Top Stories this AM: Carlos Ghosn’s accomplices plead guilty; China’s AI program to read your emotions; Ricky Shroeder’s anti-vax Foo Fighters attack

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What’s going on today:

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10 things in tech: Amazon turnover, Airbnb payouts, Intel salaries

Amazon warehouse staff

Good morning and welcome to 10 Things in Tech. If this was forwarded to you, sign up here.

Let’s get started.

1. Amazon burns through workers so quickly that execs worry they’ll run out of people to employ. The company has been on a massive hiring spree, but those employees are quitting almost as fast as they can be hired, according to The New York Times. More on Amazon’s 150% turnover rate.

2. Pink Floyd’s Roger Waters said he won’t let Facebook use one of the band’s songs. The company offered a lot of money to use “Another Brick in the Wall, Part 2” in an Instagram ad, Waters said. Why he told Facebook “No f—ing way.”

3. Top Uber execs are discussing easing up on its return-to-office plans after a backlash. Under the current policy, employees are required to be in the office three days a week starting in September – but a new idea would allow a few members from each team to be fully remote. Read more from our exclusive report.

4. Airbnb spends $50 million a year on guests and hosts who have bad experiences. And not just because the rental didn’t look like the pictures – that money has included counseling sessions, patching bullet holes, and hiring body-fluid crews to clean up blood. Here are some examples of Airbnb’s payouts.

5. Larry Ellison’s indoor farming company is working toward feeding the world. Sensei Ag’s Tesla solar-powered greenhouses grow produce that’s distributed throughout Hawaii – and soon, its CEO hopes, the world. Take a look at the company’s plans.

6. SpaceX president Gwynne Shotwell said the company has a “no a–hole” policy. This stops staff shutting down conversations and allows people to propose big ideas, she said. Here’s what else she said.

7. World Wide Web creator Tim Berners-Lee is auctioning his source code as an NFT. The NFT includes the source code, which is about 9,555 lines long, as well as an animation and a letter written by Berners-Lee. Get the full rundown here.

8. Antivirus mogul John McAfee said he’ll spend the rest of his life in prison if he’s extradited to the US. McAfee, who is currently in Spain, is wanted in Tennessee for tax-related charges for his alleged failure to disclose income. Read up on his arrest and testimony.

9. How much does Intel pay its employees? We examined how much the chip giant pays engineers, managers, and more as it aims to turn around slowing growth and invests $20 billion in building new US factories. Here’s a peek at the salaries.

10. Steve Burns, the CEO of Tesla-wannabe Lordstown Motors has resigned. Insiders say he exaggerated demand and hired interns to do his engineering. We spoke with 17 former employees from Burns’ startups to better understand what happened.


Compiled by Jordan Erb. Tips/comments? Email jerb@insider.com or tweet @JordanParkerErb.

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Top Stories this AM: A reporter’s on-air Fox Corp. rant; Pink Floyd disses Facebook; Uber eases up on WFH

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What’s going on today:

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Top stories this PM: Novavax 90% effective; UK extends lockdown; Reality Winner is free

Good evening. Here are the top stories so far today.

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What happened today:

Some good vaccine news. Biotech company Novavax said its coronavirus vaccine succeeded in a final-stage clinical trial, demonstrating 90% efficacy at preventing COVID-19. Data from the study will allow Novavax to submit the shot to US regulators, which it plans to do by the end of September. Nearly 65% of the adult population has received at least one dose of a coronavirus vaccine, the CDC said.

Some bad lockdown news. Prime Minister Boris Johnson announced the UK will delay lifting its remaining COVID-19 restrictions for four weeks, until at least July 19. “I think it is sensible to wait just a little longer,” Johnson said, explaining that by July 19, “we will aim to have double jabbed around two-thirds of the adult population.”

Back to Reality. Reality Winner, the ex-NSA contractor convicted of leaking a report about Russia’s meddling in the 2016 election, has been released from prison. Winner was sentenced to five years behind bars in 2018. “Her release is not a product of the pardon or compassionate release process,” Winner’s attorney pointed out, “but rather the time earned from exemplary behavior while incarcerated.”

The unending epidemic. During a six-hour period this weekend, four major US cities – Savannah, Cleveland, Chicago, and Austin – experienced mass shootings, leaving 6 dead and 33 injured. Chuck Wexler, executive director of the Police Executive Research Forum, said the surge in gun violence has police officials bracing for a particularly violent summer.

