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The latest news from Business Insider

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    larry ellison elon musk

    • Tesla and Larry Ellison have confirmed via a new SEC filing that Ellison owns 3 million shares, which are worth about $1 billion.
    • The filing was necessary because Ellison agreed last week to join Tesla's board.
    • Tesla did not say when Ellison bought the shares, except that it was earlier this year.
    • However Ellison disclosed he had made a sizable investment back in October, the month when Tesla dropped near 52-week lows.


    On Monday, Tesla and Larry Ellison officially reported and confirmed Ellison's precise stake in the company via an SEC filing:  3 million shares.

    When Tesla announced last week that it had landed Larry Ellison as one of two new board members, the company said that he had been a believer in the company who had purchased the 3 million shares sometime earlier this year.

    The filing didn't say when Ellison had bought in but at Tesla's current share price, of about $334, that stake is worth about $1 billion. And back in October, months before the board position was announced, Ellison revealed his stake. At that time, he said Tesla was his second-largest investment.

    Read: Leaked Uber employee survey shows what it's really like to work at the company ahead of its massive IPO: Read the full survey results here

    October was when Tesla was trading near its 52-week low, at around $250 share. That was shortly after CEO Elon Musk was slapped by the SEC over his infamous "funding secured" tweet and when investors were biting their nails over Tesla's looming need for $1 billion in cash to make a debt payment.

    An outpouring of good news from the company since late October, including a profitable quarter, has since eased investors concerns and sent the stock soaring.

    We don't know how much Ellison paid for his stake, but if he bought in at that low point at about $250 a share, he would have already made around $250,000. While that's pocket change for Ellison, the seventh richest man in the world worth an estimated $51 billion, it probably didn't hurt when convincing Ellison to join Tesla's board.

    It will be interesting to watch how the relationship between the two men develop. Both of them are strong willed and used to being the boss. Most of Ellison's other board positions have been on companies where he was a founding investor. Some of them didn't go well. For instance, Ellison's protege, Salesforce CEO Marc Benioff, famously kicked Ellison off Salesforce's board after Ellison's company, Oracle, began to compete with Salesforce. On the other hand, Ellison was also close friends with the famously strong-willed Steve Jobs and served on Apple's board. The two never competed in business and their friendship stayed intact.

    Ellison is known to respect and befriend other tough and like-minded entrepreneurs. He revealed his stake in October while he was publicly defending Musk after Musk came under fire for some controversial tweets. 

    And Ellison has a personal interest in sustainable energy and sustainable business, which coincides with Tesla's mission. When Ellison bought the Hawaiian island of Lanai in 2012, he said his goal was to turn the island into a "model for sustainable enterprise," using all the latest,eco-friendly technology for power and organic farming. Lanai has a large solar farm and last year, Ellison opened a high-tech indoor hydroponic organic farm.

    SEE ALSO: Uber employees describe a stressful and 'ridiculous' culture at the self-driving-car unit under its current leader, Eric Meyhofer

    Join the conversation about this story »

    NOW WATCH: I'm a diehard iPhone user who switched to Android for a week — here's what I loved and hated about the Google Pixel 3 XL

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    Amazon CEO Jeff Bezos and his wife, MacKenzie Bezos, arrive for the Axel Springer award ceremony on April 24, 2018 in Berlin. Bezos will be receiving the award later.

    • Amazon could soon have a large new individual shareholder in MacKenzie Bezos as a result of her divorce from her husband, Jeff Bezos, the company's CEO.
    • On Thursday TMZ reported that the couple did not have a prenuptial agreement, citing "sources with direct knowledge" of the situation.
    • Jeff Bezos owns 16% of the e-commerce giant, and MacKenzie Bezos could be entitled to up to half of those shares, which would give her one of the two largest stakes in the company.
    • Though Jeff Bezos is worth $137 billion on paper, nearly all of the Bezoses' assets are in the form of Amazon stock.
    • They live in, and are likely to file for divorce in, Washington, a community-property state, which could give her a claim to a sizable portion of their wealth. But it's unclear exactly how much Amazon stock she'll end up with.

    Jeff Bezos may soon have someone familiar looking over his shoulder when it comes to running Amazon and having a substantial say about it: his soon-to-be ex-wife.

    Jeff and MacKenzie Bezos announced Wednesday that they planned to divorce after more than 25 years of marriage.

    Because nearly all of his $137 billion net worth is in the form of his stock in Amazon, it's highly likely she will end up with a substantial stake in the company as part of any separation agreement.

    On Thursday, TMZ reported that the couple did not have a prenuptial agreement, citing "sources with direct knowledge" of the situation.

    If that's the case, there's a good chance that MacKenzie Bezos could end up having the biggest stake in the company other than Jeff Bezos.

    "One would think so," said Ira Garr, a family-law attorney in New York who represented Rupert Murdoch and Ivana Trump in their respective divorce cases. "I can't see anywhere else the settlement could come from."

    Read this: Jeff and MacKenzie Bezos may split his $137 billion fortune in half when they divorce — here's what typically happens when billionaires break up

    Jeff Bezos owns about 79 million shares of Amazon's stock, worth about $130 billion. The shares give him a 16% stake in the company, making him by far its largest shareholder. The second largest is Vanguard, which had about 6% of Amazon's shares as of last February.

    Should Jeff Bezos have to give half of his shares to MacKenzie Bezos — a not unthinkable outcome, especially if they didn't have a prenup — her 39 million or so shares would give her an 8% stake in the company and vault her over Vanguard.

    Though she could opt for cash instead — which would force Jeff Bezos to sell off tens of millions of shares — or immediately turn around and sell the shares herself, it's likely she'll choose to hold on to her shares instead, legal experts said.

    If MacKenzie Bezos chose to sell — or forced Jeff Bezos to — "the stock would go way down," Garr said.

    MacKenzie Bezos is likely to benefit from Washington state law

    The reasons MacKenzie Bezos could end up with such a huge stake in Amazon have a lot do with where the Bezoses' divorce proceedings are likely to occur.

    Though the Bezoses have dwellings in different areas of the country, they're likely to file for divorce in Washington state, legal experts said. They have a home in the Seattle area, where Amazon has its headquarters, and have lived there for most of their marriage, said Deirdre Bowen, an associate professor of law at Seattle University's School of Law.

    Amazon holiday"Washington seems to be the most logical place" for the divorce proceedings, Bowen said.

    That's important, because it would mean that Washington law would govern the dissolution of the Bezoses' marriage.

    Washington is a community-property state; generally, assets acquired during a marriage are considered jointly held by the two parties. In the case of a divorce, those community assets have to be divvied up between the spouses.

    Community-property law works a little bit differently in Washington than in other parts of the country. Unlike states such as California, Washington doesn't require community assets to be divided evenly between the parties, legal experts noted.

    But in the Bezoses' case, where the two have been married for a long time and the founding of Amazon took place after they got married, it's likely that's where a court would end up, said James Spencer, an adjunct professor at Seattle University's law school and an attorney with Brothers & Henderson.

    "Considering the totality of the circumstances (as are publicly known), I think it more likely than not that a court would divide the stock roughly in half," Spencer said.

    Jeff and MacKenzie Bezos will most likely settle out of court

    Legal experts such as Spencer, though, don't expect the Bezoses' case to end up being decided by a judge. Instead, they expect the two to reach a settlement out of court, whether through negotiations between themselves or among their lawyers, or through arbitration proceedings. So Washington's community-property law may not have a direct effect on the divorce's outcome.

    But it's likely that MacKenzie Bezos will use it — and the assumption that she should get half of the couple's community assets — as a starting point for negotiations, Bowen said.

    "She can go in and tell her attorney ... to work with the assumption that it's going to be 50-50," she said.

    To be sure, MacKenzie Bezos could end up with a far smaller stake in Amazon than half of Jeff Bezos' current holdings. If they signed a prenup or a postnuptial agreement, for example, such a contract could severely limit her claims on his shares of the company.

    Amazon representatives did not respond to an email inquiry about whether the Bezoses had such an agreement, but TMZ reported on Thursday that the couple had not.

    They could fight over what she's entitled to

    Another complicating factor is how negotiators for the two parties — and potentially an arbiter or a judge — classify Jeff Bezos' stock holdings. Though assets acquired in marriage or the amount by which they appreciate are generally considered community property, courts can make a distinction between passive and active appreciation of assets, Bowen said.

    Jeff Bezos could argue that the massive increase in the value of his Amazon stock was largely due to his personal active management of the company and had nothing to do with MacKenzie Bezos. Should he take that stance and have it affirmed by a judge or an arbiter, MacKenzie Bezos could end up with a much smaller stake in Amazon than she might otherwise.

    He could argue his Amazon stake "should remain mine," Bowen said.

    The outcome of the case also will hinge in large part on Jeff's and MacKenzie's mental and emotional states going into it. In their joint statement announcing the divorce, the two portrayed their parting as amicable. But late Wednesday, reports in the New York Post and the National Enquirer charged that Jeff Bezos had been having an affair with Lauren Sanchez, a former TV anchor, which could indicate their separation wasn't all that friendly.

    If there's rancor involved, it could have a major effect on what each party will demand and settle for, Bowen said.

    new shepard reusable rocket launch 2016 blue origin

    "The wild card here is I don't know the psychology each party has going into this divorce," Bowen said.

    MacKenzie Bezos could end up demanding a large cash payout, she said.

    "I don't think she's an unreasonable person, so I don't see that happening," Bowen said. But, she added, MacKenzie Bezos could say in the proceedings something like: "Why would I want Amazon stock when you're controlling it? I want you removed from my life."

