• Taylor Swift fans say you can’t put a price on the memories as The Eras Tour hits the UK, injecting a potential $1.2 billion into the economy

    The queues to get into The Eras Tour at Murrayfield Stadium, where Swift began her 15-show UK tour, began early on Friday morning.
    The queues to get into The Eras Tour at Murrayfield Stadium, where Swift began her 15-show UK tour, began early on Friday morning.

    • Taylor Swift kicked off the UK leg of The Eras Tour with three sold-out shows in Edinburgh, Scotland.
    • Planeloads of fans followed Swift to the UK and other European destinations to catch a concert.
    • This phenomenon, identified by Expedia as 'tour tourism' is becoming increasingly popular.

    It's 7 a.m. and 48 degrees Fahrenheit in Edinburgh, but Callie, Corrie, and KJ say they're not feeling the cold.

    Instead, the three friends who had flown from Gibraltar in southern Europe are running high off the knowledge that in just 12 hours, they will be so close to Taylor Swift that they'll be able to "see her pores," as KJ puts it.

    Thanks to their early start — they got to the stadium when the sun was rising at 4 a.m. — they were among the first in the line to see Swift kick off The Eras Tour in the UK. When the doors opened, they hoped to secure a coveted spot along the guardrail surrounding the stage.

    They faced what would be a marathon of a day with optimism.

    "We've got blankets, and we'll order Uber Eats when we get hungry," Corrie said.

    For the trio, seeing Swift was a long time coming. After the multi-Grammy-winning superstar announced the European leg of The Eras Tour in mid-2023, they started saving, knowing that they had to "travel for Taylor."

    Corrie (left), KJ (center), and Callie (right) traveled from Gibraltar to Edinburgh to see The Eras Tour.
    Corrie (left), KJ (center), and Callie (right) traveled from Gibraltar to Edinburgh to see The Eras Tour.

    That was true for many of the fans Business Insider spoke to outside Murrayfield Stadium.

    Over 1.2 million people are expected to see Swift perform at the 15 shows she has scheduled in the UK this summer, which began on Friday with a sold-out show in Scotland's capital.

    When Swift took to the stage for her almost three-and-a-half-hour set, the joyous screams of the more than 73,000 fans were heard nearly three miles away at Edinburgh Castle.

    "The volume of the singing, the dancing, you guys are performing on another level. Like, I'm captivated," Swift said, marveling at her adoring fans.

    With The Eras Tour set to light up Liverpool, Cardiff, and London in the coming weeks, Swift's presence is expected to boost the UK economy by £997 million ($1.26 billion), according to a report from Barclays.

    The British bank estimates that attendees of UK shows spend an average of £848 ($1,077) per show, including accommodation, food, outfits, merch, and transportation. This is trailing behind the $1,300 that the average US concertgoer spent last year, per a study by QuestionPro.

    Plenty of fans 'Taylorgated' and gathered outside Edinburgh's Murrayfield Stadium to listen to the concert.
    Plenty of fans 'Taylorgated' and gathered outside Edinburgh's Murrayfield Stadium to listen to the concert.

    Part of this stems from the superfans' devotion to Swift, but even casual fans are willing to splash the cash to experience the tour because it has become a cultural juggernaut.

    Amira, 23, a student from Italy who admitted she's "not even that big of a Swiftie" spent over $1,000 to make it to the first night of the UK tour.

    "My friends told me, 'You have to come, you'll regret it if you don't.' I was like, 'Okay!' and then forgot about it for a year. But now we're here, I'm glad they convinced me."

    For Americans, coming to Europe has presented a novel solution to beat the sky-high ticket prices in the US — and the opportunity to make memories.

    Leah, 36, and Simone, 33, from Minneapolis, bought their tickets for the second night from a resale website, and visiting Edinburgh ticked two things off their bucket list.

    "I probably would've come to Scotland at one point, but it was the concert that got me here," Leah said.

    The women reflect the trend of prioritizing experiences and memories over dropping big money on homes, cars, and other commodities. In short, many millennials and Gen Z want to do things, not buy things.

    "We said to ourselves, 'Let's just go and have an adventure," Simone said. "Tickets are outrageously expensive in the US, and this entire trip for both of us was cheaper than our friends back home paid."

    They estimated that the total cost for their weeklong trip, accommodation, and Eras Tour tickets was just over $2,500 each. This is what they would normally spend on a vacation, but this one just so happens to culminate in the show of a lifetime.

    Taylor Swift kicked off her 15-stop UK tour at Murrayfield Stadium in Edinburgh, Scotland on June 7, 2024.
    Taylor Swift kicked off her 15-stop UK tour at Murrayfield Stadium in Edinburgh, Scotland on June 7, 2024.

    Tour tourism

    Planeloads of US fans have followed Swift across the Atlantic. In Paris, where the singer kicked off the European leg of her tour in May with four back-to-back shows, 20% of tickets had been purchased by Americans, per The Associated Press.

    It's what travel company Expedia dubbed 'tour tourism' in its report on 2024 travel trends. Blockbuster tours, such as Swift's and Beyoncé's, have led people to build their vacations around live music.

    "Superfans like to showcase their fandom to their peers," Daniel Finch, managing director of Expedia Brands, said in the report.

    Some fans didn't want to disclose exactly how much they had spent in the pursuit of seeing their idol perform live.
    Some fans didn't want to disclose exactly how much they had spent in the pursuit of seeing their idol perform live.

    "I have spent a lot. A lot," said Sammi, 18, a fan from England with a VIP ticket to Swift's final Edinburgh concert.

    "And I've just brought some merch," she said with a self-deprecating eye roll. "But I just think it's such a special thing, and I didn't want to miss out, so I bought the tickets not really thinking about the extra costs of traveling and where I would need to stay."

