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The latest news from Business Insider

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    ariana grande

    • Ariana Grande's "thank u, next" music video was released on Friday. 
    • The video received 1 million views in its first 35 minutes of being released, which caused issues on YouTube, the company said.
    • The company tweeted that Grande "broke the internet" and that comments on her video were showing up on a delay. 
    • The delayed comments don't seem to be slowing anyone down from actually watching the video, as it has already received over 6 million views. 

    Ariana Grande's "thank u, next" music video has broken the internet, slightly. 

    Released on Friday, the music video — which features scenes reenacted from the films "Mean Girls,""Legally Blonde,""13 Going on 30," and "Bring It On"— received 1 million views on YouTube in its first 35 minutes of being released. According to Pop Crave, that makes "thank u, next" the fastest video to reach that mark, ever. 

    The surge caused some issues for YouTube, which tweeted that comments on Grande's video would be delayed amid the crushing onslaught of fans. 

    The delayed comments don't seem to be slowing down anyone from actually watching the video. As of 3:45 PM PST, Grande's "thank u, next" had over 6 million views. 

    A spokesperson for YouTube said the company is looking into the issue but did not provide a timeline as to when it will be fixed. 

    Watch the full "thank u, next" music video here:

     

    Join the conversation about this story »

    NOW WATCH: A running coach explains how to get through the NYC marathon this weekend


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    Screen Shot 2018 11 29 at 8.19.05 PM

    • Three people were killed when a pickup truck suspected of smuggling 11 people across the US-Mexico border lost control and rolled over near San Diego.
    • The truck reached up to 100 mph in the rain on Interstate 8.
    • Border Patrol agents who pursued the vehicle deployed a controlled tire deflation device (CTDD) to flatten the truck's tires.
    • The driver, a US citizen identified as 21-year-old Luis Alberto Virgen, was arrested and jailed.
    • The incident is under investigation. It is not yet known if agents saw passengers inside the truck's cargo bed, a Border Patrol press officer told INSIDER.

    Three people were killed when a pickup truck suspected of smuggling 11 people across the US-Mexico border lost control and rolled over after Border Patrol agents deployed a "tire deflation device" on Thursday night.

    At 4:10 p.m., Border Patrol agents discovered multiple tire tracks near the border that continued northbound into the US — a "typical sign" of smuggling activity, according to the Border Patrol. A piece of a vehicle was also discovered in the area.

    Ten minutes later, agents discovered a Chevy Silverado that was missing a part identical to the part of the vehicle they found, the Border Patrol and the San Diego Union-Tribune reported. Agents signaled for the truck to stop, but the driver fled, prompting a 100 mile-per-hour chase in the rain on Interstate 8.

    Agents eventually used a controlled tire deflation device (CTDD) to flatten the truck's tires, causing the driver of the truck to lose control one minute later. As it approached the side of the highway, the truck crashed and rolled over, according to the Border Patrol.

    Three of the 11 passengers were ejected and pronounced dead at the scene. Seven of the passengers were hospitalized.

    The driver, a US citizen identified as 21-year-old Luis Alberto Virgen, was arrested and jailed.

    The incident is being investigated. It is not yet known whether agents saw passengers inside the truck's cargo bed, a Border Patrol press officer told INSIDER.

    The Border Patrol's policy allows certified agents to use the CTDD only "when the immediate or potential danger ... is less than the immediate or potential danger to the public" if the suspect vehicle continues driving.

    "The CTDD shall be deployed in a manner that minimizes risk of injury to persons or damage to property," a 2014 Border Patrol guideline said.

    SEE ALSO: At least 3 people killed when a truck carrying passengers in cargo bed overturns while fleeing from Border Patrol

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    NOW WATCH: Fox News' Harris Faulkner is the only black woman in cable news with a daily show: 'It's a tremendous amount of responsibility'


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    north korea south korea dmz 8

    • A North Korean soldier reportedly defected to South Korea at around 7:56 a.m. local time on Saturday.
    • The South Korean military spotted the suspected defector crossing the military demarcation line that separates the border.
    • Authorities are investigating.

    A North Korean soldier reportedly defected to South Korea at around 7:56 a.m. local time on Saturday, according to South Korean news reports.

    South Korea's Joint Chiefs of Staff said the military detected the defector crossing the military demarcation line separating the border, according to Yonhap News.

    "Related agencies plan to investigate him regarding the details of how he came to the South," the Joint Chiefs said in a message.

    The Joint Chief's added that there were no "unusual" North Korean troops movements in the neighboring area following the incident.

    The incident marks the first military defection from North Korea since the two countries agreed to take several steps to lower tensions. In October, both countries agreed to withdraw firearms, dismantle guard posts at the border, and share surveillance information.

    President Donald Trump and South Korean President Moon Jae-in briefly met at the G20 summit in Argentina on Friday, where Trump reaffirmed his intention to hold a second summit with North Korean leader Kim Jong Un. 

    Defections into South Korea have incensed North Korea, which typically rekindles tensions between the two countries and the UN Command. Although some defectors have difficulty in adjusting to life in South Korea, they are offered education, meals, and jobs from the government.

    According to one estimate from South Korea's Ministry of Unification, the number of defections under Kim's rule have dropped — from 2,706 in 2011 to 1,127 in 2017. Over 30,000 North Koreans have defected since the Korean War armistice ended hostilities in 1953.

    Another North Korean soldier defected to South Korea, under a hail of gunfire, across the military demarcation line in November 2017.

    This is a developing story. Check back for updates.

    SEE ALSO: Watch a North Korean defector make a daring escape under heavy gunfire

    Join the conversation about this story »

    NOW WATCH: The true story behind Boston gangster Whitey Bulger


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    Kareem Hunt

    • Star running back Kareem Hunt has been released by the Kansas City Chiefs.
    • The moves came after TMZ published a video that appeared to show Hunt shoving and kicking a woman during a late-night, offseason altercation.
    • The Chiefs released a statement saying that Hunt had not been truthful with them during their investigation into the incident.

    The Kansas City Chiefs announced on Friday evening that they have released star running back Kareem Hunt.

    The move came after TMZ published a video earlier in the day showing a late-night altercation between Hunt and woman in which he appeared to shove and kick and the woman.

    Read more:Disturbing video appears to show Chiefs running back Kareem Hunt shoving and kicking a woman in a February dispute

    Here is the statement from the Chiefs in which they say he was "not truthful" when they originally investigated the incident:

    "Earlier this year, we were made aware of an incident involving running back Kareem Hunt. At that time, the National Football League and law enforcement initiated investigations into the issue. As part of our internal discussions with Kareem, several members of our management team spoke directly to him. Kareem was not truthful in those discussions. The video released today confirms that fact. We are releasing Kareem immediately."

    Join the conversation about this story »

    NOW WATCH: Inside an intense training session where aspiring WWE wrestlers learn how to fight


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    Donald Trump, Jr.

