LONDON — Electric Jukebox, the British music hardware startup that makes a television set-top box for music streaming, says it plans to go public in the first half of 2018.

The company makes a box that plugs into televisions which lets you use your television to navigate a music streaming service.

The device costs £199 and doesn't require a monthly subscription.

It has raised $14 million and claims it's going to IPO

Electric Jukebox said that it has raised $14 million (£10.8 million) in funding from investors including CEO Rob Lewis, 50 high net worth individuals, and previous investor YOLO Leisure & Technology.

YOLO Leisure & Technology is controlled by entrepreneur Nigel Wray, and a spokesperson for YOLO said the company owns 41% of Electric Jukebox.

Electric Jukebox said that it intends to IPO in the first half of 2018 and list on AIM in London.

One rumour that has been floated before on how Electric Jukebox could go public is through a reverse takeover, which would involve it buying a company that's already public. However, Electric Jukebox denied that it plans to go public through that method and instead said that "the company is now planning an independent IPO in the first half of 2018. It will be an independent IPO not a reverse, despite earlier press coverage to the contrary."

Electric Jukebox's journey to market was long and confusing

The product was first announced in a London press conference in October 2015 that featured singer Alesha Dixon and comedian Alexander Armstrong.

The initial launch date was Christmas 2015, but it was then delayed to Easter 2016. That release date fell through as well, and the product was finally released in November 2016.

A US launch was also announced during the Electric Jukebox launch event, but it's only just happening — nearly two years after it was announced. Other changes made by the company include renaming the product to "ROXI" and cutting the pink version of its hardware.

Celebrities and music industry figures have backed Electric Jukebox

The company has relied on high-profile backers to raise its profile. Former Take That singer Robbie Williams, Sheryl Crow, "Strictly Come Dancing" star Dixon, and Stephen Fry all posed for product photos with the device.

The launch event was introduced by Armstrong and then-culture secretary John Whittingdale.

Electric Jukebox said that its celebrity backers all have stakes in the business, along with other music industry and technology names including former U2 manager Paul McGuiness, former Bon Jovi manager David Munns, and TomTom founder Mark Gretton.

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• White House chief strategist Steve Bannon spoke to the progressive-leaning magazine The American Prospect about his plans for US-China trade policy.
• The call between Bannon and American Prospect writer Robert Kuttner covered a range of topics, including North Korea, Bannon's feuds within the Trump administration, and the fallout from a deadly Charlottesville protest.
• Bannon has faced renewed calls for his firing this week.

Steve Bannon shared some candid thoughts on a wide range of subjects with the progressive-leaning publication The American Prospect.

The story published on Wednesday reveals Bannon's thoughts on President Donald Trump's US-China trade policy, his own views about the president's rancorous feud last week with the leader of North Korea, the deadly Charlottesville rally, and his ongoing feuds inside the Trump administration.

The White House chief strategist also pitched what American Prospect writer Robert Kuttner described as a plan to "marginalize" his adversaries in the Trump administration.

Bannon talked of Trump's plans to sign a measure that would open an investigation into intellectual property violations against American companies by Chinese firms. The law under which that measure was drafted, Section 301 of the US Trade Act of 1974, would allow Trump to place a tariff on another country without Congressional approval.

The plans to reshape US-China trade policies do not end there, Bannon indicated. He talked of shifting people within the Trump administration to achieve expansive goals on that front.

"I'm changing out people at East Asian Defense; I'm getting hawks in," Bannon said. "I'm getting Susan Thornton [acting head of East Asian and Pacific Affairs] out at State."

Bannon continued: "That’s a fight I fight every day here,” he said. "We’re still fighting."

Kuttner openly questioned why Bannon, a former executive of the far-right news outlet Breitbart, called him — a reporter for a progressive-leaning publication — to sound off about some of his biggest plans for the White House's economic agenda.

Here's Kuttner:

"Bannon explained that his strategy is to battle the trade doves inside the administration while building an outside coalition of trade hawks that includes left as well as right. Hence the phone call to me."

Bannon said later that he was unaware the conversation was on-the-record.

Working amid calls for his firing

Bannon's comments came after days of scorching fallout from Trump's response to a deadly white nationalist rally in Charlottesville, Virginia. The president has been dragged by Republican and Democratic leaders, and abandoned by CEOs of some of the biggest American corporations after Trump wavered in his denunciations of some hate groups involved in the violence.

"Ethno-nationalism—it's losers. It's a fringe element," Bannon said of the groups that organized the Charlottesville rally on Saturday, adding that "the media plays it up too much."

"These guys are a collection of clowns," Bannon said.

Some critics have pointed to Bannon, who they accused of influencing Trump's reactions to the violence in Virginia. Although Bannon spoke with Trump several times last weekend, according to the news website Axios, he "has not meaningfully advised" Trump on his response to Charlottesville, the publication said.

Bannon's immediate future in the White House has also been called into question in the aftermath of Charlottesville, with several lawmakers urging Trump to fire him. Trump said during a fiery news conference on Tuesday: "We'll see about Mr. Bannon."

SEE ALSO: Steve Bannon says 'there's no military solution' to US stalemate with North Korea

DON'T MISS: 'We're at economic war with China': Steve Bannon lays out China trade plans in wide-ranging interview

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NOW WATCH: Venezuela was Latin America’s richest country and now it is in complete crisis — here’s how it fell apart

The INSIDER Summary:

• Winnie Harlow is a 23-year-old model from Canada. 
• Recently, she posed for a nearly nude selfie on Instagram to make a point about body positivity.
• "The real difference isn't my skin. It's the fact that I don't find my beauty in the opinions of others. I'm beautiful because I know it," she said.
• Harlow's message is now going viral, with over 481,000 users liking the post. 