    For the high schooler who has been working part-time while studying, her earnings haven't caught up with her Swift-related spending, meaning she's currently overdrawn.

    But she's at peace with the damage to her finances. "At the end of the day, money comes and goes, but my love for Taylor and my memories from tonight will be with me forever," she said.

    The 'Swift lift'

    "Swiftonomics" and "Swift lift" have been coined to define the global superstar's profound economic impact. It has already been felt in North America, South America, and Australia. It's no surprise that Singapore's exclusive deal, which meant the city-state was the "Anti-Hero" singer's only tour stop in Southeast Asia earlier this year, sparked concert envy from its neighbors.

    Many of Edinburgh's hotels have sold out even though prices skyrocketed as soon as the tour dates were announced last July, with prices averaging £686 ($876) per night during Swift's residency, per local media.

    Wilde Aparthotel, a hotel chain by StayCity that offers travelers compact, no-fuss studio apartments, was one of the few establishments still available on the nights of the concerts, albeit at an inflated price.

    According to Ava, the hotel's front desk clerk, these rooms were freed up for people who had decided last minute to buy tickets or try 'Taylorgating' — gathering outside to experience the concert anyway.

    Hotels such as Wilde Aparthotel are embracing the Swiftmania taking over the UK.
    Hotels such as Wilde Aparthotel are embracing the Swiftmania taking over the UK.

    As Marc Crothall, chief executive of the Scottish Tourism Alliance, told BI last month, retail stores, bars, and restaurants have also been looking forward to the "ripple effect" from the shows.

    Mimi's Bakehouse, which has five locations across Edinburgh, seized the opportunity to cater to Swift's fans.

    At the family-run bakery's Leith branch, locals and tourists alike have been enjoying Eras-themed cakes and a new afternoon tea menu.

    The menu includes "Mirrorball" cake pops and southern fried chicken sandwiches with "ketchup and seemingly ranch," a nod to a viral post about Swift's meal of choice at NFL games. A staffer with extensive knowledge of Swift and her fandom created the idea and deep-cut references, and it paid off.

    "Truthfully, the whole hospitality sector has been struggling recently, but yesterday we made our daily target three times over," assistant manager Mariola told BI on Saturday morning, the day after Swift's Murrayfield Stadium debut.

    Already filling up with fans again at 9 a.m., she was preparing for another busy day.

    "We've got the whole team working this weekend, plus extra staff."

    Meanwhile, Pie in the Sky, an independent store specializing in pop culture-inspired tchotchkes, jewelry, and clothing, also became the site of a Swiftie pilgrimage.

    Pie in the Sky has unexpectedly found itself the site of a Swiftie pilgrimage thanks to its coveted unofficial merchandise.
    Pie in the Sky has unexpectedly found itself the site of a Swiftie pilgrimage thanks to its coveted unofficial merchandise.

    In the week before Swift's arrival in Edinburgh, fans were queuing on the cobblestone street outside to buy necklaces emblazoned with the names of Swift's songs, as well as stickers, patches, and prints.

    Erin, the store's director, appeared a little bemused by the store's sudden popularity but welcomed the surge in sales.

    "This is shaping up to be our busiest weekend ever. We've not really promoted ourselves at all. It's all other people sharing videos and photos," she said.

    Friendship bracelets have made Swifties instantly identifiable.
    Friendship bracelets have made Swifties instantly identifiable.

    As the sun set in Edinburgh that night, Swift closed her show with a firework display, and fans headed for the tram service back into the city center as the last of the confetti floated down onto their shivering shoulders — but the energy remained sky-high as they broke into renditions of their favorite songs.

    As KJ had said at the start of the day, seeing The Eras Tour isn't "just about the show and the music. It's the memories, it's the friendship bracelets, it's the community, it's the whole package experience."

    Read the original article on Business Insider
  • Check out the pitch decks these advertising startups have used to raise millions to try to shake up the industry

    Mathieu Roche, CEO of ID5
    Mathieu Roche, CEO of ID5.

    • A new wave of startups are trying to change the digital advertising industry.
    • They're pitching new tech for cookieless ads, streaming TV, and influencer marketing.
    • Here are 28 pitch decks that startups have used to attract investors.

    After years of challenges securing funding, a new wave of advertising startups is raising millions.

    These companies aim to solve the industry's big challenges, such as the death of third-party cookies, the shift from linear to streaming TV budgets, and helping advertisers run influencer marketing campaigns.

    But unlike their predecessors, these new startups are significantly smaller and more focused than many of the early digital advertising companies that raised hundreds of millions of dollars, like MediaMath and Millennial Media.

    Business Insider spoke with founders about how they convinced investors to buy into their companies.

    For example, ID5 sells to brands and publishers an ID product that doesn't use third-party cookies. Companies like Vibe, Telly, and TVScientific aim to shake up how advertisers buy and measure TV ads. Other companies like FreshSound and Catch+Release are focused on helping marketers license media for use in their campaigns.

    Here are 28 pitch decks that top execs and founders have used to sell investors on their companies.

    Read the original article on Business Insider
  • How Elon Musk’s massive pay package stacks up against other CEOs

    Elon Musk
    Elon Musk's massive pay package was struck down by a Delaware judge this year. Now Tesla shareholders are getting their say.

    • The results of the Tesla shareholder vote on Elon Musk's pay package will be announced Thursday.
    • Musk's 10-year pay package, tied to financial goals since 2018, is worth $46.8 billion.
    • Here's how it stacks up to — and outshines — other CEO pay packages.

    The results of the Tesla shareholder vote on Elon Musk's pay package will be announced Thursday. A vote in favor of the multibillion-dollar sum would put the Technoking of Tesla, as he's called by the company, one step closer to pocketing 304 million shares — compensation that a Delaware judge struck down as "unfathomable" earlier this year.

