Quantcast
Channel: Business Insider

How much money Facebook pays for 1 million, 50 million, and 100 million views, according to a viral comedy duo

0
0

Dan Shaba and John Nonny pose together outside of a building.

Summary List Placement

When John Nonny and Dan Shaba — the two creators behind The Pun Guys and John Nonny pages on Facebook that together have 6 million followers — are recognized in public, fans typically refer to them as "YouTubers" or "TikTokers." 

"They never say, 'Those are those Facebookers,'" Shaba told Insider.

But while the Ontario-based duo do have significant followings on TikTok (860,000 followers) and YouTube (501,000 subscribers), Facebook is their primary platform. And it's where they make the most money.

After crossing paths as musicians, Shaba and Nonny found themselves collaborating on something new: comedy. Known for punny memes and quick DIY or prank videos, the two have figured out what works on the Facebook newsfeed and how to navigate what is trending on the platform.

And that's how they keep their earnings pouring in. Similar to YouTube and its Partner Program, Facebook pays eligible creators a percentage of ad revenue on videos.

The money wasn't always there. When Shaba and Nonny first started posting to Facebook in 2016, there wasn't an ad revenue-share model.

"It was very difficult to make money," Shaba said. "The only way was to do brand deals and those sorts of things, which wasn't really sustainable for the long term."

In 2017, however, Facebook started rolling out its own in-stream ad program. To qualify, a page must have 10,000 followers, 600,000 minutes of total watch-time in the past 60 days, and at least five active videos. That's a higher bar than YouTube, where creators need 1,000 subscribers and 240,000 minutes of watch time.

Facebook is what works best for Nonny and Shaba's content.

Today, their videos, which they upload several times a week to their two accounts, regularly garner at least one million views. On average, a million views pays about $1,000, Shaba said. Sometimes, a video with about one million views can earn upwards of $1,500 depending on the CPM rate, Nonny added. (Insider verified these earnings with screenshots of their Facebook creator studio.)

YouTubers often earn more money than that for a video with a million views, but those videos are typically longer and can have multiple mid-roll ads. YouTuber Jade Darmawangsa, for example, told Insider in 2020 that she earned $3,600 for a video with 1.2 million views, but that video was 10 minutes long. Shaba and Nonny's videos are usually around 3 minutes long.

Screenshot of The Pun Guys Facebook page.

Earnings start to plateau once a video hits 50 million views 

When a video hits 50 million views, earnings start to drop off a bit, the two said.

For videos with about 50 million views, the duo's earnings fall between $40,000 and $50,000.

A video with over 100 million views can earn the pair between $80,000 and $100,000, they said. But their videos only reach that threshold three to four times a year – "if we're lucky."

(Insider verified these estimates with screenshots of their creator studio dashboard.) 

How Facebook differs from YouTube and TikTok

Nearly all of the videos posted by the Pun Guys have timestamps of 3:02 or 3:32. The reason is pretty straightforward: In order to qualify for revenue share on Facebook, videos must be at least three minutes long.

But any longer, and it may not pop off: Short videos on Facebook do well because people aren't coming to the app to sit down and watch videos like they are on YouTube, Nonny said. 

While there's no minimum length requirement on YouTube, most videos go over 10 minutes to optimize ad revenue through multiple ad breaks. Meanwhile, on TikTok, videos are often no longer than 60 seconds. 

Two men laughing. Pictured is Dan Shaba and John Nonny of The Pun Guys.

Partially because Facebook videos have to grab the attention of someone who didn't necessarily plan on tuning in, they have a reputation for being clickbait and teasing "gotcha" or mindblowing endings that trail viewers along until the very last second.

Nonny said it's something the pair has to balance, especially in making sure viewers don't drop off before the ad break.

"There's a fine line between being straight up corny and baity, and just trying to make your videos where it's entertaining enough where they want to see the climax," Nonny said.

Join the conversation about this story »

NOW WATCH: Why some Coca-Cola bottles have a yellow cap


An NFT collection inspired by the 16th-century Dutch tulip bubble is drawing flocks of bidders — and one has sold for more than $50,000

0
0

Skagit Valley mount vernon tulips

Summary List Placement

An NFT collection of pixelated flowers inspired by the Dutch tulip bubble is attracting crypto buzz, with one selling for more than $55,000.

The collection of 50 NFTs, launched on Monday, are an explicit tribute to the 16th-century Dutch mania that saw multicolor tulip bulbs sold for massively inflated prices before crashing. At the peak of the bubble, one tulip bulb sold for 20 times the yearly income of a skilled worker, according to the BBC

The collection — pitching itself as paying "homage to the investors who risked it all to make a fortune"— sold out on NFT marketplace OpenSea within hours, according to the artist

One NFT in the collection sold for as high as 17.5 ether, worth about $55,785 at Wednesday prices. 

The tulip mania that swept Dutch society has become a modern parable for how the madness of crowds can drive rampant price speculation — on the "greater fool" theory that another person will always buy your overpriced flower — eventually leading to a devastating crash. 

But in recent years, many scholars have noted that the tulip bubble's history is often oversimplified. In particular, they say that the "mania" was contained to a small number of frenzied speculators, rather than being a society-wide phenomenon. Evidence that anyone was financially ruined by the crash in tulip prices is thin.

Still, some commentators have used the tulip bubble to frame today's meme-stock and crypto phenomena, pointing to skyhigh prices for GameStop and AMC shares or bitcoin as portents of a coming collapse.

Join the conversation about this story »

NOW WATCH: Why I'm throwing away every plastic thing in my kitchen ASAP

Marcus by Goldman Sachs personal loans review: Fee-free lender with low rates for borrowers with good credit

0
0

Marcus by goldman sachs logo on Personal Finance pattern background

Table of Contents: Masthead StickySummary List Placement 

Should you use Marcus by Goldman Sachs?

You may like Marcus by Goldman Sachs if you ... You may not like Marcus by Goldman Sachs if you ... 
  • Can take advantage of the lender's on-time payment reward
  • Want to avoid origination fees and late payment penalties
  • Are looking for a strong mobile app
  • Want preapproval to compare rates with other lenders
  • Want to borrow more than $40,000
  • Have a credit score below 670
  • Can find a lower APR with a competitor
  • Want to file a joint application

Loan amounts and interest rates

Marcus Personal Loan personal loan amounts range from $3,500 to $40,000 and can be repaid over three to six years, depending on the agreement you strike with the lender.

Marcus' lowest APR of 6.99% is marginally higher than comparable lenders. With SoFi, you can get a rate as low as 4.78%, and LightStream has a minimum APR of 2.49%. You should note that your credit will have to be in good shape to qualify for the best rates with these lenders. 

On the bright side, Marcus has roughly the same maximum APR as similar companies. Marcus' top rate is 19.99%, the same as Lightstream's maximum, and SoFi's is slightly lower at 19.38%. Shop around with different companies to see which will offer you the best terms. 

How Marcus by Goldman Sachs works

Marcus Personal Loan offers unsecured personal loans through Goldman Sachs Bank USA (Member FDIC). Collateral, like a house or a car, isn't needed to get an unsecured personal loan. You can take out a personal loan for a variety of purposes, including debt consolidation, home improvement, and vacations. 

Depending on when your application is approved, it will take between one to four business days to receive money in your account from Marcus. You won't pay any fees with the company. 

A unique feature of Marcus is that the company offers an "on-time payment reward." You can skip a month of payments if you pay your loan on time and in full every month for one year, and you won't rack up interest during that period. Your loan will then be extended by one month. This pause in payments could help you put money toward other financial goals for a month, like your emergency fund, retirement, or higher-interest debt. 

To contact customer support, call the lender Monday through Friday, 8:00 a.m. to 10 p.m. ET, or on weekends from 9:00 a.m. to 7:00 p.m. ET. If calling doesn't work for you, you can also mail correspondence to Marcus' Utah address. 

Marcus also has a sleek mobile app on the Google Play and Apple stores that allows you to manage your loan on the go. 

You'll need to meet the following requirements to apply for a personal loan with Marcus:

  • Be at least 18 years old (19 years old in Alabama, 21 in Mississippi and Puerto Rico)
  • Have a valid US bank account
  • Have a valid social security or individual tax ID number

Pros and cons

How to get a Marcus by Goldman Sachs personal loan

The application is available online or over the phone and can be completed in several minutes. Marcus doesn't allow you to file a joint application. You'll need basic information for the initial application, including:

  • Name
  • Date of birth
  • Contact information including your address, phone number, and email
  • Total annual income
  • Monthly housing payment
  • Source of income
  • Employment status
  • Social Security number 

Marcus Personal Loan may ask you for several documents to verify your information, including:

  • A bank statement
  • Recent pay stubs
  • Contacting your employer directly

After you apply and your loan is approved, you will probably get your money within one to four business days.

What credit score do you need?

Marcus Personal Loan doesn't list a minimum APR to be eligible for a loan, however, you'll probably need a score of 670 or above to qualify for good rates. This suggested score is comparable to similar personal loan lenders. For instance, SoFi's minimum is 680, and the lowest score Lightstream will accept is 660. 

You can find your credit report for free on annualcreditreport.com from any of the three major credit bureaus weekly through April 20, 2022. While this report won't give you your credit score, it will show you information about your credit and payment history, which lenders use to decide whether to give you a loan. Reviewing your credit report can help you know what you need to improve. 

You can find your score at no cost on your credit card statement or online account. You can also pay for it from a credit reporting agency. 

Your credit score won't be affected when you check your rates with Marcus, as the lender will only perform a soft credit inquiry. Keep in mind that before finalizing your loan, Marcus will perform a hard credit inquiry, which will likely impact your credit score. A hard inquiry offers a lender a complete view of your credit history, but it might negatively affect your credit score.

If you are interested in getting a personal loan from Marcus but need to improve your credit score to do so, here are some tips that may help you boost your score: 

  • Request and review a copy of your credit report. Look for any mistakes on your report that could be lowering your score. If so, ask the credit bureau about fixing the errors.
  • Keep low credit card balancesMaintaining a credit utilization rate — the percentage of your total credit you're using — of 30% or less will prove to lenders that you can manage your credit responsibly.
  • Create a system for paying bills on time. Your payment history makes up a substantial portion of your credit score, and lenders want to see consistent and reliable past payments. Make calendar reminders or automatic payments to make sure you don't forget any of your obligations.

Is Marcus by Goldman Sachs trustworthy?

Marcus Personal Loan is a Better Business Bureau-accredited company, and the BBB gives Marcus an A+ in trustworthiness. The BBB measures trustworthiness by reviewing businesses' replies to consumer complaints, honesty in advertising, and transparency about business practices. 

However, a great BBB rating doesn't necessarily mean you'll have a positive relationship with Marcus, so ask friends and family about their experiences with the company and look over consumer reviews online. 

Marcus does not have any recent controversies. You might feel comfortable choosing Marcus as your personal loan lender due to its sparkling history and top-tier BBB rating.

 

How Marcus by Goldman Sachs compares

Marcus Personal Loan interest rates are similar to those offered by comparable lenders — though rates will depend on your particular profile. Here's how Marcus compares to the competition:

Marcus Invest (Goldman Sachs) LogoSoFi LogoLighstream Logo

Min. credit score

Unspecified

Min. credit score

680

Min. credit score

660

APR

Marcus Personal Loan

APR

SoFi personal loan

APR

LightStream Personal Loan

Origination fee?

No

Origination fee?

No

Origination fee?

No

Marcus Personal LoanSoFi Personal LoanLightStream

Marcus by Goldman Sachs review vs. SoFi review

Marcus Personal Loan has no minimum credit score requirement, but in general, you'll need a credit score of 670 or above to qualify for a good rate.

You'll need a higher minimum credit score to qualify for a personal loan with SoFi,  and the company's APR range is similar to what Marcus requires. If you have top-notch credit, you might qualify for a marginally lower APR with SoFi than Marcus, but the difference is slim. 

You won't pay any origination fees, prepayment penalties, or late payment fees with either lender, making both a great option to skip out on added costs to your loan. 

Marcus' loan term range of three to six years is slightly smaller than SoFi's range of two to seven years. If you want to spread out your payments over more time, SoFi may be a better option for you. 