Over the past few years, social media users have been pushing for a more inclusive definition of beauty.

One model with the skin condition vitiligo is going viral for embracing her individual beauty in a nearly nude photo she posted to Instagram. Vitiligo is characterized by white patches on the skin that develop when pigment-forming cells are destroyed, according to WebMD.

Winnie Harlow shared the August 16 selfie, which we first saw on People, to show off her patches and prove there's power in being unique.

Posing confidently with her head tilted back, the 23-year-old model captioned the post: "The real difference isn't my skin. It's the fact that I don't find my beauty in the opinions of others. I'm beautiful because I know it. Celebrate Your unique beauty today (& everyday)!"

Fans flooded Harlow's comments with praise.

"So incredible to see @winnieharlow! Your skin is so beautiful and so are you for sharing to the world with such positivity. Love it! Keep it coming," one Instagram user wrote.

Another person wrote: "How many applauds can I give this post. [sic] You are such an inspiration."

"Needed to hear this! Thank you," someone else commented.

This isn't the first time Harlow has used her platform to speak out. Her Instagram account is essentially a memo board for body positivity and self-love.

The former "America's Next Top Model" contestant has been vocal when speaking publicly as well. Several media outlets have quoted her saying that she's "proud" of her skin. She also wants others to feel just as confident as she does despite ever-changing beauty standards, according to her interview with Coveteur.

"My beauty philosophy is very general — beauty is in the eye of the beholder. I try not to focus on what someone else thinks is beautiful, Harlow said. "People will always say, 'What is your definition of beauty?' or 'What is beauty to you?' It doesn’t matter. What is beautiful to you? Let’s stick to that. You don’t have to search for someone else’s definition of beauty to know what is beautiful to you."

Despite pressure to look a certain way within the fashion industry, it's inspiring to see someone encouraging others to simply love the skin they're in.

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The future of digital is rapidly transforming right before our very eyes.

Digital is inheriting the earth, and the generational shift is in full force as millennials and Gen X grow older and smartphones, computers, and tablets become the go-to options for media consumption.

But the rise of digital won't just affect news. Advertising and television will also face major disruption in the coming years.

For the past seven years, IGNITION, Business Insider’s flagship conference, has collected the best minds in media and technology to share what they see as the future. Through unscripted interviews, cutting-edge demos, and insights from industry pioneers, attendees learn what key trends to be aware of and what they need to do to stay ahead.

Henry Blodget opened the latest sold-out IGNITION conference with a presentation entitled The Future of Digital: The Next Big Thing. And he should know...Blodget is co-founder, CEO, and editor-in-chief of Business Insider, one of the most-read business and tech news sites in the world with more than 80 million visitors a month worldwide.

The presentation was put together with the help of the team at BI Intelligence, Business Insider's premium research service.

In the presentation, Blodget details where the future of digital is likely headed.

Here are some of the key takeaways:

• Digital media consumption is growing. Everything else is shrinking.
• Digital advertising is growing. Everything else is flat.
• It's Google, Facebook, and then everyone else.
• Traditional TV has passed its peak, but TV won't die.
• The next big thing isn't smartwatches or glasses or even virtual reality.
• And much more.

To get your copy of this FREE slide deck, simply click here.

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NOW WATCH: A former HR exec who reviewed over 40,000 résumés says these 7 résumé mistakes annoy her

Parts of the US will get to see a total solar eclipse on August 21. 

While the entire country will get to witness at least a partial eclipse, the lucky people who live along a 70-mile-wide streak will be able to see totality – when the moon crosses between the Earth and the sun, completely blocking out the sun's light.

For those who plan to watch the total solar eclipse in person or via livestream, there are a few key stages to keep an eye out for as the moon makes its way across the sun. 

SEE ALSO: Here are the cities in the US where you'll get to see a total solar eclipse

DON'T MISS: Here's what the solar eclipse will look like from different cities around the US

The eclipse kicks off with what's called first contact, when the moon starts to pass across the sun.

The moon will continue to cover up the sun, forming what's known as a crescent sun that looks like this.

After about an hour or so, the moon will almost completely block out the sun. At that point, you'll start to see a bright light radiate out of the sliver of distance between the sun and the moon, known as the "diamond ring."

The INSIDER Summary:

• Actress Amanda Seales spoke with INSIDER about both her role on HBO's "Insecure" and her unapologetic presence on social media.
• Seales went viral online after a heated discourse with Caitlyn Jenner about white privilege and what it means to be a black woman in America.
• Seales suggests not reading hate comments, but is also notorious for quickly responding to trolls online.
• Though social media can sometimes be toxic, she's deciding to use her account to promote positivity, social awareness, and causes that help give back.

Whether she’s on camera as Tiffany on HBO's “Insecure" or taking down trolls on her Instagram page, actress and comedian Amanda Seales has never been one to mince words. And after her heated exchange with Caitlyn Jenner on Katy Perry’s live stream went viral, she’s getting a whole lot more people to listen up.

 Seales spoke with INSIDER on what it’s like being the queen of clap backs — especially in today’s social climate.

 “I think that there’s just — especially for black women — this feeling that you have to try and like create this generic availability. ‘Don’t be too sassy, don’t be too black.'"

This persona, Seales said, is often viewed as critical for black actresses to find work. But after over 20 years in the industry as an actress, musician, and TV/radio personality, the “Insecure” actress had enough.

 “At a certain point, I just let that go, and I was like, ‘I’m going to just be me,’ in my personal and professional life. You’re either going to rock with it or not, and that’s fine, because I’m not for everyone.” 

Seales’ role on "Insecure" represents every proud, successful black woman who’s been told to assimilate.

