• A woman was found living inside a grocery store’s rooftop sign for a year

    An aisle in a New York grocery store.
    An aisle in a New York grocery store.

    • A woman lived inside the rooftop sign of a Michigan grocery store for about a year, police say.
    • Contractors working at the store found the woman, the Midland PD said.
    • She'd decorated the space with a mini desk, flooring, pantry, and houseplant.

    A woman spent about a year living inside the rooftop sign of a grocery store in Midland, Michigan, police say.

    Brennon Warren, the public relations officer at Midland Police Department, told Business Insider that the woman was found on April 23 by contractors who discovered an extension cord on the roof. Police determined she had been living there for about a year, he said.

    The Midland Daily News first reported on the woman being found.

    Warren confirmed to BI that the woman was 34 and had a job. She'd decked out the space with a mini desk, flooring, pantry, and houseplant, he said.

    Per ABC News, Warren said the woman also had a Keurig coffee maker, a printer, and a computer.

    "She was homeless," he added. "It's a story that makes you scratch your head, just somebody living up in a sign."

    Warren told BI that it was unclear how the woman accessed the roof. However, he said that once on the roof she was able to enter the inside of the sign using a 3'x4' access door.

    He added that the woman had refused an offer for contact information for housing assistance in the area and that police didn't know where she had been living since she left the roof.

    The woman wasn't formally charged, he said.

    Warren told The Midland Daily News that police had nicknamed her the "Rooftop Ninja."

    "I've never seen anything like this before in my career," he told the publication.

    Little is known about the woman, including what led her to living on the rooftop.

    The Michigan Homeless Policy Council estimated that in 2022, about 32,589 homeless people lived in the state, an 8% increase on the previous year, which it attributed to an "uncertain housing market" and the winding down of pandemic-related programs.

    Family Fare is owned by SpartanNash and has 80 stores, mainly in Michigan.

    A spokesperson for Family Fare said the company was "proud" of its associates for responding to the situation "with the utmost compassion and professionalism.

    "Ensuring there is ample safe, affordable housing continues to be a widespread issue nationwide that our community needs to partner in solving," they added.

    Read the original article on Business Insider
  • Adam Neumann says Jeff Bezos came up to him at an event and gave him a tip for running better meetings

    Jeff Bezos and Adam Neumann
    Jeff Bezos (left) advised Adam Neumann recently to speak last in meetings.

    • Jeff Bezos recently advised Adam Neumann to speak last in meetings.
    • Neumann said he's evolving his leadership approach in his apartment company, Flow.
    • Bezos' "speak last" strategy is supported by organizational psychologists like Adam Grant.

    Jeff Bezos recently gave Adam Neumann some unsolicited advice: Speak last in meetings, a leadership style espoused by a leading organizational psychologist.

    Neumann said Bezos came up to him with the recommendation after the WeWork cofounder spoke at an event.

    "I was so happy he wanted to give me any type of advice," Neumann said on stage at Thursday's Bloomberg Tech Summit in San Francisco.

    He said he's evolving as a leader at Flow, his apartment company.

    "I have investors around the table who are not only comfortable pushing back, I think they like it," Neumann said on Thursday. Flow's main backer is famed venture capital firm Andreessen Horowitz, while WeWork's primary investor is Japanese titan SoftBank.

    At WeWork, Neumann was famous for his eccentric leadership style. His alcohol-fueled executive meetings could stretch well into the night, Business Insider previously reported. He often talked about superpowers — including with former BI editors in a 2019 interview — and about the importance of authenticity.

    "The way you build a relationship is authenticity, with really connecting to the person. And listening," Neumann told BI in 2019.

    Bezos, meanwhile, is known for much more corporate leadership, including tightly orchestrated meetings. On a December podcast with Lex Fridman, he highlighted the importance of leaders holding back. Bezos said he aims for a culture that allows junior staff to overrule their senior counterparts when data supports their thinking.

    Bezos recommended that the most junior person participates in a meeting first, and then the meeting flows in order of ascending seniority.

