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The latest news from Business Insider

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    IP gift guide banner

    The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.

    Etsy pillows

    When picking out a gift for someone you care about, there are plenty of things to consider, but one of the most important is that it's unique. There's nothing worse than spending time thoughtfully picking out a gift just to find out that your recipient has already received it — or already owns it. If you find it hard to avoid generic gifts, you might just be looking in the wrong places. 

    Etsy is an online marketplace where all types of vendors from all over the world can set up online shops to sell their handmade and vintage goods. You can find literally any item imaginable on the site, from beautiful handmade jewelry, to artisanal chocolates and even hand-knit dog sweaters.

    Given the breadth of items, you can be sure you'll find a gift on Etsy that is one-of-a-kind. We checked out the site and found some pretty unique gifts that cater to all different tastes, hobbies, budgets, and personalities. Keep reading for 50 unique gifts you can find on Etsy.

    A caddy that brings their favorite activities to bath time

    TimberGroveStudios Bathtub Caddy, from $34.95



    A customized map of their favorite place

    Mapologist Personalized Map Print, from $27



    A revitalizing body polish

    Birchrose and Co Ginger +Citrus Lavender Body Polish, $22



    See the rest of the story at Business Insider

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    Uber driver car logo

    • New York City is the first US city to adopt a minimum wage for drivers working for ride-hailing services like Uber and Lyft
    • The city's Taxi and Limousine Commission (TLC) said on Tuesday that it passed rules that will require "high volume" drivers of for-hire vehicles to receive a wage per trip that corresponds to $27.86 per hour, or $17.22 after expenses.
    • The rules will go into effect in the middle of January.
    • Representatives for Uber and Lyft told Business Insider that the companies disagreed with the wage floor, saying it would have a negative effect on prices and driver behavior.

    New York City is the first US city to adopt a minimum wage for drivers working for ride-hailing services like Uber and Lyft. 

    The city's Taxi and Limousine Commission (TLC) said on Tuesday that it passed rules that will require "high volume" drivers of for-hire vehicles to receive a wage per trip that corresponds to $27.86 per hour, or $17.22 after expenses. The rules will go into effect in mid-January.

    "New York City is the first city globally to recognize that the tens of thousands of men and women who are responsible for providing increasingly popular rides that begin with the touch of a screen deserve to make a livable wage and protection against companies from unilaterally reducing it," TLC chair Meera Joshi said in a statement.

    According to the commission, the rules will result in the equivalent of a $10,000 annual raise for 96% of New York City's Uber, Lyft, Juno, and Via drivers. A report commissioned by the TLC found that median earnings for high-volume drivers of for-hire vehicles decreased by over 10% between 2016 and 2017.

    Read more: The company that's empowering ride-hailing drivers already has 20 million miles of data under its belt — and its launch in the US' hottest market should have Uber and Lyft very worried

    Representatives for Uber and Lyft told Business Insider that the companies disagreed with the wage floor, saying it would have a negative effect on prices and driver behavior.

    "The TLC’s implementation of the City Council’s legislation to increase driver earnings will lead to higher than necessary fare increases for riders while missing an opportunity to deal with congestion in Manhattan’s central business district," an Uber representative said.

    "The TLC’s proposed pay rules will undermine competition by allowing certain companies to pay drivers lower wages, and disincentives drivers from giving rides to and from areas outside Manhattan. These rules would be a step backward for New Yorkers, and we urge the TLC to reconsider them," a Lyft representative said.

    A Via representative did not indicate that the company opposed the wage floor. 

    "As the industry leader in driver earnings in New York City, we are looking forward to working with the TLC on implementing this rule," the representative said in a statement.

    Juno did not immediately respond to Business Insider's request for comment.

    The New York City Council in August voted in favor of establishing a minimum wage for ride-hailing drivers and preventing ride-hailing services from hiring new drivers for a year. The decision came after a report from transportation analyst Bruce Schaller that said ride-hailing services increased traffic congestion.

    In July, the New York Unemployment Insurance Appeal Board issued a ruling that requires Uber to provide unemployment benefits for its drivers.

    SEE ALSO: Uber's new rates are designed to make driver payout more consistent, but some say it has decreased their earnings

    Join the conversation about this story »

    NOW WATCH: This LEGO Bugatti Chiron is drivable — here's what it can do


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    michael rubin

    • Philadelphia 76ers co-owner Michael Rubin spoke to Business Insider about his team's wild season.
    • Rubin said newly acquired superstar Jimmy Butler has changed the organization on and off the court and has been more impressive than they thought.
    • Rubin spoke about Joel Embiid's larger-than-life personality, including a harrowing tale of forcing Embiid down a waterslide.
    • Rubin also called the fan petition to ban Kendall Jenner, who is dating Ben Simmons, from Sixers games "ridiculous."

    It's been a momentous year for the Philadelphia 76ers, and the season isn't even halfway through.

    After a sluggish start, the team pulled off a blockbuster trade for All-Star guard/forward Jimmy Butler, pairing him with fellow superstars Joel Embiid and Ben Simmons. The team has since won eight of ten games and appears to be among the contenders in the Eastern Conference.

    Conversely, the team has also dealt with the extended Markelle Fultz saga. The 2017 No. 1 pick has once again dealt with shooting issues, with his agent announcing that Fultz would be seeing specialists to diagnose issues in his shoulders. On Tuesday, it was reported that Fultz has a nerve issue that will force him to him miss three to six weeks while he rehabs.

    Read more:Doctors have discovered a nerve condition in Markelle Fultz's neck and shoulder that may have led to his perplexing shooting woes

    After speaking at Business Insider's IGNITION conference, 76ers co-owner Michael Rubin briefly spoke with INSIDER to discuss the 76ers' whirlwind season, from the Butler trade, to his favorite Embiid story, Simmons' relationship with Kendall Jenner, and Fultz.

    Scott Davis: What convinced you guys to make the move for Jimmy Butler?

    jimmy butlerMichael Rubin: Anything every team wants to do is, how do you strengthen the team on the court day in and day out? I think for the Sixers, it was certainly a great opportunity to bring in another superstar and to go from two superstars to three superstars is incredible.

    Davis: What has surprised you about Butler's fit with the team? What conceptions did you have about him that have been different in reality?

    Rubin: I think Jimmy's been incredible. We thought this was a guy who's incredibly tough, and he's even tougher than we thought. The way he's been able to take two game-winning shots in his first few games just shows what he's made of. He's got a lot of experience. He's a real baller making a real difference. He's making a difference on the court and off the court, really in every aspect of the organization.

    Davis: How have Butler and Joel Embiid worked together? There was some talk about whether two big personalities like theirs would clash. How has it been?

    Rubin: I don't think it's a secret that I'm incredibly close with Jo. We talk about this all the time. I think they're jelling really well. I think they're liking each other. I think they really believe in each other.

