• Millennials in the FIRE movement are emphasizing financial independence over traditional early retirement.
• Many say they want to retire from their 9-to-5 jobs but continue working in lower-stress positions.
• Five millennials on track to reach financial independence share why they're not set on retiring early.

Shelly October, 41, thinks she'll have the financial means to retire early by her mid-50s. But she has little intention of doing so.

October, a speech-language pathologist for New York City Public Schools, started her journey toward financial independence a few years ago. She says she's always practiced the movement's central tenets — working and saving toward a point at which she'll have enough to retire and live comfortably.

She started alongside her three older sisters and still has a few years to go as she works toward her pension. She moved to Yonkers, a city north of New York City where the cost of living is much lower, and she's kept her daily spending low. She found a townhouse through the Neighborhood Assistance Corporation of America, which had no down payment or closing costs and a 1.625% mortgage rate.

By 55, she anticipates having enough between her pension and retirement accounts to retire. But fully leaving the world of work is not in the cards, she says. She's already working toward monetizing her passions with a tutoring small business. When she retires from her current role, she plans to turn her efforts toward raising awareness of dyslexia across the US and empowering other Black women to achieve their financial goals.

"When I first started listening to podcasts, I got really excited about potentially retiring early. I was like, I could potentially build up my business, and I started really calculating numbers trying to figure that out," October said. "Then, I realized I can actually have a really good lifestyle while I'm working without feeling like I'm kind of killing myself."

October is one of many millennials who are working toward achieving financial independence, one of the main goals of the FIRE — financial independence, retire early — community. The traditional FIRE movement, which dates back to the 1990s, stressed working hard and building a large nest egg through various income streams to stop working years, or even decades, before 64.

Some millennials who successfully achieved financial independence told BI that a traditional retirement was overrated. They're instead embracing working in lower-stress positions, creating podcasts, caring for young kids, and following their passions.

"The thing I have noticed shift most is the emphasis on FI and less on RE," Scott Rieckens, the executive producer of the film "Playing With FIRE," previously told BI. "I think it's awesome to see, as it signals that financial independence is the key motive, which it is, and that work and purpose are actually really important. Retiring early to nothing is a bad idea."

This philosophy has motivated five millennials who told BI that getting to "FI," not "RE," was the more important part of the equation. All say their hard work to reach financial independence won't suddenly stop, nor will a retirement on a beach or a cabin in the woods bring them joy. Instead, they hope to give back to their communities while striving to build their careers further.

Striving for financial independence

Millennials who haven't quite achieved FI yet are experimenting with a more balanced approach and aren't setting strict timeline goals.

Oz Chen, a designer for a financial technology company who's living in Los Angeles, tested out living as a digital nomad for two years after getting laid off from a job in his mid-20s. But the 35-year-old realized he wanted more consistency and a stronger social network, leading him to shift his goals from retiring early to accomplishing career milestones, even with $1.5 million in investments.

He's enjoyed being in a work-optional position, allowing him to set healthier boundaries, though he still hasn't reached many of his life goals. He continues to put aside money for experiences over material things — other than coffee — but he intends to keep working on bettering himself and those around him.

"The whole time I've been thinking in terms of my financial independence as what I call single-player mode. I'm not married yet and don't have kids, so I was thinking, well, I might need more money for that," Chen said.

Gabriela Ariza, 31, also has plenty of life goals she wants to hit, and she already knows she's not going to retire anytime soon. She sees financial independence as an extension of her drive to fulfill passion projects. The Illinois resident, who's moving from Chicago to the smaller city of Rockford, says she's on track to reach financial independence before 40 but has no desire to stop working in cybersecurity and real estate.

She plans to build new affordable homes using her years of experience in real-estate investing and expand technology and education in Haiti as part of her nonprofit, The HaITian Common Space. Her husband hopes to leave his 9-to-5 job to be a full-time business owner.

"I've seen a lot of people sacrifice their health, and that's something that I never, ever want to do if I'm trying to achieve financial independence," Ariza said.

Even with no desire to stop working entirely, the prospect of pursuing lower-stress work is itself a benefit — but it takes effort to unlearn the constant drive for financial success.

David and Jill Pawley, 36 and 34, are set to retire in seven years, though both care more about following their passions. The couple, with a net worth of $820,000, still save 55-65% of their annual income as municipal government employees in Michigan. They say their area's low cost of living and their frugal upbringings have given them financial stability, even with the costs of raising two kids.

"When I go back 12 months, our savings rate is 64%, and since we don't want to retire, that seems too high," David Pawley said. "We are trying to back that number down and finding a way to spend the difference because our goal is not to die with $10 million."

