Quantcast
Channel: Business Insider
Viewing all 76301 articles
Browse latest View live

Trump is 'hostile' to international order warns Theresa May's former security chief

$
0
0

U.S. President Donald Trump and British Prime Minister Theresa May hold a press conference after their meeting at Chequers in Buckinghamshire, Britain July 13, 2018

  • Donald Trump's "hostile" attitude towards the liberal world order poses a "major problem" to the UK's national security, according to Theresa May's former national security chief Sir Mark Lyall Grant.
  • The US President has pulled the US from major treaties, blocked appointments of judges to the World Trade Organisation, and decertified the landmark Iran nuclear deal since coming to office.
  • "The traditional champion of the rules-based international order doesn't believe it in himself [...] that poses a major problem for the United Kingdom," said Lyall Grant.

LONDON — US President Donald Trump's "hostile" attitude towards the international world order has put international peace at risk, Theresa May's former national security chief has told Business Insider.

Sir Mark Lyall Grant, who was the UK national security adviser until last year's general election, said that Trump's actions had led to the "erosion" of the rules-based international order, a term used to describe the set of liberal western values and institutions like NATO and the UN which have promoted peace and stability since 1945.

"This liberal rules-based international order, which has kept the peace largely since the Second World War [...] and allowed huge prosperity, is now at risk as never before," Lyall Grant, currently a senior advisor at CTD Advisors, told Business Insider.

"At this particular time, the traditional champion of the rules-based international order — the President of the United States — doesn't actually believe in it himself," he said.

"He's not defending the order, and he's pretty hostile to the order at a time when it itself is under threat."

Lyall Grant said the UK is particularly at risk from a breakdown in the rules-based order because it has "invested heavily" in global institutions and because it is a small, open trading nation, with the UK a key member of crucial global institutions such as the UN Security Council, NATO, and the World Trade Organisation. 

'A new order'?

Xi Jinping Hong Kong-Zhuhai-Macau bridge

Since taking office in 2016, Trump has made sustained attacks on global institutions and governance a key part of his agenda. He has repeatedly attacked the concept of "globalism," pulled out of the Transpacific partnership, blocked the appointment of judges to the World Trade Organisation, and decertified the Iran nuclear deal.

Lyall Grant said that that the gradual "erosion" of that system predated Trump and had accelerated in recent years due to factors including the 2008 financial crisis, when "the automatic superiority of capitalism and western markets was thrown into doubt."

He also said that western interventions in Iraq and Syria had contributed to a global pushback against the rules-based order because it created a perception that the West had "exploited responsibility [...] to encroach on sovereignty and was overreaching by imposing our values on other countries."

Lyall Grant said that the vacuum left by Western leadership was dangerous because it risked the creation of a new global order led by China — one characterised by market authoritarianism and illiberal values.

"[Chinese] President Xi [...] has talked about a new order, based essentially on Chinese values."

"That would be a very different system from ours, in terms of where China comes from and what China stands for — and if that becomes the new governance order then that is a problem. It would a new system that is inimical to our values."

SEE ALSO: Theresa May fails to block court case that could allow the UK to reverse Brexit

Join the conversation about this story »

NOW WATCH: Megyn Kelly in 2017: 'I regret a lot' of the controversial stuff I've said on live television


Theresa May's Brexit deal is being declared dead before it has even been born

$
0
0

Theresa May

  • There is growing concern that Theresa May's Brexit deal will be voted down by MPs in December, even if it is approved by her Cabinet this week. 
  • At the centre of concerns remains proposals on how to keep open the border between Northern Ireland and the Republic of Ireland.
  • Parliamentary defeat would be disastrous for May. It would increase the chance of a no-deal Brexit and strike a catastrophic blow to her authority.

Theresa May's Brexit deal is being declared dead before it has even been born.

The British prime minister is set for a crunch meeting with her Cabinet early this week, where she will attempt to get her EU withdrawal agreement signed off by senior ministers.

But even if she does get approval from her top team, there is growing concern that the Brexit deal will be voted down when it is put before MPs in December, according to a number of reports this weekend.

Defeat in Parliament would be disastrous for May. It would significantly increase the chance of a no-deal Brexit and strike a catastrophic blow to her authority, likely provoking a leadership challenge.

At the centre of concerns remains proposals on how to keep open the border between Northern Ireland and the Republic of Ireland. There are fears that the so-called backstop agreement on the Irish border could make Britain a vassal state of the EU and increase the possibility of a border between Northern Ireland and the rest of the UK.

Transport Minister Jo Johnson resigned on Friday, voicing fears held by both Brexiteers and those who wish to remain in the EU. "To present the nation with a choice between two deeply unattractive outcomes, vassalage and chaos, is a failure of British statecraft on a scale unseen since the Suez crisis," he said.

ITV Political Editor Robert Peston wrote on Saturday that May's Brexit deal "looks dead even before it's born." He said that without the support of Labour, May will lose a meaningful vote in Parliament.

"The destination is constitutional crisis, where legislature will be in irreconcilable conflict with executive, Commons at odds with PM and her cabinet,"Peston said in a post on Facebook.

Read more: Theresa May's government told leading medics UK can't rule out medicine shortages in a no-deal Brexit

This was supported by a report in The Sunday Telegraph, which said May's agreement will be blocked by MPs even if she secures Cabinet approval. "She could force it through [Cabinet] with a majority, but she wouldn't get it through the Commons," one minister told the newspaper.

Former Brexit minister Steve Baker and the DUP's Brexit spokesman Sammy Wilson, took the unusual step of joining forces to pen an open letter to May in The Sunday Telegraph. They said they would vote against her deal unless an alternative solution is found.

"We share the Prime Minister’s ambition for an EU free trade agreement, but not at any price, and certainly not at the price of our union," they said. "If the government makes the historic mistake of prioritising placating the EU over establishing an independent and whole UK, then, regrettably, we must vote against the deal."

Peston, The Sunday Telegraph, and The Sunday Times all reported that there are likely to be more ministerial resignations. The Sunday Times said four Remain-leaning ministers were on the brink of quitting, while the Telegraph said politicians would fall like "paper tigers."