From a first look at Seales’ character Tiffany DuBois, she’s that friend that you can’t help but roll your eyes at. An esteemed sorority girl with the perfect life, enviable marriage, and an air of superiority, she won’t hesitate to offer her advice even when it isn’t asked for. But Seales said her “bad and boujee” character is a little more complex than that.

“Tiffany is the girl who was telling you, ‘You should really straighten your hair,’ you know? And she’s not telling you that because she thinks your curly hair is ugly,” Seales explained. “She’s telling you that because she’s been taught that she needs to straighten her hair to get ahead. And she wants you to get ahead too. It’s not coming from a negative place, it’s coming from poor teaching.”

Tiffany’s life may not be as pristine as she’s making it appear to be. In the second episode of season two, the picture-perfect character alludes that she was — or maybe still is— having some serious marital problems.

“No one has it all,” Seales said.

She was unfortunately pretty tight-lipped on Tiffany’s fate for this season, but we’ll definitely see more of her on the episodes (and new season) to come.

Seales schools Caitlyn Jenner on white privilege, and the exchange goes viral

Seales’ spot in the limelight got her a spot at Katy Perry’s dinner table during the pop star’s 4-day-long live stream this past June. The "Dinner of Discourse" featured notable attendees of different backgrounds. Seales, the only black woman at the table, had a heated conversation with former Olympian and transgender Republican Caitlyn Jenner. After Jenner characterized her as getting hostile, the actress explained the differences she experiences as a black women in America. The exchange quickly became one of the most viral moments of Perry’s live stream.

The live stream wasn’t the first time she’d had to defend being characterized as hostile.

“I’m not a sweetie pie. I have a deep voice, and when I call customer service I have to talk up here if I really want to get the service I want,” Seales joked. “I’m a very direct person and I’m not afraid to tell the truth. We live in a society right now that is just not for the truth. It’s become a thing where if you tell the truth you’re considered ‘not nice.’ I’ve kind of had to decide I’m just not going to be nice.”

Seales said the point of Perry’s dinner was to address serious, uncomfortable topics with compassion, understanding and respect.

“I was saying things, and in typical fashion, Caitlyn didn’t like what I said because it ruffled her feathers, and then she turned it into, ‘I’m being hostile,” Seales recounted. “Disagreeing with you doesn’t make me hostile. Saying factual things that are counter to your point of view doesn’t make me hostile… I’m the only black woman at the table, and we’re still getting this ‘angry black woman’ s---. I’m not here for it.”

The video of the exchange was re-shared and viewed hundreds of thousands of times. This reception and support motivated her to use her Instagram platform as an avenue for change.

“The response to the Caitlyn Jenner thing really, really showed me [that social media] can be a positive place,” Seales said.

Every Monday, the actress uses Instagram Story and the hashtag #MakeAChangeMonday to highlight people, projects, or events that are promoting positive change.

“I think it takes a certain level of optimism to thrive in social media, because you have to believe that there is altruism, and that not everybody is a troll.”

Why telling people to ignore cyberbullying is many times unrealistic

But social media is in no way a completely supportive space. Seales unapologetically takes on controversial topics in both comedic and straightforward demeanor, which results in a fare share of internet trolls.

“The best way to deal with that is don’t read the comments. Don’t read the comments!” Seales said, but she admits taking her own advice can be challenging. “I’m notorious for clapping back at people who are ridiculous on my Instagram.” 

Angry and offensive commenters can result in mixed emotions.

“Your twitter avi is a duck with an army hat on, so I don’t really need to talk to you. But then you’re human,” Seales said. “It’s funny when people say, ‘Don’t feed into the negativity.’ You didn’t have 32 people call you the N-word today… A lot of people don’t understand that when you speak to us, we see you.”

For Seales on and off camera, it’s all about using her voice to teach something in the most entertaining way possible.

“How can I make people think and laugh at the same time, but do it about stuff that matters?” Seales said.  But be prepared if you try to step to her incorrectly.

“If you’re coming into an argument with me, you better be armed, because I’m not coming with a pen to a gun fight.” 

In addition, the actress and comedian is working on taking her live comedy game show "Smart, Funny, and Black" to networks, and is hosing Harper's Bazaar's new web series, "Gem Droppin'." 

See more from the interview in the video below.

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Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.

A van plowed into dozens of people on a tourist-heavy street in Barcelona earlier today.

There's no suspect in custody at this time, and multiple fatalities have been reported. Here's what we know so far. Check back here through the day for more as we get it. 

Back in the US, the fallout from the deadly white-nationalist rally in Charlottesville, Virginia, last weekend continues. Here's the latest: 

• Here's how Trump's council of business titans fell apart
• "You can't change history, but you can learn from it": Trump says he's sad to see Confederate statues being removed
• Here are all the members who left Trump's now-disbanded manufacturing council after Charlottesville
• Here's the memo Larry Fink, the head of the world's largest investor, sent to staff about Trump's council
• DIMON: I "strongly disagree" with Trump's Charlottesville reaction and supported disbanding his business council
• Apple's Cook says he disagrees with Trump, vows donations to rights groups
• Mark Zuckerberg: Where does this hate come from?
• ANALYST: Most investors respect the Merck CEO’s decision to resign from Trump’s council
• "We're at economic war with China": Steve Bannon lays out China trade plans in wide-ranging interview
• False rumors that Gary Cohn is leaving the White House just spooked Wall Street — for a good reason

As Trump's two business councils were falling apart yesterday afternoon, the Federal Reserve published the minutes from July's policy meeting. Most Fed officials support a move towards unwinding the $4.5 trillion balance sheet at "an upcoming meeting." The Fed also fired off a stark warning highlight one of the biggest risks for stocks.

In finance news, banks are cutting back on lending to the riskiest borrowers. The US filed a $400 billion Libor claim on behalf of 39 banks rescued during the financial crisis. A senior exec in Citigroup's equities unit left. And Elizabeth Warren slammed Wells Fargo's board changes.