    And there's another potential wrinkle. Amazon's board and Jeff Bezos may be uncomfortable and unwilling to hand over that much of the company's stock to MacKenzie Bezos, particularly if the two are at odds. He or the board may push to limit her ownership, either by having Jeff Bezos sell shares and give her stake in cash or by giving her other assets, such as his ownership of The Washington Post or his rocket company, Blue Origin, instead.

    "With someone who is as closely associated to his brand as Jeff Bezos, it may be that he will refuse a settlement that gives his ex-wife that much Amazon corporate power," said Terry Price, a family law professor at the University of Washington's School of Law.

    SEE ALSO: Amazon Web Services could be worth $600 billion by itself. Here's why Wall Street analysts think a spinoff won't happen any time soon.

    Join the conversation about this story »

    NOW WATCH: Jeff Bezos is worth over $100 billion — here's how the world's richest man makes and spends his money

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    Mark Zuckerberg

    • Former Facebook employees reportedly blamed the company's stack rank review process for creating a "cult-like" culture where they felt the need to appear happy in an attempt to win favor with colleagues.
    • On Wednesday, former Facebook employees provided more detail about the review process to Business Insider. 
    • They said that receiving two consecutive reviews of "meets most" expectations — which is equivalent to a "B" grade — would ultimately result in an employee being fired. 
    • "A lot of people I know got canned. You got to understand the game of it," one former employee told us. 

    Getting a "B" on a report was a respectable grade to bring home for a lot of kids growing up.

    But apparently, the above average mark is not good enough at Facebook, where the company stack ranks employees and terminates those not among the top performers. 

    Former Facebook employees told Business Insider on Wednesday that receiving two consecutive reviews of "meets most" expectations — which they say is equivalent to a "B" grade — would ultimately result in an employee being fired. 

    “Everything is quantified, and you’re measured against everyone to a number," one former Facebook employee told Business Insider. "If you get 'meets most' expectations two times, then you’re going to be canned in a couple of months. A lot of people I know got canned. You got to understand the game of it, but for me, the culture was unsustainable.”

    The former employees clarified that receiving the "meets most" mark was not grounds for firing alone, rather it put employees on a performance improvement plan (PIP) that ultimately lead to one's termination. 

    "I’ve never met anyone that's received two ['meets most' reviews] in a row that has continued on at Facebook," another former employee told us. 

    Facebook disputes the characterization of its process as stack ranking, a spokesperson told Business Insider. The spokesperson also denied that two consecutive “meets most” reviews result in a performance improvement plan for employees.

    'Meets most' means underperformance

    On Tuesday, CNBC reported that former Facebook employees blamed the company's stack rank review process for creating a "cult-like" atmosphere where workers felt the need to appear happy in order to win favor with colleagues. The perception and feedback of colleagues is an important piece of Facebook's twice-yearly peer reviews. 

    "It's a little bit of a popularity contest," one former employee told CNBC. "You can cherry-pick the people who like you — maybe throw in one bad apple to equalize it."

    Read more:Former Facebook employees reportedly say the corporate culture is like a cult where you have to be happy all the time

    During the review process, once peer feedback is collected employees are ranked and assigned a grade by management. Only a certain percentage of employees can receive each grade, so managers must advocate for their direct reports to receive the highest marks. 

    According to the CNBC report, grades at Facebook range from "meets some" expectations (which are rare because most people are fired before receiving this grade) to "redefine" (which is the top mark, given to only 5% of employees). The "meets most" mark is considered a lower grade at Facebook and puts future employment at risk, according to the report. 

    Management guru and former General Electric CEO Jack introduced the stack rank system in the 1980s. Since then, the system has found favor amongst the tech companies like IBM, Yahoo, and Amazon — but not without its share of controversy. 

    Microsoft, for instance, used stack-ranking until 2013, when it found the system to hurt innovation and was detrimental to employee morale.

    SEE ALSO: 33 of the best and wackiest photos from the biggest tech convention of the year

    Join the conversation about this story »

    NOW WATCH: 7 science-backed ways to a happier and healthier 2019 that you can do the first week of the new year

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    immigration detention center detainees human rights 3

    • President Trump claimed in a Sunday tweet that thousands of undocumented immigrants in Texas jails had "committed sexual crimes against children," which he used to push for a US-Mexico border wall.
    • The Texas Department of Public Safety did not immediately return Business Insider's request for comment, but reports contradict Trump's portrayal of undocumented immigrants as driving US crime. 
    • Trump pushed for a government shutdown to fund his proposed border wall. The partial shutdown has become the longest in US history

    In pushing for a wall between on the US-Mexico border, President Donald Trump has repeatedly sought to portray undocumented immigrants as a cause of US crime. 

    The latest effort came in a series of tweets over the weekend, including one on Sunday in which the president said thousands of undocumented immigrants "who have committed sexual crimes against children are right now in Texas prisons" and that most had traveled through the US's southern border.

    A report from the right-leaning think tank the Cato Institute based on data from Texas found that fewer undocumented immigrants were convicted of sex crimes than native-born Americans, at an about 8% lower rate, based on 2015 data. 

    Broadly, "conviction and arrest rates for illegal immigrants were lower than those for native-born Americans," the report, which was issued in late February of 2018 and updated in August, found. "This result holds for most crimes." 

    Sex crime conviction rates by immigration status in Texas: Cato Institute

    Other analyses have had similar findings.

    An article published in the peer-reviewed journal Criminology last year found that where there are more undocumented immigrants in a state, it is linked with "significant decreases" in violence. The data the study relied on included crimes that were and were not reported to the police, and defined violence as rape or sexual assault, among other things.

    NEW violent crime rates decline as immigration rates rise charts

    The Texas Department of Public Safety and an official named John Jones, its division director of intelligence and counter terrorism, who Trump named in his Sunday tweet, did not immediately return Business Insider's request for comment.

    In a meeting with Trump Friday, Jones said"In the last 7 years (in Texas), we have over 4,000 people incarcerated that are illegal aliens in Texas jails for sexual assault. The sad thing is 62% of them are sexual assault against children."

    If Jones' numbers are correct, the "thousands" that Trump referenced in his tweet are 2,480 to be exact.

    The department doesn't generally release numbers of prisoners, an individual at one of its divisions said. 

    The president's latest tweets come as the ongoing partial US government shutdown officially becomes the longest in the country's history. Trump's insistence on funding for the wall has been the force behind the shutdown. 

    Read more: The government shutdown enters a record 22nd day as Trump, Democrats continue to battle over the border wall and 800,000 workers go without pay

    Trump has used similarly misleading, anti-immigrant rhetoric before, Business Insider has previously reported.

    Another tweet from Trump on Saturday about undocumented immigrants and crime used statistics that were "either exaggerated or omitted important context," the New York Times reported.

    The Times report pointed to data from Texas showing that of undocumented immigrants who were arrested in the state between mid-2011 and the end of 2018, 3,428 were charged with sexual assault and 2,152 with sexual offenses.

    However, there have been fewer convictions, the Texas data shows, with 1,689  of those accused of sexual assault actually being convicted, and 1,148 sexual offense convictions. The report does not make any specific allegations of sexual crimes against children. 

    Data aggregated by the Texas Tribune shows that in total, 16,287 Texas inmates that have been convicted of aggravated child sexual assault. 11,093 inmates have been convicted of indecent child sexual contact. The Tribune data did not break down the convictions by immigration status.

    Join the conversation about this story »

    NOW WATCH: North Korea's leader Kim Jong Un is 35 — here's how he became one of the world's scariest dictators

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    AI Drive Revenue

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

    Major logistics providers have long relied on analytics and research teams to make sense of the data they generate from their operations.

    But with volumes of data growing, and the insights that can be gleaned becoming increasingly varied and granular, these companies are starting to turn to artificial intelligence (AI) computing techniques, like machine learning, deep learning, and natural language processing, to streamline and automate various processes. These techniques teach computers to parse data in a contextual manner to provide requested information, supply analysis, or trigger an event based on their findings. They are also uniquely well suited to rapidly analyzing huge data sets, and have a wide array of applications in different aspects of supply chain and logistics operations.

    AI’s ability to streamline so many supply chain and logistics functions is already delivering a competitive advantage for early adopters by cutting shipping times and costs. A cross-industry study on AI adoption conducted in early 2017 by McKinsey found that early adopters with a proactive AI strategy in the transportation and logistics sector enjoyed profit margins greater than 5%. Meanwhile, respondents in the sector that had not adopted AI were in the red.

    However, these crucial benefits have yet to drive widespread adoption. Only 21% of the transportation and logistics firms in McKinsey’s survey had moved beyond the initial testing phase to deploy AI solutions at scale or in a core part of their business. The challenges to AI adoption in the field of supply chain and logistics are numerous and require major capital investments and organizational changes to overcome.

    In a new report, BI Intelligence, Business Insider's premium research service, explores the vast impact that AI techniques like machine learning will have on the supply chain and logistics space. We detail the myriad applications for these computational techniques in the industry, and the adoption of those different applications. We also share some examples of companies that have demonstrated success with AI in their supply chain and logistics operations. Lastly, we break down the many factors that are holding organizations back from implementing AI projects and gaining the full benefits of this disruptive technology.

    Here are some of the key takeaways from the report:

    • The current interest in and early adoption of AI systems is being driven by several key factors, including increased demands from shippers, recent technological breakthroughs, and significant investments in data visibility by the industry’s largest players.
    • AI can deliver enormous benefits to supply chain and logistics operations, including cost reductions through reduced redundancies and risk mitigation, improved forecasting, faster deliveries through more optimized routes, improved customer service, and more.
    • Legacy players face many substantial obstacles to deploying and reaping the benefits of AI systems, though, including data accessibility and workforce challenges.
    • AI adoption in the logistics industry is strongly skewed toward the biggest players, because overcoming these major challenges requires costly investments in updating IT systems and breaking down data silos, as well as hiring expensive teams of data scientists.
    • Although AI implementations are unlikely to result in large-scale workforce reductions in the near term, companies still need to develop strategies to address how workers' roles will change as AI systems automate specific functions.

