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The latest news from Business Insider

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    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.

    vrai & oro $110

    If there's any time to treat your loved one to a beautiful and long-lasting piece of fine jewelry, it's the holidays. True fine jewelry made with materials like pure or 14-karat gold (not just gold vermeil, which is gold plated over sterling silver) costs a lot precisely because of its material composition and careful craftsmanship, so it's wise to budget accordingly. 

    Don't stress too much, though. You don't have to spend more than $500 for a durable and pretty bracelet, necklace, pair of earrings, or ring this holiday season. She'll want to wear any of the following pieces every day of the new year. 

    These 25 thoughtfully designed pieces of fine jewelry are sure to impress her — and they all cost $500 or less. 

    Looking for more gift ideas? Check out all of Insider Picks' holiday gift guides for 2018 here.

    Mini Gold Letter Charm Pendant

    AUrate Mini Gold Letter Charm Pendant, $300, available at AUrate

    Available in 18k rose, white, and yellow gold 

    You can't go wrong with a subtle personal letter charm necklace. It's wearable at two lengths — collarbone and chest. 



    Duo Ring

    Mejuri Duo Ring, $299, available at Mejuri

    One smooth and one twisted, the complementary rings in this two-in-one piece are forever linked together. 



    Charming Hoops

    Ariel Gordon Charming Hoops, $192.50, available at Ariel Gordon

    These playful hoops, also available in star, heart, smiley face, and rainbow styles, really live up to their name. 



    See the rest of the story at Business Insider

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    elon musk

    • Tesla vehicles will soon be able to drive without any human assistance, CEO Elon Musk said on Sunday via Twitter.
    • "Already testing traffic lights, stop signs & roundabouts in development software. Your Tesla will soon be able to go from your garage at home to parking at work with no driver input at all," he said.
    • Tesla declined a request for comment on when the update Musk described will arrive and whether any restrictions will be placed on where or how it can be used.

     

    Tesla vehicles will soon be able to drive without any human assistance, CEO Elon Musk said on Sunday via Twitter.

    "Already testing traffic lights, stop signs & roundabouts in development software. Your Tesla will soon be able to go from your garage at home to parking at work with no driver input at all," he said.

    The update Musk described aligns with what the autonomous vehicle industry refers to as Level-4 or Level-5 capability, the two most advanced levels of autonomous driving technology. A Level-4 system can drive without human assistance under certain conditions, while a Level-5 system can drive without human assistance under all conditions. Tesla's semi-autonomous driver-assistance feature, Autopilot, is a Level-2 system, which means it can control speed and steering under some circumstances but requires a driver's input and attention.

    Read more: Elon Musk broke one of Tesla's biggest Autopilot rules in a TV interview

    An update similar to the one Musk described would likely require regulatory approval before it could be offered to customers. Musk later said Tesla was waiting for approval from European Union regulators but made no mention of United States regulators.

    Tesla declined a request for comment on when the update Musk described will arrive and whether any restrictions will be placed on where or how it can be used.

    Autopilot can keep a car in its lane, adjust its speed based on surrounding traffic, recommend lane changes, navigate transitions between highways, and take exits, with driver supervision.

    In October, Consumer Reports released its rankings of four semi-autonomous driver-assistance systems. Autopilot ranked second, behind Cadillac's Super Cruise, with the highest rating among the four for capability and performance and ease of use, but the lowest for keeping drivers engaged.

    Tesla has received criticism for how it has promoted Autopilot, and fatal accidents involving the feature have raised questions about whether drivers place too much trust in it and fail to pay attention to the road. Tesla says Autopilot is meant to be used with an attentive driver whose hands are on the wheel, but the most visible accidents involving Autopilot have involved reports of distracted drivers, and on multipleoccasions, Musk has used the feature without keeping his hands on the wheel during television interviews.

    Have a Tesla news tip? Contact this reporter at mmatousek@businessinsider.com.

    SEE ALSO: Tesla is crushing the stock market — even as traders are betting big against it

    Join the conversation about this story »

    NOW WATCH: This Rolls-Royce feature might be the world's fanciest way to tailgate


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    Screen Shot 2018 12 11 at 12.53.01 PM

    • The town of Wilkes-Barre, Pennsylvania, is overrun with potholes.
    • A group of residents felt that town was taking too long to fill one in their neighborhood.
    • So they plugged it with a Christmas tree.
    • 'Tis the season.
    • The town has since covered the hole with a metal slab.

    A group of neighbors in Wilkes-Barre, Pennsylvania, had reached their wit's end.

    As ABC-affiliated WNEP reported, the residents had been dealing with a gaping pothole on their street for a "few weeks," and the city had neglected to repair it.

    Marietta Spak, a resident of the city, told the outlet she came up with the idea when looking for holiday decorations for her house.

    "I was upstairs in the attic and was looking for more Christmas decorations and thought that would look nice in the hole," she said.

    Read more:This guy's wife suggested buying a fake Christmas tree — and his hilarious reaction is going viral

    And the rest is city history. Soon, someone else added a decorative Santa figurine into the mix.

    But, as the saying goes, all good pranks must come to an end.

    Ultimately, the city's Department of Public Works got wind of the stunt and repaired the pothole. Now, a metal slab covers the hole in the ground, as a sort of temporary fix. The city plans to repave the road as early as Tuesday.

    "We have a lot of comedians in the area who put trees in there," DPW employee David Iskra told WNEP. "I think it's funny, too."

    'Tis the season.

    A representative for the Wilkes-Barre DPW didn't immediately return INSIDER's request for comment.

    Visit INSIDER's homepage for more.

    Join the conversation about this story »

    NOW WATCH: All the Easter eggs in Ariana Grande’s video for “Thank U, Next”


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    luxury home house mansion

    • Luxury developers are building expansive and extravagant underground spaces in multimillion-dollar homes. 
    • This is often a way to get around strict zoning laws in Los Angeles meant to limit the construction of large mansions.
    • These lavish lower levels include luxurious spas, sports facilities, "living" plant walls, wine cellars, art galleries, and in one case, even a ballroom.

     

    Developers are taking luxury homes in an unexpected direction: Underground.

    Rochelle Maize, a Los Angeles luxury real estate agent, said she's seeing more and more "extravagant basements" or lower levels being built into homes.

    "While this square footage isn't considered as valuable as above grade, it still allows for a higher selling price and return on investment," Maize told Business Insider.

    But these spaces are nothing like the dingy, unfinished space you might picture when you think of a typical basement. 

    "The other big trend that I am seeing in the basement level build-outs is interesting details that are being installed by landscape architects," Maize said. "They are creating gorgeous 'living-walls' on the concrete wall areas below ground. This is actually making them more inviting than some of the above-ground areas!"

    Some of these lavish subterranean spaces include spas, wine cellars, art galleries, tennis courts, and other sports facilities.

    Read more: Super rich people are paying up to $500,000 for luxe panic rooms, and as gun violence picks up, they're more popular than ever

    In Los Angeles, these spaces are often a way for developers to get around "red tape" that restricts the size of new construction single family homes, known as anti-mansionization laws, Maize said.

    Hacienda de la Paz, a 51,000-square-foot home in Los Angeles county, was built to be mostly underground in order to comply with such zoning requirements, according to the Los Angeles Times. Only one of its floors is above ground, and the other five levels are underground and include a 10,000-square-foot Turkish spa, a 15,000-square-foot tennis court, a ballroom, a yoga room, and a wine cellar.

    Just Sold at $22.4 million - Hacienda de la Paz (1 Buggy Whip Dr.) - Represented buyer and seller.

    A post shared by Jason Oppenheim (@jasonoppenheim) on Oct 31, 2018 at 7:19pm PDT on

    It sold at auction in October for $22.4 million, the Times reported.

    Then there's the most expensive home for sale in San Francisco, an ultra-modern complex listed for $45 million, which has a two-story underground art gallery, as Business Insider's Lina Batarags previously reported.

    These over-the-top basements are not just a West Coast trend. Jeffrey Collé, a custom home builder in the wealthy Hamptons community of New York, told the New York Times about a house he built with a 5,000-square-foot underground space that included a bedroom, a wine cellar, a home theater, a gym, a sauna, and a steam room.

    "You don’t have a feeling like you're underground," Collé told the Times. "These are open, airy spaces."