    • Michael Cohen is quickly emerging as one of the most dangerous cooperators not only against President Donald Trump, but also his son, Donald Trump Jr.
    • Cohen's plea deal with the special counsel Robert Mueller raises fresh questions about whether Trump Jr. misled congressional investigators about a now-defunct proposal to build a Trump Tower in Moscow.
    • Rep. Adam Schiff, the ranking member on the House Intelligence Committee said Cohen's plea deal indicates that "other witnesses were also untruthful before our committee."
    • A knowledgeable congressional source told INSIDER Trump Jr. was one of the witnesses to whom Schiff was referring.

    When the FBI raided Michael Cohen's property earlier this year and it surfaced that he was the target of a federal criminal investigation, Justice Department veterans warned that if he were to flip, he could be the most dangerous cooperating witness against President Donald Trump and his family.

    This week, the special counsel Robert Mueller's office revealed a slice of just how much dirt Cohen may have on Trump in a charging document laying out how Cohen misled congressional investigators last year about the Trump Organization's effort to build a Trump Tower in Moscow during the 2016 election.

    Cohen and Trump have known each other for years, and in addition to being Trump's personal lawyer, he was also his longtime fixer and served as the Trump Organization's lead attorney for a decade.

    Prosecutors said Cohen, who pleaded guilty to one count of lying to Congress, misled lawmakers when he said negotiations for the Trump Tower Moscow deal ended in January 2016 and that he did not discuss it extensively with Trump Organization executives. They said Cohen did so "in hopes of limiting the ongoing Russia investigations."

    These revelations don't just spell trouble for Trump. They've also cast the spotlight back on Donald Trump Jr., Trump's eldest son who is an executive vice president at the Trump Organization.

    Donald Trump Jr

    Trump Jr. misled the House Intelligence Committee, per source

    When he testified before the Senate Judiciary Committee last September, Trump Jr. told the panel he "wasn't involved" in the Trump Tower Moscow project and was only "peripherally aware" of it in 2016.

    He also said he was not aware Cohen had reached out to the Russian government about the deal and indicated that Cohen's work with the Russian-born businessman Felix Sater on the project ended in 2015.

    But prosecutors wrote that Cohen "discussed the status and progress of the Moscow Project" with Trump "on more than the three occasions Cohen claimed" to the Senate Intelligence Committee and that "he briefed family members" of Trump within the Trump Organization about it.

    They also said Cohen admitted to pursuing the deal with Sater as late as June 2016, after Trump became the presumptive Republican presidential nominee.

    After Cohen's plea deal was announced, Rep. Adam Schiff, the ranking member on the House Intelligence Committee, said in a statement that Cohen's plea "highlights concern over another issue – that we believe other witnesses were also untruthful before our committee."

    A knowledgeable congressional source told INSIDER that Trump Jr. was one of the witnesses to whom Schiff was referring.

    Michael Cohen

    Trump Jr. 'ought to be alarmed'

    Elie Honig, a former federal prosecutor from the Southern District of New York, told INSIDER the president's son "ought to be alarmed" by Cohen's plea deal. "We know Trump Jr. was questioned on the same topics that Michael Cohen has now been convicted of lying about."

    It's unclear exactly what Trump Jr. told the House Intelligence Committee about the scrapped deal, because his interview took place in a closed-door session.

    "The decision of whether to charge Trump Jr. with perjury is really going to come down to a question of precision," Honig said. "How clear is it that he misstated the truth? Did he leave himself enough wiggle room, and is his version of facts squarely contradicted by documents, emails, or other evidence showing his level of involvement?"

    Honig added the caveat that Trump Jr. likely did not have the same level of involvement in the project as Cohen did. But, he added, "it's clear he did have some involvement at some time. So the key question is going to be, how much was Trump Jr. involved in, and how does that square off with the specifics of his testimony?"

    Cohen has been cooperating with investigators since August, when he pleaded guilty to tax evasion, bank fraud, and campaign-finance violations in a separate Manhattan US attorney's office investigation into his and Trump's financial dealings before the election. His most recent sit-down with Mueller was last week.

    Robert Mueller

    'You don't get a pass because your last name is Trump'

    Cohen's is the first guilty plea Mueller has secured that is directly connected to Trump's business dealings in Russia. And he is the first person Mueller has prosecuted for lying to Congress.

    But DOJ veterans say that doesn't mean he'll be the last.

    "There are certainly others at the Trump Organization that knew about this Russian overture," Jeffrey Cramer, a longtime former federal prosecutor in Chicago, told INSIDER. "If they knew about it and lied, either to Mueller or to Congress, there's no reason to think they'd be treated differently than Cohen. You don't get a pass because your last name is Trump."

    If it emerges that Trump Jr. knew more than he was letting on about the deal and gave false testimony about it to congressional committees, "he or any other individual is now staring at the same fate Cohen is," Cramer said. "It brings home to those in the company who may have lied about the deal that their time could be coming sooner rather than later."

    This isn't the first time Trump Jr.'s congressional testimony has come under the microscope.

    Lawmakers also questioned the president's son about his involvement in a June 2016 meeting at Trump Tower between top campaign officials and two Russian lobbyists offering dirt on the Hillary Clinton campaign as "part of Russia and its government's support" for Trump's candidacy.

    Trump and his lawyers have said he did not know about the meeting until after it was reported on last July. Trump Jr. told the Senate Judiciary Committee the same, saying he did not inform his father of the meeting prior to its occurrence.

    But CNN, citing sources with knowledge of the matter, reported in July that Cohen claims he was one of several people who were present when Trump Jr. informed Trump of the offer before the meeting. Cohen reportedly says that Trump greenlit the meeting after hearing about it from his son.

    CNN and NBC News reported that Cohen does not have physical evidence — like a tape recording — to back up his claim but was willing to testify about it under oath to Mueller.

    Join the conversation about this story »

    NOW WATCH: The Obamas are worth $40 million — here's how they make and spend their money


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    George Bush

    • Former President George H.W. Bush died Friday at the age of 94.
    • Bush suffered from a form of Parkinson's disease and was hospitalized periodically in recent years for pneumonia.
    • Bush is survived by his five children, 17 grandchildren, eight great grandchildren, and two siblings.

    Former President George H.W. Bush, the 41st president of the United States, died Friday at 94.

    He is survived by his five children, 17 grandchildren, eight great grandchildren, and two siblings.

    Bush was admitted to Houston Methodist Hospital in April after "contracting an infection that spread to his blood," according to a statement from Bush family spokesman Jim McGrath.

    Bush suffered from a form of Parkinson's disease and had been hospitalized several times in recent years. The former commander-in-chief was treated for pneumonia and was temporarily placed on a ventilator in 2017.

    Bush served as president from 1989 to 1993. Before that, he served as vice president under Ronald Reagan from 1981 to 1989.

    George Bush and barbara bush

    Bush's death follows the passing of his wife, former first lady Barbara Bush, who died on April 17. Barbara, 92, suffered from chronic obstructive pulmonary disease (COPD) and congestive heart failure. The two had been married for 73 years.