SEE ALSO: Jo Johnson resigns from Theresa May's government and backs a second Brexit referendum

Join the conversation about this story »

NOW WATCH: Megyn Kelly in 2017: 'I regret a lot' of the controversial stuff I've said on live television

The world's biggest stock bear unloads on the 'stupidity' of Wall Street — and explains why the October meltdown was just a 'drop in the bucket' before the next big crash

$
0
0

trader red screen

  • John Hussman — the outspoken investor and former professor who has been predicting a stock crash — says the October sell-off was just a warmup for the eventual crash that he says will rock the market.
  • Hussman is closely watching market internals for signs of shifting investor sentiment.
  • He blames the Federal Reserve for creating bubble-like conditions in the market, and laments the fact that Wall Street has so willingly participated in the creation of an unsustainable situation.

If you thought the stock market correction in October was bad, you ain't seen nothing yet.

So says John Hussman, the former economics professor and current president of the Hussman Investment Trust.

He actually argues the market has been headed for an imminent reckoning since early February, another period that featured a sharp stock drawdown. It was at that point that Hussman says so-called market internals started to deteriorate, leaving equities particularly vulnerable.

Hussman has become a big fan of the predictive power of market internals, which he says provide valuable signals on investor sentiment. They've taken on new significance to him since, as he describes it, valuations have been rendered largely useless — at least in the short term.

"Speculative psychology has always allowed valuations to run well beyond historical norms over portions of the market cycle," Hussman wrote in a recent blog post. "Valuations only 'work' over the long-term and the full cycle."

He continued: "Investor psychology — whether speculative or risk-averse — drives market outcomes over shorter segments of the market cycle. We read that psychology from the behavior of market internals."

And, as the chart below shows, those internals have faltered since February. The blue line represents the cumulative total S&P 500 return in periods of uniform market internals. As you'll note, the line has flattened recently — just as it did in the periods preceding the 2000 and 2007 stock market collapses.

Screen Shot 2018 11 09 at 10.53.58 AM

This chart behavior is one of many factors that have Hussman forecasting an eventual drop of more than 65% for US stocks. 

"Despite its discomfort, the market decline we observed in October is only a drop in the bucket toward normalizing valuations," said Hussman. "Over the completion of the current market cycle, I fully expect the S&P 500 to lose close to two-thirds of its value from the recent peak."

A self-aware approach to market forecasts

As always, the obvious elephant in the room must be addressed when discussing Hussman's outlooks: He's been calling for the equity market to lose two-thirds of its value for months — including well before the February correction. But it hasn't happened yet.

Hussman thinks he knows why. He says the Federal Reserve's decision to lower interest rates to zero completely dismantled the role of valuations in signaling perilous market conditions. With monetary conditions so loose, companies and investors alike blew past warning signs that would've stopped them before.

"Unfortunately, the moment interest rates hit zero, those limits vanished, and preemptively responding to speculative extremes became terrifically detrimental," said Hussman. "We can no longer rely on well-defined limits to speculation, as we could in previous market cycles across history.

He added: "In hindsight, the fix was simple: abandon the belief in any limit to the stupidity of Wall Street."

It took him a while, but Hussman says he's done this now. He's instead fully focused on the aforementioned market internals and the extent to which they highlight shifts in sentiment.

Hussman even admits that — in the event of a recovery in market internals — he's willing to adopt a neutral stance on the market in the near term.

Even though he's arguably the biggest long-term bear around, everyone has their limits.

Hussman's track record

For the uninitiated, Hussman has repeatedly made headlines by predicting a stock-market decline exceeding 60% and forecasting a full decade of negative equity returns. And as the stock market has continued to grind mostly higher, he's persisted with his calls, undeterred.

But before you dismiss Hussman as a wonky perma-bear, consider his track record, which he breaks down in his latest blog post. Here are the arguments he lays out:

  • Predicted in March 2000 that tech stocks would plunge 83%, then the tech-heavy Nasdaq 100 index lost an "improbably precise" 83% during a period from 2000 to 2002
  • Predicted in 2000 that the S&P 500 would likely see negative total returns over the following decade, which it did
  • Predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse between 2007 and 2009

In the end, the more evidence Hussman unearths around the stock market's unsustainable conditions, the more worried investors should get. Sure, there may still be returns to be realized in this current market cycle, but at what point does the mounting risk of a crash become too unbearable?

That's a question investors will have to answer themselves. And one that Hussman will clearly keep exploring in the interim.

SEE ALSO: Bank of America's $2.8 trillion wealth management CIO breaks down how the 9-year bull market will end — and how you can see it coming

Join the conversation about this story »

NOW WATCH: This company spent 10 years developing a product that allows humans to scale walls like a gecko

5 ice cream treats that Londoners love — from watermelon soft serve to ice cream nachos

A topless protester got dangerously close to Donald Trump's motorcade in Paris

$
0
0

Trump_protester3

  • A topless protester got within metres of US President Donald Trump's car on Sunday.
  • Trump is in Paris to mark 100 years since the armistice that ended World War I.
  • The protester stormed his motorcade on the Champs Elysees before being detained by police.
  • Radical women's rights group Femen claimed credit for the incident.

A topless protester, likely part of the radical women's rights group Femen, got dangerously close to Donald Trump's car as she demonstrated against the US president's visit to Paris.

Trump is in France to mark 100 years since the armistice that ended World War I. His motorcade was driving towards the Arc de Triomphe on the Champs Elysees when the protester stormed his vehicle.

Read more: The latest version of the president's one-of-a-kind limo has arrived

Videos and photos of the incident showed she got within metres of the president's car. It is likely to spark questions about security at the event, which is being attended by 70 world leaders, including Russian President Vladimir Putin.

Femen, the women's rights group founded in Ukraine, claimed credit for the incident. She had "fake peacemaker" written across the front of her body, which mirrored that of other female protesters on Saturday, who were arrested for demonstrating in front of the Arc de Triomphe.

"They’ve come to celebrate peace but they’re promoting war," Femen leader Inna Shevchenko said of world leaders, in a tweet translated by Bloomberg.

French broadcaster TF1 captured the incident on video. The below still from TF1's coverage showed just how close the protester got to Trump's car.