    I think, to be honest, the way I've seen Ben, Joel, and Jimmy all grow has been pretty incredible. I think Jimmy's come in with the right attitude: 'Hey, I don't care if I don’t make as many shots as I used to because I've got two other superstars. I just want to win at all costs.' By the way, that's someone we wanted, someone who had a winning attitude. And that's what he brings to the table.

    joel embiid ben simmons jimmy butler

    Davis: What's your best Joel Embiid story?

    Rubin: I mean, how many days do you have to be here? I've got so many incredible Joel Embiid stories.

    Well, one that's pretty well known, we went to a friend's birthday together in the Bahamas earlier this year. Joel, we had to convince him to go down a waterslide. After we got down the waterslide, in the Bahamas, there was, like, a rapid river and it was about two feet high. And Joel literally started hyperventilating and he thought he was drowning. I'm like, 'Jo, stand up, stand up! You're okay, bro!' And he was literally like, it was like two feet of water that a five-year-old could stand up in, and he was literally drowning in the water.

    Davis: Was there a moment of panic that your franchise star was going to drown in a lazy river?

    Rubin: No, there was no moment of panic. It was two feet of water. I was 100% convinced that he could, on his knees, even if he just pushed his hands up, he'd be okay.

    Scary experience that will never happen again... Fought for my life holding on to the sides, almost drown because Black people cant swim but It was fun #TheProcess

    A post shared by Joel "The Process" Embiid (@joelembiid) on May 19, 2018 at 6:40pm PDT on

    Davis: There's Embiid's on-court persona, which is well known. What's he like off of the court? Is there something people don't realize about him?

    Rubin: No, the Joel you see on the court is exactly what you have off the court. He's that much of a character day-in and day-out.

    We went, we challenged Joel to a little sales competition in the NBA Store last week. On the way, I walked into my apartment, and Joel had ordered five dozen Krispy Kreme doughnuts. ... He wanted to figure out how to fatten me up because he thought he could torture me and that was the fun thing to do ... I'm not going to speak to how many he had, but it was a both disappointing — because we don’t want him eating sugar like that — but also impressive amount of doughnuts consumed.

    Davis: Is it true he had to be cut off of Shirley Temples?

    Rubin: He is not cut off from Shirley Temples.

    Davis: What do you think about the petition that fans signed to keep Kendall Jenner from Sixers games?

    Read more: Nearly 10,000 people have signed a petition to ban Kendall Jenner from attending 76ers basketball games

    kendall jennerRubin: I think it's ridiculous. I think Kendall's awesome. I've spent a bunch of time with her. I was with Kendall a few days ago and Kendall insisted on going home and getting a good night's sleep when Ben wanted to stay out for a late dinner. So, Kendall's been a great influence on him, and we've won every game she's been at but one so far.

    Davis: Turning to something more serious, there's a lot of speculation about the Markelle Fultz situation. What is the team doing to support him and help him through whatever he is going through?

    Editor's note: ESPN reported that Fultz was diagnosed with thoracic outlet syndrome, a condition affecting the nerves between his neck and shoulders, resulting in a limited range of movement, shortly after this interview.

    Rubin: Look, Markelle is an incredible human being. I know him well. You couldn't get a more likable individual. I think we're doing everything we can to support him on the court and off the court. We're gonna make sure he gets the best medical care possible and we're gonna do everything we possibly can to support him.

    Join the conversation about this story »

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


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    Michael Flynn

    • In a sentencing memo, the special counsel Robert Mueller's office recommended that former national security adviser Michael Flynn not to be incarcerated.
    • Although much of the memo is redacted, including the extent of Flynn's cooperation with the Justice Department, it states that he assisted in the investigation "on a range of issues"
    • Flynn's timely cooperation in the investigation was described as "particularly valuable," because he was believed to be "one of the few people with long-term and firsthand insight."
    • Flynn pleaded guilty to lying to the FBI about his contacts with Russian ambassador Sergey Kislyak in 2016, shortly before President Donald Trump's inauguration.
    • In 2017, Trump did not rule out pardoning Flynn and accused the Justice Department of wrongdoing.

    In a sentencing memo released on Tuesday, the special counsel Robert Mueller's office recommended no jail time for former national security adviser Michael Flynn, after he was found to have lied to federal investigators about his contacts with Russian ambassador Sergey Kislyak.

    "Given the defendant's substantial assistance and other considerations set forth below, a sentence at the low end of the guideline range — including a sentence that does not impose a term of incarceration — is appropriate and warranted," the memo said.

    Although much of the memo is redacted, including the extent of Flynn's cooperation with an unspecified "criminal investigation," it states that he assisted in the investigation "on a range of issues" by agreeing to 19 interviews, and "provided firsthand information about the content and interactions between [Trump's] transition team and Russian government officials."

    Flynn also appears to have cooperated with investigators early on in their probe. Flynn's timely cooperation in the investigation was described as "particularly valuable," because he was believed to be "one of the few people with long-term and firsthand insight," according to the memo.

    After delaying Flynn's case numerous times this year, prosecutors signaled in September that the case was ready to move forward with sentencing. Mueller's office kept a tight lip on the case and reportedly recommended to the judge that it and Flynn's counsel not reveal any new information about any developments or the extent of Flynn's cooperation, prior to the 2018 midterm elections in November.

    Flynn is scheduled to be sentenced on December 18.

    Flynn's denial of Russian contacts

    Despite having denied discussing US sanctions against Russia with Kislyak, Flynn was discovered to have had done so in late 2016.

    In December 2016, Flynn contacted the Kremlin to push for a block on a United Nations Security Council resolution on settlements in Israel, after he appeared to be instructed by White House senior adviser and Trump's son-in-law Jared Kushner.

    That same month, Flynn reached out to Kislyak again. Following then-President Barack Obama's fresh sanctions against Russia in response to interfering in US elections, Flynn reportedly spoke with Kislyak numerous times, and advised"not escalate the situation and only respond to the US Sanctions in a reciprocal manner," according court filings.

    Russian President Vladimir Putin would later release a statement suggesting he would not retaliate against the US, and Kislyak informed Flynn of Russia's decision. Flynn would go on to discuss his interactions with the Kremlin with senior members of Trump's transition team.

    The former three-star US Army general and director of the Defense Intelligence Agency had ardently supported President Donald Trump's 2016 campaign, eventually landing a role in the White House as Trump's national security advisor.

    Read more: Mueller is about to drop major new details about 3 of the most important players in the Russia probe

    flynn

    Following news of Flynn's Russia contacts, Vice President Mike Pence was caught in a crossroad after saying Flynn did not discuss sanctions. Trump declined to act for weeks after news of Flynn's conversations came to light, despite warnings from then-acting attorney general Sally Yates that Flynn misled investigators.

    Trump fired Flynn for lying to the FBI in February, but remained adamant that he did not do anything unlawful.

    "I had to fire General Flynn because he lied to the Vice President and the FBI," Trump tweeted in December 2017. "He has pled guilty to those lies. It is a shame because his actions during the transition were lawful. There was nothing to hide!"