    Bush, a Massachusetts native, joined the US armed forces on his 18th birthday in 1938 and eventually became the youngest naval pilot at the time. He flew a total of 58 combat missions during World War II, including one where he was shot down by Japanese forces.

    "George H.W. Bush was a man of the highest character and the best dad a son or daughter could ask for," former President and son George W. Bush said in a statement. "The entire Bush family is deeply grateful for 41's life and love, for the compassion of those who have cared and prayed for dad, and for the condolences of our friends and fellow citizens."

    President Donald Trump also released a statement following news of Bush's death: "Melania and I join with a grieving Nation to mourn the loss of former President George H.W. Bush, who passed away last night."

    "Our hearts ache with his loss, and we, with the American people, send our prayers to the entire Bush family, as we honor the life and legacy of 41," Trump added.

    george hw bush

    From the Ivy League to the oil business, and then public service

    After graduating from Yale University and venturing into the oil business, Bush jumped into politics and eventually became a congressman, representing the 7th Congressional District in Texas. He made two unsuccessful runs for Senate, but would later serve in various political capacities — including as the US ambassador the United Nations, Republican National Committee chair, and CIA director.

    Bush decided to run for president in 1980; however, failed to secure the Republican Party's nomination during the primaries. Reagan soon chose Bush as his running mate and vice presidential nominee.

    He ran for president again with Sen. Dan Quayle of Indiana as his running mate, and won, in 1988.

    During his time in office, Bush oversaw major foreign-policy decisions that would have lasting effects on the global stage.

    As one of his first major decisions, Bush decided to remove Panamanian dictator Manuel Noriega — a former US ally turned international drug lord — from power. Around 23,000 US troops took part part in "Operation Just Cause" and invaded Panama. Noriega eventually surrendered to the US and although the operation was seen as a US victory, it was also viewed as a violation of international law.

    george hw bush

    As the sitting president during the demise of the Soviet Union, Bush held summits with Soviet President Mikhail Gorbachev and advocated for the reduction of nuclear weapons while cultivating US-Soviet ties. When the Soviet Union finally fell, Bush heralded it as a "victory for democracy and freedom" but held back on implementing a US-centric policy on the confederation of nations that emerged.

    On August 2, 1990, Bush faced what was arguably his greatest test. Iraq, led by Saddam Hussein, invaded Kuwait after accusing it of stealing oil and conspiring to influence oil prices. Bush formed a coalition of nations, including the Soviet Union, to denounce Hussein's actions and liberate Kuwait in "Operation Desert Shield" and eventually "Operation Desert Storm." Around 425,000 US troops and 118,000 coalition forces were mobilized for weeks of aerial strikes and a 100-hour ground battle.

    Despite his achievements beyond the US border, Bush was less successful back home. He fell short in his bid for reelection in 1992, during a time of high unemployment rates and continued deficit spending. Bush pulled in only 168 electoral votes that year, compared to Bill Clinton — then the governor of Arkansas — who collected 370 electoral votes.

    Following his presidency, the Bushes relocated to Houston, Texas, where they settled down and became active in the community.

    George hw bush

    Bush received several accolades after his presidency, including receiving a knighthood at Buckingham Palace, and having the US Navy's nuclear-powered aircraft carrier, the USS George H.W. Bush (CVN 77), named after him.

    In 2017, several women accused Bush of sexual misconduct and telling lewd jokes. Bush's representatives released a statement at the time, saying that he occasionally "patted women's rears in what he intended to be a good-natured manner."

    Bush is survived by his sons, former President George W. Bush, former Florida Gov. Jeb Bush, Neil Bush, Marvin Bush, and daughter Dorothy Bush Koch.

    "Some see leadership as high drama and the sound of trumpets calling, and sometimes it is that," Bush said during his inaugural address on January 20, 1989. "But I see history as a book with many pages, and each day we fill a page with acts of hopefulness and meaning."

    Bush continued: "The new breeze blows, a page turns, the story unfolds. And so, today a chapter begins, a small and stately story of unity, diversity, and generosity — shared, and written, together."

    SEE ALSO: 14 of George H.W. Bush's most presidential quotes

    Join the conversation about this story »

    NOW WATCH: This top economist has a radical plan to change the way Americans vote


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    2x1 George H W Bush

    Former President George H.W. Bush died on Friday, November 30, at 11:10 p.m. ET, at age 94.

    In April, Bush was admitted to Houston Methodist Hospital for a blood infection. His hospitalization came nearly a week after his wife, former first lady Barbara Bush, died at age 92.

    To honor him, here are 14 of his most presidential quotes:

    SEE ALSO: Former President George H.W. Bush dies at age 94

    DON'T MISS: Inside the 'storybook' marriage of Barbara and George HW Bush — who were married longer than any first couple, and still said 'I love you' every night

    On the future:



    On campaigning:



    On freedom:



    See the rest of the story at Business Insider

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    barbara george hw bush

    Former President George H.W. Bush died Friday, November 30 at age 94. His wife, the former First Lady Barbara Bush, died in April at age 92.

    They are survived by their five children, 17 grandchildren, eight great grandchildren, and two siblings.

    Bush was admitted to Houston Methodist Hospital in April after "contracting an infection that spread to his blood," according to a statement from Bush family spokesman Jim McGrath. His health had been declining in recent years.

    Barbara Bush had been battling Chronic Obstructive Pulmonary Disease and congestive heart failure, and was hospitalized several times over the last year.

    Bush, who resided in the White House for four years while her husband, served as Commander in Chief, had been married to the 41st president of the United States for 73 years.

    Described as a true love story, here is an inside look at the longest marriage in US presidential history:

    SEE ALSO: Inside the marriage of Donald and Melania Trump, who broke up once before, reportedly sleep in different bedrooms, and are weathering rumors of his affairs

    DON'T MISS: Inside the marriage of Barack and Michelle Obama, who met at work and kissed outside an ice cream store on their first date

    Barbara Pierce and George Bush met at a dance over Christmas vacation in 1942. She was 16 and he was 17, and Barbara claimed that George was the first boy she ever kissed.

    Source: Associated Press



    After dating for a year and a half, the two became engaged and planned to get married before George went off to serve in World War II as a Navy pilot. He famously named three of his Navy planes after her, and the two shared love letters while he was away.



    On January 6, 1945, the couple married at the First Presbyterian Church in Rye, New York while George was on leave from war. He was 20 and she was 19.



    See the rest of the story at Business Insider

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    The President's Club

    • Former President George H.W. Bush died on Friday, November 30, at age 94.
    • George W. Bush, Barack Obama, former first lady Michelle Obama, and others reacted to the 41st president's death, and offered remembrances of his duty and public service.

    Former president George H.W. Bush died on Friday, November 30, at age 94. Former presidents George W. Bush and Barack Obama and the former first lady Michelle Obama are among those who reacted to the 41st president's death, and offered remembrances of his duty and public service.

