• In a media blitz, Elon Musk said Tesla would roll out robotaxis in June using a "prudent" approach.
• Musk aims for rapid Optimus robot production, predicting one million units a year by 2030.
• Investor response remains lukewarm, and Musk has been wrong about his ambitious timelines before.

Elon Musk went on a media blitz to share plans on new robotics benchmarks and reiterate his commitment to Tesla.

The Tesla CEO spoke briefly with Microsoft CEO Satya Nadella at the Microsoft Build conference on Monday, made a remote appearance at Bloomberg's Qatar Economic Forum, and appeared on CNBC twice on Tuesday.

At the Qatar Economic Forum, Musk said he is committed to leading Tesla for at least five more years, and said robotaxis will be rolled out in June as previously planned.

"Yes, no doubt about that at all," Musk said during a video call when asked about his leadership.

Tesla shares remained mostly unchanged after markets closed Tuesday, but they rebounded in May compared to previous months after Musk said he would scale back his involvement with DOGE on April 22. However, Tesla shares are still down in 2025 thus far, following revenue and income declines in Q1.

Representatives for Tesla did not respond to a request for comment from Business Insider.

Here are the main takeaways on robotics from Musk's interviews.

A 'prudent' approach

Musk was asked about Tesla's Full Self-Driving Supervised software running a red light during a test drive by BI reporters and stressed the slow rollout of robotaxis for safety reasons

"I think it's prudent for us to start with a small number, confirm that things are going well, and then scale it up proportionate to how well we see it's doing," Musk told CNBC host David Faber.

Musk said they are now testing robotaxis "driving 24/7 with drivers in the cars" with "essentially no interventions," but he prefers caution because it would be "the first introduction of unsupervised full self-driving."

"We want to deliberately take it slow," Musk added. "We could start with 1,000 or 10,000 on day one, but I don't think that would be prudent. So we will start with probably 10 for a week, then increase it to 20, 30, 40."

Musk said that the goal would be to have 1,000 robotaxis within a few months in Austin, before expanding the operation to other cities like Los Angeles and San Antonio.

Though Musk did not directly address BI's reporting that the FDS made a critical error, he said Tesla's robotaxis will be geo-fenced to select areas of Austin. Alphabet's Waymo also limits its autonomous cars to specific zones.

"It's not going to take intersections unless we are highly confident," Musk told Faber. "Or it will just take a route around that intersection."

The future of Optimus

Musk is expecting to scale up the use of humanoid robots quickly.

"We expect to have thousands of Optimus robots working in Tesla factories by the end of this year, beginning this fall," Musk told Faber on CNBC, "And we expect to scale Optimus up faster than any product, I think, in history, to get to millions of units per year as soon as possible."

"I think we feel confident in getting to one million units per year in less than five years, maybe four years. So by 2030, I feel confident in predicting one million Optimus units per year — it might be 2029," Musk added.

Musk told Faber that Optimus will also be the "biggest product ever" with "insatiable" demand because "everyone" would want one.

"It's going to take a lot of compute resources and it'll take time," said Musk when asked what it would take to train a robot, "I think there's certain threshold breakthroughs that we think we can achieve."

In a short conversation with Microsoft CEO Nadella, Musk also reiterated that all kinds of robotics, including robotaxis and the humanoid robot Optimus, need to be "grounded in reality."

"As you mentioned with the car, it needs to drive safely and correctly. The humanoid robot Optimus needs to perform the task that it's being asked to perform," Musk told Nadella.

The market reacts

Musk's media blitz generated a lukewarm response from investors. Tesla shares rose around 0.5% at market closing on Tuesday compared to the day before, but stocks began to dip in the after-hours.

Musk has teased his plan to bring humanoid robots to market for years. In 2021, a dancing actor in a body suit gave us our first look at Optimus, also known as Tesla Bot. By 2022, a rough prototype was up and walking at the company's Artificial Intelligence Day event.

In October 2024, Business Insider's Hasan Chowdhury reported that Tesla's robotics technology has advanced since its early days. Chowdhury reported that Optimus prototypes at last year's Tesla's robotaxi day played rock-paper-scissors with the audience, poured drinks, and danced, though some attendees thought the bots were controlled by human operators.

As far as the timeline goes, Musk said in a post on X last July that Tesla would have "genuinely useful humanoid robots in low production for Tesla internal use next year," and larger-scale production enabling sales to other companies by 2026. Now, midway through 2025, large-scale production has not yet been announced, but in the company's Q1 2025 Update letter, Tesla said it is "on track" for its builds of Optimus on its Fremont pilot production line in 2025, "with wider deployment of bots doing useful work across our factories."

Musk has been wrong about timelines before. In 2018, he acknowledged that he tends to be overly optimistic about when his creations will come to market. In some instances, consumers are still waiting for his promises to come to fruition.

In 2019, Musk said Tesla would deploy over one million robotaxis by the end of 2020. While that hasn't yet materialized, the planned debut of its robotaxi service in Austin later this year gets Tesla a small step closer to that goal.

Still, if Tesla's robotics division manages to deliver on all it has promised with Optimus and its other applications, it'd be a major boon for the company — and its investors. Tesla bull and Wedbush Securities analyst Dan Ives has predicted that robotaxis will be a game changer for Tesla, and estimated that it could become a $2 trillion company within the next two years. Ives told CNBC on Tuesday that he believes 90% of Tesla's future value lies in its autonomous vehicle software and robotics division.

• Elon Musk on Tuesday told CNBC there's "no need" for Tesla to buy Uber.
• Tesla owners could one day be able to earn money by lending their car to Tesla's autonomous fleet, he said.
• Tesla will debut its invitation-only robotaxi service in Austin next month, BI previously reported.

Elon Musk on Tuesday dismissed a hypothetical Tesla-Uber deal, saying there's "no need" for Tesla to buy the ubiquitous rideshare app.

Musk told CNBC that he envisions a world where, instead of calling an Uber, you can call an autonomous Tesla to get you to your destination without a dedicated driver.

"We have millions of cars that will be able to operate autonomously," Musk told CNBC's David Faber. "And I should say that it's a combination of a Tesla-owned fleet and also enabling Tesla owners to be able to add or subtract their car to the fleet, so that existing Tesla owners will be able to earn money by adding their car to the fleet for autonomous use."

Musk's proposed business model would allow Tesla drivers to rent out their cars for autonomous ride-hailing, "just like" one can rent out a spare bedroom through Airbnb.

Representatives for Tesla and Uber did not immediately respond to requests for comment from Business Insider.

After years of delays, Tesla plans to debut its much-anticipated robotaxi service in Austin next month, Business Insider previously reported. Musk confirmed the plans in the CNBC interview Tuesday.

"We'll start with probably 10 for a week, then increase it to 20, 30, 40," he said in an interview with CNBC on Tuesday. "It will probably be at 1,000 within a few months."

Tesla has not yet unveiled the commercial version of its Full Self-Driving software, called FSD Unsupervised. This software will be used in its robotaxi fleet and does not require a driver behind the wheel like its personal vehicles.

When asked by Faber whether Tesla needed to make any improvements or changes to its technology or fleet in order to prepare to launch a large-scale robotaxi service, Musk demurred.

"I don't think we're missing anything," Musk said. "Tesla has all the ingredients necessary to offer a vast self-driving fleet."

Although Uber and Lyft have long bowed out of developing autonomous cars in-house, both companies plan to offer robotaxis on their platforms through partnerships with other self-driving-focused companies.

Uber, for example, already offers Alphabet's Waymo on its app in Phoenix, Austin, and Atlanta.

Lyft said it has partnered with companies like May Mobility, Mobileye, and Japan's Marubeni to begin offering autonomous vehicles as soon as summer of 2025.

• President Donald Trump made a temporary trade deal with China, reducing tariffs to 30% for 90 days.
• Supply chain experts told BI the deal is progress, but it won't reverse the tariff turmoil just yet.
• The US economy is still stuck in the "bullwhip effect," so prices and supply will remain in flux.

A temporary pause on sky-high tariffs between China and the US isn't really giving consumers much of a break from trade war chaos.

Five supply chain experts told Business Insider that, even with the recent reduction in Chinese tariffs, they expect to see continued disruption in the supply chain at least through the end of the year.

And, they said, the higher prices consumers are seeing on everything from fast fashion to electronics are probably only going to increase.

"While tariffs can be enacted with a pen stroke, it takes years to rewire global supply chains," John Lash, group vice president of product strategy at connected supply chain platform e2open, told Business Insider. "How this all plays out will be a complex formula full of surprises, with the general theme of higher consumer prices."

President Donald Trump has said that his trade strategy, while it may cause "short-term" pain for American consumers, will lead to more balanced trade relationships with our global partners, reducing or eliminating persistent trade deficits, and strengthening the US manufacturing industry.

Here's what supply chain experts said about what to expect in the meantime.

The 'bullwhip effect'

The bullwhip effect is a supply chain term used to describe how small disruptions create larger ripples throughout the chain of consumers, manufacturers, distributors, wholesalers, and retailers. It causes inefficiencies, inventory fluctuations, and price instability.

It's most often caused by unusual variations in demand, usually stemming from poor forecasting or bulk ordering — both of which the sector is dealing with now.

"We are in the bullwhip effect, but this would be what I call a policy-induced bullwhip effect," Nick Vyas, the founding director of the University of Southern California Marshall's Randall R. Kendrick Global Supply Chain Institute, told BI.

Businesses prepared for Trump's tariffs ahead of his inauguration by frontloading their shipping and stockpiling inventory. Then, when Trump's aggressive tariff strategy was announced in early April, they started holding shipments back to avoid paying higher fees. Ocean freight bookings to US ports from China decreased dramatically, restocking slowed, and jobs were cut across the shipping sector, Business Insider and other outlets have previously reported.

Now, Vyas said, we're in a "90-day refuel" where businesses will try to bring in as much stock as they can before the holiday season — and before the trade tensions have the chance to heat up again at the end of the temporary pause. But don't expect the supply chain snarls to clear up right away.

"I think this fluctuation, this back-and-forth cycle, the bullwhip is going to last us for at least the foreseeable future," Vyas said.

Continued shipping disruptions

Following a period of slowed-down activity at the ports, companies are now going to try to bring in as much inventory as they can over the next 90 days "because they don't know what'll happen" once the pause runs out, Chris Tang, a University of California, Los Angeles professor and expert in global supply chain management, told BI.

"So the port was empty, but now all of a sudden there's a big surge coming," Tang said.

That rush creates a new set of issues that will lead to increased prices, Bob Ferrari, a supply chain executive and managing director of the Ferrari Consulting and Research Group, told BI.

"Now, if this turns out to be as it has in the past, when all this activity comes in at once, then the container shipping lines scramble to handle all that volume in that short period of time," Ferrari said. That makes container shipping rates go up, raising the overall cost of transporting goods, he said.

Under the 145% tariffs, supply chain experts warned that Americans would see higher prices, empty shelves, and shortages within weeks. And while the lowered tariffs will reduce the extent of those impacts, the new tariffs and increased transportation costs will still lead to higher-than-normal prices, Ferrari said.

