YouTube CEO Neal Mohan took over the top job in 2023.
Kevin Mazur/Getty
YouTube was founded by three PayPal employees in 2005.
Since launching, it's become the most popular free video-sharing platform in the world.
Take a look at the history of YouTube.
In its 19-year history, YouTube has become the undisputed king of online video.
It has well over 2 billion monthly users who watch hundreds of hundreds of millions of hours of content every single day. But many people don't know how YouTube got its start.
The company rose like a rocket ship after its founding in 2005, and was bought by Google just 18 months later. Under Google, YouTube went from being a repository of amateur video to a powerhouse of original content, not to mention a launching pad for its own new brand of superstars, like MrBeast and the Smosh Brothers.
Here is how YouTube got its explosive start, and maintained that momentum to become the biggest force in online video.
In late 2004, three early employees of PayPal — Chad Hurley, Steve Chen, and Jawed Karim — start working on an idea for a website for users to upload video-dating profiles.
YouTube was founded by three early PayPal employees.
Reuters/Lucas Jackson; YouTube
They worked out of Hurley's garage in Menlo Park, California, according to a report from USA Today.
On Valentine's Day in 2005, Hurley — as CEO — registered the trademark, logo, and domain for YouTube.
The website launched to a small subset of users. However, YouTube-as-a-dating-site attracted little interest, forcing the cofounder to take out ads paying women $20 to upload dating videos. Instead, users started uploading videos of all kinds to YouTube.
Based on the feedback, the cofounders transformed YouTube into a free video-hosting platform in April 2005, where each clip had a unique link.
Janet Jackson and Justin Timberlake performed during the Super Bowl Halftime Show in 2004.
Getty Images Entertainment/Frank Micelotta
But the story of how the cofounders got to this point is a much-contested one.
Karim has maintained that the cofounders drew inspiration from two significant events in 2004: Janet Jackson's wardrobe malfunction at the Super Bowl and the devastating tsunami in the Indian Ocean.
However, Chen and Hurley said they thought of the idea of YouTube as a place to upload videos they had taken at a party. Chen said this story was later concocted with the help of an outside PR firm to replace YouTube's dating origins.
In April 2005, the first video ever was uploaded. to the website while YouTube was still in private beta.
The "Met at the zoo" video is only 18 seconds long.
YouTube
The video, called "Me at the zoo," is only 18 seconds long. It shows Karim, one of the cofounders, standing in front of elephants at the San Diego Zoo and talking about their trunks.
Investment firm Sequoia Capital invested $3.5 million in YouTube's Series A round in September 2005.
Sequoia Capital partner Roelof Botha.
Steve Jennings/Getty Images for TechCrunch
Sequoia partner Roelof Botha worked at PayPal with the cofounders, and learned about YouTube after using it to upload old wedding and honeymoon videos.
By December 2005, YouTube officially launched out of beta, and was made available to the public. At this point, YouTube was getting eight million views a day, according to report from Telegraph.
After clips of the Saturday Night Live sketch "Lazy Sunday" attracted millions of views on YouTube in February 2006, NBC demanded a particularly viral clip be removed from the site.
Chris Parnell, left and Andy Samberg in "Lazy Sunday" on "Saturday Night Live."
YouTube
NBC's complaint paved the way for YouTube's "Content Verification Program," which launched in October 2007 to help content creators easily identify videos that infringed on their copyrights and get them removed, The New York Times reported. YouTube and NBC eventually struck a deal to help promote the network's upcoming fall TV line-up in June 2006.
Later in 2005, a video was uploaded to YouTube showing two boys in China lip-synching to the Backstreet Boys. Susan Wojcicki — YouTube's former CEO who was in charge of Google's acquisitions at the time — said the video convinced her it would be worth it for Google to invest in user-generated content by purchasing YouTube.
Later in April, venture capital firms Sequoia Capital and Artis Capital Management invested $8 million in YouTube's Series B funding round, bringing total investment in the site to around $12 million. When YouTube was acquired months later, these firms' investments paid out massively, according to a report from the Times.
After a back-and-forth battle between Yahoo and Google, Google acquired YouTube for $1.65 billion in October 2006.
Google cofounders Larry Page and Sergey Brin met at Stanford.
James Leynse/Corbis via Getty Images
The deal netted the cofounders nearly $400 million each in profits. The same day the deal goes through, YouTube moved to its headquarters in San Bruno, California.
The same month Apple launched its first iPhone model in June 2007, YouTube launched its mobile site.
Chad Hurley, YouTube's former CEO.
