• Nvidia's Jensen Huang admitted he gets stage fright despite his cool persona in tech.
• Huang's nerves are shared by other tech leaders like Elon Musk and Mark Zuckerberg.
• Many have worked meticulously to lessen the pressure of public speaking.

Nvidia CEO Jensen Huang is considered a "cool guy" in the tech industry, but he revealed in a recent interview that being onstage still makes him nervous.

Huang's "60 Minutes" interview aired on December 29. The Nvidia co-founder said walking out to a big crowd at last year's GTC AI Conference was a scary experience.

"I'm an engineer, not a performer. When I walked out there, and all of the people going crazy, it took the breath out of me," Huang said after giving his keynote. "I'm still scared."

He's at the helm of a company valued at over $3 trillion, and Huang's style (like his signature black leather jacket) and his meteoric success in the booming AI field have earned him a cool guy reputation in Silicon Valley. Still, Huang acknowledged his nerves around delivering a speech — something he will have to confront again when he presents a keynote speech at CES in Las Vegas on Monday.

He's not the only tech founder to struggle with public speaking. Steve Jobs, the Apple cofounder known for leading iconic launch events, might've appeared like a natural at public speaking but reportedly planned them out months in advance.

His effortlessness was envied by Microsoft founder Bill Gates, who said Jobs had a talent for looking unrehearsed while on stage. Brent Schlender and Rick Tetzeli wrote in their 2015 book "Becoming Steve Jobs" that he actually spent entire days going over a presentation.

"I'll never achieve that level," Gates said on an episode of the Armchair Expert podcast.

Other leaders have been open about their nerves when addressing large crowds onstage. Meta CEO Mark Zuckerberg turned 40 in 2024, and he said he "didn't know anything about running a company, communicating publicly, etc" when he founded Facebook as a teen.

However, age and experience have made him more comfortable being himself in public, Zuck said on Threads.

Elon Musk was one of the most outspoken voices in 2024. As the owner of X, formerly Twitter, Musk uses his account to post almost daily. Before he owned the platform, he was still an active tweeter but admitted his lack of skills in public speaking in 2019.

Warren Buffett, billionaire investor and Berkshire Hathaway CEO, once said his fear of public speaking would've been detrimental to his career.

"I had been terrified of public speaking. I couldn't do it," Buffett said in the 2017 documentary "Becoming Warren Buffett."

Instead of letting his anxiety get in the way of his career, Buffett said he enrolled in a public speaking course after graduating from business school in 1951. Decades later, he still credits the course with changing his life.

• AI's significant impact on workforce and tech use will continue in 2025, leaders say.
• Shifts in workforce dynamics and consumer tech habits are reportedly on the horizon.
• Tariffs under Trump may lead to higher prices and project cuts for businesses, Rimini CFO says.

Talks of artificial intelligence dominated 2024, and tech leaders predict that the next stage of the new AI era will come in 2025 — for better or for worse.

Their mixed predictions indicate that the outlook for AI in 2025 is still uncertain. Still, many execs assert that the way people interact with technology will continue to change in 2025, and it'll likely impact jobs.

More intentional tech use is "reshaping our relationship with the digital world," and people are prioritizing wellbeing over attention-seeking, Amazon CTO Werner Vogels said in a December blogpost.

"The workforce of tomorrow will not only be driven by financial success and career progression but by a deeper desire to create positive change in the world," according to Vogels.

However, Clement Delangue, CEO of AI startup Hugging Face, predicts a more combative response to AI. He said on LinkedIn that the "first major public protest related to AI" is coming in 2025.

This year will also reveal if the prediction that Bill Gates has been vocal about for over 10 years will come to fruition. Gates has said on many occasions that two-thirds of all jobs in the US will require some form of education beyond high school by 2025.

Here's what else Vogels, Delangue, and other tech leaders say 2025 has in store.

The workforce is evolving.

Management services company ADP uses AI to assist sales reps, and GenAI helps the company prepare for investor days, among other things, according to The Wall Street Journal. Such investments will continue in 2025, Don McGuire, CFO at ADP, said to the Journal.

"Things that people used to sit beside you and have a headset, now you can do those things with GenAI tools," McGuire said.

As smarter tech integrates into the workforce, Vogels said "a quiet revolution" is happening among workers who value meaningful societal impact over financial success.

Millennials and Gen Z are leading the charge in finding their purpose at work, but Vogels said the trend is being driven by other age groups and the job market itself.

"Harnessing technology for good has become both an ethical imperative and a profitable endeavor," Vogels said.

Consumers will move away from distracting technology.

Tech users will find more intentional ways to use their devices in 2025, according to Vogels. The Amazon exec pointed at data related to social media use and mental health issues among teens in the US in his blog about 2025 as an indicator of a need to rethink our relationship with technology.

"Every swipe, headline, and notification are meticulously engineered to hook us," Vogels said.

More people are becoming conscientious of their screen time. Some are implementing rules for themselves or their children, and others are seeking out alternatives like "dumb phones" with no web browsers.

On the other hand, Delangue predicts that other consumers will buy into more futuristic devices, like the robots being developed by Tesla and other robotics companies.

"At least 100,000 personal AI robots will be pre-ordered," he said on LinkedIn.

Tariffs will bring about project cuts.

Donald Trump is weeks away from his second presidential inauguration, and the president-elect has already threatened tariffs on imported goods. It "feels like an inevitability," according to Michael Perica, CFO of software company Rimini Street.

LendingTree economist Jacob Channel previously told Business Insider that consumers will likely be subjected to higher prices for their goods during his term if Trump makes good on his pledge.

Companies may have to make some cuts to offset the effects of tariffs, Perica told the Journal. More businesses will have to adapt their strategies in anticipation of supply-chain disruptions.

"We are absolutely partnering with folks to help them along and take a look and evaluate what's a 'nice-to-have' project versus 'got to have,'" Perica said.

• Apple agreed to settle a Siri privacy lawsuit that alleged privacy violations.
• The plaintiffs said Siri recorded private conversations when unintentionally activated and shared them with third parties.
• Apple denied wrongdoing as the settlement awaits court approval.

Have you ever had a private conversation, glanced at your iPhone or Apple Watch, and realized Siri had been accidentally activated? You might be entitled to a small payout.

Apple agreed to a $95 million cash payout to settle a proposed class action lawsuit alleging privacy violations tied to the Siri voice assistant.

Plaintiffs said the alleged privacy violations took place over a 10-year period from September 2014 to December 31, beginning when Apple introduced the "Hey, Siri" voice activation feature.

The lawsuit alleges Apple recorded snippets of private and confidential conversations when Siri was unintentionally activated, which were then shared with third parties, such as human reviewers and advertisers.

The company has denied any wrongdoing as part of the settlement.

After The Guardian reported in 2019 that Apple contractors frequently overheard portions of private conversations while reviewing Siri recordings for quality control, Apple issued a rare apology and announced changes to how it graded user interactions with the voice assistant.

"As a result of our review, we realize we haven't been fully living up to our high ideals, and for that we apologize," the company said in 2019.

The class-action lawsuit was filed against Apple in the wake of The Guardian's report.

Eligible class members, estimated to be in the tens of millions, can receive up to $20 per Siri-enabled device, according to a preliminary settlement filed Tuesday in the US District Court for the Northern District of California.

The proposed settlement defines eligible class members as "all individual current or former owners or purchasers of a Siri Device, who reside in the United States and its territories." They also must be willing to declare under oath that Apple recorded their confidential conversations while Siri was inadvertently activated.

The size of each individual payout will fluctuate depending on how many eligible Siri-enabled devices they own and how many total claimants there are.

Under the proposed settlement, Apple would be required to publish a webpage to explain how users can opt-in to improve Siri and what information will be stored. Additionally, Apple would have to confirm that it has permanently deleted individual audio recordings from Siri collected before October 2019.

It's now up to US District Judge Jeffrey White to approve the settlement. Lawyer fees for the plaintiffs could cost Apple an additional $28.5 million and another $1.1 million for litigation expenses, according to the court documents.

Apple did not immediately respond to a request for comment by Business Insider.

