• Two Anthropic researchers talked about how to embrace AI to build a successful career.
• Think about what you're doing and how AI can make it better, one researcher said.
• AI is reshaping job markets, affecting sectors like software engineering and consulting.

The secret to building a career in a world where AI is the main character: Lean into it, say two Anthropic researchers.

In an episode of the "Dwarkesh Podcast" released on Thursday, a pair of the researchers behind Claude — Sholto Douglas and Trenton Bricken — shared three strategies for early careers. They suggested thinking big picture, being lazy, and not letting a previous job stop you from working with AI.

Douglas, who works on reinforcement learning, said everyone should imagine what they want to do, now that AI can help.

"If you had 10 engineers at your beck and call, what would you do?" Douglas said. He added, "What problems, and domains suddenly become tractable? That's the world you want to prepare for."

He suggested that people gain technical depth by studying biology, physics, and computer science and that they think hard about what challenges they want to solve.

Bricken, who researches mechanistic interpretability at the AI company, said college students and young professionals should "be lazier" and outsource more to AI.

"You need to critically think about the things you're currently doing, and what an AI could actually be better at doing, and then go and try it," Bricken said.

The researchers' third piece of advice was about not letting "sunk costs" get in the way. Sunk costs are a concept in which people continue to invest more time and resources because so much has already been spent.

"Whatever kind of specialization that you've done, maybe just doesn't matter that much," Bricken said. "My colleagues at Anthropic are excited about AI. They just don't let their previous career be a blocker."

"It's not as if they were in AI forever," he added.

People across industries are talking about how to AI-proof their careers as AI chatbots and agents become more powerful and capable. The technology is displacing jobs in sectors like software engineering, content creation, and consulting.

Top tech leaders have said all professionals need to think about how AI can improve their workflows.

Last month, Uber's CEO, Dara Khosrowshahi, said people must stop perceiving AI as a "tech thing" and see it as a tool for everyone.

"Within Uber, we're a highly technical company — 30,000 employees — and not enough of my employees know how to use AI constructively," Khosrowshahi said, adding that the company is working to change that.

Nvidia's CEO, Jensen Huang, has repeatedly touted the use of AI agents in companies, saying that they will not only change every job but will also secure employment instead of hurting it.

"AIs will recruit other AIs to solve problems. AIs will be in Slack channels with each other, and with humans," Huang said late last year. "So we'll just be one large employee base if you will — some of them are digital and AI, and some of them are biological."

• Sergey Brin said he has used AI for leadership tasks, including delegating and promotions.
• Brin returned to Google in 2023 to develop AI products amid competition with OpenAI.
• Executives like Nvidia's CEO and Duolingo's CTO also use AI daily.

AI can help write boring emails, speed up coding, and even decide who gets promoted at one of the world's largest companies.

In an episode of the "All In" podcast released on Tuesday, Google cofounder Sergey Brin said he has been using AI for some of his leadership tasks since returning to the company.

"Management is like the easiest thing to do with the AI," Brin said.

Brin cofounded Google with Larry Page in 1998 and served as its president until stepping down in 2019. He returned to the search giant in 2023 to help develop AI products as the company races against startup competitors like OpenAI, Anthropic, and Perplexity.

On the podcast, Brin shared two ways he has been using AI for managing people at Gemini, Google's large language model team: delegating tasks and finding top performers.

Brin used an AI to condense group chat messages.

"It could suck down a whole chat space and then answer pretty complicated questions," he said. "I was like: 'OK, summarize this for me. OK, now assign something for everyone to work on.'"

Brin said that there were a few giveaways that he was using AI when he pasted things back into the chat, but it "worked remarkably well."

Brin said he also asked the AI tool who in the group chat should get promoted.

"It actually picked out this young woman engineer who I didn't even notice, she wasn't very vocal," he said. "I talked to the manager, actually, and he was like, 'Yeah, you know what? You're right. Like she's been working really hard, did all these things.'"

"I think that ended up happening, actually," Brin said of the promotion.

In the wide-ranging discussion about AI, Brin said AI could do certain things "much better" than humans, including tasks he is skilled at, such as math and coding.

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

How tech execs use AI

Brin joins a number of executives incorporating AI in their day-to-day work.

Earlier this month, Nvidia CEO Jensen Huang said he uses tools like ChatGPT and Gemini like a "tutor" every day.