David Buchan/Getty Images
Chad Hurley, YouTube's CEO at the time, predicted that mobile would be a "huge market," making YouTube's mobile site a "natural transition."
In July, YouTube teamed up with CNN to host a presidential debate during the 2008 election cycle, featuring video questions submitted by the public. Seven out of the 16 presidential candidates in 2008 announced their campaigns via YouTube.
In July, YouTube teamed up with CNN to host a presidential debate during the 2008 election cycle, featuring video questions submitted by the public.
In August 2007, Google rolled out its first ads on YouTube videos.
YouTube is using pop-up ads to tell users to stop using ad-blockers while watching videos.
YoGinta/Getty Images
Instead of an option for traditional pre-video ads, the company chose a new in-video format featuring semi-transparent banners that popped up on the lower portion of videos and could be clicked away after several seconds.
Later that year in December 2007, YouTube rolled out its "Partner Program" to select creators, allowing them to earn money from their content based on ad revenue.
It allowed YouTubers to turn their hobby into a career. Not even a year later, the most successful creators were earning six-figure incomes, The New York Times reported.
In November 2008, YouTube expanded its ad offerings to include sponsored videos and pre-roll ads, a format YouTube long said it wouldn't resort to because those ads were too intrusive to the audience. However, the benefits paid to brands and advertisers beat out customer experience in the end.
In 2009, YouTube teamed up with media company Vivendi to launch a new music video service called Vevo, responding to music companies' complaints about piracy and unfair licensing terms.
Vevo was launched in response to complaints about piracy and unfair licensing terms.
In April 2010, Felix Kjellberg joined YouTube to create content under the channel name PewDiePie, where he first provided video-game commentary before expanding into vlogging and internet memes.
PewDiePie first joined YouTube in 2010.
YouTube
The YouTuber has since surpassed 111 million subscribers, and was the most-subscribed-to solo creator on the platform for several years.
In February 2017, PewDiePie was the subject of a bombshell Wall Street Journal investigation that found nine of his past videos contained "anti-Semitic jokes or Nazi imagery."
One of those videos showed two men, paid by PewDiePie, holding up a sign reading "Death to All Jews." Both YouTube and Disney cut ties with him, and he was kicked out of YouTube's top-tier advertising program.
In October 2010, Hurley, a YouTube cofounder, stepped down as CEO.
YouTube cofounder Chad Hurley, left, and former YouTube CEO Salar Kamangar.
Reuters/Pascal Lauener; Reuters/Brendan McDermid
In his place, Google appointed Salar Kamangar, who the company said had already been leading YouTube's daily operations for two years, according to a statement provided to BBC.
In April 2011, YouTube officially entered the broadcast business with the launch of YouTube Live.
YouTube Live allowed the site to stream all types of content.
YouTube
YouTube Live allowed the site to stream all types of content, including concerts, sports games, the royal wedding, and the Olympics.
In May 2011, YouTube soft-launched a rental service, from which consumers could choose thousands of movies and TV shows to rent and stream directly on the platform, according to Digital Commerce 360.
Later that year, it invested $100 million into its first batch of original channels in a push to create original content on the platform, according to a report from All Things D. YouTube partnered with established brands and major celebrities, a move that creators viewed as the platform's disregard for their value and influence.
In January 2013, YouTube opened "YouTube Spaces" in Los Angeles, Tokyo, London, New York, and Sao Paulo.
After the pandemic, the company announced the spaces closed and said it would be shifting to a hybrid model, combining pop-up locations with virtual events.
In February 2014, Susan Wojcicki — Google's 16th employee who helped convince the company to buy YouTube — was named the new CEO of the video-sharing platform.
Former YouTube CEO Susan Wojcicki first took the top job in 2014.
Wojcicki said she was stepping down to "start a new chapter focused on my family, health, and personal projects I'm passionate about." She said she would continue to advise the company.
In February 2015, Google launched a "family-friendly" version of the video platform called YouTube Kids.
Google launched a "family-friendly" version of YouTube in 2015.
John Keeble/Getty
The platform filtered content in an effort to ensure it was safe for minors and offers parental controls like limiting screen time and disabling search.
Later that year in August, YouTube Gaming debuted as a way for gamers to livestream their play sessions to a live audience, as well as interact and chat with fans in real-time. The service was meant to counter Amazon-owned Twitch, the dominant force in the live-streaming market, which Google reportedly tried (and failed) to buy a year earlier.
In October, YouTube unveiled YouTube Red, a subscription service that lets customers watch videos and stream music without ads. Three years later, YouTube Red was renamed YouTube Premium and spun off its music streaming to a separate service called YouTube Music.