Because both of them feel they'll keep working until they get little satisfaction from work, they've questioned whether their high savings are worth it. They implemented a rule that they can't base their choices at, for example, a restaurant, off of price. It's allowed them to follow what they actually want, which has changed their parenting styles.

"Last month, I told Jill she had to spend $300 by the end of the month," David Pawley said, "and I swear she was sweating."

Are you part of the FIRE movement or living by some of its principles? Reach out this reporter at nsheidlower@businessinsider.com.

• The Demilitarized Zone established after the Korean War separates North Korea and South Korea.
• North Korean and South Korean soldiers, as well as United Nations Command forces, guard the site.
• Despite being one of the most heavily guarded borders in the world, it's also a tourist attraction.

In 1953, an armistice agreement established a Demilitarized Zone (DMZ) on the border of North Korea and South Korea. While the agreement brought an end to the battles of the Korean War, the conflict is still ongoing.

Tensions remain high between the two countries. On multiple occasions earlier this year, North Korean leader Kim Jong Un tested new rockets capable of hitting Seoul in South Korea. In December, Kim said his army should "thoroughly annihilate" South Korea and the United States, if provoked, the Associated Press reported.

Take a look inside the heavily fortified border between North and South Korea.

The Korean Armistice Agreement of 1953 divided North and South Korea along the 38th parallel and established a Demilitarized Zone at the border.

At 148 miles long and 2.5 miles wide, the strip of land includes territory from both North and South Korea and acts as a buffer between the two countries.

The Joint Security Area of the Demilitarized Zone is managed by North Korea and the United Nations Command.

The United Nations Command was established when the Korean War began in 1950 as a multinational force made up of 22 countries supporting South Korea, according to its official website. The UN Command continues to enforce the armistice agreement and aid efforts to maintain peace in the region.

Despite being one of the most heavily guarded borders in the world, it is also a popular tourist attraction.

Located about 30 miles north of Seoul, the DMZ is open to visitors who book organized tours. In 2019, CNN reported that 1.2 million people visit the site each year, citing figures from the Korea Tourism Organization.

In the Joint Security Area, also known as Panmunjom or Truce Village, a monument memorializes the casualties that led up to the 1953 armistice agreement.

"On July 27, 1953, in the small building approximately 1000 meters to the front of this marker, representatives of the United Nationals Command, the Korean People's Army, and the Chinese Peoples Volunteers signed a Military Armistice agreement that brought the Korean War to a halt," the plaque reads.

The plaque adds that the Republic of Korea lost 150,000 soldiers and the United Nations Command suffered 40,000 casualties.

The room where the agreement was signed is also open to view.

One of the tables displays flags from the United States, South Korea, and the United Nations.

North Korean soldiers watch closely from outside.

By walking around the conference table inside the building, tourists can say they have, technically, been in both North and South Korea.

Soldiers on South Korea's side of the DMZ stare into North Korea.

Tourists visiting the site are instructed not to wave or point at North Korean soldiers and to only take photographs when instructed.

North Korea stares right back.

North Korea offers its own tours of the DMZ. Travis Jeppesen, the first American to complete a university program in North Korea, wrote in his 2018 book, "See You Again in Pyongyang: A Journey into Kim Jong Un's North Korea," that the tour is surprisingly less tense on the North Korean side with no strict rules about how to interact with soldiers on the other side.

The Military Demarcation Line is indicated by a block of concrete.

In the above photo, North Korea is on the left and South Korea is on the right.

Nearby, at the Goseong Unification Observatory Tower, visitors can use binoculars to look into North Korea.

The Goseong Unification Observatory Tower is the northernmost observation point in South Korea.

North Korea has built what South Korean forces call a "propaganda village" near the border.

Known as "Peace Village" on the North Korean side, the buildings appear to be empty. The village was built in an attempt to encourage defectors from the South to join the North.

North Korea also flies its flag on a 525-foot flagpole across from the Demilitarized Zone — a symbol of the still-simmering tensions between the two countries.

When South Korea constructed a flagpole that was 321.5 feet high in the 1980s, North Korea built a taller one at 525 feet, the BBC reported.

• Hungary's prime minister said officials are working to "redefine" his country's NATO membership.
• The aim is to not have to "take part in NATO actions outside NATO territory," Viktor Orbán said.
• The change would likely allow Hungary to avoid being involved in future NATO assistance to Ukraine.

The NATO member most aligned with Russian President Vladimir Putin wants to alter its membership in the Western military alliance so that it can avoid aiding Ukraine's fight against Russia's invasion.