    The super-wealthy of London have also been building downwards, Business Insider previously reported, sometimes adding up to five levels underground in some of the city's most sought-after neighborhoods.

    SEE ALSO: Here's what the most expensive house for sale in every US state looks like

    DON'T MISS: This $245 million Los Angeles mansion is the most expensive home for sale in the US — and it costs 960 times more than a typical US home

    Join the conversation about this story »

    NOW WATCH: History of the Christmas tree: Evergreens were sacred to ancient Egyptians. Then people started decorating them.


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    Mediterranean diet

    • Most New Year's resolutions fail by the second week of February because they are too vague or unrealistic.
    • People often make resolutions about eating healthier or losing weight.
    • Business Insider recently surveyed more than 1,000 people about their New Year's resolutions for 2019, and some respondents said they would like to try dieting.
    • Take a look at the most popular diets that millennials plan on trying next year.

    Making a New Year's resolution can be a great way to introduce a healthy change to your life, but nearly 80% of resolutions fail by the second week of February. 

    Often, New Year's resolutions are too vague and unrealistic, whether it's eating healthier food, exercising more, or losing weight. 

    Business Insider recently surveyed 1,037 people about their New Year's resolutions. Of the survey sample's millennials — defined in this case as people between the ages of 18 and 29 — 119 said their resolution for 2019 is related to dieting or eating healthier.

    Scientists say that participating in most reasonable diets can help you lose weight. However, some diets can cause serious nutrient deficiencies because they require participants to eliminate entire food groups.

    These are the most popular diets among millennials making resolutions for 2019. Take a look at what the science says about them. 

    The most popular choice was a low-carb diet — 31.1% of millennials expressed interest in it. While this is a popular way to lose weight, a growing body of research suggests low-carb diets could lead to premature death if followed for a long period of time.

    Low-carb diets come in many variations. People who follow the ketogenic diet severely cut carbs and up their fat intake, while people on the Atkins diet eat a lot of meat and eggs before slowly adding carbs back to their diet. 

    Recent research, however, shows that reducing carb intake could be a poor decision in the long run.

    A study earlier this year looked at more than 24,800 adults in the US and found that people who limited their carb intake had a 32% higher risk of dying than those who ate more carbs. The study was presented at the European Society of Cardiology Congress 2018 in August.

    Still, cutting back on carbs does generally help reduce sugar intake.



    Another 23.5% of respondents said they would like to go on a reduced-calorie diet. Recent studies have found that eating fewer calories could help people live longer.

    Studies are increasingly suggesting that people who reduce the amount of food they eat by as much as one-third or half can have more energy and experience less illness.

    A small study of 34 Americans, who reduced what they ate by 15% for a period of two years, found that dieters' bodies aged more slowly compared to those of people who did not change their eating habits.

    While the science surrounding this diet is still evolving, scientists are examining whether lowering calorie intake sometimes — a few days per month — could help people age more slowly.



    The ketogenic diet came in third place, with 19.3% of respondents wanting to try it. The diet is a high-fat, low-carb approach that could be great for losing weight.

    Instead of eating lots of carbs, people on the keto diet fuel up on fats and small amounts of proteins. These dieters reduce their sugar intake, but they also limit the healthier carbs they consume. 

    Recent studies have cast doubts on the benefits of long-term keto diets. In August, for example, a study of more than 447,000 people found that eliminating entire food groups could lead to premature death.

    The keto diet could have negative consequences in the long run because it essentially requires participants to eliminate lots of fruits and vegetables. Eating fewer than 50 grams of carbs a day on the keto diet means having no more than two apples' worth of carbs. 

    In addition, there is some evidence that a low-carb diet like keto could lead people to become less tolerant of glucose and develop diabetes, though there is little research on this connection.

    Nevertheless, some benefits of the keto diet are clear. The method can help people lose weight and control their blood-sugar. It can also benefit children who have epileptic seizures. 



    See the rest of the story at Business Insider

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    Andrew Gillum

    • Andrew Gillum, Florida's unsuccessful Democratic candidate for governor and a rising star in the party, delivered remarks at a Democratic National Committee retreat in Washington on Tuesday.
    • This appears to cast doubt on speculation that Gillum will launch a 2020 presidential bid. 
    • A DNC Finance Committee member told INSIDER that the DNC likely would not have invited Gillum to be its surprise keynote speaker if he was considering a presidential run. 

    Andrew Gillum, Florida's unsuccessful Democratic candidate for governor and a rising star in the party, delivered remarks at a donor-filled Democratic National Committee retreat in Washington on Tuesday.

    Some of the party's other rising stars — including incoming Congresswomen Ayanna Pressley of Massachusetts and Lucy McBath of Georgia and Sen.-elect Jacky Rosen of Nevada — will also speak at the private National Finance Committee event at the Mandarin Oriental hotel, a DNC Finance Committee member who requested anonymity in order to speak candidly, told INSIDER. 

    This comes amid speculation that Gillum will launch a 2020 presidential bid after the 39-year-old Floridian reportedly met with President Barack Obama at his Washington offices last week. But some individuals with knowledge of the DNC's practices say the Committee wouldn't invite a speaker who is considering a presidential run, in order to avoid accusations of bias. 

    "My understanding is that they were not allowing potential 2020 contenders to speak, given the fact the DNC needs to remain neutral this cycle," the Finance Committee member said.

    Gillum declined last week to elaborate on his thoughts about a presidential run.

    "I plan on being married to my wife. That is all I am planning," Gillum said in response to questions about a 2020 run during an event at the Leadership Conference on Civil and Human Rights in Washington last week. "What I am committed to doing between now and 2020 is doing everything I can to make the state of Florida available and winnable for the democratic nominee for president."

    Obama has also reportedly met with other potential 2020 candidates, including Sens. Elizabeth Warren of Massachusetts and Bernie Sanders of Vermont, former New Orleans mayor Mitch Landrieu, and Texas Rep. Beto O'Rourke.

    Florida's first African-American nominee for governor, Gillum stunned the nation when he won a competitive primary, after being far outspent by his multi-millionaire opponents, and attracted national attention as he waged an aggressive and deeply progressive campaign for governor against the Trump-endorsed Rep. Ron DeSantis.

    His campaign highlighted his working-class roots as the son of a bus driver and a construction worker, and focused on his promises to invest heavily in the state's public schools and fight for stricter gun regulations and Medicare-for-all. 

    Gillum ultimately conceded to DeSantis 11 days after Election Day following a statewide machine recount. 

    President Donald Trump, who at one point called Gillum a "thief," also noted the mayor's strength as a candidate. 

    "He will be a strong Democrat warrior long into the future — a force to reckon with!" Trump wrote

    SEE ALSO: Democratic stars Beto O'Rourke and Andrew Gillum both recently met with Obama, stoking speculation about 2020 bids

    Join the conversation about this story »

    NOW WATCH: Anthony Scaramucci claims Trump isn't a nationalist: 'He likes saying that because it irks these intellectual elitists'


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    don draper 2

    • Around the world, many envy-inducing tiny homes were built in 2018.
    • The list of this year's best includes a cabin on a mountainous ledge in New Hampshire, an island of tiny homes in Norway, and a 3D printed home in Austin, Texas.
    • Each project is uniquely designed, though many feature similar elements such as hidden bedrooms and retractable decks.

    As housing becomes more expensive in cities, the trend of tiny living continues to pick up steam. 

    In 2018, tiny homes caught the eye of major corporations, acclaimed designers, car manufacturers, and 3D-printing companies, which each put their unique stamp on the concept. 

    The results were some of the most envy-inducing miniature structures ever built.

    Whereas the typical tiny home is cluttered and claustrophobic, a few clever designers and architects have managed to make their units feel luxurious and spacious.

    Some tower over the ocean, some sit atop mountains, and others are designed to sit in your backyard.

    Here are 8 structures that represent the best tiny homes constructed or critically recognized in 2018.

    An island of tiny homes sits on the coast of Northern Norway.

    The island of tiny structures is intended as a retreat for artists and musicians, though the homes have attracted members of the general public as well.

    There are four bedroom cabins, while the rest of the buildings house a bathhouse, kitchen,  living room, seaside sauna, and mini cathedral for meditation.

    You can rent the entire island for just $3,500 a week.