In March 2017, major companies across the US and in international markets — like AT&T, Johnson & Johnson, and the British government — pulled their ads from YouTube en masse after the Times of London reported that ads were appearing alongside extremist and offensive content.
Hank Green, one-half of the Vlog Brothers, talks about the Adpocalypse in an April 2017 video.
In April 2017, YouTube made the first of two major algorithm changes: It put stricter policies on ads and later revamped its Partner Program to raise the eligibility requirements for money-generating channels.
These changes, along with the advertiser boycott, helped kick off YouTube's first "Adpocalypse," a term creators coined for the advertising impact.
In April 2017, YouTube TV, an on-demand streaming service, officially launched in select markets.
YouTube TV launched in select markets in April 2017.
SOPA Images/Getty Images
The service didn't go nationwide for another two years, and the price has since increased to $72.99 per month.
In November 2017, users found family-friendly videos containing disturbing and abusive content across YouTube and YouTube Kids platforms.
Logan Paul was suspended from YouTube's revenue program because of a controversial video.
YouTube
More advertisers pulled their ads, and YouTube responded by updating its policies around age-restricted content.
In December, YouTuber Logan Paul posted a video of him and friends discovering and filming a dead body in Japan's so-called "suicide forest." Outrage over the video was swift. Although he wasn't banned from YouTube, he was suspended from its top-tier ad revenue program.
Then, in February 2019, YouTuber Matt Watson posted about what he described as a "soft-core pedophilia ring" living in the comments on YouTube videos featuring children. YouTube responded by disabling comments on videos featuring children.
The Federal Trade Commission fined YouTube $170 million in 2019 after investigating whether it violates children's privacy laws by collecting data of children under the age of 13 without their parents' consent.
In February 2020, Google broke out the video platform's ad revenue for the first time since YouTube was acquired.
After going viral for posting a video of himself counting to 100,000, he started uploading similar content, like him spinning a fidget spinner for 24 hours. Now he's known as "YouTube's biggest philanthropist" for frequently posting charity stunts.
The 26-year-old has 262 million subscribers and brings in about $600 to $700 million annually, although he still doesn't consider himself wealthy and has said he puts most of his money back into producing more videos.
Neal Mohan took over as YouTube's CEO in 2023. The company was once Mohan's client in the mid-2000s when he led strategy as adtech company DoubleClick.
Neal Mohan became YouTube's CEO in 2023.
Google
Under Mohan's leadership, YouTube partnered with the NFL to exclusively broadcast Sunday Ticket football.
The NFL said shortly after the partnership began that YouTube's Sunday Ticket package had more subscribers than it did the year prior on DirecTV.
The CEO is also focused on advancing the platform's AI capabilities and offerings. Mohan said that in 2024, tools like Dream Screen and YouTube Create will encourage more content creation.
In April 2024, two YouTube employees detailed the company's strategy to lean on video and audio at a virtual seminar for podcasters.
Former Bachelor, Nick Viall, hosts a weekly video podcast on YouTube called "The Viall Files."
Craig Sjodin/Getty Images
One of the employees said YouTube Music gives users a choice on how to consume podcasts. They can listen to audio-only or watch it in video format — and they can go back and forth between the two if the episode is downloaded with YouTube Premium.
In 2024, YouTube says it plans to build a Vision Pro app down the line.
The Apple Vision Pro headset was released in February 2024.
Justin Sullivan/Getty Images
Initially, it looked like YouTube was going to ice out Apple's fancy new "spatial computing" headset, the Vision Pro.
A YouTube spokesperson initially told The Verge that access to the site on the headset would be through Safari, and that an app wasn't currently in the works.
Competition with TikTok ramped up in 2024 as it puts an emphasis on longer videos.
TikTok incentivizes search and length of videos, competing with Google.
Shriya Bhattacharya
YouTube and TikTok are both battling to get creators to post to their respective platforms. One of the biggest ways they can do that is by payout programs
TikTok's new creator rewards program was announced in March after months of testing it in a beta program. It incentivizes creators to post longer videos by requiring users to create videos over one minute long to qualify for payments.
The new program also prioritizes search and said it will assign videos a "search value" based on how aligned they are with trending search topics. That search value will help determine a creator's payout, in addition to other factors like engagement.
YouTube becomes the top platform for AI influencers in 2024 as some creators and companies start to grow their audience with virtual identities.
AI-generated model Aitana, who has 200,000 Instagram followers and reportedly makes $11,000 a month with brand deals.
The Clueless Agency
The accounts are referred to as digital avatars or AI-generated virtual influencers, and include accounts like Lil Miquela and Magazine Luiza. The AI influencers have been gaining popularity across platforms like YouTube, along with Instagram and TikTok.