Viktor Orbán, the prime minister of Hungary, told state radio on Friday that "our lawyers and officers are hard at work to see how Hungary can maintain its NATO membership in a way that it wouldn't have to take part in NATO actions outside NATO territory," Bloomberg reported.

Orbán said that military officials and lawyers in the country are trying to find ways to allow Hungary to act differently from other alliance members.

He said that allowing Hungary to formally opt out of NATO discussions about potentially expanding the alliance's role in the current conflict in Ukraine would result in a new kind of NATO membership.

It would "redefine" Hungary's membership, he said.

Hungary blocks support for Ukraine

Hungary has sought to restrain Western and NATO support for Ukraine throughout Russia's invasion.

It does not send weapons to Ukraine, and it spent months blocking billions in EU funds for the country before eventually allowing it to proceed in February.

In April 2022, two months after the invasion began, Orbán referred to Ukrainian President Volodymyr Zelenskyy as one of his "opponents."

Orbán said that he supports NATO's policy of helping other members if they come under attack but did not support giving Ukraine —which is not a member — money and weaponry, as most of the alliance does.

He said that doing so could lead to more military involvement in Ukraine, including possibly sending troops, Bloomberg reported.

Orbán also said he did not agree with the views of some NATO members that Russia may invade countries on the eastern flank of the alliance, instead describing Russia's invasion of Ukraine as a war between "two Slavic countries."

Multiple European countries, including those on NATO's eastern flank that border Russia, have warned that Russia could attack elsewhere, and they need to prepare.

NATO is backing Ukraine

NATO has been a strong supporter of Ukraine throughout the conflict.

Through the alliance, members have pledged more than $700 million in support, in addition to billions in contributions they have made individually.

NATO secretary-general Jens Stoltenberg has proposed that NATO allies coordinate $100 billion for Ukraine over the next five years, but not all members seem convinced by the plan.

Stoltenberg also said that Ukraine will one day become a member of NATO, something that is strongly opposed by Russia.

• Saudi Arabia and the Chinese planemaker Comac have been in discussions, Reuters reported.
• Comac aims to compete with Airbus and Boeing with its C919 narrowbody plane.
• Boeing's recent struggles could create more international opportunities for Comac.

Saudi officials are talking to China's planemaker Comac as the latter seeks to expand, Reuters reported.

The Comac C919 is a narrowbody plane that aims to compete with Airbus' A320neo and Boeing's 737 Max. It's China's first homegrown passenger jet, but so far, orders have only come from China and Southeast Asia.

Now, it looks like China is eyeing Saudi Arabia as the place to expand its market share and start competing with the two big Western planemakers.

According to Reuters, Dongfeng He, the chairman of Comac, visited Saudi Arabia for the first time this week. A Saudi delegation visited Comac's Shanghai facilities in February.

"Comac envisions enhancing global connectivity and diversity by contributing to Saudi Arabia's aviation transportation development," He told an aviation conference in Riyadh on Tuesday, per Reuters.

It comes after Saudi national carrier Saudia announced on Monday the biggest plane order in the kingdom's history. 105 Airbus jets, a mix of A320neo and A321neo models, will be distributed between the flag carrier and its subsidiary flyadeal.

The airline is owned by the Saudi government, and Saudia's chairman is also the transport minister. As part of its Vision 2030 plan to diversify its economy, aviation has been a focus to help promote tourism in the kingdom.

The Saudia deal appeared as a snub to Boeing, given that the US planemaker had previously won a big order from Riyadh Air — another state-owned airline set to launch in 2025.

Shortly before last November's Dubai Air Show, Bloomberg reported that Boeing was set to win another order from Riyadh Air for its narrowbody jets. However, that never materialized. CEO Tony Douglas blamed negative media coverage of delivery delays and technical problems.

With Boeing in crisis mode since January's Alaska Airlines blowout, carriers could be willing to look elsewhere. Plus, the backlog for Airbus commercial aircraft reached 8,626 at the end of March, leaving little room for more customers.

Earlier this month, the Brazilian planemaker Embraer denied The Wall Street Journal's report that it was working on a new narrowbody jet — capitalizing on Boeing's woes.

• This post originally appeared in the Insider Today newsletter.
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Happy Friday! Here's hoping you have some fun MDW plans. But if they involve seeing some savagery at the NYC-Dublin portal, you might be disappointed.

In today's big story, we're looking at the push for WFH Fridays and how that plays into the "quiet vacationing" phenomenon.

