Friday 30 June 2023

Get excited for Insider Today

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Hi Insider,


Today, we said goodbye to a few of our newsletters.

But fear not, because moving forward you'll be receiving our flagship newsletter, Insider Today, where you'll still be able to get the inside scoop on the biggest stories in business, from Wall Street to Silicon Valley.

If you'd rather not receive Insider Today, we get it: unsubscribe here.

We're also in the process of making some exciting changes to Insider Today in the coming weeks that we can't wait to show you.

Here's what you can expect:
  • A new look and feel, led by senior editor and anchor Dan DeFrancesco and senior reporter Diamond Naga Siu.

  • Our unique perspective on the most pressing stories in the world, with an eye towards business.

  • We won't just keep you up to date on the news, we'll also help you think about it in a different way — with fascinating details and analysis you won't find anywhere else.

In the meantime, you can still expect Insider Today to cover all the biggest stories of the day.

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Tech:

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The biggest tech news and scoops.
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10 THINGS IN TECH

It's the final Friday, friends. I'm Diamond Naga Siu.

Today is the last edition of 10 Things in Tech.

Thank you very much for being part of the newsletter. I'm so grateful for every time you've opened, read, clicked, emailed, or shared the newsletter. Although we weren't together for too long, I hope it was a fun, techie time.

Moving forward, I'll be a senior reporter on our flagship newsletter, Insider Today. So you'll still see me every morning in your inbox.

Insider Today takes you inside the biggest stories in business, including tech. So you can keep up with all of our tech coverage there.

We're working on revamping Insider Today, and we want your feedback. Please fill out this quick, five-question survey to let us know what you want to see in the newsletter.

Before we say "Bye Bye Bye" here — see you soon at Insider Today! — for one last time, let's dive into today's tech.


Download Insider's app here.


Elon Musk peeking out from an Apple Logo

1. It's the middle of the year. And we've been through a lot together. Layoffs, generative artificial intelligence, company collapses, and more. Here are some of my favorite stories featured in the newsletter for the half year we had together:


In other news:

A paper graph is folded in waves as it pushes against the skyline of San Francisco, the hub of Silicon Valley. The graph has a stark red arrow pointing downward. The background is a textured gradient purple and orange.

2. Silicon Valley is bracing for an 'extinction event' this year. Investors are less keen to spend money. Fewer companies are going public. And there are more startups than ever before — many with less than one year of financial padding. Dive into the perfect storm here.

3. Mastercard's master plan to hire tech talent. Passion project days. $200,000 salaries. Office amenities. EVP Oran Cummins told Insider what it's like to work at the payments company. Tap here to check out the company's revamped work culture.

4. Angry Microsoft employees roast their CEO. Satya Nadella shared a thank-you note with employees this week for the company's "landmark" year. His gratitude was met with ire from some discontented employees. See what the exasperated employees said.

5. Men are using AI to level up their dating profiles. Generative AI tools like ChatGPT are helping men write better bios and personalized messages, a new study found. This has also led them to feel more confident about dating. Swipe right for the full story.

6. Top 75 investors for fledgling startups. These investors are the most prolific when it comes to backing brand new companies. Insider sifted through thousands of active investors and identified the ones that founders should focus on most. Get the full list here.

7. Inventors who died from their own inventions/creations/discoveries. The OceanGate Expeditions CEO (of the Titan submarine implosion) is on this list. Others include William Bullock (of the rotary printing press) and Robert Cocking (of the hot air balloon). Check out seven others.

8. An AI prompt engineer shares three requirements for the job. Teodora Danilovic said you don't need a computer engineering degree for this high-paying role. Instead, logic and linguistic skills are essential. She revealed how to become a prompt engineer.


Odds and ends:

A library in a Manhattan penthouse with city views

9. The 'dated' and 'overpriced' $35 million Gucci penthouse. The 9,450-square foot New York City penthouse has been on and off the market for eight years. It boasts a skylit library, wood-burning fireplace, two interior elevators, and more. Welcome in for the full tour.