In hedge fund news, an ADP director has a relationship with the activist trying to shake it up — and it shows how messy Wall Street really is. And a secretive quant fund offered staff the rare opportunity to invest — and then delivered a bumper return.

In company news, Mylan finalized its $465 million EpiPen settlement with the US. Walmart beat on earnings as online sales surged. And Alibaba blew past estimates. 

In tech news, Snap executives have started selling their shares. The Uber engineer accused of downloading thousands of files once urged Travis Kalanick to give a "Greed is Good" speech. And Facebook shut down an anonymous group used by its Trump-supporting employees after people started harassing one another.

We compared Economy and Economy Plus on 6 different airlines — here's the difference.

Lastly, here are 100 trips everyone should take in their lifetime, according to the world's top travel experts.

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NOW WATCH: Apple is lagging the market as iPhone 8 woes mount

• It's normal for relationships to have some degree of conflict
• But psychological research has found behaviors that weaken a partnership over time
• Below, find nine of the most common — and what to do instead

Every romantic relationship goes through ups and downs. Even if you just had a massive fight about who stained the living-room couch with coffee (we know: It wasn't you), it's not the end of the world.

That said, certain behavior patterns can weaken a partnership over time, leaving one or both people wanting out.

Psychological literature is rife with examples of such behaviors. Below, we've rounded up nine of the most common.

Note: If you recognize one or more of these patterns in your relationship, that doesn't necessarily mean you're headed for Splitsville. Use this opportunity to take a step back, take a deep breath, and see what you can do to work it out.

SEE ALSO: A marriage therapist says there are 4 good reasons to leave a relationship — and a really bad one

Distancing yourself from your partner

A 2016 study, published in the journal Couple and Family Psychology: Research and Practice, found there's a deadly combination of characteristics that predict relationship dissatisfaction: sensitivity to rejection and the tendency to cut your partner off emotionally.

People who are really worried about getting hurt might distance themselves from their partners, which ends up making the relationship less satisfying in the long run. In other words, they effectively create what they fear.

If this sounds like you, try telling your partner about your fears. You might be surprised to learn that they share some of those concerns, and you can work through them together.

Closing yourself off to new experiences

A growing body of research suggests that couples who try new things together are happier in their relationship.

The inverse might be true, too: Writing in Psychology Today, clinical psychologist Lisa Firestone says when you stop being open to developing shared new interests, it can hurt the relationship and create resentment between partners.

So take up your partner's offer to try a new restaurant or go hiking instead of spending Saturday at the movies — at least once in a while.

Hiding your finances

Nearly two in five Americans in one poll for the National Endowment for Financial Education said they've lied to their partner about money (financial infidelity), which can lead to fights, distrust, and in some cases divorce.

The problem is that money isn't just about numbers — it can symbolize power and love. So insecurity about what your partner's doing with his or her money means insecurity about the relationship in general.

Before you decide to combine (or even partially combine) finances with your partner, it helps to have a conversation about budgeting and your financial histories, and to come up with guidelines for making big individual purchases.

Just a few short blocks from the New York Stock Exchange, another Wall Street institution sits at its centuries-long perch at the triangular intersection of William and Beaver streets.

Delmonico's is widely considered to be one of the very first sit down restaurants in America, born at a time when New York offered little more than taverns and oyster cellars. Culinary mainstays like eggs benedict and baked Alaska were invented in their kitchen.

While Delmonico's is (rightly) renowned for its steak offerings, Executive Chef Billy Oliva tipped us off to several decadent items that aren't on the printed menu. Skip the dining room and head straight to the bar to ask the bartender for these secret items like a $100 grilled cheese or a $50 cookie.

Delmonico's is celebrating its 180th anniversary in September in style, offering a 180-day dry aged steak for a whopping $380.

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• Republicans have pushed back against Trump's response to the violence in Charlottesville.
• Trump's influence on Capitol Hill was already shaky following a series of public spats with GOP lawmakers.
• Political analysts think the Charlottesville response may lead Republicans to push forward their agenda without Trump's input.

President Donald Trump's response to the violence in Charlottesville may be driving a wedge between him and Republican lawmakers, according to policy analysts, and his influence over their plans may be waning.

Trump's muddled response to violence from neo-Nazis and white supremacists in Charlottesville in the past few days took another turn on Tuesday when he blamed "both sides" for the violence and criticized people who did not think his initial response on Saturday was adequate.

This lead to a swift response from lawmakers, particularly in Trump's own party.

Republican senators, including Orrin Hatch, Lindsey Graham, Tim Scott, Marco Rubio, and Todd Young, offered critical statements on Trump's Tuesday press conference, and many GOP House representatives did the same.

Given this repudiation of Trump, Isaac Boltansky, a political analyst at Compass Point Research & Trading, said that Trump is more and more on an island in his own party.

"This time feels different because the president is becoming more isolated with seemingly every move," Boltansky told Business Insider on Wednesday.

This comes at a fraught moment for Trump's influence on Capitol Hill.

Trump's attempts to assist with the Republican healthcare bill were reportedly hamfisted, he has repeatedly attacked GOP lawmakers for what he sees as their inability to get anything done, and he went after Senate Majority Mitch McConnell through the press and Twitter last week.

On the non-Washington side, Trump's influence over elections seemed to take a hit on Tuesday as his endorsement of Sen. Luther Strange, who temporarily replaced Jeff Sessions in the Senate and is now a candidate in Alabama's GOP Senate primary, did not move the needle from his previous polling numbers. And in a House GOP primary in Utah, the winner explicitly expressed misgivings about Trump.

CNN noted that Fox News host Shep Smith couldn't find a single Republican to go on-air to defend Trump on Wednesday. MSNBC and CNN hosts also reported trouble booking guests.