     In full, the report:

    • Details the factors driving adoption of AI systems in the supply chain and logistics field.
    • Examines the benefits that AI can deliver in reducing costs and shipping times for supply chain and logistics operations.
    • Explains the many challenges companies face in implementing AI in their supply chain and logistics operations to reap the benefits of this transformational technology.

    Interested in getting the full report? Here are two ways to access it:

    1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >>Learn More Now
    2. Purchase & download the full report from our research store. >> Purchase & Download Now

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    steve king

    • Several top Republicans have condemned Iowa Rep. Steve King's latest inflammatory comments about race.
    • In an interview with the New York Times published last week, King asked why terms like white supremacy and white nationalism had "become offensive."
    • In a promise for a strong response to the comments, House Minority Leader Kevin McCarthy promised that "action will be taken" to reevaluate the congressman's place in the Republican party. 

    Several top Republicans have condemned recent comments from Iowa Rep. Steve King in which he asked why terms like white supremacy and white nationalism had "become offensive."

    "White nationalist, white supremacist, Western civilization — how did that language become offensive?" King told The New York Times in an interview published last week. "Why did I sit in classes teaching me about the merits of our history and our civilization?"

    The comments are the latest in King's controversial record of rhetoric that seems to support extreme ideologies on the right, openly connecting with white supremacist and neo-Nazi figures and displaying the Confederate battle flag on his congressional office desk.

    House Minority Leader Kevin McCarthy promised that "action will be taken" on behalf of the party in response to the comments. 

    "I'm having a serious conversation with Congressman Steve King on his future and role in this Republican Party," McCarthy said on CBS' "Face the Nation.""I will not stand back as a leader of this party, believing in this nation that all are created equal, that that stands or continues to stand and has any role with us."

    McCarthy's was the sharpest warning to King, whose comments Sen. Ted Cruz called "stupid,""hurtul," and "wrong."

    “What Steve King said was stupid. It was stupid, it was hurtful, it was wrong. And he needs to stop it," Cruz said during an interview on NBC's "Meet the Press."

    "All of us ought to be united regardless of party in saying white supremacism, white nationalism is hatred, it is bigotry, it is evil, it is wrong," Cruz continued.

    House Minority Whip Rep. Steve Scalise began what has become an ongoing discussion among Republicans in Congress, saying, "there is no place for hate, for bigotry or anybody who supports that ideology." 

    Read more: Republicans and high-profile donors are suddenly abandoning Steve King after years of racial insensitivity

    King has long denied being a racist, and issued a statement following the publication of The Times story on Thursday in which he said he "reject[s] those labels and the ideology that they define." He argued he is "simply a Nationalist" and "an advocate for Western Civilization's values."

    Though Sen. Lindsey Graham objected to King's comments, he offered a more muddled response, pointing to King's offered clarification among the terms. 

    "All I can say is that his view of white supremacy and mine are different," Graham told reporters in South Carolina Friday. "He says he’s not a racist. I know Steve. He’s apologized."

    Graham continued: "But, at the end of the day, it’s just perplexing in 2019 somebody could be confused about what these terms are associated with."

    Beyond the response from his Republican colleagues, King is facing the threat of censure from the Democratic-controlled House.

    SEE ALSO: In a call to Jeanine Pirro, Trump dodged a question on whether or not he had ever worked for Russia

    DON'T MISS: Americans blame Trump for the government shutdown over a border 'crisis' that they don't see, according to polls

    Join the conversation about this story »

    NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'

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    rich people group

    • Building wealth isn't a sole effort.
    • According to Chris Hogan, an author who studied more than 10,000 millionaires, most millionaires had four key relationships that helped them reach a seven-figure net worth.
    • If you want to be a millionaire, you should have a coach, mentor, cheerleader, and friend in your life.

    Becoming a millionaire requires teamwork.

    According to Chris Hogan, author of "Everyday Millionaires: How Ordinary People Built Extraordinary Wealth — and How You Can Too," you can't build wealth without a bit of help along the way. 

    In partnership with the Dave Ramsey research team, Hogan studied 10,000 American millionaires (defined as those with a net worth of at least $1 million) for seven months — and he found they achieved their seven-figure status with four key relationships.

    Here's a closer look at each.

    1. A coach

    "This is someone who stands on the sidelines and challenges you to keep making progress," Hogan wrote. "When you fall, this is the voice you hear yelling at you to get up."

    Hogan himself credits the athletic, business, and financial coaches he's had throughout his life with shaping him into the person he's become.

    Daniela Corrente, CEO and founder of personal finance app Reel, can testify to the importance of having a coach. She told Business Insider the smartest move she's made in her career so far is hiring a business coach, who she meets with once a week to discuss hiring strategy, fundraising, and establishing company values.

    "I know plenty of successful people that use a coach, they just don't necessarily admit it or say it out loud," she said.

    Read more: Most people believe 6 myths about millionaires, and it can keep them from building their own wealth

    2. A mentor

    In Hogan's study, 86% of millionaires reported actively receiving mentor advice.

    "[A mentor] is someone who has done what you want to do," he wrote. "They're on the same journey but they're a few miles ahead of you."Hogan suggests not overthinking your mentor strategy — stay on the lookout for someone you trust and take them out to coffee every few months, he said.

    "Save up some questions over time so you can have a deep, meaningful conversation when you meet," he wrote. "Ask them their stories, learn what makes them tick. Ask them to tell you their biggest failures and what they learned from them. Keep things informal and learn as much as you can."

    You should also consider having a peer mentor — a coworker you regularly exchange feedback with. Suzanne Bates, CEO of Bates Communications, says that all successful leaders have one and it helps them rise faster in their career, Business Insider's Shana Lebowitz previously reported.

    3. A cheerleader

    "This is someone who believes in you and is there to encourage you no matter what," Hogan wrote.

    The best cheerleader for an aspiring millionaire is one who's already crossed the seven-figure mark, he said: "They know the challenges you're up against, and they will be a constant reminder that you can make it."

    Having a strong support system can guide you through trials and tribulations on your journey, and help you manage both challenges and celebrations. Entrepreneur Randi Zuckerberg previously told Business Insider that you need to "have a good partner or support system in any situation to thrive."

    Read more:An author who surveyed over 10,000 millionaires found the qualities that make them successful hinge on a distinct behavior

    4. A friend

    You can't spend every waking moment dreaming about being a millionaire, Hogan said.

    "Friends remind us that life is about more than building wealth," he wrote. "And, especially true for old friends, they remind us who we are and where we've come from. Don't underestimate the quality-of-life value in that. You never want to build wealth at the cost of your relationships."

    But friends offer more advantages than just keeping you grounded.

    Having stable personal relationships — and good personal habits — means that you're being a good steward of your resources, William D. Danko, coauthor of the best-seller "The Millionaire Next Door," said in a Q&A with the Washington Post.

    It's one of his key pieces of advice for building wealth. "These behaviors will lead to a longer life, and more compounding opportunities," he said.

    Research backs him up; studies show that fostering friendship is key to aging well and boosting happiness, Business Insider's Erin Brodwin reported. Essentially, having a healthy personal life can result in a longer life — and more time for wealth accumulation.

    SEE ALSO: An early retiree who quizzed 100 millionaires about their money found there's a 4-step process to building wealth

    SEE ALSO: 2 men who studied millionaires for over 20 years developed a formula that classifies Americans in 3 different categories of wealth

    Join the conversation about this story »

    NOW WATCH: 7 science-backed ways to a happier and healthier 2019 that you can do the first week of the new year

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    • A one-time treatment for a devastating rare disease could be paid for with an installment plan as soon as this summer in Massachusetts. 
    • Novartis's AveXis unit is involved in the discussions. Its gene therapy could cost up to $5 million per treatment. 
    • Organizers hope the plan will ensure patients can access a potentially life-changing treatment.
    • Business Insider is the first to report on the discussions and the interest from AveXis. 

    In recent years, no treatments were even available for the rare, devastating disease known as spinal muscular atrophy.

    Now, in a matter of months, an experimental one-time therapy designed to address the disease's underlying genetic cause could treat the disorder. First though, someone has to pay for its potential multimillion-dollar pricetag. 

    A new effort is underway in Massachusetts to figure out how to do that. The idea is to let health insurers pay for the treatment over several years. If it succeeds, organizers hope that it could prove to be a viable model for the entire US. 

    Novartis's AveXis unit, which makes the gene therapy, Zolgensma, and has suggested a price tag of up to $5 million could be appropriate, is in talks to participate. Business Insider is the first to report both the plan and interest from Novartis's AveXis. 

    Americans have long paid for big-ticket items like houses and cars in a similar manner. But the plan — if it is finalized — would mark one of the first such approaches for a medicine. And Novartis would only receive each of its payment if the treatment is effective.

    Paying for drugs on an installment plan

    "Think of it as installment plan that’s then tied to how well the therapy works. This would be a car loan but you’ve still got to see if the car is going to work,"Mark Trusheim, strategic director of the MIT Center for Biomedical Innovation's NEWDIGS program, told Business Insider.

    NEWDIGS brings organizations together to discuss how the US health system will be able to pay for costly cures, and the Massachusetts initiative came out of that, Trusheim said.