Marcus by Goldman Sachs review vs. Lightstream

Lightstream's minimum APR of 2.49% is substantially lower than Marcus' minimum APR of 6.99%, though you'll only qualify for Lightstream's best rate with excellent credit. Additionally, you can take out up to $100,000 with Lightstream, while you can only take out a maximum of $40,000 with Marcus. Neither company charges origination fees or prepayment penalties. 

While it would be easiest to compare offers to find out which rate is better for you, Lightstream does not offer preapproval and would require you to submit an application and agree to a hard credit pull to get your rates. Marcus offers preapproval online. 

A distinguishing feature of Marcus' personal loans is the company's "on-time payment reward." If you pay your loan on time and in full every month for one year, you can skip a month of payments, and interest will not accrue during that period. Your loan will then be extended by one month. You may prefer Marcus if you'd want to take advantage of this perk. 

 

Related Content Module: More on Loans

Join the conversation about this story »

Yelp has removed thousands of 'review bombing' attempts that target businesses' COVID-19 safety measures, such as vaccine requirements

0
0

Kindrick Brooke checks a vaccination card outside Risky Business in the North Hollywood neighborhood of Los Angeles, California on May 21, 2021.

Summary List Placement

Bars and restaurants that list their vaccine requirements on Yelp are being hit with one-star "review bomb" attempts proactively removed by Yelp, WSJ reported on Tuesday.

While Yelp's content guidelines require that reviews be based on first-hand customer experience, some users are taking to the platform to post opinions on COVID-19 vaccine and mask mandates. 

"Not sure why my review was removed," one user wrote in a since-removed one star-review on the Yelp page for cocktail bar The Alembic in San Francisco. "This bar has recently implemented a medical apartheid which is just horrific." 

Insider's Allana Akhtar spoke to Kathryn Kulczyc, the co-owner and general manager of The Alembic earlier this August. Kulczyc said that while the negative Yelp reviews were harmful, she believed requiring proof of vaccination was the best way to protect her staff from the virus. 

"People were calling us Nazis," Kulczyc told The Wall Street Journal."Saying that we supported the devil because we wanted proof of vaccination."

Attempted review bombings on Yelp are not entirely new — when the company launched a feature that highlighted minority-owned businesses in response to the Black Lives Matter movement, a similar system was put in place to remove hateful or racist reviews that violated content guidelines.

Yelp launched "unusual activity alerts" as a way to detect cases of review bombing. Triggered by abnormal spikes in page traffic, Yelp moderators can freeze the businesses' page and delete posts in violation of the app's content guidelines. However, this risks positive reviews from being frozen as well. 

"When a business gains public attention, people often come to Yelp to express their views on the matter," wrote on the company website. "Mitigating against these 'review bombing' events has become a significant issue for online review platforms." 

She added that Yelp is proactively monitoring pages that choose to indicate their vaccine requirements on the app in order to avoid "backlash."

Join the conversation about this story »

NOW WATCH: How the 1999 Russian apartment bombings led to Putin's rise to power

The best online sales and deals happening now, including discounts from Casper, Chewy, and Embark

0
0
 

Scissors cut yellow discount coupons with

Summary List PlacementTable of Contents: Masthead Sticky

We rounded up the best sales and deals happening online today, including discounts at Casper, Twillory, and Nisolo.

Deals in this story are subject to change throughout the day. The prices listed reflect the deal at the time of publication. For even more deals and savings across the web, check out our roundup of the best deals from Amazon.

The best sales and discounts happening right now

Get 15% off select mattresses at Casper

Shop the Casper Labor Day Sale now.

Mattress retailers love Labor Day Sales, and Casper is no exception. Select mattresses, including the luxe Wave Hybrid and Nova Hybrid, are 15% off just for the occasion. Everything else on the site is also 10% off. 

Best-Selling Bundle (Queen) (medium)Nova Hybrid Mattress (Queen) (medium)

Get up to 40% off at Twillory

Shop the Twillory Summer Warehouse sale now.

For shirts that can stand up to a full day's work and then some, Twillory is the place to go. The brand's performance dress shirts are wrinkle-resistant and prevent sweat, making them a solid choice for a day of rigorous wear. 

Non-Iron Purple Cube Weave Shirt (medium)Untuck(able) Linen Blue Shirt (medium)

Save on Nisolo footwear

Shop the Nisolo Semi-Annual Sale now.

Nisolo doesn't hold sales often, making its huge Semi-Annual Sale worth looking into. With comfortable and stylish shoes for every gender, Nisolo's lineup has something for everyone. The brand's Chelsea Boot even made it into our roundup of the best ankle boots

Emilio Chukka Boot (medium)Smoking Shoe (medium)

Get a $30 gift card when you spend $100 at Chewy

Shop the Chewy sale now

Celebrate National Dog Day this week by purchasing treats, food, or toys for your furry friend. Right now, when you spend $100 on select items at Chewy, you can score a $30 gift card. 

Classic Dog Toy (medium, Preferred: Chewy)Classic Launcher Dog Toy (medium)

Get up to 50% off at Columbia Sportswear

Shop the Columbia sale now

Right now, you can save up to 50% off boots, jackets, pants, and tops during Columbia's Summer Sale. Get discounts on some of Columbia's best-selling apparel. 

Women's Heavenly Long Hooded Jacket (medium, Preferred: Columbia)Men's Steens Mountain Full Zip Fleece Hoodie (medium, Preferred: Columbia)

Get up to 50% off at Reformation

Shop the Reformation sale now

Reformation is a sustainable clothing brand selling mostly online, with a few retail stores around the US. Right now, you can get up to 50% off dresses, tops, and jeans. Everything is final sale, so make sure you know your sizes before purchasing items. 

Lillet dress (medium)Fonda dress (medium, Preferred: Reformation)

Get up to 70% off at Mango

Shop the Mango sale now

Mango is having its Final Clearance Sale going on now where you can get up to 70% off tops, bottoms, dresses, and shoes. 

Belted cotton jumpsuit (medium, Preferred: Mango)Fitted blazer with pocket (medium, Preferred: Mango)

Get $50 off the Embark Breed and Health Kit

Shop the Embark discount now.

If you've ever wondered what kind of dog you have, Embark's Breed and Health Kit can give you those answers. Plus, the test will tell you genetic health conditions and ancestry. You can save $50 on the test using the exclusive promo code INSIDER at check out. Read our full review of the Embark Breed and Health Kit here.

Breed + Health Kit (medium, Preferred: Embark)

Get 30% off your first month at Pawp

Get the Insider-exclusive discount at Pawp now

Save 30% on your first month's subscription to Pawp. Get 24/7 access to vets and other pet experts through unlimited telehealth appointments for your cat and dog. Use the link to get an Insider-exclusive discount on your first month. 

First Month Subscription (medium)

Get 25% off your first order at Fuzzy

Shop the Insider-exclusive sale at Fuzzy now

New customers can get 25% off sitewide at Fuzzy using the Insider-exclusive promo code INSIDER25 to save on all pet products. 

Itch Relief Spray (medium)Cat Dental Bundle (medium)

The best deals and sales available now

  • Anthropologie: Get an extra 25% off sale items.
  • Athleta: Get up to 50% select swimwear through August 31. 
  • Backcountry: Get up to 60% off The North Face gear. 
  • Bare Necessities: Get up to 40% off bras during the Top Drawer sale event. 
  • Bed, Bath, and Beyond: Get 20% off all college essentials.
  • Cara: Get 70% off all swimsuits. 
  • Chewy: Save with Chewy Summer Deals.
  • The Farmer's Dog: Get 50% off your first box. 
  • Grove Collaborative: Get a free gift set of your choice, including a Mrs. Meyer's set valued at over $50 when you spend $20. 
  • Kohl's: Get 30% off Levi's jeans and jackets.
  • The Happy Planner: Get up to 75% off during the Virtual Warehouse Sale.
  • HBO Max: Get $25 off an annual plan after adding the promotion to your American Express card. 
  • Levi's: Get 30% off select Trucker jackets for men and women. 
  • Merrell: Get up to 50% off sneakers, sandals, and hiking shoes during the end of season sale. 
  • Olay: Get 25% off sitewide. 
  • Plants.com: Get 20% off plants for the office with promo code OFFICE20
  • Pottery Barn: Get up to 70% off bedding, furniture, and kitchenware. 
  • Ray-Ban: Get up to 50% off select sunglasses. 
  • Sur la Table: Get up to 75% off kitchenware. 
  • Verishop: Get up to 60% off apparel, home, and more. 
  • William Sonoma: Get up to 75% off clearance items during the summer sale.

Read more about how the Insider Reviews team evaluates deals and why you should trust us.



Discover personal loans review: Lender with low maximum loan amounts but no origination fee

0
0

Discover personal loans logo on Personal Finance pattern background

Table of Contents: Masthead StickySummary List Placement 

Should you use Discover Personal Loans?

You may like Discover if you ... You may not like Discover if you ... 
  • Are interested in the lender's 30-day money-back guarantee
  • Want to avoid origination and prepayment fees
  • Are looking for a low, competitive APR
  • Want to borrow more than $35,000
  • Want to file a joint application
  • Fear you might incur a late fee

Loan amounts and interest rates

Discover Personal Loans personal loan amounts range from $2,500 to $35,000 and can be repaid over three to seven years, depending on the agreement you strike with the lender.

Discover's lowest APR of 6.99% is roughly the same or lower than comparable lenders. Marcus' minimum rate is also 6.99%, and LendingClub's lowest rate is 8.05%. Keep in mind that you'll need to have good credit to qualify for the best rates. 

However, Discover's top APR of 24.99% is middle of the pack compared to similar companies. Marcus' top rate is 19.99%, while LendingClub's is 35.89%. See what your rates are at different companies before settling on one to take out a loan from. 

How Discover works

Discover Personal Loans offers unsecured personal loans that can be used for many reasons, including debt consolidation, home improvement, and vacations. You don't need collateral, like a house or a car, to get an unsecured personal loan

Depending on when your application is approved, your money could be received as soon as the next day with Discover. You won't pay any origination fees or prepayment penalties with the company, but you may be charged a $39 fee for late payment.  

A unique feature of Discover is its 30-day money-back guarantee. If you decide within 30 days of getting your loan that you no longer want it, you can send back the funds via check and won't be charged any interest. This perk may be helpful if you find a lender with a lower rate or if you end up not needing the loan amount you initially requested. 

To contact customer support, call the lender Monday through Friday, 8:00 a.m. to 11 p.m. ET, or on weekends from 9:00 a.m. to 6:00 p.m. ET. If calling isn't the best work for you, you can also send mail to Discover's Utah address. 

Discover Personal Loans has a well-reviewed app that has received 4.8 out of 5 stars on the Apple store and 4.6 out of  5 stars on the Google Play store. This is useful if you want to manage your loan on the go. 

You'll need to meet the following requirements to apply for a personal loan with Discover:

  • Be at least 18 years old
  • Be a U.S. citizen or permanent resident
  • Have a minimum household income of at least $25,000

Pros and cons

How to get a Discover personal loan

You can find the application online or over the phone, and you can complete the application in several minutes. Discover doesn't allow co-signers. You'll need basic information for the initial application, including:

  • Name
  • Date of birth
  • Contact information including your address, phone number, and email
  • Your personal ID number, if you received an offer in the mail
  • Household income
  • Employment history
  • Bank account number and routing number
  • Creditor information if you're using the loan to consolidate debt

Discover Personal Loans might need several documents from you to verify your information, including:

  • A bank statement
  • Recent pay stubs
  • A work email address
  • Contacting your employer directly

After you apply and your loan is approved, you can get your money as soon as the next business day. 

What credit score do you need?

Discover Personal Loans doesn't have a minimum credit score to qualify for a loan and instead will make its approval decision based on other financial factors. Other comparable lenders have no specified minimum, such as Marcus by Goldman Sachs and LendingClub. That said, you'll likely receive a better rate with a higher score.

If you need to access your credit report, you can get it at no cost from any of the three major credit bureaus on annualcreditreport.com weekly through April 20, 2022. This report will give you information about your payment and credit history — though it won't provide you with your credit score. Looking over your credit report can help you spot errors and find areas for improvement.

