• Former ByteDance worker says she feels ‘much freer’ since quitting and can now take a day off when she’s tired

    Woman walking past Bytedance headquarters
    A woman who worked at ByteDance said life is freer since leaving 996 culture.

    • Chinese tech employees are speaking out against the demand work culture.
    • A former ByteDance employee told SCMP that she once fainted on the job after weeks of long hours.
    • The grueling schedule is known as "996" culture in China.

    Chinese tech workers are choosing not to put up with the demanding schedule associated with their industry.

    Zoe Du, a former ByteDance employee, told the South China Morning Post that she left the TikTok owner in 2020 after 10 years at the company.

    She told the outlet during her time there, she was subject to long hours for six days a week and often worked until 11 p.m. Du said she once fainted in the office after weeks on a grueling schedule.

    Du told SCMP that her life since leaving the company is "much freer," and she has the ability to determine her own schedule.

    The experience she says she had at ByteDance is akin to the popular Chinese work culture known as "996."

    A 996 work schedule encourages employees to work 12 hours a day from 9 a.m. to 9 p.m. for six days a week. Although it's technically illegal in China, it's common for Chinese startups and tech companies to make this schedule the norm for employees.

    But Chinese workers have resisted the taxing expectations that they've said have ruined their work-life balance.

    SCMP previously reported that tech employees are facing burnout before they hit age 30.

    Despite its demands, Du credited ByteDance and other past employers for helping her learn more about management and other key parts of the tech industry. She said she now works on her own startup, but still finds time for herself.

    "When I'm tired, I'll give myself a holiday for a day or two, go on a trip, get closer to nature, or just do some meditation," Du told SCMP.

    Read the original article on Business Insider
  • Bernie Sanders is running for reelection

    Sen. Bernie Sanders of Vermont at the Capitol last month.
    Sen. Bernie Sanders of Vermont at the Capitol last month.

    • Sen. Bernie Sanders is running for reelection in 2024.
    • The 82-year-old is the last senator to announce his reelection plans this year.
    • His 2016 and 2020 presidential campaigns helped ignite the contemporary progressive movement.

    Sen. Bernie Sanders of Vermont, the longest-serving independent in American history, will seek a 4th term in the US Senate later this year.

    The 82-year-old Democratic socialist had been coy about his plans for months. He is the last US senator whose term ends in 2024 to announce whether or not he would seek reelection. He is the second-oldest member of the Senate, behind 90-year-old Republican Sen. Chuck Grassley of Iowa.

    Sanders is immensely popular in Vermont and is all but guaranteed to be reelected in November. Though he is a registered independent, he is likely to have the support of the state Democratic party as well.

    His longshot 2016 presidential campaign against Hillary Clinton helped ignite the modern-day progressive movement, paving the way for figures like Rep. Alexandria Ocasio-Cortez and the "The Squad" while helping to steer the Democratic Party in a leftward direction.

    Sanders ran for president again in 2020, ultimately coming up short to Joe Biden and dropping out of the race weeks into the COVID-19 pandemic.

    Long an outside agitator, Sanders has, in recent years, become a kingmaker in progressive politics and an important institutional player in the US Senate.

    Since the beginning of Biden's presidency, Sanders has served as the chairman of the Senate Budget Committee and later the Senate Health, Education, Labor and Pensions Committee.

    That's allowed him to make his mark on major party-line legislation while pushing for transformative progressive policies, including a 32-hour workweek and a $17 federal minimum wage.

    In recent months, Sanders — the Jewish son of a Polish immigrant — has become the Senate's lead critic of Israel's handling of the war in Gaza, where he's pushed to place conditions on US aid to Israel.

    Read the original article on Business Insider
  • The US crackdown on Russian trade is working as Putin struggles to fund his war

    Vladimir Putin.
    Russian leader Vladimir Putin.

    • Trade with Russia has slumped in the first quarter amid tightening US sanctions, the Financial Times said.
    • Companies in countries such as China are turning to costly underground channels to keep trading.
    • The ruble has also risen in popularity, as other currencies are pulled back.

    Moscow's key trade partners are getting cold feet, and it's causing export volumes to shrink as a US clampdown triggers reprisal fears among those who do business with the Kremlin.