    "The president was very concerned that Gen. Flynn had misled the vice president and others," then-White House press secretary Sean Spicer said, following Flynn's firing.

    "The president must have complete and unwavering trust for the person in that position," Spicer added. "The evolving and eroding level of trust as a result of this situation in a series of other questionable instances is what led the president to ask for Gen. Flynn's resignation."

    Flynn pleaded guilty to lying to federal investigators in December, the first of numerous senior Trump officials, and he has since cooperated with Mueller's office in relation to its investigation into possible collusion between the Trump campaign and Russia. Former Trump campaign chairman Paul Manafort and former Trump attorney Michael Cohen have also pleaded guilty to a litany of crimes, including lying to Congress and investigators.

    In December 2017, Trump did not rule out pardoning Flynn and accused the Justice Department of wrongdoing.

    "I don't want to talk about pardons with Michael Flynn yet," Trump said. "We'll see what happens, let's see."

    SEE ALSO: Mueller is about to drop major new details about 3 of the most important players in the Russia probe

    Join the conversation about this story »

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


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    Mossack Fonseca & Co. of Panama Papers

    • The US Department of Justice (DOJ) revealed Tuesday that four people had been charged with fraud and other crimes following an investigation into the Panama Papers released in 2016.
    • Those charged included an accountant, investment manager, a client, and a lawyer.
    • Three of the four have been arrested. 

    Over two years after the release of the Panama Papers revealed that a coterie of powerful people (including some politicians) had hired a Panamanian law firm to avoid personal and business taxes, the US Department of Justice has revealed an indictment against four individuals for charges that include wire fraud, tax fraud, money laundering, and other offenses.

    Three of the four — Richard Gaffey of Massachusetts, Dirk Brauer of Germany, and Harald Joachim Von Der Goltz of Germany — have already been arrested. Ramses Owens of Panama is seemingly still at large. 

    Read more: Son of slain Panama Papers journalist rages against politicians: ‘This is what war looks like’

    Gaffey of Medfield, Massachusetts (the lone American named) was charged with one count of conspiracy to commit tax evasion, one count of wire fraud, one count of money laundering conspiracy, and four counts of willful failure to file an FBAR (an IRS form required for high-value foreign accounts). 

    Brauer was reportedly an investment manager at Mossfon Asset Management, S.A., which the DOJ says worked closely with Panamanian law firm Mossack Fonseca. 

    Information about Von Der Goltz and Owens was not immediately available. 

    "Law firms, asset managers, and accountants play key roles enabling entry into the global financial system," Assistant Attorney General Brian Benczkowski said in a statement. "The charges announced today demonstrate our commitment to prosecute professionals who facilitate financial crime across international borders and the tax cheats who utilize their services."

    According to the DOJ and the Panama Papers, the subjects of the suit used Mossack Fonseca to create a series of shell companies that were used to conceal their wealth and avoid taxes.

    Owens and Brauer allegedly set up offshore accounts for clients of Mossack Fonseca to hide wealth.

    Von Der Goltz was allegedly a client of Mossack Fonseca and reportedly used its services while living in the US and paying US taxes, making him vulnerable to the charges.

    Gaffey, an accountant, allegedly helped connect Von Der Goltz and Owens, and assisted in connecting another client, called "client-1" in the DOJ release, to Mossack Fonseca. 

    The Panama Papers famously showed evidence that this strategy was used by leaders such as Iceland's former prime minister Sigmundur Davíð Gunnlaugsson

    SEE ALSO: How the super-wealthy hide billions using tax havens and shell companies

    Join the conversation about this story »

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


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    Brad Katsuyama 2

    • Brad Katsuyama, CEO of IEX and the star of Michael Lewis book "Flash Boys," spoke on Tuesday at Business Insider's IGNITION 2018 conference.
    • Katsuyama said successful entrepreneurship means having experienced the problems you're trying to solve.
    • He was a trader for years and felt there was a need for an alternative exchange that would prevent predatory trading.
    • Katsuyama said, "In the lowest possible moments, where possibly you're even doubting yourself, you have to have a core belief that what you're trying to do is real."

    Brad Katsuyama has one "critical" piece of advice for other entrepreneurs: "You have to have experienced the problems that you're trying to solve."

    Katsuyama is the CEO of upstart stock exchange IEX, and is best known as the star of Michael Lewis' 2014 bestseller, "Flash Boys."

    At Business Insider's IGNITION conference in New York Tuesday, Katsuyama said, "If you're doing something controversial, there's going to be a lot of people fighting against you. In the lowest possible moments, where possibly you're even doubting yourself, you have to have a core belief that what you're trying to do is real. It's a problem that needs to be solved."

    Katsuyama added, "When your back's against the wall, you have to firmly believe that, or you're never going to make it through."

    IEX was born out of Katsuyama's experience as a trader at Royal Bank of Canada: He founded the company in 2012 as a new exchange that would prevent the predatory trading that took place on traditional US exchanges.

    In September 2018, IEX snagged its first listing from Nasdaq, Business Insider's Frank Chaparro reported.

    "I lived the story," Katsuyama said of the "Flash Boys" plot. "Never for a second have I doubted what I lived through."

    Katsuyama's memory of his experiences as a trader kept him going through the ups and downs of launching IEX.

    Read more: IEX CEO Brad Katsuyama talks about life after 'Flash Boys' and how he's taking on the New York Stock Exchange and Nasdaq

    Some other successful entrepreneurs have similar advice. Neil Blumenthal, CEO of Warby Parker said the best way to discover a solid business idea is to write down your frustrations every day.

    Interestingly, Blumenthal also said that many entrepreneurs "needed to live a little and experience a little bit of life to identify where there are problems that need solving."

    As for Katsuyama, he said, "At the end of the day, when no one believes in your idea, you have to be the one who believes in it."

    SEE ALSO: IEX CEO Brad Katsuyama talks about disrupting Wall Street and the power of 'Flash Boys' on the upstart exchange

    Join the conversation about this story »

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    Airbus A321 JetBlue sustainable jet fuel blend

    • US travel and credit card review website The Points Guy held their inaugural TPG Awards on Tuesday at the Intrepid Sea, Air & Space Museum in New York.
    • Award winners were selected for excellence in the airline industry, hospitality, and credit cards. 
    • JetBlue won for the best domestic economy and best premium cabin while Qatar Airways and Emirates won for best international business and best international first class respectively. 
    • Winning airlines were selected by the website's editorial staff based on a score-based review process. 

    US travel and credit card website The Points Guys held their inaugural TPG Awards on Tuesday. The gala, which was hosted by website-founder Brian Kelly at the Intrepid Sea, Air & Space Museum in New York, saw the world of airlines converge with those of credit cards and hospitality. 

    JetBlue and its Airbus A321 Transcon service won big. The New York-based airline took home both the award for Best Domestic Economy Class and Best Premium Cabin. 