Siri was first introduced in 2011 with the iPhone 4S. The tech giant is "entering a new era" of a more personal and conversational AI-powered Siri. With the help of OpenAI's ChatGPT, the revamped Siri can handle more complex requests.

The new Siri can use AI to have "on-screen awareness" and "personal context understanding," Craig Federighi, Apple's senior vice president of software engineering, during the "Glowtime" event in September 2024.

The overhauled Siri is expected to be rolled out in full next year.

• Apple is offering rare discounts on iPhones in China for the second year in a row.
• The company faces increased competition in China, where it missed earnings estimates last quarter.
• Huawei's strong sales and potential tariffs on Chinese goods challenge Apple's market position.

Amid increased competition in the smartphone market, Apple is offering customers in China a rare discount on its latest phones ahead of the Chinese New Year.

iPhone 16 Pro models will cost 500 Chinese yuan, or about $70, less, while regular iPhone 16 models will be discounted by 400 yuan. There are also discounts on the iPhone 14 and iPhone 15 models, according to Apple's website.

The promotion starts Saturday and will last until January 7. Apple offered a similar deal in China early last year amid reports of poor iPhone sales.

Competition in the smartphone market continued to heat up in 2024, and Apple missed analyst estimates in Greater China in its earnings report for the fiscal fourth quarter.

Among its competitors is local company Huawei, which sold 1.6 million handsets in six weeks after launching in 2023, according to market research firm Counterpoint Research.

Apple faces additional challenges in China in 2025 with President-elect Donald Trump threatening tariffs of up to 60% on Chinese goods. The company produces the majority of its most popular tech in China, and high tariffs could lead to retaliatory efforts by the Chinese government.

Apple Intelligence is the main selling point for the new iPhone 16, but the artificial intelligence tech isn't yet available in China, where regulations require foreign businesses to partner with Chinese-owned AI companies.

Apple is reportedly exploring deals with local companies, like Tencent and Bytedance, to bring their AI models to iPhones, Reuters reported.

There's another promotion running for regions outside of China: AppleTV+ will be free for to try out this weekend as the company attempts to attract more paying subscribers.

• Molly Rutter left her teaching job to pursue influencing in August.
• She's faced challenges online but says it's still easier than being overworked and underpaid.
• Now, she earns money through TikTok's creator program and customized videos for her followers.

This as-told-to essay is based on a conversation with Molly Rutter, a 32-year-old TikToker in Buffalo, NY. The following has been edited for length and clarity.

According to Glassdoor, the median pay for teachers at Rutter's former employer is $65,000. Rutter says she made significantly less than that.

If teaching paid me enough, I'd still be doing it. It's the best thing I've ever done as a career.

It's no secret that teachers make next to nothing, and no one goes into it for the money. But after five years and getting my master's in childhood education, I left teaching in August to pursue social media full time.

I started making TikTok videos as a side gig while working abroad in 2022 in the hopes of becoming a home decor influencer account. Over time, I found that people were really interested in me and my life.

I felt overworked as a teacher in the US

Once I realized the income potential, I applied to the creator program in 2023 and finally started making money from TikTok. That's when I started getting pulled in different ways for my career.

My content revolves around anything and everything about my life. I do vlogs, shopping hauls, sharing places I'm going out, sharing my travel experiences, and sharing my dating content.

I taught at a private school in Istanbul from 2020 until January 2024, when I returned to Buffalo. Although I've always struggled financially, I lived comfortably teaching abroad.

It was, by far, the highest quality of life I've ever lived. As a teacher in Buffalo, I was working myself to the bone.

If you love teaching, you'll still do it as long as you can afford rent. If you really want to do it, you can make it work.

I had a different story.

I had to choose

I taught third grade at a prestigious private school in Buffalo, and they were uncomfortable with my public platform on social media. Normally, teachers make everything private, but I had a few viral videos.

I completely stand by my content. I didn't swear online when I was a teacher; I never showed myself drinking. Yet my school still seemed to have a problem with it.

I was going through a roller coaster of feeling like I had a negative spotlight on something that was the only reason I was surviving in the States. I couldn't afford to pay my rent for the last three months I worked as a teacher.

I thought to myself: "No way do I have over $200,000 in student loan debt to work a job where I'm overworked, underpaid, and told I can't do something on the side that brings me financial security."

My job isn't stressful anymore

TikTok's creator rewards program pays out for every 1,000 qualified views. These views must come from the "For You" feed and only count if the viewer stays on your video for over five seconds.

That's what makes me the most money, but I also film custom Cameo videos for $10 to $20 and promote items from the TikTok Shop.

My job now is easy, and I've never made less than what I was making as a teacher. It fluctuates, but I've had months where I've made more than double what I was making as a teacher.

My most viral content so far has been my dating content, but I'm just sharing facets of my life online.

TikTok still has its challenges

People try to pressure me; they want me to fit in a certain box. I'm not dating for content. No way in hell am I going to go on a date every day.

The bigger I get online, the more people's perceptions of me become detached from who I actually am. It's almost like a caricature of Molly Rutter who exists online.

I don't subscribe to the identity that people are trying to force me into because that's not truly who I am.

The value that I've gained with my time and mental health is so significant — on top of the fact that I'm making more than I once was.

Teaching filled my soul, but I don't regret leaving.

• Apple is offering a free AppleTV+ trial from January 3 to January 5.
• AppleTV+ is known for original content like "Ted Lasso" and "The Morning Show."
• It's reportedly cutting back on spending for the streaming platform after investing billions.

Apple is offering a chance to try out AppleTV+ for free this weekend. That could help introduce people who would usually subscribe to other platforms to the streamer, which is still lagging in viewers versus competitors like Netflix.

The streaming platform will waive its $9.99 monthly fee for Apple users starting January 3 through January 5.

AppleTV+ has become known for its original productions, such as "Ted Lasso," "The Morning Show," and "Shrinking." However, it's costing them. For example, according to Bloomberg, Apple spent $20 million per episode on the new season of "Severance," which will premiere on January 17.

However, the tech giant is reportedly cutting back on spending after investing heavily in AppleTV+ since it launched the platform in 2019. It's spent $20 billion to produce original shows over the years, Bloomberg reported.

Now, it's giving Apple users an opportunity to test out the platform and potentially sign up for a paid subscription. The company's revenue for AppleTV+ is folded into its "services" earnings on quarterly and annual reports.

Apple lauded its services department for reaching an all-time high of $24 billion for its fiscal 2024 fourth quarter. While its subscription services, like AppleTV+ and Apple Music, may come to mind, they're not the main driver of services revenue.

A long-standing deal with Google to be the default search engine on iPhones and in-app purchases are the largest contributors to its services earnings.

Attracting more customers to AppleTV+ could help its services grow as Apple does some soul-searching to find its next big thing outside the iPhone.

A free weekend to binge season one of "Severance" has the potential to bring customers back to watch season two when it releases. However, according to Bloomberg earlier this year, AppleTV+ was attracting just 0.2% of TV viewing in the US. Whether a weekend of free content will help majorly move the dial is yet to be seen.

• Walmart has been offering a Birkin handbag dupe for under $100, sparking TikTok buzz.
• The Hermès Birkin, a luxury status symbol, starts at around $10,000 for the real thing.
• The "Walmart Birkin" raises questions about the accessibility and legality of similar-looking bags.

Attention, Walmart shoppers: You can own a lookalike of one of the most exclusive handbags in the world — and for less than $100.

The Hermès Birkin is coveted by many luxury shoppers, and the handmade bags start at around $10,000. The hefty price tag means it's available only to customers who have up to six figures to spare for a handbag (and who are savvy enough to get themselves in the queue).

However, TikTok is ablaze with users sharing a more affordable bag that looks like the Birkin and which is available for purchase online from Walmart.

The bags have been dubbed "Walmart Birkins" or "Wirkins," and they're providing shoppers with the look of luxury at a fraction of the cost. People have been calling the bag a dupe, a term used to describe an item that's similar in appearance to a more expensive product.

Their popularity has also opened up a larger conversation around access to styles that wealthy people are willing to pay tens of thousands of dollars to own.

On Thursday, TikToker Jessi My posted a video of her holding what looked like two Hermès Birkin bags. In the caption, My used the tags "#walmartbirkin" and "#walmart." Her video had eight million views as of Monday morning and thousands of comments from users praising how similar to the Birkin the "Walmès" bags look.

