Tag: News

  • Insider Today: Biden’s denial

    Joe Biden

    Welcome back to our Sunday edition, a roundup of our top stories. Ever ask your boss if you can finish work early? A CEO who said he's sick of hearing it from employees has gone viral.


    On the agenda today:

    But first: Takeaways from a chaotic 10 days in the US presidential race.


    If this was forwarded to you, sign up here. Download Insider's app here.


    This week's dispatch

    Joe Biden

    Pressure on Biden builds

    US President Joe Biden had a terrible debate. He's done little to turn things around since and appears to be in denial over the damage done to his campaign.

    That's the story of a critical 10-day period in the US presidential race, which kicked off with Biden's historically bad debate performance.

    Biden's poor performance led to a Democrat freak out and growing calls for Biden to step aside. In a sign of the public mood, BI's list of the Democrats who could replace Biden saw a sudden and dramatic spike in readership shortly after the debate.

    In the days since, there have been excuses, new Biden flubs, and fresh calls from donors and House Democrats for Biden to step down. Republican rival Donald Trump has been posting furiously on social media throughout.

    Biden remains defiant. In a Friday interview with ABC's George Stephanopoulos, he dismissed his low approval rating and questioned polling data that shows Trump is growing his lead in the race.

    Crucially, Biden said that only God could get him to drop out, and that he'd be OK with losing to Trump "as long as I give it my all."

    Neither sentiment is likely to satisfy the many Democrats who have serious concerns about Biden's mental acuity and electability.


    Shadow workers are immersed in darkness behind a screen

    The rise of "shadow stand-ins"

    It's never been easier to offload your labor. Globalized social networks, ubiquitous software tools, and the pandemic have created a perfect storm — and workers are taking advantage of it.

    Across the globe, employees are secretly outsourcing parts or all of their jobs, creating a clandestine world of "shadow stand-ins."

    The workers secretly outsourcing their jobs.

    Also read:


    Younger boomer/older Gen X couple hugging and gazing at sunset, with the wife holding a chubby golden piggy bank

    Golden age of retirement

    While many of their peers face a retirement crisis, some boomers are entering their golden years flush with savings.

    Three boomers who spoke with Business Insider are a bright spot in an increasingly grim retirement landscape: They're benefiting from now-rare pensions, real estate value increases, and stock-market gains.

    How they're winning retirement.


    A graph/plug trending upwards toward electrical plug

    The winners of the AI boom

    They're not flashy, but they might be worth your cash. Construction, electric, and utility companies are set to benefit most from the AI boom.

    They all benefit from the incredible surge in data center construction. And these under-the-radar stocks are already outperforming.

    The boring champs of AI.

    Also read:


    Bobby Jain

    Meet Jain Global's employees

    Jain Global, one of the most anticipated new hedge funds in years, started trading this week. Its founder, Bobby Jain, has spent months building out an impressive roster ahead of its launch.

    BI has been keeping tabs on the fund's hires, and has a running list of 135-plus new employees, including names, job titles, and past employers.

    See our list of new hires.

    Also read:

    An key exec at hot new hedge-fund Jain Global explains how it will be different.


    This week's quote:

    "I didn't want to be a rich kid who used connections to get everything."

    — Pete Ballmer, one of the sons of billionaire and former Microsoft CEO Steve Ballmer.


    More of this week's top reads:

    Read the original article on Business Insider
  • See the secret lounges where the crew on a new ultra-luxury cruise ship spend their free time — from a spa to a hidden bar

    a person sitting in a massage chair in a crew-only area of Silversea's new Silver Ray
    The crew on Silversea's new Silver Ray cruise ship have amenities like a small spa with a steam room and massage chairs.

    • Silversea's new Silver Ray cruise ship has 544 crew members to tend to its 728 guests.
    • The ship has 333 crew cabins and 540 beds, which means some have to share their rooms.
    • The workers spend their free time in various common areas like a secret bar and small spa.

    It takes a village to keep a cruise ship running. And after a long day of work, the villagers deserve a beer and a massage.

    On luxury cruise line Silversea's new ship, Silver Ray, guests can dine on free tins of caviar, luxuriate in the complimentary spa, and drink as many fancy cocktails as their hearts desire.

    It's one of Silversea's parent company, Royal Caribbean Group's, most high-end and contemporary ships. And much of its ritzy onboard experience is made possible by the crew.

    Silver Ray has 544 crew members to tend to its 728 guests.
    person pouring sauce over a guest's plate
    Guests are encouraged to interact with the cooks at the 18-seat, 11-course SALT Chef's Table restaurant, which costs $180 per person.

    This one-to-1.3 staff-to-guest ratio is hard to miss, from the suite's affable butlers to the workers who remember your name after meeting you once in passing.