10. People can finally test drive EVs. Due to past supply constraints, most people couldn't test drive EVs before buying one. That's beginning to change as dealership inventories are looking much more robust. Drive over for the full story here. Bonus: Used cars aren't going to get cheaper.


The latest people moves in tech:


Curated by Diamond Naga Siu in San Diego. (Feedback or tips? Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Lisa Ryan in New York City, Alistair Barr (tweet @alistairmbarr) in Silicon Valley, and Hallam Bullock (tweet @hallam_bullock) in London.

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Thursday 29 June 2023

Tech: 'Blacklisted' startup founders

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10 THINGS IN TECH

It's Countdown time, friends. I'm Diamond Naga Siu, and it's the penultimate (woah — a word I don't get to use often) day of this newsletter.

As a bittersweet reminder, this is the last week of 10 Things in Tech. I'm moving over to our flagship newsletter Insider Today. And it'll continue keeping you updated on the top tech news of the day. Sign up for it here!

Also, please let me know what you want to see in Insider Today. Feel free to reach out at dsiu@insider.com with feedback, tips, food recs, jokes, or anything else.

Before I get in my feels, let's dive into today's tech.


Download Insider's app here.


A founder under Fractal is trying to shake hands with venture capitalists, who are blacklisting him

1. Founders from startup studios say they're 'blacklisted' from investors. Startup studios like Fractal think of startup ideas, then hire founders to execute the vision. But multiple Fractal founders say their businesses are on life support. Plus, they claim that investors seem to run when they hear the name Fractal.

  • "There's a cancer on all of the businesses that are coming out of this studio," one founder told Insider. Many of them think it's because of how startup studios structure terms and conditions for investing — they take a massive chunk of ownership.
  • Investors also prefer when startup founders create the ideas themselves. So founders said that the selling point for startup studios is actually a double-edged sword.
  • My colleagues Melia Russell and Stephanie Palazzolo spoke with 20 founders associated with Fractal and broke down the unique struggles they face.

Dive into their hurdle-filled startup journeys here.


In other news:

A robot hand reaching for a red landline phone

2. AI voice generators are scamming parents. The call is from an unknown number. But the voice sounds like your kid asking for money. New technology is making imposter scams easier and more believable. Get all the details of this supercharged scam here.

3. Google's controversial Pride Month drag show. Hundreds of employees signed a petition opposing the company-sponsored drag show. They claimed it disrespected Christian workers and that it amounted to religious discrimination. More on the dispute here.

4. How to land deals with brands. Insider compiled dozens of media kits that influencers use to land brand deals. These examples helped influencers partner with Nike, Abercrombie, Amazon, Tinder, and other major companies. Check them out here.

5. No bonuses, no salaries, no negotiations. OpenAI (the creator of ChatGPT) has a straightforward compensation system. All employees get a flat base salary of $300,000 and $500,000 in equity yearly. That's it. More on the unusual salary structure here.

6. Shopify's midlife crisis. Layoffs. A failed logistics pivot. Culture shifts. The e-commerce company is struggling to redefine itself. Now, it's planning to pair AI with its original (and successful) software — it just might work. Look into the tumultuous company's future here.

7. Microsoft's former HR VP: Leave right away if you're put on a PIP. Chris Williams explained that "surviving [a performance improvement plan] is like a sign on your back." Here's his step-by-step advice on what to do after getting "PIPed."

8. From selling generic Viagra to selling prescription weight-loss drugs. Injectable anti-obesity and diabetes drugs like Ozempic remain in high demand. So digital-health startup Ro pivoted its business plan to bet on the hype. More on its strategy switch here.


Odds and ends:

The exterior of an abandoned Victorian house.

9. This couple is transforming a $7,500 abandoned New York home. Dr. Lindsay Noah-Vermillion and Jim Vermillion are restoring a 120-year-old house back to its Victorian glory. They took Insider behind the scenes of the transformation. Check it out here.

10. Leasing a car actually makes sense. Despite conventional wisdom, leasing makes a lot of sense for car buyers. It puts people in less debt. You can drive a nicer vehicle. And most repair costs fall on the dealership. Hop in for the full picture here.