My said she purchased it on the same day she came across a video by a creator named Imani. In the video, Imani shows off a Birkin lookalike inside a Walmart store. Since her purchase, My told Business Insider that she uses her "Walmès" bags for travel, work, and trips to the grocery store.

"When I received it and saw how great the bag was, I figured others needed to hear about it," My said.

The Birkin bag is a status symbol for the wealthy, and has extensive waitlists and a tricky buying process. Walmart customers can skip the line and purchase a "Wirkin" for $78 from third-party sellers. However, some have questioned how legal it is to sell bags that look extremely similar to the Birkin. As an analysis by The Fashion Law notes, the appearance of Hermès Birkin is protected under trademark laws.

However, Hermès' argument could hinge on it being able to prove that customers could easily mistake a fake for the real thing.

Dasein, the listed seller of one of the Birkin lookalikes, did not immediately respond to a request for comment by BI. Hermès and Walmart also didn't immediately respond. Many of the bags are described as "genuine leather" in Dasein's listings.

Hermès' Birkin and Kelly bags are among the most likely luxury bags to be faked, Hunter Thompson, director of authentication and brand compliance at secondhand luxury retailer The RealReal, previously told BI.

The bags are selling out on Walmart's website — making the cheaper option more difficult to own. Meanwhile, the retailer has real pre-owned Birkins on its website retailing for over $24,000.

Although customers are getting the appearance of luxury, fashion experts say there are clear signs to tell a fake Birkin from a real one.

The zipper design and placement, the undertones of its iconic gold stamp, and even the smell are ways an authenticator can tell your purse is authentic, vintage expert Koyaana Redstar previously told BI.

Correction: December 30, 2024 — An earlier version of the story incorrectly described the Walmart-sold bags as counterfeit.

• Larry Ellison, the 80-year-old cofounder of Oracle, is one of the most interesting men in tech.
• Whether yacht racing, buying Hawaiian islands, or trash-talking competitors, he keeps it lively.
• Now, he's one of the world's richest people with a net worth of about $190 billion.

Larry Ellison is the founder and chief technology officer at software company Oracle. Now, he's also the world's fourth-richest man and has a net worth of $190 billion, according to the Bloomberg Billionaires Index.

The billionaire's fortunes have surged by over $67 billion this year, thanks to spiking demand for generative AI. The windfall puts him ahead of tech execs like Google cofounder Sergey Brin and former Microsoft chief executive Steve Ballmer. 

The 80-year-old started Oracle in 1977, and decades later he's still one of the top dogs in Silicon Valley despite living in Hawaii full time — and owning an entire island. Ellison has also been a major investor in Tesla, Salesforce, and even reportedly had a seat on Apple's board of directors for a while.

Outside the office, the billionaire boasts an impressive watch collection and indulges in hobbies like yacht racing. His children have made their own names in the film industry, and his son David Ellison is set to become the CEO of Paramount after its merger with his Skydance Media production company. Through some of Larry's entities, he will control Paramount, per a September filing.

Here's a look at the life and career of Ellison so far.

Lawrence Joseph Ellison was born in the Bronx on August 17, 1944, the son of a single mother named Florence Spellman.

When he was 9 months old, Larry came down with pneumonia, Vanity Fair reported. His mom sent him to Chicago to live with his aunt and uncle, Lillian and Louis Ellison.

Vanity Fair reported that Louis, his adoptive father, was a Russian immigrant who took the name "Ellison" in tribute to the place in which he entered the US: Ellis Island.

Ellison is a college dropout.

Ellison went to high school in Chicago's South Side before attending the University of Illinois at Urbana-Champaign. When his adoptive mother died during his second year at college, Ellison dropped out. He tried college again later at the University of Chicago but dropped out again after only one semester, Vanity Fair reported.

In 1966, a 22-year-old Ellison moved to Berkeley, California — near what would become Silicon Valley and already the place where the tech industry was taking off.

He made the trip from Chicago to California in a flashy turquoise Thunderbird that he thought would make an impression in his new life, Vanity Fair reported.

Ellison bounced around from job to job, including stints at companies like Wells Fargo and the mainframe manufacturer Amdahl. Along the way, he learned computer and programming skills.

In 1977, Ellison and partners Bob Miner and Ed Oates founded a new company, Software Development Laboratories.

The company started with $2,000 of funding.

Ellison and company were inspired by IBM computer scientist Edgar F. Codd's theories for a so-called relational database — a way for computer systems to store and access information, Britannican said. Nowadays, they're taken for granted, but in the '70s, they were a revolutionary idea.

The first version of the Oracle database was version 2 — there was no version 1.

In 1979, the company renamed itself Relational Software Inc., and in 1982, it formally became Oracle Systems Corp., after its flagship product.

In 1986, Oracle had its initial public offering, reporting revenue of $55 million.

As one of the key drivers of the growing computer industry, Oracle grew fast. The company is responsible for providing the databases in which businesses track information that is crucial to their operations.

Ellison became a billionaire at age 49. Now, he has a net worth of roughly $152 billion, according to Forbes, after racking up $50 billion in gains thanks to Oracle and Tesla stock. That makes him the seventh-richest person in the world.

Still, in 1990, Oracle had to lay off 10% of its workforce, about 400 people, because of what Ellison later described as "an incredible business mistake."

Oracle reported a loss of $36 million in September 1990 after admitting that it had miscalculated its revenue earlier that year, The New York Times reported.

It didn't get the decade off to a great start. After adjusting for that error, Oracle was said to be close to bankruptcy. At the same time, rivals like Sybase were eating away at Oracle's market share.

It took a few years, but by 1992, Ellison and Oracle managed to right the course with new employees and the popular Oracle7 database.

Ellison is known for his willingness to trash-talk competitors.

For much of the '90s, he and Oracle were locked in a public-relations battle with the competitor Informix, which went so far as to place a "Dinosaur Crossing" billboard outside Oracle's Silicon Valley offices at one point, Fortune reported in 1997.

His financial success has led to some expensive hobbies.

With Ellison as Oracle's major shareholder, his millions kept rolling in. He started to indulge in some expensive hobbies — including yacht racing. That's Ellison at the helm during a 1995 race.

He also partly financed the BMW Oracle USA sailing team, which won the America's Cup in 2010, according to Bloomberg.

Ellison was an early investor in Salesforce.

In 1999, Ellison's protégé, Marc Benioff, left Oracle to work on a new startup called Salesforce.com. Ellison was an early investor, putting $2 million into his friend's new venture.

When Benioff found out that Ellison had Oracle working on a direct competitor to Salesforce's product, he tried to force his mentor to quit Salesforce's board. Instead, Ellison forced Benioff to fire him — meaning Ellison kept his shares in Salesforce.

Given that Salesforce is now a $267 billion company, Ellison personally profits even when his competitors do well. It has led to a love-hate relationship between the two executives that continues to this day, with the two taking shots at each other in the press.

The dot-com boom of the late '90s benefited Oracle.

All of those new dot-com companies needed databases, and Oracle was there to sell them. Although investors lost out in the dot-com crash, Oracle came out of it stronger due to its acquisitions and the demand for software solutions.

With the coffers overflowing, Ellison was able to lead Oracle through a spending spree once the dot-com boom was over and prices were low.

In 2005, for example, Oracle snapped up the HR software provider PeopleSoft for $10.3 billion.

And in 2010, Oracle completed its acquisition of Sun Microsystems, a server company that started at about the same time as Oracle, in 1982. That acquisition gave Oracle lots of key technology, including control over the popular MySQL database.

Ellison has also spent lavishly over the years, so much so that his accountant, Philip Simon, once asked him to "budget and plan," according to Bloomberg.

Ellison has expensive taste. Over the years he's built up an impressive collection of Richard Mille watches, an expert previously told BI. The timepieces start in the six-figure range and can go for over $1 million in some cases.

In 2009, the billionaire purchased the Indian Wells tennis tournament for a reported $100 million, The Los Angeles Times reported.

In 2010, Ellison signed the Giving Pledge.

By signing the pledge, Ellison promised to donate 95% of his fortune before he dies. And in May 2016, Ellison donated $200 million to a cancer treatment center at the University of Southern California, Forbes reported.