    Former President George W. Bush

    "Jeb, Neil, Marvin, Doro, and I are saddened to announce that after 94 remarkable years, our dear dad has died," the statement from H.W. Bush's son and fellow former president read. "George H.W. Bush was a man of the highest character and the best dad a son or daughter could ask for. The entire Bush family is deeply grateful for 41's life and love, for the compassion of those who have cared and prayed for dad, and for the condolences of our friends and fellow citizens."

    Former President Barack Obama and former First Lady Michelle Obama

    "America has lost a patriot and humble servant in George Herbert Walker Bush," the statement from the Obamas said. "While our hearts are heavy today, they are also filled with gratitude. Not merely for the years he spent as our forty-first President, but for the more than 70 years he spent in devoted service to the country he loved – from a decorated Naval aviator who nearly gave his life in World War II, to Commander-in-Chief of our Armed Forces, with plenty of posts along the way. Ambassador to the United Nations. Director of Central Intelligence. U.S. Envoy to China. Vice President of the United States."

    "After seventy-three years of marriage, George and Barbara Bush are together again now, two points of light that never dimmed, two points of light that ignited countless others with their example – the example of a man who, even after commanding the world’s mightiest military, once said 'I got more of a kick out of being one of the founders of the YMCA in Midland, Texas back in 1952 than almost anything I’ve done,'" the statement continued.

    President Donald Trump and First Lady Melania Trump

    "Melania and I join with a grieving Nation to mourn the loss of former President George H.W. Bush, who passed away last night," President Trump and the first lady said in a statement.

    "Through his essential authenticity, disarming wit, and unwavering commitment to faith, family and country, President Bush inspired generations of his fellow Americans to public service — to be hin his words, 'a thousand points of light' illuminating greatness, hope, and opportunity of American to the world," the statement continued.

    Former President Bill Clinton and former Secretary of State Hillary Clinton

    "Hillary and I mourn the passing of President George H.W. Bush, and give thanks for his great long life of service, love, and friendship," the statement read.

    "I will be forever grateful for the friendship we formed," the Clinton's statement continued. "From the moment I met him as a young governor invited to his home in Kennebunkport, I was struck by the kind ess he showed to Chelsea, by his innate genuine decency, and by his devotion to Barbara, his children, and their growing brood."

    Former Vice President Dan Quayle, who served as President George H.W. Bush's vice president.

    "As so many Americans did, I had true affection for the man George Bush," the former vice president said in a statement. "He was a completely genuine, decent, and honorable person. What's more, he went into and out of the office as absolutely the same man. I think that exemplifies his character. I have often told my children, 'If you want a role model in your life — look to President George Herbert Walker Bush.' The world mourns the loss of a great American. But it also celebrates a life well lived."

    Former Vice President Al Gore

    "President George H.W. Bush served our nation with extraordinary integrity and grace," former Vice President Gore said in a statement. "I will remember him for his personal kindness and for his love of this country. He earned bipartisan respect for speaking up and taking action for what he believed was right, even when doing so was unpopular. He inspired countless Americans to volunteer and improve their communities through his Points of Light Foundation. President Bush leaves behind an American legacy of a lifetime of service that will be revered for generations."

    The US Naval Air Forces

    "Naval Aviation mourns the passing of our 41st President, George H.W. Bush, a Naval Aviator, statesman, and humble public servant," the US Naval Air Forces said in a tweet. "His legacy lives on in those who don the cloth of our great nation and in the mighty warship which bears his name, @CVN77_GHWB. May he Rest In Peace."

    SEE ALSO: Former President George H.W. Bush dies at age 94

    Join the conversation about this story »

    NOW WATCH: The Obamas are worth $40 million — here's how they make and spend their money


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    Mobility Market

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

    Automakers are on the verge of a prolonged period of rapid change to the way they do business, thanks to the combined disruptive forces of growing on-demand mobility services and self-driving cars, which will start to come to market in the next couple of years.

    By the end of 2019, Google spinoff Waymo, Uber, and GM all plan to have fleets of autonomous cars deployed in various US cities to provide on-demand rides for passengers. By eliminating the cost of the driver, these rides are expected to be far cheaper than typical Uber or Lyft rides, and even cheaper than owning a car for personal transportation.

    Many industry experts are predicting that such cheap on-demand autonomous rides service will result in a long-term decline in car ownership rates — PwC predicts that the total number of cars on the road in the US and EU will drop from 556 million last year to 416 million in 2030.

    This decline in car ownership represents an enormous threat to automakers’ traditional business models, forcing them to find alternative revenue sources. Many of these automakers, including GM, Ford, and Daimler, have plans to launch their own on-demand ride-hailing services with fleets of self-driving cars they will manufacture, potentially giving them a new stream of recurring revenue. This could set them up to take a sizeable share of a market that is expected to be worth trillions by 2030.

    However, competing in the on-demand mobility market will pit legacy automakers against ride-hailing services from startups and tech giants that have far greater experience in acquiring and engaging consumers through digital channels. To succeed in what will likely be a hyper-competitive market for urban ride-hailing, automakers will have to foster new skill sets in their organizations, and transform from companies that primarily produce vehicles to ones that also manage vehicle fleets and customer relationships.

    That will entail competing with startups and tech giants for software development and data science talent, as well as reforming innovation processes to keep pace with digital trendsetters. Automakers will also need to create unique mobile app and in-car experiences to lure customers. Finally, these automakers will face many overall barriers in the market, including convincing consumers that self-driving cars are safe, and dealing with a complex and evolving regulatory landscape.

    In a new report, Business Insider Intelligence, Business Insider's premium research service, delves into the future of the on-demand mobility space, focusing on how automakers will use fleets of self-driving vehicles to break into an emerging industry that's been dominated thus far by startups like Uber and Lyft. We examine how the advent of autonomous vehicles will reshape urban transportation, and the impact it will have on traditional automakers. We then detail how automakers can leverage their core strengths to create new revenue sources with autonomous mobility services, and explore the key areas they'll need to gain new skills and capabilities in to compete with mobility startups and tech giants that are also eyeing this opportunity. 

    Here are some of the key takeaways:

    • The low cost of autonomous taxis will eventually lead car ownership rates among urban consumers to decline sharply, putting automakers’ traditional business models at risk.
    • Many automakers plan to launch their own autonomous ride-hailing services with the self-driving cars they're developing to replace losses from declining car sales, putting them in direct competition with mobility startups and tech giants looking to launch similar services.
    • Additionally, automakers plan to maximize utilization of their autonomous on-demand vehicles by performing last-mile deliveries, which will force them to compete with a variety of players in the parcel logistics industry.
    • Regulatory pressures could also push automakers to consider alternative mobility services besides on-demand taxis, such as autonomous on-demand shuttle or bus services.
    • Providing these types of services will force automakers to make drastic changes to their organizations to acquire new talent and skills, and not all automakers will succeed at that.

    In full, the report:

    • Forecasts the growth of autonomous on-demand ride-hailing services in the US.
    • Examines the cost benefits of such services for consumers, and how they will reshape consumers’ transportation habits.
    • Details the different avenues for automakers to monetize the growth of autonomous ride-hailing.
    • Provides an overview of the various challenges that all players in the self-driving car space will need to overcome to monetize their investments in these new technologies in the coming years.
    • Explains the key factors that will be critical for automakers to succeed in this emerging market.
    • Offers examples of how automakers can differentiate their apps and services from competitors’.