Oh Joe you didn’t. Johnson appeared to twice wave away President Joe Biden’s interruptions Saturday while he was hosting a roundtable of world leaders at the G7 summit. Biden had wrongly suggested Johnson hadn’t introduced South African President Cyril Ramaphosa. Yes, there’s video.

That’s all for now. See you Thursday.

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Top Stories this AM: Biden says the Queen is just like his mom; a freezing stress reliever; a cocaine cruise ship windfall

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What’s going on today:

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Fred DeLuca ran Subway like a titan, sleeping with franchisees’ wives, micromanaging, and penny-pinching. Insiders say he set it up for failure.

Hello!

Welcome to this weekly roundup of stories from Insider’s Business co-Editor in Chief Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday.

What we’re going over today:

_Fred DeLuca, poses with a sandwich in a Parisian Subway restaurant on June 17, 2011 Photo credit should read ERIC PIERMONT_AFP via Getty Images

What’s trending this morning:


How Fred DeLuca sent Subway into a tailspin

By the time he died in 2015, Fred DeLuca had created a secretive, complex multibillion-dollar enterprise, and ensured no one knew Subway the way he did. We spoke with 20 of DeLuca’s employees, business partners, and friends to understand why a man obsessed with his company failed to protect it:

Despite an estimated net worth of $3 billion, DeLuca eschewed designer suits, flew coach, and berated his daughter-in-law if she dared to pay up for organic produce at Whole Foods.

Frugality didn’t always translate into modesty, though. As DeLuca grew Subway from a tiny submarine chain into a behemoth with 27,000 locations and $17 billion in global sales in its heyday, he refused to relinquish much control.

He ran Subway like a titan, maintaining a tight grip on the company operations and surrounding himself with employees who loved and feared him. DeLuca devised a system that gave him the final say and even philandered with some franchisees’ wives, two sources said.

And he got away with it.

Read our full profile on the man who built – and ultimately hobbled – the Subway empire:

Also read:


The 46 most promising startups of 2021

Li Jin, Hans Tung, Gabby Cazeau, and Mike Duboe on a purple background.

We asked top venture capitalists to name the most promising US startups so far in 2021. The result is an exciting list of rising startups at every stage from a range of industries:

Anis Uzzaman of Pegasus Tech Ventures and Hans Tung of GGV Capital both highlighted a sleep and meditation app Calm.

The pandemic shone a spotlight on wellness and mental health. Calm was already one of the biggest names in wellness tech, and it’s poised to expand as the world emerges from pandemic lockdowns, Uzzaman said. Before the start of the year, it scored a $2 billion valuation in its Series C round.

“Mental health is often overlooked yet is among the most important aspects of healthcare,” Tung said.

Get the full list here:

Also read:


Why the healthcare industry is skeptical about the new Alzheimer’s drug

alzheimers research 4x3

Biogen’s new Alzheimer’s drug stumbled through testing, but will nonetheless become available in the US with a price tag of $56,000. Experts say the drug’s approval could make it more difficult to enroll people in tests of better treatments, and are worried about its effectiveness:

The arrival of the first new Alzheimer’s drug in two decades should have been a moment of celebration. But so far, the healthcare industry is feeling concerned.

On Monday, the US Food and Drug Administration approved a new medication called Aduhelm. The drug, made by the biotech company Biogen, is designed to remove a sticky plaque that builds up in the brains of some people with Alzheimer’s, which it did in clinical trials. But it isn’t clear that using the drug to clear this plaque leads to an improvement in memory and cognition.

“I don’t believe that the drug provides benefits,” Dr. David Knopman, a neurologist at the Mayo Clinic, told Insider.

See why the new medicine has the health community worried:

Also read:


How officials helped sell public school access to Chinese elite

Steve Ma with the Pegasus California School emblem and school and California and China flags next to him on a pale yellow background

Pegasus California School seemed impressive. The class sizes were significantly smaller than other Val Verde schools, and it offered dedicated evening study sessions overseen by faculty. The school guaranteed parents, in writing, that every graduate would gain admission to one of the top 100 US universities. But there was a hitch:

Even though it was a part of an American public-school district, tuition and fees at Pegasus added up to more than $34,000 a year. And even though it was largely staffed by Val Verde teachers and administrators, it was actually a boarding school. And even though it conferred a Val Verde diploma to graduates, Pegasus California School was really a private academy exclusively serving Chinese students in Qingdao, China.

How it got there, and how it leveraged the resources and personnel of a middling public-school district for the benefit of private investors and wealthy families halfway across the globe, is the story of one businessman’s quest to monetize American public education with the help of California’s most powerful education official.