    According to the Financial Times, shipments from Turkey and China have dropped meaningfully in the first quarter. For instance, exports from Ankara have plunged by a third year-to-year, while "high-priority" items sent to the region have fallen 40%. These are consumer goods that are critical to Moscow's war machine.

    Behind the shift is the US Treasury Department. After a December executive order bolstered its sanctioning power, the department has amplified warnings against foreign lenders that facilitate trade with Russia.

    That's included banks in other countries as well, such as the United Arab Emirates and Austria. To avoid Western repercussions, most have tightened their exposure to Russian counterparties, with the repercussions now felt by on-the-ground traders and investors.

    "It's getting harder and harder every month. One month it is dollars, the next month it is euros; within six months you basically won't be able to do anything. The logical endpoint of this is turning Russia into Iran," a senior Russian investor told the outlet, referencing the sanctions laid against Tehran.

    Russia's difficulty in moving either money or goods is a rising threat, as the country has escalated its wartime spending to keep its economy running.

    In China, underground channels are cropping up, as domestic companies look for alternative ways to access the Russian consumer. With many banks no longer an option, currency brokers and cryptocurrency — an asset banned in China — are gaining popularity.

    On the Russian side, the rise of middlemen is cutting into profits. According to FT, metals group oligarch Vladimir Potanin recently blamed these mediator's for his company's falling revenue, citing their 5% to 7% commissions.

    But while such go-betweens are adding both complexity and costs to those still trying to trade with Russia, it may end up also adding difficulty to Western efforts to keep track of trade, sources told the outlet.

    At the same time, the US' crackdown has proliferated trade in the Russian ruble, as other currencies increasingly fall out of favor.

    For instance, rubles are now the mainstay currency for Indian traders buying Moscow crude, after dealers in the UAE cut off payments in dirhams, a Russian banking source said. That's as foreigners are still free to buy rubles on the Moscow Exchange when settling payments with Russian parties.

    In fact, the share of Russian exports paid in rubles jumped to 40% in February, having hovered under 15% in pre-war years. Imports also witnessed a rise.

    Still, the ruble faces restricted convertibility, making it difficult to reach trade volumes once possible under the dollar.

    Read the original article on Business Insider
  • Why so many Gen Zers are struggling to find a connection to work, school, and a sense of purpose

    Teenage girl looking out the window
    More Americans are becoming "disconnected youths" — Gen Zers that aren't participating in school or work.

    • More Gen Zers are "disconnected youths," meaning they're not employed or enrolled in school.
    • People between the ages of 14 and 24 are in their "decisive decade."
    • This decade can determine an adult's economic and social outcomes.

    Young Americans are feeling increasingly isolated from their offices and classrooms, and these "disconnected youth" — or "opportunity youth" — may be ill-positioned for the future.

    People between the ages of 14 and 24 are in their "decisive decade," Brookings Institution researchers wrote in a report published in April. This period in life is marked by major milestones such as graduation, relocations, new jobs, and formative relationships.

    Yet, the report found that more young people today are struggling with their mental health and feeling financially unstable than prior generations. Fewer are enrolling in school, while more are dropping out after enrolling. That's because Gen Zers' teenage and young adult years have been shaped by the pandemic and widespread income inequality.

    Richard Reeves, a nonresident senior fellow at Brookings who co-authored the report, said in a Monday panel the decisive decade, along with socioeconomic circumstances, can determine young Americans' social and economic stability in adulthood.

    "Rather than thinking this period is like a conveyor belt that you just get onto at 14 and drop off again at 24, it's more like a series of stepping stones," Reeves said. "The ability to successfully transition across these stepping stones is highly important for what kind of follows in terms of people's life chances."

    Gen Zers who hit adolescence during the pandemic are especially vulnerable, per the Federal Reserve Bank of Dallas. Loneliness and a tough job market are leaving many Gen Zers feeling stuck, isolated, and unsupported. In fact, they're members of the disconnected youth — defined as Gen Zers who are not in school and not working.

    Some have disenrolled or taken a break from school, while others have graduated but aren't employed. Nearly 4.7 million young people were disconnected in 2021, according to research firm Measure of America.

    Several of these Gen Zers told Business Insider that they're actively looking for work but live in lower-opportunity areas where jobs are sparse, adult support is limited, and mental health resources are few and far between.

    "There are these stepping stones that are quite difficult, quite slippery, but some people have someone on each side helping them across those stepping stones," Reeves said. "Others are supposed to do it on their own."