    Subscribe to an All-Access pass to Business Insider Intelligence and gain immediate access to:

    This report and more than 250 other expertly researched reports
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    And more!
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    CLINTON INAUGURATION 1993

    • After losing the 1992 presidential election, former President H.W. Bush — following in a longstanding tradition— left a heartfelt note to his successor, and the man who defeated him for the presidency then-President Bill Clinton.
    • "Your success now is our country’s success. I am rooting hard for you."
    • Former President George H.W. Bush died on November 30 at age 94.

    After losing the 1992 presidential election, former President H.W. Bush — following in a long-standing tradition— left a heartfelt note to his successor, and the man who defeated him for the presidency, then-President Bill Clinton.

    "Your success now is our country’s success," Bush wrote in closing. "I am rooting hard for you."

    That letter was being shared on social media Friday night, as people remembered the 41st president, who died at age 94 on November 30.

    Read the full letter is below:

    Jan. 20, 1993

    Dear Bill,

    When I walked into this office just now I felt the same sense of wonder and respect that I felt four years ago. I know you will feel that, too.

    I wish you great happiness here. I never felt the loneliness some Presidents have described.

    There will be very tough times, made even more difficult by criticism you may not think is fair. I’m not a very good one to give advice; but just don’t let the critics discourage you or push you off course.

    You will be our President when you read this note. I wish you well. I wish your family well.

    Your success now is our country’s success. I am rooting hard for you.

    Good Luck — George

    Late Friday night, remembrances of the 41st president poured out from former President Bill Clinton, President Trump, former President Barack Obama, and more.

    SEE ALSO: Former US presidents George W. Bush, Barack Obama and more react to the death of former president George H.W. Bush Former President George H.W. Bush died on Friday, November 30, at age 94.

    Join the conversation about this story »

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    George H.W. Bush

    • Prior to his presidency, George H.W. Bush served in the US Navy as a pilot and flew on bombing missions against the Japanese during World War II.
    • During a bombing attack against a Japanese island, Bush's aircraft was hit with anti-aircraft fire.
    • After releasing his payload, Bush ejected from his aircraft and was eventually rescued by a lifeguard submarine.

    Prior to his presidency, George H.W. Bush served in the US Navy as a pilot, and he flew on bombing missions against the Japanese during World War II.

    Bush learned of the Japanese attack on Pearl Harbor as a teen, and six months later, on his 18th birthday, he enlisted in the US Naval Reserve. He went on to become one of the youngest aviators in the Navy and was assigned a photographic officer with a torpedo squadron.

    During an attack against Chichi Jima, a heavily fortified island that Japanese forces used for communications and supplies, Bush's aircraft, a TBM Avenger, was hit with anti-aircraft fire. Bush's two crewmembers were killed in the attack.

    With the aircraft's engine on fire, Bush released his payload against his target, which was a radio tower. He then ejected from his aircraft, parachuted into the ocean, and waited on an inflatable raft for four hours. Bush was eventually rescued by the USS Finback, a lifeguard submarine.

    Following Japan's surrender in 1945, Bush was honorably discharged from active duty and went on to attend Yale University.

    Bush died at 94, on Friday night. He is survived by his five children, 17 grandchildren, eight great grandchildren, and two siblings. The White House's flags were lowered to half staff.

    The aircraft carrier USS George H.W. Bush (CVN 77) was christened in honor of Bush in 2006.

    "His legacy lives on in those who don the cloth of our great nation and in the mighty warship which bears his name, [CVN 77 George H.W. Bush]," the US Naval Air Forces said in a tweet. "May he Rest In Peace."

    SEE ALSO: Former President George H.W. Bush dies at age 94

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    NOW WATCH: What serving in the military taught beauty YouTuber Jackie Aina


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    Eric Schmidt CFE Lecture London

    • Eric Schmidt, the former CEO of Google, gave the Centre for Entrepreneurs lecture in London this week.
    • In a draft of the speech, seen by Business Insider, Schmidt outlined what he sees as the three big market failures holding back tech entrepreneurship today.
    • He said tech startups need to be more diverse, less product driven, and more willing to partner early.

    Former Google CEO Eric Schmidt has listed the three "big failures" in tech entrepreneurship around the world.

    Schmidt outlined the failings in a speech he gave at the Centre for Entrepreneurs in London this week. He later expanded on his thoughts in an interview with former BBC News boss James Harding.

    Below are the three mistakes he outlined, with quotes taken from both a draft of his speech seen by Business Insider, and comments he delivered on the night.

    1. People stick to who and what they know

    "Far too often, we invest mostly in people we already know, who are working in very narrow disciplines," Schmidt wrote in his draft.

    In his speech, Schmidt pegged this point closely to a need for diversity and inclusion. He said companies need to be open to bringing in people from other countries and backgrounds.

    He said entrepreneurship won't flourish if people are "going to one institution, hiring only those people, and only — if I can be blunt — only white males."

    During the Q&A, Schmidt specifically addressed the gender imbalance in the tech industry. He said there's a reason to be optimistic about women's representation in tech improving, predicting that tech's gender imbalance will vanish in one generation.

    2. Too much focus on product and not on platforms

    "We frequently don't build the best technology platforms to tackle big social challenges, because often there is no immediate promise of commercial return," Schmidt wrote in his draft.

    "There are a million e-commerce apps but not enough speciality platforms for safely sharing and analyzing data on homelessness, climate change or refugees."

    Schmidt's omitted this mention of socially conscious tech from his final speech, but did say that he sees a lot of innovation coming out of network platforms, which allow people to connect and pool data, because "the barrier to entry for these startups is very, very low."

    3. Companies aren't partnering up early enough

    Finally, Schmidt wrote in his draft that tech startups don't partner enough with other companies in the modern, hyper-connected world. "It's impossible to think about any major challenge for society in a silo," he wrote.

    He said in his speech that tech firms have to be ready to partner "fairly early." He gave the example of a startup that wants to build homecare robots.

    "The market for homecare robots is going to be very, very large. The problem is that you need visual systems, and machine learning systems, and listening systems, and motor systems, and so forth. You're not going to be able to do it with three people," he said.

    After detailing his failures in tech entrepreneurship, Schmidt laid out what he views as the solution. He referred back to the Renaissance in Europe, saying people turned their hand to all sorts of disciplines, from science, to art, to business.

    "No one tried to put Leonardo da Vinci in a silo," he said.

