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Hello. Luigi Mangione, a 26-year-old Ivy League graduate, has been charged with murder in the fatal shooting of UnitedHealthcare CEO Brian Thompson.

Mangione was arrested in Pennsylvania on Monday and initially faced local gun and forgery charges. Our team has been covering this developing story — keep up with our coverage here.

In today's newsletter, the $13 billion Omnicom-IPG megamerger reflects a new era as Big Tech and AI upend the ad industry.

What's on deck:

• Markets: Nvidia shares fell after China hit the chipmaker with an antitrust probe.
• Tech: Former Google employees on being laid off from the tech giant and their advice for those in a similar position.
• Business: Rupert Murdoch lost a 'Succession-like' legal battle over future control of his media empire.

But first, a new ad-venture.

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The big story

The ad industry's new era

It's already been a big week for the ad industry.

Omnicom Group said it had reached an agreement to acquire Interpublic Group, a merger worth more than $30 billion that would create the world's largest ad conglomerate.

Across the pond at Paris-based Publicis Groupe, the party hats might be staying in the drawer. Just last week, Publicis recruited Snoop Dogg for a video to help celebrate the firm usurping London's WPP to become the world's largest ad holding company.

But it's not just about being No. 1. For ad industry insiders, the proposed takeover reflects an ad sector under threat from Big Tech and AI, writes Business Insider's Lara O'Reilly. By creating a larger company, Omnicom-IPG will have a bigger base to deploy data and technology, which could give it leverage to secure beneficial and exclusive deals with partners such as cloud providers.

Keep in mind, however, that in the short term mergers can be highly disruptive.

Concerned clients. Bruised egos. Job cuts.

Integrating two companies with 100,000 people combined, dozens of different agency brands, and hundreds of offices across the globe will not be a simple task. There will likely be synergies — including job cuts. "It will be harder to climb the career ladder. Superstar creators and creatives will also be in demand, as well as good strategists, in all disciplines. But, lots of other roles will become diminished," Simon Francis, who leads the marketing consultancy Flock Associates, told BI.

However, as Lara highlights, that could create opportunities for smaller agencies, especially as the merged company works its way through the disruption caused by integration, egos being knocked out of joint (it wouldn't be the first time), and potential client conflicts where the new entity suddenly works with two or more fierce rivals in the same sector.

"From an M&A perspective, it's only going to add fuel to the fire."

That's according to William Ritchie, founding and managing director of advisor firm WY Partners. "I'd expect there is going to be more competition for the best assets and more focus on building a streamlined data and tech-first offering which can compete," he told BI.

Private equity has been circling the ad industry, too. Apollo, KKR, and Blackstone have shown interest in media and entertainment. Industry insiders have speculated for months that WPP could be taken private — or at least some parts of it could be.

News brief

Top headlines

• What we know about Luigi Mangione, the Ivy League grad charged with murder in UnitedHealthcare CEO's killing.
• Jay-Z asks judge to unmask Jane Doe who said in a lawsuit that he and Diddy raped her when she was 13 years old.
• Trump says he's 'having dinner' with Jeff Bezos. It's the latest development in their long history.
• AMD downgraded after BI report on weak demand for its AI chips among AWS customers.
• Post-Assad Syria will be a new challenge for America's Middle East strategy.

3 things in markets

1. Nvidia stock drops as China probes the chipmaker over potential antitrust violations. China's government is looking into Nvidia's acquisition of chip design firm Mellanox, which it previously approved. Nvidia stock fell by more than 2.5% early Tuesday.
2. Microsoft and Amazon investors are eyeing pieces of the bitcoin pie. Shareholders at Microsoft and Amazon will decide this week if their respective companies should consider investing in bitcoin. The cryptocurrency recently blew past a $100,000 milestone that bestowed great gains on MicroStrategy, which saw triple-digit gains after buying up bitcoin this year.
3. Some advice from Citi's newly minted MDs. Citi appointed its largest class of managing directors under CEO Jane Fraser last week. Five of the new MDs told BI their best career advice and reflected on the bank's massive transformation.

3 things in tech

1. Life after Google. The past few years have been rough for those in the tech world as the industry faced historic layoffs. Eight ex-Googlers — including one who has since returned — shared what it was like to lose what some considered their "dream job," and how they found their footing after.
2. Inside MrBeast City. Jimmy Donaldson, the creator better known as MrBeast, shared photos of the "city" he built for his upcoming "Beast Games" show. He said it cost more than $14 million to build.
3. OpenAI's shiny new video generator is open to the public. Sora, which can generate videos up to 20 seconds long from written prompts, went live Monday. Its product lead said a team of about five or six engineers built the generator in months.