    Disconnected youth are at risk of long-term stagnation

    Most Gen Zers who are between the ages of 12 and 27 are in this decisive decade. For young people in this age group, their living circumstances have major implications for their long-term health, happiness, and economic stability, the Brookings report found.

    Researchers analyzed education and employment benchmarks for Americans between the ages of 14 and 24 based on data pulled from the 2015-2019 Annual Social and Economic Supplement.

    These benchmarks included enrollment in 9th grade with a 2.0 GPA or higher, high school graduation with a 2.0 GPA or higher, college enrollment or full-time employment three years after graduating from high school, and enrollment or work at the age of 24. The researchers chose to stop their analysis in 2019 since the pandemic disrupted enrollment, work, and living arrangement patterns.

    The data shows that just 60% of young adults met these four milestone indicators. Brookings researchers said this has much to do with their family income level.

    For instance, young people living in higher-opportunity areas during their teenage years might have better upward mobility as adults. Researchers said they are also more likely to enroll in higher education and land better-paying jobs.

    At 21, Brookings found that 94% of those in the highest socioeconomic group — defined as the top quintile of income-earning households — are enrolled in school or working, compared to 78% for the lowest socioeconomic group, including the lowest quintile households. By the time young adults turn 24, just 31% have a bachelor's degree or higher, while 58% work full time.

    This education gap impacts future income: National Center for Education Statistics data shows that 25-to-34-year-olds with a bachelor's degree earned $61,600 a year, compared to $39,700 for those with just a high school diploma.

    Researchers also said gender, race, and family circumstances shape young Americans' financial futures.

    Only half of Black young adults work full-time, compared to 62% of white young adults — and Black, Hispanic, and Asian students have lower rates of school enrollment and employment than white students. Additionally, the report found that young women are less likely to be employed by age 24 than young men.

    Researchers said isolation is another contributor to the disconnected youth phenomenon. More Gen Zers live at home than previous generations, and many are experiencing higher levels of loneliness.

    Data from the World Happiness Report suggests that young Americans are overall not satisfied with their lives — young adults in North America reported some of the lowest levels of life satisfaction in years, ranking 62nd out of 143 countries for this age group.

    Disconnected youth are at greater risk of disability, homelessness, substance abuse, and involvement with the criminal justice system, per the Brookings report.

    How to help disconnected youth

    Although many disconnected youth struggle with school and work, researchers cautioned against a "one size fits all" solution. Reeves said there are many paths toward success for young people — not every student will succeed in the same higher education or career path.

    "It's quite clear from this that there both is not and should not be one narrow track to success, but we should think in terms of opportunity pluralism," Reeves said.

    Jonathan Zaff, a research professor in applied human development at Boston University, said the key to helping young Americans is building adult mentorship networks that provide Gen Zers with opportunities. He also suggested schools invest in lifting students' financial and mental burdens, such as providing free or reduced lunch and bus fares.

    Some schools are already taking steps to help students be more social and engaged, including investing in mentorship and peer-support programs.

    Ian Rowe, senior fellow at the nonprofit policy research firm American Enterprise Institute, said that at his Bronx-based Vertex Partnership Academies, students have a "pastoral connection" three times a day with a teacher who connects with students beyond lessons. He said his school also restricts phones and AirPods during the day so students can better connect with each other.

    "People avoid talking to strangers even though it makes them happy," said Lara Aknin, an editor at the World Happiness Report. "People gain so much intimacy, warmth, and happiness from having deep conversations with others, but we shy away from doing that."

    She suggested using study groups in schools to foster more regular, in-person contact between students.

    Zaff added that young adults need scaffolding to stay connected — whether that means having people at school to help them fill out a FAFSA form or being offered apprenticeship opportunities in high school. He said that adults are important in supporting young people as they make decisions about their lives and futures.

    "We want to make sure that young people feel empowered to exact the agency that we know they have," Zaff said.

    Are you a Gen Zer who isn't employed or enrolled in school? Are you a parent of disconnected youths? Reach out to these reporters at allisonkelly@insider.com and nsheidlower@insider.com.

    Read the original article on Business Insider
  • Many Gen Zers are teetering on the edge of economic security in their 20s. Here’s why it’s such a ‘decisive decade.’