    At Tesla's stock price as of the market's close on Wednesday — and considering the exercise price of $23.34 per share — the 10-year pay package, which Musk earned in 12 tranches by hitting a series of financial goalposts since 2018, would be worth $46.8 billion, pre-tax. That's more than the GDP of dozens of countries, including Iceland and Paraguay, and the market cap of major corporations like Barclays and Kering.

    Furthermore, it's more than any CEO has ever made in a single pay package — both in terms of the sheer amount of money and the amount of control it would give Musk, whose stake in the company would jump from 13% to more than 20%. (The package, announced in 2018, was also rare in terms of its riskiness: The targets Tesla had to hit were deemed moonshots at the time, and if he didn't reach them, he'd make nothing.)

    "There is certainly no comparable in level of pay," Jason Schloetzer, a professor at Georgetown University's McDonough School of Business, told Business Insider. "Even if you divide it by 10, it's still a ginormous amount of money."

    If shareholders vote in favor of the package, that doesn't mean Musk will automatically get that ginormous amount of money; the Delaware judge who originally decided the case or the state's Supreme Court, which would hear any appeal of the case, will make the final decision. And if the pay package does eventually get approved, it's hard to know exactly how much it will be worth when Musk, who is worth $198 billion, per Bloomberg, actually exercises the options. (Because of the lawsuit, which was filed in 2018, he hasn't pocketed any of them yet.)

    Musk's pay package was worth $2.3 billion when it was granted to him in 2018, though its value has sky-rocketed as the stock ballooned and the various tranches of options vested. (Its value has actually fallen this year, though, in tandem with Tesla's share price, from about $56 billion when the January judgment was made.)

    That said, no matter how you slice it, it's an eye-popping amount.

    "When you start seeing someone making a couple hundred million — $250 million, $220 million — it seems that's when questions and media coverage starts to happen," Schloetzer said. "Any way of looking at it, it's an astronomical sum."

    To put Musk's pay package into perspective, we compared it to those of other CEOs. These compensation packages typically include cash and stock options, as well as the value of any perks.

    Here's a look at who has come close to approaching Musk in terms of annual compensation, in order of the size of the pay package at the date granted, according to data provided by Equilar, an executive compensation research firm, which has been tracking CEO pay packages since 2007.

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  • Did Apple just outthink everyone in AI? A chat with tech analyst Ben Thompson

    Sam Altman and Tim Cook
    OpenAI's Sam Altman and Apple's Tim Cook have a deal. Analyst Ben Thompson thinks Apple is the winner in this one.

    • Apple was not a pioneer in AI. But it may be winning the AI race, anyway.
    • Analyst Ben Thompson says that's because of Apple's leverage: All the AI companies want access to Apple's users.
    • And that means Apple's own AI efforts can be smaller.

    The tech world has had a few days to digest Apple's big AI announcement, and there are still lots of questions unanswered. Like, for starters: How big a deal is it for Apple to get into AI? And how risky is it for Apple? And who has the power here — Apple, or its AI partner OpenAI?

    When I try to get my head around big, complicated tech questions, I often rely on Ben Thompson, the influential tech analyst who writes the Stratechery newsletter. So I called him up to talk it through.

    Thompson's main takeaway is that Apple is using its leverage as a phone maker to make AI companies — in this case, OpenAI — do much of the expensive and difficult work. And that Apple gets the upside of AI without incurring many of the costs and risks other tech players are taking on.

    But it's worth reading Thompson's comments at length. The following is an edited excerpt of our conversation.

    Peter Kafka: You seemed pretty enthusiastic about Apple's AI efforts before they announced them on Monday. You seem even more so after the fact. What do you like about what Apple showed off?

    Ben Thompson: I think what's so compelling is actually how little they're doing.

    This entire moment is about generative AI. And I'm not sure people quite realize that Apple's not really doing any generation.

    They do have image generation, which is fairly tightly constrained. But [primarily] they are leveraging this capability to do interesting things that were not possible previously, like tying together different vertical apps.

    I thought the most compelling demo was the presenter getting the message from her mom about her plane arriving, finding the dinner reservation that was in an email, getting information about real-time flight data, and incorporating that all together. It just resonates because that's a real problem that people have.

    It felt like Apple at its best: We're not selling whiz-bang technology; we're selling thoughtful solutions that are super-obvious once you see them.

    I thought that really came through. And it sidesteps a lot of the challenges around generative AI. Like hallucinations, like getting stuff wrong. They're basically just handing that off to OpenAI. And it's going to be branded OpenAI. And you're going to be [told] you're going to OpenAI. And if it screws up? Well, go talk to OpenAI.

    The reason why this is compelling, and why I was optimistic even before the presentation, is that it speaks to their position in the value chain. They own the interface where people conduct their lives. And that gives them the luxury of solving problems only they can solve.

    And then having an interface for the folks that want to spend billions of dollars to do these huge large language models, to plug in and sort of take it or leave it — it's Apple leveraging their position of being the trusted device in people's lives, and getting everyone to dance to their tune.

    Peter Kafka: You mentioned hallucinations, which people understand comes with AI. The Washington Post asked Tim Cook about them, and he said he couldn't promise there wouldn't be any. But it sounds like you're saying the hallucination problems are going to be from the OpenAI queries. And they'll be OpenAI's problems.

    Ben Thompson: I think the hallucination bit is maybe overrated. It's something that's very easy to sort of latch on to, like glue on pizza. It's very funny and kind of embarrassing.

    But if you go to ChatGPT.com, you go into it knowing it might come up with something weird. And actually, 99% of the time, it doesn't.

    And [OpenAI] is very confident, and I think it's reasonable to be confident it's going to continue to get better in that regard. And the fact of the matter is 100 million people or whatever it is, are still using it despite these dangers. Which speaks to the tremendous utility that does exist.

    Apple announced Apple Intelligence at WWDC 2024.
    Apple CEO Tim Cook announced new AI features at this week's WWDC.