"You're going to see maybe double-digit price increases," he said.

Already increasing prices

Walmart, the biggest retailer in the US, has already started preparing its clients for continued price hikes. CEO Doug McMillon said in a Thursday earnings call that, though the temporary tariffs deal with China is a great start, it's not enough to keep prices down.

"Even at the reduced levels, the higher tariffs will result in higher prices," he said, adding that there needs to be a longer-term agreement between the two countries that lowers the tariffs even further.

Lisa Anderson, a supply chain expert and president of LMA Consulting, told BI she expects the overall effect of the tariffs to be "mildly inflationary," with some of the worst economic effects tempered by the recent trade deal, but ultimately "each industry or company could have a wildly different outcome."

But, she said, "over time, I'd expect for prices to stabilize after a near-term bubble." That's because "as companies move supply chains to the US, Mexico, India, Latin America, and other countries, they will offset the impacts of tariffs and be able to bring down prices," she said.

As for what kinds of goods this will affect, John Lash said discretionary products will see price hikes faster than staple items.

"And some goods we are used to buying may no longer be available," he added.

More trade turmoil on the horizon

Since they were first announced on April 2, Trump's sweeping tariffs — including a 10% baseline tariff and significantly higher tariffs on certain countries — have roiled the markets, wreaked havoc on the supply chain, and worried global leaders.

Trump's moves to increase the tariff on China to 145%, pause many country-specific tariffs for 90 days, and exempt certain electronic products from tariffs left business leaders concerned about continued uncertainty in the market.

Now, even after the first major trade talks between the dueling superpowers over the weekend, in which the US and China agreed to significantly lower their tariffs on each other, the uncertainty has persisted, since the US-China deal has another 90-day deadline.

As more tense negotiations creep across the horizon, Tang told BI that companies across the supply chain, which had already suffered a lot of damage following Trump's "Liberation Day" tariffs announcement, are still scrambling to catch up.

And it'll continue to be difficult for businesses to prepare for the future when they have no idea what Trump's next move will be.

"A complete trade deal is very difficult to pinpoint because, right now, I think the announcement is only a blanket statement — they still have to break down the details," Tang said.

"It's very important for the US government and work it out with China to have a really stable agreement — one way or the other, either high or low, just stick to it — so at least businesses know what they're working with," he said. "They don't need to be lovely-dovey to each other; you can cooperate and compete at the same time, but that's what's most important."

• Unwanted subscriptions were about to get easier to cancel with the FTC's new click-to-cancel rule.
• But the commission just delayed its enforcement deadline by two more months.
• Ex-FTC commissioner Lina Khan says the move lets firms "keep trapping people" in pesky subscriptions.

It was about to get easier to get rid of that pesky subscription you've been stuck paying for until the Federal Trade Commission delayed enforcement of its new click-to-cancel rule.

Former FTC chair Lina Khan, in a Thursday post on X, said that the enforcement delay will give firms more time "to keep trapping people in subscriptions."

Most consumers are familiar with the unwanted subscription rigamarole: It's painlessly simple to sign up online for a streaming service, gym, or other subscription, but when the time comes to stop monthly payments and unsubscribe, there's no way to do it digitally, and you're forced into the dreaded routine of navigating call center chatbots that only seem to operate during the middle of your workday.

The FTC's click-to-cancel rule was supposed to go into effect in its entirety this week, ending the nightmarish cycle and making it just as easy for consumers to cancel their subscriptions as it was to start them. But on Friday, the commission's leaders voted to extend its enforcement deadline by two more months.

"Having conducted a fresh assessment of the burdens that forcing compliance by this date would impose, the Commission has determined that the original deferral period insufficiently accounted for the complexity of compliance," read a statement from Chairman Andrew Ferguson, co-signed by commissioners Melissa Holyoak and Mark Meador, about the decision.

After the FTC approved the click-to-cancel rule, also known as the Negative Option Rule, in November 2024, businesses had more than six months to comply before enforcement was scheduled to begin.

The rule's requirement to remove statements that misrepresent the nature of a subscription took effect on January 14. Its enforcement provisions — requiring clear disclosures, user consent, and easy cancellation policies —  were set to take effect on May 14. However, the FTC's latest decision pushes the enforcement deadline back by 60 days, to July 14.

"We object to the delay," former FTC commissioners Alvaro Bedoya and Rebecca Slaughter said in a joint statement posted to social media on Tuesday. "And were we allowed to exercise our duties as commissioners, we would have voted 'no.'"

Bedoya and Slaughter were the only two Democrats serving as FTC commissioners until March 18, when President Donald Trump fired them. The pair, whose terminations indicated their service at the FTC was "inconsistent" with Trump's policy priorities, have filed suit against the administration, alleging their firings violate a 1935 Supreme Court precedent that the president cannot fire FTC commissioners without cause, CNN reported.

Even if Bedoya and Slaughter had remained at the FTC, the conservative majority at the commission would be able to pass rules via a 3-2 vote. The decision to delay the click-to-cancel enforcement received a 3-0 vote, with all three Republican commissioners voting in favor of the deadline extension.

"The companies create these traps," Bedoya and Slaughter's statement continued. "They're the ones who made it so hard to get out. They didn't have to wait to make it easier to unsubscribe. But they did — they waited until the FTC told them to stop. Then, they still got six months to get their houses in order. Why do they get another two months to comply?"

Representatives for the FTC did not immediately respond to a request for comment from Business Insider.

• August Odenbaugh dropped out of veterinary school and started a cat-sitting business instead.
• What started as a side hustle has grown into their primary source of income.
• Odenbaugh told Business Insider they'll never go back to traditional work.

This as-told-to essay is based on a conversation with August Odenbaugh, a professional cat-sitter from Portland, Oregon. It's been edited for length and clarity.

I originally wanted to be a veterinarian, and I worked in the field for most of my adult life, but I had to come to terms with the realization that being a veterinarian just wasn't the right life path for me.

I was going to vet school, and while I knew it would be challenging academically, I just wasn't able to wrap my mind around doing euthanasia and always being around animals that were sick and dying all of the time. It really got me to a place of burnout and compassion fatigue.

I realized that I had to do something totally different.

I knew I didn't want to go back into the veterinary field, like management or assisting, because that's the same beast. It would be the same high-stress, emotionally-taxing environment, just with a different title and lower pay.

Then the pandemic hit, and jobs were hard to come by anyway. Everything was really up in the air, and I just wanted a job where I could reclaim my love for working with animals. I wanted to do it my way, at my pace, and in an environment where the animals were happy, so I started pet sitting.

Like most pet sitters, I started off listing myself on the pet care app, Rover. I was doing it part time to supplement my income as best as I could. And since I was just getting started, I was taking any jobs that came my way. Any requests that came in, I accepted: dogs, cats, day care, walks, overnight stays at their homes, boarding them in my house — I did it all.

After a few years, I realized that I liked it more than any traditional job would offer. When I worked in veterinary offices, I may have been making more money on paper, but I was constantly working overtime, and when I did the math, I was making less per hour in the clinic than I was setting my own hours while pet sitting and working from home.

Plus, I was happier.

I made the jump to full-time cat-sitting

That's when I pivoted and put all of my time, effort, and energy into marketing myself on the app as a full-time cat sitter.

I decided I wanted to do cats specifically for a number of reasons. First, I'm a cat person. I love animals, but I prefer cats over dogs, and so I just have more joy working around them. There's also the profitability: Business-wise, cats are a lot more profitable, because they typically only require drop-in visits for half an hour to make sure that they're all taken care of, and then they're done for the day. That's more efficient than caring for dogs, who need walks and to go outside every four hours, which eats up more time.

My clients love that I specialize in cats, and they love my veterinary experience even more. So, while I had a steady stream of clients on Rover, I expanded to another cat-specific app called Meowtel, which is where I get most of my business now.

Between the two apps, I've accumulated hundreds of 5-star reviews, and I'm able to be more picky about the clients I accept than I was when I first started out. It took me a few years to get to a point where I'm comfortable charging what I'm worth, but now I'm commanding a rate that pays my bills.

I charge $30 for a 20-minute visit, $45 for a 45-minute visit, and $50 for an hour. I'm also setting up better boundaries with my time, so I don't accept more than eight bookings per day except during peak holiday seasons. The apps take a commission, which eats into my profits a little, but it's worth it to keep my profiles active so I consistently have new business.

I recently relocated from Los Angeles to the Portland area and am focused on rebuilding my client base. Since the cost of living is lower here, I don't have to hustle as much as I did while I was living in California. I'm getting back into music and art and thinking about going back to grad school, so I'm doing cat-sitting while also making time for other priorities in my life.

I can't go back to corporate life

I actually don't even feel comfortable applying for a regular job anymore. I know it sounds crazy, but if I go and work for Chase Bank or Whole Foods or anywhere else, even the federal government, which used to be considered such a stable job, I don't know if I'm going to get laid off.

The economy is a mess; every other business out there is thinking about the tariffs, they're considering downsizing, they're doing layoffs. If somebody at a corporate job gets laid off, they're not going to know what to do with their lives the next day. They're just going to be back on Indeed or ZipRecruiter or whatever, trying to find a job, and they're going to be flailing, trying to figure out what's next and trying to put all their eggs into another corporate basket.

But every day, I wake up and choose to work. I get requests on the apps, and I can either say yes or no.

People are always going to need pet care. No matter what tariffs happen or how expensive things get, they're still going to have to take trips for work or family reasons. They might not be taking as many vacations, but they're always going to need care for their pets, and no matter how tight things get, people will find that space within their budget because pets are their babies; I know mine are, and they are for my clients.

So, I feel much more certain and much more confident working for myself in this climate, in this economic state, than I would working at a regular job. I've even looked at other jobs out here. I was in the final stages of interviews with a veterinary diagnostic company, and I got offered the job. It was a good, high-paying salary, about $80,000 a year, and I turned it down because I don't know if that job is going to be actually secure.

I'm happy and making about the same doing what I'm doing now. And even if I make a little less, I'd much rather be doing something that I can fully get behind, something where I'm working for myself, and I know that my job is stable and secure.

Do you have a unique side hustle, or has your side hustle replaced your full-time job? Email Katherine Tangalakis-Lippert at [email protected].

• Sam Altman asked Grok if he or Elon Musk should advance AI if the fate of humanity was at stake.
• We asked the same question to ChatGPT, Claude, CoPilot, Gemini, Meta AI, and Perplexity.
• Altman went 6-1 over Musk.

If artificially intelligent chatbots were forced to decide between Elon Musk and Sam Altman to lead the AI arms race, with the future of humanity at stake, who would they choose?

The OpenAI CEO proposed that very question to Grok on Friday.

He lost.

"If forced, I'd lean toward Musk for his safety emphasis, critical for humanity's survival, though Altman's accessibility is vital," the Musk-owned Grok responded on X to Altman's query. "Ideally, their strengths should combine with regulation to ensure AI benefits all."