You can get your score for free on your credit card statement or online account. You can also buy it from a credit reporting agency.

If you check your rates with Discover, your credit score won't be negatively impacted, as the lender will only generate a soft credit inquiry. However, before your loan is finalized, Discover will perform a hard credit inquiry, which will probably affect your credit score. A hard inquiry gives a lender a comprehensive view of your credit history, but it may ding your credit score.

If you want to get a personal loan from Discover but need to boost your credit score to do so, here are some steps you may want to take to improve your score: 

  • Ask for and review a copy of your credit report. Search for any mistakes on your report that could be tanking your score. If so, ask the credit bureau about correcting the errors.
  • Maintain low credit card balancesKeeping a credit utilization rate — the percentage of your total credit you're using — of 30% or less will show lenders that you can handle your credit responsibly.
  • Design a system for paying bills on time. Your payment history makes up a significant portion of your credit score, and lenders want to see consistent and reliable past payments. Set up calendar reminders or automatic payments to make sure you don't skip out on any of your obligations.

Is Discover trustworthy?

Discover Personal Loans is a Better Business Bureau-accredited company, and the BBB gives Discover an A+ in trustworthiness. The BBB evaluates trustworthiness by reviewing businesses' responses to customer complaints, truthfulness in advertising, and openness about business practices. 

However, a top-notch BBB rating doesn't guarantee a positive relationship with Discover, so look over reviews on the internet and ask friends and family about their experiences with the company. 

Discover does not have any controversies over the past several years. You may feel comfortable choosing Discover as your personal loan lender due to its clean history and great BBB rating.

 

How Discover compares

Discover Personal Loans rates are similar to those offered by comparable lenders — though rates will depend on your particular profile. Here's how Discover compares to the competition:

discover bank logo

Marcus Invest (Goldman Sachs) LogoLending Club logo

Min. credit score

Unspecified

Min. credit score

Unspecified

Min. credit score

Unspecified

APR

Discover Personal Loan

APR

Marcus Personal Loan

APR

Personal Loans

Origination fee?

No

Origination fee?

No

Origination fee?

Yes

Discover Personal Loans

Marcus Personal Loan

Personal Loans

Discover review vs. Marcus by Goldman Sachs review

Neither Discover nor Marcus by Goldman Sachs has a minimum credit score requirement, but if you have a lower credit score, your APR may be higher with Discover than Marcus. The top end of Discover's APR range is 5% higher than Marcus' range. If your credit is in good shape, you'll likely pay a similar rate with both lenders. 

You won't pay any origination fees or prepayment penalties with either company, but Discover may charge a late fee of up to $39. If you're worried about potentially missing a payment, Marcus may be the better option for you. 

Marcus offers a loan term range of three to six years, which is slightly smaller than Discover's range of three to seven years. Discover's seven-year repayment term will allow you to reduce your monthly costs, but you'll pay more in interest over the life of the loan. 

Discover review vs. LendingClub review

Discover has a better APR range than LendingClub, as you can get a minimum rate over 1% lower with Discover than LendingClub, and a maximum rate over 11% lower. Neither lender has a minimum credit score requirement. 

LendingClub's repayment terms are either three or five years, while Discover's terms range from three to seven years. If flexible repayment options are important to you, Discover may be the better choice. 

A distinguishing feature of Discover is its 30-day money-back guarantee on its personal loans. If you decide within 30 days of receiving your loan that you no longer want it — perhaps you found a better rate elsewhere — you can return the funds via check and won't be charged any interest. 

 

Related Content Module: More on Loans

Join the conversation about this story »

A complete guide to Amazon's return policies

0
0
 

amazon warehouse

Summary List PlacementTable of Contents: Masthead Sticky

Amazon is one of the most convenient sites to shop for everything, from gifts to daily essentials. The massive online retailer offers a ton of products to choose from, including tons of tech, outdoor gear, beauty and grooming products, and fashion for the entire family.

But what if that Kindle e-reader or cashmere sweater you buy doesn't work out as you planned? To help you shop worry-free, it may be helpful to learn the ins and outs of Amazon's return policy.

While some products vary based on the category and return reason, most new and unused items can be returned to Amazon within 30 days. Below, we've answered the most common questions about Amazon's return policy— including how to make a return, what items are eligible, and when to expect your refund.

What is the Amazon Prime return policy?

Typically, most items purchased with an Amazon Prime account have a 30-day return window. Some products may vary based on product category or seller.

Are there free returns on Amazon Prime?

Most items delivered within the US qualify for free returns. To confirm that an item qualifies, you can look to see if it has "Free returns" listed next to the price. There are a few exceptions for things like items that weigh more than 50 pounds, fashion items purchased from The Drop, and products bought through third-party sellers. 

How do you return things to Amazon?

To start a return, visit the "Your Orders" page under your account. From there, select "Return or Replace items," choose your return method, print the label, and package for shipping. 

In addition to shipping your item, you can also choose the Label-Free, Box Free option and bring your unwrapped item to drop off with a provided QR code. Amazon continues to expand its network of participating locations, but as of writing, here are your options:

  • Amazon Physical Stores: Customers can walk into one of Amazon's physical locations, like Amazon Books or Amazon 4-Star stores, show the QR code, and complete the return there, just as long as the product comes with its original box. 
  • Amazon Hub Locker and Locker+: Shoppers can use Amazon Lockers to return items in a box or shipping envelope and use the barcode or six-digit code sent after starting a return to place the item in the slot. Some Locker+ locations allow shoppers to use the free packing materials available onsite.
  • Kohl's: You can now return eligible Amazon items, without a box or label, at a Kohl's near you. With over 1,000 stores nationwide, it should be relatively easy for you to find a Kohl's and drop off your Amazon return.
  • UPS: Select UPS locations offer free no-box and no-label return drop-off. Other locations offer free returns using pre-paid mailing labels. 
  • Whole Foods Market: Some Whole Foods locations have free no-box and no-label return drop off for eligible items. Some Whole Foods also offer Amazon Locker and Amazon Locker+ return options.

Will I have to pay a restocking fee?

You'll never have to worry about a restocking fee if you're returning an item that arrived defective. Similarly, if you change your mind and return an undamaged item within the 30-day return window, you won't have to pay either.

The most common situation in which you'd owe a fee is if you return an item that isn't in its original condition or you miss the return window. The exact amount depends on your situation, per Amazon's guidelines

What items are not eligible for a return?

Unless they arrive damaged or defective, certain items cannot be returned. Some of these include groceries, customized or personalized products, gift cards, downloadable software, and subscription services after they've been accessed. You can find out if an item is non-returnable under the "Your Orders" page. 

When can I expect a refund?

You should expect it to take around 2-3 weeks total to receive your refund, including the time it takes to ship, receive, and process the return. Most refunds are fully refunded within 7 days of receiving your item, but you can read more about estimated return times here.

Read more about how the Insider Reviews team evaluates deals and why you should trust us.

Join the conversation about this story »

We updated our Netflix org chart after key exec shuffles including its talent, TV, and marketing leadership (NFLX)

0
0

Netflix execs Bajaria and Ted Sarandos pose together on the red carpet.

Summary List Placement

Netflix has radically transformed its leadership over the past year, as international growth took center stage at the company and a growing roster of rivals rose to challenge it.

The streaming company named its content chief as co-CEO, appointed its first chief operating officer, hired a new marketing boss, and overhauled its TV division to function more like a traditional studio, among other changes made in the last year.

In the past three months alone, COO and product chief Greg Peters hired former PepsiCo exec Sergio Ezama as the streamer's new talent chief; CMO Bozoma Saint John poached a former Spotify exec for a key role; global TV boss Bela Bajaria elevated longtime content VP Peter Friedlander to a crucial position overseeing US scripted series; and chief content officer (and co-CEO) Ted Sarandos shook up its creative leadership in the Asia-Pacific region.

As the power dynamics shift at Netflix, we've updated our organizational chart of the top executives at the streaming company and who they report to. The interactive project was last updated on August 25, 2021.

We've mapped out the roles of rising stars like Minyoung Kim, the content VP in charge of Netflix's creative endeavors in most of Asia, as well as key recent hires such as game development VP Mike Verdu. 

We've also removed from the chart other key execs who have exited the company, like Ty Warren, the former VP of physical production; previous chief talent officer Jessica Neal; and former content VP Cindy Holland.

Read more about Netflix's recent executive changes and explore the interactive org chart

Join the conversation about this story »

NOW WATCH: Why scorpion venom is the most expensive liquid in the world


Wells Fargo Active Cash card review: 2% cash back with no strings attached and no annual fee

0
0
 Table of Contents: Masthead StickySummary List PlacementWells Fargo Active Cash℠ Card

Review: Is the Wells Fargo Active Cash the best credit card for you?

There's a lot to like about the Wells Fargo Active Cash℠ Card, and that's especially true if you're looking for a card that offers a high rate of rewards without rotating categories or earning caps. The Wells Fargo Active Cash℠ Card earns a flat 2% cash back for each dollar you spend, and without any hoops to jump through.

This card also comes with no annual fee, and new cardholders get an introductory 0% APR on purchases and balance transfers for 15 months, followed by a variable APR of Wells Fargo Active Cash℠ Card.

The Wells Fargo Active Cash℠ Card starts you off with a Wells Fargo Active Cash℠ Card, which makes it more rewarding than its closest cash-back competitor — the Citi® Double Cash Card. Most people know the Citi® Double Cash Card as the other major rewards card that offers 2% back on all purchases, but there are some major differences.

Read more: The best no-annual-fee credit cards of 2021

With the Citi® Double Cash Card, you earn 2% back but your rewards are doled out in two segments — you get 1% when you make a purchase and another 1% when you pay it off. Also note that the Citi® Double Cash Card does not offer a sign-up bonus, and that its 0% introductory APR only applies to balance transfers and not to purchases.

If you opt for the Wells Fargo Active Cash℠ Card instead, you'll get the chance to earn a sign-up bonus and 2% back for each dollar you spend, and the card comes with benefits like cell phone protection and Visa Signature Concierge to boot.

Comparison: Wells Fargo Active Cash vs other Wells Fargo credit cards

 

Wells Fargo Active Cash℠ Card

Wells Fargo Platinum Card

Hotels.com Rewards Visa®️ Credit Card

Annual fee

Wells Fargo Active Cash℠ Card

Wells Fargo Platinum Card

Hotels.com Rewards Visa®️ Credit Card

Rewards rate

2% cash back on all purchases

N/A

Collect 1 stamp each time you spend $500 on card purchases

(10 stamps = 1 rewards night)

Welcome bonus

Wells Fargo Active Cash℠ Card

N/A

Get 2 reward nights worth $250 total (max $125 per night)* when you spend $1,000 in purchases in the first three months

Card benefits

Cell phone protection

Visa Signature Concierge

Roadside dispatch

Travel and emergency assistance services

Emergency cash disbursement and card replacement

Access to the Visa Signature Hotel Collection

 

Cell phone protection

 

Automatic Hotels.com Silver status for the first 12 months of account opening

Cell phone protection

Secondary car rental insurance

Trip interruption and cancellation insurance

Travel accident insurance

Roadside dispatch 

Travel and emergency assistance services

Emergency cash disbursement and card replacement

 

Introductory 0% APR offer

0% intro APR on purchases and balance transfers for the first 15 months (then a Wells Fargo Active Cash℠ Card variable APR)

0% intro APR on purchases and balance transfers for the first 18 months (then a Wells Fargo Platinum Card variable APR)

 

N/A

Foreign transaction fee

Yes

Yes

No

*Welcome bonus reward nights on the Hotels.com Rewards Visa®️ Credit Card exclude taxes and fees, and if your reward night costs less than $125, you won't get the difference

Wells Fargo Active Cash Card vs other cash-back credit cards

 

Wells Fargo Active Cash℠ Card

Citi® Double Cash Card

Chase Freedom Unlimited®

Annual fee

Wells Fargo Active Cash℠ Card

Citi® Double Cash Card

Chase Freedom Unlimited®

Rewards rate

2% cash back on all purchases

1% cash back when you buy, plus 1% cash back when you pay your bill

5% cash back (5x points) on travel purchased through Chase Ultimate Rewards

3% cash back (3x points) on dining and drugstore purchases

1.5% cash back (1.5x points) on everything else

Welcome bonus

Wells Fargo Active Cash℠ Card

N/A

Chase Freedom Unlimited®

5% cash back (5x points) at grocery stores (excluding Target and Walmart) on up to $12,000 in spending during the first year of account opening (then 1x)

Card benefits

Cell phone protection

Visa Signature Concierge

Roadside dispatch

Travel and emergency assistance services

Emergency cash disbursement and card replacement

Access to the Visa Signature Luxury Hotel Collection

Access to Citi Entertainment 

Purchase protection

Extended warranty

Car rental insurance (secondary in the US, primary otherwise)

Trip interruption/cancellation insurance

Travel and emergency assistance services

Introductory 0% APR offer

0% intro APR on purchases and balance transfers for the first 15 months (then a Wells Fargo Active Cash℠ Card variable APR)

0% intro APR on balance transfers for the first 18 months, then Citi® Double Cash Card

0% intro APR on purchases and balance transfers for the first 15 months, then a 14.99%–23.74% variable APR

Foreign transaction fee

Yes

Yes

Yes

Review

 

Citi Double Cash card review

Chase Freedom Unlimited card review

How to earn cash back with the Wells Fargo Active Cash Card

The Wells Fargo Active Cash℠ Card offers 2% back on everything you buy with no rewards category limitations or quarterly activation. This means you can use it for all your purchases and earn this flat rate of rewards for each dollar you spend.