    This kind of high-touch service is, in part, what distinguishes mass-market cruise lines from their luxury counterparts.

    Workers' hours vary vastly depending on their positions.
    person working in kitchen in Silversea's new Silver Ray
    Rohit Dimir, Silver Ray's executive chef, told reporters during a tour of the ship in June that most of the bakery's production is done at night.

    For example, some bakers work overnight to prepare the bread for breakfast service, while others — like some of the bar stsff — don't start work until the afternoon, although their shift could go into the early morning hours as well.

    They can head to the gym to decompress after a long day (or night) of work.
    a person at the crew-only gym of Silversea's new Silver Ray
    The crew and guest gym have equipment from TechnoGym.

    Alessandro Zanello, Silver Ray's captain, told reporters during a media panel in June that he thinks the crew gym on Silver Ray "is better than most of the guest gyms on previous ships."

    It looks less than half the size of the guest one on Silver Ray — but at it's furnished with staples like treadmills, free weights, and resistance equipment.

    What better way to recover from a workout than to sit in the steam room?
    composite of steam room and massage chair in crew-only area of Silversea's new Silver Ray
    "Every time you walk by, there's somebody relaxing and looking outside the small porthole," Alessandro Zanello, the captain of Silver Ray, told reporters in June.

    That's right. Silver Ray also has a staff-only spa.

    The compact space has a steam room and two plush massage chairs separated by a curtain. They're first come, first serve — and, of course, in high demand, Zanello said.

    Silver Ray's guests can indulge at the ship's eight bars.
    empty bar on Silver Ray
    The crew bar is open from 11 a.m. to 12:30 p.m., 3 p.m. to 6 p.m., and 8:30 p.m. to 1 a.m, according to a sign posted on a bulletin board.

    The crew has a bar, too.

    Most of the ship's guest-facing bars are posh and elegant. This one feels more contemporary, with modern light fixtures and trendy art pieces that brighten the pockets of seating.

    Or, they can spend their free time lounging in the dayroom.
    composite of crew-only lounge of Silversea's new Silver Ray
    The dayroom has several seating nooks, a foosball table, and a coffee machine.

    Here, folks can chit-chat at a large window-lined booth or charge their phones while perusing the internet (using Starlink, of course).

    The dayroom is also equipped with the same coffee machines as the one available in the guest observation lounge. So, instead of sharing an old pot of black coffee, the team can instantly brew themselves a latte or cappuccino.

    The 2,350 workers on Royal Caribbean Group’s new world-largest cruise ship, Icon of the Seas, has a game room stocked with consoles.
    composite of rendering of a game room next to a photo of foosball
    A rendering of the game room on Icon of the Seas (left) and the foosball in the crew-only lounge on Silver Ray (right).

    Unfortunately, Silver Ray doesn't have a staff-only game room. But at least the lounge has a foosball table!

    The conjoined outdoor space is much simpler, furnished with only a few seats and tables.
    crew-only outdoor lounge of Silversea's new Silver Ray
    The outdoor lounge has a platform with sweeping views of the ship's surroundings.

    Workers are also welcome to sunbathe in a small sliver of the guest area on the top deck. But with that comes rules, like no music, food, drinks, or nudity, according to a sign posted on a crew bulletin board.

    Don't expect to see all of your waitstaff at the breakfast buffet.
    empty crew-only buffet of Silversea's new Silver Ray
    Breakfast is served from 6 a.m. to 9 a.m., lunch from 11 a.m. to 1:30 p.m., and dinner from 5:30 p.m. to 8 p.m.

    They have their own small buffet, stocked four times daily for breakfast, lunch, dinner, and late-night from 10:30 p.m. to midnight.

    The crew represents 45 nationalities worldwide. To accommodate all these backgrounds, Rohit Dimir, Silver Ray's executive chef, told reporters during a ship tour in June that their meals are generally a mix of global cuisines, from "oriental soup" to salads and grilled foods.

    The adjacent dining room is open around the clock.
    the crew-only dining area of Silversea's new Silver Ray
    The crew mess has the same coffee machines available to guests.

    Andrea Tonet, Silversea's vice president of product strategy, told reporters that about 98% of Silver Ray's private and public spaces have ocean views and floor-to-ceiling glass walls.

    While the crew mess doesn't have these expansive windows, it does have small portholes that brighten the dense space.

    More contemporary art — like a print of "Girl with a Pearl Earring" with a face tattoo — brings personality to the large dining room, as do the television screens streaming programs like Fox News.

    There’s nothing better than decompressing alone in your bedroom after a long day of work.
    bedroom of deluxe veranda in Silversea's Silver Ray
    The smallest guest suites are 357 square feet.