Trump protester

She was later tackled and detained by French police.

Trump protester2.JPG

Even if the protester had reached Trump's car, it is famously well equipped to deal with an attack. Nicknamed "The Beast," the presidential limousine is heavily armoured and custom built for the president's needs by General Motors.

SEE ALSO: Trump gave Kim Jong Un a look inside 'The Beast,' the president's $1.5 million armored limousine

Join the conversation about this story »

NOW WATCH: Trump once won a lawsuit against the NFL — but the result was an embarrassment

AI could soon be all around us — here's how that could upend 8 different industries

$
0
0

Waymo Italy Small

Some major industries could soon be shaken up by a new development in artificial intelligence— the technology's increasing portability.

Chip manufacturers are making processors specifically for machine learning and related AI features, noted Deloitte analysts David Schatsky, Jonathan Camhi, and Aniket Dongre in a new report. In many cases, those chips are being designed to consume minimal power, making it possible for them to be used in small, portable devices. Meanwhile, AI software developers are designing new algorithms that can be run directly on such chips without ever needing to connect to computers in the cloud.

The result is that we are about to enter an era that the analysts dubbed "pervasive intelligence," filled with devices and sensors that have AI technologies embedded within them. That coming era could offer big business opportunities for some companies while also significantly threatening the business models of others.

"Smart machines may well help expand existing markets, threaten incumbents, and shift how profits are divided," the Deloitte analysts said in the report. "The impacts could ultimately be significant," they continued.

Read more:Amazon's cloud CEO just pooh-poohed employee concerns about selling its facial-recognition software to ICE and law enforcement

We're already starting to see the first developments in this era. Apple's latest iPhones include an AI chip it calls its Neural Engine that is designed to perform machine-learning tasks such as image recognition on the device. And earlier this year, researchers at MIT announced they'd designed an AI chip that's three to seven times faster than its predecessors while using 95% less power.

Similar chips could soon be placed in a wide range of devices and other products, from robots to internet of things gadgets, wind turbines to medical devices, the Deloitte analysts said. Processing AI tasks on such devices rather than in the cloud can allow them to respond more quickly to changing circumstances or dangerous situations. It also allows them to continue to function even when they can't connect to the internet. And it can help preserve privacy by limiting access to private data.

Here are some of the industries that could be affected by such pervasive intelligence:

SEE ALSO: Many companies are stumbling as they rush to adopt artificial intelligence — here's what's tripping them up

Manufacturing.

Robots are already commonplace in many manufacturing plants. AI chips could help make those robots more efficient at their jobs, safer at working near humans, quicker to respond to disruptions, and better able to work with other robots, the Deloitte analysts wrote.

But manufacturers could also benefit from more pedestrian devices that have been upgraded with AI chips, they said. For example, valves that could detect and automatically respond instantly to leaks could save time and money and prevent hazardous situations.



Health care.

Medical devices are already big business in the healthcare industry. AI could make them even more valuable, potentially reducing overall spending and shifting what's being spent to other players.

Device makers have already created implants for epilepsy patients that have reduced the frequency of their seizures using AI, the Deloitte analysts noted. Similar devices could be on the horizon that could be used to detect or prevent other health complications.

Should they prove successful, such devices could reduce the number of emergency room visits, which could dramatically lower health care costs, the analysts said. That would be good for insurers, companies and patients, not to mention the device makers. But healthcare providers could take a big revenue hit.



Construction.

Drones, robots, and connected cameras with built-in AI could dramatically improve productivity and efficiency in construction, the Deloitte analysts wrote. Such devices could reduce the waste of materials, which costs companies some $160 billion, they said.

One example they cited was provided by Doxel, which offers robots that monitor progress at construction sites using AI. In one case, a project using Doxel's system saw a 38% increase in productivity and came in 11% under its budget.

But the Deloitte analysts noted that efficiency could come at a cost, particularly to materials providers, who could see reduced demand for their products.



See the rest of the story at Business Insider

It's all going dark again in the gambling capital of the world

$
0
0

Macau

  • Wynn Resorts this week forecasted doom for revenues in the gambling capital of the world, Macau.
  • Some on Wall Street say the casino giant is being overly conservative, but economic indicators on mainland China tell a different story.

We know that China's economy is slowing dramatically, and one of the places where you can see that very clearly is Macau, the gambling capital of the world.

Wall Street was reminded of that on Wednesday, when Wynn Resorts reported earnings. While the third quarter didn't look that bad — Macau revenue was up over $200 million from the same time a year before — the casino giant had a dark outlook for the fourth quarter. Wynn projected earnings 20% below what Wall Street expected.

According to analyst Cameron McKnight at Credit Suisse, this implies that the Macau gambling market could be negative over the last two months of 2018.

"Wynn noted that Golden Week was very strong in October, but business dropped sharply after that and has remained volatile since then," McKnight wrote in a note to clients. "Further, the company noted that it does not believe it is losing share – this means their guidance is either extremely conservative or the market has turned negative in November and December."

Wynn's stock fell 12% on Thursday following the report.

Wynn makes the lion's share of its revenue from its two casinos in Macau, so of the American casino operators on the glittering Cotai Strip, Wynn is most susceptible to market volatility. 

But of course this would be bad for the entire industry. A slowdown of the kind Wynn is projecting is a flashback to a dark time for the casino world, when a slowing Chinese economy and new government regulation sent casino revenues crashing as much as 50% in 2014 and 2015.

Strip

Now there are some on Wall Street, like Carlo Santarelli at Deutsche Bank, who think that Wynn made an "overly conservative guide."

And the gentleman is entitled to his opinion.

But macro data is on Wynn's side. As McKnight notes, gaming revenue tends to lag credit cycles on the mainland by 15 months, and as we know, about a year ago the Chinese government started to slow the flow of credit through its economy.

china credit macau gambling revenue

And then there's the housing market. McKnight posits that Macau gambling revenue lags Chinese housing prices by 8 months.

china housing prices macau gambling revenue

All sorts of signals in China's housing market are flashing red right now. Earlier this week S&P warned that weaker Chinese property developers were in danger of default. Housing salesfell 3.6% in September, and new research indicates that 22% of all homes in China are unoccupied.