    The Qatar Airways Q Suite won for Best International Business Class while Emirates's A380 service won for Best International First Class. 

    Read more: Take a look inside the $218 million Boeing Dreamliner private jet the new president of Mexico is selling because it's 'too lavish.'

    The TPG airline award winners were selected by the website's editorial staff who narrowed the field down to a handful of finalists. The staff then reviewed each of the finalists on a score-based template. 

    The TPG Awards for best credit cards and hospitality loyalty programs were selected by the website's readers in two round of voting. The first round of voting narrowed down the finalists, while the second round selected the winners. According to The Points Guy, thousands of readers participated in the voting process.

    Delta Air Lines SkyMiles nabbed the Readers' Choice award for best US Airline Loyalty program. Marriot/SPG/Ritz-Carlton was crowned Best Hotel Loyalty Program. 

    SEE ALSO: Alaska Airlines is selling $39 one-way tickets for only 2 days

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    Join the conversation about this story »

    NOW WATCH: This LEGO Bugatti Chiron is drivable — here's what it can do


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    trader joe's 5

    • Retail work can be rough — but some retailers have proven to be positive and dynamic workplaces.
    • Glassdoor just ranked the best places to work in 2019.
    • Among retailers, apparel company Lululemon took the top spot in 2019.

    Retail work isn't always easy— but some companies provide a better environment for employees than others.

    Glassdoor just ranked the best places to work in 2019. Eight retail companies made the job site's list this year, accruing average scores on Glassdoor well above the site average of 3.4

    Glassdoor also provided Business Insider with seven additional companies that just missed out on the top 100 rankings. A Glassdoor spokesperson confirmed that none of the scores indicate ties, as the ratings go beyond the thousandth decimal place.

    Here are the top retailers to work for in 2019:

    SEE ALSO: Ikea announced it would be raising wages for its most 'disgruntled' group of US employees

    DON'T MISS: From entire lawn sets to used toilets, these are the most ridiculous returns employees from Costco, Walmart, and Target say they've ever gotten

    15. LUSH North America

    Glassdoor score: 4.1

    "The culture of Lush is really great," a Glassdoor reviewer wrote on June 1, 2018. "They're extremely accepting of all kinds of people, they give a lot to charity, and seem to truly believe in the products."



    14. Ralph Lauren

    Glassdoor score: 4.1

    "I feel incredibly fortunate to work for a company that has uncompromising brand and customer service standards and strong balance sheet," a Glassdoor reviewer wrote on June 27, 2018.



    13. Publix

    Glassdoor score: 4.1

    "A great company to work for," one Glassdoor reviewer wrote on November 12, 2018. "Great for a first job to anyone looking for a job. Flexible hours to meet family needs."



    See the rest of the story at Business Insider

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    Cisco

    • Jobs and recruiting site Glassdoor has announced its annual list of The 100 Best Places to Work in 2019, based on employee reviews and ratings.
    • Of the top 100 large companies, 29 were tech companies.
    • Below, we've compiled Glassdoor's 2019 list of The Best Places to Work in tech.

    Thinking about leaving your tech job, but getting lost in a sea of job postings? 

    On Tuesday, the jobs and recruiting site Glassdoor revealed its annual list, The 100 Best Places to Work in 2019, which could help those looking to narrow their job search. The ranking was decided based on employee reviews and ratings on Glassdoor, and of the 100 best-reviewed companies to work at, 29 were tech companies.

    Some are household names, like Facebook — which was #1 on the 2018 list but dropped several spots following a scandal-filled year. Others companies that made the cut are lesser known but are still providing exceptional experiences for their employees. 

    Here is Glassdoor's 2019 list of the best places to work in tech:

    29. World Wide Technology

    Overall ranking: #99 

    Company rating: 4.2 

    What it does: Technology consulting 

    What employees say:"Bar none, THE BEST place I have ever worked."— World Wide Technology Senior Consultant (Denver, Colorado)

     



    28. Expedia Group

    Overall ranking: #92

    Company rating: 4.2

    What it does: Travel technology 

    What employees say:"Expedia is the best place to work. I have been here for 11 months and enjoying every single day. The culture is upbeat, leadership is transparent, clear on direction, very well organized process oriented company. Awesome work life balance."Expedia Software Engineering Manager (Chicago, Illinois)



    27. HP Inc.

    Overall ranking: #87

    Company rating: 4.2

    What it does: Maker of laptops, PC desktops, printers, and more. 

    What employees say: "HP's global footprint makes it unique in allowing you to have a BIG impact. Senior leaders are quality execs who've proven their mettle. Lots of opportunity to contribute given the size of the businesses."— Anonymous HP Employee 



    See the rest of the story at Business Insider

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    Rudy Giuliani

    • Rudy Giuliani, President Donald Trump's attorney, suggested his Twitter account was invaded after he unintentionally tweeted a link to an anti-Trump website.
    • Giuliani appears to have neglected to include an additional space at the end of his sentences, causing his tweet to link to the website "G-20.In," a website with a domain from India.
    • The website currently displays a terse message about President Donald Trump.
    • In a tweet, Giuliani suggested — without evidence — that Twitter, may have been involved in linking his tweet to the apparent anti-Trump website.

    Rudy Giuliani, President Donald Trump's attorney and former mayor of New York City, suggested his Twitter account was compromised after his account unintentionally tweeted a link to an anti-Trump website.

    "Twitter allowed someone to invade my text with a disgusting anti-President message," Giuliani said on Twitter.

    Giuliani appeared to be referring to a previous tweet sent on Friday about special counsel Robert Mueller's ongoing Russia probe. The investigation reached a milestone on Tuesday after Mueller filed a memo recommending no prison time for former national security adviser Michael Flynn.

    In his tweet, the president's attorney railed against Mueller for the timing of the special counsel's legal moves, two of which were issued while Trump was traveling abroad.

    Giuliani referenced Trump's trip to the G-20 summit in Argentina last week, which followed former Trump attorney Michael Cohen pleading guilty; and Trump's Helsinki summit with Russian President Vladimir Putin in July, which came days after 12 Russian military officials were indicted for hacking Democratic Party operatives' computers.

    "Mueller filed an indictment just as the President left for G-20.In July he indicted the Russian who will never come here just before he left for Helsinki.Either could have been done earlier or later. Out of control!Supervision please?" Giuliani tweeted earlier on Tuesday.

    Giuliani appears to have neglected to include an additional space at the end of his sentences, causing his tweet to link to the website "G-20.In," a website with a domain from India.

    The website itself shows a terse message:

    Screen Shot 2018 12 04 at 8.05.58 PM

    Read more: 'Covfefe': Trump lit up Twitter with one misspelled word — and then made a joke about it

    Giuliani suggested without evidence that Twitter may have been involved in linking his tweet to the apparent anti-Trump website. 

    "The same thing-period no space-occurred later and it didn't happen," Giuliani said in his tweet. "Don't tell me they are not committed cardcarrying [sic] anti-Trumpers. Time Magazine also may fit that description. FAIRNESS PLEASE."