Read our full exclusive report on Pegasus California School here:

Also read:


You’re invited: Join us and learn how to navigate the complicated process of buying a home in today’s hot market on Tuesday, June 22 at 12 p.m. ET – during a free, hour-long virtual event presented by Fidelity. Register here.

Finally, here are some headlines you might have missed last week.

– Matt


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Miami and Space – the new battlegrounds for tech’s top egos

Hello, and welcome to this week’s edition of the Insider Tech newsletter, where we break down the biggest news in tech, including:

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Soundtrack: This week’s newsletter has been specially designed to be consumed while listening to David Bowie’s “Starman.”


This week: Tech egos are clashing, from the shores of Miami to the depths of space

Elon Musk, Jeff Bezos, Richard Branson
Elon Musk, Jeff Bezos, Richard Branson

For more than a year, Silicon Valley techies have abandoned their homeland and poured into Miami in search of startup El Dorado. As Candy Cheng reports, the influx of newcomers is causing friction with the locals.

If not Miami, then space. There’s another group of brash Silicon Valley adventurers setting off for new horizons, and lucky for them, where they’re going there are no locals to clash with (we think).

Meanwhile, rival space entrepreneur Sir Richard Branson may try to beat Bezos to orbit by blasting off in a Virgin Galactic spaceship on July 4.

Elon Musk, the other space race billionaire, has yet to announce plans for his own imminent trip. But chatter has centered on a prediction from a 1953 book that describes a leader called “Elon” leading humans to Mars– seriously.

And a former Blue Origin employee has just raised $650 million to build 3D-printed rockets.

Even Palantir, the data analysis company, has a spacebound employee. Kelli Gerardi 32-year old Tik Tok star and logistics expert at Palantir, will be aboard a separate Virgin Galactic flight expected to launch in 2022.

“Less than a thousand humans have ever been to space – fewer than 100 women, only a handful of moms – and my 3-year-old is going to watch her mommy become one of them,” Gerardi told Insider.


Startups to watch

Li Jin, Hans Tung, Gabby Cazeau, and Mike Duboe on a purple background.
Li Jin, Hans Tung, Gabby Cazeau, and Mike Duboe.

Insider asked dozens of top VCs to name the most promising Startups of 2021. They were asked to nominate startups they had invested in as well as ones where they had no financial ties. And they delivered an exciting list of companies, across all stages from newly launched to unicorns, each thriving for different reasons.

In our first on a series of stories of the Most Promising Startups of 2021, we present a list of 46, many of whom were named by multiple VCs as being companies to watch this year.

Read the full story:

46 of the most promising startups of 2021, according to top VCs


Snaphot: Polaroid’s life lesson

Yesterday’s innovative breakthrough is today’s retro tchotchke, and the miniaturized version of Polaroid’s classic instant camera is a fun, and instructive, reminder of the olden times.

The tiny plastic Polaroid Go spits out photos that gradually, over a period of 10 to 15 minutes, develop all by themselves. Once upon a time, that was a big deal – it meant you didn’t have to take your film to be developed at a shop and then wait a couple of days to get prints of your photos.

The Polaroid Go

For today’s digital generation, there’s nothing special about being able to view pictures right away, of course.

But perhaps the Polaroid has something better than mere nostalgia to offer Gen Z.

Scarcity is an increasingly foreign concept to those living in a time of super-low interest rates, bottomless social media feeds, on-demand streaming movies, and smartphone cameras that take infinite selfies. With a film camera – even a toy-like instant camera – you only get a finite number of pictures. Each shot needs to count. Imagine that.


Recommended readings:

‘I was pregnant and then I wasn’t.’ How a miscarriage led a startup employee to build a company that’s now funded by Alexis Ohanian’s Seven Seven Six.

VMware is in an all-out sprint to grow its $1 billion security business, doubling its engineering staff to compete with cyber giants like Microsoft and Cisco

Travis Kalanick’s CloudKitchens loses second exec in a month

This pitch deck persuaded Softbank to make its first banking tech investment, sending Zeta’s valuation rocking to $1.45 billion

IBM salaries revealed: How much the $132 billion tech giant paid software engineers, business analysts, and more in 2021

Top executives at Magic Leap are leaving the company in the biggest leadership shakeup under CEO Peggy Johnson


Not necessarily in tech:

Subway cofounder Fred DeLuca ruled the company like a demigod and pursued wives of franchisees. How one man sent the world’s biggest fast-food chain into a tailspin.