So far, as Societe Generale economist Wei Yao pointed out in a note to clients, China's real estate investment — which makes up half of all investment in the country — has stayed pretty stable. But she does not see that lasting very long.

From a recent note to clients (emphasis ours):

"Real estate investment and construction growth remained surprisingly resilient in light of further weakening in housing sales. Investment growth strengthened from 13.8% in 2Q to 14.5% in 3Q, despite the slight moderation to 8.9% in September from 9.3% in August.

Growth in new floor space started surged to 27.8% in 3Q - the quickest since 2014 - from 16.6% in 2Q, thanks only partly to positive base effects.

In contrast, housing sales contracted by 3.6% in September, bringing down the quarterly growth rate to 2% from 3.1%. We still believe that demand determines supply, not the other way around, and that, as a result, the strong trend in housing supply is unsustainable."

The world will get fresh credit data from China next week, and perhaps it will show that policymakers have decided to loosen conditions in the face of a downturn and a potential trade war with the United States.

Even so — since Chinese credit is leading Macau gaming revenue as an indicator — that means Macau will have to continue to work through some pain for the next few months.

The question is going to be not whether the pain is coming, but how long it's going to last.

SEE ALSO: The most important idea holding China's economy together is being tested like never before

Join the conversation about this story »

NOW WATCH: The economist that predicted the housing crisis warns the Fed is engaging in behavior that's almost always caused a recession

These are the 10 highest-paying jobs in tech, according to Glassdoor

$
0
0

Microsoft

You don't need to be technical to land a job at one of the top tech companies. But for those who develop their technical skills, the rewards can be vast. 

In Glassdoor's latest report, the company broke down the highest-paying tech jobs in the industry, based on average salary. It could give you a good sense of what to focus on, if you're interested in pursuing a job in Silicon Valley and beyond. 

Here are the top 10: 

10. Information security engineer: $131,300

An information security engineer works to protect the company's data and other assets from hackers and other malicious parties. That could be through strengthening encryption or generally working to close any security gaps in the company's infrastructure. 



9. DevOps engineer: $137,400

A DevOps (development and operations) engineer  is a specialized role that involves delivering a lot of code, quickly.



8. Enterprise architect: $144,400

An enterprise architect develops the plans and workflows for deploying and maintaining servers, software, and other IT assets. In other words, an enterprise architect is on the hook to come up with (or at least, contribute to) the IT strategy. 



See the rest of the story at Business Insider

Jeff Bezos says his advice to Amazon interns and execs is to stop aiming for work-life 'balance' — here's what you should strive for instead

$
0
0

Jeff Bezos

  • Amazon CEO Jeff Bezos says he believes the term "work-life balance" is a "debilitating phrase."
  • Bezos revealed that one of the top pieces of advice he offers new Amazon employees is that they shouldn't view the two as a strict trade-off.
  • Instead, Bezos thinks of his personal and professional pursuits as a "circle" rather than a balancing act.


Amazon CEO Jeff Bezos isn't a fan of the phrase "work-life balance."

At an April awards event hosted by Axel Springer and Business Insider US editor in chief Alyson Shontell, Bezos revealed the counterintuitive advice he offers new Amazon employees.

Bezos believes that his new hires should stop attempting to achieve "balance" within their professional and personal lives, since that implies a strict trade-off between the two. Instead, Bezos envisions a more holistic relationship between work and life outside the office.

Historically, the world's richest man has a nontraditional approach to work: He makes time for breakfast every morning with his family, doesn't set his alarm before going to bed, schedules surprisingly few meetings, and still sets aside a few minutes every day to wash his own dishes.

This counterintuitive approach to maintaining a healthy symmetry within his professional and personal pursuits is one of the chief pieces of advice Bezos offers his staff.

"This work-life harmony thing is what I try to teach young employees and actually senior executives at Amazon too. But especially the people coming in," he said. "I get asked about work-life balance all the time. And my view is, that's a debilitating phrase because it implies there's a strict trade-off."

Instead of viewing work and life as a balancing act, Bezos said that it's more productive to view them as two integrated parts.

"It actually is a circle. It's not a balance," Bezos said.

Bezos said that the relationship between his work life and personal life is reciprocal, and that he doesn't compartmentalize them into two competing time constraints.

"If I am happy at home, I come into the office with tremendous energy," said Bezos. "And if I am happy at work, I come home with tremendous energy. You never want to be that guy — and we all have a coworker who's that person — who, as soon as they come into a meeting, they drain all the energy out of the room ... You want to come into the office and give everyone a kick in their step."

You can read — and watch — the full interview with Bezos right here.

Join the conversation about this story »

NOW WATCH: First impressions of the Google Pixel 3 and Pixel 3 XL

Here's how the new Gmail compares to the old version — and how to make the switch today (GOOGL)

$
0
0

gmail icon

If you were dying for a change in your email status-quo, Google recently rolled out some updates to the desktop version of its popular email client, Gmail. 

With the new Gmail design, you'll find some user interface upgrades, some visual changes, and a few other additions — those who used the old Gmail will still find the new version recognizable, and it's not a game-changing update where you'll have to relearn everything.

But there's some new features thanks to some additional integrations with other Google apps like Calendar, Keep, and Tasks, as well as third-party plugins. 

To switch to the new Gmail version, click on the gear in the upper right-hand corner of the Gmail page, and click 'Try the new Gmail.' You can use the same process to switch back to the old version of Gmail as well. 

Here's how the new and old versions of Gmail compare to each other: 

Here's what the old Gmail inbox looked like.



And here's what the new inbox looks like.

The new inbox has three 'views' — default, comfortable, and compact.

Upon first glance, the new inbox doesn't look much different from the old one. However, there are a few additions that are meant to improve your experience within the app. On the right side of the screen, there's now an area for plugins. By default, Google has included Calendar, Keep (a note-taking app), and Tasks. These have been included so you don't have to keep tabbing out of your email to check things like upcoming meetings on your calendar, or to look at any important information in your notes or tasks. 

 

 



Here's a preview of what the 'default' view would look like.