Starting in the 2010s, Ellison started to take more of a back seat at Oracle, handing more responsibilities to trusted lieutenants, like Mark Hurd and Safra Catz, then Oracle's copresidents.

Ellison hired Hurd, a former CEO of HP, in 2010, Inc reported. Catz has made a reputation for herself among analysts for what they describe as brilliant business strategy.

But Ellison's spending didn't slow down. In 2012, he bought 98% of the Hawaiian island of Lanai.

Ellison founded a startup called Sensei in 2016 that does hydroponic farming and owns a wellness retreat on Lanai.

He also purchased Hawaiian budget airline Island Air in 2014, before selling a controlling interest in the airline two years later after it struggled financially.

In 2014, Ellison officially stepped down as Oracle CEO.

Ellison handed control over to Hurd and Catz, who became co-CEOs. Ellison now serves as the company's chairman and chief technology officer. Following Hurd's death in 2019, Catz became the sole CEO.

In 2016, Ellison scored a personal coup: the purchase of NetSuite.

Back in 1998, Ellison had made a $125 million investment in ex-Oracle exec Evan Goldberg's startup business-management software firm, NetSuite. It ended up working out well for Ellison when NetSuite CEO Zach Nelson negotiated the sale of the company to Oracle for $9.3 billion, netting Ellison a cool $3.5 billion in cash for his stake.

NetSuite investor T. Rowe Price tried to block the deal, citing Ellison's conflict of interest, but the sale closed in November 2016.

He's used his billions in a variety of ways: he invested in educational platform maker Leapfrog Enterprises and was an early investor in the ill-fated blood-testing company Theranos.

Ellison has held shares in some of the most recognizable companies, one of which was the infamous blood-testing company Theranos, founded by Elizabeth Holmes. It had a promising future until its flaws were exposed and Holmes received a prison sentence.

When Steve Jobs returned to Apple as CEO back in 1997, he asked Ellison to sit on the board. Ellison served for a while, but felt that he couldn't devote the time and left in 2002, according to Forbes. Compensation for his role was an option to buy about 70,000 shares, which would've amounted to about $1 million at the time of his departure.

Ellison owns homes on the East and West coasts as part of a multibillion-dollar real-estate portfolio.

Ellison reportedly owns the Astor Beechwood Mansion in Newport, Rhode Island, and a home in Malibu. Ellison also has houses in Palm Beach, Florida and more in a multibillion-dollar real-estate portfolio.

Both of his two children work in the film industry.

His daughter, Megan, is an Oscar-nominated film producer and the founder of Annapurna Pictures. The company has produced films like "Zero Dark Thirty" and "American Hustle."

Ellison's son, David, is also in the film business. His company, Skydance Media, has produced movies like "Terminator: Dark Fate" and films in the "Mission: Impossible" franchise.

After months of discussions in 2024, Skydance Media and Paramount agreed to a deal, creating "New Paramount," which David will be CEO of. He has plans to "improve profitability, foster stability and independence for creators, and enable more investment in faster growing digital platforms," the companies said.

Ellison was one of the few tech leaders who had a friendly relationship with former President Donald Trump.

Ellison said publicly that he supported Trump and wants him to do well, and hosted a Trump fundraiser at his Rancho Mirage home in February, though he did not attend, Forbes reported. The fundraiser caused an outcry among Oracle employees, who started a petition asking senior Oracle leadership to stand up to Ellison.

Catz, the CEO of Oracle, also had close ties to the Trump administration, having served on Trump's transition team. 

Ellison and Trump remained close during Trump's time in office and reportedly spoke on the phone about possible coronavirus treatments. Trump also supported Oracle's bid to buy TikTok, calling Oracle a "great company."

In December 2018, Ellison joined the board of directors at Tesla, where he's been a major investor.

Earlier in 2018, Ellison described Tesla CEO Elon Musk as a "close friend," and defended him from critics. When Musk acquired Twitter — now X — in 2022, Ellison offered to invest $1 billion.

Musk went on to help Ellison reset his forgotten password, biographer Walter Isaacson wrote.

In December 2020, Ellison revealed that he moved to Lanai full-time.

The announcement came after Oracle decided to move its headquarters to Austin, leading Oracle employees to ask Ellison if he planned to move to Texas too.

"The answer is no," Ellison wrote in a company-wide email. "I've moved to the state of Hawaii and I'll be using the power of Zoom to work from the island of Lanai."

He signed the email: "Mahalo, Larry."

He left Tesla's board in August 2022.

In a proxy filing in June 2022, the electric vehicle maker revealed that Ellison would be leaving the board. Since then, he and Musk have appeared to maintain their close relationship.

Oracle had a record-breaking 2023, and cemented itself in the new age of artificial intelligence.

Oracle's shares continued to hit records, CNBC reported. The company proved that it's not going any where any time soon.

In 2023, Oracle backed OpenAI rival Cohere.

Oracle joined other tech giants, like Salesforce, in backing the tech startup in June 2023. It began offering generative AI to its clients based on tech made by Cohere.

"Cohere and Oracle are working together to make it very, very easy for enterprise customers to train their own specialized large language models while protecting the privacy of their training data," Ellison previously said.

Oracle announced in April that it would be moving its headquarters to Nashville, Tennessee.

Despite its big move to Austin only four years ago, Ellison said that Oracle is planning to move its world headquarters to Nashville, Tennessee.

In April 2024, the exec announced that Oracle has plans for a "huge campus" in Nashville that will one day serve as the software giant's world headquarters. The company relocated from the San Francisco area to Austin, Texas in 2020.

"It's the center of the industry we're most concerned about, which is the healthcare industry," Ellison said at the Oracle Health Summit in Nashville, CNBC reported.

Ellison's wealth jumped $14 billion after record earnings from Oracle.

Oracle's cloud applications business saw its shares spike by 13% in June 2024 after the company posted strong annual earnings due to demand for generative AI, Fortune reported. Ellison, who now serves as Oracle's CTO and owns about 40% of the company's cloud sector, got a $14 billion boost to his fortune.

The company also announced a partnership with AI startup Cohere, enabling its enterprise customers to build their own generative AI apps. "Cohere and Oracle are working together to make it very, very easy for enterprise customers to train their own specialized large language models while protecting the privacy of their training data," Ellison said during the company's earnings call.

Ellison to control Paramount as its majority shareholder

Ellison is set to become the controlling shareholder of Paramount following its merger with Skydance Media, a company founded by his son, David Ellison.

Pinnacle Media, Larry Ellison's investment firm, will acquire 77.5% of the voting interest currently held by Shari Redstone, according to a filing with the Federal Communications Commission. This move effectively transfers control of Paramount from Redstone to Ellison.

While David Ellison has been named Paramount's new CEO and may retain some autonomy in the role, the FCC filing reveals that his father will hold ultimate authority as the primary shareholder and will likely retain significant decision-making power, Brian Quinn, a Boston College Law School professor, told the New York Times.

The deal, valued at $8 billion, includes major assets like CBS and MTV. RedBird Capital Partners, a private-equity firm backing Skydance, will acquire some voting rights, but Larry Ellison will retain the largest stake. He plays a sizable role in the entertainment industry, including cameos in movies such as "Iron Man 2" and through the financial backing of his children's ventures, including his daughter Megan Ellison's Annapurna Pictures. 

Matt Weinberger and Taylor Nicole Rogers contributed to an earlier version of this story.

Correction: May 7, 2024 — An earlier version of this story misstated Larry Ellison's role at Oracle. He's the chief technology officer, not the CEO.

Ellison has a reputation as an international, jet-setting playboy.

Ellison has been divorced four times. The 80-year-old billionaire is now reportedly remarried to a 33-year-old named Keren Zhu, The Wall Street Journal reported in December.

 

Ellison gave a donation to the University of Michigan's football team and helped secure the top high school quarterback in the country

The University of Michigan football team flipped Bryce Underwood, the top high school quarterback in the country, from Louisiana State, thanks to a donation and support from Ellison, according to WSJ. While Ellison had no previously known connection to the school, his wife Zhu is an alum. Both Ellison and Zhu showed up in a Zoom call with Underwood and Michigan football's general manager to help recruit him, the report said. 