What's on deck:

• Markets: Wall Street is suspicious of how cloud giants might be juicing their cloud revenue numbers.
• Tech: OpenAI's defense of the ScarJo debacle isn't much better than what we initially thought.
• Business: How to spice up your cold emails.

But first, I won't be in the office today.

If this was forwarded to you, sign up here.

The big story

Anti-office Fridays

With all due respect to summer Fridays, we've found a year-round replacement: WFH Fridays.

Fridays are a ghost town at many offices, as white-collar workers declared the last day of the workweek best spent at home, writes Business Insider's Juliana Kaplan and Noah Sheidlower.

It's not just about working from your PJs on Fridays. Workers are sneaking in midday spa treatments and booking workout classes.

The result is a bustling work-from-home Friday economy, giving some businesses a noticeable boost at the end of the week. For a country that's seen many of its downtowns decimated, it's a welcome change.

And it's not just impacting mom-and-pop stores. Big chains like Starbucks and Sweetgreen have even seen an uptick on Fridays.

But WFH Fridays' staying power remains to be seen.

Companies have worked hard to pull workers back to the office to ensure "collaboration" and "culture." Some workers have fought back against losing their remote privileges.

Solidifying Friday as a remote day could be the middle ground employees and employers have struggled to find during the hybrid-work era.

WFH Fridays coincide with another growing workplace trend: "quiet vacationing."

More than a third of millennials recently polled said they've taken time off without telling their boss, writes BI's Kelsey Vlamis.

Starting your vacation a bit early without burning a full day of PTO isn't an entirely new concept. Let those who haven't left work early to catch a flight or avoid traffic cast the first stone.

Remote work has supercharged the concept, though. Employees have gotten strategic about scheduling messages or keeping their statuses active, even if they're only working on cocktails and a good tan.

Which brings us back to WFH Fridays. As summer approaches, it's not hard to see employees leveraging their remote privileges to get a jump start on weekend travel plans. Driving to the shore during Friday rush-hour traffic is a special kind of hell.

But how far will employees push it? Because let's be honest, they're going to push it.

What starts as cutting out a few hours early on Friday suddenly turns into missing the whole day. Do you know the best way to beat Friday traffic? Leave Thursday night!

That evolution might be tough for companies to stomach. We're still a long way from fully adopting four-day workweeks.

The end result could be employers saying abuse of WFH Fridays means they need you back in the office… for good.

3 things in markets

1. Getting a foot in the door at Goldman Sachs remains incredibly hard. Only 0.9% of applicants nabbed a summer internship this year, a record low. It shows the prestigious bank is still a top target among aspiring bankers despite some of its recent turmoil.
2. Wall Street is asking tough questions about Big Tech's cloud revenue numbers. A recent note from RBC Capital asked if big investments in AI startups were artificially boosting cloud growth figures. It's called revenue round tripping, and it's when money is invested in something that uses the cash on services from the initial investor.
3. Germany has a solar panel problem. The country has installed more solar capacity than demand requires, SEB Research found. That's pushed prices into negative territory during peak solar production hours.

3 things in tech

1. Good news: OpenAI wasn't lying about using a fake Scarlett Johansson voice. Bad news: It's just incompetent. OpenAI's response to the ScarJo saga is Sam Altman didn't know what he was doing, which is troubling, to say the least. That kind of bumbling argument works for a young startup but is tougher for a company meant to lead us into the future.
2. A LinkedIn Copilot might be on the way. According to a planning document viewed by BI, Microsoft lists "LinkedIn" among existing Copilots. It's unclear what the reference to LinkedIn Copilot exactly means, but a person familiar with the planning said it suggests the company has bigger plans than its existing AI tools.
3. Keep it secret, keep it SAFE. AI startups are reviving the funding mechanism, pioneered by Y Combinator, to raise money in a more founder-friendly way. Rather than a conventional equity investment, investors commit a certain amount of funding, like a warrant, and in return, receive stock in the company at a future date.

3 things in business

1. How a former Meta and Google employee got Mark Cuban to respond to his cold email. They may seem daunting or even pointless, but a Meta and Google alum says cold emails helped him secure those jobs and grow his network by 100x. He shared the magic formula he uses — which includes a great hook and a clear ask.
2. Why did Vivek Ramaswamy invest in BuzzFeed? The former presidential candidate owns a 7.7% stake in BuzzFeed. But why? We have some unverified theories, including one involving the massively popular show Hot Ones.
3. It's the summer of meal deals. Burger King is launching its own $5 meal, just two weeks after it was reported that McDonald's would roll out a similar promotion. The set will include a sandwich, chicken nuggets, fries, and a drink and will run for several months, according to an internal document seen by Bloomberg.