According to a report by The Influencer Marketing Factory, YouTube is the top platform for AI influencers, with 59% of participants responding they followed these creators there. TikTok was right behind, with 56%, the study said.
Woodside Energy Group Ltd (ASX: WDS) shares are a popular option for investors looking for passive income.
And it isn’t hard to see why.
Each year, the energy giant shares a portion of its ample profits with its lucky shareholders.
For example, in FY 2023, the company paid out fully franked dividends of 140 US cents per share. This represented approximately 80% of Woodside’s underlying net profit after tax of US$1,660 million, which was the top end of its targeted dividend payout range.
But those dividends have long since been paid to shareholders. What’s next for Woodside shares and its dividend?
Let’s take a look at what income investors could receive if they picked up 1,000 shares in Australia’s leading energy producer.
Buying 1,000 Woodside shares
Firstly, to purchase 1,000 Woodside shares you would need to make a fairly large investment in the company.
At yesterday’s close, the company’s shares were changing hands for $27.63.
This means that you would need to invest $27,630 in order to snap up 1,000 Woodside shares.
But it sure could be worth the investment according to analysts at Morgans. That’s because the broker has the company on its best ideas list with an add rating and $36.00 price target.
If the Woodside share price were to rise to that level, it would value those 1,000 shares at $36,000. That’s 30% higher than the current market value of those units. Morgans commented:
A tier 1 upstream oil and gas operator with high-quality earnings that we see as likely to continue pursuing an opportunistic acquisition strategy. WDS’s share price has been under pressure in recent months from a combination of oil price volatility and approval issues at Scarborough, its key offshore growth project. With both of those factors now having moderated, with the pullback in oil prices moderating and work at Scarborough back underway, we see now as a good time to add to positions.
Passive income
But let’s now focus on the main event â passive income.
Morgans thinks that Woodside shares could generate a nice source of passive income this year and next.
The broker is currently forecasting a fully franked dividend of approximately A$1.25 per share in FY 2024. This equates to a dividend yield of 4.5% and would generate approximately A$1,250 in passive income.
And if you’re willing to be patient, you will be rewarded with a bigger dividend in FY 2025 according to Morgans. It is forecasting a fully franked dividend of approximately A$1.57 per share for the next financial year.
This equates to a 5.7% dividend yield and would mean passive income of approximately $1,570 from your 1,000 Woodside shares.
In summary, that’s passive income of:
$1,250 in FY 2024
$1,570 in FY 2025
Overall, this could make Woodside shares worth considering if you’re not averse to investing in the energy sector.
Should you invest $1,000 in Woodside Petroleum Ltd right now?
Before you buy Woodside Petroleum Ltd shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woodside Petroleum Ltd wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. 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.
The Australian share market typically provides investors with a 4% dividend yield.
And while that it undoubtedly attractive, you don’t have to settle for that.
That’s because there are ASX shares out there that have been tipped to provide investors with above-average yields.
For example, listed below are two ASX shares that are forecast to provide dividend yields of 5% and 6.5% this year. Here’s what you need to know about them:
Analysts at Morgans think that HomeCo Daily Needs would be a great ASX share to buy for dividends.
It is an Australian REIT with a mandate to invest in convenience-based assets across the target sub-sectors of neighbourhood retail, large format retail and health and services.
Morgans currently has an add rating and $1.37 price target on its shares. It believes the company’s high quality tenants and development pipeline mean it is well-placed for the future. The broker said:
HDN’s $4.7bn portfolio is focused on daily needs assets (Large Format Retail; Neighbourhood; and Health & Services) across +50 properties with the top 3 tenants Bunnings, Coles and Woolworths. 70% of leases are fixed; 21% linked to CPI; and 9% based on supermarket turnover. The portfolio has resilient cashflows and continues to be a beneficiary of accelerating click & collect trends. +80% of tenants are national and ~75% of tenants offer click & collect reinforcing the importance of assets being able to support ‘last mile logistics’. Sites are also in strategic locations with strong population growth (+80% metro). HDN offers an attractive distribution yield and the development pipeline provides growth opportunities.
The broker expects HomeCo Daily Needs to pay dividends per share of 8 cents in FY 2024 and then 9 cents in FY 2025. Based on the current HomeCo Daily Needs share price of $1.23, this will mean yields of 6.5% and 7.3%, respectively.
Another ASX share that could offer above-average dividend yields is Telstra. It is of course Australia’s largest telecommunications company.