    Apple doing what Apple does best

    Peter Kafka: But back to the airport scenario. That sounds great, right? But what if — whether it's a hallucination or a more basic error — I rely on Apple to tell me when I'm picking mom up, where we're going, and they get it wrong? Isn't the risk there much, much higher than a garden-variety hallucination?

    Ben Thompson: Yes. I would say this is the No. 1 risk facing Apple.

    I think there are two risks Apple faces. One is some massive AI breakthrough, such that the phone becomes the commodity, as opposed to Apple making the AI the commodity. Like: Who's commoditizing who? That one is TBD and somewhat out of Apple's control. But it's worth mentioning.

    The real risk is execution risk. Apple does have the luxury of coming to market later, and they benefited from a huge amount of research and improvements. Like shrinking down these models, giving them high efficiencies, so they can run on-device. They've had all those benefits.

    What they are proposing to do — to actually orchestrate different apps and different bits of data — no one has done well, yet. Apple's bet is they can do it well because they have the data, because they are on the device. But there is a real execution risk.

    There is so much of AI that demos well and dies down on the edge cases. And there's a gazillion edge cases. So to the extent this does not work out and does go badly, [the risk] is there.

    Apple is not a fast follower here. They are a leader. And whether this is a place that they have the skills and capabilities to lead effectively is by far the biggest open question.

    Peter Kafka: Do you take Apple at face value when they say this tech only works on our latest, greatest, highest-end machines?

    Ben Thompson: 100%. The No. 1 constraint in running these models is memory. And every single device that supports this has eight gigabytes of RAM as a minimum. That's just the long and short of it.

    I think this is evidence, honestly, about how Apple was late. To develop phones, the whole process runs over several years. I think if they could go back in time, they would have made the base iPhone 15 have eight gigabytes of RAM [so it could run the new AI features].

    Will Apple spark more iPhone sales?

    Peter Kafka: Do you think this spurs device sales? That's obviously the question Wall Street's wondering about.

    Ben Thompson: I think so. And I think it doesn't just spur device sales. I think it potentially spurs higher ARPUs [average revenue per user]. I'm very curious if Apple's going to actually ever start talking about RAM. Because RAM is the key constraint here. If you got a phone with more RAM, you could theoretically run a better model. Are they going to talk about that such that you don't just upgrade your phone, but you actually spend more, to get a higher-end phone? There's definitely the opportunity to do that.

    Peter Kafka: You've been speculating about whether Apple is paying OpenAI, or OpenAI is paying Apple. There's no real reporting out there about the arrangement between the two companies.

    Does it matter in the end whether Apple is cutting a check for several billion dollars or getting a check for several billion?

    Ben Thompson: I don't think it matters. I think it's more interesting as to what it says about the relative power in this value chain.

    In my initial article, I assumed Apple would be paying OpenAI. After the keynote, and [seeing] the degree to which OpenAI was diminished — it's just a link, basically, and they're going to warn you every time you go there, and there was no Sam Altman onstage, and this was all Apple stuff — that made me feel like Apple could have done the exact same presentation without OpenAI. And just say if you want to do chatting, open an app.

    Because of that, I think that they're in a stronger bargaining position. And my guess is there's just no money changing hands at all.

    (Editor's note: Following my interview with Thompson, Mark Gurman at Bloomberg reported that, as Thompson suggested, neither company is paying the other, though they both imagine the deal could generate revenue by getting iPhone users to sign up for paid services sold by OpenAI.)

    Read the original article on Business Insider
  • Ukraine’s big strike on Crimea shows how its older missiles can take out Russia’s most advanced air defenses

    A Russian S-400 missile air defence systems passes through Red Square with a figure wearing military dress in the foreground with their back to the camera
    Russian S-400 missile air-defense systems in Red Square during the general rehearsal of the Victory Day parade in Moscow in May 2022.

    • Ukraine appeared to take out a Russian S-400 system in Crimea with Western ATACMS missiles.
    • The S-400 air-defense system is more advanced than the older ATACMS.
    • Experts told BI that S-400s are Russia's best, but their performance in Ukraine has been mixed.

    Ukraine's latest claimed strike on Crimea is likely another example of how its older, Western-supplied missiles can foil even Russia's most advanced air-defense systems.

    Ukraine's General Staff said Ukrainian forces targeted two Russian S-400 antiaircraft missile units and an S-300 antiaircraft missile unit on the Russia-annexed peninsula overnight on Sunday into Monday, damaging at least two of the units significantly.

    It did not say what type of missiles were used, but Washington DC-based think tank the Institute for the Study of War said it was "likely with ATACMS" — US-made tactical ballistic missiles.

    Rybar, an influential Russian military blogger, said on Monday that Ukraine had attacked Crimea with at least 12 ATACMS missiles.

    The S-400 is Russia's most advanced air defense system. It first became operational in 2007, more than two decades after the ATACMS, which have been in service since 1986.

    Ukraine said none of its missiles were downed in the attack, while mocking Russia's descriptions of its own air defenses.

    "None of our missiles fired were intercepted by the enemy's 'highly effective' air defense," Ukraine's General Staff said.

    The S-400 is Russia's best

    Rajan Menon, director of the Grand Strategy program at the US think tank Defense Priorities, described the S-400 to BI earlier this year as Russia's "top-of-the-line air defense system."

    But he said its performance in Ukraine has been "mixed," with Ukraine able to take some out.

    Ukraine's General Staff said on Wednesday that it destroyed another S-400 and another S-300 in Crimea, without detailing what it used in the attack.

    A rocket launches from a S-400 missile system against a dark blue sky
    A rocket launches from a S-400 missile system at the Ashuluk military base in Russia in September 2020.

    The S-400 was developed as a rival to the US' Patriot system, and the head of Rosoboronexport, the Russian state-owned military company that oversees much of Russia's military exports, has called it the "best long-range air defense system in the world."