    That work has become increasingly important as more gene therapies are likely to become available in coming years for different diseases, according to experts interviewed for this story. Gene therapies are typically administered in a single treatment and can have very high price tags compared to other types of pharmaceuticals. That could impose massive costs and challenges for an unprepared health system

    Read more:From the gene therapy that spurred a $9 billion acquisition to a CBD medication for rare types of childhood epilepsy, here are the 12 promising drugs to watch in 2019

    Doing the unthinkable, at an exceptional price

    Gene therapy is a cutting-edge technology with the potential to cure diseases by tinkering with the body's genetic material. Drugmakers have cited the value these new products could bring to patients and the medical system to justify their high prices.

    Spinal muscular atrophy is a rare genetic condition that affects muscle movement in children and is the leading genetic cause of mortality in infants.

    About 10,000 to 25,000 individuals in the U.S. are thought to have SMA, according to the SMA Foundation. But far fewer individuals would likely be treated with Zolgensma, since it's thought that only newborns would be eligible.

    In Massachusetts, only one or two dozen patients are expected each year at most, according to Trusheim. A US approval decision Zolgensma, is expected in May, and Novartis isn't likely to release a precise price tag until then.

    An independent group that evaluates drug prices has said the treatment could merit a price of $1.6 million to $5 million, Novartis Pharmaceuticals CEO Paul Hudson told Business Insider this week, noting that the cost of ventilators and another expensive therapy for the rare disease over a five-year period were, in total, comparable.

    AveXis plans to explore `creative' ways to get paid for its new treatment

    Hudson heads up the business that oversees AveXis's SMA gene therapy. AveXis would not comment specifically about its participation in the Massachusetts program, but said in a statement that gene therapies require new approaches in the US health system.

    "Our objective is to ensure patients get access to this therapy, so we can make a meaningful difference in their lives," the AveXis statement said. "We are working closely with payers to ensure we establish appropriate prices reflecting the value of gene therapy and explore creative options for payers, including installment payment options, as well as outcomes-based arrangements."

    As the Massachusetts pilot currently stands, the price of Zolgensma would be paid by health insurers in five annual installments, spread out over four years. It is similar to a plan unveiled by biotech Bluebird Bio earlier this week, MIT's Trusheim said. 

    Read more:A biotech is proposing a plan to pay for its pricey rare-disease treatment the same way you'd buy a TV or dishwasher

    The program is starting with the Novartis product, but intends to add other gene therapies over time. Many but not all health insurers in Massachusetts are involved in the discussions, Trusheim said, and others could eventually join. Its organizers hope to launch it by this summer, and they believe they have addressed many of the challenges of this type of approach. 

    'We shouldn't let cost get in the way'

    One crucial challenge for these types of installment plans is what happens when patients switch health insurers. In this case, the insurers that intend to participate in the Massachusetts pilot have agreed to pick up the remaining payments left on the installment plan.

    "If you believe these are likely to be life-changing to the people who need them, then we shouldn't let cost get in the way," Dr. Michael Sherman, chief medical officer of the nonprofit health insurer Harvard Pilgrim, told Business Insider. If the program gets off the ground, Harvard Pilgrim intends to be a part of it, he said. 

    The planners are still working out other details. For instance, even though the payment structure and performance metrics for the gene therapy would be the same across insurers, each individual health plan would negotiate its own price for Zolgensma.

    Insurers will also have to work out with Novartis what happens if a patient moves to another state. That might include continuing to make the payments or potentially making a one-time exit payment.

    Another challenge is a legal requirement that the government Medicaid program get the "best price" on a drug. That could complicate this type of installment plan, since a failed treatment in which only one installment is paid could be interpreted as violating that "best price" guarantee. 

    Read more: Bill Gates warns that nobody is paying attention to gene editing, a new technology that could make inequality even worse

    Because spinal muscular atrophy is so rare, health insurers haven't expressed concerns about Zolgensma's price tag specifically, Hudson told Business Insider this week. Instead, they'd like the flexibility to pay in installments if needed, according to Hudson. 

    "What they're not saying is, 'We're worried about the price.' What they are saying is, 'We may have concerns about staging payments,'" Hudson said. 

    Additional reporting by Lydia Ramsey

    Read more about pharmaceutical innovation: 

    The CEO of $230 billion pharma giant Novartis explains why he's not scared of buying biotechs at an earlier — and riskier — stage

    Big drugmakers are sitting on billions of cash — and top pharma executives are hinting about big M&A to come in 2019

    One of the biggest drugmakers in the world thinks it has 26 billion-dollar drugs in the pipeline — here's what they aim to treat

    Join the conversation about this story »

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    lauren sanchez jeff bezos patrick whitesell

    • Amazon CEO Jeff Bezos is reportedly dating entrepreneur and former TV anchor Lauren Sanchez.
    • Earlier on Wednesday, Jeff and MacKenzie Bezos announced that they were divorcing after 25 years together.
    • The New York Post reported that Sanchez is still married to Hollywood agent Patrick Whitesell, though they are separated.
    • The National Enquirer said it's on the verge of publishing an exposé on the alleged affair between Bezos and Sanchez, saying its reporters tailed the pair for months.

    Amazon CEO Jeff Bezos reportedly has a new romance in his life: former TV anchor Lauren Sanchez.

    On Wednesday, the billionaire exec and his wife, MacKenzie Bezos, announced they were divorcing, saying in a joint statement: "We want to make people aware of a development in our lives. As our family and close friends know, after a long period of loving exploration and trial separation, we have decided to divorce and continue our shared lives as friends."

    The New York Post and the National Enquirer both reported that Jeff Bezos, 54, is romantically involved with 49-year-old Sanchez, a former "Good Day LA" news anchor with Fox who also works as a helicopter pilot and entrepreneur.

    The TV host is still married to Patrick Whitesell, the co-CEO of prominent Hollywood talent agency WME. Whitesell counts Matt Damon, Christian Bale, and Hugh Jackman among his clients. According to the New York Post, Sanchez and Whitesell separated in the fall. It's after this that Bezos reportedly "became closer" with Sanchez. Sanchez has three children — two from her marriage to Whitesell and one from a previous relationship.

    The National Enquirer said it conducted a four-month investigation into Bezos and Sanchez's alleged affair, and suggested that it was its impending report — due to be published in full later this week — that sparked the announcement from Bezos.

    "During a blockbuster four-month investigation, The ENQUIRER tracked Bezos, who turns 55 on Jan. 12, and secret lover Sanchez across five states and 40,000 miles, tailed them in private jets, swanky limos, helicopter rides, romantic hikes, five-star hotel hideaways, intimate dinner dates and 'quality time' in hidden love nests," the National Enquirer wrote in a story teasing its upcoming investigation.

    Bezos has an estimated net worth of about $137 billion, and news of his impending divorce has sparked fevered speculation as to what it will mean for his fortune. It's not clear whether Jeff and MacKenzie Bezos signed a prenuptial agreement or formed another arrangement regarding what would happen if they split. The couple have been married for 25 years, and have four children.

    An Amazon spokesperson did not immediately respond to Business Insider's request for comment.

    Got a tip? Contact this reporter via Signal or WhatsApp at +1 (650) 636-6268 using a non-work phone, email at, Telegram or WeChat at robaeprice, or Twitter DM at @robaeprice. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.


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    Lauren Sanchez

    • Amazon CEO Jeff Bezos announced on Wednesday that he and his wife, MacKenzie, were divorcing.
    • Hours later, reports surfaced in the tabloid press that Bezos had been dating the former TV anchor Lauren Sanchez.
    • Sanchez has a pretty cool life.
    • Besides her TV career, she is a licensed helicopter pilot, founded her own aerial filming company, and has starred in movies including "Fight Club."

    Hours after Jeff Bezos announced he and his wife, MacKenzie, were divorcing, the tabloid press was buzzing with stories about the Amazon CEO's new romance.

    According to TMZ, the National Enquirer, and the New York's Post's Page Six, among others, Bezos is dating the former TV news anchor Lauren Sanchez.

    The Enquirer said it had trailed Bezos and Sanchez for some time, and on Thursday it published images of the pair together. In one photo on the Enquirer's front page, the duo appear to be holding hands.

    Sanchez, who has been in the public eye for much of her career, seems to lead a pretty cool life. Here are six fast facts about the TV star turned pilot:

    1. She had a long career as a reporter and news anchor

    Sanchez started her journalistic career as an intern on the Los Angeles station Channel 13 while on scholarship at the University of Southern California, according to an interview with The Hollywood Reporter.

    She went on to be a host at various news channels, becoming a longtime coanchor on Fox 11's "Good Day LA," and appeared as a host and correspondent on "Extra."

    2. She's a licensed plane and helicopter pilot

    Sanchez learned how to fly while working as a news anchor, and she started flying planes in 2011 before going on to get her helicopter pilot's license in 2016.

    Her interest in aviation seems to have been sparked at an early age, as her father was a flight instructor and mechanic who rebuilt planes.

    "I was always in the hangar growing up but knew nothing about flying," she told The Hollywood Reporter.

    3. She founded her own aerial filming company

    Sanchez founded Black Ops Aviation in 2016, a "female owned and operated" aerial filming company, which has shot footage for Amazon, Netflix, and Fox, among others.

    You can watch the company's demo reel here:

    Sanchez also lent her aerial-filming knowledge to Christopher Nolan as a consultant on "Dunkirk."

    4. She's played a news anchor in a bunch of movies and TV shows

    As well as being an anchor in real life, Sanchez has starred as a news anchor in movies including "Fight Club,""The Day After Tomorrow," and "The Fantastic Four,"according to IMDB.

    5. She used to host a dancing reality show, 'So You Think You Can Dance'

    Sanchez was a host on the first series of Fox's "So You Think You Can Dance," but she reportedly left the show after the first season to have her second child.