    You can watch Schmidt's full lecture and Q&A here:

    SEE ALSO: Eric Schmidt takes the blame for Google's social networking failures: 'I suspect we didn’t fully understand how to do it'

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    NOW WATCH: After using Samsung Galaxy phones for 5 years, I made the switch to the iPhone XS


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    Britain's Prime Minister Theresa May holds a news conference at Downing Street in London

    • Members of Parliament will approve or reject Theresa May's Brexit deal on Tuesday, December 11.
    • The process, which will start with a gruelling five-day debate, will culminate in what is known as the "meaningful vote." 
    • May needs to win the historic vote.
    • If she doesn't, depending on the size of her defeat, all sorts of chaotic scenarios could come into play.
    • The prime minister could feel compelled to resign and a Tory leadership election would follow. She might ask the EU to extend the Article 50 process. There might be a general election.
    • A senior Tory MP told Business Insider momentum for a "People's Vote" would grow rapidly if the deal is rejected.

    LONDON — Theresa May has finally announced the date of the "meaningful vote" on Brexit, the momentous day in Parliament when MPs will approve or reject the deal she has spent the last two years negotiating in Brussels.

    Here's what is set to happen next.

    1. The government this week published a business motion confirming the timetable for the debate on the Withdrawal Agreement. This motion is expected to pass without too many complications.

    2. Assuming the business motion passes, MPs will begin a marathon five-day debate on the Withdrawal Agreement on Tuesday 4 December. Expect lots of Conservative MPs to stand up and say they don't think May's deal is very good. Expect even more Labour MPs to say the same. Expect Jeremy Corbyn to call for a general election.

    3. The five-day debate will conclude on Tuesday 11 December. The Speaker of the House of Commons John Bercow will then decide which amendments MPs can table to the main motion.

    This is crucial: MPs will be able to table amendments to the motion. May's team had previously indicated they would try to prevent this from happening, but they have now accepted doing to would be too difficult. This week a group of cross-party MPs led by Labour's Hilary Benn put down an amendment which would give MPs the power to say what steps the UK government should take if May's deal can't get through Parliament. Possible next steps include extending negotiations, a softer Brexit, or holding another referendum. Labour's Shadow Brexit Secretary, Sir Keir Starmer, has tabled one of his own which rejects May's deal and seeks to block a no deal Brexit. You can also expect amendments calling for a second referendum and for the UK to seek permanent customs union membership.

    This is also crucial: There probably isn't a parliamentary majority for most of the amendments. One senior Tory MP with intimate knowledge of the meaningful vote process told Business Insider they believed there simply wasn't a parliamentary majority for any major amendment, like a second referendum, if it is tabled. Parliament is too divided.

    "Whether there are amendments tabled is a matter for the house, and I'm by no means convinced there will be," the MP said. "The likelihood of there being an amendment that commands a majority in the Commons is small."

    However, the amendment tabled by Benn this week has attracted strong cross-party support, including the support of the Labour leader Corbyn, and will likely be backed by a number of pro-EU Conservative MPs.

    4. On December 11, the debate will wrap up and voting will commence. First, MPs will vote on any amendments to the motion. Then, they will vote on the motion itself. The motion will likely ask MPs to approve three things: a statement that an agreement has been reached, the withdrawal agreement, and the declaration on the future relationship.

    That is the big moment: The crunch vote which the prime minister is expected to lose.

    Why does any of this matter?

    Theresa May Ruth Davidson

    A different way of asking that question is: How meaningful is the meaningful vote?

    Well, it's meaningful in the sense that MPs will have five days to debate the contents of the Withdrawal Agreement and Political Declaration (the 26-page text outlining the shape of the future UK-EU relationship.) It is meaningful in the sense that MPs have to give parliamentary consent before May can enact her Brexit deal into legislation.

    The vote is not meaningful in the sense that as things stand, MPs won't be able to substantially change the deal.

    They can't table amendments demanding, for example, that May remove the backstop from the deal (there isn't a parliamentary majority for doing so anyway). And while there is more wiggle room for MPs to try and table amendments on the UK's future relationship with the EU, it's very unlikely any such major amendment would pass. May could even see her hand strengthened if she can prove that amendments on alternative Brexit plans don't command a majority in the house.

    If May wins? Legislation will be laid to put the Withdrawal Agreement into law very quickly. The UK would leave the EU on March 29, 2019. It's very unlikely.

    If May loses? Chaos. Depending on the size of her defeat, May could feel compelled to resign. ConservativeHome estimated on Friday that she could lose by a margin of up to 180 MPs. If she did resign, a Tory leadership election would follow. An extension to Article 50 could be required. A general election might be triggered.

    Momentum for a fresh Brexit referendum would grow rapidly. A minister in May's government told Business Insider that they'd come out in support for another referendum if the alternative was no deal — and that lots of Conservative MPs, including some in government, would do the same. Organisers of the People's Vote campaign have told Business Insider that they are in talks with up to 50 Conservative MPs who could possibly join of the movement.

    One senior Tory MP who campaigned for Remain told Business Insider: "The house can't be prevented from debating any motions they like [if May's deal is rejected]. During the course of those debates, it will become clear that there are a lot of MPs who want a second referendum," they said.

    "There will be at some point a vote where I hope parliament will indicate their preference for a public vote."

    Here's an illustration of the meaningful vote process.

    Brexit meaningful vote chart

    Read Business Insider's explainer on the full range of possibilities here.

    SEE ALSO: Jeremy Corbyn allies deny claim he is preparing to back a second Brexit referendum

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    Paul Krugman

    • There's a "real amnesia going on in the political sphere" that threatens the global economy ahead of the next financial crisis, according to the Nobel Prize-winning economist Paul Krugman.
    • In an exclusive interview with Business Insider, Krugman laid out what he thought was being overlooked and explained how those factors could come back to bite us in the next crisis.

    Paul Krugman does not know what exactly will cause the next financial crisis.

    When the professor and Nobel Prize-winning economist surveys the global economy, nothing looks quite as compelling as the housing bubble that helped jump-start the Great Recession about a decade ago.

    What does raise red flags, however, is an apparent forgetfulness of why the crisis struck in the first place. Krugman specifically pointed to the rise of shadow banking — or institutions that look like banks and function like them but are not regulated with the same scrutiny.

    After the most recent financial crisis, other economists pinpointed the loosely regulated market for repurchase agreements (short-term loans offered to institutional investors) as one of the main triggers.

    The topic arose again earlier this year when, before the 10th anniversary of the crisis, the Financial Stability Board — a regulatory watchdog for G20 countries — said its measure of shadow-banking activities rose 8% to $99 trillion. That made up about 30% of global financial assets and was the highest level since 2002.

    "The case for basically revitalizing the system of bank regulation to cover this broader financial universe is really strong," Krugman told Business Insider in an exclusive interview.

    "That's important because a lot of people are pushing really hard to take away the limited financial regulations that were in fact put in place ... It's this real amnesia going on in the political sphere."

    This is one of the lessons Krugman hopes to impart — especially to people who aren't economists — in a recently launched online course on economics for Masterclass.

    Another thing Krugman wants people to bear in mind is how certain swaths of the public reacted to the crisis. In his view, there were unfounded concerns that swirled around the stimulus measures that monetary authorities put in place to revive the economy, including the Federal Reserve's unprecedented bond purchases to suppress borrowing costs. This expansion will be the longest ever if it continues through July.