    For some workers, "alone" isn't part of the equation.

    Silver Ray has 364 guest suites (the smallest of which is pictured above), all with sumptuous amenities like walk-in closets, balconies, and butlers.

    In comparison, the ship's 333 crew cabins have 540 beds, which means some have roommates.

    On the bright side, Zanello said some accommodations have more than one TV. So, if Fox News in the dining room isn't cutting it, and you don't want to watch your roommate's movie, at least you'll have your own TV.

    After all, happy crew, happy cruise.

    Read the original article on Business Insider
  • EVs aren’t exciting anymore. Investors want to hear about software.

    Rivian CEO RJ Scaringe
    Rivian CEO RJ Scaringe.

    • You need more than a battery-powered car to get Wall Street's attention these days.
    • The hype train has moved on to EV software.
    • The latest deal between Rivian and Volkswagen shows how investor interests have changed.

    A battery-powered car alone is no longer enough to excite Wall Street.

    Many companies are now on the same playing field when it comes to EV range, charging times, and the ability to mass-produce these vehicles. That leaves Wall Street investors looking for something else to set an electric vehicle maker apart: software.

    Leading this change in investor interest is, once again, Tesla.

    As an ongoing slowdown in the growth of electric car sales finally pinched Elon Musk's car company this year, the billionaire has been putting more emphasis on the power of Tesla's software to underpin a driverless robotaxi fleet, which would create an entirely new revenue stream just as sales revenue is shrinking.

    The plans helped reverse a weekslong rout in Tesla's stock price as Musk once again hyped "a combination of Airbnb and Uber," that would up utilization of owners' cars when they'd otherwise sit parked and help them gain value over time — the opposite of what usually happens with new vehicles.

    As demand for EVs wanes and Tesla's plans for a more affordable model are no more apparent, investors have latched onto Musk's software-based plans for the company.

    "The key for Tesla's stock looking ahead is the Street recognizing that Tesla is the most undervalued AI play in the market," Dan Ives, a longtime Tesla bull at Wedbush, wrote in a note to clients in early July.

    Tesla has a Robotaxi day scheduled for investors next month that Ives says "will lay the yellow brick road to FSD and an autonomous future."

    All aboard the hype train

    It appears Tesla's competitors are recognizing the same change in the hype cycle.

    Rivian, which has been facing its own issues with a falling stock price and disappointing financial results, is now riding high after announcing a software joint venture with Volkswagen.

    The companies said that Volkswagen will make an initial $1 billion investment in Rivian as part of a software development deal. It's Rivian's second high-profile joint venture with a major automaker since it burst onto the scene a few years ago.

    The first was a $500 million investment from Ford to build EVs in a joint venture Rivian struck before it had even started production. That deal eventually fizzled, and the companies did not end up building a car together.

    Now, heading into the second generation of its pickup truck and SUV lineup, Rivian is joining forces with Volkswagen on the brain of the vehicle.

    After losing its post-IPO luster, Rivian has struggled to boost its stock price in recent years despite decent demand for their cars and well-received redesigns and new models announced earlier this year.

    In a sign that the hype train has moved on from just EVs to the software that powers them, Rivian's stock enjoyed a 49% surge in after-hours trading following the announcement of the VW deal.

    EV startups have always followed Wall Street's interests to raise money

    Joint ventures like the one between Rivian and Volkswagen have become a common occurrence in recent years, and while the contents of these deals often change, the motivation remains the same.

    Startups like Rivian need to follow Wall Street's interests to keep money flowing. This time, a software-focused deal appears to have done the trick.

    As of Friday afternoon, Rivian's stock was still hovering above its more recent averages, up about 22% since its last closing price before the deal was announced June 25.

    The day after Rivian and Volkswagen announced the partnership Bank of America analyst John Murphy praised the deal as a smart money-raising move for Rivian.

    Murphy said the deal, totaling $5 billion in investment from VW over time, will aid in funding Rivian's ongoing production ramp-up of the R2 lineup in Normal, Il, as well as a second factory in Georgia that will house the R3 vehicle platform.

    "We have assumed RIVN would need to raise more capital, and VW's investments in RIVN will prove valuable in helping it achieve the scale necessary to get to positive free cash flow," Murphy wrote.

    While Volkswagen's stock price hasn't enjoyed the same ride as Rivian's, investors are pleased to see the German automaker focusing on improving its software development programs.

    JP Morgan analyst Jose Asumendi called the joint venture "a positive step in the right direction to accelerate the transition of VW Group into becoming a more agile entity."

    Read the original article on Business Insider
  • I went on the world’s newest private jet, an $81 million Gulfstream G700 with its own bedroom for Qatar Airways’ deep-pocketed customers

    A collage of Business Insider's Pete Syme taking a selfie in front of a Gulfstream G700 and the bedroom on board the private jet.
    The author, the Gulfstream G700, and its onboard bedroom.