This view will show the names and file types of any attachments in the email below the subject line. 



See the rest of the story at Business Insider

These are the 35 US tech startups that have reached unicorn status in 2018

$
0
0

GettyImages 972799818

When Instagram sold to Facebook for $1 billion in 2013, it felt like a massive sum of money. 

Five years later, we seem to be numb to the billion-dollar acquisitions and valuations around us. WhatsApp was acquired for $19 billion. Uber is valued at $72 billion

Yet, to build a billion-dollar company from scratch is still an incredibly difficult feat. Last year, CB Insights reported that the odds of becoming a unicorn — a company valued at $1 billion or more — was less than 1% for companies that had raised venture capital. 

So far in 2018, there have been 35 tech companies in the US to reach this unicorn status, according to data provided by PitchBook

Others were included in PitchBook's list, like the makeup company Pat McGrath Labs, the fancy healthcare provider One Medical, and the publicly traded weed dispensary company MedMen. There were also international companies. For our list, we selected US companies with technology at the core of their business.

Here are the 35 US tech companies that have reached unicorn status in 2018: 

SEE ALSO: America's highways and roads are crumbling — here are the 10 states that have it the worst

35. ThoughtSpot

What it does: Search and AI-based analytics

What it's worth now: $1 billion

Year founded: 2012



34. WalkMe

What it does: Guides users to navigate websites and apps more efficiently

What it's worth now: $1 billion

Year founded: 2011



33. Tresata

What it does: Analytics software company

What it's worth now: $1 billion

Year founded: 2011



See the rest of the story at Business Insider

I explored the inside of a human nose and it convinced me that the real business in VR isn't gaming, it's all about training workers

$
0
0

SC08editnoWatermark

  • On Thursday, virtual reality company HTC VIVE announced its new headset called the Vive Focus, which is aimed at enterprises.
  • Although VR has previously mostly been used for gaming, it is quickly growing for enterprise use.
  • It can be used for business collaboration, training and education, such as teaching medical students about sleep apnea, showing car designers how to fix and prototype a car, and conducting remote meetings in a 3D virtual space.

As I put on a bulky white headset and adjusted it to fit my head, I found myself in a hospital room. One doctor leaned over a sleeping patient who had an air pumping device on his nose, while another was preparing tools. I felt like I was on an episode of "Grey's Anatomy."

Suddenly, a floating robot head appeared, explaining that we would be learning how to identify and treat sleep apnea. It guided me towards the patient's nose, and before I knew it, I had jumped inside his nostril!

domair_sfh_pic5

This was a simulation from SimforHealth, a French company that creates virtual reality simulations for medical students and pharmaceutical corporations. This simulation is supposed to teach medical students about sleep apnea, guiding students inside a virtual nose to show what happens to patients when they sleep. On this simulation, the inside of a nose looked like a pulsing red cave, with long, thin spikes coming out of the walls -- nose hairs, I assume.

Although virtual reality is typically associated with consumers, such as for video gaming, the technology is increasingly being adopted for use in professional settings. VR and augmented reality are projected to grow to $162 billion by 2020, and more products are targeting enterprise use.

Screen Shot 2018 11 08 at 4.56.31 PM

On Thursday, the VR company HTC VIVE announced its Vive Focus, an all-in-one headset that includes storage, built-in speakers and more. It's targeted at businesses and can used for education and training simulation, including at NASA and hospitals.

What makes this hardware significant is that it's much simpler and more portable for customers to use, says Dan O'Brien, General Manager of the Americas at HTC VIVE. Other VR headsets that only developers may use might involve expensive hardware and require users to stay in one place.

Vive_Focus_00011

The possibilities for this are endless, O'Brien says. This could be used for surgical and medical training, like when medical students might work together to perform a virtual surgery. This could even be used for automotive design, where employees can prototype and design cars in VR, or even learn to fix cars. Innoactive, a German VR enterprise software company, had partnered with Volkswagen to create a training scenario for workers to learn to put together a car in a factory.

"Executives are understanding they can save time and money," O'Brien said. "Their designers don't all have to fly to Germany to meet in one room and talk about design. They can go to VR design room and talk collaboratively there."

VR can also be used to collaborate on code. Primitive, which creates software development visualizations, created an app to review code. When I tried out this simulation, I was transported to a dark space with floating lines of code connected by a laser web -- a scene almost straight out of "The Matrix."

Screen Shot 2018 11 08 at 5.01.29 PM

It showed me how different files of code were linked, and with my laser pointer, I could pull up an entire floating page of code in front of my eyes. With this application, developers can work together to review code, circle the parts they want to highlight and dig through open source projects.

"It was quite fascinating because I was not a software coder myself," O'Brien said. "It's also about efficiency. When I sat in and watched 5 developers get in the space together, they were having intense conversations about the code."

Read more: How to pick out the best VR headset for you, even if you've never experienced virtual reality before

In addition, VIVE had also launched its own workforce collaboration tool built specifically for enterprise called the VIVE Sync. This can be used to help employees collaborate with each other in a virtual space, especially when they work remotely. Each employee's avatar can share ideas, show presentations, import images, show videos and more all in a 3D virtual space.

In the coming months, Vive plans to launch developer kits to add to the headset so developers can create their own applications for VR. Although the buzz around VR has died down, O'Brien believes there will be tremendous growth for VR in the enterprise space.

"We see it growing at a really rapid rate,” O’Brien said. "We have seen consumer VR grow at a healthy rate. Now enterprise is growing faster than consumer."

SC04noWatermark

SEE ALSO: VMware bought the startup founded by the ex-Googlers who created one of the hottest technologies in Silicon Valley

Join the conversation about this story »

NOW WATCH: This company spent 10 years developing a product that allows humans to scale walls like a gecko

Putin saved his warmest greeting for Trump as he met world leaders in Paris

$
0
0

Trump Putin1.JPG

  • US President Donald Trump and Russian President Vladimir Putin have met for the first time since the Helsinki summit in July.
  • The pair are in Paris, France, to mark 100 years since the armistice that ended World War I.
  • Putin exchanged brief handshakes with other world leaders, but he and Trump engaged in mutual arm and back patting.
  • During the event, French President Emmanuel Macron issued a strong rebuke of nationalism.