Read more: The best cash-back credit cards of 2021

It doesn't get any more simple than that, which is one of the biggest upsides of this card. 

How to redeem rewards from the Wells Fargo Active Cash

Rewards earned with the Wells Fargo Active Cash℠ Card belong in the Wells Fargo Go Far Rewards program, which means you can redeem them in several ways. For example, you can:

  • Redeem to cover purchases charged to your card in amounts starting at $1 in rewards
  • Redeem for statement credits to a Wells Fargo mortgage, loan, or credit product account
  • Redeem at an ATM in increments of $20, although you'll need a Wells Fargo debit card to do so
  • Cash in your rewards for gift cards
  • Use your rewards to book travel, including airline tickets

This kind of flexibility is good news for consumers who want more than one way to redeem their cash back. However, you should note that a few of the redemption options available are only for Wells Fargo customers, including payments to Wells Fargo loan products and cash back at an ATM. 

Read more: Many people are reconsidering earning travel rewards, but it's impossible to get stuck with flexible credit card points that work for both travel and cash back

Benefits and features

The Wells Fargo Active Cash℠ Card comes with decent benefits for a no-annual-fee card. 

Introductory 0% APR on purchases and balance transfers

New Wells Fargo Active Cash℠ Card cardholders are eligible for a 0% APR on purchases and balance transfers for 15 months, followed by a variable APR of Wells Fargo Active Cash℠ Card

Read more: The best low-interest and 0% APR credit cards

Cell phone protection

Pay your phone bill with your Wells Fargo Active Cash℠ Card and you'll become eligible for cell phone protection coverage. This benefit is worth up to $600 per claim against damage or theft, although a $25 deductible applies. There's a maximum of two claims per 12 month period.

Read more: The best credit cards with cell phone protection

24/7 Concierge Service

Visa Signature concierge can help you make travel or dining plans or provide other types of personal assistance. This benefit is offered for free and 24 hours a day provided you're a Wells Fargo Active Cash℠ Card customer.

Read more: Visa Signature credit cards offer perks at luxury hotels and benefits that can save you money and hassle, but many cardholders aren't aware they have one

Emergency card disbursement and card replacement

If your credit card is lost or stolen, this protection can replace your card in as little as 24 hours.

Roadside dispatch

This benefit includes a phone number you can call for pay-per-use assistance when you're on the road. For example, you can call roadside dispatch for help with a flat tire, tire changes, lockout service and more.

Travel and emergency assistance services

This benefit is offered 24 hours a day, and it comes in the form of an assistance hotline. You can use this hotline to get help with medical or legal referrals, emergency transportation assistance, emergency translation services and more. The service itself is complimentary, but you're responsible for any third-party costs.

Read more: 6 lesser-known credit card travel benefits that can save you thousands of dollars if things go wrong on a trip

Access to the Visa Signature Luxury Hotel Collection

Cardholders can book through the Visa Signature Hotel Collection and receive additional perks, including:

When you make a reservation through Visa Signature Hotels, you're automatically entitled to the following:

  • Room upgrade upon arrival, when available
  • Free in-room Wi-Fi
  • Late check-out upon request, when available
  • Complimentary breakfast for two
  • A $25 food or beverage credit

Read more: Hotel programs from Amex, Visa, and more can get you free elite benefits like room upgrades and on-property credits — here's how

Wells Fargo Active Cash℠ Card

Fees and costs

The Wells Fargo Active Cash℠ Card doesn't charge an annual fee, which is a major benefit considering the high rate of cash back you get. 

With that being said, there are some other additional charges that can apply. For example, fees can be charged for balance transfers and cash advances, and you could be charged a late fee or returned payment fee up to $40. This card also charges 3% in foreign transaction fees when you make purchases abroad. 

Read more: The best credit cards with no foreign transaction fees

Related Product Module: Cash Back Credit CardsRelated Content Module: More Credit Card Coverage

Join the conversation about this story »

NOW WATCH: Sneaky ways Costco gets you to buy more

Discover student loans review: Low-fee lender with a cash bonus for good grades

0
0

Discover Bank review 2x1

Table of Contents: Masthead StickySummary List Placement 

Pros and cons

ProsCons
  • Cash reward for good grades
  • No origination fee
  • No prepayment penalty
  • No late fees
  • Relatively high APRs compared to competitors
  • Only one term length for undergraduate and graduate loans
  • One physical branch

Discover undergraduate student loans

Discover Undergraduate Student Loans

You may like Discover Undergraduate Student Loans undergraduate student loans if you want to avoid fees, as the lender doesn't have any prepayment penalties, origination fees, or late charges. However, you may be able to find lower fixed rates with competitors.

You might be eligible for Discover's one-time 1% cash reward on its student loans if you get a GPA of 3.0 or higher for any academic term covered by the loan. You'll need to redeem your reward within six months after the loan's disbursement or six months after the academic term has ended, whichever is later.  

Discover graduate student loans

Discover Graduate Student Loans

Discover Graduate Student Loans graduate student loans function similarly to the lender's undergraduate loans. The major difference between the two is the repayment term length; the graduate loans are for 20 years, while the undergraduate loans are for 15 years. You'll still get a loan with no fees and will be eligible for Discover's one-time 1% cash reward on its student loans.

How Discover student loans work

Discover Undergraduate Student Loans offers student loans for a variety of different types of degrees, including undergraduate, graduate, law school, MBAs, and health professions. 

To qualify for a loan, you must meet the following qualifications:

  • Be enrolled at least half-time in a program (undergraduate, graduate, law school, MBA, health program) at an eligible school
  • Be pursuing a degree
  • Be making adequate academic progress as determined by your school
  • Be a US citizen, permanent resident, or international student (international students need to have a cosigner who is a US citizen or permanent resident)
  • Be 16 years or older when you apply
  • Pass a credit check

Before applying for any private student loan, including with Discover, make sure to consider your federal student loan options, as you can often find more favorable terms and better protections through the government.

To contact customer support, call the lender 24 hours a day, seven days a week. The company has both a US number and an international number. If calling isn't the best work for you, you can also send mail to Discover's Utah address. 

Discover Undergraduate Student Loans has a well-reviewed app that has received 4.8 out of 5 stars on the Apple store and 4.6 out of  5 stars on the Google Play store. If you want to manage your loan on the go, this could be helpful. 

Is Discover trustworthy?

The Better Business Bureau has rated Discover Undergraduate Student Loans as an A+ in trustworthiness. A great BBB rating indicates the company is honest in how it handles business, responds effectively to consumer complaints, and is truthful in its advertising.

However, you won't necessarily have a positive relationship with Discover simply because the company has a top-notch BBB rating. Ask friends and family about their experiences with the lender and read customer reviews online.

Discover does not have any recent scandals. You may feel comfortable choosing Discover as your student loan lender because of its clean history and great BBB rating.

How Discover compares

Discover Undergraduate Student Loans rates are similar to or higher than those offered by comparable lenders — though rates will depend on your creditworthiness and other financial factors. Here's how Discover compares to the competition:

discover bank logo

CASL logoAscent showcase

Min. credit score

Unspecified

Min. credit score

Unspecified

Min. credit score

540

APR

Discover Undergraduate Student Loans

APR

College Ave Undergraduate Student Loans

APR

Ascent Undergraduate Student Loans

Origination fee?

No

Origination fee?

No

Origination fee?

No

Discover Undergraduate Student Loans

Student Loans

Student Loans

Discover review vs. College Ave review

You can get a lower minimum APR on your loan with College Ave than with Discover, so if your credit is in good shape, College Ave might be the better choice. 

College Ave has a quicker application process than Discover, as you can get a rate in a few minutes with College Ave, and it will take roughly 15 minutes with Discover. This may not be a dealbreaker, but if you want to speedily compare multiple rates, College Ave could be a better place to start. 

Discover offers a unique perk that College Ave does not. Discover has a one-time 1% cash reward on its student loans if you achieve a GPA of 3.0 or higher during any academic term covered by the loan. You have to redeem your reward within six months after your loan is disbursed or six months after your academic term is over, whichever is later.  

You won't pay any origination fees, prepayment penalties, or late fees with either company.

Discover review vs. Ascent review

Discover has a better APR range on graduate loans than Ascent. The minimum rate is about 1% lower with Discover than with Ascent, though the maximum rate is nearly the same. Ascent has a better range on undergraduate loans with a minimum rate roughly .75% lower than with Discover. The maximum rate with both companies is about the same.

Ascent has five repayment terms available with co-signed loans, five, seven, 10, 12, or 15 years. Discover has only one standard term available, 15 years. 

You may be eligible for a 1% cash reward with Ascent and Discover. Neither company charges origination fees or prepayment penalties, but Ascent may charge a late fee while Discover does not. 

Related Content Module: More on Loans

Join the conversation about this story »

How Netflix is changing the global entertainment industry (NFLX)

0
0

Money heist

Summary List Placement

Since Netflix first began its worldwide expansion in 2016, the streaming service has rewritten the playbook for global entertainment — from TV to film, and soon, to video games.

Global hit series and movies were once nearly all made in Hollywood and exported internationally. Now, thanks to Netflix's investments in international TV and film, programming from Spain, India, Brazil, and Korea is finding massive audiences around the world.

Netflix figured out that to thrive on an international stage it needed both mass-market programming like "Stranger Things," as well as local content like "Lupin,""Money Heist," and "Sacred Games" that could grab viewers in specific markets.

Read more about how Netflix's strategy for buying international TV shows is changing, according to producers who have worked with the streamer and its rivals

The strategy helped the streaming service grow its customer base to 209 million paid subscribers globally, as of June.

Its momentum is also reinvigorating production in places like Germany, Mexico, and India, as companies like Disney, WarnerMedia, Apple, Amazon follow Netflix's lead. 

Read more about how Netflix's global focus is changing international production markets

Netflix has reoriented its leadership around its new global model.

The streaming company, cofounded by tech entrepreneur Reed Hastings, promoted content chief Ted Sarandos to co-CEO in 2020, which cemented the importance of content within the organization. Meanwhile, Bela Bajaria, who had been in charge of international non-English TV, took the reins of the overall TV business, and product chief Greg Peters took on additional duties as COO, including streamlining how global teams work together. Peters also hired a new talent chief with international experience, former PepsiCo executive Sergio Ezama, to lead Netflix's global workforce.

View our full interactive chart of Netflix's top leaders

The company has also formed an elite team of 23 interdisciplinary execs to help make its biggest decisions. Known internally as the "Lstaff "— the "L" stands for leadership — the group sits between the company's officers and its larger executive staff of vice presidents and above, who are called the "Estaff."