"In areas that are fairly new to me, I might say, 'Start by explaining it to me like I'm a 12-year-old,' and then work your way up into a doctorate-level over time," Huang said.

This week, Duolingo's chief technology officer said that AI is part of his three-step leadership principle. Once he decides a task must be done, he tries to see if it can be automated with ChatGPT.

Still, not every tech executive is ready to outsource their management duties to AI just yet.

LinkedIn's chief operating officer, Dan Shapero, told Business Insider last month that he still likes to do the "human parts" of his job.

"While AI has shown that it can synthesize information, I'm not sure that it's shown that it can inspire a team or that it can connect with people at a deeper level," Shapero said.

• Duolingo's tech chief, Severin Hacker, uses a "reduce, automate, delegate" leadership strategy.
• He said it's important to strike a balance between being in "founder mode" and being a manager.
• Hacker said he adapted his leadership style as the company grew to 800 people.

Duolingo's cofounder has a three-part principle for striking the right balance between "founder mode" and having some hierarchy in the company.

"One of my principles is reduce, automate, delegate," said Severin Hacker, who is also the company's chief technology officer. He spoke on an episode of the "20VC" podcast published on Monday.

Hacker cofounded Duolingo in 2011 with Luis von Ahn, his doctoral supervisor at Carnegie Mellon University. The language-learning app has since gone public and employs about 800 people.

Speaking about "reduce," Hacker said that once a month or once a quarter, he thinks about what he needs to do — and what he can drop.

"If you just don't do it, is it the end of the world?" he said.

Once he decides that a task is necessary, he tries to gauge if it can be automated, such as using ChatGPT to write a report or answer a question.

Lastly, he said he delegates what cannot be automated.

"I've handed off most of the day-to-day engineering to our head of engineering," Hacker said. "I'm now a little bit out of the weeds."

He said he's focused on AI and its implications for Duolingo and deciding what the company should invest in.

"I probably spend 80% of my day thinking and acting on this AI question," the CTO said.

The company has doubled down on AI usage in the past year. It uses the technology to generate lessons, and last month, Duolingo's CEO von Ahn made headlines for outlining all the ways he plans to integrate AI at the company, including for hiring and evaluation decisions.

Duolingo's use of AI and growing user base have made it an investor darling. It hit over 46 million daily active users this year, and its stock is up 191% in the past year. Duolingo has expanded its offerings from about 40 languages to math, music, and, recently, chess.

Evolving leadership

Hacker said that his role has changed every year since he cofounded the company.

He added that it's important to find a balance between being in founder mode — Silicon Valley lingo for a leader who is very involved in the company day-to-day — and being a manager, who often delegates and prefers hierarchy.

"At a certain scale, you need to have managers or layers," Hacker said. "The oldest organization in the world, the Catholic Church, that is still around, it's very hierarchical and and I think there's probably some reason for it."

Earlier this month, von Ahn, too, said that his leadership style changed as the language learning company grew in size.

In an interview at Stanford University, the CEO said that he no longer gets into the fine details of every task, not because he doesn't want to, but because it's impossible to micromanage that many people.

"At this point, I also have learned that most of my job is culture carrier, mascot, and just making some of the kind of tough philosophical decisions," von Ahn said.

• Tesla supplier CATL rose 13% in its Hong Kong trading debut on Tuesday morning.
• The IPO raised $4.6 billion, primarily to fund its European expansion.
• CATL competes with Tesla and BYD in the EV battery supplier market.

Key Tesla supplier CATL rose 13% in its Hong Kong trading debut on Tuesday morning.

The world's largest battery maker filed to go public in Hong Kong earlier this year, primarily to fund its European expansion. CATL has been listed on the Shenzhen Stock Exchange since 2018.

The initial public offering raised HK$35.7 billion, or $4.6 billion, according to a company filing. That size makes it one of the largest global listings of the year. The stock was listed at HK$263 per share.

Companies pursue dual listings — where a company is traded on more than one exchange — because it gives them access to more capital and lets their shares trade for a longer time if the exchanges are in different time zones. Hong Kong listings are a popular option for Chinese companies because they allow international investors to buy stock.

In a document filed with the Hong Kong exchange in February, CATL said that part of the money raised will be used to build a $7.6 billion battery plant in Hungary. The rest will be used for daily business. CATL has a partnership with Jeep and Fiat maker Stellantis in Spain.