In other news

• James Gorman is bringing his 18-year stint at Morgan Stanley to an end.
• Elon Musk's X is making 'likes' private so people can like NSFW posts without worrying.
• Pet insurance is booming. It's also mostly worthless.
• 'AI revolution just getting started': Here's what Wall Street is saying about Nvidia's 1st-quarter earnings blowout.
• 14 music-tech startups helping to shape the business as it's shaken up by AI.
• A sports bettor scored an 80,860% gain on a $100 parlay ticket for the NBA Championship.
• China's military is surrounding Taiwan, sending its new president an unmistakable message.
• Elon Musk says he didn't ask for Biden's tariff on electric vehicles from China.
• From more inventory to lower prices, here are 3 signs the housing market may be getting better for buyers.

What's happening today

• G7 Finance Ministers and Central Bank Governors Meeting continues.

The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Hallam Bullock, senior editor, in London. George Glover, reporter, in London. Grace Lett, associate editor, in Chicago. Laine Napoli, associate producer, in New York.

• A woman rented her $1.675 million Los Angeles home to a musician in 2022.
• According to the LA Times, he then illegally sublet it on Airbnb while living on another continent.
• The illegal Airbnb listings generated $215,950 — about $13,500 per month, according to the Times.

A 31-year-old woman rented her $1.675 million Los Angeles home to a musician who then turned it into an illegal Airbnb cash cow while living in the United Kingdom, according to a lawsuit seen by the Los Angeles Times.

The Times reported that Nikeeta Sriram bought the property, which consists of a main house with three bedrooms and a separate one-bedroom back house with a loft, in March 2022.

At the time, Sriram was renting in Los Feliz and didn't want to break her lease, so she decided to rent her home to 36-year-old Nicholas Jarzabek, according to the Times.

"He seemed like the perfect tenant until he turned into a nightmare," Sriram told the outlet.

According to the Times, during his first year as a tenant, Jarzabek paid his $8,500 rent on time or early, and didn't make repair requests.

However, the newspaper said that in December 2023, Sriram discovered that her home was being listed on Airbnb, in violation of the lease.

Police were called after the ADT alarm was repeatedly triggered, the Times reported, with ADT informing Sriram that Airbnb guests had set off the alarm.

When confronted, Jarzabek denied subletting the property, but Sriram found listings for it on Airbnb, the Times reported.

Initially, the Airbnb account was hosted by someone named Rich Jacobs. It's unclear if this was an alias for Jarzabek or an associate.

The main house was listed for $688 per night and the back property for $496, with the two buildings collective having more than 100 reviews on Airbnb, per the Times.

The subpoena showed that for 16 months between 2022 and 2023, the Airbnb listing generated $215,954, about $13,500 a month, according to the Times.

In February, the Times said that Sriram booked the house to communicate with the account holder, writing: "STOP RELISTING THIS PROPERTY. You are not authorized to sublease this property!"

But according to the newspaper, she received the response: "Dear Nikeeta, Welcome and Thank You. You will have a great time here."

The listings were temporarily removed, but new ones soon appeared.

According to the lawsuit reviewed by the newspaper, the property listings omitted exterior shots and provided a false address about a mile from the actual location.

Although Sriram considered changing the locks, she didn't want to violate the lease terms, which could result in her having to pay out damages. Instead, she filed for eviction through the Los Angeles Superior Court and filed a cease and desist to Jarzabek's attorney, the newspaper said.

Throughout the legal proceedings, the property continued to be rented under a new account, a rental company called Monthier, which has other listings throughout LA.

Monthier did not immediately respond to a request for comment from Business Insider.

Sriram told the Times she eventually resorted to showing up at the property to warn guests about the situation.

"I felt terrible. I didn't want to ruin their vacations," she said, but added: "This is our only recourse since Airbnb provided no help to us."

Airbnb confirmed to the Times that the listing is no longer active and the account associated with Jacobs has been deleted. The company did not immediately respond to BI's request for comment.

As part of the lawsuit, Sriram subpoenaed Airbnb for information about Jarzabek, discovering that the telephone number registered for Jacobs was a UK number, per the Times.

The newspaper said that Instagram posts show Jarzabek performing in London pubs under the name Nick Diver.

The Instagram account associated with Diver did not immediately respond to BI's request for comment.

"If the city can't figure out how to crack down on Airbnb, it should err on the side of caution and ban the platform until it can build a task force to manage it," Sriram told the newspaper.