    The tweet has since received around 16,000 retweets and 43,000 "likes," making it one of the most-circulated messages on his account.

    Giuliani has also made several gaffes on Twitter in recent days. On Friday, he tweeted "Kimim ° has f," prompting the Twitterverse to speculate on what he intended to type.

    In recent weeks, the social media platform banned numerous political operatives, including conspiracy theorist Alex Jones and far-right provocateur Laura Loomer. Twitter's decision sparked backlash from both sides of the political aisle, worrying some who fear that the company will be taking a more active role in censoring its content.

    SEE ALSO: 'Covfefe': Trump lit up Twitter with one misspelled word — and then made a joke about it

    Join the conversation about this story »

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


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    mark cuban ignition 2018.JPG

    • Mark Cuban spoke at Business Insider's IGNITION conference Monday afternoon.
    • The "Shark Tank" star and Mavericks' owner wasn't there to discuss the show, instead he spoke about Paladin, a startup he backs which pairs up lawyers pro bono with those who can't afford legal aid.
    • He didn't mention the ABC show at all and he didn't need to — he let his clothes do all the talking. 
    • Cuban wore socks with sharks on them. Subtle.

    Mark Cuban appeared at Business Insider's IGNITION conference Monday to discuss his latest backing, Paladin, a company designed to pair lawyers with people who can't afford legal aid. (You can read more on Paladin here.)

    While he didn't come to talk about his role on the ABC show, he subtly reminded everyone he's a shark.

    As Cuban sat on stage, I spied the Mavericks' owner wearing quite the conversation starter. Cuban's socks fittingly had tiny sharks on them.

    mark cuban socks.JPG

    Take a closer look:

    mark cuban shark socks

    Even if you were at the conference, you probably would have missed them if you weren't seated in one of the first rows.

    You can follow along with our IGNITION coverage here

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


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    michael flynn

    Hello! Here's everything you need to know on Wednesday.

    1.  The big tech FAANG stocks just lost a combined $141 billion. The biggest loser among the tech giants was Amazon, which lost $51 billion in market value.

    2.  Special Counsel Robert Mueller revealed Michael Flynn was interviewed by investigators 19 times. Flynn's timely cooperation in the investigation was described as "particularly valuable," because he was believed to be "one of the few people with long-term and firsthand insight."

    3.  New York just led the way on securing minimum wages for Uber drivers. It's the first US city to adopt a minimum wage for drivers at ride-hailing companies like Uber and Lyft.

    4.  Facebook temporarily took down a post from a former employee that shared his experience of racism.The memo detailed the racism he said experienced at Facebook and alleged the social network was failing its black users and employees.

    5.  US Senators are furious with Saudi Arabia and particularly the crown prince. CIA Director Gina Haspel briefed senators on the killing of Jamal Khashoggi, who now say there is little doubt that Mohammed bin Salman ordered the murder.

    6.  A letter from Albert Einstein disputing God sold for $2.9 million at auction.Commonly known as the “God letter,” it details Einstein's qualms about religion. 

     7.  Reddit cofounder Alexis Ohanian said the world needs to ignore the siren song of "hustle porn."Ohanian spoke against the popularity of an online "success" culture promoting constant exhaustion.

    8. Ukraine's military chief said Russia currently poses the most direct threat since 2014. General Viktor Muzhenko says the massing of Russian T-62 M tanks 11 miles from the Ukrainian border had more than doubled to 250 in just two weeks.

    9. A friend of Jamal Khashoggi is suing Israeli spyware firm NSO Group for allegedly helping Saudi agents hack his phone. Canadian dissident Omar Abdulaziz was targeted by the group's spyware which may have accessed communication between him and Khashoggi.

    10. Chinese police have smashed a turtle smuggling ring, collecting shells and dozens of accessories. Nineteen turtle smugglers have been arrested on charges of killing and selling the highly sought and increasingly endangered animals.

    And finally ...

    Harvard scientists are watching this interstellar object for a very good reason

    Join the conversation about this story »

    NOW WATCH: The first woman in space almost didn't make it back to Earth and she had to keep it a secret for 30 years


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    new caledonia reefs satellite

    A powerful magnitude 7.5 earthquake struck off the coast of New Caledonia on Wednesday, prompting evacuation orders and tsunami warnings in Vanuatu and Fiji. 

    The quake occurred at a shallow depth of 10 kilometers (6.2 miles) below the sea and about 168 kilometers (104 miles) east of Tadine Bay in New Caledonia. Earthquakes are typically more destructive when the epicenter is closer to the surface. 

    No damages or injuries have been reported as of Wednesday evening. 

    The Pacific Tsunami Warning Center issued warnings of tsunami waves of between 1 and 3 meters (3 and 10 feet) along the Southern Pacific, including in Vanuatu and Fiji. 

    The center added that there was no threat to Hawaii.

    Authorities issued evacuation warnings as several aftershocks hit the region. The New Caledonian high commission initially issued a tsunami warning for all the country, but downgraded the warning for the country's west coast.  

    initially issued a tsunami warning for all of New Caledonia, ordering the “immediate evacuation” of people to refuge areas and the “application of safety instructions”.

    New Caledonia sits along the Pacific "Ring of Fire," and is prone to earthquakes and volcanic activity. The Loyalty Islands region is active seismically, and has seen several large earthquakes in recent months. 

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    NOW WATCH: The true story behind Boston gangster Whitey Bulger


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    Rudy Giuliani

    • Rudy Giuliani, President Donald Trump's attorney, downplayed any concerns following the release of special counsel Robert Mueller's latest court filings.
    • In a memo and addendum, Mueller recommends a lenient sentence for former national security adviser Michael Flynn, who pleaded guilty to lying to the FBI about his contacts with the Russian ambassador.
    • Mueller cites Flynn's extensive cooperation in the Russia probe and an unspecified criminal investigation, and his service in the military, for his recommendation to a District Court judge.
    • Flynn is scheduled to be sentenced on December 18.

    Rudy Giuliani, President Donald Trump's attorney, downplayed any concerns following a legal memo that indicated former national security adviser Michael Flynn, who pleaded guilty to lying to the FBI about his contacts with the Russian ambassador, had extensively cooperated with prosecutors on the Russia investigation and an unspecified criminal investigation.

    "Wow big crime for a SPECIAL WHATEVER," Giuliani said in a text message to Politico, adding that "maybe a group of Angry Bitter Hillary Supporters who are justifying themselves by the goal justifies the means."

    Giuliani also described the latest developments as "over the top In ethical [sic] behavior," according to Politico.

    In an interview with NBC News, he referred to Flynn and said, "if he had information to share with Mueller that hurt the president, you would know it by now."

    "There's a Yiddish word that fits," Giuliani said. "They don't have bupkis."