CATL is a major supplier to Tesla, selling lithium-iron phosphate batteries to its Shanghai factory.

Last week, HSBC analysts led by Elaine Chen wrote in a note that CATL has a "dominating domestic position" in the EV battery market, enabled by "continuous products upgrade and innovation."

They added that they see the company "unlock more volumes opportunities in Europe on its superior-than-peers affordability and leading lithium iron phosphate (LFP) technology."

CATL is ramping up competition against Tesla and Chinese EV star BYD.

Late last month, CATL unveiled a new battery it said can out-charge BYD and Tesla. It launched an updated version of its Shenxing battery, which it said allows electric vehicles to add 520 kilometers, or 323 miles, of range in just five minutes of charging.

EV companies are trying to cut charge times to entice buyers who are wary of switching to electric.

In January, the Department of Defense added CATL to its list of "Chinese military companies" operating in the United States. CATL denied it had any association with the Chinese military and said it was prepared to contest the decision with legal action if necessary.

• On Sunday, Capital One acquired Discover Financial, becoming the sixth-largest US bank by assets.
• Online-focused Discover stands to gain a big physical footprint from the deal.
• A pair of top Democrats warned last month that the deal could spell trouble for customers.

Capital One has acquired Discover Financial, becoming the sixth-largest bank in the US by asset size.

In an earnings call last month, Capital One's CEO, Richard Fairbank, said the goal was to "preserve the best" of what Discover does, such as its advertising and focus on customer experiences.

Capital One's $35.3 billion acquisition of Discover was first announced in February 2024.

The deal was approved by regulators last month, despite pushback from top Democrats and consumer advocates who raised concerns about lower competition and risks to low-income customers and those with poor credit scores.

Representatives of Capital One and Discover didn't respond to a request for comment. On Monday, both banks said that "customer accounts and banking relationships remain unchanged" at this time.

Here's what customers of each of the two companies stand to gain and lose from the deal.

What does the merger mean for Capital One customers?

A much bigger Capital One could mean more products, but some Democrats have warned of higher fees.

Capital One previously said the merger would increase competition with the transaction giants Visa, Mastercard, and American Express and improve access for lower-income customers.

In a white paper published in July, four economists and lawyers at the International Center for Law & Economics wrote that the merger might finally end the Visa and MasterCard "duopoly."

They added that the merger would let Capital One switch its debit cards to Discover's payment networks, and it might offer "more attractive products to depositors." This could include free checking accounts with no minimum balance rules and debit cards with cash back for lower-income customers.

Cost savings and other benefits from the acquisition could also make Capital One a stronger competitor to "behemoths such as JPMorgan Chase, Citibank, and Bank of America," the ICLE group wrote.

What does the merger mean for Discover customers?

The merger doesn't appear to mean any big immediate changes. Discover has said accounts aren't linked to the new corporate owner, so Capital One branches and customer service can't help with Discover products.

Eventually, Discover customers may have greater access to the bank through Capital One's branches and ATMs. Right now, Discover has just one physical outpost in Delaware.

Michael Shepherd, the interim CEO of Discover, said on an earnings call last month that the deal would "increase competition in payment networks" and "offer a wider range of products."

Reactions to the deal

In a letter written to the Federal Reserve System earlier this month, Rep. Maxine Waters of California and Sen. Elizabeth Warren of Massachusetts argued that the merger would hurt Capital One customers.

Warren and Waters are top Democrats on the Senate Banking, Housing, and Urban Affairs Committee and the House Financial Services Committee, respectively.

"These are not two traditional banks — they are credit card giants," they wrote.

Waters and Warren said post-merger Capital One would have 40% of the general-purpose credit card issuance market share. This would give Capital One the power to increase fees for merchants and reduce rewards and other benefits for customers.

"Merchants would have no choice but to accept the terms dictated by Capital One's network, since they need to access the customers of the largest credit card issuer in the country," they wrote in the letter.

Warren and Waters said it was "doubtful" that Capital One could fix the "myriad issues" that Discover faces.

"For roughly 17 years, Discover misclassified millions of consumer credit cards as commercial, resulting in higher interchange fees for transactions," the politicians wrote.

In the white paper, the ICLE economists and lawyers wrote that a merger could improve data protection because the combined company would have the capacity to increase "financial investments in security."