US President Donald Trump and his Russian counterpart Vladimir Putin have met for the first time since the Helsinki summit in July.

The pair are in Paris, France, to mark 100 years since the armistice that ended World War I. They observed a commemoration ceremony alongside other world leaders at the Arc de Triomphe.

Read more: A topless protester got dangerously close to Donald Trump's motorcade in Paris

Putin arrived later than Trump, French President Emmanuel Macron, and German Chancellor Angela Merkel, greeting all three leaders consecutively.

While Putin's handshakes with Macron and Merkel were brief, he and Trump engaged in mutual arm and back patting. He also flashed Trump a thumbs up, which is something of a signature move of the US president during photo-ops.

You can watch the exchange below:

It is their first meeting since the Helsinki summit, where the pair held closed-door talks and a joint press conference.

During that press conference, Trump said he saw no reason to believe Russia had interfered in the 2016 US election, but was later forced to walk back the remarks.

Trump Putin3.JPG

Elsewhere during the Armistice Day event on Sunday, Macron rebuked nationalism in what could be read as a direct attack on Trump's "America First" agenda. The French president said:

"Nationalism is a betrayal of patriotism. By saying our interests first, who cares about the others, we erase what a nation holds dearest, what gives it life, what makes it great and what is essential: its moral values.

"I know there are old demons which are coming back to the surface. They are ready to wreak chaos and death... History sometimes threatens to take its sinister course once again."

SEE ALSO: Trump reportedly fawned over Putin after their meeting and told aides the Russian leader was strong, smart, and cunning

DON'T MISS: Trump canceled his trip to the World War I memorial because of the rain

Join the conversation about this story »

NOW WATCH: Megyn Kelly in 2017: 'I regret a lot' of the controversial stuff I've said on live television

The 15 worst airports in America: RANKED

$
0
0

LAX

  •  The Points Guy, recently released a ranking of the 15 worst airports in America.
  • By looking at amenities, accessibility, and timeliness, the travel website was able to compile a report that ranked airports based on aspects that are most important to travelers. 
  • The rankings focused on specific factors such as the timeliness of arrivals and departures; the number of lounges; restaurant and shopping options; as well as transportation costs to and from the airports. 
  • John F. Kennedy International Airport was ranked as the worst airport in the country, with LaGuardia Airport coming in as the second-worst.

Everyone knows traveling is a hassle, but sometimes being at a specific airport makes the experience that much worse. 

The travel website, The Points Guy, recently released a ranking of the 15 worst airports in America. Using data collected from the Department of Transportation, the airports themselves, and third parties, the website evaluated each airport on factors such as timeliness of arrivals and departures; the number of lounges; restaurant and shopping options; as well as the cost of transportation to and from the facility. 

By looking at amenities, accessibility, and timeliness, The Points Guy was able to compile a report that ranked airports based on aspects that are most important to travelers. 

Read More:These are the best and worst airports in America to get stranded at over the holiday season

And from a traveler's angle, their rankings appear pretty objective. Anyone who has passed through Midway Airport in Chicago knows it is a barren place with few amenities—it is ranked last in The Points Guy's "amenities" category. The same goes for accessibility, as any New Yorker can tell you that getting to JFK Airport in Queens is an absolute nightmare—that airport is ranked last in the survey's "accessibility" category.  

John F. Kennedy International Airport was ranked as the worst airport in the country. 

The Points Guy editors wrote that JFK Airport had, "nearly universally poor scores for delays (third worst), cancellations (fourth worst, though LGA was worst), the longest time to drive to from the center of the city (68 minutes!) and a three-way tie for the longest connection times." 

Take a look at the 15 worst airports in America, according to The Points Guy: 

SEE ALSO: These are the best and worst airports in America to get stranded at over the holiday season

FOLLOW US: on Facebook for more car and transportation content!

15. Boston Logan International Airport



14. Denver International Airport



13. Baltimore-Washington International Thurgood Marshall Airport



See the rest of the story at Business Insider

On the centennial of Armistice Day, the US still doesn't have a national memorial for World War I — but that is about to change

$
0
0

WWI memorial Pershing Park

  • On November 11, 1918, Germany signed the Armistice, bringing an end to World War I. 
  • Over 4 million Americans served during the Great War, but the US has yet to dedicate a national memorial to honor their sacrifices.
  • Retired Col. Gerald York, grandson of legendary World War I hero Sgt. Alvin York, said a memorial is important for future generations of Americans. 
  • The memorial is funded only through donations.

 

On the corner of 15th Street and Pennsylvania Avenue in Washington, D.C., just across from White House grounds, famed World War I General John Pershing raises a pair of binoculars. 

In the midst of a tree-lined plaza dedicated to his name, the eight-foot bronze statue of one of the Great War's most celebrated heroes now overlooks park benches and concrete. But the general's view is about to change. 

Retired Col. Gerald York, grandson of decorated World War I hero Sgt. Alvin York, says it's about time.

"At last we're remembering those that served," York said.

Over 4 million Americans served during World War I, and in less than one year of fighting over 100,000 US soldiers lost their lives. Despite these sacrifices, and the myriad ways the war altered life in America and throughout the world, the conflict's veterans have never been recognized with a memorial even after their counterparts in World War II, Korea and Vietnam were so honored.

The World War I Centennial Commission has been working to rectify that — and says it is on track to dedicate a memorial in Pershing Park, under the general's watchful eyes, on November 11, 2021.

image

The project, like the war it aims to commemorate, is unique. The memorial's funding is based on donator contributions alone, and without any living veterans of the war to advocate, the commission has fought an uphill battle towards its completion, York said.

Although York's grandfather, who received the Medal of Honor, never spoke with his family about the war, Col. York said he learned about his grandfather's service through diaries and speeches, and is certain that if he were still alive, would lend his full support to building a memorial. 

Read more:The story of Sgt. York, the man who killed or captured more than 100 Germans in a WWI battle

Upon Sgt. York's death in 1964, President Lyndon Johnson lauded York as a "symbol of American courage and sacrifice." 

It is this courage and sacrifice that Col. York hopes a memorial will help future generations of Americans to discover.