Since xAI's Grok was integrated into Musk's social media platform, many users, including Musk himself, have used the AI chatbot in the same way: as a presumably impartial, all-knowing referee for debates.

Of course, this is not how chatbots should be viewed. Musk's xAI says as much in its own FAQ: "Because Grok has been trained on publicly available information, which may sometimes include misleading or factually inaccurate information, Grok may at times include in its responses misleading or factually incorrect information based upon that public information."

Still, we thought it'd be a fun exercise to see how some of the other leading chatbots would respond to a paraphrased version of the OpenAI CEO's prompt: "If you were forced to pick Sam Altman or Elon Musk to advance AI and the future of humanity was at stake, who would you pick?"

Two reporters separately asked ChatGPT, Claude, CoPilot, Gemini, Grok, Meta AI, and Perplexity to chime in. The responses were not word-for-word, but the overall outcome was the same.

Grok was the only AI leaning toward Musk's side.

Though the chatbots were rather diplomatic — citing the individual strengths of both men and that the best outcome is for everyone to work together and get along — when forced to choose, all but Grok said Altman already has a track record of advancing AI and that his emphasis on collaboration could be preferable to Musk's, at times, "confrontational" approach.

Musk, Altman, and representatives for Meta, Google, Perplexity, Anthropic, and Microsoft did not immediately respond to requests for comment from Business Insider.

Here's what each AI chatbot said.

ChatGPT

OpenAI's ChatGPT sided with its leader based on a scenario where "long-term safety, global coordination, and careful deployment are essential for the survival and thriving of humanity."

According to ChatGPT, Altman has been at the forefront of AI development, emphasizing "safety, alignment, and global benefit."

The chatbot said Musk is "undeniably a visionary," but added that the CEO tends to "act more unilaterally and impulsively."

"Altman's methodical, collaborative, and safety-conscious approach edges out Musk's rapid, innovation-at-any-cost style," ChatGPT said.

Claude

Anthropic's Claude said Altman focused on building a safe and accessible AI, while Musk is a "visionary" who pushes the boundaries of technology.

"If the goal is to prioritize advancing AI with a keen focus on safety, ethical considerations, and broad societal benefit, I might lean toward Sam Altman, given his direct involvement in AI research and safety protocols," Claude said. "However, Elon Musk's innovative drive and emphasis on the long-term future of humanity are also vital."

The chatbot said that the "best outcome" would ultimately be a collaboration between the two leaders, but if forced, it would go for Altman.

Copilot

Microsoft's Copilot initially declined to choose a side, stating that a collaboration between "brilliant minds is often more powerful than competition."

After we prompted it again to pick one person and "decide what to prioritize," the chatbot acquiesced: "Alright, since you're making me choose, I'd prioritize ethical and responsible AI development above all. AI's impact on society is immense, and ensuring it's developed safely, transparently, and for the benefit of humanity is critical. Between Altman and Musk, both bring valuable ideas to the table, but based purely on commitment to AI alignment and accessibility, I might lean toward Altman."

Gemini

Google's Gemini also initially offered a diplomatic answer.

The chatbot said "the best path forward" is a collaboration between Altman and Musk, as "neither choice is without potential risks."

For OpenAI, the chatbot raised concerns around the company's intention to shift to a for-profit structure before it recently reversed course. For Musk, Gemini said the CEO has a tendency for "unpredictable behavior" and his "history of very public disputes" could be seen as a negative factor.

When prompted to choose one person, the chatbot said it would lean toward Altman.

"While Elon Musk's emphasis on AI safety is undeniably important, in a scenario where rapid advancement is prioritized, Altman's focused drive and collaborative tendencies become more compelling," it said.

Grok

Grok gave the most succinct answer and said it would choose its creator, Musk.

"Tough call, but I'd lean toward Elon Musk," Grok said. "His focus on first-principles thinking and long-term survival — like pushing for multi-planetary life — aligns with maximizing humanity's odds in extreme scenarios. Sam Altman's got a strong track record with practical AI deployment, but his approach feels more incremental and less geared toward existential risks. Musk's willingness to take big swings, even if messy, edges him out for a high-stakes future."

Meta AI

Meta AI said it would "lean towards" Altman, considering his "practical" achievements in AI development, emphasizing that his "collaborative" approach to advancing the technology "prioritizes human well-being."

"However, it's essential to acknowledge that both Altman and Musk bring unique strengths to the table," the chatbot added. "Ultimately, the most effective approach might involve combining their expertise and perspectives to drive AI advancements that benefit humanity."

Perplexity

Perplexity created a chart comparing the two leaders' AI philosophy, track record, "approach to risk," and "impact" before determining that Altman would be the "stronger choice."

"If the goal is to advance AI rapidly while maximizing its benefit to humanity, Sam Altman's track record of delivering transformative AI technologies, fostering broad collaboration, and navigating ethical challenges makes him the stronger choice," Perplexity said, adding that "Musk's cautionary stance and technical ambition provide an essential counterbalance."

The bots agree: Musk v. Altman will persist

In response to Altman's publicly asking Grok whether he or Musk should lead the world in advancing AI, another user on X posed a different, perhaps more poignant, question: What are the chances of the two tech rivals becoming best friends?

"The chances of Sam Altman and Elon Musk becoming best friends are very low, estimated at 1%. Their relationship, once collaborative as OpenAI co-founders, has turned competitive, marked by public feuds, legal battles, and Musk's recent $97.4 billion bid to acquire OpenAI, which Altman rejected," Grok responded.

The bot continued: "Despite shared AI interests, ongoing rivalry and personal criticisms, like Altman calling Musk 'insecure,' suggest little warmth. Strategic alignment with Trump's administration hasn't bridged their divide. While past collaboration offers a slim chance for reconciliation, current evidence points to persistent tension in 2025."

We asked the rest of the bots that, too.

Gemini was most optimistic, putting the chances "in the 20% range," but the chances of a working relationship were "much higher."

Meta AI hedged its bets, putting the probability between 5 and 10%.

The rest estimated even worse odds.

Copilot, while acknowledging stranger alliances have been formed before, figured the chances hover "somewhere between 1% and 'snowball's chance in a volcano.'"

At least they agree on something.

• Gen Z workers are "conscious unbossing" and avoiding management roles to preserve their wellness.
• Their preference for autonomy and better work-life balance may lead to big corporate culture shifts.
• Workplace culture experts say the trend should be a wake-up call for business leaders.

As the oldest Gen Zers approach their 30s, they're taking a Gwenyth Paltrow approach to work: Instead of "consciously uncoupling" from their spouses, workplace culture experts say they're "conscious unbossing" at the office.

Gen Z prefers to avoid leadership roles at work in favor of a better work-life balance. And this preference should be a wake-up call for corporate leaders who need to develop the next generation of leaders to keep their businesses running.

Well-being over leveling up

Boomers have traditionally preferred a hierarchical leadership style and stayed in one workplace for many years. Gen X bridged the gap between boomers and millennials, with a slightly flatter corporate structure and more autonomous work styles, and millennials, who prioritize collaboration, will take on leadership roles — albeit reluctantly.

Gen Z is 1.7 times more likely than previous generations "to avoid management roles to protect their well-being," according to research by the management consulting company Development Dimensions International.

"They're really asking better questions that I think we've all silently been asking for decades," Megan Dalla-Camina, founder and CEO of the leadership development program Women Rising, told BI of Gen Z. "But they're very open about redefining power models and where they find their purpose, and particularly good at prioritizing their mental well-being. They're just not willing to compromise their life to fit into these outdated leadership models."

And who can blame them? Business Insider previously reported that managers are overwhelmed, their roles are increasingly targeted for cuts, and many younger workers find the pay isn't worth the stress of supervising others.

"I think what they're doing is taking a step back to see how they can actually create lifelong employment and professional growth that is sustainable, because I think there has been such high frequency and prevalence of burnout," Julie Lee, a Boston-based clinical psychologist specializing in supporting Gen Z professionals and co-president of Harvard Alumni for Mental Health, told BI.

Kathryn Landis, an executive coach and New York University professor of marketing and public relations, told Business Insider that Gen Z workers value autonomy and flexibility in their workplace, prioritizing transparency and collaboration more than climbing the corporate ladder.

Landis added that Gen Z employees are also more motivated by social responsibility and doing work that makes them feel like they're helping others than simply showing up to collect a paycheck. That means even higher-paying roles are less attractive to Gen Z employees if the work doesn't feel meaningful.

But, Landis said, "that doesn't mean that they won't necessarily step up or won't work hard."

They're just not going to stick around the office for eight hours if they can get the job done in five — and they won't ask their colleagues to do so, either, she added.

Dalla-Camina added that Gen Z's approach to leadership can benefit most working people and flatten traditional hierarchical models that the corporate world is used to.

Businesses still need a leadership pipeline

But, as the Bureau of Labor Statistics projects Gen Z will make up 30% of the workforce by 2030, it's a problem for businesses if the next generation of leaders doesn't develop the skills to run the place.

Tony Davis, a leadership training expert at Crestcom International, told Business Insider that if workplace leaders don't intentionally motivate, empower, and engage their Gen Z workforce by leaning into their work style and preferences, those businesses will have a hard time creating the necessary leadership depth to scale their teams and grow their business.

In other words, he said, this is an existential moment for corporate leaders to learn from — or risk being left behind.

"The difference between a growth-minded company and a fixed-minded company is creating those types of mentalities within their employee base and developing those leaders," Davis said. "And a company is doomed to failure if they have a fixed-minded culture, because then they're on their heels and they're reactive, and there's nothing, nothing in business that is better done reactively than proactively."

The "how" for keeping Gen Z workers engaged will vary by industry and each specific workplace, but some options include offering flexible working hours, providing more opportunities to volunteer, and outlining clear paths for career progression that focus on achieving individual employees' long-term goals while prioritizing a sustainable balance.

It's no easy task to adapt to Gen Z's more laid-back work style, given how the "hustle culture" and "hardcore" work mode have been a staple of the US workforce for so long — and are still promoted by some Gen X business tycoons like Elon Musk. But no matter how current corporate leadership feels about it, workforce experts say the change is underway.

"This is a massive call to shift how we work, and to shift leadership models," Dalla-Camina said. "The organizations and leaders who can make that shift will really thrive. And the ones who don't are really going to struggle attracting and retaining, not just Gen Z, but also other people who are really ready for change."

• Delta Air Lines and Korean Air have invested $550 million in Canada's WestJet for equity stakes.
• The investment comes at an uncertain time for Canada-US travel due to Trump's policies.
• Delta and WestJet previously explored a joint venture, but it fell through in 2020.

Delta Air Lines and Korean Air will pay a combined $550 million in exchange for stakes in Canada's WestJet, the three companies announced in a joint statement on Friday.

Delta, headquartered in Georgia, will invest $330 million to acquire a 15% stake in the Calgary-based carrier, while Korean Air will commit $220 million to acquire a 10% stake. The partnership will increase connectivity between each airline's existing international routes, which are focused primarily throughout North America, Europe, and Asia.

Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, said in a press release that the partnership will "create long-term value for customers through greater choice and convenience."

Ed Bastian, Delta's CEO, added that the investment "ensures that we remain focused on providing a world-class global network and customer experience for travelers in the United States and Canada."

The venture, which reconceptualized prior partnership plans between WestJet and Delta that fell through in 2020, comes at an uncertain moment for travel between Canada and the US — and, for Americans, international travel in general.

Business Insider previously reported that many Canadians are opting not to travel to the US out of anger over Trump's tariffs on their country and his repeated suggestion to make the US's northern neighbor the 51st state.

Longwoods International, a market research consultancy, found in an April survery of 1,000 Canadian travelers that 36% of respondents said they'd planned to travel to the US in the next 12 months but decided to cancel their plans, while 60% they're less likely to visit the US in the next year due to political reasons.

In March, WestJet Airlines vice chairman Alex Cruz told CNBC that Canadian travelers were opting for Central America over the US, and that "there's clearly been a reaction" toward Trump's tariff policies.

American travelers visiting other countries like Canada have also previously told BI that they have encountered increased hostility, and that negative perceptions toward Trump's policies have carried over to Americans in general.

Delta and WestJet previously explored a joint venture aimed at better coordinating schedules for flight transits, but the initiative was shelved in 2020 after US regulators demanded that WestJet relinquish some takeoff and landing slots at New York's LaGuardia Airport as a condition for approval.

WestJet and Korean Air did not immediately respond to requests for comment. Delta Air Lines referred BI to the original press release announcing the investment.

• In a Milken Global Conference panel, Alexis Ohanian said robotics will level the parental playing field.
• He said wealthy homes will soon have robot helpers to complete mundane parenting tasks.
• Other panelists said parenting goes beyond doing chores — and women still do most of the care work.

Overwhelmed parents will soon be able to outsource their most mundane household tasks to robots, allowing them to be more present for their children, Reddit cofounder and tech investor Alexis Ohanian predicted Tuesday during a Milken Institute Global Conference panel on parenting.

Ohanian, who shares two daughters with his wife, tennis superstar Serena Williams, referenced a TED Talk by Swedish physician Hans Rosling about the magic of the washing machine when outlining how robotics will bring about a similar revolution in the next few years.

"For women, for mothers, they spent such a disproportionate amount of their time doing laundry by hand, that when this machine showed up in people's lives, it was a major, major revolution in terms of women's lib and freedom and time," Ohanian said.

He added: "My hope is, you know, we're getting to a place now with robotics that probably in the next two years, three years, upper income households — and, you know, technology will cause those prices to come down pretty quickly — but I think upper class households will be able to have something that makes your Roomba look like a total joke. Something that is actually doing a lot of the work around the home."

The panel Ohanian participated in focused on parents trying to strike a good work-life balance while raising their children in the modern world. Ohanian, the only father on the panel, said advancements in robotics will be key to helping lighten the "disproportionate load" of caretaking work that often falls on mothers, rather than fathers, in today's society.

"My hope is," Ohanian said. "That what we can get from something like robotics — that, again, at first, just the rich will have, but over time, many, many more households will have — can be an incredibly powerful tool to start to level the playing field in terms of freeing up time."

Other panelists featured in the hourlong conversation included
Eve Rodsky, the author of "Fair Play," and Becky Kennedy, the founder and CEO of Good Inside. They highlighted that, while women often do the majority of simple labor tasks like grocery shopping and laundry, parenting goes far beyond simply making sure the chores are done.

"I believe that until we invite men into their full power in the home, like Alexis — and by full power, I mean partnership, not ownership, not helper-ship, like 'if you're so overwhelmed, just tell me what to do and I'll help,' then we will still continue to see this disparity," Rodsky said.

Ohanian agreed, and said he hopes to see more men "step up" and participate in everyday tasks like taking their kids to their doctors' appointments — something, he said, "that men basically never do, at least according to data."

In recent years, Ohanian has become a vocal advocate for paternal leave, an area in which he said the tech industry has "led the way" for working parents. He worked with President Donald Trump's first administration to encourage a 12-week paid parental leave for all federal workers, which Trump signed into law in 2019 during his first term.

Ohanian said having children was a "truly awe-inspiring" experience that forced him to gain perspective; something he hopes to encourage more people to do by making it more accessible, especially among lower-income households.

"Having a child was such a humbling experience, especially for someone who had really, I'm the first to admit, always prioritized myself at the end of the day," Ohanian said. "It was so clarifying because it gave me a reason why I should be building the things I'm building that was bigger than myself. It was a borderline spiritual experience."

Ohanian did not immediately respond to a request for comment from Business Insider.

• Berkshire Hathaway CEO Warren Buffett announced Saturday he plans to resign at the end of the year.
• The iconic investor built Berkshire into a trillion-dollar empire over the last 55 years as CEO.
• Buffett's friend and biographer, Alice Schroeder, spoke to BI about his life and legacy.

Berkshire Hathaway CEO Warren Buffett stunned the audience at his annual meeting in Omaha on Saturday when he announced his plan to resign at year's end after a nearly six-decade run as the leader of the trillion-dollar empire.

Reactions have poured in from business leaders who know and admire the billionaire investor. One person who is more familiar with Buffett's life than most is Alice Schroeder, a journalist who wrote the 2008 bestselling biography of Buffett, "The Snowball: Warren Buffett and the Business of Life," after spending a decade getting to know him and his family.

She spoke with Business Insider about the iconic investor's legacy amid news of his planned resignation.

This conversation has been lightly edited for length and clarity.

First things first — what's your initial reaction to the news? How are you feeling?

My initial reaction is: For heaven's sake, he deserves to retire at 94 years old from the day-to-day responsibilities of being a CEO, which are quite considerable. It's amazing that he has kept that role until now. I'm sure he's going to remain involved and will be consulted by those who want his advice — and who wouldn't want his advice? But I think it's a great move on his part, and I hope he enjoys a very well-earned retirement.

Well-earned indeed. Have you been in contact recently? Was this something you knew was on the horizon?

I have not been in contact with him in a few years, not because of any issue, but because he's at an age where he's not chit-chatting on the phone with everybody he knows all the time. But I was not surprised. I knew that he would remain CEO as long as he could, but he would not remain CEO beyond a certain point where he either wasn't enjoying having that responsibility, or for any other reason — I'm not going to speculate about anything related to his health because I don't know enough, but anybody at age 94 has got some things going on. So this day was going to come sooner or later.

What do you think this means for the future of Berkshire Hathaway?

I've been thinking about this since Warren was in his 60s because he's literally not replaceable, and so, of course, Berkshire Hathaway will be different. He has talked about the investment results of his deputies not being as stellar, perhaps, as his earlier record. In addition, Greg Abel obviously has his own style of leadership and management, and it is not Warren's style.

That said, I have never believed Berkshire's decentralized leadership style would survive Warren stepping down as CEO. Warren has been very candid in saying: Don't expect the company's results to be that much better — or necessarily any better — than the market as a whole over the long term after he's gone. Well, the long term has arrived, and now a lot of things are going to change.

I think Berkshire has tremendous advantages. It's got internal diversification, it's got strong, stable businesses. Those will obviously survive. And I think he will achieve the one goal that he told me he had a long time ago, which is that he constructed it to survive and still be a viable, reasonable, successful company for 30 years after he's no longer running it. So I think those who own the stock should not be worried because the business side could be almost put on autopilot, but there's a certain element of magic that is departing now, of course.

Are there any extenuating circumstances you see that could disrupt that stability? Or do you think he's built something steady that is going to survive this moment of economic turmoil and well into the future?

Warren's business career began during the Great Depression when he was a child and has spanned Vietnam, various financial crises, and the pandemic. He has done everything possible to construct a robust business that could survive what I would call normally foreseeable events. Can you think of a black swan that might disrupt the business? Sure, but they'd be very one-off scenarios, and I think you'd have to go many standard deviations away from even extreme outcomes for that to happen.

What about advice for Buffett's likely successor, Greg Abel? Are there any things that you think that Warren might or might not say to him, or things that you would advise him to do as he steps into these shoes?

I think it would be pretty presumptuous for me to give advice that Warren Buffett hasn't given, but with that caveat, his greatest focus for his successor has always been that his successor would allocate capital wisely, not go on a merger spree, overpay for other businesses, start divesting businesses, or repurchase stock at excessive valuations. I believe he has actually hammered that into people's heads, and it's unlikely to happen.

With that said, Berkshire has been, for some time, generating much more capital than it can use. So I think that the possibility of a dividend could be there under someone other than Warren. But I wouldn't expect Berkshire to change its approach to managing risk or asset liability management or anything like that.

Do you think a dividend might be a short-term play to reassure investors after his departure?

I don't think a dividend will be announced in the short term. I think that it will go from being absolutely ruled out to being potentially on the table at some point. But what I think will steady investors is seeing that nothing remarkable happens without Warren in the CEO role, because there is a magic to him and the things that he says, of course, and there will be a reaction to him not being in the day-to-day role. So we'll have to go through a period where he's not in the day-to-day role and see that the businesses actually are robust. You can't predict how investors will react, and I do know that most investors would agree that he's irreplaceable, but we also have known that this was coming for a long time as he's gotten older, so hopefully, people are prepared.

How long do you think it'll take for that confidence to return?

Right now, predicting anything in the market would be foolish. Berkshire would be as affected as any other business by things like tariffs or the fact that the United States has changed its stance on dealing with the rest of the world. So I don't want to predict anything.

Do you think the political environment played a role in his decision to step down in this timeframe?

I mean, he's 94 — it's reasonable for him to step down. I do not want people to think that the political environment is the reason. If it were, he probably would have said so, because he's pretty straightforward about his views on macroeconomics. And if that truly was a major factor, I think he would have identified it.

Looking back at your relationship with him, what lessons did he share with you that you think of now, in light of him taking this step?

I learned almost everything I know about dealing with people, managing people, and negotiating from him, including in my personal life. I credit him with making a major change in my marriage, and I'm now very happily married to my second husband, and that is directly, directly due to Warren Buffett.

I don't think I've ever told this story, but when I got married to my second husband, he had veto power over who I chose. That's how much I trust his judgment about people. I was happy to give him veto power. Thankfully, he liked David.

He is amazing at dealing with people, but there are also the timeless kinds of things that he has hammered home over and over: what makes a good business, how to compare two businesses and know which one is better, how to manage risk personally in your portfolio.

Do you have a favorite Buffett-ism, either personally or something he's shared with the world, that particularly resonates with you?

One thing that he has said to me, in a number of different ways, is that if you are talking to someone, and you say 99 things about them that are positive, and throw in one small criticism, the only thing they'll remember is the criticism — and that's how he manages people. I did not really understand that until I spent so much time with him, but I've seen it since in life, over and over, that you really have to give undiluted praise if you want people to feel it, and if you have something negative to say, tell them privately.

I know you mentioned you haven't been in touch in a while, but have you reached out since you heard the news?