    Experts told BI that the system is clearly very capable and feared by Ukraine.

    But they said it has proved vulnerable in Russia's ongoing invasion, and credited Ukraine with using skilled and creative tactics to go after the weapons.

    Last November, the UK Ministry of Defence said that Ukraine had likely destroyed at least four Russian long-range air-defense systems in a week, with Russian reports saying three of them were S-400s.

    A Russian Telegram channel that claims to have sources in Russia's police and military agencies said at the time that ATACMS were used.

    Ian Williams, the former deputy director of the Missile Defense Project at the Center for Strategic and International Studies, said last year that the S-400s "seem to have struggled against Storm Shadows," referring to missiles supplied to Ukraine by the UK and France, which were first used in 2003.

    Fredrik Mertens, an analyst at the Hague Center for Strategic Studies, told BI that "we clearly know that Ukrainian missiles are getting through and at rates that they really pose a problem for the Russians."

    S-400 Triumph systems in Moscow's Red Square
    S-400 Triumph systems rehearse before the World War II anniversary in Moscow in 2017.

    Meanwhile, George Barros, a Russia analyst at the Institute for the Study of War, told BI this week that the problem could actually become worse for Russia.

    He said that new permissions given by some allies to allow Ukraine to use Western-donated weapons to strike military targets in Russia will put its S-400s and other air defenses — those once outside Ukraine's strike range — at risk.

    Crimea at renewed risk

    At the same time, Ukraine said last month that it used Western-supplied ATACMS to strike the Russian Kerch ferry crossing into Crimea.

    Russia annexed Crimea in 2014, before the full-scale invasion of Ukraine began, in a move that was condemned around the world. Most countries do not recognize the territory as part of Russia.

    Ukraine has vowed to retake the region, which Russia uses to launch attacks on Ukraine.

    Philip Karber, a military analyst with expertise on Ukraine, said in April that Ukraine is now in a position to use ATACMS to make Crimea "militarily worthless."

    Correction — June 13, 2024: A previous version of the text misidentified what antiaircraft units Ukraine said were targeted overnight on Sunday. It was two Russian S-400s and one S-300, with at least two of the units reportedly damaged. In addition, the UK Ministry of Defence said in November that Ukraine had likely destroyed at least four Russian long-range air defense systems in a week, but it was Russian reports that identified three of them as being S-400s.

    Read the original article on Business Insider
  • The ocean is still largely unexplored. Underwater tech could help illuminate its mysteries.

    Underwater view from below of a central digital connectivity pillar, creating a network within the sea around it, cataloging the animals and landscape

    This article is part of "5G and Connectivity Playbook," a series exploring some of our time's most important tech innovations.

    Nestled next to a park and tucked inside an inlet, Wahoo Bay boasts a half-acre of glistening, shallow water in Pompano Beach, Florida, home to tropical fish and endangered seagrass.

    But below the surface, the mini marine sanctuary is also a test bed for underwater technology that may take researchers to literal new depths.

    Seven years ago, Wahoo Bay started as a vision for a snorkel park, but COVID-19 delayed its development. That delay "was a bit of a silver lining for us because it got us thinking more about creating an educational environment," said Rob Wyre, the chairman of Shipwreck Park, the nonprofit behind the Wahoo Bay project. The Wahoo Bay team was introduced to scientists from different universities who saw the marine area as a place of the right size and depths and with the right protections to assess new underwater technologies.

    IoT, or the Internet of Things, refers to a network of connected devices and the technology that allows them to collect and share data. On land, this could look like a home security system sending an alert to your phone or a fitness tracker synced with an app that gives you real-time insights into your health. In the ocean, Underwater IoT could look like floating sensors, swarms of crewless vehicles, or a tetherless, wireless robot. Interest in ocean IoT is increasing because of its potential scientific, military, commercial, and conservation applications.

    While only about 5% of the ocean has been explored, experts anticipate that underwater IoT, which can collect and share data from uncharted waters, could expand our understanding of the unknown and unlock the future of ocean conservation.

    Arial image of Wahoo Bay in Florida.
    At Wahoo Bay, professors and students are developing new underwater technologies.

    Underwater IoT can be tricky

    Existing wireless technologies aren't much help underwater because of how they work. On land, IoT devices connect through communications technologies like Bluetooth and WiFi that use radio waves at specific frequencies to transfer information. But standard IoT technologies are ineffective in the ocean because radio signals weaken underwater. Ocean IoT often uses a different type of signal to communicate: acoustic signals or waves.

    Waleed Akbar, a research assistant at the MIT Media Lab, said that while developing underwater IoT is challenging, it's necessary. "We know more about the far side of the moon than we know about the ocean," Akbar said.

    Akbar said underwater IoT could do more than satisfy curiosity about what's below the water's surface. Because these devices can transmit data from unexplored areas, they could enable unprecedented environmental monitoring, such as measuring contaminants or observing coral reefs — providing information that's helpful in curbing the climate crisis.

    Using acoustic energy to power new projects

    Akbar is part of an MIT research group developing low-cost, low-power, batteryless IoT technologies to support underwater networks.

    For example, the group invented a battery-free wireless underwater camera powered by acoustic energy — it converts mechanical energy from sound waves into electrical energy, and it uses sound waves to transmit data. The camera could support marine-life discovery, submarine surveillance, and underwater monitoring, among other endeavors.

    "In the water, there's no central entity like a router you can connect to," Akbar said. "So what we have is a base station, and then sensors can communicate with that using acoustic signals."

    But acoustic signaling has narrow bandwidth, long delays, and high costs. There's also the issue of energy consumption: Generally, preliminary underwater IoT devices have used batteries with limited capacity. Akbar told Business Insider that it's difficult to scale when technologies consume too much power.