    6. While she is still married to a Hollywood agent, Patrick Whitesell, the pair are reportedly separated

    Whitesell is co-CEO of the Hollywood agency WME, and his clients include Matt Damon, Christian Bale, and Hugh Jackman. Whitesell and Sanchez married in 2005, and sources told the New York Post that they separated in the fall.

    SEE ALSO: Jeff Bezos is the richest person alive — here's how he makes and spends his billions

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    NOW WATCH: Jeff Bezos is worth over $100 billion — here's how the world's richest man makes and spends his money

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    TransferWise founders Kristo Käärmann and Taavet Hinrikus

    • 500 European startups, representing billions of dollars in value, are lobbying lawmakers to reform the rules around stock options.
    • They warned of a "brain drain" if Europe can't come up with unified policies to help startups attract the brightest talent to compete with Silicon Valley and China.
    • Stock options give employees the chance to buy shares in their company, and help startups compete for talent against bigger companies.
    • Europe has yet to produce its own Silicon Valley-style tech giant, and investors and CEOs believe fierce competition for talent is one reason why.

    European startup CEOs representing billions of dollars in value are lobbying lawmakers across the bloc to consider reforms to the rules governing employee stock options, so they can attract better talent and compete with Silicon Valley.

    Around 500 chief executives from startups such as Stripe, TransferWise, Clue, Supercell, and BlaBlaCar have signed an open letter, which is being sent to European policymakers this week.

    There are a further 200 signatories from the wider tech ecosystem, such as venture capital investors. Collectively the 500 startups are worth billions of dollars, and the top 12 alone are worth $35 billion.

    The letter, coordinated by European investor Index Ventures, argues that Europe's "days of living in Silicon Valley's shadow are over" but said the dearth of talent available to startups threatened the bloc's tech growth.

    They wrote that the policies governing stock options are "archaic" and "ineffective."

    Read more: British tech startups are increasingly gloomy as Brexit approaches, and it's already hurting their ability to hire talent

    Stock options are a popular way for startups to compete for the top talent against bigger, richer companies. While startups can't always offer salaries to compete with the likes of Google or Facebook, they can offer stock options. This gives employees the option of buying shares in the startup at a particular price. If the share price booms, that can mean big financial rewards for employees.

    But the letter's authors wrote that Europe's policies on stock options vary widely from country to country, putting the bloc at a disadvantage. Some countries have more punitive tax regimes, while others have limits on the size of startups that can benefit from stock option tax breaks.

    The authors wrote: "Some [policies] are so punishing that they put our startups at a major disadvantage to their peers in Silicon Valley and elsewhere, with whom we’re competing for the best designers, developers, product managers, and more."

    They warned that Europe could see a "brain drain" of its best and brightest talent, and a slowing of growth.

    Jean-Charles Samuelian, CEO and cofounder of French health startup Alan, told Business Insider that US and Chinese startups do so well thanks to the talent they can attract.

    "We need to win as a European company, and a stock option plan is one of the best ways to do that. As of today, there is lots of complexity country to country. If you are a foreigner, it's not clear how you will be treated tax-wise," he said.

    Alan has around 15 employees from the US, Samuelian said, where there's much greater flexibility around stock options.

    "We need a European approach on the topic," he added. "We want to build massive European companies, so a unified system would inform the way we hire, we can build the companies in every part of Europe."

    SEE ALSO: Deliveroo, the $2 billion food delivery startup coveted by Uber, has lost one of its top executives

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    NOW WATCH: Jeff Bezos is worth over $100 billion — here's how the world's richest man makes and spends his money

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    Sandy Parakilas

    • Apple has reportedly hired Sandy Parakilas, a former Facebook employee who has become a prominent critic of the social network.
    • It coincides with Apple CEO Tim Cook being strongly critical of Facebook and other companies, which rely on collecting user data.
    • According to the Financial Times, Parakilas will join Apple's privacy team and work to ensure new products protect users' security and privacy.
    • Facebook CEO Mark Zuckerberg has already been angered by Cook's criticism of his company.

    Apple has reportedly recruited a prominent Facebook critic to its security team, in an apparent bid to differentiate itself from other major tech firms on privacy.

    According to the Financial Times, Apple has hired Sandy Parakilas, the former Facebook employee who blew the whistle on its privacy practices during the Cambridge Analytica scandal in 2018.

    Parakilas was an operations manager for Facebook between 2011 and 2012. He spoke publicly last year about how covert data harvesting by third-party developers was routine, just as Facebook was under scrutiny for failing to police developer use of its platform.

    He also gave evidence to the UK and EU parliaments hearing about the scandal. He told Business Insider at the time: "I have no intention of stopping until the company is doing all it needs to do to protect our elections."

    Read more: 'I'm pretty sure Mark and Sheryl do not appreciate what I'm doing': Meet the whistleblower waging war on Facebook

    Parakilas, according to the FT report, will now work at Apple's privacy team as a product manager. Specifically, he'll be part of the team that ensures new Apple products protect people's privacy and don't collect unnecessary amounts of data.

    The hire would be Apple thumbing its nose at Facebook and Google, given both firms rely on collecting user data for their ad businesses. Chief executive Tim Cook has leaned into the narrative that Apple stands alone in Silicon Valley as the one company that fights for its users' security and privacy. From that position, he has taken shots at Facebook and Google's wider business models.

    "We're not going to traffic in your personal life," Cook said in a March 2018 MSNBC interview. "Privacy to us is a human right. It's a civil liberty." Later in the year, he used a speech to attack rivals that hoard "industrial" quantities of data.

    Facebook CEO Mark Zuckerberg was reportedly so angered by these comments that he ordered employees to switch from iPhone to Android phones.

    Parakilas is not simply a Facebook-employee-turned-critic either. He was previously chief strategy officer for the Center for Humane Technology, a collective of concerned tech insiders who are trying to raise the alarm about issues such as tech addiction and election interference. Hiring Parakilas sends a signal that Apple is taking these problems seriously.

    Parakilas did not immediately respond to a request for comment, but an automated email confirms that he is no longer full-time at the Center of Humane Tech as of this month.

    Business Insider has contacted Apple for comment.

    Join the conversation about this story »

    NOW WATCH: British Airways has a $13 million flight simulator that taught us how to take off, fly, and land an airplane

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    Osé personal massager robotic sex toy

    • A hands-free robotic sex toy won an award for innovation at the Consumer Electronics Show tech show in Las Vegas, but the prize was later revoked.
    • The Osé personal massager, the startup Lora DiCarlo's first product, originally won the CES Innovation Award in the robotics-and-drones category.
    • But the Consumer Technology Association, which judges the awards and organizes CES, said the sex toy should never have been considered as it "does not fit into any of our existing product categories."
    • In an open letter, the CEO of Lora DiCarlo said the association had changed its story.
    • She said it initially told her it revoked the award on moral grounds, and she accused it of sexism, saying that sex gadgets aimed at men are prominent at CES.

    A robotic sex toy had its innovation award revoked at the Consumer Electronics Show in Las Vegas, prompting accusations of sexism.

    The Osé hands-free personal massager is the first product made by Lora DiCarlo, a company that describes itself as "a woman-run start-up" that is "determined to change the face of pleasure products."

    In an open letter, Lora DiCarlo's CEO, Lora Haddock, said the company submitted the Osé for the CES Innovation Awards — judged by the tech show's organizer, the Consumer Technology Association — and won, but the victory was short-lived.

    "My team rejoiced and celebrated," she wrote. "A month later our excitement and preparations were cut short when we were unexpectedly informed that the administrators at CES and CTA were rescinding our award and subsequently that we would not be allowed to showcase Osé, or even exhibit at CES 2019."

    Read more: Apple trolled Google with a massive billboard at the world's biggest tech show, which it's not even attending

    In a statement to Business Insider, the CTA said:

    "The product referenced does not fit into any of our existing product categories and should not have been accepted for the Innovation Awards Program. CES does not have a category for sex toys. CTA had communicated this position to Lora DiCarlo nearly two months ago and we have apologized to them for our mistake."

    The product originally won in the robotics-and-drones category, and the organization did not explain in its statement why Lora DiCarlo was stopped from exhibiting at CES.

    In her open letter, Haddock said that the CTA kept changing its story and that it initially told Lora DiCarlo the Osé had been disqualified on moral grounds, citing this rule:

    "Entries deemed by CTA in their sole discretion to be immoral, obscene, indecent, profane or not in keeping with CTA's image will be disqualified. CTA reserves the right in its sole discretion to disqualify any entry at any time which, in CTA's opinion, endangers the safety or well being of any person, or fails to comply with these Official Rules."

    Haddock accused CES of sexism, saying gadgets geared toward men's sexuality had become a fixture on the showroom floor.

    "A literal sex doll for men launched on the floor at CES in 2018 and a VR porn company exhibits there every year, allowing men to watch pornography in public as consumers walk by," she wrote. CES 2018 also featured robotic strippers with CCTV cameras for heads.

    "Clearly CTA has no issue allowing explicit male sexuality and pleasure to be ostentatiously on display," Haddock wrote. "Other sex toys have exhibited at CES and some have even won awards, but apparently there is something different, something threatening about Osé, a product created by women to empower women."

    She also said the notion that the sex toy did not fit into the category it was entered in was "even more insulting and frankly ridiculous."

    She said the Osé was developed in partnership with Oregon State University's robotics lab, adding that the Osé "is the subject of eight pending patents and counting for robotics, biomimicry, and engineering feats."

    "Osé clearly fits the Robotics and Drone category — and CTA's own expert judges agree," she said.