    "I know from experience that if I speak first, even very strong-willed, highly-intelligent, high-judgment participants in that meeting will wonder, 'Well if Jeff thinks that, I came in this meeting thinking one thing, but maybe I'm not right,'" Bezos said on the podcast.

    Bezos' strategy isn't new — organizational psychologists like Adam Grant, a professor at the Wharton School of the University of Pennsylvania, have long championed the idea.

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

    A representative for Neumann did not immediately respond to a request for comment from Business Insider sent outside normal business hours.

    Read the original article on Business Insider
  • Here are the top 10 ASX 200 shares today

    Silhouettes of nine people climbing a steep mountain to the top at sunset, and helping each other along the way.

    It was a pleasing end to the trading week this Friday for the S&P/ASX 200 Index (ASX: XJO) and most ASX shares.

    After taking a dip yesterday, the ASX 200 was back to firing on all cylinders today. By the end of trade, the index had risen by a happy 0.35%, leaving it at 7,749 points as we head into the weekend.

    This pleasant end to the week follows an equally bullish night of trade over in the United States last night.

    The Dow Jones Industrial Average Index (DJX: .DJI) was in fine form, shooting up 0.85% overnight.

    The Nasdaq Composite Index (NASDAQ: .IXIC) didn’t far quite as well, but still banked a solid rise of 0.27%.

    But getting back to the local markets, let’s check out how the different ASX sectors dealt with today’s broad-market optimism.

    Winners and losers

    There were far more smiles than frowns on the market today.

    The worst performer was industrial shares though. The S&P/ASX 200 Industrials Index (ASX: XNJ) gave up an early lead to finish 0.14% lower by the conclusion of trading this Friday.

    Also out in the cold were consumer staples stocks. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) ended up dipping by 0.13%.

    Tech shares were another mildly sore spot, as you can see from the S&P/ASX 200 Information Technology Index (ASX: XIJ)’s 0.07% slide.

    Mining stocks round out the red list. The S&P/ASX 200 Materials Index (ASX: XMJ) slipped by 0.06% over the day.

    But that’s it for the losers. Turning to the winners, ASX energy shares came out on top this Friday. The S&P/ASX 200 Energy Index (ASX: XEJ) were on fire, leaping 1.87% higher.

    In second place, we had the gold sector. The All Ordinaries Gold Index (ASX: XGD) vaulted 1.75% upwards by the close of trade.

    Financial stocks were hot, too, with the S&P/ASX 200 Financials Index (ASX: XFJ) banking a nice gain of 0.69%.

    Communications shares were also in demand. The S&P/ASX 200 Communication Services Index (ASX: XTJ) dialled in a 0.65% rise.

    Healthcare stocks were revised today as well. The S&P/ASX 200 Healthcare Index (ASX: XHJ) got a 0.41% shot in the arm from investors.

    Real estate investment trusts (REITs) got a new lease on life. The S&P/ASX 200 A-REIT Index (ASX: XPJ) managed a 0.18% hike.

    Consumer discretionary shares got an invite to the ASX party, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) swelling 0.12%.

    Our final winner was the utilities space, evidenced by the S&P/ASX 200 Utilities Index (ASX: XUJ)’s 0.09% uptick.

    Top 10 ASX 200 shares countdown

    Today’s hottest stock on the index was mortgage insurance provider Helia Group Ltd (ASX: HLI). Helia shares had a great day, rocketing up 5.95% to $3.92.

    This was possibly a response to the company’s announcement this morning that it would be conducting a new $100 million share buyback program.

    Here’s a look at the rest of today’s best shares on the index:

    ASX-listed company Share price Price change
    Helia Group Ltd (ASX: HLI) $3.92 5.95%
    Beach Energy Ltd (ASX: BPT) $1.69 4.00%
    Karoon Energy Ltd (ASX: KAR) $1.97 3.96%
    Boss Energy Ltd (ASX: BOE) $5.78 3.96%
    Gold Road Resources Ltd (ASX: GOR) $1.61 3.87%
    Emerald Resources N.L. (ASX: EMR) $3.50 3.55%
    News Corporation (ASX: NWS) $38.58 3.40%
    Red 5 Ltd (ASX: RED) $0.46 3.37%
    Bellevue Gold Ltd (ASX: BGL) $1.76 3.23%
    Lynas Rare Earths Ltd (ASX: LYC) $6.86 3.00%

    Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

    The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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  • Resmed share price higher despite CEO hitting sell on 14,683 shares

    a doctor in a white coat makes a heart shape with his hands and holds it over his chest where his heart is placed.