    • Qatar Airways' private jet subsidiary just took delivery of the first two Gulfstream G700s.
    • The $81 million plane, which has a bedroom, can fly faster and further than its predecessor.
    • Elon Musk was reported to have ordered one back in 2022.

    Gulfstream's G650ER is popular with billionaires including customers like Elon Musk, Jeff Bezos, and Bill Gates.

    But the long-awaited G700 is a step up, capable of going faster and further than its predecessor. Certification of the new jet had been delayed from its target of last December, primarily because the Federal Aviation Administration changed its internal processes.

    While the G700 had previously been displayed at the Paris Air Show, I was among the first to tour one post-certification when it was displayed at a business aviation conference in Switzerland.

    With a longer cabin and improved technology, it's unsurprising that someone as wealthy as Musk has placed an order for the G700, as reported by the Texas-based news site Austonia.

    In May, I flew to Geneva to attend EBACE, Europe's largest business aviation conference.
    A directions sign in the foreground of a corridor with glass windows overlooking the runway of Geneva Airport.
    Six days earlier, the first two Gulfstream G700s were officially received by Qatar Executive — the private jet subsidiary of Qatar Airways.
    Qatar Airways CEO with cabin crew and other Qatar and Gulfstream executives standing in front of the G700.

    The G700 was finally certified by the Federal Aviation Administration in March, making it the world's newest private jet.

    Qatar was evidently proud to show off the new jet. It was the only one on display at EBAXE that wasn't fenced off, and anyone could line up to see on board for a few minutes.
    A Gulfstream G700 operated by Qatar Executive on display at EBACE in Geneva, May 2024.

    However, unlike previous years, Gulfstream itself was not exhibiting at EBACE.

    Underneath the cockpit window is the enhanced flight vision system, a camera that helps pilots land in low-visibility conditions.
    A close up of the enhanced flight vision system on the nose of a Gulfstream G700
    Powered by Rolls Royce's Pearl 700 engines, it can reach speeds of Mach 0.925 (709 mph) with a range of 8,630 miles — one of the farthest in the industry.
    A three-quarter side view of a Gulfstream G700 at EBACE in Geneva 2024

    That gives the G700 both a faster speed and a further distance than its predecessor.

    Boarding the jet, you first see the galley with an oven, microwave, and plenty of counter space.
    A collage of a Gulfstream G700's galley area shows two ovens and the countertop.
    Opposite this was a seat for the cabin crew, with a sliding door for privacy.
    A crew seat on a Gulfstream G700
    Qatar's touches to the fully customizable interior were evident, especially with the elaborate carpet. The cabin is a spacious 6 feet 5 inches tall.
    The cabin of a Gulfstream G700 operated by Qatar Executive

    The G700's cabin can be pressurized to 2,916 feet, the lowest altitude of any business jet — easing the effects of fatigue and jet lag.

    Past the front seating area was an entertainment space with a sofa and a TV that pops up from the sideboard.
    The living area of a Gulfstream G700 with a TV and a divan
    There's another screen at the back of the cabin, where four people can sit round a table.
    Four seats at a table on a Gulfstream G700 operated by Qatar Executive

    This G700 can seat up to 13 people. Plus, the divan and chairs can turned into beds giving space for eight people to sleep on board.

    Qatar Executive describes the cabin as "whisper-quiet." That's helped by the flush design of the overwing emergency exit.
    A seat by the emergency exit on a Gulfstream G700

    The cabin air is replaced every two to three minutes, and Qatar Executive says the ionizing system provides "the highest air quality possible today in a business jet."

    I sat in one of the leather seats, which have adjustable headrests and a pop-up legrest. Of course, it was incredibly comfortable and worlds away from my easyJet flight that morning.
    Business Insider's Pete Syme sat on a Gulfstream G700 operated by Qatar Executive at EBACE 2024
    From the seat, I could experience Gulfstream's signature "panoramic windows." It's hard to sum up just how expansive the circular shape makes the view, compared to a usual plane window.
    A panoramic window on a Gulfstream G700 shows the wing and a view of EBACE
    The lights and window shades can be controlled by buttons next to each seat.
    Buttons for lights and windows on a Gulfstream G700
    And there are charging ports set into the wall at an angle for improved convenience.
    Charging ports on a Gulfstream G700
    The main comfort is the bedroom in the aft living space.
    The bed on a Gulfstream G700
    It had plenty of stowage space on the side and another TV at the foot of the bed.
    The bedroom of a Gulfstream G700
    I don't think there would be many morning views much cooler than rolling over to see the skies out of the huge window.
    A close up of the bed's pillows and a panoramic window on a Gulfstream G700
    There's more stowage space, a lamp, and a drink holder tucked behind the pillows.
    A drinks holder and lights behind the bed of a Gulfstream G700
    I thought the bathroom layout was a bit quirky with the mirror perpendicular to the sink.
    The bathroom on a Gulfstream G700

    But that allows for a larger mirror and space for a door which provides easy access to the hold in flight.