Oracle shares are up 60% year-to-date, increasing Ellison's net worth by $67.3 billion

Despite an 8% decline in Oracle's stock this month following a weaker-than-expected earnings report, the company's shares are still at some of their highest levels since the 1990s, boosted by cloud partnerships with Google, OpenAI, and Meta.

Ellison's net worth has increased by $67.3 billion this year, bringing his net worth to about $190 billion as of Monday, according to Bloomberg's Billionaires Index.

• Apple plans to expand in generative AI and reportedly launch more hardware products in 2025.
• Apple Intelligence software is still expected to drive a super cycle in iPhone sales.
• It faces competition in mixed reality and potential tariffs affecting Chinese sales and production.

Timing is everything for Apple going into 2025.

Apple's stage is set for the new year, with big plans for expansion in generative AI, reports of a home device lineup launching soon, and talks of a more affordable iPhone in the pipeline.

The "biggest story" for 2025 will be the impact of the new Apple Intelligence software on iPhone sales, Gene Munster, managing partner at Deepwater Asset Management, said. Apple was criticized for being late to the game when it came to introducing its own generative AI, but the hype around Apple Intelligence has some expecting a "super cycle."

And iPhone sales will have "more aggressive expectations" in 2025 after analysts adjusted their hype around iPhone 16 demand in the final months of 2024, William Kerwin, tech analyst at Morningstar, said.

"We expect Apple will ship more than 240 million iPhones in 2025, breaking its annual record," Wedbush Securities analysts wrote in their 2025 tech wish list.

To do that, though, Munster says Apple will have to figure out how to get Apple Intelligence onto all eligible iPhones. In Greater China, it will have to partner with a local tech company and adhere to the rules to bring AI to Chinese iPhones.

It's a move that Apple is discussing with Tencent and ByteDance, according to Reuters. Apple Intelligence will roll out to iPhone users in the European Union in April, Apple said on its website.

Meanwhile, its competition isn't slowing down. There's pressure to produce "more affordable mixed reality devices while maintaining its slim smartphone market share lead over Samsung," Jacob Bourne, tech analyst at Business Insider sister company EMARKETER, said.

Outside the iPhone, the $3,500 Apple Vision Pro launched to great fanfare but faced low demand in 2024. Meanwhile, Meta saw its (cheaper) AI-powered smart Ray-Ban glasses gain popularity.

Munster predicts that Apple will ditch the Vision Pro in favor of a form factor more like smart glasses.

Then there's the pressure in China — a key region for sales and production for Apple. Donald Trump will be sworn in as president in January, and he's been threatening a 60% tariff on Chinese goods.

The company reportedly relies on China for production of 95% of its iPhones, AirPods, Macs, and iPads. If Trump makes good on his tariff promise, Apple could face retaliatory levies affecting its sales in the country.

Apple's legal battles will continue into 2025. The federal judge presiding over its antitrust lawsuit from the US Department of Justice said he hopes to decide whether or not the case will go to trial by January, Bloomberg reported.

Apple didn't immediately respond to a request for comment by Business Insider.

The tech giant has had an eventful 2024, including its new iPhone launches and the introduction of AI. There are further reports of tech devices that could come out in 2025, including smart home products and a cheaper iPhone. Bloomberg reported that a new version of the iPhone SE could be released in 2025, bringing Apple Intelligence to a more affordable smartphone than the iPhone 16.

Bloomberg reported in November that there's a wall-mounted smart home tablet in Apple's production lineup that could use Apple Intelligence, operate home appliances, and access Apple apps. It could be announced as early as March, according to the report.

Expectations are high for Apple in 2025. It made smart moves by partnering with OpenAI and bringing its own AI on iPhones, but analysts say the true payoff of its bets in 2024 is still to come.

"Apple needs to carefully time — and price — new products and features to align with consumer demand rather than just technological capability," EMARKETER's Bourne said.

• BNY CEO Robin Vince said the bank is currently in a "recharge period" until 2025.
• Employees at the finance giant are encouraged to focus on "core business activities." 
• The move is part of a larger push by the bank to provide mental health support to its workers.

The CEO of Bank of New York Mellon Corp. says it's OK to be more laid back at work during the last weeks of the year.

Robin Vince, who also serves as president of BNY, announced Monday that the bank is bringing back its end-of-year "recharge" period for its employees.

Beginning December 23, a spokesperson told Business Insider that BNY employees are encouraged to narrow their focus to client and core business activities, postponing more routine items until the New Year.

Non-essential activities, like internal meetings, work that isn't time-sensitive, and in-office requirements, will be paused until January 3, they told BI.

In a LinkedIn post, Vance said he's "missing the free Starbucks at our global HQ, but it's worth it to be able to spend more time with my family, all home together, while taking a break from the more routine work to really focus on what matters for clients and driving our company forward these next two weeks."

Vince told Fortune in June that BNY asks employees to be in the office "more days than you're not." BNY first introduced its two-week recharge in December 2023 to allow employees more time to focus on family than non-urgent work tasks.

It's part of a larger push by the bank to improve compensation and benefits for its employees. BNY announced Thursday that it'd increase the minimum hourly wage for US employees from $22.50 to $25, starting March 2025.

This year the company also partnered with Spring Health to bring more mental health services to employees and their families.

"We want talent to feel appropriately compensated and enjoy an industry-leading employee experience — and benefits are a part of that strategy," said Shannon Hobbs, chief people officer at BNY.

• Apple is exploring new headsets and smart-home devices to expand its lineup.
• Its plans don't always work out; it scrapped a car project and faces weak demand for the Vision Pro.
• Apple's future profits depend on the success of devices other than the iPhone.

Apple's possible future product lineup suggests the giant is entering a new era.

Many devices are reportedly in the works at the tech giant, and many of them are very different from its golden child, the iPhone. Apple followers including the Bloomberg reporter Mark Gurman and the Taiwan-based supply-chain analyst Ming-Chi Kuo have said it's exploring new headsets, smart-home devices, and more.

The tech industry has long speculated about Apple's next big thing. The answer may lie in the slate that people have been reporting on for the past several months.

Creating a hit product isn't easy. The company in February scrapped plans for a car, and its $3,500 Vision Pro has gotten mixed reviews in the months since its release. On November 10, Gurman said Apple was focusing on smaller wins that could generate revenue on the same level as its iPads or wearable tech.

That requires Apple to tiptoe into new territory where competitors may already be making strides.

Bloomberg, also in November, reported on a wall-mounted smart-home tablet in Apple's production lineup that could operate home appliances, use Apple Intelligence, and access Apple apps.

The report said the project, code-named J490, could come as early as March, a month before new Apple Intelligence features are expected to roll out.

Though smart-home tech isn't a cash cow for Big Tech, another futuristic smart-home device is said to be on Apple's radar: a tabletop robot with an iPad-like display and a robotic arm.

Analysts from Morningstar, Deepwater Asset Management, and EMARKETER were skeptical about the device's profitability — or the probability of its existence — when Business Insider asked them about it in August.

Apple is also reportedly developing a smart lock and doorbell system, Bloomberg reported on Sunday. The device would allow a person to open their home's door by scanning their face, the report said. It's unclear whether the doorbell system would work with existing third-party locks or if the company would partner with a lock maker.

The technology could certainly introduce competition to Amazon's Ring and Google Nest. However, the report said it's unlikely the product would launch until the end of 2025 at the earliest.

Meanwhile, Kuo, known for his often accurate Apple product predictions, said in early November that the tech giant had delayed production of a cheaper Vision Pro to "beyond 2027" and would move ahead with a Vision Pro with its M5 processor and Apple Intelligence for 2025.

In the wearables category, Apple is said to be exploring AR glasses — perhaps inspired by the prototype Orion glasses Meta showed off in September — though they're far from production stages. The Morningstar analyst William Kerwin previously suggested that smart glasses are likely Apple's ultimate eyewear goal.

CEO Tim Cook, who's been in the role for 13 years, is guiding the company into a new future. The next line of products Apple launches could solidify his legacy.

• Amazon drivers can earn up to an extra $25,000 for the holidays if you thank them for a delivery.
• The company has brought back its "Thank my driver" feature after first launching it in 2022.
• Amazon covered a limited amount of $5 thank-yous at no cost to customers.