    The concept recently won one of Architizer's 2018 A+Awards, which celebrates the world's best design projects.

    Read more:An island of tiny homes in Norway is available to rent for $3,500 a week. People call it a 'slice of heaven.'

     



    This house runs on Dunkin' — literally (well, almost).

    Dunkin' Donuts isn't the first company to dabble in tiny home construction, but it's the first to build a tiny home that runs almost entirely on coffee.

    With help from the manufacturing company Blue Marble Biomaterials, Dunkin' converted 65,000 pounds of spent coffee grounds into enough fuel to power the entire structure.

    Though the home is only 275 square feet, it has enough room for a full kitchen, bathroom, and king-sized bed. It even has a "coffee nook" for sipping your morning cup. 

    Read more:Dunkin' Donuts built a tiny home that's powered by coffee — and it cost just $10 a night to stay there

     



    Yves Béhar's prefabricated units could be a solution to the housing affordability crisis in Los Angeles and San Francisco.

    As a designer at the forefront of innovation, it seemed natural for Yves Béhar to make the foray into tiny home construction. The new line of prefabricated units from the Swiss industrial designer and entrepreneur are customizable and range in size from 250 to 1,200 square feet.

    Béhar has touted the concept as a possible solution to the housing affordability crisis in Los Angeles and San Francisco, where a lack of housing stock has contributed to rising homelessness

    Though Béhar's current units cost around $280,000, he plans to design a more affordable line.

    Read more:Silicon Valley's favorite designer created a line of tiny homes that cost just $280,000. Take a look inside.

     



    See the rest of the story at Business Insider

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    john mulaney jimmy fallon

    • During an appearance on the "Tonight Show" Monday night, comedian John Mulaney spoke about taking "SNL" cast member Pete Davidson to a Steely Dan concert.
    • Mulaney says he's been going to Steely Dan concerts for 12 years, but no one has ever stood for the show.
    • That changed this year when Davidson stood up and got everyone around him to follow suit.
    • Mulaney invited Davidson to the show shortly after the younger comedian's break-up with Ariana Grande.

    Comedian John Mulaney shared the hilarious story behind one of his recent Instagram posts, which showed "SNL" cast member Pete Davidson getting everyone to stand up at a Steely Dan concert.

    Mulaney posted video of the moment Davidson brought the crowd at the Beacon Theatre in New York City to their feet back in October, soon after Davidson had broken up with Ariana Grande.

    I’ve seen Steely Dan for 12 years and no one ever stands. Pete Davidson changed that.

    A post shared by John Mulaney (@johnmulaney) on Oct 30, 2018 at 7:58pm PDT on

    During an appearance on the "Tonight Show" Monday night, 36-year-old Mulaney gave more comical details of their night out.

    Mulaney says he's been going to Steely Dan concerts with his best friend, Kevin, for 12 years, and this year he invited 25-year-old Davidson to come along. Mulaney says Davidson agreed to go without asking any questions.

    At the last minute, Mulaney's wife, Anna, decided to tag along as well, even though she hates the band, because she wanted to get out of the house.

    They met a confused Davidson at the theatre, who assumed Steely Dan was a comedian.

    pete davidson john mulaney

    "So I said, 'Pete, you don't know anything about them?' And he said, 'No.' And I said, 'Do you know anything about pop jazz fusion?' And he said, 'No.' And I said, 'Pete, there is no way I can prepare you for what's about to happen,'" Mulaney recalled.

    He says his wife then took Pete by the shoulders and said, "Pete, this is gonna be awful."

    Mulaney went on to explain that the audience for Steely Dan shows "is not young" and that people tend to stay in their seats and listen to the music rather than stand.

    'This has been the protocol for decades at the Beacon," he said.

    Read more: Ariana Grande says she's 'thankful' for Pete Davidson in a new song about her exes — here's a complete timeline of their relationship

    During a song called "Josie," Mulaney says one woman stood up and got shouted at to "Sit down! Sit down!"

    It wasn't long before Davidson cracked.

    pete davidson ariana grande

    As Mulvaney told it: "And then Pete Davidson says, 'I can't take this.' And he turns to the row behind him. He goes, 'If I stand, will you stand?' And they go, 'We'll stand.' And then Pete goes, 'All right.' So he stands, so the row behind us stands, so the row behind them stands. Then he goes, 'Come on!' And then by the time they were playing 'My Old School,' the entire Beacon is on its feet."

    Even Mulaney's wife started dancing.

    "So two guys who love Steely Dan, a guy that didn't know what Steely Dan was, and a woman who hates Steely Dan got the Beacon on their feet," Mulaney said. "It was a Christmas miracle."

    Watch the full clip below:

    Join the conversation about this story »

    NOW WATCH: The true story behind the name 'Black Friday' is much darker than you may have thought


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    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.

    knock knock $13

    From laptops and fresh groceries to a pair of socks— or even a literal car— it seems like you can find pretty much anything on Amazon. The sheer breadth of products is one of the many benefits of shopping with the e-commerce giant, but it can also become one of the frustrations. With so many options to choose from, you can end up spending far too much time scanning the site for what you want, or in a shopping black hole for something you definitely didn't need in the first place. 

    In a sea of choices that nearly everyone has access to, you might not think of Amazon as a spot to find truly unique gifts. But if you're willing to do some digging (that's what we're here for), you can find some pretty cool things. Amazon handmade offers locally made and artisan products from small businesses around the country and Amazon has even curated gift lists and ideas catered to different hobbies, styles, and more. 

    If you want to get straight to the point, keep scrolling. We skimmed through the site and found lots of unique products that will make great gifts this season. 

    Looking for more gift ideas? Check out all of Insider Picks' holiday gift guides for 2018 here.

    A fruit bowl that adds some design flair to their kitchen

    Alessi “Mediterraneo” Fruit Bowl, $99.99

    This steel fruit bowl is far from ordinary. The spindly, plant-like stems curve upward to hold food, but also add a very interesting aesthetic to any countertop. 

     



    A trio of handmade spicy sauces

    Bushwick Kitchen Threes Knees Spicy Trio, $39.99

    If they can't bear the thought of a meal without hot sauce, upgrade their spicy condiments with this set from Bushwick Kitchen. With a spicy honey, spicy maple syrup, and a gochujang-sriracha blend, they'll have lots of new spicy flavors to test and love. 



    Buildable magnets that will keep adults entertained

    Speks Magnetic Toy, $27.95

    The fidget spinner had it's moment, and now it's Speks' turn. This set of over 500 magnets can be mashed, rolled, and molded into different shapes. It's a productivity toy that even adults will love to play with.



    See the rest of the story at Business Insider

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    Bom Suk Kim Coupang CEO

    • Bom Kim is the CEO and founder of Coupang, the largest online seller in South Korea.
    • Coupang has been called "the Amazon of South Korea" for its dominant position in the country, but Coupang employs a different model from its US counterpart.
    • The company has invested heavily in delivery and logistics to control a complete shopping experience  for customers.
    • In an interview with Business Insider, Kim explains how Coupang got to the top via multiple pivots and an IPO that was canceled at the last minute. 

    Coupang was founded in 2010. But you'd be hard-pressed to find a company that has changed more in eight years than it has.

    CEO and founder Bom Kim took the company from an online marketplace to a direct seller to an integrated online-shopping destination and delivery system. He calls it an "end-to-end" solution — meaning that from order processing to delivery, the company is in complete control of how customers experience the company.

    It's that latest iteration that has taken Kim and his company to the top of the South Korean e-commerce market in terms of sales. The company is now approaching $5 billion in annual revenue and is projecting 70% growth by the end of this year, though it did post a loss of almost $600 million in 2017, according to Bloomberg.

    In an interview with Business Insider, Kim explains how Coupang got there via multiple pivots and an IPO that was canceled at the last minute. 

    The following interview has been edited for length and clarity.

    A pivot that paid off

    Business Insider: Start from the beginning.

    Bom Kim: Well, the company's gone through different iterations. The most recent version of the company, I think, is about three and a half years old. If I take you back a little bit, one thing that's been consistent about the company since day one is our mission. And I know this will sound corny, in some ways, but it really is part of our DNA. We really are serious about it. And it's not quite evident when you hear it for the first time.