Read more about Netflix's elite 'Lstaff' of 23 execs that helps the company make its most important decisions

Netflix is searching for its next frontier

Still, Netflix is facing more competition than ever from an influx of rivals that are learning to play its game.

Nearly every major media company, from Disney to WarnerMedia, now runs a streaming service. Their platforms are stockpiled with tentpole movies and TV shows that used to only be found in theaters or on linear TV, and their libraries now rival Netflix's.

The competition is pushing the streaming giant to continue to evolve.

Netflix recently expanded its efforts into podcasting and even started pedaling merchandise for series like "Lupin."

In July, the company confirmed plans to offer video games on its subscription service.

It hired Mike Verdu, the former head of Facebook Reality Labs, as its vice president of game development and is currently hiring for video-game-related jobs.

Read more about what Netflix's video-game roles reveal about its strategy

Netflix plans to approach gaming like it did movies and TV shows. It'll start off slowly, commissioning and licensing titles based on existing franchises like "Stranger Things" or "Bridgerton." Then, it will begin to experiment with other kinds of video-game storytelling, like it did with its original series.

"Maybe someday we'll see a game that spawns a film or a series," Peters told investors in July. "That would be an amazing place to get to and really see the rich interplay between these sort of different forms of entertainment."

Here's a list of our recent coverage of how Netflix is disrupting facets of the entertainment industry: 

The Netflix effect on global TV:

On filmmaking:

On video gaming: 

Netflix's evolving business model and corporate structure:

Netflix's growth trajectory:

Working at Netflix: 

Join the conversation about this story »

NOW WATCH: How the 1999 Russian apartment bombings led to Putin's rise to power

Popular pro-vaccine Reddit page calls on founders to do more to combat COVID-19 disinformation

0
0

In this photo illustration a silhouette hand holding a mobile phone with a Reddit logo in the background.

Summary List Placement

A popular pro-vaccine reddit page, r/vaxxhappened, shared a post on Wednesday calling for the site's founders to do more to combat COVID-19 disinformation spreading on the site.

The page has over 330,000 subscribers and the moderators wrote that they, "collect the outrageous and dangerous tales told by dimwitted anti-vaxxers on all forms of media."

"We could have been better off months ago, but disinformation and lies have been allowed to spread readily through inaction and malice, and have dragged this on at the cost of lives," the page's moderators wrote. "There are those who deny that the pandemic even exists, there are those who think that wearing a mask will literally suffocate you, there are those who think it's no worse than a regular flu virus, that it's a bioweapon, and everything in between. This volume of blatant misinformation is problematic and dangerous."

"It is clear that even after promising to tackle the problem of misinformation on this site, nothing of substance has been done aside from quarantining a medium-sized subreddit, which barely reduces traffic and does little to stop misinformation," they added.

Alongside rhetorical committment from the companies founders, the endeavor to fight disinformation at Reddit has largely been a volunteer-led effort.

Insider reached out to Reddit for comment.

Tech companies like Twitter and Facebook have struggled to combat covid-19 misinformation on their platforms. When Facebook data scientists requested resources to understand how far COVID-19 misinformation was reaching, they were denied. 

This story is developing. Check back for updates.

Join the conversation about this story »

NOW WATCH: Why 'moist' is one of the most hated words in the English language

The Taliban reportedly beat a United Nations worker trying to reach the Kabul airport

0
0

Taliban soldiers with guns.

Summary List Placement

Taliban fighters beat an Afghan UN worker as he tried to reach the Kabul airport on Sunday after searching his car and finding his staff identification, according to a Reuters report on Wednesday. 

The next day, three unidentified men showed up to the home of another UN staff worker and intimidated his family, the report said. 

According to the report, an internal UN security document outlines dozens of incidents that describe threats, looting of UN offices and physical violence against staff since August 10. 

"The authorities that are in charge in Kabul are responsible for the safety and security of U.N. staff and premises. We remain in touch with them in that regard," UN spokesman Stephane Dujarric said to Reuters. 

The report said there are still around 3,000 Afghan UN staff still in the country.

"Every woman I know has the same fear as I do," said one Afghan women who worked at the UN for several years. "What will now happen to our children if we are punished for our work? What will happen to our families? What will they do to us as women?"

An Afghan UN worker told Reuters that he knew of at least 50 Afghan staff who were threatened or warned by the Taliban. 

"We were expecting the entire U.N. system to help us. We were honestly expecting that," another UN worker said. "We are in danger. And if we cannot work, who is going to reach the people?"

According to the report, she has a visa to another country but has expressed frustration with the evacuation process. 

Join the conversation about this story »

NOW WATCH: Why I'm throwing away every plastic thing in my kitchen ASAP

Binance is 'not capable' of being effectively supervised and is a significant risk to consumers, says UK financial regulator

0
0

Changpeng Zhao, CEO of Binance, speaks at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta October 4, 2018.

Summary List Placement

Binance, the world's largest cryptocurrency exchange, is "not capable" of being effectively supervised, according to the UK's financial regulator. 

The Financial Conduct Authority in an 11-page notice published Wednesday said Binance Markets Limited, a London-based affiliate of Binance, failed to supply further information about its business model and wider product offerings, among other requests.

"This is of particular concern in the context of the firm's membership of a global group which offers complex and high-risk financial products, which pose a significant risk to consumers," the notice said.

In response to the FCA's first inquiry into its business, Binance said: "We do not consider these questions to be appropriate, or in any way relevant, to BML's application."

The cryptocurrency exchange added its website is operated outside of the UK and therefore does not fall under the country's regulations concerning money laundering, terrorist financing, and transfer of funds.

But the fact that Binance's main exchange is not UK-based is a problem for the watchdog because people living in the country can still trade cryptocurrency products that otherwise won't be allowed via Binance's broader platform. 

"The FCA considers that the firm's responses to some questions amounted to a refusal to supply information, and that the firm has failed to respond adequately to the FCA's information requirements," the notice said.

Binance, which was founded in 2017, does not have a formal headquarters. While it was founded in China and officially domiciled in the Cayman Islands, the firm is mostly present online, something authorities have taken issue with.

The FCA in June banned Binance's UK-based marketplace from conducting activity without written consent and has issued a warning to potential investors, telling them to be "wary" of promises of big returns.

The watchdog also took issue with Binance's lack of approved senior officials and its stock tokens, which the exchange stopped offering just three months after launching them. 

In recent months, Binance has been slapped with multiple warnings, and in some jurisdictions, has been banned from operating due to its failure to register with local regulators.

The company has faced scrutiny from CanadaJapanGermanyThailand, Italy, and the Cayman Islands, among others.

In the US, Binance is reportedly under investigation by the Department of Justice the the IRS. 

Binance CEO Changpeng Zhao in July said his firm will be "fully compliant" to protect its users.

 

Join the conversation about this story »

NOW WATCH: Inside a $3 million doomsday condo that can sustain 75 people for 5 years

Everything to know about Amazon's advertising business, which is $21 billion and growing

0
0

Andy Jassy

Summary List Placement

Marketers cut ad spending in the pandemic, but e-commerce advertising has boomed as people shop more from home — with Amazon leading the pack.

EMarketer said Amazon claimed 10.3% of the US digital ad market in 2020, up from 7.8% in 2019 — competing with Google and Facebook for ad budgets. That growth has attracted Walmart, Instacart, Walgreens and other retailersthat have joined Amazon in vying for a slice of the pie.

Here's the latest on what we know about Amazon's moves to grow its advertising business.

Amazon's ad business is big and growing

Amazon took in about $21.5 billion from advertising in 2020, up from roughly $9.3 billion in the year-ago period.

While that amount is a tiny sliver of Amazon's revenue from retail sales and Amazon Web Services, its cloud business, advertising is one of its fastest-growing areas. The tech giant continues to cut into advertisers' search budgets that mostly go to Google. It's also ramping up its audio and video sales pitch.

Who runs Amazon's ad business?

As its advertising ambitions have grown, Amazon has cultivated a team of execs who pitch advertisers on its ad business.

They include longtime Amazon employees like Colleen Aubrey, who is part of Amazon's executive suite; and big names from ad agencies and brands who work directly with advertisers.

Amazon faces growing competition for ad dollars

Amazon's advertising has soared as people do more of their shopping online — but other big retailers and delivery companies like Walmart, CVS, and Instacart are nipping at its heels by building their own ad businesses.

Amazon's ad business is tough to navigate

Marketers have complained that Amazon is tough to navigate. Amazon said its complex approach is by design, but at the same time, it's been rolling out tools to make it easier for marketers to buy and measure ads. Nonetheless, its complicated structure has rise to a cottage industry of firms that specialize in helping marketers navigate the site.

How to get a job at Amazon

Amazon is consistently looking for advertising talent, but its tough interviewing process and particular culture can make it hard for outsiders to break into the company.

We talked to insiders about how to ace the interview process.

Join the conversation about this story »

NOW WATCH: Why 'moist' is one of the most hated words in the English language


The 6 best treadmills for 2021

0
0
Table of Contents: Masthead StickySummary List Placement

Few exercise machines have endured the changing landscape of at-home fitness quite like the treadmill. They're great for maintaining cardio fitness, preparing for road races like 2-milers or 5Ks, or serving as a complement to a weekly workout routine— especially for anyone who doesn't have time to run outside.

Treadmills are also incredibly simple to use. You just run or walk on the belt, and a motor moves it under your feet at whatever speed you select. Some even offer a variety of different features, including touchscreen displays and live-streamed classes, that'll help you gain exactly the kinds of training and health benefits you need. 

As a frequent gym-goer and current fitness editor, I've run my fair share of miles on treadmills advanced, basic, or otherwise. For every mile logged on something like NordicTrack's Commercial 2950 or ProForm's Pro 2000, I've logged an equal amount (if not many more) on the kind of basic treadmill you'd find at a standard fitness center or gym — i.e. one without an interactive screen attached to it.

Using this experience, I combed through and tested a number of treadmills currently available. The following guide features a range of treadmill types at various price points in hopes of helping you find the best option for your fitness needs.

At the bottom of this guide, I've also included answers to a selection of FAQs, as well as some insight into how I test treadmills

Here are the best treadmills: 

How we test treadmills

Each treadmill featured in this guide went through a series of extensive tests (i.e. I ran on them, a lot) to see how well they compared across these four categories: Performance, features, quality, and value. Here's how each category specifically factored into which treadmills ended up making this guide:

Performance: How a treadmill performs comes down to a few basic aspects, including how comfortable it is to run on (and how shock absorbing it is), if it's able to avoid sounding like you're loudly pounding the ground with each step, what its tread feels like underfoot, and how wide the running area is. Though not all treadmills reliably check each of these boxes, a healthy combination of at least three of those often translates to high quality. 

Features: Some modern treadmills, like those from NordicTrack or ProForm, feature a built-in interactive screen that streams workouts, tracks output metrics, and improves the treadmill's performance. For models that don't have a screen, I looked at how intuitive it was to increase and decrease the treadmill's speed and whether it offered an incline or decline mode. Even those that aren't decked out with the ability to stream workouts are still feature-heavy enough to warrant a spot in your home gym.

Quality: If used often, treadmills can take a consistent beating, mostly due to a runner pounding on it step after step after step. This means the best treadmills should feature a sturdy and durable tread, a high-quality design that won't become compromised even after a full year or more of use, and that features an interface or series of buttons and dials that can avoid popping off or being unusable. 

Value: The value of a treadmill is less about its sticker price and more so the combination of the three categories above compared to its initial (and sometimes recurring) investment. I factored in everything when selecting treadmills across each featured category and often feel that it's worth it to spend a little more money on a product that's designed to last than to spend less, more often on something inferior. 



The best treadmill overall

The ProForm Pro 2000 Treadmill is a race-trainers dream that's versatile enough for the casual runner, too. 