Amazon brought back its promotion that'll allow you to thank your delivery driver this holiday season.

If you're pleased with your ride, you can participate by typing "Thank my Driver" into the search bar of your Amazon app or asking Alexa to "thank my driver." You'll have to thank them within 14 days of your last delivery.

It's already got a lot of traction in 2024.

The "Thank My Driver" promotion began on December 4 this year, and Amazon tipped drivers $5 for the first 2 million thank-yous from US customers.

Amazon hit the 2-million limit within six days. However, there are still ways to help your delivery person earn extra cash.

Similar to 2023, the company is offering "additional awards" for drivers who receive praise for their deliveries, according to a press release from Amazon.

Here's what Amazon is offering: "$100 each for the 1,000 most-thanked drivers each day through the rest of December; $10,000 for the seven top-thanked drivers each week until the end of December."

Meanwhile, the seven most-thanked Amazon drivers from December 4 to December 31 will receive $25,000 plus an extra $25,000 to be donated to the charity of their choice.

"Treat your customers like family, and they will do the same to you," driver Andrew Shearouse, one of the 2023 recipients of the $25,000 tip, said.

Only US-based drivers are eligible, and they must be an Amazon Flex partner, drive for a delivery service partner, or be a hub delivery associate. A delivery driver can only be thanked once per delivery. Amazon package deliveries from the Post Office and companies like UPS aren't eligible for the extra rewards.

Those looking for other ways to thank their delivery people can check TikTok, where creators are posting about the care packages they leave on their doorstep — especially during the busy holiday delivery season.

During the holiday season, Amazon drivers' shifts can be as long as 10 hours — and a serious workout. There are some Amazon drivers who earn $18 an hour compared to full-time UPS drivers who earn an average total compensation package of $145,000 per year, according to UPS.

In September, Amazon announced that it will spend $2.1 billion to give its delivery drivers a pay raise. Although the exact rate depends on location, the boost may bump drivers' pay to a national average of $22 an hour.

• Apple launched new products in 2024, including the Vision Pro and AI-powered iPhone 16.
• It faced challenges in China with iPhone sales and antitrust issues in the US and Europe.
• Apple also introduced Apple Intelligence at WWDC, marking its entry into the GenAI market.

It's been an eventful year for Apple.

The tech giant launched a brand new hardware product, made its official entrance into generative artificial intelligence, and added a new iPhone generation — all in the span of 12 months.

It's also faced questions about CEO succession, challenges in one of its largest markets, and criticism about being behind in the AI arms race compared to some of the industry's fiercest players. Meantime, it's been under antitrust scrutiny from both US and EU authorities.

"2024 has been a year of notable highs and lows for Apple as it expanded into mixed reality and AI while navigating shifting consumer preferences and market dynamics," Jacob Bourne, tech analyst at Business Insider's sister company EMARKETER, said.

Apple got off to a rocky start this year. Its stock got two analyst downgrades in early January, with bankers citing worries about poor iPhone sales in China. Still, it celebrated wins in the services department of its business and partnered with OpenAI to bring ChatGPT to new iPhones. It explored new territory with the Apple Vision Pro and upgraded company staples, including iPads and AirPods.

Here's a look back at Apple's 2024.

There was trouble in China

Apple started 2024 with struggles in its important Greater China region — a trend that continued. Analysts called sales of the iPhone 15 in China "lackluster" as competitors like Huawei and Xiaomi stepped up their competition in the local smartphone market.

It showed throughout Apple's earnings in 2024. Although the company beat revenue estimates in its fiscal fourth-quarter, sales in China missed and dropped year over year.

Still, Apple CEO Tim Cook said there are "positive signs" in the region during the fiscal Q4 earnings call on October 31. Cook took frequent trips to China this year — at least three times, as of November — amid fears that Donald Trump's potential tariffs will affect the country that makes a majority of Apple's iPhones, AirPods, Macs, and iPads.

"China's just been a disappointment in '24, full stop," Gene Munster, managing partner at Deepwater Asset Management, said.

Apple launched the Vision Pro in February

Apple launched its first headset, the Vision Pro, in February. The mixed reality device retails for $3,500, making it one of Apple's priciest products to date.

The headset was met with mixed reactions. Its uses are limited, and it was unclear if the tech was for gamers or professionals. Months after it released, Cook told The Wall Street Journal that the Vision Pro is for "people who want to have tomorrow's technology today."

"At $3,500, it's not a mass-market product," Cook said. "Right now, it's an early-adopter product."

Apple is reportedly slowing down its Vision Pro production and is instead eyeing a more affordable version of the headset.

It was hit with a DOJ lawsuit in March

The US Department of Justice accused Apple of maintaining an illegal monopoly on the smartphone market in an antitrust lawsuit. The DOJ alleged the iPhone maker was involved in "delaying, degrading, or outright blocking" rival technology. Apple denied the allegations.

The suit said the company "repeatedly responded" to competitive threats by "making it harder or more expensive for its users and developers to leave than by making it more attractive for them to stay."

Apple asked a federal judge to dismiss the lawsuit in August, saying the government's argument includes speculation. US District Court Judge Julien Xavier Neals will have to decide whether or not the case will go to trial.

Neals' decision could come as early as January, Bloomberg reported.

Meanwhile, in Europe, Apple was fined about $2 billion related to its App Store and was subject to other competition concerns in the region.

Apple rolled out new iPads

As OpenAI, Google, and others announced updates and demonstrated the power of their new AI assistants, Apple introduced new iPads in May.

The latest iPad Pro models are the first to have OLED display; Cook and Co. unveiled them at Apple's "Let Loose" event. Cook said it was "the biggest day for iPad since its introduction."

Although the launch came as Apple watchers waited for a bigger AI announcement, iPads performed well for Apple in Q3.

Apple Intelligence was finally introduced at WWDC

The world was introduced to Apple Intelligence at the annual Worldwide Developers Conference in June.

Apple's official debut into the AI wars, which have escalated since OpenAI launched ChatGPT in 2022, was the "biggest story" of the year, William Kerwin, a technology analyst at Morningstar, said.

The hype around Apple Intelligence was instant. Dan Ives, global head of technology research at Wedbush Securities, said it would usher in a "golden upgrade cycle" for iPhones. Apple said it'd be a big part of the iOS 18 software update too, though Apple Intelligence is only available on iPhone 15 Pro models or later.

The company made some lofty promises at WWDC, and plans to deliver on them after the initial rollout in October and through 2025, although not all the features touted have launched yet. So far, US iPhone users have gotten access to "Writing Tools," AI-generated emojis, and ChatGPT through Siri. The company had been criticized for its late entry to the AI scene.

"They caught up by partnering and by adding AI to something only Apple can do," Munster said.

Meanwhile, the company is reportedly exploring ways it can bring Apple Intelligence to Chinese iPhone owners. Apple will have to partner with a local company if it wants to deliver AI to its most important international market.

The first AI iPhone launched

Apple announced its first iPhone "built from the ground up to deliver Apple Intelligence" at its "Glowtime" event in September.

The company faced slowing iPhone sales in the quarters leading up to the launch; the new AI-enabled iPhone 16 was expected by some to be the boost it needed. It released without Apple Intelligence, though that was made available through a later iOS update. It did come with a new camera control button and some software updates.

The phones start at $999 for the iPhone 16 Pro and $1,199 for the Pro Max model. Although a golden upgrade cycle hasn't happened yet, analysts still have high expectations for the next year of iPhones.

"We believe iPhone 16 has kicked off a multi-year supercycle for Apple as the AI Revolution comes to the consumer," Ives said in an analyst note.

It scrapped some projects along the way

Among the new launches in 2024, Apple also axed some ideas that were said to be in the pipeline.

Bloomberg reported in December that Apple would no longer work on building a subscription service for iPhones. The team working to make iPhone ownership possible through monthly fees and annual upgrades was reassigned to other projects, according to the article.

The tech giant also shut down its buy now, pay later service, Apple Pay Later, in June, instead partnering with Klarna to bring its offering to Apple Pay, The Verge reported.