    Read more: Mueller filing reveals Michael Flynn interviewed with investigators 19 times, recommends no jail time

    In a heavily redacted addendum attached to the memo released on Tuesday night, special counsel Robert Mueller's office recommended no jail time for Flynn, who had assisted in the investigation "on a range of issues" and "provided firsthand information" on the ongoing Russia investigation and a criminal investigation.

    "Given the defendant's substantial assistance and other considerations set forth below, a sentence at the low end of the guideline range — including a sentence that does not impose a term of incarceration — is appropriate and warranted," the court filings said.

    Flynn is scheduled to be sentenced on December 18 for misleading the FBI on his contacts with Russia. Flynn pleaded guilty to lying to federal investigators in December 2017, the first of numerous Trump officials, including former Trump campaign chairman Paul Manafort and former Trump attorney Michael Cohen.

    SEE ALSO: Mueller filing reveals Michael Flynn interviewed with investigators 19 times, recommends no jail time

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


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    Tesla Model 3

    Good morning! This is the tech news you need to know this Wednesday.

    1. Qualcomm revealed a new under-display fingerprint reader. The technology uses ultrasonic waves that bounce off your skin.
    2. Tesla's factory is a "crowded mess," according to its most bullish Wall Street analyst, who says production is about 30% below the original target. Pierre Ferragu of New Street Research toured the company's Fremont, California, factory last week.
    3. A new law was voted through in New York City guaranteeing Uber and Lyft drivers a minimum wage. New York is the first US city to give a minimum wage to ride-hailing app drivers, who are now entitled to $17.22 per hour.
    4. Tim Cook appeared to take a swipe at Facebook, YouTube, and Twitter in a speech railing against white supremacy. Cook said Apple showed has this year that it won't enable "violent conspiracy theorists," in an apparent reference to Alex Jones, who Apple permanently banned from its platforms.
    5. The big tech stocks lost $141 billion in market value on Tuesday, enough to buy McDonald's. The biggest loser among the tech giants was Amazon, which lost $51 billion in market value.
    6. Chinese tech giant Huawei is planning to unveil a smartphone with a camera capable of taking 3D photos, Bloomberg reports. People familiar with the matter told Bloomberg that the project is codenamed "Princeton."
    7. Reddit cofounder Alexis Ohanian said at Business Insider's IGNITION conference that we've hit "peak social," and that's bad news for Facebook, Twitter, and Instagram. Ohanian predicted that users will move away from the big social networks toward new, more community-focused platforms.
    8. Quora revealed that 100 million users may have had their account information stolen in a massive data breach. Account information, including name, email address, encrypted password, and data imported from linked networks may have been compromised, the site said.
    9. Britain's spy chief joined the US in sounding the alarm on the Chinese company that sells more phones than Apple. The head of MI6 Alex Younger warned that Chinese phone giant Huawei could pose a threat to British security.
    10. Facebook temporarily took down a post by a former employee complaining about racism at the company. Last week, Mark Luckie publicly shared a memo detailing his experiences of racism at the company. He said Facebook has a "black people problem."

    Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.

    Join the conversation about this story »

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


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  • 12/05/18--00:48: What is the Norway model?
  • Theresa May

    LONDON — As Theresa May prepares for her Brexit deal to be defeated in the House of Commons, the suggestion that the prime minister should instead seek a "plan B" of replicating Norway's relationship with the EU is gaining traction.

    Under the plan pushed by MPs like Conservative Nick Boles and Labour's Stephen Kinnock — which is reportedly backed by several leading Cabinet remainers — the UK would copy Norway's relationship with the EU after Brexit, either temporarily until new free trade agreement with the EU is ready, or on a permanent basis. 

    There is a growing belief that something like the Norway model would win a majority of MPs over and break the impasse in Parliament. Here's what the Norway model would actually mean in practice. 

    What is the Norway model?

    The Norway model includes two key European organisations: The European Free Trade Association (EFTA) and European Economic Area (EEA). Norway, along with Lichtenstein and Iceland, is a member of both.

    EFTA is made up of the aforementioned three countries, plus Switzerland. They trade between themselves while the group as a whole has free trade deals with numerous non-EU countries, Canada, Mexico and others.

    The EEA, on the other hand, is a collaboration of all EU member states plus three EFTA states: Norway, Lichtenstein, and Iceland. All EEA members — including the EFTA countries — enjoy full access to the European single market.

    EEA membership is only available to either EU or EFTA member states. So, under a Norway-style Brexit, Britain would leave the EU, join EFTA, and then become the 31st full member of the EEA.

    Michel Barnier

    What are the pros of the Norway-style Brexit?

    Being in EFTA-EEA would allow the UK to retain full access to the single market. This would mean reduced barriers to UK-EU trade and continued single market treatment for services, which account for around 80% of the UK economy.

    Most research suggests this would be the least damaging form of Brexit. The government's own impact assessment found the Norway option would be the least damaging option in terms of economic harm.

    And although Britain would retain full single market access, it wouldn't be forced to sign up to some of the EU's more contentious policies. It wouldn't be required to join the EU's Common Fisheries Policy, for example, which is strongly opposed by Brexiteers, particularly Conservative MPs in Scotland. It would also be exempt from the Common Agricultural Policy. The European Court of Justice (ECJ) would also have no jurisdiction over Britain.

    What about the cons?

    Although the UK would finally be free of the ECJ, it would have to answer to the EFTA court, which for most Brexiteers would merely represent another set of unaccountable, interfering foreign judges.

    Then there's the issue of Britain's influence as an EFTA/EEA country. Under the Norway model, Britain would have full access to the single market but have much less say in shaping its rules than it does now as an EU member. Norway does not formally participate in Brussels decision-making but has incorporated around 75% of EU law into its national legislation

    Nick Boles

    What about immigration?

    The elephant in the room here is immigration. The public's desire to control immigration was arguably the biggest driving force for Brexit, and the UK government has vowed to end the free movement of EU citizens. 

    EEA members are required to accept the four freedoms, including the free movement of people. Clearly, this would be politically dangerous for any government. There is one way around that. It's unrealistic — but theoretically possible.

    Article 112 of the EEA Agreement allows non-EU member states to opt out of the four freedoms if they are facing serious economic, societal or environmental strain. For example, Lichtenstein used Article 112 to impose controls on the free movement of people, due to concerns over whether a landlocked country of such modest size and resources could cope with big influxes of people. Obviously, Britain is very different from Lichtenstein, and would likely have a much tougher time arguing for an immigration opt-out. 

    Brexit protest

    What would it mean for the Irish border?

    Perhaps the strongest case for a Norway-style Brexit is that it would go some way to resolving the Irish border dilemma. By remaining fully aligned with EU market rules, Britain would avoid a plethora of non-tariff barriers which would otherwise emerge on the border between Northern Ireland and the Republic. 

    However, a Norway-style relationship wouldn't provide the whole solution for avoiding physical infrastructure on the island of Ireland. In order to also eliminate tariff barriers, Britain would need to be in either the current or a new customs union with the EU after Brexit. Norway is not in a customs union with the EU. 