A bigger company also means access to more data, which can be a plus, they wrote.

"The ability to capture and analyze more data on more customers may also permit the larger and more competitive company to develop and offer new innovative products," the ICLE experts wrote.

• Krishna Ganeriwal, a Meta software engineer, shared four strategies that helped grow his career.
• Meta's 'year of efficiency' led to structural changes and 10,000 employees being laid off in 2023.
• Aligning with company priorities and tackling overlooked tasks can help career advancement, he said.

This as-told-to essay is based on a conversation with Krishna Ganeriwal, a senior engineer at Meta in California.

Meta dubbed 2023 its "year of efficiency" and made several changes to the company's structure, including flattening management layers and laying off about 10,000 employees. This interview has been edited for length and clarity. Business Insider has verified Ganeriwal's employment history and compensation.

I moved to the US in 2021 for my master's, after working for four years as a software engineer at Texas Instruments in India.

In the summer before I graduated from the University of Wisconsin-Madison, I had the opportunity to intern with Meta. I loved the scale of the projects the company worked on, and I returned to the company full time as a software engineer in 2023 — Meta's "year of efficiency."

Here are four strategies I used to get promoted and grow my salary from $200,000 to about $500,000 in the 18 months since I joined full time.

1. Swim with the tide

When company management is working toward a theme, which was efficiency in the case of Meta, I see it as a direct hint for what my priorities need to be. I tried to align myself with the same idea of efficiency over scaling and growth at all costs, which was the mindset many tech companies had previously.

That meant taking note of my knowledge gaps and upskilling so that I can help build more cost-aware infrastructure. Reorganizations and layoffs are times of major cost cutting, and it would be swimming against the tide to insist on working on time-consuming or expensive projects.

I've found it helpful to have an open ear to what company leaders are talking about at quarterly meetings and constantly ensure that I am in the middle of —or at least the periphery of — those priorities.

2. Get ready to reprioritize

Just because you've been fortunate to survive a round of layoffs, it doesn't mean there's nothing for you to change.

I tell myself that a layoff means I have to be ready to be thrown into ambiguous areas and solve problems, despite constraints such as fewer colleagues and fewer resources.

It also means I have to be open to pivoting and reprioritizing — dropping what I'm working on at the moment and switching priorities, even if it's temporarily.

3. Don't put your growth in the backseat

I've found it helpful to separate conversations about layoffs and the company's performance from those about my career growth.

Despite multiple rounds of layoffs at the company, I kept having conversations with my manager about setting new goals for myself and working toward them. I also took steps to overcommunicate and remain visible to my manager and others in my team because it plays an important role during performance reviews.

4. Be open to 'underdog' problems

One underrated strategy that helped me land promotions was looking out for problems and tasks no one was willing to work on, because they were likely busy chasing a piece of a big, exciting project.

In the past year, I've been open to being loaned out to other teams or working alone on some projects. I've found that these underdog projects pay back in the long run because they gave me expertise that very few people have.

For example, when everyone at the company was working on efficiency and AI models, I focused on neglected engineering problems that leveraged both these areas.

• Duolingo CEO Luis von Ahn said he adapted his leadership as the company grew in size.
• Von Ahn said he shifted from micromanagement to focusing on company culture and tough decisions.
• Duolingo has 46 million daily users and saw its stock shoot up 205% in the past year.

Duolingo's CEO, Luis von Ahn, said that his leadership style changed as the language learning app grew from a couple of dozen staffers to over 800 employees.

"If you're starting a company, you should be a micromanager up until about employee 30," von Ahn said in a talk at Stanford University published last week. "I took it too far, I went to about 50."

Von Ahn, who cofounded Duolingo in 2011, added that he no longer leads this way — not because he doesn't want to, but because it's impossible to micromanage that many people.

"At this point, I also have learned that most of my job is culture carrier, mascot, and just making some of the kind of tough philosophical decisions," von Ahn said.

The CEO said that he learned to let go of tasks that he isn't good at or that he doesn't enjoy.

"Two of my executive team are sitting here — head of people and head of finance. I am neither good at those things nor do I get energy from them, so they have all the freedom in the world," he said. "But our poor head of product does not have a lot of freedom."

The edtech company has become an investor darling. It hit over 46 million daily active users this year, and its stock is up 205% in the past year. Duolingo has expanded its offerings from languages to math, music, and recently, chess.