    Our mission is to create a world where customers ask, "How did I ever live without Coupang?" And what I mean by that is, we don't believe that a company should exist or that a company should be created to strive for a five or 10% better customer experience. It's just a waste of our passion, our time, talents. Our vision, our goal, what we aspire to, is to create a customer experience that's a hundred times better. And when you create something a hundred times better, people point to it and say, "I can't imagine life without that."

    And about four years ago, we were a pure marketplace. So we were essentially a platform that connected customers with sellers.

    BI: Like an Ebay?

    Kim: Like an Ebay, that's right. Which is pretty much everyone in the market. And we were over a billion dollars in transactions, profitable, growing very, very fast, actually deep in the process of going public.

    But I had this moment of clarity where [I asked myself], "Is this really living up to that mission?" And I would actually do the orientation in those days to all the new hires. ... The DNA, the company was so wrapped around this mission, and I couldn't reconcile it. Because we were, essentially, not there. Not even close. We're still a long ways away.

    So, we took a bold step to basically stop the IPO process, and to go and invest heavily, go from a profitable company to a company that started to invest heavily into integrating everything from the customers' experience, starting from the mobile phone, all the way to the customers' door. So we built, now, in just over three and a half years, 150 soccer fields' worth of fulfillment centers across the country.

    Read more:How 'the Amazon of South Korea' pivoted to dominate the country's online-shopping scene in just 4 years

    But it's not just fulfillment centers, which is probably the model you're more accustomed to in this market. We had to build the last-mile logistics as well. Because there weren't big, structured, sophisticated players like UPS in the market. And we couldn't. And the market is very dense. The landscape is very different. One apartment complex next to our office has, in one New York City block, 19,000 residents. So it's an incredibly different challenge.

    And we decided that we wanted to deliver all of our packages, within one day, to the door. So not dropped off at the bottom of your building, but to the door. And we set out to integrate everything with technology, so that even at the last inch, meeting the customer, our delivery people would have CRM tools.

    So for example, if you have a baby, and you don't want the doorbell to be rung, our delivery personnel would know that and would knock on the door. Or if you prefer your packages to be left behind a potted plant, we'll know exactly where you like it, and if you happen to meet a delivery person, they'll know if this is your first purchase, and they'll say, "Welcome to Coupang." Or if it's the first purchase in a while, they'll say, "Welcome back."

    And it goes beyond that. So now, we've launched dawn delivery, and same-day delivery. So typically, when you think about kind of five or 10% better experiences, they don't fundamentally break inherent trade-offs. So one trade-off that I think customers have come to expect in e-commerce is between speed and selection. So you can have vast selection, but slow delivery. Or if you want delivery within hours, you can get it, but it's very limited selection.

    Coupang

    So typical delivery-within-hours services that you've seen, probably, are in the tens of thousands of items, for example. What we're now offering is our dawn delivery service. You can order until midnight, and [have it] delivered to the customer's door before 7 a.m. So within hours. But not just for a few tens of thousands of items, but for millions of items, which [is] thirty times that of the largest Walmart. And it covers everything from apparel, to electronics, to even fresh and frozen foods.

    Because we're fully integrated, if you think about doing a typical return or exchange, you have to print out a label, you have to put it in a box, tape it up. Well, we're integrated end to end. So let's say you order something, some shoes that are too big or too small, and you want to exchange them. You don't have to print out any label, you go on the app, you request it, and if you do it in the morning, within that day, we'll come and exchange it for you. You just leave it outside your door. And it's almost like open sesame, close sesame. It's already exchanged.

    BI: How are you able to get millions of items so close to customers? Is it South Korea's dense geography?

    Kim: Part of it is geography because it's an incredibly dense market. And a lot of Asian cities are developing this way. It's not the suburban sprawl that you see in maybe some cities in the US. The cities are very vertical, very dense. But it's also because we've built the end-to-end integration. So we actually have, for example, all kinds of delivery personnel. We actually have delivery personnel that pick up and deliver only by foot, for example.

    BI: Sounds like a lot of people.

    Kim: It's a lot of people, yeah. I mean, e-commerce is a big employer, even with a lot of automation and a lot of technology. Really, whether it's determining, whether it's inventory management, supply-chain management, or figuring out the routes, figuring out the most efficient way to pick and pack the fulfillment centers, all the way to the routing of the trucks. Everything is actually driven by technology, but it still involves a lot of people. It's physical goods.

    BI: But it's all end to end. So are there any interesting efficiencies there?

    Kim:Now, over half of our packages are boxless. Also, this is another example of how ... you solve some of these interesting inefficiencies, and actually end up helping customer experience. So one of the biggest complaints about ordering a lot of e-commerce is that you get boxes and boxes piling up in your house, and it's especially a big issue in apartments in cities where you don't have a lot of space, like Manhattan.

    Typically, why do you need boxes? Because you need to protect the item. You give it to UPS, and they're gonna put it through their sortation, and the items have to be protected, or they'll be damaged before they get to the customer. Well, if you're end to end integrated, we [can] actually deliver, even detergent, which some people call "liquid bombs." There's not even bubble wrap on it. It's in a clear plastic bag. Once it leaves our fulfillment center, it never goes horizontal. It always stays vertical, all the way to the door.

    It also saves a lot of space in the trucks, because about a third of the space in a truck is air. And also, you save material cost, so you actually end up using a lot less material for packaging.

    Millions and millions of customers

    So we have millions of customers who are purchasing over 50 times a year. So if you think about that, it's practically every week.

    We believe that the first focus was to create habituation, and to create an ease in a customer's life, a convenience in the customers' lives that they could experience over and over again. And then, they expanded their purchasing behavior to include electronics and apparel, and now, even fresh and frozen foods.

    We're able to, because of technology, because of our economy's scale, we're able to drive a lot more efficiencies out of it than the traditional separate e-commerce and separate third-party logistics.

    BI: Was there an epiphany moment where you came to the realization that this could be Coupang's future instead of what you had been doing?

    Kim: When we were a pure, unstructured marketplace, the rationalization we had internally was that we were creating a better customer experience by investing in customer service. So if you had a problem, even though the experience was still controlled by third parties ... we took care of you. At some point, somebody mentioned to me, "That's like being better at apologizing as a spouse, but being no better a spouse."

    Coupang

    Because we weren't, fundamentally, making the experience better. We were just really good at following up with you, and taking care of you when things went bad. And we noticed that over half the calls, customer complaints, consistently, were all related to delivery. It was either the wrong item was there, or it was mispackaged, or it was delivered late, and we realized it was because there was a lack of technology integration to the supply chain, and that we had an opportunity. It was going to be a long-term plan. But if we built the right foundation, if we invested in the technology, and the infrastructure, in the long run it could produce a better customer experience, a much, much better customer experience at a lower cost.

    BI: It sounds like customers are really liking what you're providing.

    Kim:We're not where we want to be yet, but we're getting closer every day. We have a payments platform, also, that's a true one-touch mobile payment platform. One thing that people might not know about us is that 90% of our transactions happen on mobile.

    When transactions happen on mobile, they happen at night. That's one thing we've noticed, is that the PC usage time is during the day. Because if you think about it, that's when people are at the computer.

    But mobile adapts more to the natural lifestyle of the customer. Because now the customer can buy or browse whenever she wants, whether it's in the morning, day, your mobile phone is with you, your smart phone is with you throughout the day. And what ends up happening is customers are browsing multiple times, but a fair amount of purchasing late. So one-third of our orders are happening between 10 p.m. and midnight. The last two hours.

    And at night, if you're just kind of a pure marketplace, you rely on tens or hundreds of thousands of sellers. These sellers are not operating 24/7. They don't have fulfillment centers that are operating or automated and running 24 hours a day, so the beginning of the customers' expectations start with a purchase in the middle of the night. And that's why we focused on dawn delivery so much, because we realized so much of our purchases were happening when customers are now leaning back in bed and ordering before, and organizing, and kind of assessing what they needed, and making a final decision before they went to bed.

    And we realized that a typical pure marketplace experience, the sellers would get that order in the morning. By the time the sellers get that order, we're already in front of your door. And when you really bend towards what the customers want, and you look to create that hundred-times better experience for customers, you're starting with the customers.

    Moving fast and creating things

    BI: Is it just trying to more seamlessly integrate into people's lives, where it's fitting in with what people are already doing, or with what people would naturally do?