    "If you want to make sensors at a large scale, or you want to cover a large area like a chunk of the ocean, you want to make sure that these sensors are cost-effective," he said.

    Researchers have been working on underwater acoustic communication technologies for over half a century. For example, in 1945, the US Navy developed an underwater phone that transmitted and received sound waves instead of radio waves.

    More recently, scientists and engineers have started to leverage this technology to make underwater IoT a reality. Early projects include autonomous underwater vehicles that can spot ancient shipwrecks, sensors that can help with disaster forecasting, and sensor networks that can measure ocean temperatures.

    Today's underwater technology is often hindered by limited battery life and tethers to ships on the surface. Dimitris Pados, a professor at Florida Atlantic University and the director of the Center for Connected Autonomy and Artificial Intelligence, said that to monitor and model the ocean with the granularity necessary to understand how climate change is influencing it, researchers need to access parts of the ocean that existing tech can't reach.

    "It's a field that's catching people's attention," Akbar said. "The technology is developing, and there is a growing awareness that we need to know more about what is happening to the ocean."

    A hotbed of ocean tech

    In late May, Wahoo Bay hosted its inaugural field trip. Fourth graders, equipped with swim masks and pool noodles, splashed above bright-yellow porkfish and silver pinfish. For many, it was their first time snorkeling. Pados said he expects Wahoo Bay will be home to many firsts and innovations.

    Through a partnership with Florida Atlantic University, professors, students, and others can bring new underwater technologies to the site — and more projects are in the works.

    Underwater camera installed against a pole in the ocean floor
    An underwater camera in Wahoo Bay.

    Pados told BI the team had installed water- and weather-monitoring systems and was working on AI-assisted fish-identification software that relies on a self-cleaning 360-degree underwater camera.

    More futuristic tech is in the pipeline, including an underwater GPS and a school of AI robotic fish. "You can imagine that, as long as they can connect with each other, it will be like having a moving network of underwater sensors you can direct to wherever you want," Pados said. "If everything goes well, they'll get outside the bay and into the ocean."

    Pados said that while Wahoo Bay is a testing ground, he and his team want to give visitors — whether they're elementary-school students on a field trip or curious Pompano Beach residents on a stroll — a firsthand look at the developing technology.

    Wyre said he hopes that when young people see the tech that Pados and his colleagues are working on, they'll walk away with new ideas.

    "We've got to support the scientists of tomorrow," Wyre said. "We hope that when students see what's going on in the water of Wahoo Bay, they'll be inspired."

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  • I took a $195 luxury bus from the Hamptons to NYC, and the high-end freebies I got on board were worth more than my ticket

    exerior shot of the hamptons streamliner bus
    Hamptons Streamliner is a new luxury bus offering.

    • I rode the Hamptons Streamliner from the Hamptons to New York City for $195 one-way. 
    • The seats were incredibly comfortable, and a bus attendant made sure I had everything I needed.
    • I had my choice of drinks and snacks, and I got a complimentary travel kit full of luxury products.

    As of May, New Yorkers have a new luxurious way to travel to the Hamptons for the weekend: The Hamptons Streamliner.

    The upscale bus service is a new collaboration between elite helicopter service Blade and luxury bus company The Jet.

    The Streamliner offers a high-end travel experience that's a bit longer (but far cheaper) than Blade's $1,050 one-way helicopter rides.

    I'd typically hop on the Long Island Railroad or the Jitney Bus to get home from the Hamptons, but I had the chance to experience the sophisticated alternative over Memorial Day weekend.

    I ended up being the only passenger on an off-hour Friday return trip, but the Streamliner honored my ticket without hesitation.

    Here's what my ride was like and why my $195 one-way ticket was worth every penny.

    The seats were extremely comfortable — I didn't feel a single bump on the road.
    seats on the luxury streamliner hamptons bus
    The specially designed seats are supposed to be motion-canceling.

    The first thing I noticed on the bus was the luxurious chairs. They looked similar to the comfortable seats on The Jet, which I rode for the first time last year.

    The memory-foam, motion-canceling Hoverseats were undoubtedly the highlight of the journey. The holiday weekend stop-and-go traffic was transformed into a smooth, almost gliding experience.

    The reclining seats also had so much legroom — I could fully extend my legs and still not reach the seat in front of me. Combined with the built-in footrest and provided cashmere blanket, it rivaled the comfort of a first-class airplane seat.

    I sipped and snacked in style.
    hand holding up a plastic wine glass tumbler on fancy bus
    I got a fancy glass of sparkling water.

    One of the joys of traveling on the Streamliner is the complimentary beverage service.

    During my ride, I was offered three complimentary alcoholic drinks, including fun options like espresso martinis. There was also an assortment of teas, coffees, and other nonalcoholic drinks.

    Even the sparkling water was luxurious since it was served in a stylish custom tumbler.

    A selection of snacks (mainly bags of chips and cookies) was also available throughout my trip.

    If I had been taking the trip from NYC to the Hamptons, I could've enjoyed PopUp Bagels (morning buses), Sweetgreen salads (afternoon/evening buses), and fresh chocolate-chip cookies (all buses).

    I had attentive and personalized service from a bus concierge.
    legs under a cashmere blanket stretched out in front of a comfy seat on a bus
    I was extremely cozy under one of the bus' cashmere blankets.

    A dedicated bus attendant was at my service throughout the trip.

    If I needed something or had a question about my seat, the attendant was quick to help and ensured my journey was as comfortable and enjoyable as possible.

    Each bus has only 19 seats, so I imagine the attendant could still be attentive to each customer even if they're on a fully booked ride.

    I didn't hesitate to use the bus bathrooms.
    shot of the bathroom insider the streamliner hamptons bus
    I could fully change and do my makeup in the bathrooms.

    Even the bathrooms on the Hamptons Streamliner are designed with luxury in mind.