Goldman Sachs is positive on the company and sees a lot of value in its shares at current levels. It has a buy rating and $4.25 price target on them. The broker also sees opportunities for Telstra to unlock further value down the line. It explains:
Telstra is the incumbent telecom operator in Australia. We believe the low risk earnings (and dividend) growth that Telstra is delivering across FY22-25, underpinned through its mobile business, is attractive. We also believe that Telstra has a meaningful medium term opportunity to crystallise value through commencing the process to monetize its InfraCo Fixed assets – which we estimate could be worth between A$22-33bn. Although there is some debate around the strategic benefits, we see a strong rationale for monetizing the recurring NBN payment stream, given its inflation-linked, long duration cash flows could be worth $14.5bn to $17.9bn, with no loss of strategic benefit.
In respect to dividends, Goldman is forecasting fully franked dividends of 18 cents per share in FY 2024 and then 18.5 cents per share in FY 2025. Based on the current Telstra share price of $3.51, this will mean yields of 5.1% and 5.3%, respectively.
Should you invest $1,000 in Homeco Daily Needs Reit right now?
Before you buy Homeco Daily Needs Reit shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Homeco Daily Needs Reit wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended HomeCo Daily Needs REIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Ramaswamy says he has been buying up shares in BuzzFeed — he says he now owns 8.37% of the company's "A" shares — because he has a plan to turn the struggling publisher around.
He's laid it out in a letter to BuzzFeed's board, but if you're in a hurry I can summarize it for you: Ramaswamy wants BuzzFeed to pull an Elon Musk.
That is: He wants the company to cut costs to the bone, sell off some of its remaining assets, and transform itself into an X-style (that is, the company formerly known as Twitter since Musk bought it) video and audio platform — one that's particularly appealing to commentators from "Tucker Carlson to Bill Maher," according to his letter. He says the first step would be to elect three Ramaswamy-endorsed board members in July.
There's more in the letter if you want to get into it. For instance, Ramaswamy spends a lot of time lambasting BuzzFeed for things the company has published in the past, like the Trump "dossier." And he wants BuzzFeed to apologize, because "by both omission and commission, [it] repeatedly lied on issues of national importance, and so did the rest of the media," he writes.
And if you wanted to take this stuff at face value, you might also note that some things Ramaswamy is pushing for sound like things BuzzFeed CEO and founder Jonah Peretti has said he wants to do — notably the idea of using the company as a creator-friendly platform.
But I don't think that's a particularly useful way to spend your time. Debating the merits of Ramaswamy's plan seems like a cart-horse problem since Peretti has control of the company via a dual-class share structure, which gives him 64% of the company's voting rights. That's a structure specifically set up to give Peretti the ability to fend off takeovers or activist investors like Ramaswamy.
And Peretti does not seem like he's treating Ramaswamy seriously. Here's the relevant part of his response to Ramaswamy's letter:
Based on your letter, you have some fundamental misunderstandings about the drivers of our business, the values of our audience, and the mission of the company. I'm very skeptical it makes business sense to turn BuzzFeed into a creator platform for inflammatory political pundits. And we're definitely not going to issue an apology for our Pulitzer Prize-winning journalism.
So unless Ramaswamy has another card to play, I still don't understand what his end goal is here. (I have asked him for comment.)
I had previously speculated that this was a relatively cheap way for Ramaswamy to keep his name in the news, and to court an audience receptive to Donald Trump's grievance politics. So maybe that's still the main driver here. Though it's hard to believe there's deep interest from MAGA-land about the state of BuzzFeed.
Another option would be for Ramaswamy to play this out a while longer and watch BuzzFeed shares shoot up based on his saber-rattling. BuzzFeed shares closed at $3 today, up 20% from May 22, when Ramaswamy first disclosed his stake. If it keeps heading up, it might be tempting for Ramaswamy to sell off his shares, and then simply declare that he's decided it's cheaper to build his own platform.
In an interview with Bilawal Sidhu on "The Ted AI Show," which aired Tuesday, Toner said Altman had lied to the board multiple times.
As one example, Toner said OpenAI's board learned about the release of ChatGPT on Twitter.
She said that Altman was "withholding information" and "misrepresenting things that were happening in the company" for years.
Toner — one of the board members who voted to kick Altman out — alleged Altman also lied to the board by keeping them in the dark about the company's ownership structure.
"Sam didn't inform the board that he owned the OpenAI startup fund, even though he constantly was claiming to be an independent board member with no financial interest in the company," she said.
Altman keeping that from the board "really damaged our ability to trust him" and that the board was "already talking pretty seriously about whether we needed to fire him" in October, she said.
OpenAI didn't immediately respond to a request for comment from Business Insider.