    Read the original article on Business Insider
  • Dating a carpenter taught me my career is not my identity. He doesn’t worry about getting laid off and just focuses on the next job.

    Nia Springer-Norris and her partner, Tom, standing in front of bookshelves. She is wearing a yellow printed dress and he is in a red t-shirt and jeans.
    Nia Springer-Norris and her partner work in different industries and learn from each other.

    • I'm a journalist and consultant, and my partner is a carpenter.
    • He changed my perspective on work and taught me my career isn't my identity.
    • Watching his cycle of layoffs made it bearable when I lost my job.

    I met Tom at a bonfire hosted by a friend of mine. That night, he sent me a message, and the conversation hasn't ended nearly four years later. We became an item when I separated from my now-deceased ex-husband.

    When Tom said he was a carpenter, I thought of artisan furniture in quaint New England shops. The reality was that he worked in concrete and did hard, manual labor that ruined his knees and led to arthritis in his mid-40s.

    I had just started my writing career when Tom and I met

    My family likes to say we're a union family — my great-grandmother Maida was a dressmaker whose organizing career took her to Africa, England, and Turkey to advocate for labor rights. Now, we are rather white-collar. My granddad — Maida's son — was an attorney and my grandmother led a foundation. I went to private schools and toured the country performing slam poetry with my mother.

    I spent my 20s hopping around the country before having kids in my 30s. This delayed my career. In my mid-30s, I began writing and returned to school. My writing career had just begun when Tom and I became acquainted.

    We worked in entirely different industries

    The first time he told me he'd been laid off, I told him I was sorry. He wasn't. He told me all jobs in the trades end eventually, and layoff is an inevitable part of the process. This was new to me — most jobs, I've worked a few years until I quit.

    As I finished undergrad, became a serious journalist, and began my master's degree, the only thing changing in his world was the addition of me and my children. His work remained the same. A job. A layoff. Another job.

    I was doing all new things: teaching public speaking to college freshmen, interviewing authors, learning about artificial intelligence for my thesis.

    Before my last semester of graduate school, I accepted a senior leadership job at a nonprofit. When my position was eliminated due to a funding cut six months after I started, watching his cycle of layoffs made mine bearable.

    He often says, "I came here looking for a job, and I'll leave here looking for a job." I tried to keep that attitude and stay optimistic. I put my head down and pitched editors and I made enough money that I was kicked off unemployment before my second check.

    That summer, I took a part-time consulting job and focused on my journalism career. I wrote my first cover story, and developed ongoing relationships with editors that have kept the money consistent.

    Nia Springer-Norris wearing a cap and gown kissing her partner Tom on the cheek on an enclosed porch.
    Nia Springer-Norris is a journalist and her partner is a carpenter.

    We've learned from each other

    As my career blooms, Tom's is winding down. He is set to retire with a full pension by 50 and he would like to do something else — perhaps continue his education or open a deli — when he is done.

    Construction is slow and he has been off for six months. But he takes good care of our home and loves my children like his own. He would like to find another job doing furniture assembly, which is easier on the body than concrete — but the offices he put together last year are empty because none of us "office folk" want to return in person.

    He's taught me that my career is not my identity. Jobs are just jobs, and I put most of my energy into my writing. He says that I've taught him to look forward to retirement and a chance to do work that is more meaningful — and possibly even slightly enjoyable.

    We've made each other more entrepreneurial. And I know I wouldn't want to do it with anyone else.

    Read the original article on Business Insider
  • A Cracker Barrel hostess reveals how the restaurant tries to sell you more food

    Cracker Barrel sign
    A Cracker Barrel hostess said that seating and serving busloads of diners are one the biggest challenges of the job.

    • Cracker Barrel is trying to regain relevancy with diners, its CEO said earlier this year.
    • One restaurant hostess said that her Cracker Barrel location struggles with worker turnover.
    • She also described how management aims to upsell customers on drinks and take-home meals.

    At a Cracker Barrel in the Midwest, busloads of diners pull in from the interstate most Saturday nights and swarm the entrance.

    "You're at the hostess desk, someone comes up, and I say 'Hey, welcome to Cracker Barrel. How many will be dining with us today?' and they'll say 'It's 48.'" The hostess asked not to be named, citing potential retaliation at work. Business Insider verified her identity and employment.