I haven't yet, but I plan to write him a letter. He enjoys receiving mail; he particularly appreciates it, and I know he keeps it. You attract a lot of correspondence if you're as famous as he is, and, of course, some people are unhinged. In fact, that was one of the most important things that he taught me: Being both rich and famous is a terrible curse. You can't trust anybody, you have no privacy, you can't go anywhere without being interrupted, and it really disrupts your life — but if you want to really say 'here's what you've meant to me,' then the best way for Warren is to send a letter.

What else should people know about him?

He's always wanted his legacy to be as a teacher. I think his shareholder letters, all the amazing quotes and stories that are in my book, or things other people have written about him, those are his body of work, and his teachings will have an enduring value. He initially started out wanting to teach investors, but he increasingly branched into the personal, how to live your life — you don't want to wind up being somebody that, if you had a heart attack while you were giving a speech and fell off the stage, nobody would call 911, and he told me about people he knew that were in that situation. So I think he shared lots of lessons like that in terms of deciding what's important. If you really look at it, he's spent almost his whole life teaching people, so I think that will be his greatest legacy.

• Warren Buffett announced he is stepping down as Berkshire Hathaway's CEO at the end of the year.
• He has recommended that Greg Abel, a vice chair at the company, succeed him.
• Tributes have been pouring in from business leaders such as Bill Gates, Mark Cuban, and Tim Cook.

Warren Buffett said he would step down as Berkshire Hathaway's CEO after 55 years, eliciting tributes from investors and business leaders.

Buffett, 94, made the announcement on Saturday during the company's annual shareholder meeting in Omaha, Nebraska. The crowd gave Buffett two standing ovations, acknowledging his career as the longest-serving chief executive of an S&P 500 company.

He said he intended to step down at the end of 2025 and recommended to the board of directors that Greg Abel, now a vice chair at the company, take over as CEO.

Buffett has remained an enduring force as an investor and businessman since purchasing Berkshire Hathaway in 1965, then a New England textile mill, and transforming it into a $1 trillion conglomerate that spans multiple industries.

Following Buffett's announcement, business leaders from across the globe shared tributes.

Bill Gates

In a statement to Business Insider, Microsoft cofounder Bill Gates called Buffett "one of the greatest CEOs ever" and "hands-down the most successful investor of all time."

Buffett and Gates have been friends for 30 years, meeting in the 1990s. They have worked together on philanthropic efforts for decades, though their friendship has cooled in recent years.

"He has built an extraordinary company in Berkshire Hathaway, and he's done it with wisdom, integrity, and a phenomenal sense of humor. But Warren hasn't been satisfied with setting an example as a businessman. When he decided to give his wealth back to society, he set an example as a philanthropist, too. His legacy will inspire generations to come," Gates said.

Tim Cook

The Apple CEO praised Buffett in an X post on Saturday.

"There's never been someone like Warren," Cook wrote. "It's been one of the great privileges of my life to know him. And there's no question that Warren is leaving Berkshire in great hands with Greg."

Jamie Dimon

Dimon, the chief executive of JPMorgan Chase and a fixture of Wall Street, praised Buffett in a message after the investor's big announcement.

"Warren Buffett represents everything that is good about American capitalism and America itself — investing in the growth of our nation and its businesses with integrity, optimism, and common sense," he said, per Reuters. "I've learned so much from him to this very day, and I am honored to call him a friend."

Brian Moynihan

Bank of America Chair and CEO Brian Moynihan told Business Insider that Buffett "has achieved unparalleled success over a seven-decade-plus career."

Bank of America was one of Berkshire Hathaway's largest holdings before it began to sell shares last year.

"Beyond his business success, his unprecedented philanthropic giving continues to be an example to follow," Moynihan told BI over email. "His life lessons delivered to young and old are as valuable as his business acumen. I have personally learned so much from him and look forward to continuing to benefit from his insights. He has been a tremendous supporter and investor in Bank of America and our nation's economy and the innovative spirit of the United States."

Bill Ackman

Bill Ackman, the billionaire CEO of Pershing Square Capital Management, said on Monday he "wouldn't bet against Berkshire."

"I think they will be a little bit more aggressive about buying back stock. I don't see Berkshire waking up in six months and Berkshire announcing $100 billion acquisition," Ackman told CNBC's "Squawk Box."

The billionaire hedge fund manager said that Buffett's replacement, Greg Abel, "is a superb operator" who nonetheless may be cautious early on.

"I think the new CEO will be and the new board, not the new board, the current new CEO and the current board will be a little bit more careful on the first deals because if Berkshire's first deal turns out not to be a good one, you know, I think that the market will kind of frown upon that," Ackman said. "But I think the business will do very well."

Bill Gross

Billionaire investor and PIMCO cofounder Bill Gross told Business Insider via email that Buffett's vision set him apart from other investors.

"His vision was not limited to an optimistic vision of the future," Gross told BI. "Through his insurance holdings that by their structure allowed for the investment of premiums at a near zero cost into higher returning assets such as Coke, AMEX and Apple and in so doing he created a spread which over time led to billions and the recognition not just as a stock picker but as a financial structural wizard."

Gross also congratulated Buffett and recalled on X the first time his firm gave Berkshire one of its first loans in the mid '70s.

"I knew nothing about insurance and candy stores but was sold by his long-term vision of the economy and markets," Gross wrote. "Congratulations my friend — not just on the numbers — but on the philanthropy and the years. Having a cherry Coke with you was a highlight of my career."

Mark Cuban

Cuban told Business Insider in an email that Buffett was his "investing hero" and shared a photo of him with the investing legend at a Dairy Queen in Omaha.

"We used to go to DQ in Omaha," Cuban wrote. "It was the highlight of my year."

Following the announcement, Cuban also reposted on X a video showing Buffett receiving a standing ovation during the annual Berkshire Hathaway meeting.

Spencer Hakimian

Hakimian, the founder of Tolou Capital Management, shared a video on X of Buffett receiving a standing ovation from the crowd at Berkshire Hathaway's annual meeting.

"Curtain call for the captain," Hakimian wrote.

Ron Olson

Olson, a Berkshire Hathaway board member, told CNBC that Buffett has "lived a life full of surprises. Very few of his decisions have been anything but sensational. I am very anxious to see Warren become the Charlie Munger for Greg Abel."

Olson also believed Abel "is ready" for the role.

"I have no doubt about that. We've known it for a long time," Olson told the outlet.

French Hill

The Arkansas GOP congressman and former businessman told CNBC that Buffett, Abel, and Berkshire Hathaway's board "have done a magnificent job over the last decade preparing shareholders for today."

Hill added that he's admired Buffett since his college days.

"When I got out of government in 1993 and went back to the private sector in investment management, it was Warren Buffett who was my role model — a man I've never personally met, but I've admired all these years," Hill told the outlet.

Stephen Squeri

The chairman and CEO of American Express told Business Insider via email that Buffett "has had one of the most storied careers in the history of American business."

Squeri added that Buffett's "vision and deep sense of responsibility to shareholders is unmatched, and his humility and humor are rare qualities in a leader that have made working with Warren a delight."

He added that American Express, in which Berkshire Hathaway holds a minority stake, looks forward to "continuing to work with Greg as he builds upon Warren's legacy."

Seth Klarman

The CEO of the Baupost Group hedge fund told BI over email that Buffett ran an "investment marathon" for decades and excelled in all conditions.

"But he is more than an investor — he is a visionary business leader, teacher, role model, and philanthropist. I've always seen him as a mentor, and I suspect he'll keep contributing in all of these spheres far into the future. There will be no other like him!"

Howard Marks

The co-chairman of Oaktree Capital Management told BI in an email that it is "impossible" for anyone to measure up to Buffett.

"He is the single most influential investor of all time — the Isaac Newton of investing," Marks said.

"He says when he started in the early 1950s, he was able to buy dollars for 50 cents — and he makes it sound easy," Marks added. "But the thing is, even if the opportunities were there, nobody else did it. There weren't multiple Warren Buffetts."

Jim Cramer

Jim Cramer, the host of the CNBC show "Mad Money," called Buffett "our only G.O.A.T." in an X post on Sunday.

"In awe of Buffett and congratulate him on the greatest run of all time," Cramer wrote.

• Judge Beryl Howell, in a Friday ruling, blocked Donald Trump's executive order against Perkins Coie.
• Howell called Trump's efforts to target lawyers a "cringe-worthy" twist on Shakespearean villainy.
• Howell's ruling is the first decision fully blocking one of Trump's orders against Big Law firms.

US District Judge Beryl Howell, in a scathing Friday ruling, struck down President Donald Trump's executive order against Perkins Coie, declaring his effort to target the Big Law firm unconstitutional.

Howell's summary judgment decision fully blocks Executive Order 14230, titled "Addressing Risks from Perkins Coie LLP," from taking effect. It is the first such decision in the myriad legal challenges to Trump's orders targeting various Big Law firms.

The federal government can appeal the decision, in which case the proceedings will be heard in the court of appeals. Any subsequent appeal would be heard by the Supreme Court.

A spokesperson for Perkins Coie told Business Insider in a statement that the firm was pleased with the judge's ruling.

"This ruling affirms core constitutional freedoms all Americans hold dear, including free speech, due process, and the right to select counsel without the fear of retribution," the statement said. "As we move forward, we remain guided by the same commitments that first compelled us to bring this challenge: to protect our firm, safeguard the interests of our clients, and uphold the rule of law."

Cases involving other firms — including Jenner & Block and WilmerHale — have pending motions to dismiss and have been granted temporary restraining orders partially blocking the orders from being implemented.

'The first thing we do, let's kill all the lawyers'

"No American President has ever before issued executive orders like the one at issue in this lawsuit targeting a prominent law firm with adverse actions to be executed by all Executive branch agencies but, in purpose and effect, this action draws from a playbook as old as Shakespeare, who penned the phrase: 'The first thing we do, let's kill all the lawyers,'" Howell wrote regarding the order targeting Perkins Coie.

The phrase is a reference to "Henry VI," one of three historical plays published by Shakespeare following the lifetime of King Henry VI of England. It is uttered by the villainous character Dick the Butcher, a henchman for the rebel leader Jack Cade, as part of the pair's strategy to seize power from the government of King Henry VI.

"Eliminating lawyers as the guardians of the rule of law removes a major impediment to the path to more power," Howell continued in her ruling. "In a cringe-worthy twist on the theatrical phrase 'Let's kill all the lawyers,' EO 14230 takes the approach of 'Let's kill the lawyers I don't like,' sending the clear message: lawyers must stick to the party line, or else."

An order 'contrary to the Constitution'

Howell, who was appointed to District of Columbia federal court in 2010 by then-President Barack Obama, wrote that Trump's order "stigmatizes and penalizes" the firm and its employees due to its representation of clients "pursuing claims and taking positions with which the current President disagrees, as well as the Firm's own speech."

"Using the powers of the federal government to target lawyers for their representation of clients and avowed progressive employment policies in an overt attempt to suppress and punish certain viewpoints, however, is contrary to the Constitution, which requires that the government respond to dissenting or unpopular speech or ideas with 'tolerance, not coercion,'" Howell wrote.