Pros: Good motor, large running belt of 22 by 60 inches, includes both an incline and a decline setting, offers good interval training features, has access to iFit workouts

Cons: Customer service may be disappointing if you have problems, very heavy treadmill

Runners looking for a treadmill with good all-around training capabilities and a host of useful features will like the reasonably-priced ProForm Pro 2000 Treadmill

It has a 3.5-horsepower motor, which allows it to stand up to daily use, and it boasts a belt deck that measures 22 by 60 inches, which is perfect for most runners. When you're training for races with hills, you'll appreciate this treadmill's ability to reach a 15% incline and a 3% decline, which better simulates hills than most other treadmills — it's easy to adjust it both up and down, too, even while running. 

The ProForm Pro 2000 also has a number of techy features, including a 7-inch screen that's compatible with iFit's wide range of interactive workouts, a music port for iPods, and a built-in fan that works well to keep you somewhat cool while using it. Its tread features what the brand calls ProShox Cushioning, which is designed to lessen the impact on your feet and knees while running. Though a true, long-term test of this would better judge its viability, even a handful of runs on it showed that this made a difference (even if it was minimal). 

What truly makes this treadmill stand out is its inclusion of the above-mentioned iFit workouts. Not only are these excellent ways to keep motivated, but the platform offers some genuinely unique workouts. One day you could be running through France and the next through Vietnam. The globe-spanning locales add a level of quality to the workouts you'd have a hard time finding elsewhere.

Another perk of the iFit workouts is how the trainers leading the runs entirely control the incline, decline, and speed, allowing you to focus strictly on running. This is something that's incredibly welcome as fumbling with a treadmill's controls while in a full stride isn't always the most fun (and can easily mess with your cadence). The ProForm Pro 2000 comes with one free year of iFit, too, so you won't have to worry about shelling out a monthly payment for at least 12 months.

Its price is also in the range of what you'd expect to pay for a full-featured treadmill. Most interactive workout machines run in the $2,000 range, and the fact this undercuts that average by a few hundred dollars makes it an appealing choice for anyone looking to add a treadmill to their home gym. It can easily support any fitness routine, whether it's the centerpiece of your weekly workouts or a supplement to a more comprehensive plan.



The best smart treadmill

NordicTrack's Commercial 2950 is a highly versatile treadmill that offers automatic incline control, an HD 22-inch touchscreen, and a deep library of interactive classes from iFit. 

Pros: Now features automatically adjusting resistance and speed, the iFit library offers a wide range of in-studio classes and runs through real-world locales, offers Bluetooth connectivity and WiFi support

Cons: Expensive

The Commercial 2950 treadmill from NordicTrack is one of the most full-featured machines I've tested, coming with everything from automatic incline control and Bluetooth connectivity to Google Maps integration and personalized workout stats. My favorite feature, however, is its access to iFit's expansive library of interactive workouts. 

With iFit, you're able to run essentially anywhere, yet still from the comfort of your home. The service's roster of trainers offers a wide range of run types that aren't just confined to a studio or their home (where they do film some of the classes). Rather, you could be running through real-world locales that quite literally offer a breath of fresh air from standard treadmill routines. I found this to be a welcome deviation from the tediousness of normal running. Though iFit does cost $39 per month, a free year of the service comes standard with the purchase of all new treadmills (and bikes, too, for that matter). 

In addition to those workouts, the rest of the 2950 is a premium product. The automatically adjusting resistance feature mentioned above is a game-changer, and, as the name suggests, allows the trainers to fully control the incline, decline, and speed of the treadmill as you run along. All you have to worry about is just running — which does well to keep you focused and motivated instead of worrying about fumbling with controls. 

One nitpick could be that the iFit interface can be a little clunky and slow to use sometimes, and the service occasionally crashed mid-workout (though did tend to load right back up in the exact same spot I was running). This didn't happen enough to be concerning, nor did it detract from my overall experience. 

The 2950 certainly isn't cheap but few treadmills with this much to offer both in terms of features and available workouts will necessarily be "affordable." Still, it's worth the investment for those who want access to a huge library of interactive classes and a premium-built treadmill. 



The best budget treadmill

Compared to other budget fold-up treadmills, the Horizon Fitness T101-04 Treadmill has nice features and good performance.

Pros: Very good price point for an entry-level treadmill, will save space with a fold-up design, runs quieter than most budget-priced treadmills, works better for walkers and light runners

Cons: Only a 55-inch belt length, not really made for high-end running workouts, longevity is questionable

Saving space with a fold-up treadmill is a great idea for a lot of people. However, most fold-up treadmills don't offer a lot of power.

With those natural limitations of fold-up treadmills in mind, you'll like the Horizon Fitness T101-04 Treadmill, which works well for walkers and anyone on a budget (and isn't really made for runners looking for high-end workouts). Think of it as like an entry-level treadmill, or something that can be a complement to a wider range of at-home equipment. 

It has a 55-inch belt length, a maximum 10 mph speed, and a 2.25-horsepower motor. The T101-04 treadmill is easy to fold up for storage, which is great for anyone with minimal space in their home or apartment.

You can't beat the value, too. If you want something simple, straightforward, and cost-effective that has the basic features necessary for just running and walking, the T101-04 from Horizon Fitness is the treadmill you need.



The best upright folding treadmill

The LifeSpan TR3000i uses an extensive shock absorption system to take some pressure off your joints while running.

Pros: Good price for a mid-range treadmill, unit folds up to save storage space, extensive shock absorption system, good feature set versus other models in this price range

Cons: Not really designed for high-end workouts, build quality of treadmill is questionable

Some people dislike working out on a treadmill because of the pressure it places on their joints. The LifeSpan TR3000i attempts to alleviate some of this pressure by using a shock absorption system in the treadmill's deck.

It has a 20 x 56-inch running surface, 15 incline levels, and a 6-inch LCD screen that shows your time, calories, distance covered, steps, heart rate, speed, and incline. The eight shock absorber elements in the deck ensure that it remains both stable and comfortable to run on. As mentioned on other models, long-term testing would be a better indicator of just how well the shock-absorbing works, but it's easy to notice the difference in the TR3000i compared to others. If you at all have foot, knee, or joint issues, you'll want to at least consider this one when shopping.

Beyond its shock-absorbing capabilities, the TR3000i has a number of fun features to give you variety in your workouts, too, including a tablet holder, a USB charging port, and compatibility with iPods. It also has built-in speakers, folds up for easy storage, and physical console buttons that are sometimes easier to use when making adjustments than only relying on the touchscreen.



The best compact treadmill

The Cubii Pro is an easy-to-use, under desk exercise machine that's more of an elliptical than a treadmill but still allows you to log some quality cardio no matter if you're sitting down for lunch or powering through a backlog of emails. 

Pros: Small, easy-to-use machine that delivers an effective cardio workout, has up to eight different resistance settings, offers companion app support

Cons: Not strictly a treadmill, might not be as intense for hardcore fitness buffs

Though the Cubii Pro isn't exactly a treadmill in the traditional sense (and is more of an elliptical style machine than anything else), its unobtrusive nature makes it a convenient addition to anyone's home gym. The machine simply sits on the floor, be it under a desk, next to a coffee table, or literally anywhere around the house, and lets you pedal away for as long as you like. 

The machine delivers low-impact cardio that may benefit those unable to run on a treadmill due to sore joints, and its quiet operation even allows it to be used while watching TV, talking on the phone, or listening to music. With eight different levels of resistance, it affords as easy or as difficult a workout as you like, too. 

A companion smartphone application lets you keep track of all your logged workouts and lets you set weekly and monthly goals or share your progress with friends. The app is also compatible with services like Fitbit or Apple HealthKit, so if you prefer the interface of those, all workout data can easily sync to them.

At $349, it's certainly not a drop in the bucket but it is far cheaper than even the budget model on this list. For convenient, low-impact cardio exercise, the Cubii Pro is as versatile and easy to use as it gets. 



The best treadmill for quiet workouts

The 3G Cardio Elite Runner Treadmill delivers excellent performance and runs quieter than most treadmills.

Pros: Strong steel frame that will support a lot of weight, unit runs quieter than most treadmills, large treadmill belt area for tall runners, includes a large motor to compare favorably to gym treadmills

Cons: Extremely high price point, very heavy equipment that is difficult to move around

Few treadmills made for use at home will deliver the kind of quiet performance that the 3G Cardio Elite Runner Treadmill delivers. It's made for tall or heavy runners looking for a tough workout, but you'll pay more than $3,000 for the kind of quality that this 3G Cardio unit delivers.

It has an Ortho Flex Shock suspension system to minimize the stress of impact for runners, and the 22 by 62-inch platform is perfect for running.

The 3G Cardio comes with many pre-programmed workouts and a fitness level test. You have access to speed and elevation settings, heart rate control, and workout customization.  This treadmill also has a 4.0 horsepower motor and 3-inch rollers for great performance.

As you would expect with a treadmill with such a high price point, the 3G Cardio Elite consists of thick steel tubing in the frame. It's also rather expensive, so this is really only for serious runners who want a treadmill that will last a lifetime.



FAQs

What types of treadmills are there?

Basic: The most basic type of treadmill only works for walkers. They will have simple tracking features, such as speed, distance, and time. Most basic units will have a short bed that works better for a walker's stride than for running.

And you'll find limited shock absorption features here, which isn't great for runners. Such treadmills will fold up for easy storage (although some more expensive treadmills also can fold up for storage).

Mid-range: These treadmills will work for walkers or runners. For walkers, a mid-range treadmill should have longer support arms, allowing you to balance yourself easier. The belt bed will be a bit longer than the basic treadmill but those with longer running strides may still struggle.

You'll see better tech features in this price range, including a heart rate monitor worn on the chest or pre-set training programs.

Top-end: The highest quality of treadmills will contain long belt beds with good shock absorption, making them perfect for runners. To gain these features, such treadmills rarely will fold up for storage, meaning they require a lot of free space. They will deliver greater maximum speed levels and greater levels of incline, too.

These treadmills consist of the highest-quality materials. You'll receive Wi-Fi connectivity and extensive pre-set exercise programs with these models.


What are some key treadmill features?

Interactive exercise programs: Treadmills may have pre-programmed workouts that can help you with weight loss, cardiovascular performance, speed workouts, or hills training. These programs will allow you to set the length of exercise time, but they will automatically change the speed of the treadmill and the incline to match the parameters of the pre-programmed workout.

The ability to incline, decline, and adjust the speed: To help with training for running on hills or for additional calorie burn, the treadmill needs to offer an incline. Most treadmills can reach at least a 12% incline grade. Some treadmills even give you a simulation of running downhill with a decline grade of around 3%.

You should be able to adjust the incline, speed, and program in use through the touchscreen monitor. The screen also gives you information on the time elapsed, calories burned, distance traveled, your heart rate, and more. 


Are there different size treadmill belts?

Yes, there are, and it differs for what runners need versus walkers. Runners need a treadmill belt bed of roughly 55-60 inches long, while walkers can use one closer to 45-50 inches long. Taller people will need an even longer belt bed. Remember that the length of the treadmill isn't the same as the length of the bed.

The treadmill length (and width, for that matter) must accommodate the base portion of the unit that doesn't move, as well as the bed's motor housing at the front of the unit.

A treadmill belt bed should be at least 22 inches wide for runners which provides plenty of space in case you have a misstep. Walkers can successfully use a narrower bed than runners, such as 18 or 20 inches.


Are treadmills safe?

Many treadmills contain a safety line that hooks into the unit and clips to your shirt. Should you stumble, the safety line disconnects from the treadmill, causing it to shut down immediately. This is a helpful safety feature and it prevents situations where the person using the treadmill falls and gets launched into a wall. 

It's also recommended that you unplug your treadmill when not in use for added safety. This assures it won't accidentally turn on if a child or pet is around it. 


Do treadmills have a weight limit? 

Based on the size of the motor and the shock absorption capabilities, a treadmill may give you a maximum user weight recommendation. You should be able to find this listed in its online user's manual or listed on its specifications sheet. 



Yale's new 37-year-old chief investor of its $31 billion endowment tells us how he selects VCs

0
0

Yale University's chief investment officer, Matthew Mendelsohn.

Summary List Placement

Ever since the Yale endowment's legendary chief investment officer David Swensen died from cancer in May, the investment community's biggest guessing game has been who Yale would choose to fill Swensen's very big shoes.