    I found all the necessary amenities, including ample toilet paper, soap, and hand sanitizer. The backlit vanity mirror was perfect for my makeup touch-ups, and the full-length mirror in the spacious room made it easy to change into comfy clothes for the ride.

    I loved being able to work and play on the go.
    shot of someone's legs sitting in a comfy bus seat with lots of legroom
    I had enough space and WiFi to work remotely on the bus.

    The high-speed internet was exceptional — I could even use my design programs seamlessly while coasting along Long Island's busy highways.

    The connectivity allowed me to remain productive and work from the bus. But it's also great if you're just looking to stay entertained throughout the ride.

    I think the amenity kit alone was worth the ticket price.
    shot of the luxury amenity kit from the streamliner hamptons bus
    Getting free products from high-end brands is always a win.

    The journey came with a delightful surprise: an amenity kit filled with luxury products from the Streamliner's partners.

    I received a claw clip along with wellness and beauty products from higher-end brands like Kiehl's, Replica, Saie, and Maison Margiela.

    The 1-ounce bottle of Symbiome serum in the complimentary kit retails for $200 on its own. With the $40 perfume sample set, $22 lip oil, $40 box of vitamin-C packets, and more, I'd say I definitely got my money's worth — and then some.

    It was a lovely gift that added to my overall enjoyment of the trip.

    The Streamliner was an incredibly worthwhile investment for comfortable travel.
    shot inside the streamliner luxury bus
    I'd take the luxury bus again in a heartbeat.

    When it comes to Hamptons transportation options, the Streamliner makes the most sense for me — even with the high price tag.

    Reliable internet access means I can work on board instead of wasting a day of PTO. Plus, the food, beverages, and amenity kit more than made up for the cost of the ticket.

    Overall, the trip was worth the $195, and I'll be taking the Hamptons Streamliner for all future trips.

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  • A couple headed to Spain on vacation was instead flown 1,500 miles away to Eastern Europe

    A Ryanair plane
    A Ryanair plane is pictured during landing.

    • A British couple headed to Spain ended up in Lithuania due to an airport error.
    • The couple, with disabilities, booked special assistance and were put on the wrong plane.
    • They told BBC News that the incident left them "distraught" and "scared."

    A British couple who booked a flight to Spain ended up in a different European country after airport staff escorted them onto the wrong plane.

    Andrew and Victoria Gore, both 47, told BBC News that they had intended to board a flight to Barcelona with the budget airline Ryanair as part of a package vacation worth £1,500, or around $1,915, on Saturday, May 25.

    They had booked the trip with their family to celebrate Andrew's birthday.

    But Andrew, who is an amputee, and Victoria, who is autistic, ended up on a different flight to Lithuania after booking special assistance at Bristol Airport in England.

    Passengers with disabilities or reduced mobility are legally entitled to special assistance without an additional charge when flying from the UK, the US, and many other countries.

    Bristol Airport's website states that special assistance can be booked by passengers who have mobility issues or hidden disabilities to help with check-in, getting through security, and boarding the plane. It is facilitated through the airport's service partner, ABM, the website states.

    "We have been away lots of times and always had special assistance, so this was nothing new to us," Victoria told the BBC.

    "The minibus took us to the Ryanair plane and they checked our boarding pass and let us on the plane," she said.

    The couple said their boarding passes were checked by airport staff multiple times, and they were also reassured that their family was already on board.

    They didn't realize there had been a mix-up until they arrived at Kaunas Airport in Lithuania.

    "When I woke up, it didn't look like Spain out the window, I turned my phone on and it said 'Welcome to Lithuania'," Andrew said.

    "I was distraught, and scared. I didn't stop crying," Victoria said.

    The couple said the airline provided them with overnight accommodation and transportation to Riga, the capital of neighboring Latvia, where they could board a flight the following day.

    However, their bags didn't arrive in Barcelona until two days later.

    Andrew and Victoria's experience follows a trend of travel nightmares that are sometimes experienced by airline passengers with disabilities.

    A Department of Transportation report recorded a 108% increase in complaints from flyers with disabilities, from 76 in May 2019 to 158 in May 2022.

    In a statement sent to Business Insider, a Ryanair spokesperson said special assistance is "provided by Bristol Airport's special assistance provider — not Ryanair."

    "As these passengers did not board their flight to Barcelona, their bags were removed from the aircraft at Bristol Airport in line with standard safety procedures," part of the statement said.

    "When it was realised that these passengers had been misrouted in error by Bristol Airport's special assistance provider, and rerouted to Barcelona, their bags were rushed from Bristol Airport to Barcelona to them.

    "We sincerely apologise to these passengers for any inconvenience caused as a result of Bristol Airport's special assistance provider's error and have assured that they will be fully compensated by Bristol Airport," the statement concluded.

    A spokesperson for Bristol Airport told BI that the situation is being investigated, and the couple will be contacted to "direct their complaint to the correct business partner for resolution."

    Representatives for ABM did not immediately respond to a request for comment.

    Read the original article on Business Insider
  • A weird legacy of the Falklands War could get Ukraine 5 fighter jets: report

    A Super Etendard fighter jet landing on France's flagship Charles de Gaulle aircraft carrier in the Persian Gulf
    A Super Etendard fighter jet landing on France's flagship Charles de Gaulle aircraft carrier in the Persian Gulf on January 12, 2016.

    • Argentina is holding talks to send five fighter jets to Ukraine, Argentine media reported.
    • Its Super Étendard jets are inoperable due to a Falkland War-era embargo, local outlet Infobae said.
    • France could fit ejection seat cartridges as part of a weapons swap with Argentina, per the outlet.

    An unusual legacy of the Falklands War could help Ukraine get a new set of fighter jets.

    Argentine news outlet Infobae reported on Tuesday that the country is holding talks with NATO, the US, and France to provide Ukraine with five Super Étendard fighter jets.