For more information about the memorial or how to contribute, see www.worldwar1centennial.org.

Join the conversation about this story »

NOW WATCH: The true story behind Boston gangster Whitey Bulger


One of these 15 finalists will become Business Insider's 2018 Car of the Year

$
0
0

coty 2018 masked 4x3

Autumn has arrived, and with it the fifth installment of Business Insider's Car of the Year award.

In 2014 the Corvette Stingray was our winner. In 2015 it was the Volvo XC90. In 2016 the Acura NSX captured the trophy. And for 2017 we chose the Porsche Panamera. As with 2016 and 2017, we stuck with our lineup of 15 finalists for this year.

Our esteemed finalists are the vehicles — from sedans to supercars to SUVs — that impressed us most. They're the best of the best and were selected after a year of test-driving and reviewing more than 60 cars, trucks, SUVs, crossovers, and sports cars.

To be eligible, a model must be new or have been substantially updated within the past year, and it must have been road tested by at least two members of the Business Insider team.

In 2018, senior correspondent Matt DeBord and senior reporter Ben Zhang shared the majority of reviewing duties, with news editor Bryan Logan lending a hand on the West Coast. Images were contributed by Hollis Johnson, Business Insider's photo editor, and Jessica Tyler, our visual-features reporter.

Our methodology is straightforward, focused on basic questions:

  • Is there a strong business case for the vehicle?
  • Did our reviewers agree that the vehicle should be included? We have to come to a consensus, even though we might disagree on some particulars.
  • Was the vehicle objectively excellent? There has to be some sort of wow! factor.
  • Did the vehicle stand out from the sea of competition, particularly when it comes to technology? A Car of the Year finalist has to be special.
  • Can we strongly recommend buying or leasing the car? We demand to know whether we'd buy the vehicle ourselves if we had the resources.

We'll announce the 2018 Car of the Year on November 19 and prepare you for the big event by revealing our five runners-up the week before. We'll also reveal who won Infotainment System of the Year and Audio System of the Year.

So here they are, the 15 finalists for Business Insider's 2018 Car of the Year:

FOLLOW US: On Facebook for more car and transportation features

2019 Aston Martin DB11 Volante

Engine tested: 4.0-liter, twin-turbo, 503-horsepower V8

Base price: $219,000

Why it's here: The Volante followed our experience with the Coupé, a Car of the Year finalist in 2017.

The Volante lacked the Coupé's V12 engine, but it didn't disappoint.

DeBord wrote in his review:

"The DB11 Volante doesn't feel lighter or friskier than the Coupé — it has that same extremely purposeful vibe, supremely confident going fast in a straight line accompanied by a throaty roar of combustion through the dual exhaust pipes, supremely confident diving into corners, supremely confident racing away from semis on the highway, supremely confident just cruising through the New Jersey suburbs (well, as supremely confident as a car can be in that environment)."

Oh, and the Aston Martin DB11 Volante is absolutely gorgeous.



2018 Audi RS3

Engine tested: 2.5-liter, 400-horsepower, turbocharged five-cylinder

Base price: $54,900

Why it's here:"The Audi RS3 is simply astounding," Zhang wrote in his review of the 2018 Audi RS3 2.5T quattro S tronic.

"It's brilliant not just as a performance machine, but also as a compact luxury sedan. It's both a predatory animal lurking in the tall grasses, ready to pounce at a moment's notice, and a warm, comforting friend."

Zhang's verdict was clear: "We were blown away by the S3's style, comfort, and performance back in 2015. With the RS3, Audi and Audi Sport have simply taken things to the next level."



2018 Ferrari 812 Superfast

Engine tested: 6.5-liter, 789-horsepower V12

Base price: $335,000

Why it's here: In his review of the 812 Superfast, DeBord had this to say about his new favorite Ferrari:

"At the legal speed limit in the 812 Superfast, you've barely roused the beast. On the freeway, you can finesse the throttle to dance the 6.5-liter under the hood — a bump in displacement from the F12's 6.3-liter — enjoying the snarls and growls, or you can shift gears yourself, using the elegant carbon-fiber paddles behind the steering wheel, and feel the snaps and jerks, the kicks to your spine and sternum, as you deploy the G-forces."

For what it's worth, this glorious machine was also Business Insider's first yellow Ferrari, and at an as-tested price of $474,000, it was one of the most expensive vehicles we've ever reviewed.



See the rest of the story at Business Insider

I went to one of Bill Clinton's favorite restaurants in Arkansas, which was once described as a 'vegetarian's hell,' to see if the food lived up to the hype — here's the verdict

$
0
0

doe's eat place

  • Former President Bill Clinton has had a reputation for unhealthy eating habits, particularly before and during the early years of his presidency.
  • Doe's Eat Place, a regional restaurant chain with a location in Little Rock, Arkansas, is perhaps the most famous of the dining establishments Clinton frequented before becoming president.
  • During a trip to Little Rock in October, I stopped at Doe's for lunch to see if it lived up to the hype.
  • The food tasted great but left me feeling sluggish for hours afterward, so much so that I didn't eat for around 18 hours after my meal.

 

Former President Bill Clinton has had a reputation for unhealthy eating habits, particularly before and during the early years of his presidency. In 1992, The New York Times dedicated a story to Clinton's diet before he took office, listing cinnamon rolls, barbecue, cheeseburgers, enchiladas, and pies among his favorite foods.

Doe's Eat Place, a regional restaurant chain with a location in Little Rock, Arkansas — where Clinton served as governor from 1979-1981 and 1983-1992 — is perhaps the most famous of the dining establishments Clinton frequented before becoming president. Clinton held campaign events there, according to CBS affiliate THV-11, and was interviewed by Rolling Stone at the restaurant in 1992.

Doe's specializes in simple, greasy food like steaks, burgers, and tamales. One of the restaurant's waiters described it as "vegetarian hell" to The Times in 1992. 

During a trip to Little Rock in October, I stopped at Doe's for lunch to see if it lived up to the hype. The food tasted great but left me feeling sluggish for hours afterward, so much so that I didn't eat for around 18 hours after my meal.