    CES and Lora DiCarlo did not immediately respond to Business Insider's request for comment.

    SEE ALSO: The best robot we saw at CES 2019

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    NOW WATCH: Apple forever changed the biggest tech event of the year by not showing up

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    Robert Mueller

    • This week brought a slew of new developments in Russia news.
    • The special counsel Robert Mueller notched a victory from the Supreme Court.
    • New York prosecutors charged a Kremlin-connected lawyer with obstruction of justice.
    • Media reports said deputy attorney general Rod Rosenstein may soon be leaving the Justice Department.
    • Lawyers representing Paul Manafort, President Donald Trump’s former campaign chairman, accidentally revealed sensitive details about Manafort’s alleged lies to Mueller.
    • Two years after BuzzFeed News first published the unverified "Steele dossier", several of its claims have held up over time.

    The special counsel Robert Mueller's "quiet period" is officially over.

    This week brought a slew of new developments on multiple fronts related to the Russia investigation and key figures connected to the probe. Here's what you need to know:

    The Supreme Court handed Mueller a victory in his mystery grand-jury subpoena case:

    Mueller has been duking it out with a mysterious foreign corporation over a grand-jury subpoena since last August.

    The company has been fighting the subpoena, saying that doing so would violate the law in "Country A." In December, a federal appeals court in Washington, DC, struck down the company's argument and ordered it to comply with the subpoena. It also imposed a fine for each day the company did not cooperate with Mueller.

    The company appealed to the Supreme Court, and Chief Justice John Roberts placed a temporary freeze on the fines while the court considered the case. But the Supreme Court ultimately declined to intervene, holding up the lower court's ruling.

    Paul Manafort's lawyers screwed up ... again:

    In a Tuesday court filing, lawyers representing former Trump campaign chairman Paul Manafort made a formatting error and accidentally unsealed sensitive information about Manafort's alleged lies.

    The information, which was supposed to be redacted in the filing, revealed that Mueller believes Manafort lied about sharing confidential Trump campaign polling data with the former Russian intelligence operative Konstantin Kilimnik.

    Prosecutors say the information was intended for two Ukrainian oligarchs, and the news prompted speculation over whether Manafort provided the information as part of a quid pro quo for his political consulting work.

    His spokesperson denied that was the case, and Manafort's team continues pushing back against Mueller's claim that he breached his plea deal.

    The two-year anniversary of the Steele dossier:

    Thursday marks two years since BuzzFeed News published the so-called Steele dossier. Many of the dossier's claims remain uncorroborated. But several allegations have proven, in part, to have held up over time.

    That includes some of the document's claims about a direct link between Russia and the 2016 hack of the Democratic National Committee and subsequent dissemination of stolen emails through WikiLeaks; some of Trump's business dealings in Russia; former Trump campaign adviser Carter Page's meetings during a shadowy Moscow trip; and Manafort's deep ties to Russian and Ukrainian interests.

    A Kremlin-connected lawyer was charged with obstruction of justice:

    Federal prosecutors in New York indicted Natalia Veselnitskaya, the self-identified Kremlin "informant" and lawyer, accusing her of secretly working with a top Russian prosecutor to hamper a Justice Department investigation into an alleged money-laundering operation that involved an elaborate Russian tax-fraud scheme and implicated high-level Kremlin officials.

    Veselnitskaya made headlines in 2017 when it surfaced that she met with several top Trump campaign officials during the 2016 election to offer them compromising information on then Democratic candidate Hillary Clinton "as part of Russia and its government's support" for President Donald Trump's candidacy.

    Rod Rosenstein's impending departure from the Justice Department:

    Deputy attorney general Rod Rosenstein is said to be preparing to leave the Justice Department after William Barr, Trump's nominee for attorney general, is confirmed by the Senate later this month.

    Some media reports said Rosenstein would stay on not only until Barr's confirmation, but also until Mueller's investigation was nearly wrapped up.

    Legal experts said the news itself indicates the investigation could formally end soon, but that it is an unlikely possibility given a number of looming indictments that have yet to drop. A federal judge in Washington, DC, recently extended Mueller's grand jury for another six months.

    Either way, one Justice Department veteran said the myriad court cases stemming from the probe would continue past Rosenstein's departure, potentially generating new evidence, cooperators, and charges.

    SEE ALSO: Grading the Steele dossier 2 years later: what’s been corroborated and what's still unclear

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    trump putin

    • Thursday marks two years since the so-called Steele dossier, an explosive collection of memos alleging collusion between President Donald Trump's campaign and Russia, was published.
    • The document was compiled by the former British spy Christopher Steele.
    • Many of the dossier's claims remain uncorroborated, but several allegations have held up.

    Thursday marks two years since the so-called Steele dossier, an explosive collection of memos alleging collusion between President Donald Trump's campaign and Russia, was published by BuzzFeed News for public consumption.

    The largely unverified document, compiled by the former British spy Christopher Steele, consists of 16 separate reports that total 35 pages.

    The FBI and the Senate Intelligence Committee are both known to be using the dossier as a "roadmap" in their respective investigations into Russia's interference in the 2016 US election. The FBI also used the document to support, in part, its application for a Foreign Intelligence Surveillance Act (FISA) warrant targeting Carter Page, a former Trump campaign adviser who has drawn scrutiny over his Russia ties.

    Trump dismissed the memos as a "pile of garbage," and he and his Republican allies frequently accuse the FBI of fabricating the information to oust Trump from office.

    Two years later, many of the dossier's claim remain uncorroborated. But several allegations have proven, at least in part, to have held up over time.

    SEE ALSO: Manafort's lawyers made a formatting error in a new court filing and accidentally revealed a slew of bombshells about his alleged lies to Mueller

    DON'T MISS: The Supreme Court handed Mueller a victory in his mysterious grand-jury subpoena fight

    WikiLeaks, Roger Stone, and the 2016 DNC hack

    The dossier said the "Russian regime had been behind the recent leak of embarrassing e-mail messages, emanating from the Democratic National Committee (DNC) to the WikiLeaks platform."

    "The reason for using WikiLeaks was 'plausible deniability' and the operation had been conducted with the full knowledge and support of TRUMP and senior members of his campaign team," the dossier said.

    It added: "Over the period March-September 2016 a company called [redacted] and its affiliates had been using botnets and porn traffic to transmit viruses, plant bugs, steal data and conduct 'altering operations' against the Democratic Party leadership. Entities linked to one [redacted] were involved and he and another hacking expert, both recruited under duress by the FSB, [redacted] were significant players in this operation."

    What's been corroborated and what hasn't

    • The special counsel Robert Mueller indicted 12 Russian military intelligence officers last July on hacking and conspiracy charges related to the 2016 DNC hack and the subsequent dissemination of stolen emails via the Russian hacker Guccifer 2.0, the Russia-linked website DCLeaks, and the radical pro-transparency platform WikiLeaks.
    • The charging document alleged that beginning in March 2016, the conspirators "used a variety of means to hack the email accounts" of people working on the Hillary Clinton campaign.
    • In April, the defendants hacked into the computer networks of the DNC and the Democratic Congressional Campaign Committee (DCCC), according to the allegations.

    Once they breached the network, the indictment said, the hackers "covertly monitored the computers of dozens of DCCC and DNC employees, implanting hundreds of files containing malicious computer code ... and stole emails and other documents from the DCCC and DNC."

    In June, the Russians allegedly "staged and released" tens of thousands of hacked documents using Guccifer 2.0 and DCLeaks.

    The indictment said the hackers also used Guccifer 2.0 to pass stolen emails along to WikiLeaks.

    • The charging document did not directly implicate any Americans. But it said that in August 2016, Guccifer 2.0 opened a channel of communication with "a person who was in regular contact with senior members" of the Trump campaign.
    • The longtime GOP strategist and informal Trump adviser Roger Stone is known to have communicated with Guccifer 2.0 and WikiLeaks during the election. He has also publicly stated that he believes he is the unnamed American referred to in Mueller's indictment.

    Additional emails between Stone and the far-right conspiracy theorist Jerome Corsi, which are in Mueller's possession, shed light on the two men's murky ties to WikiLeaks. Three days after the first document dump, the two men discussed how to get "the pending [WikiLeaks] emails," and Corsi also later touched base with Stone to tell him about an upcoming dump.

    "Word is friend in embassy plans 2 more dumps," Corsi reportedly wrote to Stone on August 8, according to NBC News. "One shortly after I'm back. 2nd in Oct ... Impact planned to be very damaging."

    "Time to let more than [Hillary Clinton campaign chairman John Podesta] to be exposed as in bed w enemy if they are not ready to drop HRC," Corsi reportedly added, referring to Clinton. "That appears to be the game hackers are now about."

    A little over two weeks later, on August 21, Stone tweeted that Podesta would "soon" be targeted.

    On October 7, WikiLeaks published a damaging batch of emails belonging to Podesta.

    Trump heaped praise on WikiLeaks on the campaign trail. His son, Donald Trump Jr., is also known to have been in contact with WikiLeaks via Twitter during the election, according to The Atlantic.

    While media reports indicate that Trump, Stone, Trump Jr., and other members of the Trump campaign were interested in the WikiLeaks dumps, there is no evidence corroborating Steele's claim that the hacking operation was carried out "with the full knowledge and support of TRUMP and senior members of his campaign team."

    NATO and Russia's intervention in Ukraine

    The dossier said that in return for Russia's help in dumping hacked emails damaging to the Clinton campaign, the "TRUMP team had agreed to sideline Russian intervention in Ukraine as a campaign issue and to raise US/NATO defence commitments in the Baltics and Eastern Europe to deflect attention away from Ukraine, a priority for PUTIN who needed to cauterise the subject."