Toner — currently a director of strategy at the Centre for Security and Emerging Technology at Georgetown — alleges the OpenAI chief also gave board members "inaccurate information about the small number of formal safety processes" OpenAI had in place.
She said that made it "basically impossible" for the board to understand if the safety measures were sufficient or if any changes were needed.
She said there were other individual examples, but ultimately, the board concluded that "we just couldn't believe things that Sam was telling us, and that's a completely unworkable place to be in as a board."
Toner added that it was "totally impossible" for the board to trust Altman's word. The board, she said, had a role to have independent oversight of OpenAI and "not just helping the CEO to raise more money."
But then, last October, the board had a number of conversations where two executives detailed their own experiences with Altman in which they used the phrase "psychological abuse," according to Toner.
She said the executives told the board they "didn't think he was the right person to lead the company to AGI, telling us they had no belief that he could or would change, no point in giving him feedback, no point in trying to work through these issues."
By the time the board realized Altman needed replacing, Toner says it was clear that Altman would "pull out all the stops" to block the board from going against him if he found out. She claims he "started lying to other board members in order to try and push me off the board."
She said, "We were very careful, very deliberate about who we told, which was essentially almost no one in advance, other than obviously our legal team and so that's kind of what took us to to November 17."
But Altman's ouster didn't last long.
As staff threatened to quit and speculation swirled that Microsoft may poach Altman's team from OpenAI and hire him directly, the company's board brought back Altman as CEO less than a week later.
Toner resigned from her role as an OpenAI board member less than two weeks after Altman returned as CEO.
Do you work for OpenAI? Do you have insights to share? Contact the reporter at jmann@businessinsider.comor reach out via Signalatjyotimann.11
When looking for successful stock market investors for inspiration, there is arguably no better figure to turn to than the legendary Warren Buffett.
Over his exceptionally long investing career, Buffett has achieved astonishing returns, turning his company Berkshire Hathaway Inc(NYSE: BRK.A)(NYSE: BRK.B) from a failing textiles mill into the US$881 billion behemoth it is today.
Fortunately for every single investor on the planet, Buffett has always been generous with his wisdom and guidance. His annual letters to the shareholders of Berkshire Hathaway, as well as his famous shareholder meetings, are typically jam-packed with advice, tips and cautionary tales.
So today, let’s discuss how Warren Buffett’s advice is guiding my own ASX share investing in 2024.
How Waren Buffett is helping my 2024 stock market investing
Buffett: Keeping it simple
The investing world is perpetually in the grips of the latest fad. Whether it be lithium stocks, uranium shares or cryptocurrency miners, there always seems to be a sector or corner of the market that is booming as investors flood in to try and grab a piece of the next big thing.
But Buffett has never been a trendjumper or setter for that matter. In fact, he typically warns investors to stay in their lane. Here are two quotes that best sum up Buffett’s attitude:
Beware the investment activity that produces applause; the great moves are usually greeted by yawns.
Never invest in a business you cannot understand.
As such, I’ll be staying away from the hot stocks in 2024, sticking to businesses that I can easily understand. That’s why I’ll be far more likely to buy shares of say Coles Group Ltd (ASX: COL) than Arcadium Lithium plc (ASX: LTM).
Look for ASX shares with something special
Disciples of Warren Buffett would be well aware of the man’s love of what he calls an economic moat. A moat is a durable competitive advantage that a company can possess, which helps it stave off competition:
The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.
This could come in the form of a strong brand, a product that investors find difficult to stop using, or a cost advantage that ensures a company’s products are the cheapest available.
We can see this reflected in Buffett’s own portfolio at Berkshire. Most of Berkshire’s holdings have an obvious moat â Coca-Cola‘s universally known brand or Apple‘s reputation for quality products are two such examples.
Using this principle, I’m hopeful that my next ASX share buy in 2024 will be a company with a strong moat. It might be Transurban Group (ASX: TCL) for its network of almost unavoidable toll roads across Australia or perhaps Lottery Corp Ltd (ASX: TLC) for its exclusive rights to run lotteries and Keno in most Australian states.
Foolish takeaway
In my view, there is no one better than Warren Buffett if you want investing advice and inspiration. As such, my next ASX buy will hopefully be one that Buffett would approve of.
Should you invest $1,000 in Coles Group Limited right now?