3 things in business

1. Murdoch's "Succession" battle. Life imitates art, or perhaps, art imitates life. Rupert Murdoch lost a legal case over the future of his media empire in a real-life succession battle on Monday. Rupert, 93, and his son Lachlan took on three other Murdoch children in court — and lost, for now.
2. Thinking outside the deck. For better or worse, slide decks have been at the crux of how Americans work in the nearly four decades since PowerPoint launched. But they've also faced a lot of backlash, including from CEOs like Elon Musk and Sundar Pichai. Does that mean the deck is in jeopardy? Next slide.
3. AI's pollution price tag. AI-related emissions will soon rival that of all the cars in California, according to a new study. In just six years, the study found, AI electricity consumption could pollute the air so much that asthma-related deaths could spike by more than a third. By 2030, researchers calculated, AI's health impact could total up to $20 billion.

What's happening today

• Israeli Prime Minister Benjamin Netanyahu testifies at his corruption trial in Jerusalem.
• Treasury Secretary Janet Yellen speaks at Wall Street Journal CEO Council Summit.
• Nobel Prizes, including the Nobel Peace Prize, are presented in Stockholm, Sweden.

The Insider Today team: Hallam Bullock, senior editor, in London. Grace Lett, editor, in Chicago. Ella Hopkins, associate editor, in London. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York Milan Sehmbi, fellow, in London.

• This post originally appeared in the Insider Today newsletter.
• You can sign up for Business Insider's daily newsletter here.

Good morning! Hallam Bullock here, once again writing to you from London. Black Friday is upon us and Business Insider's Reviews team has rounded up the best deals on the products and brands they swear by.

In today's newsletter, we're looking at how Nvidia expanded nearly 20-fold in just over 20 years.

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The big story

Nvidia's meteoric rise

A few years ago, Nvidia was largely unknown. It's difficult to believe, considering the company can now boast about back-to-back earnings beats, a market capitalization of more than $3 trillion, and a stock price that has climbed nearly 200% over the past 12 months — Citi analysts also recently eyed a catalyst that could push the stock a further 27% by January.

So, how can a company grow so much, so quickly? The data behind the evolution of Nvidia's workforce tells the story, BI's Emma Cosgrove writes.

Nvidia's workforce has grown nearly 20-fold since 2003. Beyond its historic rise in market value, this growth has been aided by a slew of employee incentives, including a futuristic headquarters that reflects the company's "no barriers and no boundaries" philosophy (it's easy to see why they named the building "Voyager").

This workforce growth continued through 2024, a particularly brutal year for the Tech industry, during which time Meta and Google made significant cuts.

It's one of the best-paying firms in Silicon Valley. In 2019, Microsoft's median employee salary was nearly $20,000 higher than a Nvidia worker. As of January 2024, Nvidia's median salary (excluding the CEO) had surpassed Microsoft and reached more than $220,000. As the above chart illustrates, it's also left other tech giants in the dust.

Nvidia's revenue per employee has recovered after years of investment. The company's revenue-to-headcount ratio showed a downward trend from 2003 until 2014, and then steady upward progress until the AI boom in 2023. During that year, this ratio doubled. This is in part due to early investment in building a programming software layer called CUDA — the main element that keeps AI builders from easily switching to competing hardware.

However, the company isn't as far ahead in other areas. Gender representation in the company's workforce and the semiconductor industry as a whole has remained relatively unchanged in the last decade, Emma writes.

News brief

Top headlines

• China reacts to Donald Trump's tariff announcement, calling the move ineffective and unjustified.
• Canada is Google's latest antitrust legal challenger, and it wants the tech giant to sell two of its adtech products.
• The five biggest swings Netflix took this year, from a massive push into live sports to overhauling its film strategy.
• Baby boomer homeowners got rich from skyrocketing house prices. Now they can't find retirement housing.
• Trump will decide the future of government money for healthcare plans. Letting it expire could save money, but the middle class might pay more.
• FTX scammer Caroline Ellison has already had nearly four months shaved from her scheduled release from prison.
• Turkey angles for Trump to break the deadlock on F-35 purchases, after the US barred the country from acquiring them five years ago.
• Uber and Lyft drivers say Waymo's robotaxis are hurting their earnings in Phoenix and LA.
• Meet the billionaires working with Trump on his second term.

3 things in deals

1. Holiday shopping, meet Black Friday: Our team has scoured the internet to bring you the ultimate roundup of Black Friday deals. From tech gadgets and home essentials to fashion finds and beauty must-haves, this is your go-to guide for scoring major savings across every category.
2. Wardrobe refresh: Our women's style team rounded up the best Black Friday sales from our favorite clothing and shoe brands on the internet. Score major discounts on comfy coats, rarely discounted cashmere, denim, and more.
3. Tech upgrades: Score major Apple Black Friday discounts on the latest iPhones, MacBooks, iPads, AirPods, and more. Whether you're upgrading your tech or getting a head-start on holiday gifts, now's the time to shop Apple at unbeatable prices.

The Insider Today team: Hallam Bullock, senior editor, in London. Ella Hopkins, associate editor, in London. Milan Sehmbi, fellow, in London.