    Kim:Yeah. Just solve those friction points. Don't make customers have to adapt to your hours, to your constraints. Really, work from where the customer's natural behavior and natural habits lie, and tailor your experience so that they feel the service is seamlessly integrated with their lives.

    coupang

    One of the things that I think has been a hallmark of our company is just the agility. So it's only been just over three and a half years since we made these massive investments. And we're now operating billions of dollars in revenue, and we've actually delivered over a billion items to the customer.

    We launched a cold chain supply to more than half of the country in less than 30 days. And actually, our most recent offline food-ordering app, we launched that from conception to launch in three weeks.

    BI: How?

    Kim:It's, in part, because of our culture. But it's also in part because of the foundation of technology that we've invested in. I mean, once you've built the technology and the physical infrastructure, you're building applications on top of it. And I think that we're reaping the fruits of many years of investment as well.

    And in part, also, just our fast-moving DNA.

    BI:I think that puts a lot of companies that think they move fast to shame.

    Kim:Asia is moving very, very fast. And I think the cycles of iterations are moving so fast.

    Delivering 'one out of every two diapers'

    BI:So who are these customers? Who orders from you most often?

    Kim:It's everyone. It's really everyone. There are different customers. We did start with consumables, so some of our early customers were moms. Actually, one out of every two diapers, online or offline, has actually been delivered by our service.

    But it's not just moms. I mean, we're the largest, we're actually the largest retailer, online or offline, in many, many categories. And because it's not just moms who want fast delivery, it's not just moms who are ordering at night, who have busy days. You know, you finish the day, you come back from work or school, and you're in bed and collecting your thoughts, and figuring out what you need to get.

    The modern consumer is busy, has a smart phone, has the ability to browse throughout the day, order any time of day, including late at night, and also, has really wide tastes. It's not going to be fulfilled by limited offline selection. So the largest offline retailer selection that you can find offline is a hyper mart, like a Walmart, that tends to be in the 100,000-to-150,000-item range. Online, of course, has the opportunity to provide you a vast selection.

    People talk about machine learning a lot. And we've tested it in a lot of different areas. One area that really, really has increased customer satisfaction, our conversion, exponentially is applying it in recommendation.

    So for example, typically, the rule-based algorithms for recommendations is, people who viewed this, viewed that. People who purchased this, purchased that. And that's a very simple, rule-based algorithm. But what if you're dealing with new selection? Or selection in certain areas like fashion, which is constantly changing every season? An item that hasn't been viewed at all? How does that make it into the algorithm?

    Coupang

    So we actually applied, fed the data into machine learning. And we found that, and the machines found patterns in the data, that we didn't even see, and started recommending items that had never been viewed in combination with that item, recommending items that had never been purchased.

    A huge percentage of our sales is now increasingly in apparel. So that's actually a whole other world where you're not talking about looking up your computer model. It's really helping customers discover things.

    And I think now we're getting to the stage where we're providing more than just structured data. We're actually helping customers understand their desires, which is another level of value that is an exciting area that we're also investing a lot in the technology behind.

    BI: The big e-commerce giants are not in South Korea, right? I'm talking about Amazon, obviously. First of all, why didn't they see this opportunity that you saw in South Korea?

    Kim:I don't know. I can't speak for them. I don't know if they saw it or didn't see it. I do know that the Korean market has not been, historically, a friendly market for multinational giants. Google has a 4% share in the search market, so it's a place where even Google couldn't conquer. Walmart came, and failed, and lost, and eventually ended up leaving the country. McDonald's is not the largest fast-food chain in that market. All of these players lost to local players.

    Fundamentally, people are the same everywhere. The laws of human nature are the same. But there are different constraints. This is a market where people live in very dense neighborhoods. Walmart built big, huge, suburban stores in this market and followed their model. And that just doesn't work. Even suburban Korea is basically a confederation of satellite cities. And it's just too difficult. So basically, this is a market that has different constraints, that international giants have misunderstood and found difficult to penetrate. And it's historically been a market where the local players have succeeded.

    BI: So you've had some significant investments, especially in the last years. Billions of dollars. I find it hard to believe that all of these investors would be happy if you just stayed in Korea, right?

    Kim: Well, it's the fifth largest e-commerce market in the world. And it's on pace to become the third largest e-commerce market in the world in just three years.

    It's a huge market. And it's growing very, very fast. So I think the home market for us is still very much the focus. Now, the constraints that we are solving for, high penetration of smart phones, people living in vertical, dense cities. These are similar challenges that you would find in other emerging Asian economies as well.

    So I think there are possibilities of the platforms that we're building translating in other markets, but our focus, right now, is very much in our home market.

    BI: The most recent $2 billion investment [from SoftBank's Vision Fund] — what, directly, will that go into?

    Kim: We're now in this position to take a step back and leverage some of the investments that we've made to go deeper, to scale some of the investments that we have made, and also, now, to make additional investments in other areas, to touch other corners of the customers' lives. 

    BI: This might be a question that you don't want to answer, but, you say you try a lot of new things. What are some things that you tried that didn't work out?

    Kim:The best thing to make sure that you don't become risk-averse is to have a short memory.

    We didn't always start with our last mile. We thought that building the fulfillment centers, which is a huge investment, would be enough to partner with existing last-mile logistics players.

    BI:Which would kind of be like the Amazon model?

    Kim:That's right. And it just did not end up working out in the market. The infrastructure was too weak in terms of that last-mile infrastructure, the vast majority of drivers were independent contractors working for these companies. The technology integration was very weak. So we couldn't get that level of consistency. 

    BI: So you canceled one IPO. Now you are a different company. Any plans in the future? Or are you mostly focusing on investment right now?

    Kim: At some point, an IPO is in our future. I don't think there's any specific time table I can share right now. We're really excited that we can invest in a number of areas today. Because the opportunity is so vast, we're just scratching the surface here.

    BI: Do you want to become profitable before you plan for a public offering?

    Kim:Right now, we're just so focused on building a foundation for the long term. We're very fortunate to have investors who share our long-term vision, and I think the market — and the opportunity for customers' lives to be changed — is so huge right now. I know it feels like we are, but it's just so early in that evolution, that our investors [think], and we are aligned, that this is the time for investment.

    BI: The growth is exponential. How hard is that to control?

    Kim: The challenge is: can you continue to provide more and more services that customers love, while making sure that your existing experiences are scaling and are maintaining that level of consistency? Customers' expectations only go up. They only go up.

    SEE ALSO: Alibaba and Amazon want to take over every part of your life — and it could be setting up a battle over the future of retail

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    WASHINGTON, DC - MARCH 29: (L-R) U.S. Rep. Ted Lieu (D-CA), Rep. Jamie Raskin (D-MD) and Rep. Pramila Jayapal (D-WA) participate in a markup hearing before the House Judiciary Committee March 29, 2017 on Capitol Hill in Washington, DC. The committee held a markup hearing on H.Res.184, Resolution of inquiry requesting the President and directing the Attorney General to transmit, respectively, certain documents to the House of Representatives relating to communications with the government of Russia; and H.Res.203, Resolution of inquiry requesting the President, and directing the Attorney General, to transmit, respectively, certain documents to the House of Representatives relating to certain communications by the President of the United States. (Photo by Alex Wong/Getty Images)

    • California Rep. Ted Lieu went after a Republican colleague with a history with racist remarks during a hearing with the CEO of Google.
    • Rep. Steve King of Iowa has repeatedly gotten in hot water over racially insensitive comments, but recently won reelection.

    WASHINGTON — A Democratic congressman went after a Republican colleague on Tuesday during a hearing with the CEO of Google, citing negative search results about a congressman who repeatedly has been accused of making racially insensitive remarks.

    During a House Judiciary hearing in which Google CEO Sundar Pichai testified, California Rep. Ted Lieu singled out Iowa Republican Rep. Steve King, who saw many high-profile donors retreat from supporting him in the wake of increased scrutiny over his remarks and actions.

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

    Lieu read headlines from a Google search about the House Majority Whip, Louisiana Rep. Steve Scalise. Noting that the articles about Scalise were all positive and include citations from conservative media outlets, Lieu asked Pichai whether individuals at Google were manipulating those results to favor Scalise.