In April, Apple filed documents outlining that it planned to cut more than 600 employees working on projects related to screens and its electric car. Before that, the company reportedly told 2,000 employees that it would wind down its multi-year efforts to make an electric car.

Still, canceling the Apple Car to reassign talent to its Apple Intelligence efforts was part of a "one-two combo" that helped the company catch up in AI, Munster said.

• Reid Hoffman discussed on "Diary of a CEO" the lack of work-life balance in startup culture.
• He said startups needed to be intense and competitive to achieve success.
• Sacrifices that come with startup work include dinner at the office and working on the weekends.

Reid Hoffman got real about the lack of work-life balance when you're trying to build a company.

The LinkedIn cofounder said during an episode of the "Diary of a CEO" podcast that startup employees shouldn't expect that if they want their business to take off.

"Work-life balance is not the startup game," Hoffman said.

Before it became a large platform for professionals, LinkedIn was a startup. Hoffman said early employees with families were allowed to spend time at home — with the expectation that they'd also be getting work done.

"The people who think it's toxic don't understand the toughness of the startup game, and they're just wrong," Hoffman said.

The nature of building budding companies is intense, he said, and that intensity is necessary at any startup if its workers want it to be a success. That often means working on Saturday mornings and sacrificing time for a personal life.

"We served dinner at the office at PayPal, and that was a deliberate thing," Hoffman, who was a part of the company during its early days, said.

He added that there were only two instances when startup employees could balance their lives and work more evenly: a supersmall startup that doesn't have much competition or a startup where employees have worked hard enough to outpace competitors by a long distance.

Recently, business leaders such as Airbnb CEO Brian Chesky have popularized the term "founder mode" to describe being a present and detail-oriented leader. Chesky previously said that founders go wrong by letting go of their product and delegating tasks instead of getting into the details of their company.

Startup culture may sound toxic, but it's a choice, Hoffman said. He compared it to training to become an elite athlete — swimming only two hours a day probably won't lead you to an Olympic team.

"Choose what your life's about," he said. "No one says you have to do that."

• Value meals at Chili's have boosted the restaurant chain's sales lately.
• Chili's chief marketing officer says the deals aren't leaving the menu anytime soon.
• Competitors like McDonald's and Wendy's also offer value meals amid inflation challenges.

Appetizers and value meals are bringing customers to their local Chili's Grill & Bar in droves — and they're not leaving the menu anytime soon.

Deals like the Triple Dipper and the 3 for Me combo, both of which allow customers to get sit-down meals for under $20, have helped Chili's parent company, Brinker International, beat quarterly expectations recently. Same-store sales grew nearly 15% at Chili's during the company's latest quarter, which ended in September.

Those affordable deals are standing parts of the restaurant's menu, not temporary offers, George Felix, chief marketing officer at Chili's, said.

While some restaurant chains are "scrambling to throw a low-priced offer out there and try and compete," the 3 for Me deal "is something we believe in," Felix told Business Insider.

3 for Me offers diners a starter, an entrée, and a drink for as little as $10.99. Chili's has offered the combo for about two years, and it added a smash burger as an entrée option in April — a move the company said took "aim at fast food" at the time.

Other restaurant chains have ramped up deals this year to attract customers, including many whose budgets have been stretched by inflation, back to their dining rooms. McDonald's, for instance, is planning to launch a new value menu in 2025 after extending a limited-time $5 meal this year. Burger King and Wendy's have also offered their own value meals.

Meanwhile, Red Lobster discontinued its $20 endless shrimp deal, which was meant to be a permanent menu item, and ultimately blamed the promotion for an $11 million loss in Q3 2023.

For Chili's, offering food options that range from less than $11 to over $30 allows diners to choose what sort of experience they have, Felix said.

"We believe value is not about the lowest price point," Felix said. "We believe value is what you get for what you pay."

The Triple Dipper is an appetizer sampler that's been having a viral moment on social media recently.

Many Chili's customers who come in for such deals return and order higher-priced items, such as a margarita, which can cost as much — or more — than some of Chili's value meals, Felix said.

"You bring them in with the Triple Dipper, but then they come back again and it's the Don Julio margarita — they treat themselves," Felix told BI. (That margarita cost $12 when ordered for pickup in New York on Tuesday.)

It shows that even diners looking for good deals will splurge, CEO Kevin Hochman said on Chili's October earnings call. "The price-quality equation is critical for this guest," Hochman said.

Are you a Chili's customer or worker with a story idea to share? Reach out to these reporters at [email protected] and [email protected]

• Temu tops 2024 Apple App Store downloads, surpassing TikTok and ChatGPT in popularity.
• The Chinese e-commerce app offers big discounts on a wide range of products.
• Americans appear to be exploring budget-friendly options through in-app deals.

The App Store favorites of 2024 include social media platforms and one popular AI assistant, but the most downloaded app of the year was Temu.

The Chinese-owned e-commerce app was downloaded more times this year than TikTok, Threads, or ChatGPT, according to Apple. It's become known for big discounts on various products, from tech gadgets to apparel.

Temu, owned by PDD Holdings, is particularly popular among Gen Z consumers in the US. Gen Zers between 18 and 24 downloaded it 42 million times during the first 10 months of 2024, according to the app analytics firm Appfigures, which pulled data from iOS and Android users.

The e-commerce giant launched in the US in 2022 and has had a meteoric rise since then. PDD Holdings' third-quarter sales grew 44% to $14.2 billion from the same period in 2023, according to exchange rates on September 30.

It has invested millions to market to American shoppers. Three Temu ads aired during the Super Bowl, where one 30-second clip during the highly-viewed game can cost $7 million.

With Donald Trump threatening high tariffs on Chinese goods, Temu's popularity could be at risk if it resorts to raising prices to offset a possible 60% levy on its products.

Apps from retailers Amazon, Shein, and McDonald's also made the Apple App Store's top 20 most-downloaded list this year — indicating that consumers were on the hunt for a deal across categories.

McDonald's has found success in using targeted in-app promotions to build loyalty among its customers.

The chain's head of US restaurants said earlier this year that loyalty customers visit 15% more often and spend nearly twice as much as non-loyalty customers, with loyalty platform sales expected to hit $45 billion by 2027.

Amazon, for its part, has sought to capitalize on Temu and Shein's low-price appeal with a new Haul section, which is also an app-only shopping experience.

As former Starbucks CEO Laxman Narasimhan was fond of saying, "The best offers are in the app."

• Americans should send packages early to meet holiday shipping deadlines and avoid delays.
• UPS hires thousands of seasonal workers to manage increased holiday shipping demand.
• Here are FedEx, USPS, and UPS' specific deadlines for Christmas delivery.

The holiday season is here, and while delivery drivers work hard to ensure parcels reach their destinations on time, gift-givers can help by sending them before the shipping deadlines.

With Christmas less than two weeks off, there are mere days left to mail gifts to your loved ones. Carriers prep for the busy holiday time by hiring seasonal employees to assist drivers or deliver packages themselves.

In 2023, UPS said it'd hire 100,000 seasonal workers for the busy holiday season; this year, they said they're hiring more than 125,000. Although many carriers' deadlines allow for last-minute shipments — 48 hours before December 25 — it's best practice to get your gift shipped off as early as possible.

Here's when three big mail carriers say you need to ship your gifts by.

FedEx

There were five fewer shopping days between Thanksgiving and Christmas this year, FedEx Executive Vice President and Chief Customer Officer Brie Carere noted in a press release. As such, FedEx says it is doing what it can to cut down on holiday shipping chaos.

FedEx is giving consumers until December 23 to ship their packages within the US, Mexico, Canada, or Puerto Rico for next-day delivery.

USPS

If using the United States Postal Service, consumers should mail their gifts by December 21 to arrive before Christmas in the US, but those shipping to Alaska and Hawaiian must have packages in by December 20.

December 16 is the deadline for shipping internationally to Asian and European countries.

It's unclear if shipping to Canada in time for Christmas is possible. USPS previously said mail service to Canada was suspended due to the ongoing postal worker strike, but Labor Minister Steven MacKinnon asked for Canada Post union employees to be ordered back to work on Friday, according to the Toronto Star.

UPS

Those shipping with UPS have until December 23 to mail their packages within the US or Canada using its Next Day Air service. Rates will depend on when you ship and where you're shipping to.