    It’s been a pleasant Friday for the S&P/ASX 200 Index (ASX: XJO) and most ASX 200 shares today. At the close of trading, the ASX 200 had gained 0.35% and was back above 7,740 points. But let’s talk about what went on with the ResMed Inc (ASX: RMD) share price.

    Resmed shares performed slightly better than the broader market. The ASX 200 healthcare stock closed 0.43% higher at $32.34 after rising even higher this morning to $32.71 a share, a gain worth just over 1.5% at the time.

    This green day for Resmed came despite some potentially difficult news for investors to digest.

    According to a United States Securities and Investments Commission (SEC) filing, ResMed CEO Michael J. Farrell has just sold a significant chunk of shares.

    Remember, Resmed is a dual-listed share and has a home both on the ASX and the New York Stock Exchange under the ticker ResMed Inc (NYSE: RMD). The company’s base is also in America, in the Californian city of San Diego.

    This SEC filing shows that Farrell disposed of 14,683 Resmed shares on 7 May (US time) this week.

    These sales were executed at an average share price of US$216.50. That means Farrell would have bagged a cool US$3,178,815, which is approximately $4.81 million in our local currency.

    There was no explanation given for these Resmed share sales. However, the plot thickens when we examine another two transactions reported on the same day.

    Why has the ResMed CEO been selling shares?

    The filing also shows that Farrell acquired 14,683 shares on 7 May. So Farrell has apparently bought and then sold $4.81 million worth of Resmed shares on the same day.

    Well, not quite. The acquisition price of these shares was listed as US$84.98 – a far cry from the US$216.50 selling price. This implies that these shares were converted from options that the CEO possessed.

    It appears that Farrell’s options were exercised and converted into ordinary Resmed shares, which were promptly sold.

    Should investors be worried?

    Well, that’s up to them. All investors like to see their company’s management teams align themselves financially with investors as much as possible. That means owning as many shares as they can. When CEOs and other senior management figures sell out of said shares, it can cause some understandable consternation.

    However, it must also be remembered that most managers tend to try to follow the rules of good wealth management, which most would agree includes at least somewhat diversifying one’s wealth. Unless you’re Warren Buffett, having most of your net worth tied up in one stock investment is rarely a good idea.

    This might be a case of Farrell doing just that when it comes to Resmed shares. Perhaps the CEO has a large tax bill coming up or wants to buy a new house.

    Before investors follow Farrell and sell out of their shares (which doesn’t appear to be happening anyway, judging by the recent share price performance), keep in mind that Farrell still owns a significant chunk of the company.

    The SEC filing shows that the CEO retains 440,752 Resmed shares (presumably the NYSE-listed stock) even after this week’s sale. Those would have a value of US$95.57 million today.

    The post Resmed share price higher despite CEO hitting sell on 14,683 shares appeared first on The Motley Fool Australia.

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    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Jack Dorsey said Twitter’s board ‘has always been a problem’ and that he plotted his exit from the firm because of its activist investor

    Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021.
    Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021.

    • Jack Dorsey said Twitter's board — and its activist investor — prompted him to plan an exit from the firm.
    • "I was happy to see it end," Dorsey said of the board when Elon Musk took Twitter private.
    • Before leaving Twitter in 2021, Dorsey faced pressure from investors looking to replace him as CEO.

    Jack Dorsey, the cofounder of Twitter, slammed the board that oversaw the social media firm during his tenure at its helm, saying the group had "always been a problem."

    "I was extremely challenged by my board," Dorsey said during an interview published Thursday by Mike Solana, the head of marketing for VC firm Founders Fund and editor of digital media brand Pirate Wires.