    "You don't have a group of people at Google, sitting there thinking, 'Hey, we like Steve Scalise, we're going to generate positive articles on these search results," he said. "That's not what's happening, right?"

    Pichai answer no, and added, "We don't deal with individual queries and with any viewpoint."

    But then Lieu pivoted — pulling out his smartphone for a search in real-time — and entered King's name into Google.

    King, who was sitting across the room on the powerful House panel, became visibly perturbed.

    "I'm going to change one word. So I'm going to search for 'Congressman Steve King,' I'm going to hit the 'news' tab. First article that pops up is from ABC News," Lieu said. "It says Steve King's racist immigration talk prompts calls for congressional censure. That's a negative article. But you don't have a group of people at Google thinking and trying to modify search results — every time Steve King comes up, a negative article appears, that's not what's happening, right?"

    Pichai again said no, reiterating that Google does not manipulate results for individuals like that.

    "So let me just conclude here by stating the obvious," Lieu responded. "If you want positive search results, do positive things. If you don't want negative search results, don't do negative things."

    "And to some of my colleagues across the aisle, if you're getting bad press articles and bad search results, don't blame Google or Facebook or Twitter, consider blaming yourself," he added.

    Get the latest Google stock price here.

    SEE ALSO: LIVE: Google CEO Sundar Pichai publicly testifies before Congress for the first time

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    elon musk

    • Tesla's board of directors may not have a chairman in three years, CEO Elon Musk suggested on Tuesday via Twitter.
    • "'Chairman' is an honorific, not executive role, which means it’s not needed to run Tesla. Will retire that title at Tesla in 3 years," Musk said.
    • Tesla did not immediately respond to a request for comment.

     

    Tesla's board of directors may not have a chairman in three years, CEO Elon Musk suggested on Tuesday via Twitter.

    "'Chairman' is an honorific, not executive role, which means it’s not needed to run Tesla. Will retire that title at Tesla in 3 years," Musk said.

    Tesla did not immediately respond to a request for comment.

    Read more: 10 things you need to know about the woman replacing Elon Musk as the chair of Tesla

    Musk was the chairman of Tesla's board of directors from 2004 until this year, when a series of tweets in August about potentially taking the automaker private led to a lawsuit and settlement with the Securities and Exchange Commission (SEC) that required Musk to step down as Tesla's board chairman for three years and pay a $20 million fine.

    Musk said in August that he had "funding secured" to convert Tesla into a private company at $420 per share and only needed a shareholder vote to confirm a go-private deal. But in its lawsuit, the SEC alleged that Musk had not acquired the necessary funding or even discussed the terms he mentioned with any potential backers.

    Tesla named Robyn Denholm, the former CFO at the Australian telecommunications company Telestra, as its new board chairman in November. Denholm joined Tesla's board of directors in 2014.

    During an interview with "60 Minutes" that aired in December, Musk said he did not believe he will want to return to being Tesla's board chairman once he is allowed to do so.

    "No ... I actually just prefer to have no titles at all," Musk said.

    SEE ALSO: Elon Musk says Tesla 'might have a prototype' pickup truck next year

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    investing mistake

    • Investing can be a tricky business — one mistake can cost you financially in the long run.
    • Even the most intelligent investors make mistakes when investing, and some mistakes are more common than others.
    • According to the experts, investors shouldn't base their decisions on emotions, the timing of the market, daily trends, or a non-diversified portfolio.

    In the world of investing, there are no sure bets.

    With risks everywhere, investing can be a tricky business — if you're not careful enough, it's easy to make mistakes that can cost you financially down the road. 

    But mistakes are also a learning experience. We rounded up some of this biggest errors people make when it comes to investing, according to the experts, so that you don't have to learn the hard way.

    Even the most intelligent investors are guilty of some of these mistakes.

    1. Making decisions with your emotions

    Investing can get emotional— money can cloud choices with "fear, greed, and nervousness," tempting investors to move their investments around, certified financial planner Shelly-Ann Eweka previously wrote for Business Insider.

    One of the best things you can do for your investments, she wrote, is leave them alone and focus on a long-term investment plan. 

    "Avoid impulsively selling an underperforming investment and stay the course with a diversified portfolio that is able to withstand inevitable short-term rises and dips in the market,"Eweka wrote.

    2. Dipping into the market sporadically

    Lumpy investing is when an investor invests inconsistently — and doing so can be a mistake, according to Chris Hyzy, chief investment officer at Bank of America Global Wealth and Investment Management.

    "You get a small bonus check or something like that in the early part of the year, you immediately put it to work, and you stop," Hyzy previously told Business Insider. "You're not a consistent investor over the course of months and quarters and years, et cetera."

    Read more: I've saved enough at age 28 that I'll be a multimillionaire by retirement, and I used Warren Buffett's favorite investing strategy to do it

    Investing inconsistently can prevent one from taking advantage of dollar-cost averaging, in which one invests a fixed amount of money in the market on a regular schedule to reduce risks.

    3. Using cash

    Millennials in particular are guilty of this investing mistake. Business Insider's Akin Oyedele previously reported that millennials prefer to use cash investments to set aside money they don't plan to touch for at least a decade, according to a Bankrate.com report

    However, this is one of the worst ways to earn returns.

    "For investment horizons of longer than 10 years, the stock market is an entirely appropriate investment," Greg McBride, chief financial analyst for Bankrate.com, previously told Business Insider. "Cash is not, and especially if you're not seeking out the most competitive returns."

    4. Not knowing how taxes affect your returns

    Some investors don't realize taxes can affect your investments, before and during retirement.

    "If you are working and have many years until you need to access your money, your taxes and strategy are a lot different than when you are retired and pay taxes as you withdraw money from the returns generated within a workplace retirement plan such as a 403(b) or 401(k)," wrote Eweka.

    She recommends consulting with a financial advisor or accountant to create a retirement income plan with taxes in mind.

    Read more: An early retiree who interviewed 100 millionaires found many of them built their fortunes using a simple investment strategy championed by Warren Buffett

    5. Waiting for the "all-clear sign" to time the market

    Hyzy describes the "all-clear sign" as the moment you're finally comfortable financially — but there's an inherent problem in that thinking. 

    "You're technically never at your highest level of comfort and usually, when you are, it's when things are overvalued," he said.

    Hyzy said that even a well-intentioned efforts to enter the market at a "good" time can not work out, despite having expert insight and training, if your timing doesn't align with the market's timing. "So, don't time the market," he said.

    Timing the market is also known as selling high and buying low.

    "It has been shown time and again that trying to outsmart the collective wisdom of the millions of smart, well-informed people who trade in the market is very hard to do consistently, no matter who you are," Derek C. Hamilton, certified financial planner at Elser Financial Planning in Indianapolis, told US News & World report. "Disciplined rebalancing keeps you away from that market-timing trap."

    Financial advisor Eric Roberge said it's not about timing the market, it's about time in the market — the longer your money is in the market, the more long-term growth it will have.

    6. Disembarking from your long-term plan

    Letting daily trends influence your portfolio moves can end up putting your returns in a worse place. According to Eweka, many studies found that investors who hold a Standard & Poor's 500 Index Fund have better returns than those who buy and sell stocks themselves.

    "It is important to develop a long-term investment plan and stay the course in order to reach your financial goals," she wrote. "This plan should be designed to provide a clear roadmap for achieving a range of needs and goals, from paying monthly rent or mortgage and saving for college, to investing for retirement, during both up and down markets."

    7. Not diversifying your portfolio

    There's more to diversifying your portfolio than owning several stocks — it helps decrease risk if you spread investments "across different asset classes,"wrote Kira Brech for US News & World Report.

    "Many investors think of diversification as simply owning more stocks, but do not realize you must also consider asset allocation as well as how your investments move in relation to one another, which is known as correlation," Michelle Jones, vice president at Bryn Mawr Trust in Bryn Mawr, Pennsylvania, told Brech.