Duolingo did not immediately respond to a request for comment.

Different take on 'founder mode'

The Duolingo CEO's approach differs from some top tech bosses' leadership styles. Jensen Huang, for one, is known for having up to 60 direct reports, and Airbnb CEO Brian Chesky, reorganized the company post-pandemic to swap out a divisional structure for one that let him have input in many more decisions.

Chesky's management style became etched in Silicon Valley zeitgeist last year when Paul Graham, a writer and founding partner of the startup accelerator Y Combinator, published an essay titled "Founder Mode" about Chesky's argument that conventional advice on scaling up a startup is broken.

At a Y Combinator event mentioned in the essay, the Airbnb exec said, as he has before, that investors and outside managers just don't have the insights that founders do. He said that splitting a company into organizational tiers — isolating founders from anyone but their direct reports — often kills the business.

Duolingo's von Ahn, too, has said that he is in founder mode — but he sees it a little differently.

In an interview with The Verge last year, he said that while he has a "view of everything" at the company, other executives, such as the vice president of product management and chief design officer, also have that view.

He added that at Duolingo, data calls the shots more than he or other execs.

"If we run an A/B test and the metrics say something, my opinion doesn't matter all that much unless it's something that we think is really like a dark pattern or something," he said at the time.

• Duolingo's CEO outlined three criteria for what subjects make the cut on the app.
• Subjects must have a large demand and benefit the world, Luis von Ahn said.
• "Turns out a lot of people want to learn like Pokémon cards. We're not going to do that," he said.

Duo the owl can't teach everything.

Duolingo's CEO, Luis von Ahn, said the company has three criteria to decide what subjects to add. The app started with languages and has expanded to math, music, and chess.

"We debate a lot about what subjects to teach," von Ahn said in a talk at Stanford Graduate School of Business published last week. "There's a few things that we need them to do."

The company's first requirement is that there needs to be a "very large demand" — at least hundreds of millions of people who are interested in learning that topic, Von Ahn said.

"For example, even coding, there's only about 20 million people in the world that either want to learn coding or are learning coding. That's just not a very large number," von Ahn said. The subjects should also be teachable on a mobile app, he added.

The company had 46.6 million daily active users in the first quarter, a 49% jump from last year.

The company offers courses in about 40 languages, including some that have a declining number of speakers.

Duolingo's second criterion is that it will only teach subjects that benefit the world.

"Turns out a lot of people want to learn like Pokémon cards," the CEO said. "We're not going to do that. So we want it to be good for the world."

Von Ahn, who cofounded the company in 2011, has said that making education free and accessible has always been Duolingo's mission. During the Stanford talk, von Ahn said that one of his regrets when growing the company was monetizing it three years too late because he thought "making money was evil."

The CEO said his third requirement for what subjects are added has to do with the team's motivation.

"We need somebody or a small group of people inside the company to be excited about this, to actually go work on it," von Ahn said.

He said that employees began developing chess — which launches this week — eight months ago.

"It got started by two people, neither of whom knew how to code and neither of whom knew how to play chess," he said.

Late last month, von Ahn made headlines for outlining all the ways he plans to integrate AI at the company, including for hiring and evaluation decisions.

Duolingo is on a tear. The company's stock has risen 198% in the past year because of AI and continued growth in both free and premium users.

• A former Palantir engineer described how the company interviews and what it looks for in talent.
• The company seeks independent thinkers with broad interests and intense competitiveness, he said.
• Dozens of Palantir alumni have founded startups backed by top VC firms.

In an industry known for quirky interview questions, a former Palantir employee's account of the company's early hiring practices stands out.

In an episode of Lenny's Podcast released on Sunday, a former Palantir engineer and startup founder talked about hiring practices and work culture in the company's early days.

In order to get hired, a candidate had to be interviewed by one of the founders, said Nabeel Qureshi, who worked at the data analysis company for nearly eight years until 2023.

"The interviews were pretty strange," Qureshi said on the podcast.

"You'd be chatting about philosophy for an hour and a half and it would very much just be like he would pick a topic out of thin air," Qureshi said, referring to interviews with the Palantir cofounder Stephen Cohen.

"It was impossible to prepare for," Qureshi added. "He would just go very, very deep and try and test the limits of your understanding. But it would really just be a fun conversation and then if you pass the vibe check, you'd be in."