    Michel Barnier Leo Varadkar

    So how likely is a Norway-style Brexit?

    Earlier this year, the Brexit committee led by Labour's Hilary Benn published a report calling for May to use the Norway option has her official backup if she fails to meet key negotiating goals in Brexit talks with the EU. 

    The idea has gathered momentum in recent weeks as MPs look for alternatives to May's Brexit deal which is almost certain to be be voted down by MPs. The EU has always said the Norway option is available to the UK. 

    However, there are some practical problems. 

    Firstly, although EFTA/EEA countries are generally open to the idea of Britain becoming a permanent member of the club, whether they'd accept temporary membership is a different question.

    Prime Minister Solberg appeared to kill hopes of temporary UK membership in November.

    "We would welcome any good cooperation with Britain. But to enter into an organisation which you’re leaving is a little bit difficult for the rest of us," she said.

    Erna Solberg

    Even if Norway, Iceland and Liechtenstein did grant a temporary stay, it could take up to twelve months for Britain to complete the joining process, while exit day is just months away at the time of writing.

    On top of that is the issue of customs. For a Norway-style model to solve the Irish border problem, it would need to come with a customs union add-on. However, EFTA countries have together signed trade deals with other countries which include customs arrangements. The UK would need to sign up to those, making a customs arrangement with the EU very difficult if not impossible.

    Then we have the question of Westminster politics. Would May be able to sell continued acceptance of EU rules and the free movement of MPs to pro-Brexit MPs? At the moment is looks unlikely, but with British politics in such a volatile environment, anything could happen.

    SEE ALSO: MEPs kicked out of the Conservative Party by Theresa May told us why they're fighting her 'horrendous' Brexit plan

    DON'T MISS: The EU believes Theresa May's 'unstable' government could collapse before Brexit

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


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    Guadalajara Mexico crime scene homicide murder

    • An unidentified person threw two grenades at a US consulate in western Mexico on November 30.
    • The FBI is offering a reward of up to $20,000 for information leading to the arrest of those responsible.
    • The nature and timing of the crime hint at the complexity of Mexico's criminal landscape.

    Hours before the inauguration of Mexico's new president in Mexico City, two grenades were thrown at the US consulate in Guadalajara, the country's second-biggest city and home to one of the largest US expatriate communities in the world.

    A little before 11 p.m. local time on November 30, an unidentified person was caught on film throwing two grenades into the consulate compound in central Guadalajara, which is also the capital of Jalisco state in western Mexico.

    The consulate was closed at the time, and no one was killed or injured, but the blast left a 16-inch hole in an exterior wall, and grenade fragments found at the scene.

    A view shows the facade of the U.S Consulate General in Guadalajara, Mexico, January 7, 2017. REUTERS/Stringer

    The US consulate said the following day that the damage was minimal and that US and Mexican authorities were investigating and "strengthening the security posture" around the consulate. Jalisco state prosecutors also said that federal authorities had taken over the investigation.

    The consulate's operations were limited on Monday, but it resumed normal business on Tuesday.

    Also on Tuesday, the FBI said it was seeking help from the public to identify the person or people involved, offering up to $20,000 for information leading to those responsible.

    "All information can remain anonymous and confidentiality is guaranteed," a notice on the consulate's website said.

    Mixed messages

    The attack came shortly before Andres Manuel Lopez Obrador was sworn in as Mexico's president, and it illustrates the challenging criminal dynamics he confronts.

    Mexico president Andres Manuel Lopez Obrador inauguration

    Attacks on US facilities and personnel in Mexico have been rare, and when they have happened, the response has been forceful.

    Pressure from Washington after the 1985 kidnapping and killing of of DEA agent Enrique "Kiki" Camarena led to the breakup of the powerful Guadalajara cartel, and the US response to the 2011 killing of US Immigration and Customs Enforcement agent Jaime Zapata helped crippled the Zetas cartel, which was linked to the incident.

    While it's possible the attack Friday could be unrelated to organized crime, the timing and nature of the attack suggest it could be related to political and criminal dynamics in the country 

    Guadalajara is the home turf of the Jalisco New Generation cartel, which has grown rapidly over the past decade to become one of Mexico's largest and most violent criminal groups.

    Its rise was boosted by the 2015 shoot-down of a Mexican army helicopter in western Jalisco, killing six soldiers, which came during an operation to capture New Generation leader Nemesio Oseguera Cervantes, or "El Mencho," who is among the US Drug Enforcement Administration's most wanted fugitives.

    Mexico helicopter crash Jalisco CJNG RPG

    Two weeks before the grenades were thrown at the consulate, the cartel purportedly posted a video online in which it threatened to attack the consulate.

    In the recording, a bandaged man says he was ordered to attack the consulate and capture Central American men, women, and children for ransom with which to pay Mexican officials to ignore other criminal activity, according to The Dallas Morning News, which could not independently verify the footage.

    That attack, the man reportedly said, was to be a message to the US to leave "Mencho alone."

    The November 30 attack comes a few weeks into the trial of Joaquin "El Chapo" Guzman in New York City. Guzman is the longtime leader of the Sinaloa cartel, one of Mexico's most powerful criminal groups and a main rival of the New Generation.

    In the past, the arrest or death of criminal leaders has triggered more violence, as others fight to fill the void.

    migrant caravan

    Criminal groups may also be hurting because of Central American migrant caravans crossing Mexico that don't need protection from criminal groups or help from those groups' human-smuggling networks.

    Losing that business ahead of the holiday season have put a strain on cartel leaders, security experts told The Dallas Morning News.

    Mexico's political transition — from the center-right government of Enrique Peña Nieto and his establishment Institutional Revolutionary Party to leftist Lopez Obrador and his new National Regeneration Movement party — may also be stirring turmoil in the underworld.

    In the past, such changes have led to more violence, as criminals and corrupt officials adjust to a new political environment — an attack designed to avoid death or injury may be a signal to those assuming power, 12 years into Mexico's bloody war on drugs.

    Jalisco CJNG cartel Mexico

    The New Generation in recent months has also been challenged in Guadalajara. A new group, called Nueva Plaza, is believed to be led by a one-time confidant of Oseguera, and some have said other rivals, namely the Sinaloa cartel, could be backing the new group.

    In the past, criminal groups have committed high-profile acts, like dumping bodies in public, on rivals' turf to draw authorities' attention there.

    "Remember that the [New Generation] grew exponentially and became what it is now since the beginning of the Peña Nieto government,"Guadalupe Correa-Cabrera, a political science professor at George Mason University and expert on security in Mexico, told The Morning News. "But they should not be attracting attention, and with this attack you're calling for a response from two governments. Why?"

    SEE ALSO: Pablo Escobar was gunned down 25 years ago — here are 3 theories about who took the Medellin kingpin's life

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    NOW WATCH: Here's what 'Narcos' and 'Sicario' get right and wrong about drug cartels


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    trader

    • Asian markets tumble after Trump signals reignited trade-war tensions, following a bloodbath in US stocks markets.
    • Trader sentiment has dragged as fears about global growth and the US economy resurfaced. 