Thanks for reading, and if you like this newsletter, tell your friends and colleagues they can sign up here to receive it.

– Alexei

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What a controversial drug approval could mean for future Alzheimer’s treatments

Hello,

Welcome to Insider Healthcare. I’m Lydia Ramsey Pflanzer, and this week in healthcare news:

If you’re new to this newsletter, sign up here. Tips, comments? Email me at lramsey@insider.com or tweet @lydiaramsey125. Let’s get to it…


We’re still looking for nominees for our annual 30 under 40 list!

Know someone under 40 transforming the healthcare industry? Submit their name here. Nominations are due by June 30.


alzheimers research 4x3

A massive – and controversial – Alzheimer’s drug approval

Wow, I can’t believe it was just this Monday that the Food and Drug Administration approved the first new Alzheimer’s treatment in nearly two decades.

There were a few surprises that came with the approval of the drug, Aduhelm. For one, there were no real limitations placed by FDA on who will be eligible for the new drug. And the drug costs roughly $56,000 a year.

…. And let’s not forget this is a drug that an expert panel voted against approving last November.

Allison DeAngelis and Shelby Livingston this week dug into a little-known barrier could stand in the way of millions of patients clamoring to get the treatment.

Since the approval, doctors have started resigning from the FDA’s expert panel – the one that voted against approving the drug.

Allison and Andrew Dunn analyzed the problems facing Aduhelm – and future Alzheimer’s drugs.

Find out more>>

The first new Alzheimer’s drug in decades costs $56,000, probably doesn’t work, and could stand in the way of better treatments


Noom
Noom is an app-based weight management startup.

Noom’s big bet on preventive care

This week, Megan Herbroth and Gabby Landsverk went digging into Noom.

The weight-loss startup stunned the healthcare industry in May when it raised $540 million from investors including Silver Lake and Oak HC/FT. And it’s betting big that it can do for sleep and anxiety what it did for weight loss.

It’s taken 13 years to get to this point, and not every idea worked.

Megan and Gabby spoke to Noom’s CEO, investors, and experts to get a sense of the journey that now convinces investors Noom’s worth $3.7 billion.

Get the full history>>

Inside the rise of $3.7 billion Noom: How a 13-year-old weight-loss startup is taking on one of the fastest-growing markets in digital health


Amazon Pharmacy

Amazon and Walmart face off over prescriptions

Is it just me, or has a lot of news about the health ambitions of Amazon and Walmart come out in near tandem?

This week, it was the news that Amazon and Walmart are competing to drive down the cost of medications.

And prescriptions isn’t the only place where competition between the two retail giants is heating up. Both are beefing up their virtual care presence. Last Friday, Shelby had the scoop that Walmart quietly filed to be a provider in 16 new states.

In a rare public appearance, a top Amazon VP shared that Amazon’s medical service will announce multiple companies it’s working with in the next few months.

When it comes to prescriptions, the two have the potential to shake up the pharmacy industry, Morgan Stanley analysts wrote in a note this week.

Here’s what’s at stake>>

Amazon and Walmart are competing to offer you the cheapest prescriptions, and it could shake up the entire pharmacy industry


More stories we covered this week:


– Lydia

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Top Stories this AM: A tentative infrastructure deal is struck; a COVID outbreak at a maskless crypto conference; elf ears are in

Good morning and welcome to your weekday morning roundup of the top stories you need to know.

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What’s going on today:

Read the original article on Business Insider

YouTube faces more brand-safety backlash from advertisers

Hi and welcome to Insider Advertising for June 11. I’m senior advertising reporter Lauren Johnson, and here’s what’s going on:

Programming note: This is the last daily edition of the newsletter. Thank you for reading! We’ll be taking a break for the next few weeks, but we’ll be back in inboxes in July – as a weekly newsletter from our colleague Lara O’Reilly. See you then.

Tips, comments, suggestions? Drop me a line at LJohnson@insider.com or on Twitter at @LaurenJohnson.


Susan Wojcicki

YouTube’s new plan to put ads on all videos is getting backlash from advertisers who say it could put brands at risk

Read the story.


Damien Geradin
Damien Geradin, founding partner of Geradin Partners

The lawyer who helped get Google fined $270 million in an adtech antitrust probe in France explains why the case matters globally

Read the story.


McDonald's.
McDonald’s.

A top McDonald’s PR exec is leaving after ‘two of the most challenging years’ of the fast-food giant’s history

Read the story.


Other stories we’re reading:

Read the original article on Business Insider