    The hostess said these big groups, which can include seniors heading home from a casino or high school sports teams on their way to a tournament, can quickly overwhelm the restaurant's waitstaff. She said frequent employee turnover can mean many waiters have been on the job for just a few weeks and have only just grasped the menu and workflow.

    "It's just absolute hell," the hostess, who has worked at the restaurant for about 18 months, said of the Saturday evening rush. Another Cracker Barrel employee, a server in Pennsylvania, also described high turnover at their store.

    Cracker Barrel CFO Craig Pommells said during an earnings call in November that the chain has increased its investment in worker pay in hopes of reducing employee turnover.

    To be sure, most restaurants face high turnover rates. The restaurant industry's turnover rate last year was 74% — the highest of any industry in the US, according to Toast, a restaurant software company.

    Cracker Barrel is upselling customers with packaged food

    The hostess said her Cracker Barrel location is increasingly trying to get customers to buy more food and drinks through various upselling strategies.

    She said her managers recently instructed her to approach diners with a tray of entreés packaged to go and ask them if they'd like to buy one. The entrées, which cost $5 each, are one way that Cracker Barrel executives say they're trying to increase how much patrons spend during a visit.

    "You're supposed to come up with scenarios," she said, referencing instructions from management. "'You have a kid at home, give him some meatloaf.'"

    She said some customers have balked at this selling strategy, with one telling her, "It seems like Cracker Barrel is trying to squeeze every dollar out of its patrons."

    A Cracker Barrel spokesperson told BI that patrons have "responded positively" to the $5 take-home entrées since the chain introduced them early last year.

    "As a company, Cracker Barrel communicates menu updates and innovations to guests in a variety of ways including in-store through our servers and hosts and through signage throughout the restaurant and digitally though email, social media and through the Cracker Barrel app and Cracker Barrel Rewards," the spokesperson said.

    Upselling is hardly unique to Cracker Barrel, however, as anyone who has dined out would know.

    It's a common strategy used in restaurants, stores, and online to inflate ticket totals and earn more profit on every customer.

    And Cracker Barrel could really use a boost in customer spending.

    Cracker Barrel said in May that quarterly revenue declined 1.9% to $817.1 million year-over-year. Same-store sales dropped 1.5%, and same-store retail sales fell 3.8% in the same period.

    Do you work at Cracker Barrel or another major restaurant and have a story idea to share? Reach out to this reporter at abitter@businessinsider.com

    Read the original article on Business Insider
  • Netflix CEO believes streaming has made the world ‘safer’

    Netflix co-CEO Ted Sarandos, 59.
    Netflix co-CEO Ted Sarandos thinks the world is a better place because of streaming.

    • Netflix's Ted Sarandos says streaming has made the world a "smaller and safer place."
    • He says platforms like Netflix expose viewers to other cultures, making them more empathetic.
    • He added that more authentic stories are likely to resonate with global audiences.

    According to Ted Sarandos, co-chief executive of Netflix, his company is making the world a better place.

    Streaming is "not only great for culture, in a strange way, I think it's been great to make the world a safer place," Sarandos said on the the tech podcast Hard Fork.

    Sarandos, who stepped into his role in 2020, now leads Netflix with co-chief executive Greg Peters. During his tenure, the company has raked in massive profits from the global streaming explosion. It brought in $9.37 billion in revenue in the first quarter of 2024 and added some 9.3 million new subscribers worldwide.

    Sarandos said that by exposing viewers to stories from other cultures, we've collectively become more empathetic of one another. He said the 2011 Oscar winner, The Separation, is a good example.

    The film is about a middle-class Iranian couple forced to separate for the prospect of a better life. It makes you realize "how much we have in common with each other around the world," he said. "Storytelling makes the world a smaller, safer place."

    He believes that Netflix algorithms have helped create a melting pot of streaming content.

    The new series, Baby Reindeer, now among the top shows on Netflix, originally took off with viewers in the UK before Netflix's algorithms started presenting it to viewers worldwide. "When something gets that big in one country, it's likely there's a lot of audience for it outside that country," Sarandos said.

    The series follows the story of a struggling comedian who contends with a female stalker. Sarandos said he believes global viewers have picked up on its authenticity. "It's a really incredible human story," he said.

    Read the original article on Business Insider
  • This Gen Xer thought he was too old to work at Google. Then he landed a $320,000 job at the tech giant without applying.

    Mark Boardman
    Mark Boardman just landed his dream job at Google at 43 years old.

    • 43-year-old Mark Boardman thought he was too old to work at Google when he landed a $320,000 offer.
    • Prior to accepting it, Boardman worked at BCG and had taken Google on as a client.
    • These are his tips for breaking into Big Tech at an older age.