According to the Times, Jarzabek stopped paying rent after Sriram filed the eviction notice. She told the newspaper that she estimates she has lost $100,000 this year in property damage, legal fees, and lost rent.

Sriram's unlawful detainer lawsuit was recently approved, allowing her to proceed with an eviction, the Times reported.

The newspaper said that she has also received a writ of possession, which permits a sheriff to take control of the property and return it to her. However, there is a waitlist of several months for that service.

• The Russian military has caused widespread disruptions to Starlink, The New York Times reported.
• Starlink has proven crucial in military operations and for communications among Ukrainian troops.
• Russia appears to have stronger electronic weapons to degrade the service.

Russia's jamming technology appears to be increasingly interfering with Elon Musk's Starlink service in Ukraine.

Since the beginning of the war, Ukraine's military has used SpaceX's Starlink satellite internet service to communicate, coordinate attacks, and gather intelligence.

But for the first time, the Russian military has caused widespread disruptions to Starlink, creating serious problems for Ukraine's frontline troops, according to The New York Times.

Members of Ukraine's 92nd Assault Brigade, who spoke to The Times, said Starlink became extremely slow earlier this month as Russian troops advanced across the northern border.

"One day before the attacks, it just shut down," a soldier who goes by the call sign Ajax told the outlet. "It became super, super slow."

"We're losing the electronic warfare fight," Ajax said.

Mykhailo Fedorov, Ukraine's digital minister, said in a recent interview that Russia is testing new, sophisticated tools to "disrupt the quality of Starlink connections because it's so important to us," The Times said.

He added that Ukraine is working with SpaceX to resolve the outages.

Brian Weeden, the chief program officer for the nonprofit Secure World Foundation, previously told BI that Russia has struggled to disrupt Ukraine's Starlink service.

This may be because its satellites operate at a far lower altitude than geostationary satellites, which means their signals are stronger and more concentrated.

Because Starlink satellites are closer to Earth, latency — the delay between a user's action and a network response — is shorter. This speeds up streaming, online gaming, videoconferencing, and other activities.

According to The Times, Russia may have gotten better at interfering with the signal by using more powerful and precise jammers.

A drone pilot who uses the call sign Kartel, told The Times that soldiers had to turn to text messaging apps because Starlink was so slow.

"During the first hours the front line was very dynamic. The enemy was moving. And we were moving as well. We needed to be fast in communicating," he said, adding that "everything was more time-consuming."

Though Russia's defense ministry is yet to comment, an official who leads the country's electronic warfare efforts told state media in April that the military had developed capabilities to counter Starlink, the outlet said.

The Wall Street Journal reported in April that Russia had illegally obtained Starlink devices from the black market to coordinate attacks in Ukraine.

The outlet said Russians were purchasing the technology from foreign countries, including the US, before smuggling it to Russian troops in Ukraine.

SpaceX, Ukraine's Ministry of Defense, and the Kremlin did not immediately respond to requests for comment.

• Bill Gates unveiled his annual summer read and watch list.
• Gates said the four books and one TV show all "touch on the idea of service to others."
• "Slow Horses," a British spy thriller series on Apple TV+, made the list.

Bill Gates unveiled his annual summer reading and TV list, saying this year is all about altruism.

Gates shared his recommendations in a blog post. The Microsoft cofounder says he reads about 50 books a year.

"The books and TV series on my summer list all touch on the idea of service to others — why we do it, the things that can make it difficult, and why we should do it anyway," Gates wrote.

The Microsoft cofounder wrote that he didn't intend to center the list around service, but it's "certainly as relevant today as ever."

"At a time when wars dominate the headlines and our politics is becoming more and more polarized, it's inspiring to appreciate those who help others and think about how we can be more generous in our own lives," he wrote.

Here are the four books and one TV series that Gates said will enrich your summer.

"The Women" by Kristin Hannah.

The historical fiction novel centers on a young US Army nurse who served two tours in the Vietnam War before returning home to political tension and the anti-war movement.

Gates wrote in a separate blog post that "The Women" changed his perspective on the Vietnam War, adding that the story highlights female Vietnam veterans.

"Enough time has passed that most people acknowledge the individual heroism that took place in Vietnam, even though history doesn't look kindly on the war itself," he wrote. "People over there did things that we can — and should — be proud of. That's one reason why I'm glad to see a book like 'The Women' doing so well. It's a beautifully written tribute to a group of veterans who deserve more appreciation for the incredible sacrifices they made."

"Infectious Generosity" by Chris Anderson.