    Read more: GOLDMAN SACHS: The stock market will become a drag on the booming US economy in 2019, and there's one way traders can safeguard their portfolios

    "I hope we'll have less harassment of the Fed and other players when they try to deal with the [next] crisis," Krugman said. "We had an amazing amount of trying to stop them from doing what they could, which was limited by all these years of totally unwarranted fears of inflation."

    While the feared inflation did not materialize, there are other worries that now make the economy more vulnerable to the next crisis.

    "We are poorly prepared to deal with the next shock," Krugman said. "Interest rates are still close to zero in the US and in most of the rest of the advanced world. The fiscal policy we did was badly handled in the aftermath of the 2008 crisis, and there's no particular reason to think it will be better. In fact, there's good reason to think it will be worse."

    That's not all. The trade war between the US and China persists, with investors eagerly awaiting the outcome of expected talks at the G20 meeting this week between President Donald Trump and Chinese President Xi Jinping.

    Krugman, who won the Nobel Memorial Prize in Economic Sciences for his work on international trade, said the two countries were in danger of throwing away frameworks that successfully governed exchanges between countries for years.

    "'If I sell to you, I win, and if I buy from you, I lose' is a really wrong way to look at things," he said.

    Still, Krugman declined to pin the cause of the next crisis on trade disruptions, Fed policy, deregulation, or any other specific catalyst. He said that while most people — even those of his pedigree — were bad short-term forecasters, it shouldn't stop them from trying to understand and mitigate the inevitable next shock.

    "The tragedy of all this is that we actually had the knowledge and we had the tools to make this a much less severe crisis than it actually turned out being," Krugman said.

    SEE ALSO: The world's most accurate economic forecaster pinpoints the biggest risks investors will face in 2019 — and explains how they can prepare

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    NOW WATCH: This mind-melting thought experiment of Einstein's reveals how to manipulate time


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    cancer cells

    • The FDA on Monday approved a new cancer treatment in an unconventional way: not by tumor type, but rather by the genetic mutation the drug targets. 
    • The drug, Vitrakvi, was developed by Loxo Oncology in partnership with pharma giant Bayer. 
    • It's only the second time the FDA has approved a cancer drug's use based on a certain mutation rather than a particular tumor type. 

    The Food and Drug Administration on Monday took an unconventional approach to approving a new cancer drug. 

    The drug, Vitrakvi, was developed by Loxo Oncology. It's the company's first drug to get approved.

    Loxo's approach is to develop drugs that act on cancerous genetic mutations rather than the type of cancer a person has. For example, Vitrakvi, has been tested in patients with lung, colon, breast and thyroid cancer among others.

    The drug comes with a high price tag of $393,000 a year. Bayer said in a statement that there's between 2,500 and 3,000 new patients with this mutation a year. The company set a lower price of $132,000 a year for the liquid form used in pediatric cases. Bayer said it will offer financial assistance to help patients afford the drug, reducing the out-of-pocket cost to $20 a month for most patients.

    "Today’s approval marks another step in an important shift toward treating cancers based on their tumor genetics rather than their site of origin in the body," FDA Commissioner Scott Gottlieb said in a news release Monday. 

    In 2017, the drugmaker struck a $1.5 billion deal with pharma giant Bayer to commercialize and develop two of Loxo's drugs, including Vitrakvi. 

    Targeting a genetic mutation instead of cancer type

    Building a treatment that's specific to a genetic mutation is a new approach to treating cancer. Most companies develop treatments for specific types of cancer, like lung cancer or melanoma, and seek approval just for that one kind of tumor at first, before setting up more trials to see how the drug does in other types of cancer.

    Scientists have seen genetic patterns across cancer types for years, but the topic started attracting more attention in 2013 after the discovery that endometrial cancer was genetically similar to forms of ovarian and breast cancer.

    In May 2017, the FDA approved a drug based on genetics rather than tissue type for the first time, paving the way for others including Loxo.

    Loxo's drug works in cancer patients with a mutation called a "TRK gene fusion."

    The company had seen promising results in its human trials. In a recent presentation at the European Society for Medical Oncology, Loxo said that out of 109 patients, 81% had an overall response rate, meaning their tumors shrank. In 17% of the cases, the patients had a complete response, meaning their tumors went away entirely. 

    See also: 

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    NOW WATCH: There's so much CO2 in the atmosphere that planting trees can no longer save us


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    ubiome 3

    • I tried an at-home gut-microbiome test kit made by the Silicon Valley startup uBiome.
    • Since being founded in 2012, uBiome has raised nearly $110 million and rocketed from a citizen science project to a key player on the life science venture scene.
    • Having experienced minor digestive issues for years, I hoped to learn more about the gut bacteria thought to play a role in everything from our mental health to our ability to process fat and gluten.
    • What I learned about my so-called forgotten organ shocked me.

    If you've ever taken a probiotic, eaten yogurt, or added pickles to your sandwich, you've taken a step toward nourishing the vital community of life in your gut collectively known as your microbiome.

    In recent years, scientists have described the microbiome as the "forgotten organ," thanks to its emerging role in affecting everything from your mood to your risk of disease.

    The communities of bacteria living in our guts and elsewhere are thought to influence everything from our mental health to our ability to process fat and gluten.

    So when I recently got the chance to try a microbiome testing kit at home for free, I took it. Called the "Explorer," my kit was made by uBiome, a Silicon Valley startup. Since its founding in 2012, uBiome has raised nearly $110 million in funding and transformed from a citizen science project to a key player on the life science venture scene.

    Investors call uBiome a game-changer. Before the company, we had virtually no central repository for data on the microbiome — data that could ultimately lead to new treatments for deadly diseases.

    "We will look back and say, 'I can't believe we lived our lives without this knowledge,'"Bryan Johnson, the cofounder of a venture firm called OS Fund that led uBiome's latest funding round, told Business Insider.

    My uBiome test results came with a significant surprise. Here's what the experience was like.

    SEE ALSO: A startup helping us better understand the bugs that live in us raised $83M to start developing treatments for diseases like cancer

    DON'T MISS: 40 AND UNDER: The Silicon Valley biotech stars who are backing startups aiming to cure disease, prolong life, and fix the food system

    Jessica Richman founded uBiome as a citizen science project in 2012. Since then, her company has quietly risen to prominence. Investors think uBiome's data could be used to design new drugs for things like autoimmune diseases and cancer.

    Richman created uBiome with crowdfunding nearly six years ago, in 2012, the same year that a huge government research initiative focused on the microbiome ended. The Human Microbiome Project's purpose was to study the diverse communities of microbes living in and on our bodies and learn what roles they play in health and disease.

    But Richman didn't want to wait years to see those results turn into real products for people.

    "I couldn't miss the opportunity to be a part of the beginning of the microbiome revolution," Richman told Y Combinator, a startup hub that backed uBiome, in 2014.

    This September, her company raised $83 million in a funding round that transformed it into a key player on the life science venture scene. Hundreds of thousands of customers have since had their microbiomes sequenced by uBiome researchers, and the company hopes that data can offer the first concrete insights into how microbes affect our health.