    Young woman sitting in her bedroom
    Researchers are calling ages 14-24 the 'decisive decade.' Gen Zers' teenage and young adult years could determine their financial future.

    • Gen Z's 'decisive decade' of 14 to 24 years can significantly impact their socioeconomic future.
    • Educational attainment and mental health can shape young adults' fortunes.
    • Gen Zers outcomes also depend on factors like family income level, gender, and race.

    Gen Zers are in their teenage and young adult years and it'll shape their fortunes for decades to come.

    The generation — who are between the ages of 12 and 27 according to the Pew Research Center's definition — grew up alongside evolving technology, major elections, and the pandemic. Now, they are getting driver's licenses, attending graduation ceremonies, decorating first apartments, and starting new jobs.

    The ages of 14 to 24, specifically, are what researchers are calling the "decisive decade." According to an April report from the Brookings Institution, Gen Zers' life circumstances during those years can have significant impacts on their socioeconomic future.

    America is already seeing a split among Gen Zers — those who are getting degrees and beginning careers, and "disconnected youth" who are not enrolled in school or working, a cohort that includes about 14% of 18-to-24-year-olds.

    Many young people are feeling anxious about adulthood. And there are three key reasons Gen Zers' decisive decade will shape their ongoing mental and financial health.

    Education has a major impact on future employment

    Educational attainment will inform Gen Zers' future income levels, the Brookings report found, because college graduates tend to land higher-paying jobs.

    Based on data from the Census Bureau's Annual Social and Economic Supplement, the report looked at Americans' education and employment milestones between ages 14 and 24.

    Just 31% of young people had a bachelor's degree or higher by age 24, while 58% worked full time between 2015 and 2019, even before the pandemic disrupted work and school patterns for millions of Americans. The researchers also noted that about there were about 2.5 million fewer high school graduates enrolled in college in 2022 compared to 2010.

    This growing disconnection with education and the workforce correlates to future income. Urban Institute, a research firm, found that a 10% increase in the share of time a young adult spends disconnected is associated with a $7,000 – $9,000 decrease in family income by the time they turn 30.

    "If we empower more young people who have within their own lives, they're quite capable of making strong decisions within this period that can have lifelong benefit," Ian Rowe, a senior fellow at the nonprofit policy research firm American Enterprise Institute, said at an April 29 Brookings event.

    Continued education has other benefits too, researchers found: lower rates of teen pregnancy, substance abuse, homelessness, and criminal justice involvement, as well as improved mental health levels.

    Unhappiness can shape long-term mental health

    Gen Zer's mental health outcomes are shaped by their involvement in school and work, Brookings researchers said. And, the generation is increasingly feeling the weight of isolation and financial stress.

    At work, many Gen Zers are struggling with anxiety, work-life balance, and burnout — more so than millennials, Gen X, and boomers. Unhappiness and social isolation are especially affecting Gen Zers who reached adolescence during the pandemic. And it's hurting their happiness levels.

    In the 2024 World Happiness Report, young adults in the US reported some of the lowest levels of life satisfaction in years, ranking 62nd out of 143 countries for people under 30.

    "Happiness, well-being and greater mental health is predictive of a whole bunch of positive outcomes," Lara Aknin, an editor at the World Happiness Report, said at the Brookings event. "Graduating from high school is a meaningful milestone, but it's also satisfaction with your relationship and earnings later on."

    Additionally, Brookings found that more young people are living with their parents than previous generations. This trend tends to alleviate some mental health risks and reduce adult poverty levels.

    Gen Zers' choice to live in multigenerational households is also a strategy to alleviate financial stress, especially as many young people face staggering student loan costs, rising home prices, and growing inflation levels. 40% of young adults living with their parents cite financial reasons, per 2022 Pew Research Center data.

    Not all Gen Zers start on equal footing

    To be sure, Gen Zers' education, work, and financial outcomes are also dependent on their life circumstances in childhood. Brookings researchers reported that family income level, gender, and race can also determine young people's futures.

    Students who come from low-income backgrounds are less likely to enroll in college, the report found: 89% of students who grew up in the top income quintile enroll in higher education, compared with 51% of those from lowest income quintile.

    21-year-olds from top-quintile families are also twice as likely to have met major milestones like graduating from high school and being enrolled in college than those from bottom-quintile families.