Given this growing distance between the White House and the Hill along with the condemnation of the president's Charlottesville response, Trump's ability to fight for particular policies may be almost non-existent, said Greg Valliere, chief investment officer and long-time political analyst at Horizon Investments.

"Republicans are in agreement – they'll move on their own, ignoring Trump, on issues like the budget and taxes, and they have a chance to prevail," Valliere wrote in a note to clients on Wednesday. "There's growing unity among Republicans to forge ahead; if any legislation passes it will be in spite of Trump, not because of him."

Brian Gardner, a political analyst at KBW, said that the statements could be a monkey wrench in the future relationship between Congress and Trump.

"This does not mean that lawmakers will reflexively vote against the President on policy matters not related to this week's events and on which there is broad agreement (i.e. tax policy)," Gardner said in a note to clients. "However, this week's events and the President's response will complicate future collaboration."

In addition to Republican lawmakers, businesses have been strong proponents of policies like tax reform and are also pulling away from Trump.

Two of Trump's councils with business leaders disbanded on Wednesday, after a mass exodus made it untenable for the groups to continue.

The Wall Street Journal also reported Wednesday that despite Trump's openly pro-business attitude, the recent run of troubles coming from the White House may have alienated a growing number of business executives and some CEOs are reconsidering their involvement with the White House.

Given the lobbying power of these organizations, the inability to keep them cozy for help on Trump's agenda is not a positive sign.

In the end, Trump's alienation of members of his own party and the business leaders he openly courted in the early days of his presidency is likely to leave him with a harder time getting his priorities accomplished.

"Even for Republicans, working with the White House could be seen as politically dangerous," Gardner said. "The President's approval ratings are already poor and may dip further. Frankly, there will be little to be gained by working with the White House."

SEE ALSO: Trump tweets that he is scrapping his business councils after the massive exodus of executives

Join the conversation about this story »

NOW WATCH: Chris Christie ruined his relationship with Trump because the president is a germaphobe

The Super Soaker was a game changer when came to squirt guns and summer fun. And you have Lonnie Johnson to thank for it.

The man behind one of the most popular toys of all time is an engineer who has worked for Oak Ridge National Laboratory, the Air Force, and NASA's Jet Propulsion Laboratory.

Now he's working on a few other inventions that he hopes will change the world. Following is a transcript of the video.

The whole idea was to be able to shoot a very, very high pressure stream of water a very long distance.

"Oh Buffy..."

I'm Lonnie Johnson. I'm an inventor. The invention that most people know me for is the Super Soaker water gun.

My career started actually when I was in high school. I built a robot that won a regional science fair at the University of Alabama. I went on to work at Oak Ridge National Laboratory as a research engineer on high temperature nuclear reactors. Air Force Weapons Laboratory on advanced spacecraft that used nuclear power sources. Then to the Jet Propulsion Laboratory working on the Galileo spacecraft as a power systems engineer.

When I was at the Jet Propulsion Laboratory back in the early '80s is when I first got the idea. The Super Soaker was based on some engineering principles that I applied. I was actually working on another invention which was a heat pump that would use water as a working fluid instead of Freon.

And I shot the stream of water across the bathroom using some nozzles that I made, and I thought to myself, "Geez, if I were to develop a new type of water gun, that was a performance water gun,it could really do well.

"That's not pressure. This is pressure!"

Initially I wanted to manufacture the gun myself, but when I went to a plastics injection molding manufacturing company and talked to them about the parts that I needed, what I needed to have made it, it turned out it was going to cost about $200,000 to get the first thousand guns produced. And I thought to myself, I was an officer in the military the time, I didn't have $200,000 in cash laying around.

I decide to come to New York, present my ideas at Toy Fair, try to find a manufacturer that I could work with. And it was there that I met the people at Larami. 

They invited me to come to their headquarters in Philadelphia. It took 2 weeks to build the gun. And as soon as it was finished, I call the guy up at Laramie, because I didn't want him to forget my conversation. I got my suitcase and went in, and of course I had my prototypes in the suitcase.

I opened it up, and they ask to see what I had, and showed them the gun. They said, "Well, does it work? How well does it work?" So I pumped it up and shot it across the conference room, and the president of the company said, "Wow!" And that was it.

I knew I captured their imagination, and the rest is history.

"Soaking wet!"

I knew the gun worked well, and I knew it would be successful. I did not realize how successful it would be. It became the number one selling toy in the world.

Actually, the first year, it was called "Drencher." It was not called a Super Soaker. Someone claimed the name "Drencher" and wanted us to pay royalties on that, and so we changed the name. That's when we came up with the name of Super Soaker.

The guns were literally blowing off the shelves by word of mouth. We couldn't keep up with the demand.

People would say, "You know, Johnson, you're really lucky." And I thought, it's just a lot of hard work. It took 10 years from the idea to major success.

I started my own business, and built my company, my research company, with the proceeds from that invention. I don't really talk about how much money that I made from the invention. But I think it is fair to say that just about all of it is going into the research that I'm conducting. So it's going back into the company to develop some of the energy technology that I'm focused on.

I am a nuclear engineer. I'm working on advanced energy technology. I have a new type of the engine that converts heat into electricity, and I've also developed a new type of battery that's all ceramic, without liquid electrolyte. 

The other toy gun that was on the market and enjoying major success was these Nerf dart guns.

"It's Nerf, or nothing."

And I wanted to have that part of the market too. So I started developing Nerf dart guns, and I developed guns that outperformed the guns that Hasbro had on the market at the time. And eventually ended up doing a deal with Hasbro to license my dart guns.

And at that point, I literally was the king of all toy guns.

So now to have another success in the consumer space would really be cool . So that would mean, if I could pull that off, that would mean that lightning will it struck three times.