Clinton has adopted a healthier, vegan diet since the end of his presidency, and I can see why.

Here's what it was like to eat at one of Bill Clinton's favorite restaurants.

SEE ALSO: I stayed at a DoubleTree for 3 nights to see if the mid-priced hotel is a better value than pricier options — here's the verdict

I arrived at Doe's on a Thursday afternoon in October.



The interior was bigger than I expected, given the restaurant's narrow exterior.



The walls were covered in framed photos.



See the rest of the story at Business Insider

The most expensive, rare, and bizarre vehicles Lewis Hamilton drives when he's not racing

$
0
0

Lewis Hamilton Mercedes car

Lewis Hamilton is a young, massively successful athlete who has been crowned Formula 1 world champion five times.

He earns approximately $51 million a year, according to Forbes, and is known for his relationships with some of the most famous women on the planet — most recently Nicki Minaj, who he went ATV riding with in Dubai, but also singers like Rihanna, Rita Ora, and Nicole Scherzinger in the past.

If that's not enough, his vehicle collection is also ridiculous — and it's not just cars he likes to buy, drive, or be driven in, either.

Keep scrolling to see the most expensive, rare, and bizarre vehicles Hamilton drives when he's not racing.

SEE ALSO: Formula 1 driver Lewis Hamilton took Usain Bolt for a stunt ride in a $200,000 Mercedes

DON'T MISS: How to eat breakfast, lunch, and dinner like an elite-level Formula One driver

This is British racer Lewis Hamilton, who was recently crowned Formula 1 world champion for the fifth time.



The view from Hamilton's office window typically looks like this. He has a cockpit that offers very little space, and he hurtles around a race track at speeds of 200mph. Hamilton, a Mercedes athlete, drove the company's F1 W09 EQ Power+ car in the 2018 season, but it's not the only vehicle he gets his mitts on.

Instagram Embed:
//instagram.com/p/BoXLyVzhq9-/embed
Width: 540px

Source:Instagram.



Hamilton passed his driving test in 2002 and bought his first car — a second-hand Mini Cooper not too dissimilar to the model Mr. Bean made famous in the British sitcom featuring Rowan Atkinson. Before long, Hamilton was lent a Mercedes C 200 by a dealership which he said was "very cool" and popular "with the ladies" when he was only 18. The second car he bought was a bit of a step up, as he purchased a Ferrari 599 GTO, a vehicle he only recently sold.

Source:Sunday Times: Driving.



See the rest of the story at Business Insider

All of the celebrities who have evacuated or lost their homes as wildfires spread across California

$
0
0

california wildfire

At least 31 people are dead and thousands of homes have been destroyed in three dangerous wildfires which are burning across California.

The Camp Fire, in northern California, started Thursday morning, killing at least 29 people and burning the entire 27,000-population town of Paradise.

Meanwhile, two smaller fires — The Woolsey and Hill Fires — also started on Thursday to the south, and are burning through parts of Ventura and the outskirts of Los Angeles, shutting down stretches of the freeway. Another small fire broke out on Friday morning inside the city limits of LA.

You can see a map of the fires here.

So far there are two reported deaths from the southern California fires, and at least 150 homes have been burned, according to southern California officials, with that number expected to rise.

Among those properties threatened are a number of celebrity homes, and A-listers were among the 250,000 people in Ventura and LA countries who had already been evacuated as of Friday night.

Read more:At least 9 people dead, thousands of homes destroyed in 3 dangerous wildfires burning across California

Here are all of the celebrities who have evacuated their homes during the fires so far.

Kim Kardashian-West

Kim Kardashian-West was forced to flee her Hidden Hills property within one hour on Thursday night, according to People, after coming home to find that the wildfire in her neighborhood was burning out of control.

She filmed the flames from her private jet and shared the aerial video to her Instagram stories, telling fans she was evacuating and asking them to "pray for Calabasas."

She then tweeted that she had "heard the flames have hit our property at our home in Hidden Hills but now are more contained and have stopped at the moment."

Kardashian-West also shared a picture on Instagram where she told followers she was trying to take her mind off the fire.

Instagram Embed:
//instagram.com/p/Bp-pePcnuDX/embed
Width: 540px

 



Caitlyn Jenner

Jenner was forced to leave her home in the Malibu hills, explaining on Instagram that she'd gone to a safe house.

A couple of days later, Jenner posted an update explaining that she'd made it back to her house and it hadn't been destroyed, but that it was "devastating here in Malibu" and the hills are "scorched" and "fried."

Instagram Embed:
//instagram.com/p/BqD2GC-hj5P/embed
Width: 540px

 



Kourtney Kardashian

Kim's sister Kourtney lives in the area of Calabasas, and also chose to evacuate.

According to People, she shared a photo of her car trunk packed with bags saying: "I pray that everyone is kept safe and protected from these fires. No Calabasas tonight."



See the rest of the story at Business Insider

The marijuana producer Aurora Cannabis jumps after posting huge growth (ACB)

$
0
0

marijuana

The marijuana producer Aurora Cannabis jumped 4% early Monday after posting first-quarter results.

Here are the key numbers:

  • Revenue: $29.7 million, +260% year-over-year
  • Profit: $ 104.2 million, +2,826% YoY
  • Gross margin on cannabis: 70%,  +12 percentage points YoY
  • Total kilogram equivalents sold: 2.68 million, +201% YoY
  • Production run rate early in 2019: 150,000 kilograms per year

"The commencement of adult consumer use sales in Canada has been very successful for Aurora, with strong performance across all product categories and brands,"CEO Terry Booth said in the press release.

"Our initial roll-out success demonstrates how our high-quality Aurora Standard products and well-positioned brands have resonated strongly with the consumer market and our preparedness for the logistical challenges in effectively bringing our products to market.  Given the strong unmet consumer demand evident across Canada, we are confident that our rapidly increasing production capacity will result in continued acceleration of revenue growth." 

Shares were down 21% this year.

Now read:

ACB

Join the conversation about this story »

NOW WATCH: Valedictorians rarely become rich and famous — here's why the average millionaire's college GPA is 2.9

Viewing all 76301 articles
Browse latest View live




Latest Images