What we're watching today:


Curated by Diamond Naga Siu in San Diego. (Feedback or tips? Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Alistair Barr (tweet @alistairmbarr) in Silicon Valley and Hallam Bullock (tweet @hallam_bullock) in London.

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Wednesday 28 June 2023

Tech: Inside Tesla’s Gigafactories

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10 THINGS IN TECH

Welllll, it's Wednesday. I'm Diamond Naga Siu, and we have three more days on this newsletter together — así es la vida, sí.

In case you missed it: This is the last week of 10 Things in Tech. Moving forward, I'll be a senior reporter on our flagship newsletter Insider Today — sign up here!

And of course, you can also download our app and sign up for tech notifications. But for now, let's get into today's tech.


Download Insider's app here.


Tesla Gigafactory in Nevada

1. Behind-the-scenes of Tesla's battery and electric vehicle factories. The EV company only has six gigafactories across the world: Fremont, California; Sparks, Nevada; Berlin; Shanghai; Austin, Texas; and Buffalo, New York.

  • The gigafactories are responsible for manufacturing a mix of batteries, solar gear, and electric cars. Depending on the location, a single factory can produce more than 750,000 vehicles per year.
  • CEO Elon Musk wants to build 10 to 12 more gigafactories to reach his goal of making 20 million cars per year by 2030. Each location is outfitted with solar panels, and Musk claims 100 gigafactories could supply the world with all of its energy.
  • My colleague Graham Rapier takes us into the world of Tesla's gigafactories and breaks down what their futures could look like.

Drive over for a full look inside the gigafactories here.


In other news:

A

2. Employers are also quiet quitting. Employers are quietly stepping back from traditional employment. In a world of remote work, they're trying to pay people the least amount of money to get work done (think freelancers and contractors). Dive into the rising trend here.

3. Allbirds debuts 'weird,' 'unattractive,' and 'goofy as hell' sock shoes. The struggling company says M0.0nshot is the world's first carbon-neutral shoe. These sustainable kicks are an attempt to win back Silicon Valley. Run over to check them out here.

4. Digital nomad regrets moving from San Francisco to Croatia. Gigi Chow used a three-month visa to test moving to Dubrovnik. But after the first few weeks, she thought it was "creepy" that people started to recognize her. Get her full experience here.

5. Elon Musk's 'demon mode.' His biographer Walter Isaacson called it a highly productive stretch. But it's also "dark" and "with a real lack of empathy." More on Musk's productivity trance here. Bonus: Happy birthday, Elon Musk!

6. Harvard longevity researcher reveals his morning routine. Oil pulling. "Nontoxic" toothpaste. Supplements. David Sinclair (who is 53) claims these helped cut his "biological age" by 10 years. Some of these habits still lack scientific backing. Check them all out here.

7. Amazon sellers could stop getting paid in a few days. If sellers don't provide certain identification documents, they could stop getting paid. But sellers say the verification process has been plagued with problems. More on the vexing verification system here.

8. Sun activity could fry satellites and cause blackouts this year. The sun has been surprisingly active. Scientists say an unusual burst of sunspots suggest the sun could reach peak activity sooner than expected. Check out the astronomical affair here.


Odds and ends:

The Storm Shadow cruise missile on display outdoors on a plinth during the Paris Air Show in Le Bourget, north of Paris, France, Monday, June 19, 2023

9. UK Storm Shadow missiles are accurate 'almost without fault.' In May, the country gave an undisclosed number of these weapons to Ukraine. At the end of the month, Ukraine said the missiles had a 100% strike success rate. More on the meticulous missiles here.

10. The highest paying jobs in each state. An Insider analysis found that healthcare roles are the top paying jobs in more than 40 states. In New York and Florida, cardiologists make the most. Get the full list of top-dollar roles here.


What we're watching today:


Curated by Diamond Naga Siu in San Diego. (Feedback or tips? Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Alistair Barr (tweet @alistairmbarr) in Silicon Valley and Hallam Bullock (tweet @hallam_bullock) in London.

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