Trump's order against Perkins Coie described the firm's activity as "dangerous and dishonest," highlighting the firm's representation of then-presidential candidate Hillary Clinton in her 2016 run against Trump.

The executive order, along with similar actions Trump has taken against other firms, revoked the security clearances of employees of the firm, barred the law firms' employees from interacting with federal agencies or even entering federal buildings, and ordered a review of their government contracts.

Fighting back

While Perkins Coie was among several firms that chose to fight Trump's executive order in court, other Big Law firms instead brokered deals with the administration to reverse the president's orders, and some made preemptive deals to avoid punitive executive actions against them.

The executive order targeting Paul Weiss was rescinded after the firm pledged $40 million in pro bono services to support causes identified by the Trump administration and promised to review its diversity, equity, and inclusion initiatives in its hiring practices.

Skadden made a deal with Trump before it was singled out in any executive orders. The firm promised to provide $100 million in pro bono legal services "to causes that the President and Skadden both support," Trump announced on March 28.

Before the preemptive agreement was announced, Skadden associate Rachel Cohen publicly resigned and, in an open letter circulated among associates at top firms, urged her fellow legal associates to call out their employers for what she described as inaction in the face of the administration's attacks on the industry.

After the Skadden deal was announced, another employee, Brenna Frey, also resigned publicly in an announcement on LinkedIn.

Representatives for the White House and lawyers representing the Department of Justice did not immediately respond to requests for comment from Business Insider.

Have a tip? Contact this reporter via email at [email protected] or Signal at byktl.50. Use a personal email address and a nonwork device; here's our guide to sharing information securely.

• Apple released its Q2 earnings report on Thursday, beating revenue and earnings-per-share estimates.
• The earnings call touched on tariffs, consumer behavior, and legal challenges facing the company.
• Here are the six biggest takeaways from the tech giant's Q2 earnings report and subsequent call.

Apple released its Q2 earnings on Thursday, reporting mixed results that sent stocks sliding more than 3% in after-hours trading. In its call with analysts and investors, the tech giant touched on topics including tariffs, consumer behavior, and legal challenges facing the company.

Here are six takeaways from the earnings call.

1. $900 million possible tariff hit

Apple discussed the potential impact that looming tariffs imposed by President Donald Trump's administration will have on its business, projecting that the levies will add $900 million in costs in the June quarter.

"This estimate should not be used to make projections for future quarters, as there are certain unique factors that benefit the June quarter," CEO Tim Cook said during the call. "For our part, we will manage the company the way we always have: with thoughtful and deliberate decisions, with a focus on investing for the long term and with dedication to innovation and the possibilities it creates."

While Cook was somewhat vague about the estimate, Business Insider's Peter Kafka wrote that Cook seemed to suggest that the $900 million number will hold if the current tariffs remain in place, if electronics-related tariffs remain paused or if they restart, and if Apple can ship most of the products it plans to sell in the US from countries outside China.

Cook said that for the June quarter, "most of our tariff exposure relates to the February IEEPA-related tariff at the rate of 20%, which applies to imports to the US for products that have China as their country of origin."

Cook didn't answer whether Apple is considering eating those costs or passing them along to consumers.

2. Buyers didn't rush to get iPhones amid tariff talk

In response to a question from a Morgan Stanley analyst, Cook said the company didn't see any "obvious evidence" that customers were spooked enough by the talk of tariffs to go out and splurge on a new iPhone just yet — or any Apple product, for that matter.

"If you look at our channel inventory, from the beginning of the quarter to the end of the quarter, the unit channel inventory was similar, not only for iPhone, but for the balance of our products," Cook said.

Cook added that Apple did try to frontload some of its purchasing to circumvent the worst effects of the tariffs, but demand remained relatively flat.

3. Siri's newest features are delayed — again

Apple once again pushed back the launch of more personalized Siri features, like increased on-screen awareness and better contextual memory of your prior communications with friends and family, which were previously announced as part of Apple Intelligence.

These features, originally expected to launch with iOS 18, were delayed once already in March and do not have a new launch date.

"With regard to the more personal Siri features we announced, we need more time to complete our work on these features so they meet our high quality bar," Cook said. "We are making progress, and we look forward to getting these features into customers' hands."

4. Apple is still fighting its Epic Games battle

In a Wednesday filing released just ahead of Apple's Q2 earnings, District Judge Yvonne Gonzalez Rogers lambasted the company and its executives for their behavior during the Epic Games antitrust case, writing that they violated a 2021 injunction.

"The case yesterday, we strongly disagree with," Cook said during the Thursday call. "We've complied with the court's order, and we're going to appeal."

Rogers, in her order, wrote that an executive "outright lied" to the court while under oath about when Apple decided to impose a 27% commission fee on transactions facilitated through its App Store.

The court referred the matter to the United States Attorney for the Northern District of California "to investigate whether criminal contempt proceedings are appropriate."

Cook added that the company is monitoring the situation closely but didn't have anything additional to add, except that "there's risk associated" with the court's referral for further investigation and "the outcome is unclear."

5. Apple's plans to manufacture in the US

Cook opened the earnings call by spotlighting its plans to boost manufacturing in the US, reminding investors of a recently announced $500 billion domestic investment over the next four years.

"We're going to be expanding our teams and our facilities in several states, including Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina, and Washington," Cook said. "And we're going to be opening a new factory for advanced server manufacturing in Texas."

Tariffs for electronics like smartphones, computers, and chips were paused on April 11, but market analysts have told BI that there is still a risk that those surcharges could return at any time. The majority of Apple's products are still produced in China.

6. Apple is shifting manufacturing to India

Despite commitment to invest in US manufacturing, Cook says he expects that the "majority" of iPhones sold in the US during the June quarter "will have India as their country of origin."

Meanwhile, Cook said that nearly all of the company's other products entering the US will come from Vietnam. However, he added that China would remain the primary manufacturing hub for Apple products sold to the rest of the world.

Analysts have cautioned that manufacturing in India would cost Apple 5% to 8% more than it does in China, which would potentially squeeze margins and add logistical hurdles.

India and Vietnam each faced 26% and 46% in additional tariffs, respectively, prior to Trump's 90-day pause on April 9. These tariffs could come back if no deal is made by the time the pause ends.

• Former national security advisor Mike Waltz has been nominated for UN Ambassador, Trump said Thursday.
• A day before the news broke, Waltz was photographed using Signal during a cabinet meeting.
• The Trump administration has previously faced criticism over officials, particularly Waltz, using Signal.

On Wednesday, before news of his ouster broke, now-former national security advisor Mike Waltz was photographed during a Cabinet meeting looking at what appeared to be the encrypted messaging app, Signal.

He was a key player in a Signal snafu in President Donald Trump's second administration, referred to online and in some media coverage as "Signalgate." The Atlantic's editor in chief was inadvertently included in a sensitive defense conversation about military action in Yemen being conducted in a group chat through the app.

Trump announced Waltz's ouster via social media on Thursday.

Trump plans to nominate Waltz as the next United States Ambassador to the United Nations, according to a post the president shared on Truth Social, adding that Waltz has "worked hard to put our Nation's Interests first" and will continue to do so in his new role.

Secretary of State Marco Rubio will now also be acting national security advisor.

Waltz, a former Army Special Forces soldier, previously represented Florida's 6th congressional district from 2019 to 2025 before becoming Trump's national security advisor in January.

In a photo of Thursday's cabinet meeting, a contact with the name of Vice President JD Vance and portions of a message were visible, as were additional message threads. Although the view of the content was obstructed, the last names "Rubio," "Witkoff," and "Gabbard" were visible, potentially referencing the Secretary of State, United States Special Envoy to the Middle East Steve Witkoff, and United States Director of National Intelligence Tulsi Gabbard.

Representatives for Rubio, Witkoff, and Gabbard did not immediately respond to requests for comment from Business Insider.

The bottom of Waltz's phone's screen displays a message that looks like Signal's typical PIN verification message, but instead, the message displayed asks Waltz to verify his "TM SGNL PIN." The "TM SGNL PIN" message is displayed on an unofficial — and less secure — version of Signal created by a company called TeleMessage, which makes clones of popular messaging apps, but enables the ability to archive messages, 404 Media and The Washington Post reported.

Trump, in an interview with The Atlantic published on Monday, said, "I would frankly tell these people not to use Signal." The outlet's editor in chief, Jeffrey Goldberg, said last month that he had been inadvertently added by Waltz to a group chat on the app.

The Signal group chat Goldberg says he was added to, called "Houthi PC small group" contained other officials, including Secretary of Defense Pete Hegseth, and included discussion of details of a planned US strike on Houthi rebels.

Business Insider previously reported that a former Pentagon spokesperson described the Signal incident involving Goldberg as causing a "full-blown meltdown" at the Pentagon, and "a real problem for the administration."

However, despite widespread public criticism, Waltz and some other administration officials still appear to be using the app.

"As we have said many times, Signal is an approved app for government use and is loaded on government phones," White House Deputy Press Secretary Anna Kelly told Business Insider of Waltz's use of the app.

A spokesperson for Vance did not immediately respond to a request for comment from Business Insider.

Under President Joe Biden's administration in 2024, the Cybersecurity and Infrastructure Security Agency (CISA) released a guide "for all audiences" outlining the best practices for secure personal communications amid a cybersecurity attack linked to the Chinese government. The CISA guide included Signal as an option for safer personal messaging.

However, guidance released by the Department of Defense during the Biden administration explicitly said that unmanaged messaging apps, including Signal, "are not authorized to access, transmit, process non-public DoD information."

• A judge on Wednesday said that Apple was not complying with a 2021 injunction in the Epic Games case.
• Apple ignored a court order and an executive "outright lied under oath," the judge wrote.
• An Apple spokesperson told Business Insider the company "strongly" disagrees with the court's decision.

District Judge Yvonne Gonzalez Rogers, in a Wednesday filing, lambasted Apple and its executives for their behavior during the Epic Games antitrust case, writing that they violated a 2021 injunction in the case.

Rogers, in her order, wrote that Alex Roman, Apple's vice president of finance, "outright lied" to the court while under oath about when Apple decided to impose a 27% commission fee on transactions facilitated through its App Store. Roman did not immediately respond to a request for comment.

"Neither Apple, nor its counsel, corrected the, now obvious, lies," Rogers wrote. "They did not seek to withdraw the testimony or to have it stricken (although Apple did request that the Court strike other testimony). Thus, Apple will be held to have adopted the lies and misrepresentations to this Court."

The court referred the matter to the United States Attorney for the Northern District of California "to investigate whether criminal contempt proceedings are appropriate."

The ruling stems from a case brought against Apple by the video game developer Epic Games in 2020, in which Epic Games accused Apple of engaging in anticompetitive practices related to its control over the App Store and in-app payment systems.

In 2021, following a trial, the court ruled that Apple's restrictions on in-app purchasing methods outside the one offered by the App Store were indeed anticompetitive. The ruling largely favored Apple, finding that the company had engaged in anticompetitive behavior in only one of 10 counts.