    "The board has always been a problem at that company, and I was happy to see it end," Dorsey continued. "But there was only one way for it to end, which is going private. And I think that's the greatest act."

    Twitter was sold for $44 billion in October 2022 to Elon Musk, who took the platform private, radically changed its approach, and rebranded it to X. By then, Dorsey had already stepped down from the company, leaving it in 2021 to its new CEO, Parag Agrawal.

    Dorsey told Solana that earlier on, he'd tried to bring Musk onto Twitter's board but was stopped twice. That was partially why he decided to ditch the platform, he said.

    In April 2022, Musk joined Twitter's board of directors after taking a 9.2% stake in the company.

    But Dorsey said he was also unhappy with the board because of an activist investor seeking to boot him, he said.

    "I didn't want to be on a board with an activist," he said. I didn't want to run a company like that. It's just a Wall Street mess. It's not creative, it's diminishing."

    That investor was Elliott Management, an investment firm led by Paul Singer that wanted to replace Dorsey because he was spending time on his other venture, Square, while running Twitter as CEO.

    Dorsey said he offered to step down, an offer that was rejected by the board. Still, he said Elliot Management's presence took a toll on his relationship with the firm.

    "So at that point, I'm like, okay, I have to plan an exit," Dorsey told Solana. "It's not going to be right now, but it has to be over the next two years, because I just don't want to live this way."

    His comments align with reports that a fed-up Dorsey was receptive to Musk buying Twitter and revamping the platform.

    During the interview, Dorsey didn't address allegations that he was practically an "absentee" at both Twitter and Square because he was split between companies. He was accused of being more of an advisor at either firm than the decision-maker and CEO he needed to be.

    Dorsey made his recent remarks just after quitting Bluesky, a social media platform he helped create with an open-source protocol. He then urged users to use X, calling it "freedom technology."

    Since taking over, Musk has pushed for X to become an ideal "digital town square" free of censorship, reversing prior bans on controversial figures such as former President Donald Trump and white supremacist Nick Fuentes.

    The billionaire's repeated controversial remarks eventually led to major advertisers leaving X, though Dorsey has also said he believes that the path forward for the platform is to ditch advertising as a main revenue stream.

    Read the original article on Business Insider
  • More companies would move to Miami if there were more private schools, says billionaire Miami convert Barry Sternlicht

    Barry Sternlicht
    Barry Sternlicht moved Starwood Capital to Miami.

    • More companies would move to Miami if there were more private schools, said Barry Sternlicht.
    • Miami's business-friendly environment and tax savings have attracted companies like Citadel.
    • However, the city faces a private school shortage due to the recent population boom.

    One hiccup prevents Miami from attracting more money and talent, according to billionaire real estate fund manager and Miami transplant Barry Sternlicht.

    The city doesn't have enough private schools, he said in an interview on Thursday with Bloomberg Television.

    "There are a lot of companies that would move down if they could get their employees' kids into schools, which is impossible," said Sternlicht, the CEO of Starwood Capital Group.

    Sternlicht announced in 2018 that he would move Starwood from Connecticut to Miami, and the firm relocated during the pandemic. The company managed $115 billion of assets and has 5,000 employees globally, according to its website.

    While he expected better weather and tax savings, Sternlicht was pleasantly surprised by how welcoming Florida is to business, he said in the interview.

    Sternlicht is one of several real estate moguls and billionaires who moved their company from the northeast to Miami in recent years.

    In 2022, Citadel and Citadel Securities founder Ken Griffin moved the headquarters of both of his companies from Chicago to Miami after complaining about Illinois taxes and politics. Late last year, former Amazon CEO Jeff Bezos announced he was relocating from Seattle to Miami, a move that could save him $600 million in taxes.

    Florida is one of only nine US states with no state income tax, and high-earners moving to the state are often called "tax refugees."

    The shortage of private schools in the area is due to a recent population boom in Miami and the state overall.