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• Trump blasted automakers like Ford during the presidential campaign.

• Ford and GM's CEO joined his advisory councils anyway and logged an early win as a result.

• But toxic politics are undermining any deals that would work for corporate America so they cut their losses.

A few months after Donald Trump was elected President, I made the rounds at the Detroit auto show in January and tried to get a sense of what the car business thought of the new Chief Executive.

After all, Trump had — during the campaign — very publicly taken Ford to task for plans to send auto production to Mexico. And as he took office, the idea of a "border adjustment tax" that would've hit manufacturers of all sorts was on the rise. 

But the US auto industry seemed pretty happy to have Trump in the White House, for two key reasons:

First, Detroit expected Trump's new Environmental Protection Agency to reopen a review of mileage and emissions benchmarks — Corporate Average Fuel Economy, or CAFE, standards— which had been locked in during the last days of the Obama administration. Taking the lead on this, in fact, was the Ford CEO Mark Fields, who pressed Trump to give the carmakers the opportunity to revisit the standards in light of strong SUV and pickup sales. (Fields has since left Ford.)  

Second, Detroit wanted a corporate tax cut. And Detroit wasn't alone. All of corporate America wanted a corporate tax cut. That was where the real glee over Trump was coming from. 

The auto industry got its deal fast. In March, the Trump administration announced it would re-open the review process for fuel-economy and emissions regulations. 

Trump might have expected some investment and hiring in states critical to his re-election to follow. That hasn't really come to pass, and for good reason: the carmakers don't want to add more bulk ahead of an impending sales downturn. 

So the deal score at this point could effectively be Detroit: 1, Trump: 0.

But, that also might've been a misread. And Detroit's experience with Trump is instructive in understanding why people were on this panel in the first place, why they stayed, and then why they left so fast.

No more deals

There was only one auto-industry executive left on Trump two panels of business leaders —  the Strategic & Policy Forum and Manufacturing Council — by the time the President took to a podium Tuesday and wound up offering a defense of the white supremacists who had marched in Charlottesville, Virginia over the weekend. 

That was Mary Barra, who runs General Motors. (Fields left the manufacturing council after losing his post as CEO of Ford, and Tesla founder Elon Musk resigned after Trump said he'd withdraw from the the Paris Climate Change Agreement.)

She wasn't alone, of course. Even after Merck's CEO Kenneth Frazier bolted early Monday — citing his personal responsibility to stand up to intolerance — leading to a small exodus, many other executives seemed prepared to stay on.

Perhaps, the groups held out hope that a big tax cut was still in the cards. Certainly, they might have seen how Trump angrily reacted to Frazier and decided it wasn't worth having to deal with that. One, unnamed CEO told the New York Times's Andrew Ross Sorkin as much. 

So what changed? Sure, Trump's infamous Tuesday press conference was a trigger. 

Ultimately, though, it seems to have dawned on the CEOs that the concessions they might get out of Trump weren't worth the vast reputational damage that even a peripheral association with the defense of white supremacists would bring.

And Detroit's small victory also made it clear that gains to be had aren't so great anyway. American consumers want to buy SUVs and pickups for sure — but they also want good fuel economy in those vehicles. 

So maybe the score is really Detroit: 0.5, Trump: 0. 

What happens when business can't take it anymore

I wouldn't say Trump had an inexhaustible level of support from CEOs who had been running vastly greater enterprises than the Trump Organization, but if the mood in Detroit was any indication, he was going to get a few passes for bad behavior. He just wasn't going to get any for appalling, self-destructive conduct.

What they certainly didn't want was to wind up with a score that looked more like — Detroit: -1, Trump: 0— just because she stuck around.

Contemporary business leaders tend to be careful, pragmatic, diplomatic people who exercise a lot of patience with Washington. They want to thrive no matter which party is in power.

Trump won in November in part because some voters saw him as a business-guy billionaire who flew around in his own plane and lived in a tower with his name on it in New York City. He wasn't a cerebral former con-law professor and therefore he would use his combative business skills to cut a whole bunch of beautiful deals and would further lower the already low unemployment rate and bring greater prosperity to the land.

There is no long game that involves neo-Nazis

Anybody who had seen Trump do his thing in New York for decades understood that this was a con job, but with a GOP-controlled Congress and a longstanding desire among companies to see the US corporate tax rate dropped, it wasn't hard to look past the theatrics and play the long game. 

I personally thought the tax corporate tax cut would happen almost immediately. In America, cutting taxes always wins and this one would be straightforward. You could even imagine Democrats getting behind it.

Naturally, as Trump's relationship with the business world has completely melted down over the past few days, I reflected on what he had achieved eight months ago, before his comments about the Charlottesville crisis.

He had the CEOs on board. They were wary, and they knew full well that they could come in for some routine Trumpian Twitter abuse, but they went to Washington and they sat around tables for photo ops. And they were even willing to give him some headlines about factory openings and job creation as long as he didn't do anything more repellent than the repellent things he had already done.

And then, he did.

SEE ALSO: A pattern is emerging with Trump's deals to save US manufacturing jobs

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NOW WATCH: 'What about the alt-left?': Trump melts down and blames both sides for Charlottesville

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Business Insider is excited to announce that Lachlan Murdoch will speak at IGNITION 2017: The Future of Media.

Lachlan, the son of media mogul Rupert Murdoch, serves as the executive chairman of 21st Century Fox, the executive cochairman of News Corp., and the executive chairman of Nova Entertainment Group.

Since taking over for their father two years ago, Lachlan and his brother, James, who serves as the CEO of 21st Century Fox, have made maintaining a positive company culture a priority. There may not be a better example of this than the firing of Fox News' superstar host Bill O'Reilly earlier this year after a multitude of sexual-harassment allegations became public.