Qureshi did not mention if the company still engages in these hiring practices.

Palantir was founded in 2003 by Cohen, Peter Thiel, Joe Lonsdale, and Alex Karp. It provides businesses and militaries, including those of the US, Israel, and Ukraine, with AI models. It went public in 2020 and faced backlash last year because of its partnership with the Israeli Ministry of Defense.

Qureshi said that Palantir screened for three particular types of people: people who were independent-minded and weren't afraid to push back, people with broader intellectual interests, and those who were "intensely competitive."

He added that Palantir also attracted people outside of tech, such as military vets, because it was looking for people who were not just technically qualified but also aligned with the company's mission.

Palantir and Cohen did not respond to requests for comment from Business Insider about details about the company's interview process, and whether it still asks candidates about topics like philosophy.

Qureshi also talked about how the company's culture and business practices were a fertile ground to raise future founders.

He said Palantir instilled founder-friendly mindsets, such as telling employees to solve one customer's problem first because that solution could later be expanded to bring in more business. The company also asked employees to jump on a plane and meet customers in person because "the vibe is completely different," he said.

Palantir has at least 39 alumni who run their own startups, including Lonsdale and the founders of the defense-tech startup Anduril. "Palantir mafia" companies have been backed by top Venture Capital firms, including a16z, Sequoia, Accel, and Y Combinator.

Karp, the company's CEO, has on several occasions boasted that the company's employees are among the best in the business. Earlier this year, BI spoke to half a dozen tech recruiters about the power of having Palantir on your résumé — and while some said results matter more than the name of a company, they generally agreed that Palantir employees are "top-notch" hires.

Palantir is worth close to $280 billion. Its stock is up 57% because of its exposure to AI.

• Bat VC has launched a $100 million fund to back AI startups in the US and India.
• India's growing economy and US-China trade tensions are boosting its appeal for tech investors.
• Bat VC is banking on the AI boom and Big Tech's expansion in India to source promising startups.

A VC firm that plans to back buzzy early-stage AI startups across the US and India has just launched a second fund with a target close of $100 million.

New York-headquartered Bat VC, founded by a trio of Indian tech veterans from Yahoo, Twitter India, and Intuit, is currently raising its second fund. It aims to back early-stage startups predominantly in the AI, fintech, and enterprise sectors, cutting checks of $3 million to $5 million.

The VC firm has made a strategic decision to back startups across India and the US — two markets it sees teeming with potential for startups to bilaterally scale, particularly as the US and China remain in a trade war.

Bat VC's managing director and general partner, Aditya Mishra, said Fund 2 serves as a follow-on pot for the firm's first fund, a $8.2 million vehicle that is on track for a 29% internal rate of return and has two exits so far.

"We look at early-stage from the lens of whether startups have achieved product market fit," Mishra told Business Insider. "You could have a very strong team, but you may be lacking the sales and the go-to-market skill set, or you may not have a good team technically, but you are pretty good at selling whatever you have."

Bat VC is still fundraising for the first close of its second fund and is in talks with over 10 limited partners, including institutional LPs, family offices, fund of funds, and high-net-worth individuals, Mishra told BI.

A global trade shift is spurring more VC interest in India

While US startups rake in the most VC funding globally, India is experiencing a startup boom. As of January, the country reported having over 159,000 recognized startups and credited them with creating about 1.7 million direct jobs since 2016, according to India's Ministry of Commerce and Industry.

The country is increasingly a hotbed for Big Tech operations. Apple produced $22 billion worth of iPhones in India in the 12 months preceding March as the tech giant pivots its manufacturing base away from China, while Meta is in talks to set up its first data center in India.

There's also a growing trend of reverse brain drain. Encouraged by India's growth and market size, Indian expats who moved to the US to work in Big Tech are leaving hefty paychecks behind to return home and build consumer and fintech startups.

Although the trade war between the US and China is facing a 90-day reprieve, the uncertainty could make India a more attractive alternative choice for investors seeking tech talent and opportunities to scale their startups in software-savvy markets.

All of this has created fertile conditions for tech innovation in India, particularly in AI, said Ravi Metta, Bat VC's US head and general partner.

"Because of the AI resurgence, companies across the world are pushing more work into India," he said. "What's going to happen because of that is that more and more people in India will start becoming entrepreneurs, building these global companies using AI."