    Florida's population jumped by 1.9% from 2021 to 2022, with a net gain of 417,000 new residents, more than any other state in the country. Miami saw the number of millionaires rise 78% in the last decade, to 35,300, per a report released Tuesday by immigration consultancy Henley & Partners.

    The spike is in part due to employees of Goldman Sachs, Blackstone, D1 Capital Partners, and other firms that have moved in. High-earning employees want to send their children to elite schools that match the quality of New York area's schools, BI previously reported.

    Newcomers to the city face long waitlists to get into elite schools because of the small number of such schools in the city and developers dropping plans to build new ones.

    Despite the school challenge, Sternlicht said that Miami's growth story is not over.

    "I don't think Miami has peaked. I think Miami and Florida have cycles because they get overbuilt, but they're ever-higher cycles," he told Bloomberg. "You just have to have stamina to stay with it."

    Read the original article on Business Insider
  • Brokers name 3 ASX shares to buy now

    Business woman watching stocks and trends while thinking

    It has been another busy week for Australia’s top brokers. This has led to the release of a number of broker notes.

    Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

    Neuren Pharmaceuticals Ltd (ASX: NEU)

    According to a note out of Bell Potter, its analysts have retained their buy rating on this pharmaceutical company’s shares with a slightly trimmed price target of $26.50. This follows the release of an update on Daybue sales in the United States. While those sales were just short of guidance, this was driven by pre-flagged seasonality impacts. The good news is that FY 2024 guidance remains unchanged. In light of this, Bell Potter is expecting another standout year for Neuren. In addition, the broker is eagerly awaiting phase 2 clinical readouts from the company’s second drug candidate, NNZ-2591. It notes that Pitt Hopkins Phase 2 results are due in the current quarter, followed by Angelman results in the third quarter. The Neuren share price is trading at $19.00 on Friday.

    REA Group Ltd (ASX: REA)

    A note out of Morgan Stanley reveals that its analysts have reaffirmed their overweight rating and $210.00 price target on this property listings company’s shares. This follows the release of a quarterly update which revealed very strong sales and earnings growth from the realestate.com.au operator. The broker notes that REA Group slightly outperformed analyst expectations. It also significantly outperformed its closest rival, which is cementing its market leadership position further. This bodes well for the future and supports the broker’s forecast for further solid growth in the near term. The REA share price is fetching $187.43 this afternoon.

    TechnologyOne Ltd (ASX: TNE)

    Analysts at Goldman Sachs have retained their buy rating on this enterprise technology company’s shares with an improved price target of $18.10. The broker has been looking ahead to TechnologyOne’s half year results release later this month. It is expecting the company to report annual recurring revenue growth of 35%, which will be a touch ahead of consensus estimates. All in all, the broker believes the company is performing above expectations for ARR and earnings growth and that this is not being fully reflected in its valuation. As a result, Goldman believes that now would be a good time for investors to snap up its shares. The TechnologyOne share price is trading at $16.36 on Friday afternoon.

    The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

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    Motley Fool contributor James Mickleboro has positions in Technology One. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, REA Group, and Technology One. The Motley Fool Australia has recommended REA Group and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Should you buy ANZ shares before they trade ex-dividend next week?

    A woman looks questioning as she puts a coin into a piggy bank.

    It’s been a promising start to the month of May for the ANZ Group Holdings Ltd (ASX: ANZ) share price. This ASX 200 bank stock began this month at $28.16 a share. But today, those same shares are trading for $29.20 each. That’s up a healthy 1.41% today alone and means that ANZ shares have enjoyed a 3.6% rise since the end of April.

    It appears investors have given their tick of approval to the half-year earnings report that ANZ delivered earlier this week.

    As we covered at the time, these earnings revealed that ANZ suffered a 4% drop in statutory profits after tax to $3.41 billion for the six months to 31 March.

    Cash profits also fell by 1%, down to $3.55 billion. However, the capital returns that ANZ announced seemed to give investors their biggest confidence boost.

    ANZ revealed that its shareholders would enjoy the benefits of an additional $2 billion share buyback program going forward. The bank also declared an interim dividend of 83 cents per share, which was up 2.5% over last year’s interim dividend of 81 cents per share. This fresh dividend will only come partially franked at 65%.