    These trends also vary depending on a young adult's gender and race, researchers said. Women who are disconnected during their "decisive" ages of 16 to 24 are four times more likely to become young mothers than those who are working or enrolled in school.

    Black and Hispanic young adults are also more likely to be disconnected. About a fifth of Black and Hispanic 24-year-olds aren't working or employed, compared to 14% of white and Asian 24-year-olds, the report found.

    Are you a Gen Zer who isn't employed or enrolled in school? Are you a parent of disconnected youths? Reach out to this reporter at allisonkelly@insider.com.

    Read the original article on Business Insider
  • Tesla sends out another wave of layoff notices as employees enter fourth week of job cuts

    A composite image of Elon Musk and the parking lot of the Tesla factory in Fremont, California.
    Tesla CEO Elon Musk told staff Tesla would cut more than 10% of its workforce.

    • Tesla sent out another round of layoff notices on Sunday night, impacted workers wrote on social media.
    • Elon Musk told staff Tesla planned to cut more than 10% of its workforce last month.
    • Tesla has continued to cut more workers over the past few weeks.

    Elon Musk continues to cut deeper at Tesla. The company sent out another round of layoff notices on Sunday night, according to impacted workers who posted about the cuts on social media.

    The latest round of cuts mean that employees at the company are entering their fourth straight week of layoff notices. At least seven Tesla workers took to LinkedIn to say they'd received layoff notices on Sunday.

    "After watching my team gradually slimmed down week after week since mid-April, I received the dreaded 'Hello Employee' email this Sunday afternoon," one Tesla worker wrote on LinkedIn.

    Another worker shared a screenshot of her layoff email on LinkedIn that showed her last day of work would be May 5.

    A spokesperson for Tesla did not immediately respond to a request for comment ahead of publication.

    Workers at the carmaker previously told Business Insider the continual waves of layoff notices had left them on edge, with many looking for opportunities outside of the company.

    "I keep waiting for Elon to send another email and tell us they're finally done firing people," one current Tesla worker, who requested anonymity to speak on the conditions of their employment, said. "We need some level of closure or a sign that we can stop worrying about losing our jobs."

    Since Elon Musk first announced that Tesla was slashing more than 10% of its workforce on April 14, workers have continued to get layoff notices in waves. At the time, Musk said the cuts were due to a "duplication of roles and job functions in certain areas," according to a screenshot of the April email that was viewed by BI. Within hours of that memo, the company began notifying impacted employees that they'd been terminated. But, some employees did not learn there role had been eliminated until they attempted to badge into a Tesla facility.

    In the weeks that followed Tesla workforce reductions have hit different teams — from recruiters and the marketing team to Tesla's Supercharging team. Some Tesla recruiters were laid off, BI first reported.

    Musk reportedly told executives last week that the company had to become "absolutely hard core about headcount."

    Musk has fewer Tesla executives now too

    At least six executives have departed the company over the past month.

    The same day Tesla announced its initial round of cuts two executives resigned from the company. SVP of powertrain and electrical engineering Drew Baglino and VP of public policy and business development Rohan Patel said on X they had left Tesla as of Sunday. At the time, Patel told TechCrunch he'd decided to leave the due to big "overall changes" at Tesla. The reshuffling left Musk overseeing 35 direct reports, according to a report from The Information.

    Ahead of the cuts, Tesla employed over 140,000 workers globally. Notices that Tesla has filed via the Worker Adjustment and Retraining Notification Act show that the company has already eliminated thousands of workers at its sites in California and Texas.

    The recent round of layoffs comes at a time when Tesla is facing slower demand for its electric cars. The carmaker reported lower-than-expected delivery numbers in April.

    Do you work for Tesla or have a tip? Reach out to the reporter via a non-work email and device at gkay@businessinsider.com or via Signal at 248-894-6012

    Read the original article on Business Insider
  • The Fed will spark an economic crash by delaying rate cuts, State Street equity research chief says

    stock market crash
    • The Fed pushing out its timeline for rate cuts could spark an economic crash, State Street's Marija Veitmane said. 
    • Tight monetary policy could lead the US into a "no landing" scenario before a downturn, she warned.
    • But the Fed doesn't look poised to cut interest rates soon as it keeps an eye on inflation.

    The economy is bound to enter a downturn if the Federal Reserve delays cutting interest rates, according to Marija Veitmane, the head of equity research at State Street Global Markets.