Supply chain constraints could also lead to more Big Tech companies setting up in India, and leaning on AI to carry out work in areas like logistics, Mishra told BI, adding that this could lead to more robotics and manufacturing innovation in the country.

Manish Maheshwari, Bat VC's India head and general partner, told BI that many US founders may want to access India, particularly for enterprise software, and compared it to the US-Israel corridor, but with the potential to be "10 times bigger."

As the US seeks more economic ties to alternative manufacturing hubs in Asia, India's bilateral relationship with the US is "going to be an order of magnitude higher," he added. "So that is where India also has an advantage."

• "Pinterest is where Gen Z goes to shop," CEO Bill Ready said on Pinterest's Q1 earnings call.
• Gen Z has been "raised on an internet of visual content" and likes to search visually, he added.
• Pinterest reported that revenue rose 16% in Q1, sending stock up as much as 18% after hours.

Millennials had the mall. Gen Z has Pinterest.

On its first-quarter earnings call on Thursday, Pinterest's CEO, Bill Ready, said Gen Z users are engaging heavily with the image-sharing platform. Gen Z are those who were born between 1996 and 2010.

"We've made Pinterest a destination for our users, particularly a shopping destination," Ready said on the call. "Pinterest is where Gen Z goes to shop."

Ready said that a key driver of Pinterest's success is its ability to connect users to products and aesthetics "they may not have the words to describe."

"This is especially relevant for Gen Z, our largest and fastest-growing user cohort, who have been raised on an internet of visual content," and like to search visually, the CEO said.

Pinterest execs also touted Gen Z in examples of how advertisers are finding value on their platform.

Chief financial officer Julia Donnelly said advertisers valued Pinterest's insights into consumer behaviour, especially for Gen Z users who are making "significant" decisions such as selecting insurance or a credit card for the first time. The CEO highlighted PacSun, a clothing brand he said was popular with Gen Z, and said the retailer saw a higher return on ad spending with new Pinterest features.

The company's first-quarter revenue grew 16% to $855 million compared to the same period last year. Monthly average users, an important metric for media companies, grew 10% year-on-year.

AI also played a role in the company's strong quarter. Ready said Pinterest has been using AI to personalize user experience and to improve the platform's visual search capabilities.

"It also makes us a highly valuable partner to advertisers that are looking for early signals on how consumer trends may be shifting before it shows up in traditional purchasing data," he said of AI.

Pinterest stock jumped as much as 18% after-hours on Thursday on the heels of encouraging second-quarter guidance.

Pinterest, which is most popular for searching travel, style, and home decor ideas, saw a slowdown in user growth post-pandemic. It has since rebounded due to increased focus on shoppability and engagement from Gen Z users.

Gen Z, most of whom are in their 20s, has a reputation for taking their life and careers slow. Some research shows members of this generation are not drinking, driving, working, or taking risks as much as other age groups did at their age.

In addition to Pinterest, Gen Z is being credited for the revival of the image-blogging platform Tumblr, which reported that 50% of its active monthly users in 2025 are Gen Zers.

When it comes to their shopping habits, Gen Z is often associated with "underconsumption core," a trend that's all about buying less and rejecting influencer marketing.

Pinterest did not immediately respond to a request for comment from BI.

• Ford suspended 2025 guidance due to supply chain and future tariff risks.
• The COO of Ford said his team "is in the trenches" trying to minimize the impact of tariffs.
• Last week, the White House said Americans won't have to pay more to buy cars because of import duties.

Ford said on Monday it would suspend financial guidance for 2025 because supply chain disruptions and future tariffs carry "substantial industry risks."

On its first-quarter earnings call, Ford executives also outlined several steps they are taking to reduce the impact of President Donald Trump's tariffs on their business.

"We're not just improving cost and quality, the team is also in the trenches, taking actions to minimize the impact of tariffs on our business," Ford's chief operating officer, Kumar Galhotra, said on the call.

Galhotra outlined what some of those actions are:

• Vehicles shipped to Canada from Mexico via the US are now transported on bonded carriers, Galhotra said. That means they aren't subject to US tariffs. A bonded carrier is allowed to move goods through US crossings without having to pay duties during that portion of the journey.
• Car parts that pass through the US are getting the same treatment.
• Ford stopped exporting vehicles to China while continuing to use China as an export hub for Southeast Asia and other regions.
• The company is looking for opportunities to develop local supply chains, Galhotra said.