    SEE ALSO: I'm a financial planner, and I repeatedly watch smart people make the same investing mistake

    DON'T MISS: 10 basic rules to follow if you want to invest your money in stocks

    Join the conversation about this story »

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    nancy pelosi chuck schumer donald trump meeting

    • Democratic leaders Nancy Pelosi and Chuck Schumer clashed with President Donald Trump in a remarkable on-camera debate and confronted him about false claims over the border wall.
    • Trump has repeatedly claimed that much of his wall has been built, even though none of it has.
    • So far, only fencing projects have been completed — not the wall Trump promised during his presidential campaign.
    • Pelosi complained to Trump about forcing them to debate the issue in front of the press, urging him to have a discussion "where we don't have to contradict in public the statistics you put forth."

    Congressional Democratic leaders clashed with President Donald Trump over misrepresenting the state of his long-promised border wall during a remarkable on-camera debate in the Oval Office on Tuesday.

    In a heated dispute over his requested $5 billion in funding for the wall, House Minority Leader Nancy Pelosi and Senate Minority Leader Chuck Schumer confronted Trump over his repeated false claims, urging him to have a "truthful" discussion.

    At one point in his remarks, Trump boasted that "a lot of the wall is built, and it has been effective," even though none of the wall that he promised in his presidential campaign has been built, aside from eight prototypes constructed outside of San Diego, California.

    Read more: Trump gets into raucous, on-camera Oval Office debate with Schumer and Pelosi and says he'd be 'proud' to shut down the government

    border wall prototypes

    Trump even presented flashcards with statistics purportedly showing the success of the border wall, saying illegal traffic in the border regions of San Diego, El Paso, Tucson, and Yuma dropped "when the wall was up." But only fencing has been built with the $1.6 billion allocated last spring.

    "Here's what I want to say. We have a lot of disagreements here. The Washington Post gave you a lot of Pinocchios because you constantly misstate how much of the wall is built," Schumer said, likely referring to the newspaper's recent "bottomless Pinocchio" rating for Trump's most frequently repeated false claims.

    At another point in the meeting, Trump insisted that debating the issue in front of the press was "not bad, Nancy. It's called transparency," after Pelosi complained about having the meeting on-camera.

    Pelosi fired back, "It's not transparency when we're not stipulating to a set of facts, and when we want to have a debate with you about confronting some of those facts."

    Read more: Nancy Pelosi says funding for Trump's 'immoral, ineffective, expensive' border wall is off the table

    chuck schumer nancy pelosi

    She went on to argue that the flashcards he had presented "are not factual" and urged Trump to participate in a discussion "where we don't have to contradict in public the statistics you put forth."

    "We have to have an evidence-based conversation about what does work and what money has been spent and how effective it is," she said. "This is about the security of our country you take an oath to protect and defend. We don't want that mischaracterized by anyone."

    After the meeting, Pelosi told reporters again that she wished the debate had not been public, but that Trump's misstatements needed to be corrected.

    "We didn't want to contradict the president when he was putting forth figures that had no reality to them, no basis in fact," she said. "We have to, if we are going to proceed in all of this, have evidence-based, factual, truthful information about what works and what doesn't. I didn't want to in front of those people say, 'You don't know what you are talking about.'"

    Join the conversation about this story »

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    katy perry platinum

    • Dyeing your hair, no matter what, is a big decision. Going platinum blonde is even more intense — it takes hours and can be expensive.
    • But if a big change is what you're looking for, this is your best bet. Just look at these 21 celebrities who have bleached their hair.
    • From Taylor Swift to Kanye West, these celebs have tried out new platinum 'dos.


    There are plenty of hair colors that go in and out of style. In this past year, we've seen butterbeer hair, desert rose hair, and peanut butter and jelly hair, to name a few.

    But platinum blonde is a color that will always be cool. It's why so many celebrities have tried it for themselves, no matter their original color. It's the best way to completely change your look.

    Although you might not have the time and money (or guts) to peroxide your entire head, these 21 celebs took the plunge.

    Kim Kardashian, along with the rest of her famous family, is no stranger to wigs, but she dyed her hair platinum (for the first time) in March 2015.

    The "Keeping Up with the Kardashians" star dyed her hair platinum blonde for the first time in March 2015, after revealing her husband, Kanye West, had been asking her to go blonde for a while.

    She's gone back to the shade a few times since then, but mainly sticks to her signature long dark locks.



    Kylie Jenner is another member of the family who has decided to try out the platinum lifestyle.

    Jenner regularly switches up her hair — at this point she's been almost every color of the rainbow. Usually it's with wigs or extensions, but she revealed on Snapchat in 2016 that she took the plunge and dyed her naturally dark hair a bright blonde. The process took an entire day, which is the healthiest and least painful way to transform your locks.

     



    Another member of the extended Kardashian-Jenner clan, Kanye West, has tried his hand at the blonde lifestyle.

    After his 2016 hospitalization, West emerged for the first time with bleached hair. He kept the look through the beginning of 2017, but has since switched back to his natural dark hair.



    See the rest of the story at Business Insider

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    11458764034_ee5dd19941_b

    • The housing market in San Francisco is so expensive that it's commonly referred to as being in a crisis.
    • Restaurant workers are fleeing the city's unmanageable costs, The Guardian reported, and it's changing the way the industry is serving customers.
    • Some restaurants are having customers order at a counter instead of being waited on at a table and are simplifying their menus to decrease the size of their waitstaff.
    • The problem isn't unique to the Bay Area: Restaurants in cities like New York City and Washington have encountered similar staffing issues.

    Michelin recently released its 2019 San Francisco Guide— and awarded the city more stars than it's ever had before, including eight restaurants with the coveted three-star status.

    But there's a grimmer reality behind these numbers: Many restaurants in the city can no longer attract or maintain enough talent to keep operations running as they have been.

    Largely, that's because the San Francisco housing market is so expensive that it's driving people out in droves. In fact, as Business Insider's Melia Robinson reported, the city is so expensive — the median home sale price is $1.6 million— that 60% of tech workers say they can't afford homes.

    The news bodes even worse for many workers in the service industry. Despite a citywide wage hike implemented on July 1, 2018, that raised the minimum wage to $15 an hour, rent continues to be unaffordable for many. And it means that restaurants, bars, and coffee shops, once a common source of employment for people in the Bay Area, are struggling to hire enough staff to keep operations running.

    As The Guardian reported, the effect this is having on the restaurant industry is twofold: Restaurants are either closing down, or they are changing how they serve their customers.

    Read more: I've lived in the Bay Area for 30 years, and I'm convinced that tech companies have ruined it

    In an effort to stay open despite staffing shortages, restaurants that previously may have had extensive menus and waiters tending to each table are taking measures to cut back on the size of the staff that both prepares and serves the food.

    Instead of traditional service, The Guardian's Erin McCormick wrote, some restaurants "... are having the customers do the work by standing in line to place their orders and picking up their own drinks. Meanwhile, new 'fine casual' establishments are serving scaled-down menus that can be easily prepared by fewer cooks."

    Looking beyond the Bay Area

    While San Francisco is particularly notorious for its rising prices, the problem extends beyond the Bay Area.

    High rent in New York City has had a similar effect on the restaurant industry, reports The Guardian. And Washington, as The New York Times reported in April, is also experiencing a staff shortage — but the problem there is that the expanding restaurant scene is simply outpacing the area's ability to staff these establishments.

    "The demand for highly skilled help is especially acute in Washington, where a boom in restaurants run by creative chefs is outstripping the region's labor force," wrote the Times.

    Ultimately, the shortage of restaurant staff creates a problem whose repercussions are felt by both the staff and by the diners.

    For guests, it means at the very least an altered dining experience with less human interaction from the waitstaff. At worst, as the Michelin Guide wrote, it manifests as "lackluster service and food or fewer opportunities to dine."

    And for management looking to fill out staff at these establishments, it means that hiring is an increasingly pressing challenge. As Business Insider's Kate Taylor previously reported, "Analysts are also calling a lack of employees one of the biggest problems in the restaurant industry today."

    Are you an industry professional who's been affected by staffing shortages or has a story to share? Email the author at lbatarags@businessinsider.com.

    SEE ALSO: Silicon Valley is so expensive that people who make $400,000 think they're middle-class — here's what the middle class actually is in the 25 largest US cities

    READ MORE: A Michelin-starred chef says restaurants should stop serving avocados because they're 'the blood diamonds of Mexico'

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    taylor concert ama

    • During her 2018 "Reputation" stadium tour, Taylor Swift used facial recognition software to track her stalkers at concerts, Rolling Stone reports.
    • The software was used at a kiosk that showed rehearsal footage at shows in Los Angeles' Rose Bowl and New York's Madison Square Garden.
    • When people stopped to watch the clips, their picture was taken.
    • The images were then whisked to a "control center" in Nashville, Tennessee, where they were reviewed.
    • It's unclear who owns the images of concertgoers and how long they can be kept for.