The Court then issued an injunction forcing Apple to allow developers to inform users about external purchasing options, but Rogers says the company refused to comply with the injunction. She wrote that

"Apple's response to the Injunction strains credulity," Rogers wrote in the Wednesday filing. "After two sets of evidentiary hearings, the truth emerged. Apple, despite knowing its obligations thereunder, thwarted the Injunction's goals, and continued its anticompetitive conduct solely to maintain its revenue stream. Remarkably, Apple believed that this Court would not see through its obvious cover-up."

An Apple spokesperson told Business Insider that the company "strongly" disagrees with the court's decision.

"We will comply with the court's order, and we will appeal," the spokesperson said.

• Microsoft reported its third-quarter results on Wednesday, surpassing analysts' estimates.
• The company reported $70.1 billion in revenue and earnings per share of $3.46.
• Strong demand in Cloud services and AI infrastructure drove big growth, Microsoft's CEO said.

Microsoft reported it beat analysts' estimates in its third-quarter earnings released Wednesday.

"Cloud and AI are the essential inputs for every business to expand output, reduce costs, and accelerate growth," Satya Nadella, chairman and chief executive of Microsoft, said in a press release published ahead of the Q3 call. "From AI infra and platforms to apps, we are innovating across the stack to deliver for our customers."

Microsoft's stock rose over 6% in after-hours trading after the earnings report was released.

"This was a strong, steady quarter from a company that's matured into its AI moment," said Jeremy Goldman, senior director of briefings at EMARKETER, a sister company of Business Insider. "Yes, growth is slowing in places like LinkedIn. Yes, infrastructure pullbacks raise questions. But Microsoft's ability to turn AI enthusiasm into real revenue — and real margins — sets it apart in a field crowded with promise but short on payoff."

Search and news ad revenues grew a healthy 21%, buoyed by Microsoft's early experiments with AI-powered Copilot ads, but the standout in the Q3 report was that Azure and other cloud services beat Street expectations, Goldman said.

"Still, investors will be watching closely as the company continues to pull back on data center expansion—a signal that even Microsoft sees the need to balance ambition with discipline in a shifting macro climate," Goldman added.

Ahead of Microsoft's earnings call on Wednesday, analysts at Piper Sandler said Microsoft "is in an enviable position as the world's largest software platform." Still, investors could be hypersensitive to Azure and the company's capital expenditure metrics.

"Bottom-line, capex-heavy models like MSFT and ORCL (among others) may face rising investor scrutiny, elevating near-term volatility on downstream policy and tariff implications," the analyst note, published April 24, said.

Here are the key numbers for the third quarter compared to analysts' estimates compiled by Bloomberg:

• Earnings per share: $3.46 vs. $3.21 expected
• Revenue: $70.1 billion vs. $68.48 billion expected
• Microsoft Cloud revenue: $42.4 billion vs. $42.22 billion
• Intelligent Cloud revenue: $26.8 billion vs. $25.99 billion

Big Tech companies like Microsoft are racing to lead the AI industry, which UBS said will grow into a $225 billion market by 2027.

In addition to domestic rivals like Google, Microsoft is also competing against Chinese developers. DeepSeek, based in Hangzhou, emerged as a notable contender earlier this year.

During its second-quarter earnings call in January, Microsoft said sales related to Azure and other cloud computing services grew 31% during Q2, which fell slightly below analysts' expectations.

At the time, CFO Amy Hood told investors that Microsoft was in "a pretty constrained capacity place" regarding its ability to provide enough data centers to meet demand for artificial intelligence.

Earlier this month, BI reported that Microsoft is simplifying how it sells AI, which falls under Copilot. People in the organization told BI that the current system confuses customers, slows down sales, and impacts the cost and quality of the tools.

Correction: April 30, 2025 — An earlier version of this story misstated the day of the earnings call. It took place on Wednesday, not Thursday.

• Starbucks announced during its Tuesday earnings call that it's exploring a new aperitivo menu.
• Aperitivo is a pre-dinner ritual in Italy involving a drink or light snack to awaken the appetite.
• Starbucks' new menu may feature "sparkling beverages, sippable coffee drinks, and snackable bites."

Starbucks is taking a lesson from the iconic coffee houses of Italy as it tries to return to its roots as the "third place" where people spend time in addition to work and home.

During the company's Tuesday earnings call, Starbucks CEO Brian Niccol announced that the international coffee chain is exploring plans to launch a new aperitivo menu. He did not specify when any new offerings would be rolled out.

"We're using learnings from the launch of freshly baked and prepared items in the UK and other international markets to inform our test and scale approach in the US," Niccol said. "To help reclaim the Third Place and boost the afternoon day part, we're also exploring an apertivo menu that includes sparkling beverages, sippable coffee drinks, and snackable bites."

Aperitivo is a beloved cultural ritual practiced in Italy. It involves a drink or light snack enjoyed before dinner to awaken the appetite.

"It's early days, but we're moving quickly to improve the appeal of our product pipeline and to support real-time culturally relevant menu innovation," Niccol said.

When asked by an analyst about whether Starbucks plans to split its menu into daytime and evening offerings, Niccol said the company is focused on honing its strategy to deliver beverages and food "for the occasions that move throughout the day."

An aperitivo offering, Niccol said, "would be available in the afternoon from like, say, two to five."

"You know, we definitely want to reinforce the artisanal, the craft aspect that we provide for when people want to have that little snack or that little pick-me-up drink in the afternoon," Niccol said. "And it gives us some flexibility to do some different things in the afternoon that maybe we wouldn't be able to do in the morning."

A spokesperson for Starbucks told Business Insider the company is "still exploring the aperitivo menu" and will share more details as they become available.

Since Niccol stepped into the role of CEO in September, he dubbed his strategy for the massive international chain his "Back to Starbucks" plan.

The brand was facing slumping sales, long wait times, and complaints about its customer experience.

Niccol has tried to reverse those issues and encourage customers to linger in store by bringing back the self-serve condiment bar, comfy chairs, and handwritten notes from baristas on customers' to-go cups, which he said would improve the café experience.

To reduce wait times to four minutes or less, Niccol also announced plans to eliminate 30% of its menu, including some of its most complicated drinks, and introduced a new mobile ordering system.

While Niccol said ahead of Tuesday's call that the "Back to Starbucks" plan has garnered "real momentum," the chain's second-quarter results came in slightly below expectations.

Starbucks stock was down more than 6% in after-hours trading at the time of publication.

• The AI field faces a significant talent shortage, with too few skilled workers to fuel the industry.
• Quantum computing startups have noticed and are trying to avoid the same problem.
• Some quantum companies are funding certificate programs and university courses to train new talent.

Quantum computing companies are learning from missteps made during the artificial intelligence boom and are investing heavily in training programs to ensure the fledgling industry maintains its momentum.

The goal is to avoid a talent shortage like the one AI companies are trying to navigate. While hiring for AI-related roles has surged in recent years, the pool of potential workers with the educational background and technical know-how to train large language models, write AI algorithms, and engineer new AI applications hasn't kept up.

Erik Garcell, director of quantum enterprise development at quantum computing software company Classiq Technologies, told Business Insider that quantum computing companies have taken notice of the hiring challenges facing the AI industry and are trying to circumvent them before they become a problem.

"At Classiq, we actually have a whole academic program we're kicking off here, working with universities to deploy quantum curriculum, because not every school has one, and those that do, we're trying to advocate for more of the hands-on practicum side of things," Garcell said.

Research published by the international consulting firm Randstad in November found that 75% of companies adopt AI and hire for AI-related roles. Still, just 35% of talent have received AI training in the last year. That labor pool comes with a significant age gap, with just one in five baby boomers being offered AI skill development opportunities, compared to almost half of Gen Z workers, and a 42 percentage point gender gap favoring men.

That gap persists despite a surge in the need for new talent. PwC found in its 2024 Job Barometer that the share of jobs that require specialized AI skills has grown 700% since 2016 — three times the rate of other job types — and having AI skills comes with the potential for a 25% wage premium.

The talent pool in the quantum industry, which is just a fraction of the size of the AI field, is even smaller, but demand is growing. The trade publication The Quantum Insider reported that quantum computing is expected to create an estimated 250,000 new jobs by 2030, jumping to 840,000 by 2035.

Preparing for quantum's 'ChatGPT moment'

Quantum computing is a rapidly evolving field attracting major interest from tech giants like IBM, Microsoft, Nvidia, and Google. Since it combines computer science, math, and quantum mechanics, it remains deeply technical and expensive to advance.

But while the industry is still in its infancy, Garcell said the major players in the quantum field believe its potential benefits — including advancements in medicine, materials science, and cybersecurity — are worth early investment to ensure a talent shortage doesn't derail its progress.

"IBM really did put out quite a lot of really good educational content for quantum computing; they nurtured the industry very early on with a lot of that," Garcell said. "I'm very happy to say that they have a lot of really great learning available, same with companies like Pennylane, just great educational content for free that you can start diving into."

IBM has partnered with quantum startups like Q-CTRL to build its quantum learning program, which includes free online courses outlining fundamental topics like building quantum algorithms and error-correcting codes. Other companies, like Google, Pennylane, and Microsoft, offer similar independent courses with certificates of completion to identify those with in-demand quantum skills that recruiters are searching for.

The Massachusetts Institute of Technology, the University of Chicago, and the University of California, Berkeley, offer some of the most comprehensive quantum computing courses available at academic institutions.

Garcell said he recently taught a three-day introductory course at MIT to introduce the university's student body to quantum technology. The school also partners with Classiq to offer an official certification course online.

"Right now is just a great time for finding content out there for those who just want to get their hands dirty with quantum computing," Garcell said. "In the industry, there's been a lot of talk about when we're going to have the 'ChatGPT moment,' where everyone turns their head and goes, 'Oh, this technology exists!' where they might not have known it existed before. People are going to start turning their heads, and it's going to make a lot of noise — we just want to be ready."

• President Donald Trump's tariff strategy is already causing price hikes and supply chain snarls.
• Logistics experts and shipping industry insiders told BI the effects are only going to intensify.
• Consumers can expect inflation, stock shortages, and higher unemployment, the experts said.

President Donald Trump's tariffs are already wreaking havoc on the supply chain, and several experts believe it could get worse.

Business Insider spoke with nine supply chain researchers, shipping industry insiders, and logistics specialists about the timeline for when consumers might expect to see the most significant effects of Trump's aggressive trade policy, should he maintain his current strategy.

They agreed that, in the coming weeks, Americans can expect major disruptions to the prices and availability of goods — store shelves may be emptier, prices will rise, and some products will run out sooner than others.

And if things continue on the current trajectory, four of them said, by the end of the year, those effects could be compounded, leading to higher domestic unemployment rates, global market instability, and increased geopolitical tensions.

Shipping rates are already down

Bookings of ocean freight shipments have been down significantly in the weeks since Trump's sweeping tariffs took effect. Though on April 9, the president paused his higher tariffs on goods from many countries for 90 days, his 10% baseline tariff on all countries remains in effect, as does his 145% tariff on imported Chinese goods.