    This story is based on a conversation with Mark Boardman. Business Insider has verified his employment and salary.

    43-year-old Mark Boardman had just about given up on his dream of working at Google.

    About a decade ago, Boardman applied to Google and was in the interview process when the recruiter left, and he lost his opportunity. That was the last time he applied.

    But a few months ago, Boardman was working at Boston Consulting Group and had taken the tech giant on as a client. Shortly after he started working with them, they approached him with an open role at Google Cloud on its sales team — and ended up offering him a £256,000 compensation package, or over $320,000.

    Boardman said the high salary and benefits were irresistible, and it was the best career move he'd ever made. But he was also surprised by the offer, as he thought he was too old to be taken on by a company like Google.

    Big Tech companies often hire younger demographics; one reason for that, Boardman suggests, is that it's harder to mold a candidate to a company once they have about 20 years of work experience under their belt. Statistically, he's right.

    The US Bureau of Labour shows a decrease in employed workers in tech roles after they reach the 45-year mark. While ageism is hard to prove, several older workers have spoken out about struggling to find a job. One laid-off tech worker was recently told that he was too old for a job in the field after three decades of experience.

    But it's still possible to get a Big Tech job at a later stage, as Boardman proves. Companies are looking to diversify their employee pool, and Boardman says bringing in candidates from different age groups is a part of that.

    These are his tips to break into the tech field at a later age.

    Make sure you're knowledgeable about the company

    Since Boardman had Google as a client, he was in a unique position where he already knew about the products and how the team functioned. After landing an interview, he didn't have to fake what he knew or learn everything for the first time.

    He also knew the people on the team, which made it easier for him to understand what they were looking for. Boardman suggests networking throughout your career and attending professional events to make connections and get to know the people at companies you're applying to.

    Don't be afraid to speak up

    As an older candidate, Boardman leveraged his experience in the field to give honest answers and authentic feedback to Google.

    Boardman compared Google to a high-profile celebrity — when people meet them face-to-face, they "only hear good stuff." While interviewees often lead with flattery, Boardman said he wasn't afraid to speak the good and the bad. Boardman found when he was able to ask tough questions and lead with honesty, clients would open up to him and it would help break a barrier.

    Find what makes you happy

    Boardman said at a company like Google, you can't apply more than once a year. When he went through the interview process about a decade ago, he said the job was a perfect fit. After that opportunity passed, Boardman said he didn't come across a role he felt was the right match for him.

    "You can't force it," Boardman said. "We always get stressed and think things aren't going how we want it to go and compare ourselves."

    Boardman said that's the wrong approach. Rather than pigeonhole himself into one company, he found success at BCG, rose through the ranks, and eventually ended up at his dream job. He suggests finding what you're good at and working with like-minded people.

    Don't get complacent

    Boardman didn't stumble into a job at Google — he's been working for this moment his whole career. As someone who's been in the job market for over 20 years, Boardman could have easily gotten comfortable. But he said he's remained extremely career-oriented.

    That doesn't come without sacrifice. Boardman said he "literally works seven days a week," whether for his employer or on his own projects. That's taken time from his personal life. At one point, he said he rented an apartment in London, away from his wife and kids, to be closer to the office he was working at.

    "If the door doesn't open, build your own door," Boardman said.

    Read the original article on Business Insider
  • I sent my American kids to a day camp in France. It cost $10 a day, and they learned French.

    Kids playing in the pool in France
    The author sent her kids to a $ 10-a-day camp in Provence, France.

    • When my kids were young, I sent them to an inexpensive summer day camp in France.
    • They weren't happy about going, but it was better than boredom.
    • They ended up having fun, learning some French, and making friends.

    When my children were growing up, we lived between New York City and Italy. Switching schools and languages wasn't always easy, but they managed to bounce between two worlds.

    One summer, a friend who lived in a small village in Provence, France, was looking for a place to stay in New York City. We decided to do a house swap.

    I thought it would be a great opportunity for my 13-year-old son, Alec, and 11-year-old daughter, Madeleine, to learn French. I found a sleepaway camp at an international school not far from our temporary home, where the kids would study French each morning and do typical camp activities each afternoon. I chose the Monday-Friday option, so we'd spend weekends all together. With the kids in camp during the week, my husband and I would have adult-only time to sip rosé at wineries and bike to village markets. It sounded like the perfect balance.

    As soon as I told the kids about the French camp, my son started complaining, calling the French language stupid and saying that speaking English and Italian was enough for him. He got his sister involved in the moaning, too. I stayed strong, telling them what a privilege, not to mention expense, attending a camp like this was.

    Finally, after weeks of crying and complaining, I could no longer bear the thought of spending so much money on kids who were so upset and ungrateful. I told them, "I'm canceling camp. You guys will be with me all day in a tiny house in a tiny town in Provence".