    "uBiome basically invented the category of the microbiome," Johnson said. "What if we could understand this thing that is such a big component of what makes us who we are?"



    So far, uBiome has collected microbiome samples from 250,000 customers, Richman told Business Insider in September. She aims to reach 1 million samples by 2019, she said.



    I got a free uBiome test kit at an event organized by the Silicon Valley venture firm Rock Health. At $89, the kit the most basic version of the three tests uBiome offers. The others require a physician to sign off.

    Having experienced mild digestive issues for years, I was excited to learn more about how the bacteria in my gut were faring. Would I learn more about what was causing my occasional bloating, cramps, and indigestion? Or walk away from the test more confused than before?



    See the rest of the story at Business Insider

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    This is a preview of the Internet of Things (2018) research report from Business Insider Intelligence. To learn more about the IoT ecosystem, tech trends and industry forecasts, click here.

    The Internet of Things (IoT) is transforming how companies and consumers go about their days around the world. The technology that underlies this whole segment is evolving quickly, whether it’s the rapid rise of the Amazon Echo and voice assistants upending the consumer space, or growth of AI-powered analytics platforms for the enterprise market.

    Investments into Internet of Things solutions

    And Business Insider Intelligence is keeping its finger on the pulse of this ongoing revolution by conducting our second annual Global IoT Executive Survey, which provides us with critical insights on new developments within the IoT and explains how top-level perspectives are changing year-to-year. Our survey includes more than 400 responses from key executives around the world, including C-suite and director-level respondents.

    Through this exclusive study and in-depth research into the field, Business Insider Intelligence details the components that make up the IoT ecosystem. We size the IoT market and use exclusive data to identify key trends in device installations and investment. And we profile the enterprise and consumer IoT segments individually, drilling down into the drivers and characteristics that are shaping each market.

    Here are some key takeaways from the report:

    • We project that there will be more than 55 billion IoT devices by 2025, up from about 9 billion in 2017.
    • We forecast that there will be nearly $15 trillion in aggregate IoT investment between 2017 and 2025, with survey data showing that companies' plans to invest in IoT solutions are accelerating.
    • The report highlights the opinions and experiences of IoT decision-makers on topics that include: drivers for adoption; major challenges and pain points; deployment and maturity of IoT implementations; investment in and utilization of devices; the decision-making process; and forward- looking plans.

    In full, the report:

    • Provides a primer on the basics of the IoT ecosystem.
    • Offers forecasts for the IoT moving forward, and highlights areas of interest in the coming years.
    • Looks at who is and is not adopting the IoT, and why.
    • Highlights drivers and challenges facing companies that are implementing IoT solutions.

    Join the conversation about this story »


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    Tesla Model S P100D

    • Police in the Northern California town of Redwood City arrested a man they found sleeping behind the wheel of his Tesla Model S as it drove down a highway early Friday morning.
    • The electric luxury sedan had been traveling south on Highway 101, going about 70 mph, California Highway Patrol Officer Art Montiel told Business Insider.
    • Montiel said officers believed the Tesla was operating on Autopilot because the driver, Alexander Samek, did not respond to their lights and sirens when they tried to pull the vehicle over.
    • Police stopped traffic behind the Tesla while another officer traveling in front of the car gradually slowed down, forcing the semi-autonomous sedan, which can respond to varying traffic speeds and accelerate or slow down accordingly, to a complete stop.

    Police in the Northern California town of Redwood City arrested a man who was traveling on Highway 101 early Friday morning while sleeping behind the wheel of his Tesla Model S.

    Officers first spotted the electric luxury sedan driving south at about 70 mph around 3:40 a.m., California Highway Patrol Officer Art Montiel told Business Insider on Friday night.

    Montiel said the officers took action when it became clear that the driver, 45-year-old Alexander Samek, was sleeping.

    "The driver wasn't responding to lights and sirens," Montiel said.

    The officers believed the Tesla may have been operating on Autopilot, a semi-autonomous-driving feature that allows Teslas to drive and change lanes in traffic with minimal human input.

    In order to get the sleeping driver's Tesla to stop, Montiel said officers blocked traffic behind the vehicle while another officer traveling in front of the car gradually slowed down, forcing the Tesla, which can respond to varying traffic speeds and accelerate or slow down accordingly, to a complete stop.

    "Once the vehicle came to a stop, the officers got out of their patrol cars, approached the Tesla, and knocked on the windows to wake up the driver," Montiel said.

    Officers placed Samek in a patrol car, while another one drove the intoxicated man's Tesla off the freeway and parked it at a nearby gas station.

    Samek was arrested on suspicion of driving under the influence. Montiel applauded the CHP's "quick thinking" to get the Tesla and its driver out of harm's way.

    Several Teslas have crashed while operating on Autopilot in recent months. A man was killed when his Model X SUV slammed into a highway barrier in Mountain View, California, in March.

    Teslas equipped with Autopilot cannot drive themselves. The system deploys an escalating series of warnings if it detects that the driver does not have their hands on the steering wheel. If the driver does not respond, the system deactivates itself.

    Tesla declined to comment on the incident.

    SEE ALSO: Tesla vehicles have racked up one billion miles driven on Autopilot

    DON'T MISS: 32 electric cars you'll see on the road by 2025

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    NOW WATCH: This mind-melting thought experiment of Einstein's reveals how to manipulate time


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    trump xi jinping

    • President Donald Trump attended a formal dinner with Chinese President Xi Jinping at the G20 summit in Buenos Aires, Argentina on Saturday.
    • The leaders, flanked by their top officials, were served a three course meal that was accompanied with Argentinian wines. 

    President Donald Trump attended a formal meeting with Chinese President Xi Jinping at the G20 summit in Buenos Aires, Argentina on Saturday. 

    The formal meeting has been a closely watched event leading up to the summit, as it could influence US-China trade relations. The results of the meeting may ultimately resolve differences and lower tariffs that affect more than half of all trade between the US and China.

    According to the dinner menu released by the White House, the sirloin might be a close-enough substitute for well-done steaks and meatloaf — foods that Trump is reportedly fond of.

    In their remarks before dinner, Trump and Xi spoke at a table covered in white plates, white tablecloth, and yellow and red flowers.

    Here's what was on the menu for the formal dinner: 

    First course: An Argentinian Chardonnay accompanied a seasonal vegetable salad with basil mayonnaise dressing and a parmesan emulsion. 

    Main course: Grilled sirloin with red onions, goat ricotta, and dates that was paired with a 2014 Malbec. 

    Dessert: Caramel rolled pancakes, crispy chocolate, and fresh cream. 

    SEE ALSO: Trump is about to embark on a trip that could end the trade battle with China — or plunge the US into an economic Cold War

    DON'T MISS: Here's a glimpse at Trump's decades-long history of business ties to Russia

    Join the conversation about this story »

    NOW WATCH: The Obamas are worth $40 million — here's how they make and spend their money


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