We are thrilled to hear Lachlan's thoughts on the future of media given his extensive experience leading one of the most successful media empires on the planet. We can't wait to hear his thoughts on the effects of the struggling cable industry and the plateauing movie-theater industry on 21st Century Fox's business as well as on News Corp.'s continued push into the digital world.

Lachlan joins HBO CEO Richard Plepler and Verizon executive Marni Walden as speakers at this year's IGNITION conference. We will continue to announce new speakers throughout the summer, so continue to check in to see who else will be attending.

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NOW WATCH: Here's everyone left on Arya Stark's kill list on 'Game of Thrones'

Earlier in August a game between the St. Louis Cardinals and Kansas City Royals was briefly interrupted by a feisty kitten that ran onto the field.

After being gathered and taken off the field by an attendant, Yadier Molina stepped up to the plate and hit a grand slam, launching the Cardinals into a lead that would hold until the end of the game.

And thus, the legend of "Rally Cat" was born.

After the game, there was a bit of confusion regarding the cat's custody. According to a statement from the team, a woman claimed the cat was hers, moved to take the cat home, but then lost track of it in City Garden. Eventually, the cat was found by volunteers involved with nonprofit St. Louis Feral Cat Outreach, where it is still being cared for as of Thursday.

Now, according to a report from the St. Louis Post-Dispatch, the Cardinals hope to gain custody of the cat and make him a permanent part of the team. But the process might not be as simple as it seems.

St. Louis Feral Cat Outreach, who have now officially named him Rally Cat, say that they've received "thousands of inquiries from throughout the region," and that the most important thing is that the cat find a good and loving home. Meanwhile, the Cardinals say that they have already claimed Rally, with vice president of communications Ron Watermon saying St. Louis Feral Cat Outreach have "assured us they will be returning our cat to us after a mandatory 10-day quarantine period."

The use of "our" cat is a bit odd, as the Cardinals do not yet officially have custody and St. Louis Feral Cat Outreach would eventually be the ones to grant it. But that's not stopping the Cardinals from making a few plans for their potential future mascot, with a "Welcome Home" ceremony scheduled for Rally next week. The team is also working on a "Rally Cat Appreciation Day" in September that would help raise money for the center. If all goes according to plan, Rally will be a part of the Cardinals organization for years to come.

SEE ALSO: Ceremonial first pitch at Red Sox game goes horribly wrong when the ball hits unsuspecting photographer below the belt

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On Thursday, BMW unveiled the new Z4 Concept sports car at the 2017 Pebble Beach Concours d’Elegance in Monterey, California.

The stylish new concept is the automaker's interpretation of what the purebred sports car of the future should be.

"The BMW Concept Z4 is an all-out driving machine," BMW Group senior vice president of design Adrian van Hooydonk said in a statement.

"Stripping the car back to the bare essentials allows the driver to experience all the ingredients of motoring pleasure with supreme directness. This is total freedom on four wheels."

However, the reality is that the Z4 Concept is really a thinly veiled precursor to the upcoming production Z4 sports car that's expected to launch sometime in 2018.

And at first glance, the new Z4 certainly looks promising.

BMW's signature kidney grills and the shark nose front end have both been updated for Z4 duty. Much of the front fascia bears a strong resemblance to the Concept 8 the company debuted in May. That car will soon become the production 8 Series coupe.

The production Z4 is a joint project between BMW and Toyota. The platform will also underpin a Toyota sports car that's expected to be the long-awaited successor to the Supra.

According to Car and Driver, the Z4 will be powered by a 3.0 inline-six-cylinder engine with as much as 360 horsepower on tap. Fortunately for enthusiasts, it is expected to be available with a traditional manual transmission. Unfortunately, the Toyota is rumored to be only available with an automatic.

SEE ALSO: Aston Martin has a new luxury station wagon — and it looks awesome

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NOW WATCH: BMW just showed off the futuristic interior of its next-gen cars

Donald Trump said this week that he was "strongly considering" pardoning Joe Arpaio. The controversial former sheriff of Arizona's Maricopa County gained national attention for his aggressive stance on illegal immigration. A federal court convicted him last month for misdemeanor contempt of court for continuing to order his deputies to arrest suspected undocumented immigrants after a 2011 federal injunction that followed allegations of racial profiling.

Arpaio was an early endorser of Trump presidential campaign. The president has suggested that he will pardon Arpaio before an Oct. 5 sentencing date. Arpaio faces up to six months in federal prison.

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When Walmart acquired Bonobos and Modcloth, confusion reigned over how these trendy, upscale brands meshed with America's no-frills most affordable retailer. 

Now, it's increasingly clear that these investments were geared toward its Amazon competitor — Jet. 

You'll likely never see a Bonobos or Modcloth product in a Walmart store or on Walmart.com. Bonobos and Modcloth will, however soon be offered on Walmart-owned Jet, according to a conference call with journalists to discuss second quarter earnings.

"The Jet customer demographic  —millennial, urban, higher income — aligns well with the demographics of ModCloth and Bonobos," Walmart spokesperson Randy Hargrove told Business Insider.

This is a clear signal of how Walmart.com and Jet.com will diverge. While Walmart is a mass-market retailer that appeals to every demographic, Jet will be geared toward the urban millennial customer. 

The difference in strategies is starkly illustrated by viewing the homepages for the two e-commerce websites.

Jet promotes millennials favorites like La Croix seltzer, fresh produce, and ethical cleaning products, while Walmart highlights Tiki Torches, Ziploc bags, and Tums.

Both Walmart's ecommerce operation and Jet.com are headed by Jet's former CEO, Marc Lore.

Walmart currently has no plans to sell Bonobos or Modcloth on Walmart.com, but that could change in the future.