• Police said they found a "ghost gun" on the UnitedHealthcare CEO shooting suspect.
• Ghost guns are untraceable firearms that can be assembled at home, raising safety concerns.
• Elected officials are cracking down on the sale of such weapons to curb their accessibility.

Police say a weapon they found on UnitedHealthcare CEO shooting suspect Luigi Mangione could be a 3D printed ghost gun.

Ghost guns are firearms assembled at home using parts that were purchased individually. Sometimes, those components are made using a 3D printer. It's legal to buy the parts and use them to make your own gun, but laws prohibit the sale or transfer of ghost guns to another person.

Mangione "was in possession of a ghost gun that had the capability of firing a 9mm round," Joe Kenny, the New York Police Department's chief of detectives, told reporters on Monday.

He added that it "may have been made on a 3D printer"; there's no confirmation that it was the same gun used to kill Brian Thompson.

Mangione is being held without bail, and a lawyer for him has not yet been publicly identified.

Both authorities and gun safety groups have raised concerns about ghost guns, which are accessible online in kits. More than 25,000 privately made firearms were recovered by US law enforcement agencies in 2022, according to the DOJ.

In 2022, New York City officials filed a lawsuit against five ghost gun retailers over their sales to residents. Mayor Eric Adams eventually came to an agreement with at least four of the companies that would stop the sale of ghost guns in NYC.

It's unclear if the firearm Pennsylvania police say they recovered from Mangione is technically a ghost gun, said Kris Brown, the president of the gun safety group Brady.

They'll know for sure once investigators examine the weapon to see if any of its component parts have serial numbers. Only if there are no serial numbers is it a ghost gun, meaning entirely unregulated and untraceable, Brown told Business Insider.

Mangione may have printed the plastic portions of his gun, but he likely purchased the metal components, she said. Under current law, if you buy these components as part of a kit, you need a background check, Brown said.

These include the slide, the thread for the barrel, and the trigger mechanism; all are easily acquired through mail-order companies that advertise online.

Currently, some states require serial numbers for separately sold metal components, and some do not, Brown said.

Brady advocates for gun-control legislation, including the 2022 rule issued by the Biden-Harris administration regulating the sale of ghost gun kits."That bill has been very effective," she said. "Without it, it would have been lawful for a shooter to buy a kit and assemble an entire gun in minutes." In 2023, there was a drop in ghost gun recoveries by police nationwide, Mark Collins, Brady's director of federal policy, said.

Brady is pushing next for passage of the Ghost Guns and Untraceable Firearms Act, which would set a federal standard requiring background checks and the serialization of build-it-yourself gun parts.

• Microsoft AI CEO Mustafa Suleyman predicts AGI is more than two years away.
• His timeline contrasts with Sam Altman, who suggests AGI is achievable "with current hardware."
• Definitions of AGI vary, with Suleyman emphasizing a broad human-level learning system.

Mustafa Suleyman, Microsoft's AI CEO, indicated that the timeline of AI advancement will be much longer than Sam Altman has predicted.

During an interview on The Verge's Decoder, Suleyman gave his take on when artificial general intelligence — AI with human-level proficiency at tasks — will become achievable. In October, Altman, cofounder and CEO of ChatGPT-maker OpenAI, said that AGI is "achievable with current hardware." He spoke during an ask-me-anything session on Reddit.

Altman didn't clarify exactly what he meant by "current hardware," though Decoder host Nilay Patel defined it as within one to two generations of tech.

Suleyman agreed with that timeline but with some hefty caveats. He told Patel that AGI would be more plausible in the next two to five generations.

"I don't want to say I think it's a high probability that it's two years away, but I think within the next five to seven years, since each generation takes 18 to 24 months now," Suleyman said.

He added that five generations of tech, like new versions of Nvidia's GB200 chips, could be up to a decade away.

"The uncertainty around this is so high that any categorical declarations just feel sort of ungrounded to me and over the top," Suley said.

Weeks after his declaration on Reddit, Altman spoke at The New York Times DealBook Summit in early December. He said AGI will come sooner than expected but "will matter much less."

Suleyman says people have different definitions of AGI. He defines it as "a general-purpose learning system that can perform well across all human-level training environments" — including physical labor.

Meantime, OpenAI's website defines AGI as "a highly autonomous system that outperforms humans at most economically valuable work."

"The challenge with AGI is that it's become so dramatized that we sort of end up not focusing on the specific capabilities of what the system can do," Suleyman said.

No matter how Altman defines AGI, OpenAI is reportedly working to remove a clause from its contract with Microsoft that's meant to prevent the misuse of AGI. Still, Suleyman says he's confident in Microsoft's multibillion-dollar investment in OpenAI.

"Naturally, in any partnership, there are little tensions here and there, but fundamentally, we will win together," he told Patel.

• My Gen Alpha sister sent me her Christmas list, and some of the items surprised me.
• Her wish list is a snapshot of what teens at her Texas high school are coveting this holiday season.
• Nike, Apple, and Lululemon remain popular among teens, according to her list and a recent survey.

Every holiday season, my family expects to receive an extensive Christmas list from my 14-year-old sister — in true youngest-sibling fashion.

Usually, I (a practically vintage 25-year-old, to her at least) expect to get a few hints about which trends appeal to the next generation of consumers. This year, I was surprised to find some old names among her gift ideas.

While her Christmas list includes unsurprising entries from brands that have recently done well with young people — think Stanley and Lululemon — she also asked for items I didn't expect to be on a high schooler's radar.

Piper Sandler got input from over 13,000 teens in the US for its semi-annual Generation Z survey published in October. While Nike was teens' favorite brand, Lululemon ranked third in apparel brands.

IPhones are still king in the smartphone market for teens, with 87% telling Piper Sandler they own one. It's not totally shocking that Apple, Nike, and Lululemon made it on her list, but her reasons and a few other entries seemed surprising.

From TikTok to the classroom, my sister — who my mom asked to remain unnamed — told me her inspiration comes from online and offline. She gave me an "important disclaimer" that items on her list are suggestions we adults can choose from — we aren't required to get them all, of course.

Some fun honorable mentions from her list: Robux (currency for the game Roblox), a Stanley tumbler, and luxury beauty products from Dior.

Here's what else my sister said she and her Gen Alpha friends are coveting this holiday season.

Victoria's Secret products are making a comeback with her friends.

Victoria's Secret thrived in the 2000s as a lingerie brand, along with popular teen brand Pink. It raked in billions and was a hit during my teenage years, but struggled to adjust to apparel trends.

Almost 10 years later, my sister and her classmates are eyeing Pink loungewear sets, perfume, and Victoria's Secret makeup bags not unlike the ones I begged for in high school. That's reflected by its shares, which have gained 85% in the last year.

It buys into young people's recent obsession with Y2K fashion trends. Victoria's Secret even brought back its famous fashion show this year.

It's certainly earned a new customer in my sister.

She wants an iPhone 16, but not for the reason you'd think.

When I asked my sister if she knew about Apple Intelligence, she had no clue what I was talking about. So it was surprising to see the iPhone 16 — a phone Apple has touted as being made for AI — on her wish list.

About 30% of teens surveyed by Piper Sandler said they planned to upgrade their iPhones in the coming months because of Apple Intelligence.

It's not the writing tools, Siri, or Genmojis that have her looking to trade in her iPhone 12 Pro Max. She said she's mostly interested in having the photo-editing features — which she wasn't aware were made possible by Apple Intelligence.

Apple is launching its AI software on a rolling basis with new features expected to be released on Monday as part of iOS 18.2 — just in time for Christmas.

Everyone at school is wearing Jordans and Dunks.

She said she sees "a whole bunch" of retro Jordan sneakers and Nike Dunks — two styles that Jim Duffy, a Nike analyst for Stifel Institutional, previously told BI that Nike has come to rely on too much for sales.

Although Nike has released signature shoes with several professional athletes over the years, my sister says she mostly sees Jordans and Dunks at her high school in Texas.

Nike has struggled recently — revenue was down 10% in the fiscal-first-quarter earnings reported in October. I wasn't sure if teens were giving the brand much attention these days, but it seems like young people remain interested in the sports giant.