    ANZ wasn’t messing around, though. The ex-dividend cutoff date for this upcoming payout was set for less than one week later, on 13 May, to be precise. That’s next Monday.

    Should you buy ANZ shares before next week’s ex-dividend cutoff?

    This means that anyone who doesn’t already own ANZ shares but wants to enjoy this latest dividend has until the close of trading today to buy ANZ shares. Anyone who buys them from Monday onwards (or sells out before today’s closing bell) will miss out this time.

    Eligible investors will then get the cash from this dividend (or the additional shares if the optional dividend reinvestment plan is utilised) on 1 July.

    So those are the rules. But should investors buy ANZ before this dividend disappears forever?

    Just to get this straight, there are no free lunches in the investing world. If you buy ANZ shares today as opposed to next Monday, you won’t get this dividend ‘for free’. Whenever a share goes ex-dividend, you can expect to see its shares fall by roughly the same value as what said dividend was worth.

    This latest ANZ dividend is worth 83 cents per share. This effectively means that when ANZ opens on Monday, its share price will be approximately 83 cents lower than where it would have been without the ex-dividend factor.

    So you can either buy ANZ shares at a higher price today and bag this dividend, or you can wait until they are cheaper on Monday, but don’t come with the rights to the dividend attached. It’s fairly close to a zero-sum game, and if any investors try to chase the arbitrage between the two, they will probably come out disappointed.

    No free ASX lunches, even for bank stocks

    For a long-term investor, it won’t make too much difference if you buy today or Monday. Your overall returns probably won’t differ by much at all.

    So if you were already keen on buying ANZ shares for dividend income, you might want to seize your chance this Friday. But if you are just building out a position in ANZ as a long-term investment, don’t let this tricky situation throw you off your game.

    At the current ANZ share price, this ASX 200 bank stock sports a dividend yield of 6.08%.

    The post Should you buy ANZ shares before they trade ex-dividend next week? appeared first on The Motley Fool Australia.

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  • Jack Dorsey defends Musk’s Twitter leadership, saying the billionaire slashed the ‘critical sin’ of its business model

    Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square arrives on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.
    Jack Dorsey, who is now defending Elon Musk, in 2021.

    • In a new interview, Jack Dorsey explained Elon Musk's seemingly chaotic decisions at X.
    • The mass layoffs, advertiser exodus, and blue-check revamp fit into a push for free speech, Dorsey said.
    • It's all part of ditching Twitter's "core, critical sin" of advertiser control, he said.

    Elon Musk's handling of Twitter has been panned as erratic. But the platform's cofounder, Jack Dorsey, is defending his fellow billionaire's approach, saying Musk's sweeping job cuts and ditching of advertisers made sense for a shift toward free speech.

    Dorsey spoke with Mike Solana, the head of marketing for VC firm Founders Fund and editor of digital media brand Pirate Wires, in an interview published Thursday. Dorsey said he shared Musk's goal of creating an internet bastion for free speech. But Dorsey said Twitter had been weighed down by its revenue model.

    Twitter chose brand advertising as its main source of income, a "core, critical sin" that exposed the platform's moderation to the whims of corporations effectively financing the social-media platform, Dorsey said.

    "And when you're entirely dependent on that, if a brand like P&G or Unilever doesn't like what's happening on the platform, and they threaten to pull the budget, which accounts for like 20% of your revenue? You have no choice," Dorsey told Solana.

    Musk, who rebranded Twitter to X, triggered an advertiser exodus late in 2023 when he appeared to endorse an antisemitic post — the tipping point for many organizations after months of Musk's controversial and confusing remarks.

    The Tesla and SpaceX owner appeared nonchalant when big players such as Disney, IBM, and Apple left his platform, publicly telling advertisers to "go fuck yourself" and calling them the "greatest oppressors of free speech."

    Pundits were shocked. But Dorsey said Musk made the right choice to stick by his vision for a censorship-free "digital town square" and reduce the emphasis on advertisers.