For now, urban millennials can rest easy that they can still purchase their favorite brands without it arriving in a box emblazoned in Walmart blue — instead, it may be Jet purple.

SEE ALSO: Amazon just unveiled a better alternative to vending machines

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This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

Credit card rewards have become so popular in the US that issuers capture headlines just by launching a new rewards card. And with consumers now caring more about the type of rewards being offered than any other card feature, competition to offer the most lucrative and attractive rewards has intensified dramatically. 

For consumers, the emphasis card issuers place on these cards has resulted in rewards becoming much more worthwhile and widespread, ranging from big sign-on bonuses to free travel. And with offers continuing to get better, consumers will continue seeking out the best rewards cards.

The value added from these cards is undeniable for issuers — in addition to increasing adoption of credit card products, the opportunity to earn rewards encourages cardholders to spend more money. This not only helps to drive up revenue, but also provides issuers an opportunity to mitigate any losses they may be feeling from the Durbin Amendment, which reduced how much fees issuers could charge on debt card transactions starting in 2011. 

But it’s also important to note that offering such high-valued rewards comes at a price — Chase’s Sapphire Reserve card ended up reducing the bank’s profits by $200 million to $300 million in Q4 2016, according to Bloomberg. And as costs continue to rise, issuers will have to adjust to this new landscape by leveraging technology and partnerships to keep consumers engaged without sacrificing profits.

In a new in-depth report from BI Intelligence, we walk through the new credit card rewards landscape, which now includes rising consumer demand for rewards, increased opportunity for issuers to drive up usage of their credit card products, and increasing costs. After discussing the evolution that has led to this current landscape, we analyze how issuers will have to adjust in order to continue reaping the benefits of offering rewards without sacrificing significant profits.

Here are some key takeaways from the report: 

• Consumers put tremendous value on credit card rewards, which makes these them a major user acquisition channel for card issuers — almost 60% of consumers rank rewards as a major reason for adopting a credit card
• By offering high-valued and attractive rewards, card issuers are able to drive up card adoption and usage — JPMorgan Chase reported a 35% increase in new card accounts in Q3 2016, after launching the Sapphire Reserve card.
• Offering high-valued credit card rewards does come at a high cost to card issuers — the costs associated with offering credit card rewards have more than doubled since 2010 for the six largest card issuers in the US
• However, major players in the space are already beginning to find ways to cut costs, including rolling back rewards on their most premium products and partnering with well-known brands to develop less expensive, more creative rewards offerings.  

In full, the report: 

• Identifies the costs associated with offering rewards for issuers and how they have increased over time.
• Details why credit card issuers continue offering high-valued rewards.
• Analyzes how the industry has evolved since 2011
• Explores how credit card issuers will advance in order to continue reaping the benefits of offering rewards without assuming increased costs. 

To get your copy of this invaluable guide, choose one of these options:

1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> Learn More Now
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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of credit card rewards.

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Laurel & Wolf CEO Leura Fine built a business around helping people design their dream home.

Launched in 2014, the digital decorating platform aims to make the interior design process easier for clients by moving almost everything online. After being paired with a designer, customers can purchase furniture and decor from hundreds of vendors on the Laurel & Wolf site.

Fine recently redesigned her own home using personal touches and furniture from vendors that work with her company. Below, get a look inside her Los Angeles home.   

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Fine redecorated her entire home in just under three months.

Purchasing items like sofas, rugs, and wallpaper online helped speed up the project's timeline.

"I believe that as a designer and, especially today in 2017, you have to be able to shop online for your clients. It's just not a good use of time to traipse around and look at things in person," Fine said in a press release about the project.

Morale seems to be low in the White House following President Donald Trump's decision to veer off-script at an informal press conference in New York on Tuesday.

After being criticized for his delayed condemnation of white supremacists who gathered in Charlottesville, Virginia this weekend, Trump on Tuesday defended the protesters, saying "not all of those people" were neo-Nazis.

Numerous reports have emerged depicting a despondent White House, as many top advisers said they have expressed frustration with Trump's continued meltdowns.

The New York Times reported that Trump's top advisers were "stunned, despondent and numb," and some were "unable to see how Mr. Trump's presidency would recover," and "expressed doubts about his capacity to do the job."

White House advisers Ivanka Trump and Jared Kushner, the president's daughter and son-in-law, both reportedly urged Trump to stop talking about the incident.

National Economic Council director Gary Cohn, who is Jewish, was also said to be offended by the president's reaction to the violence in Charlottesville, while new chief of staff John Kelly also was disappointed by the president's attempt to create equivalence between the neo-Nazis and counterprotesters.

Treasury Secretary Steve Mnuchin, who stood next to Trump during his Trump Tower press conference on Tuesday, reportedly told staffers at a meeting the next day that he doesn't share the president's stance on neo-Nazis, according to Bloomberg. The main issue discussed during the routine staff meeting was reportedly Trump's controversial comments.

A White House adviser told Politico that while the majority of staffers called on the president to offer an unequivocal denunciation of neo-Nazis, in some ways Trump would "rather have people calling him racist than say he backed down the minute he was wrong" and that the comments may "turn into the biggest mess of his presidency because he is stubborn and doesn't realize how bad this is getting."

Advisers worry that the remarks may damage any attempt for Trump to spearhead a legislative agenda as Congress returns this fall. Congress needs to raise the debt ceiling by September 29 to keep the US from defaulting on its debt, and Republicans are hoping to pass a budget and tax reform before the end of the year.

But while many White House employees have been disappointed by the president's remarks, Trump himself reportedly hasn't regretted his statements.

According to the Times, Trump said he felt "liberated by his news conference," citing his comments as a "retort to the political establishment that he sees as trying to tame his impulses."

SEE ALSO: The hosts of Fox News' newest major show have been slamming Trump all week

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