    A local summer day camp sounded better than boredom

    Off to Provence, we went. The house was perched on a hill with an incredible view of the Luberon Valley. I would have been content to read on the shady terrace all day, but Alec and Madeleine's idea of summer fun couldn't have been more opposite. They were instantly bored and miserable. They knew no one, couldn't understand a word of French TV, and claimed there was nothing to do.

    As we walked to the boulangerie on our first full day, I saw a flyer for a day camp run by the town, costing only $10 per day. At least from a financial point of view, the stakes were low. I signed the kids up. This time, I didn't care how loudly they complained. And complain they did, but even they admitted that the daily program sounded fun, with a treetop climbing expedition one day and a beach excursion to Marseille another. They voiced concern about not being able to communicate with the other kids, but they grudgingly agreed that it sounded better than being bored.

    When I picked them up after the first day, I could see from their body language that they were pretty happy. Not wanting to give me too much satisfaction, they reluctantly admitted that camp had been OK. Most of the French kids spoke at least some English. The counselors smoked cigarettes, and the oldest teen campers were allowed to smoke, too. My kids thought this was very cool.

    They made friends and learned French

    I knew they were making friends because when we strolled around town in the evening or splashed at the town pool on weekends, my kids seemed to know everyone under the age of 15. A few weeks into camp, Alec asked if he could invite his camp friends over for a dance party. In a scene straight out of Footloose, he taught them his favorite NYC moves.

    After four weeks, our house swap ended. The kids had learned a few dozen French phrases and had a window into French culture that such an immersive experience offers.

    I recently asked my now young adult children about our time in France. They said the experience helped them overcome fears and feel comfortable in diverse settings. Thanks to social media, they've even stayed in touch with several of their summer camp friends.

    Though they weren't too pleased about attending camp at the time, their positive memories make me glad that we all persevered.

    Read the original article on Business Insider
  • Open criticism of Hamas is building in Gaza as Israel’s deadly offensive rages on: ‘May God curse them’

    Palestinians hold Eid al-Adha prayers by the ruins of the Al-Rahma mosque, destroyed by Israeli air strikes in Khan Younis in the southern Gaza Strip.
    Palestinians in Khan Younis, Gaza.

    • Gazans are becoming increasingly critical of Hamas as Israel's military campaign rages on.
    • Israel has launched air strikes and a ground offensive on Gaza following Hamas' October 7 attacks.
    • More than 38,000 Palestinians have been killed in the conflict, according to Gaza's health ministry.

    Gazans are growing increasingly critical of Hamas as Israel's deadly military campaign in the Gaza Strip continues.

    Public criticism of Hamas — which took full control of Gaza in 2007 after ousting its rival political party, Fatah — had been relatively rare before the Gaza war.

    Many Gazans also cheered the events of October 7 at the time, with people taking to the streets to celebrate what they saw as their occupier's humiliation.

    But while those attacks on Israel, which killed around 1,200 people, increased Hamas' popularity in both Gaza and the West Bank, the majority of residents in both territories do not support the group, according to findings from a poll carried out by the Palestinian Center for Policy and Survey Research.

    Israel responded to the October 7 attacks with a relentless barrage of air strikes and a ground invasion of Gaza.

    With the death toll from the attacks now standing at more than 38,000 Palestinians, according to Gaza's health ministry, and many Gazans living in dire conditions, public dissent appears to be growing.

    Yahya Sinwar
    Yahya Sinwar

    Daily affairs in the Gaza Strip are largely overseen by Yahya Sinwar, a former head of Hamas' military wing who has previously spent more than two decades incarcerated in Israel.

    In a March survey by the West Bank-based Institute for Social and Economic Progress that focused on Gazans' feelings on Hamas' leadership, almost 77% of respondents said they opposed Sinwar.

    "I pray every day for God to punish the one who brought us to this situation," Gaza resident Mohammed told the Financial Times in April. "I pray every day for the death of Sinwar."

    Gazan residents also told the BBC that cursing Hamas' leaders had become common in the markets.

    In one video seen by the BBC that was filmed outside a hospital filled with wounded Palestinians, a Gazan man covered in blood shouts: "I am an academic doctor. I had a good life, but we have a filthy [Hamas] leadership. They got used to our bloodshed, may God curse them! They are scum!"

    "I'm one of you," he added, "but you are a cowardly people. We could have avoided this attack!"

    "They should have predicted Israel's response and thought of what would happen to the 2.3mn Gazans who have nowhere safe to go," Gaza resident Nassim told the FT.

    "They [Hamas] should have restricted themselves to military targets," he added.

    Read the original article on Business Insider