Chris Anderson's "Infectious Generosity" is a non-fiction novel that explores how people can use the internet to maximize generosity. Anderson is the curator for TED Talks.

"Chris's central argument is that communications technology creates both an opportunity and a responsibility to give more," Gates wrote in a blog post. "When we can witness the hardships of others firsthand, even from the other side of the planet, our instinct to help is activated. And the internet makes it easy to act on that instinct."

"Slow Horses" on Apple TV+.

"Slow Horses" is a British spy thriller with three seasons on Apple TV+ that debuted in 2022.

The show is about a group of undercover agents at Slough House working to protect England from nefarious forces. Slough House is where "people get sent to when they mess up badly, but not quite badly enough to get fired," Gates wrote in a blog post.

Gates, who said he binge-watched the series, added that it's "up there with the best spy stuff I've seen."

"Brave New Words" by Sal Khan.

"Brave New Words: How AI Will Revolutionize Education (and Why That's a Good Thing)" is a deep dive into artificial intelligence and how that technology could influence classrooms worldwide.

"Sal argues that AI will radically improve both outcomes for students and the experiences of teachers, and help make sure everyone has access to a world-class education," Gates wrote. "He's well aware that innovation has had only a marginal impact in the classroom so far but makes a compelling case that AI will be different."

Gates added: "No technology is a silver bullet for education. But I believe AI can be a game changer and great equalizer in the classroom, the workforce, and beyond."

"How to Know a Person," by David Brooks.

The last book on Gates' list is "How to Know a Person: The Art of Seeing Others Deeply and Being Deeply Seen," which is a guide to helping readers foster deep connections.

Gates wrote that Brooks' advice can be applied to all facets of life and help people build their social skills.

"As someone who has always been more comfortable making software than small talk, I found this idea both refreshing and informative," Gates wrote.

• US-provided glide bombs are struggling against Russian electronic jamming in Ukraine.
• Ukraine received the Boeing-made bombs in February in the hopes of hitting longer-range targets.
• But Russian electronic warfare has blunted the effectiveness of the US-supplied munitions.

US-provided glide bombs are struggling against sophisticated Russian electronic jamming in Ukraine, Reuters reported.

The Ground-Launched Small Diameter Bomb, or GLSDB, is a relatively new guided bomb with a range of 100 miles, thanks to small wings that extend from its body.

Ukraine received the bombs in early February after months of requesting long-range munitions and in the hopes of striking distant, strategic targets in places like Crimea.

But their guidance systems are running into Russian jamming, causing many of the launches to miss their targets, three sources familiar with the matter told Reuters.

The GLSDB's developers, Boeing and Saab, have previously touted its high precision combined with its longer range.

In 2022, marketing materials for the bomb said that its navigation system is "supported by a highly jamming resistance GPS."

Representatives for Boeing didn't reply to Reuters and did not immediately respond to Business Insider's request for comment, sent outside of working hours. Saab also did not immediately respond to BI.

Russia's advanced electronic warfare capabilities have proved a growing headache for Ukraine's munitions during the war.

Jamming works by overwhelming a device's GPS signal with stronger, false signals, disrupting its navigation.

In late April, William LaPlante, the US undersecretary of defense for acquisition and sustainment, discussed a US-supplied precision weapon that had suffered failings in Ukraine, in part because of electronic warfare.

He didn't name the weapon, but Defense One reported that it was likely the GLSDB.

Russian jamming has blunted the impact of several weapons that were initially highly effective in Ukraine, including the HIMARS-launched Guided Multiple Launch Rocket System, or GMLRS, and Joint Direct Attack Munitions, or JDAMS.

In March, reports emerged that the efficiency of GPS-guided Excalibur artillery shells had also been vastly reduced by Russia's evolving electronic warfare systems.

Jamming is also a highly inexpensive tactic — the software is available relatively cheaply and can help to take out munitions costing tens of thousands of dollars, Defense One reported.

Experts have warned that Russia's capabilities in this increasingly vital area now far exceed those of the US.

• Nvidia cofounder Jensen Huang is now worth of $91 billion, according to Bloomberg.
• His fortune ballooned $7.6 billion on Thursday as the AI darling stock racked up more gains.
• Huang is now richer than Rob, Jim or Alice Walton, per the Bloomberg Billionaires Index.

Nvidia has emerged as one of the main winners of the AI investing craze — and the good times keep rolling for the semiconductor giant.

Shares in the "Magnificent Seven" tech company jumped 9% on Thursday after another strong earnings report, lifting its valuation to just under $2.6 trillion.