    The jets have been out of use and stored at an air-naval base since Argentina acquired them in 2019, due to a Falkland War-era embargo the UK imposed on Argentina, according to the outlet.

    The Falklands War, a ten-week undeclared war between the UK and Argentina, took place in 1982 over control of the Falkland Islands.

    Under existing UK sanctions, the South American country can't get cartridges needed to enable the pilot's seat to eject in case of emergency, the outlet reported, making the jets inoperable.

    Argentina is now holding talks with France to swap the jets for other military gear, such as drones and helicopters, it said.

    According to the outlet, the plan, approved by Argentina's President Javier Milei, would allow France to then fit the ejection seat cartridges and make them operable for use in Ukraine.

    Argentina's foreign and defense ministries and the Élysée Palace in France didn't immediately respond to requests for comments.

    According to the outlet, Argentina's foreign minister, Diana Elena Mondino, discussed the issue in a meeting held at NATO headquarters in Brussels with her French counterpart, Stéphane Séjourné, and during an unannounced visit with US national security advisor Jake Sullivan at the White House.

    It didn't specify when these talks took place or what role the US and NATO are playing.

    Earlier this month, President Emmanuel Macron said France would send Mirage 2000 fighter jets to Ukraine.

    The jet — a multi-role fourth-generation fighter manufactured by French company Dassault Aviation — is a combat-proven aircraft like the F-16, having flown sorties in conflicts in the Middle East and the Balkans.

    But its effectiveness is limited by its air-to-air missiles, Justin Bronk, an airpower and technology expert at the UK-based Royal United Services Institute think tank, told BI last week.

    Meanwhile, an unnamed Ukrainian military source told Reuters in May that F-16s are expected to start arriving in Ukraine in either June or July.

    They could play a vital role in helping Ukraine reclaim Crimea, Frederik Mertens, a strategic analyst at the Hague Centre for Strategic Studies, told BI last month.

    Read the original article on Business Insider
  • I’m a millennial and one of my best friends is a boomer. It’s helped me gain perspective about aging.

    Age gap friendship women posing for photo
    The author (right) and her friend have a 26-year age gap.

    • When I moved in 2019 I was excited to meet other parents.
    • Yet, the closest friend I've made is in an entirely different generation.
    • We bonded over workouts and time on the lake.

    About a month ago, I was sitting in a café with my friend. I'm not one to fret about aging, but I was having some feelings about turning 35 that week. The number felt very much like approaching middle age and leaving the youthful chaos of my 20s and early 30s behind.

    "Don't worry. If I could go back to any age, it would be my 40s," Dorian told me.

    I knew this wasn't just a shallow platitude. Dorian is 26 years older than me, so if she was telling me that the best was yet to come, I believed her. It immediately made me feel better. Not for the first time, I was so happy to have a friend of an entirely different generation to give me the perspective I just can't get from my peers.

    We met at the gym

    I met Dorian back in 2021 when I joined a CrossFit-style gym. The world was opening up after quarantine, and I knew virtually no one in the town I'd moved to in 2019. I joined the gym largely for a social outlet.

    The mid-morning group classes drew a mixed crowd. I was in my early 30s and usually the youngest person there. There were a few parents in their 40s, with kids similar ages to mine (who were 4 and 8 at the time), and people in their 50s and 60s. Out of everyone, I really clicked with Dorian.

    I can't explain why — she was one of the quieter people in the class and we were never partners for exercises. Maybe it was her "Gym and Tonic" t-shirt that made me laugh or her "Zookeeper" vanity license plate that reminded me to embrace the wilder moments of life. Perhaps because we couldn't bond over the frustrations of parenting, we were nudged toward more meaningful topics.

    When it was just us training together, we became close

    If she were closer to my age, I would have suggested Dorian and I get a drink or do a lake day with the kids, but I felt funny moving our gym friendship into the real world because of our age gap. Looking back, I think I was worried she would think it was odd. Really, my hesitation was just a good old fear of rejection.

    Luckily, fate intervened. In the summer of 2022, our gym suddenly changed its model. Many of the customers felt like the rug had been pulled out from under us, so we started a co-op-style training program at a different local gym. During the switch, the mid-morning class size dwindled. Often, it was only Dorian and I working out together.

    That's when our friendship blossomed. Since we were a duo rather than a group, we really got to know each other. When my daughter's pony died unexpectedly, Dorian hugged me while I cried and made burial arrangements. When she was overwhelmed with helping plan her daughter's upcoming summer wedding, I let her vent and reminded her it would all turn out perfectly.

    It was years until I realized Dorian was the same age as my mom

    Despite seeing each other at least five times a week, we never mentioned our age gap. I figured Dorian was about 20 years older than me, but at this point, it didn't matter at all — we were buddies. I asked her about plants, and she tried to help me overcome my brown thumb. We shared recipes. We gossiped and giggled over small-town dramas.

    Then, in 2023, I was talking about planning a surprise 60th birthday celebration for my mom. Dorian responded that she hoped to slip quietly out of her house on her upcoming 60th. Turns out, my new best friend was almost exactly the age of my mom. We also have the same age difference between me and my oldest daughter.

    Yet, that difference doesn't matter at all. If anything, it enhances our friendship. We're not brought together just by shared circumstances or obligations. We've formed a connection just because we like each other. When we get coffee, go for a walk, or spend a day on the dock at Dorian's lake house, we can enjoy spending time together just because.

    On the day of my 35th birthday, Dorian handed me a card. It had the silhouette of a powerlifter squatting on the front, and she'd drawn a ponytail to make the card look a bit more like me. I had recently made a longtime squat goal, so this was perfect. Seeing how well Dorian knew me made me, I so appreciated her friendship, and that we didn't let our age gap get in the way.

    Read the original article on Business Insider