    European equities took a hit Wednesday, following Asian stocks lower as economy and US-China trade-war jitters gripped financial markets. 

    In the US, the Nasdaq and S&P 500 each tumbled more than 3.2% amid growing doubts that a trade deal could be thrashed out between the US and China. A wonky indicator called the "yield curve" also flattened, signaled a weaker outlook for economic growth and fears about a recession.

    President Donald Trump on Tuesday threatened to place "major tariffs" on Chinese goods entering the US, demolishing an uplift in market sentiment after last week's G20 summit in Argentina.

    Read more:The bond market just flashed a major 'red flag' — and it could be signaling a US recession

    The Shanghai Composite index closed down 0.6% Wednesday. European shares followed, with the Euro Stoxx 50, Germany's DAX and France's CAC all down 1%. Fears remain that a US-China trade deal will not be struck in the 90-day negotiating window agreed by the two sides.

    Some analysts suggested that Monday's gains were overdone, given Trump's previously barbed comments. 

    A minor relief rally in US index futures may be masking continued market uncertainty amid the longest bull market since the depths of the financial crisis.

    "There is a strong chance now that the buy the dip mentality has flipped into a sell the rally approach," said Neil Wilson, chief markets analyst for markets.com. 

    Oil investor sentiment tracked that of equities. Brent crude is down 1.6% as of 8.45 a.m in London (3.45 a.m EST) as renewed uncertainty about the substance of potential supply freezes or cuts from Saudi Arabia lingered on markets ahead of OPEC's summit in Vienna on Thursday. 

    SEE ALSO: The bond market just flashed a major 'red flag' — and it could be signaling a US recession

    NOW READ: The 'big squeeze': Ray Dalio, founder of the world's largest hedge fund, breaks down how the next financial meltdown will look different from the last

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    Lime cofounder and executive chairman Brad Bao at IGNITION

    • Lime has big plans when it comes to safety: including AI, sidewalk detection, and tools to lock out drunk riders. 
    • The company has already given away helmets as part of its "respect the ride" campaign. 
    • Still, injuries are flooding emergency rooms and the company has come under fire for not doing more. 

    As injuries from scooter riding flood emergency rooms across the country, operators are coming under fire for not doing more to ensure user safety.

    Lime, which has invested heavily in a "respect the ride" campaign and given out thousands of free helmets, may have some higher tech tricks up its sleeve as well, founder and chairman Brad Bao said Tuesday at Business Insider's IGNITION conference.

    "In addition to the dynamic speed limit," Bao said of a feature already live on Lime's fourth generation scooters in places like school zones, "We're testing out balancing, whether a scooter or bike can be self-balancing. And there are other things like sidewalk detection. It's about increasing safety of pedestrians as well as riders, we're looking into we can detect if a user is riding on a sidewalk and limit that behavior."

    Read more: Lime issues its second scooter recall in less than a month

    Eventually, it could even detect if you're too inebriated to ride.

    "It probably won't be a Breathometer," he said, "but we will probably use more AI and algorithms to detect whether a user's behavior is abnormal."

    Bao compared new innovations in scooter safety to the invention of anti-lock brakes in cars. "I like to use ABS an example," he said. "That did not exist at the invention of the car, and now we don't even notice it." 

    As for the two reports last week that Uber was considering a bid for Lime or its competitor Bird, Bao said he was "very flattered to be part of the speculation" but wants to remain an independent company for the time being.

    Two Uber executives, speaking at the same conference, also declined to comment directly on the reports. 

    "Now that Uber is really, really devoted to being a major player in the micro-mobility space, we're getting approached constantly by players on the global scene, wanting to partner with us, looking for acquisitions," Rachel Holt, Uber's head of new modality, told Business Insider at the Ignition conference Monday. "My guess is that those kind of rumors will continue and we're still really focused on building our own product right now."

    The same remains for Lime, too. "We think the vision we have is fairly unique," Bao said . "This is not the first time [there have been rumors], and this probably is not the last time."

    SEE ALSO: The head investor at a $4 billion early-stage venture capital firm explains why he's all in on cannabis and scooters — and reveals what he's most excited about for 2019

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    rich person

    Turns out, many millionaires have more than huge bank accounts in common: They also don't have a budget.

    That's what John of personal finance blog ESI Money, who retired early at the age of 28 with a $3 million net worth, found after interviewing 100 millionaires over the past few years. Forty-six of the 63 millionaires he asked don't have a budget, which he said surprised him.

    "While it was not expected, the reasons millionaires don't need a budget makes sense — they make a lot and have self-control,"he wrote in a blog post. "In other words, they make a ton, spend only a portion of it, and have plenty left over. Who needs a budget?"

    The median net worth of millionaires John interviewed was $2.3 million. While 90% of them were men, 93% were married, so John said he considers the women millionaires as well. The median age was nearly 50.

    John interviewed one millionaire who spends $90,000 a year. He only buys necessities and only books vacations with a deal.

    "I track our accounts using Mint and Personal Capital, and use cash back credit cards exclusively for every possible expense. But, we have never made a formal budget," the millionaire told John.

    He added: "Every few months I look to see if my cash balance is bigger than it was a year ago. If it has grown, I invest the money. If dropped, I try to hold off on discretionary expenses. Last year according to Mint, we spent $90,000, including $13,000 on home improvement projects."

    Read more: The author of 'The Millionaire Next Door' explains 3 ways anyone can build more wealth

    John wrote that this is similar to his personal experience — he and his wife had a budget early in their marriage to give them more control when tracking spending habits until they "developed our moderately frugal lifestyle to the point where it was second nature" and knew they wouldn't overspend.

    They didn't have a budget for 15 years until approaching retirement.

    "This is the experience most millionaires have," he wrote. "Their incomes have grown, they don't spend a lot relative to those incomes, and so they don't use a budget. Yet many still track spending in one way or another." 

    It makes sense considering another common trait among self-made millionaires. Thomas C. Corley, who studied rich people for five years, found that the majority of them considered themselves frugal. They also keep their expenses low and avoid the "lifestyle creep," or the tendency to spend more whenever they earn more.

    It seems that a budget may be good for becoming a millionaire, not for being one.

    United Income CEO Matt Fellowes previously told Business Insider that making a budget is an effective way to identify and reduce unnecessary spending, and that it will help one retire as a millionaire.

    As John puts it: "A budget is great for the early phases of a financial plan, but if you can grow your income and develop self-discipline not to spend, it's not vital to your success later on."

    SEE ALSO: I asked 100 millionaires how they spend, save, and invest, and they told me exactly what I expected to hear

    DON'T MISS: 11 signs you're going to be wealthy, even if it doesn't feel like it

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    NOW WATCH: 4 lottery winners who lost it all


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