One obvious winner anytime the year's hottest stock surges is Nvidia CEO and cofounder Jensen Huang. His net worth jumped another $7.6 billion, according to data from Bloomberg, as investors seized on better-than-expected quarterly profit and revenue numbers.

Huang's personal fortune of $91 billion now puts him 17th on the outlet's Billionaires Index. He's richer than every Walmart heir, including founder Sam Walton's three children Rob, Jim, and Alice.

Here's everything you need to know about Huang, who rocks a leather jacket everywhere he goes and reportedly got a tattoo of Nvidia's logo once the company's share price hit $100.

Nvidia CEO Jensen Huang is now worth $91 billion.

Most of Huang's wealth comes from his 3.5% stake in the Santa Clara-based chipmaker, per the company's 2023 annual report.

The jump in Nvidia stock follows another set of blockbuster quarterly earnings this week as the generative AI boom continues.

He moved to the US as a child

Born as Jen-hsun Huang in Taipei in 1963, Huang spent part of his childhood in Taiwan and Thailand, per Bloomberg. 

In 1973, Huang's parents sent their children to relatives in the US owing to the social unrest in the Southeast Asian country, before relocating there themselves.

Huang's aunt and uncle — who were recent migrants to Washington state at the time — accidentally sent Jensen and his brother to Oneida Baptist Institute in Kentucky, which was considered a reform school instead of a prep school, according to Huang's 2002 interview with Wired.

"And the kids were really tough," Huang told NPR in a 2012 interview. "They all had pocket knives — and when they get in fights, it's not pretty. Kids get hurt."

Students at the school also had to work, and Huang's duty was to clean the bathrooms. 

"The ending of the story is I loved the time I was there," Huang told NPR. "We worked really hard — we studied really hard, and the kids were really tough."

In 2019, he and his wife Lori donated $2 million toward building a female dormitory and classroom building at the school, per the institute's website.

He loves computer games and studied electrical engineering

Huang and his brother eventually moved to Oregon where they rejoined the family.

During his time as a high schooler in Beaverton, he was a nationally ranked junior table tennis champion, according to a 2017 profile on Oregon State University, or OSU, where Huang attended college.

Huang also holds a Master's degree in electrical engineering from Stanford. 

 

 

Huang met his wife, Lori Mills, in his freshman year of college

The couple have two children, according to OSU's profile. 

"I enjoyed computers growing up, but OSU opened up my eyes to the magic behind them," he told the university.

Huang graduated in 1984 — the "perfect year to graduate," he said at a keynote speech at National Taiwan University's commencement ceremony this year, per Fortune. That was the same year when the first Mac computers were released, bringing forth a new age in personal computing.

After graduating from OSU, Huang worked at chip companies LSI Logic and Advanced Micro Devices in a variety of roles, according to his bio on Nvidia's website.

He founded Nvidia in 1993 after leaving LSI Logic.

Huang founded Nvidia while dining at Denny's

Nvidia was founded in 1993 at a Denny's restaurant where he was meeting with two friends, Chris Malachowsky and Curtis Priem, per The Wall Street Journal.

 The trio "wondered whether starting a graphics company would be a good idea," Huang told Stanford University's engineering school in a 2010 interview.

"We brainstormed and fantasized about what kind of company it would be and the world we could help. It was fun," he told Stanford.

Denny's was also where Huang part-timed when he was a student, per a 2010 New York Times interview. There, he learned how to be more outgoing.

"I was a very good student and I was always focused and driven. But I was very introverted. I was incredibly shy," he told The Times. "The one experience that pulled me out of my shell was waiting tables at Denny's. I was horrified by the prospect of having to talk to people."

Huang is 61, making him years older than Bill Gates and Jeff Bezos when they left day-to-day operations at 52 and 57 years old, respectively.

There are few signs he plans to slow down.

"Nothing is more fun to me than to build a once-in-a-generation company with all of my friends here," Huang told Business Insider in 2021 . "I can't imagine wanting to do anything other than that."

May 24, 2024: This story has been updated to reflect movements in Nvdia's share price and Jensen Huang's net worth.

Huang is now one of the biggest winners of the AI boom.

Nvidia has made itself a key player in the AI boom by supplying hardware to major companies, including OpenAI, Google, Microsoft, and Amazon. Demand for the company's hardware has been driven by several factors, including a sophisticated software system that makes its chips simple to use as well as a shortage of AI chips. 

Huang now believes we've hit a new threshold in the AI hype cycle. "Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries, and nations," Huang said in the company's fourth-quarter earnings press release.