Before you buy Coles Group Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Coles Group Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Sebastian Bowen has positions in Apple, Berkshire Hathaway, and Coca-Cola. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Berkshire Hathaway, Lottery, and Transurban Group. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool Australia has recommended Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and dropped into the red. The benchmark index fell 0.3% to 7,766.7 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 expected to fall
It looks set to be another subdued day for the Australian share market on Wednesday following a mixed start to the week in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day 49 points or 0.6% lower. On Wall Street, the Dow Jones fell 0.55%, the S&P 500 was flat, and the Nasdaq pushed 0.6% higher. The latter hit a record high and rose beyond 17,000 points for the first time.
Oil prices surge
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a great session after oil prices surged overnight. According to Bloomberg, the WTI crude oil price is up 3.1% to US$80.15 a barrel and the Brent crude oil price is up 1.65% to US$84.47 a barrel. Traders were feeling confident ahead of the highly anticipated OPEC+ meeting.
Santos supply agreement
The Santos Ltd (ASX: STO) share price will be on watch today. That’s because after the market close on Tuesday, the energy company announced a binding long-term LNG supply and purchase agreement with Hokkaido Gas. The long-term agreement will supply up to approximately 0.4 million tonnes per annum of LNG for 10 years, commencing in 2027, from Santos’ LNG portfolio on a delivered ex-ship basis.
Gold price races higher
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good day after the gold price raced higher overnight. According to CNBC, the spot gold price is up 1.1% to US$2,359.2 an ounce. A softer US dollar boosted the precious metal.
Buy Pro Medicus shares
Pro Medicus Limited (ASX: PME) shares are good value according to analysts at Goldman Sachs. In response to news that the health imaging technology company has won five new contracts worth $45 million, the broker has reiterated its buy rating with an improved price target of $136.00. This implies potential upside of 19% from current levels. It commented: “In our view, PME is well positioned into FY25 given a full year benefit of some large and high profile contracts, in addition to the accelerating frequency and size of new contract wins.”
Should you invest $1,000 in Beach Energy Limited right now?
Before you buy Beach Energy Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Beach Energy Limited wasn’t one of them.
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And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has positions in Pro Medicus and Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Whilst one in four Australians rank superannuation as the most important investment vehicle for retirement and long-term wealth building, 85% are actively investing outside their super funds.
So, how are Australians investing their spare cash?
In this article, we take a look at the most popular investment options identified in a new survey.
What are the most popular investments outside superannuation?
Research by financial advisory Findex shows the most common investments Australians have outside their superannuation are bank savings (64%), property (38%), cash (35%), and shares (34%).
Findex says the range of investment options adopted indicates “not only nuanced preferences and risk appetites but a preference for liquidity and risk aversion among a significant portion of the population”.
When the data is broken down by generation, we see different investment strategies at work.
Generational differences in preferred investments
Here is a summary of how investment choices outside superannuation differ between the generations.
Baby Boomers (born 1945-1964)
Baby Boomers prefer to invest in bank savings (60%), property (50%) and shares (46%).
Gen Xers (born 1965-1980)
Gex Xers like bank savings (57%), property (43%) and shares (36%).
Millennials (born 1981-1996)
Millennials prefer bank savings (70%), property (41%), cash (35%) and shares (33%). Interestingly, the survey shows this age group is the biggest player in five different categories of investments. They are bank savings, as stated; cryptocurrency (22%), ETFs (21%), managed funds (15%), and bonds (8%).
Gen Zs (born 1997-2009)
Gen Z is the biggest investor in cash (42%) and the second biggest investor in bank savings (66%). They also like shares (22%), ETFs (17%), property (14%) and cryptocurrency (13%).
Investing in ASX shares during retirement
Most superannuation funds primarily invest in ASX shares and international equities like US shares.
Individual Australians can do the same thing outside their super by setting up a brokerage account and buying shares with their own funds.
Investors in retirement typically want to maximise their passive income by owning preferably fully franked ASX dividend shares.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bhp Group wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Bronwyn Allen has positions in BHP Group. 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.
Now, rather than thousands of LGBTQ+ themed products, the assortment has around 75 items.
Target said it's made changes "based on guest insights and sales trends."
Target's annual Pride collection is a shadow of its former self after the retailer faced protests from conservative groups last summer.
After a decade of offering a special collection of products sourced from the LGBTQ+ community to celebrate Pride month in June, the retailer said last year it was "rethinking" its cultural merchandising strategy.
Pride this year at Target is shaping up to be a lot smaller, shorter, and quieter than it once was — and there's a good chance you might not see it at all.
Target's online Pride collection on May 28.
Target
Whereas last May, Target's Pride collection featured more than 2,000 items online, this year's assortment consists of several dozen items — fewer than 75 in the regions Business Insider examined, including California, New York, and Wisconsin — as of May 28th.