    The Wall Street vet warned of an impending economic crash if the Fed doesn't ease monetary policy soon. Higher interest rates are already taking a toll on economic strength, she noted, even if growth numbers looked fine last quarter. 

    "Delaying cuts has real economic impact. So even though for now we're kind of staying on a level path, not cutting interest rates can create economic problems down the line," Veitmane said to CNBC on Monday, predicting the economy would see a "no landing then a crash."

    "I think that's a quite likely economic outlook in our opinion," she warned.

    Investors have been keeping up hope for to the prospect of "no landing," a best-case scenario where inflation falls while growth remains robust.

    But the economy is already showing signs of strain from the burden of elevated interest rates, Veitmane warned. Companies, for one, are being slammed with higher debt refinancing costs, with AAA long-term corporate bond yields rising to 5.28% in April, according to Moody's data. 

    Higher borrowing costs are also weighing on consumers. Commercial bank rates on credit cards rose to 21.6% in February, the highest in at least 30 years, according to Fed data.

    Retail spending also appears to be on the decline as Americans are "really pinching pennies," Veitmane said. She pointed to corporate earnings reports from consumer-heavy companies like Starbucks, which just posted its "weakest" quarterly performance, barring the pandemic and the 2008 Recession, according to one Wall Street analyst.

    "We increasingly begin to hear about things breaking down," Veitmane said.

    Economists have long warned that high interest rates risk could tip the economy into a recession, though GDP growth and the job market remain rock-solid for now. But the Fed isn't expected to ease monetary policy anytime soon, as central bankers still have concerns about the pace of inflation

    Markets are largely expecting the Fed to keep interest rates level at its next policy meeting. Most investors are pricing in just one or two rate cuts for the year, according to the CME FedWatch tool, down from six at the beginning of the year. 

    Read the original article on Business Insider
  • Trump privately tells donors Kristi Noem ‘is somebody that I love’ after she bragged about killing her dog

    Kristi Noem greets Donald Trump at a political rally
    Former President Donald Trump isn't ready to abandon South Dakota Gov. Kristi Noem, one of his political allies.

    Former President Donald Trump isn't completely ready to abandon South Dakota Gov. Kristi Noem amid the uproar over her disclosure that she killed her 14-month-old dog named Cricket decades ago.

    Trump effusively praised Noem and other potential vice presidential picks during a closely watched Mar-a-Lago fundraiser over the weekend, according to audio of the private event obtained by Axios.

    "Somebody that I love," Trump said of Noem. "She's been with me, a supporter of mine and I've been a supporter of hers for a long time."

    Noem had long been viewed as a potential Trump running mate before her disclosure in a forthcoming autobiography about her decision decades ago to kill her family's dog. Since then, the South Dakota Republican's political stock has cratered. Noem has refused to back down from her description of the incident, even arguing that President Joe Biden should treat his dog Commander, who has had many biting incidents, similarly.

    Some Republicans have described Noem as toast amid the uproar.

    Decades ago, Noem wrote that she killed Cricket after she decided that the dog was untrainable and overly aggressive.

    Noem on Sunday tried to defend her memoir, including its inaccurate claim that she met with North Korean leader Kim Jong Un during a combative interview on CBS' "Face the Nation." She also reiterated that killing Cricket illustrates that she won't avoid hard choices.

    "The reason that this story is in the book because people need to understand who I am and some of those difficult decisions," Noem told host Margaret Brennan.

    Read the original article on Business Insider
  • How a romance scammer defrauded 3 Tinder dates out of over $100,000

    A mugshot for Peter Gray, a 35-year-old man from West Yorkshire, UK.
    Peter Gray, 35, was recently jailed for defrauding women out of over $100,000.

    • Peter Gray, 35, from the UK, was jailed in February after scamming three women out of over $100,000.
    • The man met his victims on Tinder and took out loans in their names without their knowledge.
    • "He was just so good at being the person that you wanted him to be," one of the victims said.

    The victims of a romance scammer who defrauded women he met on Tinder out of over $100,000 have spoken out about being targeted.

    Peter Gray, 35, from Yorkshire, UK, found his victims on Tinder and won their trust, BBC News reported. He was sentenced to 56 months in prison in February.