    The "well-developed conspiracy of cooperation between [the Trump campaign] and the Russian leadership was managed on the Trump side by the Republican candidate's campaign manager, Paul Manafort," the dossier added.

    See the rest of the story at Business Insider

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    Robin Li Baidu

    • On Wednesday, Chinese cloud company and search giant Baidu announced OpenEdge, the first open source edge computing platform out of the country. 
    • Edge computing is poised to become the next thing after cloud computing — it brings processing power to "edge devices" like smart home appliances and wearables.
    • China's open source community is growing, and Baidu has previously led other open source platforms like the autonomous driving platform Apollo and the artificial intelligence framework PaddlePaddle.
    • Microsoft Azure and Amazon Web Services are investing heavily in edge computing, as well. 

    Baidu has just announced China's first open source edge computing platform – reflecting the country's growing open source community. 

    Baidu, a cloud company and search giant sometimes known as the "Google of China," unveiled OpenEdge at the Consumer Electronics Show on Wednesday.

    "Edge computing is becoming more commonplace due to the rise of IoT devices," Zun Wang, a Baidu spokesperson, told Business Insider. "It brings different kinds of compute power, especially for AI processing, to the edges of your network, allowing close proximity of your data source with the cloud."

    Edge computing means that the processing power is shifted away from the cloud and towards the "edge"— which is to say closer to the users who are using it. For example, edge devices might be gadgets people use each day, such as PCs, smartphones and tablets, or Internet of Things gadgetry like wearables and smart home appliances.

    With OpenEdge, developers can build their own edge computing systems and deploy them on various devices and hardware. This platform include features that allow users program devices to collect data, send messages to each other, and generally "learn" from user behavior. 

    Previously, Baidu has led other open source projects like Apollo, its autonomous driving platform, and PaddlePaddle, an artificial intelligence framework. It also offers cloud services that are based on open source software created by other companies. 

    However, this is Baidu's first open source initiative in edge computing, and the first coming out of China. Baidu hopes open sourcing this will improve the development of edge computing globally. It's generally believed in the industry that developments in artificial intelligence, coupled with the rising demand for smart gadgets, self-driving cars, and industrial robotics, mean that edge computing will be the next big thing after cloud computing.

    Read more: One of the biggest trends in tech over the last decade has been the shift to cloud computing — and we're seeing the first signs of what might be next

    "The explosive growth of IoT devices and rapid adoption of AI is fueling great demand for edge computing," Watson Yin, Baidu Vice President and GM of Baidu Cloud, said in a statement. "And by providing an open source platform, we have also greatly simplified the process for developers to create their own edge computing applications."

    More recently, Baidu has been focusing on artificial intelligence and cloud computing. OpenEdge was originally designed as a part of Baidu Intelligent Edge, a commercial software product that works with Baidu Cloud, and will include functions to manage different edge computing applications.

    "We wanted to let developers build their own edge computing system as well as contribute functions and edge apps to the existing platform," said Wang, the Baidu spokesperson.

    McFly, an agriculture technology company, has used Baidu's software in drones to collect data about crops that helps it lower pesticide use. This is just one possible application of edge computing.

    Similarly, Microsoft Azure also has an open source edge computing project, and offers edge computing services to developers. Amazon Web Services also offers edge computing services, but the underlying software is not available as open source. 

    Currently, China is seeing its slowest growth in decades, but despite the economic slowdown, analysts predict Baidu's annual revenue increased by 20% in 2018.

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    NOW WATCH: 7 science-backed ways to a happier and healthier 2019 that you can do the first week of the new year

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    Ginni Rometty

    • IBM unveiled the IBM Q System One on Tuesday, billed as the world's first quantum computer that businesses will be able to buy and use.
    • Previously, quantum computers have been confined to research labs — Microsoft, Google, IBM, and lots of others have been racing to bring a viable quantum computer to market. 
    • Now IBM will partner with commercial clients to give them access to this technology, which will allow businesses to model complicated data, such as investments and risk.
    • Quantum computers have the potential to perform seemingly impossible computing tasks, but they're still in their very early stages.
    • The computer itself is in a 9-foot-tall, 9-foot-wide glass cube that maintains the exact correct temperature and other conditions it needs to do its work — a kind of fragility that means that you can't just order one and have it delivered; customers will access it via the IBM Cloud. 

    For many years, quantum computers have been within only the confines of the research lab.

    On Tuesday, though, IBM unveiled the IBM Q System One, billed as the first-ever quantum computer designed for businesses to put to their own use — though the company is clear that this is only the first step toward a broader revolution. 

    Quantum computing is considered one of the most promising early-stage technologies out there today. That's because quantum computers can process exponentially more data and have the potential to completely transform entire industries. For example, they could streamline aerospace and military systems, calculate risk factors to make better investments, or, perhaps, find a cure for cancer and other diseases. 

    "Data will be the world's most valuable natural resource," IBM CEO Ginni Rometty said on stage at the Consumer Electronics Show in Las Vegas, where the IBM Q System One was unveiled. 

    Don’t expect to install one in your office any time soon, though. While the computer is open to paying customers, developers will access its power from the comfort of their own homes or offices via the IBM Cloud.1

    Average computers store data in binary, as either zeroes or ones — strings of ones and zeroes represent numbers or letters. However, quantum computers are much more powerful. That's because they store data using "qubits," which have a special property that allows zeroes and ones to exist simultaneously. This seemingly small thing gives quantum computers the ability to do exponentially more calculations at once, making them powerful enough for incredibly complicated tasks like drug discovery, intensive data analysis, and even creating unbreakable codes. 

    Enclosed in a 9-foot-tall, 9-foot-wide glass case that forms an air-tight environment, this sleek computer is IBM's first effort to bring quantum computing to businesses. The casing is important: Qubits lose their quantum-computing properties outside of very specific conditions. A quantum computer has to be kept well below freezing in an environment that is mostly free of vibration and electromagnetic radiation.

    IBM's new system aims to address this challenge with an integrated quantum computer that solves all of that on behalf of its customers — hence the casing, which keeps everything in shipshape. However, this relative fragility is why you won't be installing an IBM Q System One in your own office — while it's definitely a major step forward, it's far away from being something you can order and have delivered.

    "The IBM Q System One is a major step forward in the commercialization of quantum computing," Arvind Krishna, IBM's senior vice president of hybrid cloud and director of research, said in a statement. "This new system is critical in expanding quantum computing beyond the walls of the research lab as we work to develop practical quantum applications for business and science."

    Read more:Here’s why we should be really excited about quantum computers

    Later this year, IBM will also open its first IBM Q Quantum Computation Center for commercial customers in Poughkeepsie, New York. At this lab, clients can use IBM's cloud-based quantum computing systems, as well as other high-performance computing systems. 

    IBM isn't the only company that's been working on quantum computing, as the technology is still far from ready for mass deployment.

    Google is researching how to make quantum computers more stable and better able to find and fix errors, and it has also created and tested qubit processors as it pursues the technology. Microsoft is working on creating hybrid quantum computers, which combine the new technology with more conventional processors. Intel, too, has been working on quantum computing chips. 

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    NOW WATCH: North Korea's leader Kim Jong Un is 35 — here's how he became one of the world's scariest dictators

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    joel kapan mark zuckerberg facebook

    • Facebook has had a wave of executives leave the company in the past year.
    • With the company under pressure, there are likely to be more ousters, defections, and departures.
    • These are some of the top execs to keep an eye on, according to company insiders.

    Facebook's brutal 2018 was accompanied by a wave of executive departures.

    As the Silicon Valley tech giant grappled with the Cambridge Analytica scandal and its role spreading hate speech that fueled genocide in Myanmar, several longtime senior leaders at the company headed for the exit.

    Instagram cofounders Kevin Systrom and Mike Krieger, vice president of partnerships Dan Rose, WhatsApp cofounder Jan Koum, and policy and communications boss Elliot Schrage are just some of the execs that have announced their departures over the last year.

    As the new year kicks off, Facebook's turbulence shows no signs of abating, so Business Insider asked current and former employees a question: Who might be next to go?

    Flight risk is an important issue at tech companies like Facebook whose fortunes can hinge on the talent of product visionaries and engineers, and the degree to which Facebook can retain its top talent will influence its ability to navigate its current crisis.

    To be clear, this is informed speculation and guesswork: The sources we surveyed don't have inside knowledge of any confirmed but unannounced coming departures. But with Facebook under pressure to get its house in order, and with some executives no doubt scanning the horizon for less turbulent jobs, the names listed provide a guide to some of the company's leaders who insiders are watching attentively.

    After being provided with the list of names, Facebook spokesperson Anthony Harrison provided the following statement: "This story is based on complete speculation. None of the people you mentioned to us are planning to leave Facebook."

    SEE ALSO: Facebook endured a staggering number of scandals and controversies in 2018 — here they all are

    Justin Osofsky, vice president of global operations, program management, and integrations.

    Justin Osofsky, Facebook's vice president of global operations, was singled out most by the sources we spoke to.

    He has been at Facebook for more than a decade and is a key lieutenant of Chief Operating Officer Sheryl Sandberg, who has come under scrutiny in recent months.

    His operational role places him at the center of many woes and could potentially make him a scapegoat. "[He's] a really strong leader, but as far as places to shift blame, I think he would be next in line," one source said.

    Osofsky's activities made headlines in December 2018 when the British Parliament released a cache of internal Facebook emails and documents it had seized. The leaked correspondence laid bare the company leadership's cutthroat attitudes towards competition and growth — and some of Osofsky's emails were included.

    Joel Kaplan, vice president of global public policy.