In the end, Yale chose Matthew Mendelsohn – a young alumnus who has devoted his entire career studying at Swensen's knee.  Mendelsohn oversaw Yale's venture portfolio, which the university revealed Tuesday represents a quarter of its entire fund and has returned an average of 21.6% a year, well above the 12.4% of the endowment as a whole.

Mendelsohn is just 37 years old, though that is six years older than Swensen was when he became CIO in 1985 – the year after Mendelsohn was born –with relatively scant investment experience.

"Mendelsohn was the odds-on favorite," said Charles Skorina, an executive recruiter who has led dozens of CIO searches. "Culture, institutional memory, and tradition are part of the Yale Investment Office's DNA and key to their endowment performance." 

The choice of Mendelsohn says a lot about how important venture investing has become for Yale and other top endowments – and how successful that part of the portfolio has been over the last decade.

Mendelsohn declined to tell Insider if he will increase Yale's venture allocation, even though running that part of the fund was his road to success. But he did share what he looks for in venture funds.

"We invest in people, first," Mendelsohn wrote in an e-mail. "That means an emphasis on intelligence, network, partnership, long-term thinking, openness to new ideas, and overall ability to identify talented entrepreneurs and technology."

Yale has backed top venture firms such as Andreessen Horowitz, Benchmark, and Greylock Partners, and many other endowments and other institutional investors follow its lead on where to invest.

Mendelsohn's importance in the venture world was already high and now it is even loftier, as evidenced by the number of VCs congratulating him on his promotion.

 

Join the conversation about this story »

NOW WATCH: Why I'm throwing away every plastic thing in my kitchen ASAP

THE ONLINE GROCERY REPORT: The coronavirus pandemic is thrusting online grocery into the spotlight in the US — here are the players that will emerge at the top of the market

0
0
Summary List Placement

The coronavirus pandemic has brought online grocery — a promising but formerly niche industry — to the fore. The combination of consumers' interest in avoiding public places, government orders to stay at home, and the continued need for groceries and essential goods has made online grocery delivery services from the likes of Walmart, Amazon, Target, and Instacart indispensable.

OGU forecast

Previously, some consumers resisted the shopping method because they wanted to pick out their groceries themselves and avoid extra fees, but the pandemic has forced many to change their priorities. And the sudden focus on online grocery is set to alter consumer behavior well after the pandemic subsides, accelerating the industry's penetration in the US.

How well online grocers meet demand during the pandemic will play a major role in determining the top online grocers after the pandemic abates. Grocers' ability to fulfill as many orders as possible in a variety of convenient channels throughout the pandemic will be important, as consumers may turn to different providers if they can't place an order from one grocer through the channel they want — an issue that's popped up in some markets for several grocers during the crisis.

But online grocers that can keep customers throughout the pandemic may be able to keep those shoppers for the foreseeable future: 75% of online grocery shoppers still shopped with their first-ever online provider, per a survey from Bain and Google from 2018. So, the grocers that meet the most consumers' needs during the pandemic will likely lead the industry even after it subsides.

In The Online Grocery Report, Insider Intelligence first looks back at how online grocery adoption was progressing prior to the coronavirus pandemic to understand the state of the industry before the shopping method became vital to many consumers. Next, we examine why the pandemic is popularizing online grocery services and the impact it's already having on adoption. We then forecast how online grocery's penetration will grow in the coming quarters and years due to the pandemic, and consider the factors that will determine the industry's staying power. Finally, we analyze top online grocery players' ability to meet surging demand during the pandemic and how that positions them to build customer bases that can last well beyond the pandemic. 

The companies mentioned in this report are: Albertsons, Aldi, Amazon, BJ's Wholesale Club, Costco, FreshDirect, Grubhub, Hannaford, H-E-B, Instacart, Kroger, Ocado, Peapod, Publix, Target, Uber Eats, Walgreens, Walmart, and Whole Foods.

Here are some key takeaways from the report:

  • The coronavirus pandemic is pushing consumers to buy essential products digitally, which is rapidly accelerating adoption of online grocery services in the US.
  • Online grocery's staying power will come down to the length of the pandemic — because if the crisis stretches on, more consumers may be pushed to try an online grocery service — and how well online grocers meet surging demand, because consumers may abandon online grocery if they find it difficult to receive orders.
  • The online grocery services that are best able to handle surging order volume will likely be the most popular services after the pandemic subsides because consumers will be able to rely on those services to consistently bring them groceries.
  • Walmart and Instacart are best positioned to lead the pack post-pandemic given Walmart's massive brick-and-mortar network and Instacart's wide reach thanks to its platform model.

In full, the report:

  • Examines the US online grocery industry prior to the coronavirus pandemic to highlight what was driving the industry's adoption, and what obstacles it faced.
  • Analyzes why the realities of the pandemic — such as concerns about contracting the virus — have pushed many consumers to try an online grocery service for the first time.
  • Forecasts the US online grocery industry's penetration in 2020 and in the years to come, laying out a moderate and extreme scenario to account for the uncertainty surrounding the recovery from the pandemic.
  • Discusses why the duration of the pandemic and online grocers' ability to meet demand will determine the popularity of online grocery after the pandemic subsides.
  • Highlights how Walmart, Amazon, Target, and Instacart are positioned in the online grocery industry, how well they're meeting demand during the pandemic, and how they are expected to fare in the space beyond the pandemic.
  • Recommends how online grocers can maximize their performances during and after the pandemic with innovations like automation, operational flexibility, and bundling services.

Interested in getting the full report? Here's how to get access:

  1. Insider Intelligence analyzes the payments and commerce industry and provides in-depth analyst reports, proprietary forecasts, customizable charts, and more. >> Check if your company has BII Enterprise membership access to the full report
  2. Sign up for the Payments & Commerce Briefing, Insider Intelligence's expert email newsletter keeping you up-to-date on the people, technologies, trends, and companies shaping the future of consumerism, delivered to your inbox 6x a week. >>Get Started
  3. Purchase & download the full report from our research store. >> Purchase & Download Now

Join the conversation about this story »

The stock market has more upside ahead after the S&P 500 closed at its 50th record high, according to LPL

0
0

nyse trader

Summary List Placement
  • US stocks have room to climb higher even as they hit record after record, according to LPL.
  • The S&P 500 notched its 50th record closing high of 2021 on Tuesday, below 1995's record of 77.
  • According to LPL, the S&P 500 returns an average 4.7% in the final months of the year when stocks are this strong.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

A continuous surge to record highs in the stock market shouldn't scare away investors who are worried about an imminent crash, according to a Wednesday note from LPL.

The S&P 500 closed at a record high for the 50th time this year on Tuesday, but that's still below 1995's record of 77 closing highs. 

"Incredibly, 2021 is currently on pace for 78 new highs. There's a long way to go, but this has been an amazing year and this is yet another way to show it," LPL's chief market strategist Ryan Detrick said. 

Detrick crunched the numbers and found stock finished the year strong when the S&P 500 notched more than 30 record closing highs through August. On average, stocks went on to surge 4.7% in the final months of the year, while the median final month return was 5.2%. That's well above the average final month returns of 3.6% in any given year.

Meanwhile, stocks were positive 88% of the time in the final months of the year amid so many closing record highs.

But not everyone has gotten the message, as both institutional and retail investors have raised billions in cash by selling their stocks in August, according to Fundstrat.

"2021 is off to a roaring start and we continue to expect higher prices before all is said and done. We'd use any potential weakness as an opportunity to add before potential higher prices," Detrick concluded. 

Stock market record closing highs

Join the conversation about this story »

NOW WATCH: Inside a $3 million doomsday condo that can sustain 75 people for 5 years

19 top public relations experts CEOs scramble to hire in a crisis

0
0

Eleanor McManus, co-founder, Trident DMG

Summary List Placement

Companies and high-profile people had a raft of financial and reputational trouble last year.

Activist investors turned up the heat on company boards in new and creative ways. Companies had to reckon with a global pandemic, vaccine mandates, and diversity and inclusion issues.

Bad news travels fast, and employees and consumers are demanding more of companies and public figures. 

For people like Michael Sitrick at Sitrick & Company, Jeremy Fielding of Kekst, and Juda Engelmayer of HeraldPR who are hired to manage the fallout, it's been a busy and lucrative time.

Business Insider identified the crisis PR pros who handled the biggest volume and most high-profile and controversial assignments of the past year.

We defined crisis comms broadly. Some of those on the list are known for handling financial-related issues like bankruptcies, shareholder activism, and corporate issues. Others are known for mopping up the messes of big-name individuals. Our list includes boutique shops, large independents, and ones owned by giant ad holding companies with sizeable crisis practices.

Scroll down to see the people made the cut, listed alphabetically by last name.

SEE ALSO: Harvey Weinstein's PR guru charges up to $30,000 a month. He talks about how he threw out the playbook when representing the disgraced mogul.

Richard Levick, Levick

Levick established his eponymous firm's reputation as a top crisis communications agency after helping AIG handle negative coverage following the financial crisis in 2009, and guiding the Catholic Church's public response during its sex abuse scandal.

More recently, Levick represented the Champlain Towers South Condominium Association, the owner of the Miami condo that collapsed during the summer of 2021, to answer reporters' questions.

Levick has also worked for foreign clients like the governments of Qatar and the United Arab Emirates, state-owned China Telecom, and Jho Low, a businessman who allegedly stole more than $4 billion from Malaysia's sovereign wealth fund.



Eleanor McManus, Trident DMG

McManus knows how media works and where its pressure points are as a former senior producer for "Larry King Live."

For example, McManus helped former Pinterest COO Francoise Brougher publicize her lawsuit in The New York Times in 2020, when she sued Pinterest for gender discrimination. Brougher eventually won a $22.5 million settlement.

McManus and the rest of the Trident DMG team — including Lanny Davis, who served as special counsel for Bill Clinton during his impeachment trial — also advised Michael Cohen, the former personal attorney for Trump, on a variety of litigation issues. McManus helped develop Cohen's media strategy and answered reporters' questions after Cohen testified before Congress in 2019. She told Insider that at one point, she received 50 calls from journalists in a single day.

In 2017, McManus cofounded Press Forward, a nonprofit seeking to eliminate gender discrimination in newsrooms, after sharing her own MeToo experience involving Mark Halperin.



Dan Doherty, BCW

As the leader of BCW's public affairs and crisis practice, Doherty has helped clients work through issues ranging from cybersecurity to environmental disasters. He served as a spokesperson for Goya Foods when customers boycotted the food company after its CEO praised Trump.

Having spent more than a decade at DC firms, Doherty will play a vital role in maintaining BCW's position as a leading crisis and public affairs agency. 

Doherty joined Burson-Marsteller in 2017, which had a reputation as a leading crisis and public affairs agency, before it merged with Cohn & Wolfe to create BCW.



Kerri Lyon, SKDKnickerbocker

Crisis is at the heart of SKDKnickerbocker, a public affairs and political consulting firm that's known for its work for Democratic Party and progressive causes. 

Partner Kerri Lyon, a former TV reporter and comms director for the New York City Department of Education, knows how to spin a story and get support for complex policy issues. She, along with partners Mike Morey and Jill Zuckman, have helped Memorial Sloan Kettering and Mount Sinai Hospital system with communicating to workers, patients, regulators, and the general public on how the pandemic was affecting them.

SKDKnickerbocker also works with the National Women's Law Center's Time's Up legal defense fund and the attorneys representing victims of sexual abuse at the Boy Scouts, which resulted in an $850 million settlement. (The Boy Scouts declared bankruptcy in February 2020 after getting hit with a flood of cases.)

SKDKnickerbocker also was one of the firms that represented Carlos Ghosn, the former Nissan chairman who fled Japan as a fugitive after being arrested for financial wrongdoing; and, controversially, did work for spyware company NSO Group, which was accused of selling surveillance tech to authoritarian governments.



John Bradbury, Ketchum

The No. 5 PR firm in terms of revenue, Omnicom-owned Ketchum has a big and growing crisis practice. The practice is led by partner John Bradbury, a 20-year vet of Ketchum who's known for counseling clients on everything from product recalls and data breaches to labor actions and activist campaigns.

He's expanded the practice in recent years to sports issues management for clients facing sports-related situations and reputation management for trade associations and nonprofits.