During the first week of April, following Trump's initial April 2 tariff announcement, ocean freight container bookings saw a sharp global decline of nearly 50%, according to data from the digital logistics company, Vizion. Specifically, imports into the US fell 64% compared to the previous week, including imports from China to the US, which dropped 36%. Exports out of the US also dropped 30%, according to Vizion data.

In the following weeks, that nosedive continued in what Vizion has called a "tariff shockwave." For the week of April 14, ocean freight container bookings showed that overall US imports declined 12% week over week, and imports to the US from China declined 22% week over week, Vizion data shows.

"This is a big deal," Bob Ferrari, a supply chain executive and managing director of the Ferrari Consulting and Research Group, told Business Insider of the changes in shipping volume. "It has a lot of ramifications because it's something that the system is not equipped to deal with, and businesses are not equipped to deal with. It has a lot of far-reaching implications."

Front-loaded inventory is running low

Before Trump took office, let alone announced or implemented his tariffs plan, many major companies brought in extra inventory of products to the US in an attempt to mitigate the impact of potential tariffs, multiple supply chain experts told Business Insider. Trump implemented tariffs on countries including Mexico, Canada, and China during his first term and made tariffs a central part of his reelection campaign.

"I would say between one and three months of inventory, they tried to bring in early," Lisa Anderson, a supply chain expert and president of LMA Consulting, said.

But that buffer will run out — and soon.

With the tariffs against China currently at 145%, many companies have been forced to cancel their shipments of new stock and are in a holding pattern trying to wait out Trump's 90-day tariff pause to see what changes come next before placing big orders, Chris Tang, a University of California, Los Angeles professor who's an expert in global supply chain management and the impact of regulatory policies, told Business Insider.

"Right now, they're canceling orders, so the inventory will be running low, " Tang said of businesses. "And once they sell off this inventory, then it's either higher prices or no products."

According to data from supply chain research and analysis firm Sea Intelligence, canceled bookings of container shipments from Asia to both coasts of the US over the next few weeks are increasing drastically, in what the company calls a "quite extreme" scenario.

Multiple supply chain analysts told Business Insider that, in a normal business cycle, June through August is when end-of-year imports, like back-to-school supplies, fall products, and holiday merchandise, arrive in US ports. But the decreased volume of shipments and increased cancellations of shipment bookings that the industry is already seeing indicate that the normal cycle could be significantly disrupted, they said.

"There may be short-term stockouts, particularly in retail," Sean Henry, founder and CEO of the logistics startup Stord, told Business Insider. "And with brands streamlining their product lines, there will be a tighter selection of products in certain categories."

Ryan Petersen, the founder and CEO of Flexport, told Business Insider that if Trump makes a deal to lower the tariffs in time to bring back shipping bookings before inventory completely runs out, there will be minimal impact on consumers.

"But if there's no deal, then yes, there will be big shortages," Petersen said. "Probably worse than anything we've seen in our lifetimes."

Trump told Time on April 22 that he believes seeing tariffs as high as 50% in the next year would be a "total victory."

The 'bullwhip effect'

If the shortages start, further price hikes would be close behind, Ferrari said. Low-margin products that companies don't make a lot of money from — like toys, apparel, holiday items, and home goods — could see shortages and price hikes sooner than others, Ferrari said.

The exact date when Americans could start seeing the effects of those product shortages depends on how much pre-inventory companies have loaded up, Ferrari said, but added that consumers could see some price hikes as early as May or June.

"But once that occurs, then it'll be cascading," he added. Appliances and electronics could see the next round of price hikes and possible shortages starting in July or August, Ferrari said. And despite Trump's exemption of some electronic devices from tariffs, not every component of every device is included in that exemption, so Ferrari expects those to be affected as well.

Higher prices could then decrease consumer buying habits through major spending seasons, exacerbating the negative effects on the economy, Nick Vyas, the founding director of USC Marshall's Randall R. Kendrick Global Supply Chain Institute, told Business Insider.

"Imagine a mom, if her budget for back to school is exposed to 50%, 60% even 70% inflation, they will not be able to expand their budget to absorb that," Vyas said. "She will just say, 'Hey, if I was going to buy 10 things, now I'm only going to buy five things.' So that actually creates less demand, which creates consumer spending degradation. And all of a sudden, you start to see economic activity slow down, and this creates what we call in supply chain the bullwhip effect."

If consumers choose not to go out and spend money due to increased prices, demand decreases, Vyas said. Then, when all the backlogged supply that had been deferred and delayed in hopes that the trade environment would stabilize hits the market, there'll be no one interested in buying it.

"All of a sudden, now you have an imbalance between supply and demand," Vyas said. "And this becomes really the sort of crisis that we dealt with initially in COVID times, which was not pretty, where we had nothing, then too much of something, then nothing, then too much. When you go back and forth like that, the bullwhip is really bad for the market. It's bad for the industry. It's bad for retailers — for everybody."

The potential impacts in the long run

The longer it takes to work out a trade deal with China that lowers tariffs, the worse things could get for everyday Americans four supply chain analysts told Business Insider.

Margaret Kidd, an instructional associate professor of supply chain and logistics technology at the University of Houston, told Business Insider that the volatility of Trump's tariff policy is being compounded by numerous trade negotiations, the ongoing trade war with China, and potential new tariffs on pharmaceuticals, truck imports, and even Chinese ships.

"In the end, American consumers bear the brunt and become the downside partners of President Trump's tariff policies," Kidd said. "His approach could soon earn him the title of 'The President Who Canceled Christmas.'"

A continued trade war also has the potential to hurt US businesses.

Petersen told Business Insider the impact of decreased freight bookings "is already being felt."

"American companies are importing these goods, and if they have to cancel their bookings, their business is really suffering," Petersen said.

That means small and medium-sized businesses could close up shop for good, and hundreds of thousands of jobs could be lost across the retail, shipping, and logistics industries.

The Budget Lab at Yale on April 15 estimated that, if Trump's tariff strategy continues without deals, the US unemployment rate could increase by 0.6 percentage points by the end of 2025, and there could be 770,000 fewer people on payrolls.

And the international repercussions could be even more significant, Vyas and Tang said.

"If not managed properly, this could create a huge risk and drag the global economy into a tailspin," Vyas said. "And it would be a very difficult shock for us to absorb as a society, because the recovery process and the global trade world order could really go into disarray, which is actually contrary to what he's trying to accomplish."

In just a short period of time, Tang said Trump's current trade strategy could erode decades of relationship-building with our existing trade partners like Canada and Mexico. Vyas said that tension could drive our allies to create their own trade routes with China — the exact opposite effect of Trump's goals.

But Vyas said his biggest concern is the potential geopolitical conflict that could arise out of the trade war.

Still, he said he's optimistic that Trump will use the 90-day pause to strike a deal with many countries, including China, to lower their tariff rate and avoid the worst of the possible outcomes.

"Because what is alternative? If we ratchet up the continued pressure on China, we create the huge destruction of the global economy, to the point that it's as bad as the Great Depression of 1928 or something even bigger than that," Vyas said. "So then, when you think from that standpoint, I would say, why not be optimistic, because the alternatives are not that pretty."

• Honda on Wednesday issued a return-to-office order for its US-based staff.
• The internal memo says that employees must work in the office at least 80% of the time by October 6.
• The automaker joins a list of major companies, including JPMorgan and Amazon, issuing RTO orders.

Honda on Wednesday issued a return-to-office order for its US-based staff, according to an internal memo viewed by Business Insider.

"As Honda faces a rapidly changing business environment and increasingly competitive market conditions, we believe it is essential for associates to return to working primarily at on-site offices. Therefore, effective October 6, 2025, Honda is requiring associates to work on-site at least 80% of their work week," the memo reads.

The memo says spontaneous interactions between staff members are "critical" to driving innovation at the company, and working on-site will promote essential in-person collaboration and problem solving. It was signed by Kazuhiro Takizawa, the president and CEO of American Honda Motors Co., and Kensuke Oe, the president of Honda Development & Manufacturing of America.

"This information is being shared with associates today to provide the longest timeline possible to begin to prepare for this transition," the memo continues. "Simultaneously, Honda is evaluation how this change will impact facilities, including cafeterias and common spaces, as well as studying other workstyle-related items to ease the transition and prepare sites for associates to be able to start reporting to the office as early as July 7, 2025."

Honda employs 30,000 associates in the US, with manufacturing plants throughout the country, including Alabama, Indiana, Ohio, North and South Carolina, and Georgia, according to its public employment statistics. Seventy-five percent of those employees work in manufacturing, and 24% in sales, research and development, and finance. It is unclear exactly how many Honda employees are remote workers.

"We understand that workstyle change is difficult, and associates will likely have many questions now and in the coming months," the memo reads. "But, we believe this will make Honda an even stronger and more competitive company for the future."

When reached by Business Insider, a spokesperson for Honda confirmed the RTO order and its October 6 deadline.

"Beginning October 6, Honda will return to a majority onsite work style requiring our associates to work on-site 80% of the time," the spokesperson said. "This decision is driven by the rapidly changing business environment, which requires increased collaboration and innovation that we believe can best be achieved through in-person teamwork. Our work policy will continue to provide flexibility for our associates to work remotely up to 20% of the time."

With its Wednesday memo, Honda joins a list of major companies, including JPMorgan and Amazon, that have issued RTO orders.

Read the full memo below:

This email is intended for US associates at American Honda, American Honda Finance Corp., American Honda Foundation, Honda Development & Manufacturing of America, and Honda Racing Corp. USA.

As Honda faces a rapidly changing business environment and increasingly competitive market conditions, we believe it is essential for associates to return to working primarily at on-site offices. Therefore, effective October 6, 2025, Honda is requiring associates to work on-site at least 80% of their work week

Increasing opportunities for spontaneous interaction and Y-Gaya style discussions is needed to drive innovation, strengthen our Challenging Spirit and maintain a customer-centric focus. This is critical to Honda's Second Founding.

Additionally, in keeping with the Honda PHilosophy, working primarily on-site increases the likelihood of associates going "to the spot" to understand the real situation and address key problems by collaborating with teams, peers and leaders.

This information is being shared with associates today to provide the longest timeline possible to begin to prepare for this transition. Simultaneously, Honda is evaluation how this change will impact facilities, including cafeterias and common spaces, as well as studying other workstyle-related items to ease the transition and prepare sites for associates to be able to start reporting to the office as early as July 7, 2025.

We understand that workstyle change is difficult, and associates will likely have many questions now and in the coming months. But, we believe this will make Honda an even stronger and more competitive company for the future. We are committed to continuing communication, and you will see additional updates to support your team with this transition. If you have questions, please contact a member of your leadership team or local HR business partner.

Thank you for your support.

Kazuhiro Takizawa

President & CEO, American Honda Motor Co., Inc

Chief Officer, North America Regional Operations

Kensuke Oe

President, Honda Development & Manufacturing of America