    Romance scams have boomed since the onset of the pandemic, with Americans losing over $1.3 billion to the practice in 2022, up 164% from 2019, Business Insider previously reported. Some 70,000 people in the US reported being a victim of a romance scam in 2022, according to the Federal Trade Commission.

    In the UK, over £92 million (about $115 million) was lost to romance scams in the same year, according to data from the National Fraud Intelligence Bureau.

    Gray used information from driving licenses to scam Tinder dates

    "It was shocking," a sister of one of Gray's victims told BBC News. "You see these things happening on TV. You never believe it's going to happen to you, but believe me, it can."

    Gray engaged in this behavior for several years. In 2018, he matched with a woman BBC News identified as Jessica. On their third date, Jessica went to Gray's apartment and used the bathroom.

    She told BBC News: "I left my bag on his dining table, he went in my bag and took pictures of my driving license and both my bank cards,"

    A few weeks later, Jessica found out Gray had taken out £1,000 ($1,250) from her bank account and a £9,000 loan (about $11,000).

    Something similar happened to a woman identified only as Hannah, who had only been seeing Gray for a week when she realized a loan for £20,000 (about $25,000) had been taken out in her name.

    When Gray showered her with gifts and love declarations — in what has echoes of love bombing — the two got back together.

    Hannah ended up falling pregnant with Gray's baby without knowing his history. Hannah learned more about Gray when her sister tracked down of his ex-partners and had a conversation with her.

    "There's no way that I'm going to let a child be brought up anywhere near such a vile human," Hannah said. "My world had just literally broken apart in front of my eyes in that half an hour conversation."

    The third victim, identified as Elizabeth, began dating Gray in 2020.

    Gray sent her flowers despite her never telling him her address, and she later found out that he had taken a loan out for £10,000 (over $12,000) using information he obtained from her driver's license.

    "You question yourself and your judgment, and it's like, why didn't I listen to my gut?" Elizabeth said. "He was just so good at being the person that you wanted him to be."

    In an article on its website, Tinder shares tips on how users can protect themselves from romance scammers, including using reverse image search to check if matches are genuine, never sending money online, and making sure that people have verified their identity — a new tool the app recently introduced in an attempt to clamp down on scams.

    Tinder did not immediately respond to a request for comment from Business Insider, but a spokesperson told BBC News that it "acts to help prevent and warn users of potential scams or fraud by using AI tools to detect words and phrases and proactively intervene."

    The spokesperson added: "We have implemented various ways to warn users of potential scams or fraud, from in-app features to pop-up messages and education."

    Read the original article on Business Insider
  • Trump hit with 10th gag violation and warning: next time, jail

    Donald Trump and his attorney Todd Blanche attend the former president's Manhattan hush-money trial on May 6, 2024.
    Donald Trump and his attorney Todd Blanche attend the former president's Manhattan hush-money trial.

    • Judge Juan Merchan hit Trump with his 10th gag order violation Monday, along with a warning of jail. 
    • Merely fining Trump $1,000 per violation has not been a sufficient deterrent, the judge said.
    • "Therefore, going forward, this court will have to consider a jail sanction," he said.

    Next time, it could be jail.

    The judge in Donald Trump's New York hush-money trial on Monday found the former president has violated his gag order a tenth time — and warned that another violation could put him in jail.

    "It appears the $1,000 fines are not serving as a deterrent," state Supreme Court Justice Juan Merchan told Trump, addressing him directly as "Mr. Trump."

    "Therefore, going forward, this court will have to consider a jail sanction," the judge warned.

    "The last thing I want to do is put you in jail," Merchan added. "You are the former president of the United States. And you may be the next president as well."

    The logistics for incarcerating Trump would be monumental, involving court officers, corrections officers, and Secret Service agents, the judge noted.

    "The magnitude of such a decision is not lost on me," the judge said.

    "But at the end of the day, I have a job to do," he said.

    Trump's gag order violations — the most recent one involved statements he made to reporters — constitute "a direct attack on the rule of law," the judge said.

    "I cannot allow that to continue. So as much as I do not want to impose a jail sanction, and I have tried everything to avoid doing so, I want you to know that I will," if appropriate, he said.

    The stern warning came first thing Monday morning, before the start of the third week of testimony in the GOP frontrunner's ongoing Manhattan trial on 34 felony counts of falsifying business records.

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