    During her 2018 "Reputation" stadium tour, Taylor Swift used facial recognition software to track her stalkers at concerts, Rolling Stone reports.

    Swift and her team used the software on several stops along the tour, including Madison Square Garden in New York and the Rose Bowl in Los Angeles, according to the magazine.

    As fans walked around the venue, many of stopped at a kiosk that played Swift's rehearsal footage. While they admired the clips, a camera equipped with facial-recognition software took pictures of onlookers, per Rolling Stone.

    Read more: How a Taylor Swift meme inspired a screaming goat in 'The Grinch' movie

    The images were then sent back to a "command center" in Nashville, Tennessee, where they were reviewed and cross-referenced with a database that catalogs hundreds of Swift's stalkers, Mike Downing, chief security officer of Oak View Group, told Rolling Stone. 

    As Rolling Stone notes, it's unclear who owns the images of concertgoers and how long they will be kept for.

    Visit INSIDER's homepage for more.

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    Youtube rewind 2018

    • 'YouTube Rewind 2018: Everyone Controls the Rewind' is on track to be the fastest and most-disliked video in the site's history.
    • The annual video put out by YouTube was released six days ago and, as of Wednesday morning, already has over nine million dislikes — less than a million likes behind the current first-place holder, Justin Bieber's 'Baby' music video.
    • In an effort to understand what makes audiences band together to dislike a video, we took a look at the 7 most-hated YouTube videos.

    In the last six days since the video was released, 'YouTube Rewind 2018: Everyone Controls the Rewind' has over 114 million views and 9.1 million dislikes, putting it on track to become the fastest and most-disliked video in the site's history.

    Justin Bieber's 'Baby' featuring Ludacris currently holds the first-place title for most-disliked video, at 9.8 million dislikes.

    'YouTube Rewind' features hundreds of its biggest stars and celebrities, though people are criticizing the video, and YouTube itself, for not including some creators who experienced strings of controversy. Vlogging duo and brothers Logan and Jake Paul were excluded, as was Felix "Pewdiepie" Kjellberg, a gaming commentator and comedian. The video appears to be an attempt for the company to keep advertisers on its side following a rather rocky 2018. However, this year's attempt, as previously reported by Business Insider, shows "a clear schism between the expectations and reality of YouTube."

    Logan Paul, one of YouTube's more popular and notable stars, was left out of the video, probably because of his controversial year that began when he posted footage of a dead body he discovered inside Japan's 'Suicide Forest'. Paul's 'So Sorry' video, a one-minute-long apology about the viral video, is YouTube's 11th most-disliked video, at 2.2 million dislikes. 

    So what makes a video so hated to begin with? What makes YouTube viewers join forces and collectively bash something someone (probably) put loads of work into?

    Let's take a look at the most-downvoted YouTube videos of all time, shall we?

    7. Rebecca Black - Friday

    With 127 million views and 3.7 million dislikes, Rebecca Black's 'Friday' comes in at #7. But let's cut Black a break: 2011 was a weird time. For example, Nick Jonas was wearing a purity ring and Kim Kardashian was still seen out in public wearing leopard print. If anything, Black's song was an anthem of the times, one everyone still knows all the words to (let's be honest). She has even come into her own as a singer and songwriter, despite the viciousness she faced from this video's release. 

    Fun, fun, fun!



    6. Luis Fonsi - Despacito ft. Daddy Yankee

    If you were alive in the summer of 2017 (or alive now), you may be able to understand why this video has 3.6 million dislikes (and 5.7 billion views). It played on nearly every speaker — from clubs to cabs and restaurants to bridal showers... over and over and over again. It's one of those songs that by the mere mention begins to play in your head. Can you hear it now?



    5. PewDiePie - Can this video get 1 million dislikes?

    This was YouTuber PewDiePie's attempt to encourage followers to dislike his own video. And it worked. The video has 15 million views and trails behind the Call of Duty trailer with 3.76 million dislikes. The video starts with PewDiePie on the phone (for well over a minute), continues with him drinking a bottle of vodka and then proceeding to ride an orange octopus through a neighborhood. Perhaps it may just be one those "in the know" things dedicated fans and followers understand. 



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    Jacksonville Florida

    • A woman is suing a Navy hospital in Jacksonville, claiming doctors left a portion of an anesthesia needle in her spine 15 years ago.
    • Medical records, viewed by The Florida Times-Union, do not mention the needle breaking or remaining embedded.
    • The lawsuit, filed by attorney Sean Cronin, alleges hospital staff intentionally covered up the incident because they thought they would get in trouble after improperly administering the anesthesia.

    A woman is suing the Naval Hospital at Jacksonville, Florida, after discovering a portion of an anesthesia needle was left in her spine before a C-section at the facility in 2003, according to The Florida Times-Union

    Her lawsuit claims that hospital staff improperly administered the anesthesia, which caused the needle to break, then covered up the incident. According to the suit, about three centimeters — just over an inch — of the broken needle were left inside her body.

    According to the Times-Union, medical records from the time make no mention of the needle breaking but do say that "the anesthesia did not take."

    Amy Bright, whose husband was a Navy corpsman stationed at the hospital, suffered from leg and back pain for several years, according to attorney Sean Cronin, who filed the lawsuit on her behalf. 

    Cronin told the Times-Union that the needle was discovered when Bright underwent a CAT scan last year. He told the newspaper that removing the needle is no longer an option, as Bright could suffer from further damage and even become paralyzed. Bright was reportedly never told about the needle.

    "From our perspective this is a double failure," Cronin told the newspaper. "It is a cowardly, unethical cover-up."

    Cronin told the Times-Union that hospital staff did not report the broken needle to Bright or the chain of command because "they did not want to get in trouble."

    In a statement issued to the Times-Union, representatives of the hospital said they could not provide comments regarding the lawsuit or Bright's situation, citing patient confidentiality and privacy laws, but said they were "deeply committed to providing the best care to every patient entrusted to us."

    Join the conversation about this story »

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    mark zuckerberg christmas

    • Facebook threw its annual holiday party for employees last weekend.
    • It was themed around a winter village, with attractions including chainsaw ice-sculpting, a "thumbs up tavern," and costumed dancers.
    • It's been a pretty rough year for Facebook employees, and morale dropping following multiple scandals.
    • Attendees shared photos of the revelry on Instagram.

    Facebook employees blew off steam this weekend with a two-day party at a swanky San Francisco venue that featured a custom-built winter wonderland, chainsaw-ice-sculpting, and Christmas dancers.

    On Friday and Saturday, the Silicon Valley tech giant threw its annual official holiday party for employees. This time around, it was held at the Palace of Fine Arts, and was centered around a winter village with attractions including a Facebook "thumbs up tavern," sweet shop, "toy shop," and ski chalet-like decor. 

    It's been a tough year for Facebook employees, with morale dropping precipitously following multiple scandals — from Cambridge Analytica to the social network's role in the spread of hate speech amid genocide in Myanmar. The company holds festive celebrations for its employees every year; in previous years it has rented out San Francisco's AT&T park, and thrown Great Gatsby-themed shindigs.

    The party may have been held over two nights, but it sounds like that was for crowd control reasons rather than because it was a non-stop bacchanalian carnival — Facebook has tens of thousands of employees in the Bay Area, after all. An attendee told Business Insider that it was incredibly crowded, with queues for everything.

    COO Sheryl Sandberg was spotted there on Friday night, we're told; it's not clear if and when other senior leadership attended. But there was also a private area for execs and VIPs only, so they may have sheltered away from the crowds.

    SEE ALSO: The 18 biggest tech scandals of 2018

    Attendees' Instagram posts provide a window into how Facebook employees let their hair down at the party. There was a life-size bear ice sculpture there, which was carved via chainsaw. (Click the arrows on the Instagram post for a video and more images.)

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    One of the central areas featured shipping containers and a ski-lift gondola.

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    The winter village street was bedecked in holiday lights and festive decorations.

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