    Apart from CEO Mark Zuckerberg and Sandberg, few Facebook execs attracted more ire in 2018 than Joel Kaplan, the company's vice president of global public policy.

    Kaplan was spotted seated behind Brett Kavanaugh during the judge's acrimonious Supreme Court confirmation hearings, and when it emerged that he was there in support of Kavanaugh, a close friend, many Facebook employees exploded in outrage.

    The 49-year-old previously served as a staffer in the George W. Bush White House, making him a rare conservative at the famously liberal company. Civil-rights groups have consistently called for his firing, citing his role in a smear campaign against Facebook critics.

    A current employee suggested he could be next to go, citing his unpopularity with some at the company.

    Dan Levy, vice president of small business.

    Dan Levy, Facebook's vice president of small business, is an attractive target for potential recruiters.

    "In terms of the best people at Facebook that's still there, you can't ignore Dan Levy, who is the one person that's responsible for Facebook's growth in the past three years," one source said.

    Levy has been at Facebook since December 2008, working as a director on payments, risk, and finance before taking on the small-business role in July 2012.

    See the rest of the story at Business Insider

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    Rudy Giuliani

    • President Donald Trump's lead defense lawyer, Rudy Giuliani, doubled down on his earlier claim that the White House should get to review and edit the special counsel Robert Mueller's report on Russian election interference before it's released to Congress or the public.
    • Giuliani first made the claim in a September interview with INSIDER, arguing that the information in the report is all protected by executive privilege and thus needs a sign-off from the White House before the public can see it.
    • On Friday, Giuliani told The Hill, "As a matter of fairness, they should show it to you — so we can correct it if they’re wrong. They’re not God, after all. They could be wrong."

    Rudy Giuliani, President Donald Trump's lead defense lawyer, is doubling down on his contention that the White House should get to review and edit the special counsel Robert Mueller's report on Russian election interference before it's released to Congress or the public.

    Giuliani first made the argument in an interview with INSIDER in September. As prosecutors put together the report, Trump's current and former lawyers said the information contained in it is protected by executive privilege.

    For that reason, they said the White House needs to sign off on the report's final version in the event that Deputy Attorney General Rod Rosenstein — who is overseeing Mueller — chooses to release it to Congress or the public.

    Giuliani told INSIDER that Trump's team would waive executive privilege if "we had an adequate opportunity to review the report before it was released to the public; if we felt that — even if we disagreed with its findings — it was fair; and if we had the chance to release a rebuttal report simultaneously that addresses all of Mueller's allegations."

    But as of now, he said, the White House "reserves its privilege." He added that Trump's legal team had a commitment to that effect from Mueller. When he was asked whether Mueller agreed to allow Trump's team to review a draft of the report before it is released, Giuliani said he wasn't sure if the two sides had reached a consensus on that.

    Read more: Giuliani lays out 3 conditions Mueller has to meet for the White House to waive executive privilege in the Russia probe

    Giuliani doubled down on his argument in an interview with The Hill on Friday.

    "As a matter of fairness, they should show it to you — so we can correct it if they’re wrong," Giuliani told the outlet. "They’re not God, after all. They could be wrong."

    Renato Mariotti, a former federal prosecutor in Chicago, told INSIDER earlier that while the White House could theoretically claim that certain information in a report from Mueller is protected by executive privilege, a court would most likely strike that argument down.

    "What the White House would essentially be saying then is that a prosecutor can obtain information from the president or the White House, but they can't do anything with it," Mariotti said. "That's a very weak argument."

    Jeffrey Cramer, a former federal prosecutor who spent 12 years at the Justice Department, said there were three main reasons why broadly asserting executive privilege would be "a hard argument to make legally, and a foolish one to make politically."

    trump oval office border speech

    In the political realm, he said that if the White House tries to "start redacting the report before it even gets to Congress, which could weigh impeachment proceedings, that's not going to fly."

    Legally, he said that based on his interpretation, the independent counsel is not part of the executive branch even though he is supervised by the Department of Justice.

    "He's a separate entity," Cramer said of Mueller. "The point of an independent counsel is to have an independent voice determine what happened. So, asserting privilege over material he's gathered seems to defeat the point of having an independent reviewer in the first place."

    Trump may have also limited himself when it comes information related to some of the most pivotal events in the obstruction inquiry — for instance, the firing of then FBI director James Comey.

    Cramer said Trump "eviscerated" any privilege assertion when he tweeted about Comey after ousting him.

    "It's like attorney-client privilege," Cramer said. "You don't have attorney-client privilege once you bring a third person into the room. And Trump didn't bring a third person in, he brought the entire American public into the room when he tweeted about why he fired Comey and talked about it to Lester Holt."

    The bottom line, he said, is that for the White House to assert executive privilege over information in Mueller's report, "it would have to be something that Trump didn't tweet or talk about. And I don't think there's much left in that universe."

    SEE ALSO: Here are all the key developments you might have missed in Russia news this week

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    NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'

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    Will Hurd

    • Republican Rep. Will Hurd, who represents more of the southern border than anyone in the House of Representatives, has emerged as one of the most vocal critics of President Donald Trump's plan to build a wall along the US-Mexico border. 
    • Hurd represents Texas' 23rd Congressional District, which stretches roughly 820 miles from El Paso to San Antonio.
    • Hurd, a former undercover CIA agent, has been pushing for what he has referred to as a "smart border wall," or a technology-based approach.
    • On Wednesday, the Texas congressman told CNN, "I think building a concrete structure sea to shining sea is the most expensive and least effective way to do border security." 

    Republican Rep. Will Hurd, who represents more of the southern border than any of his colleagues in the House of Representatives, has emerged as one of the most vocal critics of President Donald Trump's plan to build a wall along the US-Mexico border. 

    Hurd represents Texas' 23rd Congressional District, which stretches roughly 820 miles from El Paso to San Antonio.

    He has repeatedly stated that he is not in favor of Trump's wall and narrowly won reelection in the 2018 midterm elections in part by campaigning against the president's plan. 

    "I think building a concrete structure sea to shining sea is the most expensive and least effective way to do border security," the Texas congressman told CNN, on Wednesday. 

    Sections of the border spanning across California, Arizona, and New Mexico are largely already covered with physical barriers. If Trump's proposed wall (or barrier) is constructed on the southern border, much of it will occur in Hurd's district. 

    Building along the Texas border would be complicated. Not only does the border not run in a straight line, but the territory it falls on is hardly ideal for building due to the terrain. Additionally, land owned by Hurd's constituents would likely be needed for the project to be feasible, which is part of the reason he opposes the wall. The location also includes Big Bend National Park.

    Read more: Several House Republicans broke with Trump and voted with Democrats to pass 2 bills that would end the government shutdown

    "Property rights are important to all Americans — especially Texans — and most of the property along our border has been privately held for generation," Hurd told The Atlantic in April 2017. "Many Texans I speak to think there are better ways to achieve border security without taking their lands, so you can expect a lengthy and expensive fight from these folks."

    Hurd, a former undercover CIA agent who's also the only black Republican currently in the House of Representatives, has been pushing for what he's referred to as a "smart border wall." What he's calling for is a technology-based approach to border security that would involve drones and other forms of surveillance to help stop people from crossing into the US from Mexico illegally. 

    "We have driverless vehicles, we can use facial recognition software as payment for goods, and outer space is the next hot commercial travel destination. Yet we continue to debate the efficacy of a third century solution to secure our nation’s southern border," Hurd wrote in an August 2017 op-ed for USA Today

    "What we need is a 'Smart Wall' to solve our 21st century border problems," Hurd added. "A Smart Wall would use sensor, radar and surveillance technologies to detect and track incursions across our border so we can deploy efficiently our most important resource, the men and women of Border Patrol, to perform the most difficult task — interdiction." 

    Read more:Trump gave his border security speech with a photo of his impoverished, immigrant Scottish mother behind him

    Trump's fight with Democrats over obtaining funding for the border wall has led to a partial government shutdown that has now lasted over two weeks. Last week, the president said drones and sensors could be helpful in terms of protecting the border, but contended they wouldn't go far enough. 

    Trump made the wall a cornerstone of his 2016 presidential campaign (and claimed that Mexico would pay for it). However, Congress is being asked for appropriations fo the barrier, and there are conflicting estimates on how much the president's proposed border wall would cost, ranging from $21.6 billion to $70 billion. Many experts have contended Trump's wall would be an inadequate means of addressing the complex array of issues associated with immigration in the US.

    Read more:Trump's insistence on a border wall ignores the fact roughly half of all undocumented immigrants entered the country legally

    The president on Tuesday gave a speech in the Oval Office in an effort to convince the American public to support his plan, offering a number of falsehoods and misleading claims in the process.

    Trump has referred to what's happening at the border as a "crisis," but hasn't declared a national emergency, despite previous reports that he was considering it.

    Meanwhile, the government shutdown persists and it is on track to be the longest in US history. Roughly 800,000 federal workers have been impacted, some are furloughed, while others who are deemed "essential" are working without pay.

    Hurd on Tuesday night rebuked Trump and called for an end to the government shutdown. 

    "If this is a crisis, the people that are dealing with this crisis should get paid," the Republican congressman told CNN.

    Recent polls have shown most Americans blame Trump for the shutdown and oppose his proposal for a border wall.

    In December, Trump said he would be "proud" to take responsibility for a government shutdown in order to obtain funding for his border wall, but he has since placed blame on Democrats in Congress.

    A Wednesday meeting between Trump and Democratic ended when the president reportedly stormed out of the room after House Speaker Nancy Pelosi said no to funding a wall or steel barrier.

    SEE ALSO: Trump storms out of government-shutdown meeting after Democrats claim he 'slammed the table' over border wall

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    NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'

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