Ketchum keeps mum about most of its clients, but in the past it counseled Malaysia Airlines following the disappearance of flight MH370, and helped Puerto Rico's tourism get back on its feet after Hurricane Maria with a campaign called #CoverTheProgress that urged people to focus on the recovery.



Jamie Diaferia, Infinite Global

Diaferia, who pivoted from law school to PR, started his own shop Infinite Global just after September 11, 2001, and despite being a small firm, he's worked behind the scenes on some of the biggest stories in the news, including the collapse of Enron, the Penn State scandal and several high-profile civil and criminal prosecutions — making him a top pick for crisis and PR among lawyers polled by the National Law Journal in 2019.

Diaferia projects Infinite will reach $10 million in annual revenue in 2021 after growing 55% over the past five years, despite a 10% dip during the pandemic.

Diaferia continues to rep Scott Hapgood, an investment banker accused of manslaughter in Anguilla, for whom he mounted what The New York Times called"a formidable public relations campaign, winning sympathy and support from various American politicians," including President Trump himself. 



Sydney Neuhaus, Finsbury Glover Hering

Corporations, high-profile people and organizations call Finsbury's Sydney Ann Neuhaus, managing partner and global COO, when disaster strikes. 

The UK-founded firm that's part of ad holding company giant WPP touts itself as having "managed some of the most complex communications challenges of the last three decades," and Neuhaus, managing partner and the firm's first female partner in the US as well as a vet of FleishmanHillard and Edelman, leads the crisis practice, which accounts for 40% of the firm's business.

Recently, Neuhaus helped Memorial Sloan Kettering Cancer Center update patients on changing protocols and safety measures early in the pandemic and BioNTech's major announcements of clinical trial results and emergency use approval while spreading awareness of its brands in the US.

It's also worked with Volkswagen during its emissions crisis in 2015 and Citigroup in the wake of the financial meltdown in 2009.



Eliot Hoff, APCO

Hoff had a banner year as the leader of APCO's global crisis practice, with revenue jumping 30% in 2020 year-over-year to more than $20 million, the agency's best year yet.

His clients include Mars, Yum! Brands, KFC, and IKEA. Hoff helped clients tackle issues related to COVID, as well as legal and regulatory issues and financial communications.

Hoff also made headlines in 2013 and 2014 when he helped stop New York Mayor Michael Bloomberg's so-called "Soda Ban" as the lead spokesperson for the New Yorkers for Beverage Choices, a group formed through APCO client American Beverage Association.

 

 



Juda Engelmayer, HeraldPR

Juda Engelmayer has worked in crisis PR for over 30-years, but his biggest client is perhaps his most challenging ever: managing Harvey Weinstein's image during before and during his trial, as well as his upcoming appeal in New York and second rape trial in Los Angeles.

In 2020, Herald PR revenue grew 25% YOY to $2.8 million, adding clients like Jennifer Weisselberg, a key witness in the New York Trump investigation; and Clare Bronfman, one of the former leaders of cult NXIVM.

Read Business Insider's profile of Engelmayer here: Meet Juda Engelmayer, the man in charge of crisis PR for Harvey Weinstein who charges clients up to $30,000 per month.

Engelmayer came up in the gritty world of New York government, paving the way for a career in crisis PR. He started his own shop four years ago after stints at Rubenstein and 5W Public Relations and is known to take cases other firms turn up their noses at. In 2019, he represented two kids whose parents were embroiled in the college admissions scandal. 

Working for a controversial client like Weinstein can make some PR pros toxic to other clients, but there always seems to be a need for crisis experts like Engelmayer.



Carter Eskew, global co-chairman, Finsbury Glover Hering

DC-based Glover Park Group was founded in 2001 by former Clinton White House insiders Carter Eskew, Mike Feldman, Joel Johnson, and Chip Smith. Today, the firm is part of ad holding company giant WPP with 180 people in New York and DC. Run by Eskew, Feldman, and Johnson, the firm plays to its political roots, citing its White House along with finance and journalism experience.

In 2020,  Eskew provided crisis and corporate communications support to the NFL when it had to cancel all preseason games and other high-profile events due to the pandemic.

Other notable projects have included AstraZeneca during the Pfizer takeover attempt, and the Takata airbag recall. It also did work for Carlos Ghosn, the former Nissan boss facing charges of financial wrongdoing, before he fled Japan.

Glover merged with sister WPP agencies Finsbury and Hering Schuppener in 2021, creating a crisis giant that has roots in financial communications as well as public affairs.



Jeremy Fielding, Kekst

Kekst CNC, which formed from the merger of Publicis Groupe agencies, had a busy couple of years in 2020 and 2021, working with Softbank as the Japanese conglomerate tries to sell ARM Holdings to Nvidia amid antitrust and national security concerns. Its other new clients include FirstEnergy, Checkers and Rally's, Knotel, MKS, and Central Synagogue. 

It had one of its biggest jobs in crisis PR in 2019, when WeWork came calling amid its downfall. Publicis reportedly was paid a hefty $500,000 a month, mostly for crisis PR services.

Leading the practice is co-CEO and partner Jeremy Fielding, a 22-year vet of Kekst who has been a go-to for senior management, boards, and communications teams for global companies for communications help in managing their businesses or protecting their reputations.

Fielding told Insider that Kekst CNC recorded double-digit revenue growth in 2020, but declined to disclose revenue.



Brandy Bergman, Reevemark

Just three years after CEO Brandy Bergman and four other former Sard Verbinnen managing directors started Reevemark, they've helped clients including law firms, corporations, and high-profile people facing all sorts of dicey situations.

In 2020, it worked with about 60 clients, including the founders of Tinder in their $5 billion lawsuit against Match, McKinsey as it dealt with its opioid-related settlements with 50 state attorney generals, and Chesapeake Energy when it filed for Chapter 11 bankruptcy.

Reevemark advised AIG on communications around the separation of its life insurance and retirement solutions business and its sale of a 9.9% stake to Blackstone for $2.2 billion. It also advised Sanderson Farms when it sold itself to Cargill and Continental Grain for $4.5 billion.



Michael Sitrick, Sitrick & Co

Sitrick set the modern standard for crisis management when he tamped down a crisis for the grocery chain Food Lion after ABC aired a news segment in 1992 about its food-handling practices.

Sitrick used outtakes from the segment to pinpoint lapses in ABC's reporting, according to The New York Times, in what became a case study taught by the Columbia Graduate School of Journalism.

Lately, he's been representing financial giants like Bill Gross, a cofounder of PIMCO who was mired in a messy divorce; religious organizations like the Diocese of Rockville, which filed for Chapter 11 to handle legal expenses and settlements with abuse survivors; and celebrities like ESPN broadcaster Rachel Nichols, who was ousted from her position after recorded comments she made about a Black colleague were leaked.

 



Joele Frank, founder, Joele Frank

Activist investors have been turning up the heat on company boards, which is good for firm founder and managing partner Joele Frank, whose speciality is defending companies against shareholder activism — she claims to have defended firms more than 40 times against Starboard, just to name one.

Joele Frank was heralded by Bloomberg's 2020 Global Activism Market Review for helping companies like Delek US and Box defend themselves against activists Carl Ichan and Starboard Value, respectively.

The Deal has ranked Joele Frank the top-ranked firm in bankruptcy communications since 2019, during which time, the agency worked on JCPenney, Frontier Communications, and Mallinckrodt's bankruptcies.

When the M&A market heats up, boards and CEOs frequently call on Frank for advice. Over the past year, she's parachuted into mega deals like  S&P Global on its $44 billion proposed acquisition of IHS Markit and Salesforce's $27 billion proposed acquisition of Slack.



Davidson Goldin, Goldin Solutions

Since founding his firm in 2009, broadcaster-turned-PR pro Goldin has made it a go-to for business, media, and entertainment clients in sticky situations.

Recently, Goldin was hired by information tech firm SolarWinds to help it respond to media questions about a massive hack in 2021, that some US officials believe is the work of Russian operatives. Goldin is also handling media for WeWork founder Adam Neumann on future business ventures, and Ridgeback Biotherapeutics, a biotech company that's developing a potential COVID treatment with Merck.

Previously, Goldin helped Duke Energy while it was investigated after its merger with Progress Inc.; Steven Rattner, who faced an SEC kickbacks probe; and "Barefoot Contessa" Ina Garten in her lawsuit against a copycat frozen dinner line. Other clients have been Gawker Media during its legal battle with Peter Thiel-backed Hulk Hogan; Mets owners Fred Wilpon and Saul Katz in their litigation with the Madoff trustee; and the family of hedge fund billionaire Glenn Dubin, whose wife once dated Jeffrey Epstein.



Matthew Hiltzik, Hiltzik Strategies

Hiltzik is known for representing celebrities like Brad Pitt, Kelly Ripa, and Drake, but his clients also span the worlds of sports (the Jets), education, tech (Eric Schmidt and Schmidt Futures), and finance.

Hiltzik advised the XFL football league, which declared bankruptcy after it was forced to cancel its inaugural season in 2020 because of the pandemic.

After helping build British-based Freud Communications in the US, in 2008 he started his own firm, which springboarded Hope Hicks and Josh Raffel into the Trump White House inner circle.

Fierce and multifaceted, Hiltzik is a lawyer who's heavily involved in Jewish, Democratic, and other causes (but not so ideological as to prevent him from once working for and befriending Glenn Beck), work that helps bring him a range of clients. He's also a documentary producer — his credits include the Emmy-winning "Paper Clips."

The firm has expanded its consulting practice in the past several years to help clients fix operational issues to prevent future crises. Says Hiltzik: "The more context, information, you have about how a business is operating, the more effective you can be in advising them."



Scott Lindlaw, Sard Verbinnen

Crisis is a mainstay of Sard Verbinnen & Co.'s business, and last year was no exception.

Scott Lindlaw, a managing director and senior member of the firm's crisis team, helped advise Quibi when the now-defunct short form streaming service was sued by interactive video firm Eko for alleged patent infringement and trade-secret theft. The firm also advised Quibi as it shuttered its business and sold its assets.

Before that, Lindlaw was called in to help Capital One through one of 2019's biggest data breaches, when more than 100 million people's data were compromised. Using his journalism background (he was a White House reporter before becoming a lawyer), he pushed to mitigate negative press coverage and get the media focused on an arrest made in the case.

Other big cases include advising PG&E's board on its financial troubles stemming from California wildfires in the prior years, and Intel's fallout from processor bugs known as Spectre and Meltdown.



Andy Merrill, Prosek Partners

Shareholder activism, regulatory investigations, and other hot-button issues contributed to a busy 2020 for Prosek, where crisis, or "Special Situations," as Prosek calls it, is a growing part of the independent firm's practice.

The firm reported average revenue growth of 6.5% between 2019 and 2020, with Special Situations up 89% year-over-year and increasing at a 5-year compound annual rate of 50.1% as the firm takes on M&A, shareholder activism, sexual harassment, and natural disasters.

Leading the practice are partner Andy Merrill — who joined in 2015 after stints at big crisis PR shops Teneo and Finsbury and is known for helping UBS with its rogue trader scandal — along with partner Mickey Mandelbaum and managing director Brian Schaffer.

Merrill predicted that Prosek's special situation group would continue to grow thanks to an uptick in IPO and SPAC work.



James Wright, Red Havas

Wright is global CEO of Red Havas, formerly known as Havas PR, and is a part of French-owned Havas Group's Havas PR Global Collective. He also serves as global chairman of Havas PR Global Collective. 

Havas PR Global Collective's annual revenue remained steady in 2020 at $220 million with crisis making up about 10% of that, winning work with clients like UNICEF, Manpower Group, and Skillsoft.

Wright's past assignments include working on the Takata airbag recall in 2019 and others seeking help figuring out responses to the coronavirus.

UK-born Wright came to PR early and was one of the youngest people to be inducted as a Fellow of the Public Relations Institute of Australia. He's had high-profile gigs advising Jaguar Land Rover on its role in climate change; Mondelez and Coca Cola on obesity and recycling; and Malaysia Airlines over crashes. He's also helped blue-chip clients like BT Group, Lexus, and HSBC.







Latest Images