    "You have to build up a lot more than advertising to make that model work. You have to build subscriptions, which Elon is doing. You have to build commerce," Dorsey said.

    That addresses another sore point for fans of old Twitter. Shortly after taking over, Musk revamped its subscription service by giving blue-check verification to paid users and aggressively promoting monthly memberships.

    Building a different business model

    To many, Musk seemed to be axing Twitter's entire business model. But Dorsey said the bleeding is part of decoupling from big advertisers' control and finding new revenue streams.

    "Twitter was a $5 billion a year business," Dorsey said. "I don't know what it is now, but it's obviously nowhere near that, right? These are choices that can be made, but it doesn't mean that it's going to be the same level of business for quite some time, until you figure out a completely different model around it."

    The mass layoffs at Twitter, in which Musk slashed global headcount by 80%, also made sense to Dorsey, who said the majority of employees were in sales.

    Dorsey's comments come as he quit Bluesky, a platform he helped create after leaving Twitter, and told users to use Musk's X instead.

    He then scrapped his entire Twitter follow list except for Musk, Edward Snowden, and the wife of WikiLeaks founder Julian Assange.

    The Twitter cofounder has generally spoken approvingly of Musk, though he's previously said he felt Musk lacked finesse in handling big changes at X, like the messy, abrupt layoffs that led to lawsuits from former employees.

    "It all looked fairly reckless," Dorsey said in June of Musk's moves.

    Musk bought Twitter for $44 billion in October 2022, taking the company private. Less than six months later — after imposing wide-scale changes — he reportedly said that it was worth less than half of what he bought it for.

    Read the original article on Business Insider
  • Why Comet Ridge, Kingsgate, News Corp, and St Barbara shares are rising today

    A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has returned to form on Friday. In afternoon trade, the benchmark index is up 0.45% to 7,757.1 points.

    Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:

    Comet Ridge Ltd (ASX: COI)

    The Comet Ridge share price is up over 5% to 20 cents. This morning, this energy explorer revealed that it has been awarded a $5 million grant from the Queensland Government to undertake a pilot test in Comet Ridge’s 100% held Mahalo East block. The company’s managing director, Tor McCaul, said: “Comet Ridge is very pleased to be the recipient of a Frontier Gas Exploration Grant, a further endorsement of the significant position that Comet Ridge has established in the Mahalo Gas Hub area within the Bowen Basin.”

    Kingsgate Consolidated Limited (ASX: KCN)

    The Kingsgate Consolidated share price is up 10% to $1.74. This has been driven by the release of an update on the company’s Chatree gold mine in Thailand. That update reveals that Plant 1 at the gold mine has now been permitted to operate. This follows a successful inspection by the Department of Primary Industries and Mines. As a result, full commissioning of Plant 1 will commence immediately, followed by a ramp up to full operations.

    News Corporation (ASX: NWS)

    The News Corporation share price is up almost 4% to $38.72. This morning, analysts at Goldman Sachs responded positively to the media giant’s quarterly update. The broker said: “Earnings were largely in-line with our prior expectations (EBITDA +1% vs. GSe), with strength in Digital Real Estate, books and News Media offsetting a softer Dow Jones & Other.” In light of this, the broker has reiterated its buy rating with a $44.70 price target. This implies potential upside of over 15% for investors from current levels.

    St Barbara Ltd (ASX: SBM)

    The St Barbara share price is up 12.5% to 27 cents. Investors have been buying this gold miner’s shares following the release of an update on its Simberi operation. St Barbara advised that its concept study supports 10+ years of production at Simberi. It estimates average annual gold production rising from 70,000 ounces to 75,000 ounces by FY 2027 and then to 230,000 ounces through to FY 2034. This will lead to total gold production of 2 million ounces. CEO Andrew Strelein said “We now have a road map we can pursue that can take us to increased, more profitable production at Simberi into the mid-2030s.”

    The post Why Comet Ridge, Kingsgate, News Corp, and St Barbara shares are rising today appeared first on The Motley Fool Australia.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.