Now instead of bold statements and functional garments, the selection has more toned-down rainbow-themed apparel and accessories, a few alcoholic drinks, pet gear, and a cutting board emblazoned with "It's Giving Charcuterie."
A seasonal display at Target in Madison, Wisconsin.
Business Insider visited a store on Tuesday in Madison, Wisconsin, and found that Target had yet to set out any Pride merchandise, although the company's website and app said items could be purchased from that location. A guest services employee at the store confirmed to BI that online orders could be fulfilled from the store, and said the store display should be available starting June 1.
For now, what previously had been the location of a front-of-store Pride display was instead occupied by a summer "Swim and Sand Shop." Days earlier the spot had been set up for a pickleball promotion.
A Pride month display at a Target in Wisconsin last year.
Dominick Reuter/Insider
In an interview last year as the conservative firestorm was gaining momentum, CEO Brian Cornell argued against the idea that Target was too "woke."
"When we think about purpose at Target, it's really about helping all the families, and that 'all' word is really important," he said "We want to do the right thing to support families across the country."
"I think those are just good business decisions, and it's the right thing for society, and it's the great thing for our brand," he added.
A year after the remarks, we're getting a better sense of what exactly is changing as the company switches up its strategy, which Target has said was the result of sales trends and guest insights.
"Please know our intention is to bring our culture of care to life for our LGBTQIA+ team members — not just during June, but year-round," Target's VP of Brand Marketing Carlos Saavedra said in an email to the company's Pride+ Business Council earlier this month. "We remain committed to this wonderful community, and we are so excited to celebrate Pride with you all."
A Volkswagen ID.4 charges at a charging station in California. More than a decade into the EV transition, chargers still aren't ubiquitous enough to replace gas stations.
PATRICK T. FALLON/AFP via Getty Images
EVs go a lot farther these days, but chargers are still hard to find.
No one seems to agree whose job it is to build charging infrastructure.
Building enough chargers is just one part of the problem.
Electric vehicles have come a long way — literally.
In the earliest days of the EV transition, a fully battery-powered car (like the first-generation Nissan Leaf that went on sale in 2010) could only drive for about 100 miles on a full charge in the best weather conditions.
That's fine for an enthusiastic early adopter or someone looking to replace just one of their multiple gas cars, but it didn't satisfy the average car shopper.
Today, a mass-market EV can deliver about 300 miles on a single charge. That's a huge improvement in just 14 years, but the great American road trip is still far from achievable in an EV, thanks to one persistent issue: range anxiety.
Car companies and battery suppliers have spent years working to quell this anxiety. But despite the vast improvements in battery technology, EV charging still can't hold a candle to the 5-minute stop to fill a gas tank.
Even as charging times come down (GM boasts its Ultium batteries can gain about 100 miles of range in 10 minutes on a DC fast charger), there simply aren't enough public chargers in the right spots.
Car companies hoped the public charging infrastructure would improve along with them as they built more range into their vehicles. This hasn't really happened, though, and a slew of EVs are hitting the market with nowhere to charge up on a road trip, exacerbating one of the biggest barriers to adoption.
Charging is a hot potato issue
One thing essentially everyone can agree on in the EV transition is that vast and reliable fast-charging infrastructure is essential. Studies have shown that areas with more access to public charging infrastructure have higher rates of EV adoption, even though a majority of charging happens at home.
What no one can seem to agree on is who is responsible for building out public charging infrastructure. And a closer look reveals that perhaps pinning the problem on one entity, public or private, will only slow efforts to grow.
Car companies have made some efforts to build out charging infrastructure, partnering with charging companies and other stakeholders to install public chargers and help new EV buyers install home charging systems.
All these industry efforts have helped to feed an EV charging infrastructure boom in recent years. At the start of 2024, there were some 61,000 public charging stations in the US, more than doubling the amount of stations there were in 2020, according to Pew Research and the Department of Energy.
Still, that's way less than the roughly 120,000 gas stations nationwide, and public efforts to grow charging infrastructure appear to be slow-going so far.
The Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030. Since Congress approved this funding two years ago, only a handful of stations have gone live, according to reports.
Building out charging infrastructure is just one piece of the puzzle
We're still far from the level of infrastructure required for mass adoption, even as the rate of EV sales hits a slowdown.
One slowdown appears to feed the other: a new crop of EV shoppers isn't interested in buying a car that might die on a road trip, and charging companies aren't willing to grow for customers that don't exist yet.
On top of the issue of infrastructure coverage, there is the question of where we will get the power to run all of these new charging stations.
All this means that cross-industry efforts — between car companies, their suppliers, charging startups, and public utilities — will be crucial as we continue to grow the share of electric cars on the road.