On Monday, Ford reported that it expects to offset $1 billion in tariff-related costs, out of the expected $2.5 billion.

It also estimated that tariffs would slash full-year adjusted earnings before interest and taxes by about $1.5 billion.

Ford reported $40.7 billion in first-quarter revenue, a 5% decline compared to the same quarter last year. Net income was $471 million, a 64% decline from last year.

Ford's shares were down 2.6% in premarket trading on Tuesday.

Industry-wide impact

Last week, the White House said Americans won't have to pay more to buy cars because of import duties.

"Because again, there is now a massive economic incentive for automobile producers to expand production in the United States, and whatever they make here, there will be no tariff," White House deputy chief of staff Stephen Miller said in response to a question about car costs.

But Ford, and its competitors both in the US and abroad, are not so sure.

On Monday, Ford's CFO, Sherry House, told reporters on a call that the company expects US car prices to rise by 1% to 1.5% in the second half of the year because of tariffs on cars and parts.

Japan's Honda previously said that Trump's tariffs could have a significant effect on its bottom line. Among US carmakers, Stellantis withdrew its 2025 financial guidance due to tariff uncertainty, while GM said that tariffs could cost the company up to $5 billion.

Ford could see a lesser impact from tariffs than other companies because it makes 80% of the vehicles it sells to US customers at American assembly plants, more than any other manufacturer.

Ford's stock has fallen almost 19% in the past year because of reduced vehicle sales and raging competition from Chinese electric car producers.

• Reddit's CEO said he had to remind employees to work hard when he returned in 2015.
• There's a tendency in US tech to place idealism above hard work, he said.
• Reddit's success is partly due to users treating it as a search engine for their queries.

Reddit is worth nearly $21 billion after last week's megahit earnings. Its CEO said success took two decades, a big leadership change, and reminding employees they have to work hard.

In an episode of the "Prof G Pod" podcast released on Sunday, Reddit's cofounder and CEO, Steve Huffman, talked about the platform's founding journey. He also answered a question about the biggest changes he made that had the most impact at the company.

He said the biggest change was using common sense, debating whether their product was actually good, and being willing to change things to get there.

"Another big change for Reddit was we weren't running as a business. We were really idealistic, and I think in many ways the idealism has been very good, but we were also idealistic about not being a business — which is not a great way to run a sustainable business," Huffman said about growing the company after he returned as CEO in 2015.

"Wrapped up in some of that idealism was also like, not working very hard," Huffman added.

Huffman recalled telling employees: "Look, we have to work really, really hard. We're in a competitive space."

He added: "If we don't work really hard and work really smart and make this thing successful both from a user point of view and business point of view, then we don't get to do this, and we'll never achieve our mission."

Huffman cofounded Reddit with his college roommate Alexis Ohanian in 2005 and oversaw its 2006 acquisition by Condé Nast. He left the company to cofound the travel website Hipmunk before returning to Reddit as its CEO in 2015. Huffman was tasked with turning the company around after it faced a slew of challenges, including difficulty recruiting and bad publicity because of controversial content on the platform.

Reddit went public in March 2024 and rose as much as 70% on its first trading day. Since then, its stock is up 147% and is worth about $113.

On Sunday's podcast, Huffman said the sense of "idealism" Reddit faced in its early days is a problem in Silicon Valley as a whole.

"In the Bay Area broadly is this, it's almost an entitlement of, 'I work at these companies but I don't have to work very hard and I'm here for myself,'" he said.

Huffman added that tech employees, including Reddit engineers, had a tendency to take ideas from other successful companies. He said his engineers adopted Apple's philosophy of "it's done when it's done" and used the phrase when he asked for product timelines.

"But then the version I get isn't this artisanal world-class product," Huffman said. "It's like late and shitty."

The CEO said that he, too, didn't like being rushed as an engineer, and setting realistic deadlines was part of his maturation as a leader.

On Thursday, Reddit reported first-quarter earnings that sent its stock surging 19% after hours. Revenue increased 61% year-over-year to $392.4 million.

One of the biggest drivers of Reddit's success is that users treat the platform like a search engine for their queries and often add "Reddit" at the end of their Google searches. In the past year, changes to Google's algorithm have both boosted and hurt Reddit.

On Thursday's earnings call, Huffman said the company does "expect some bumps along the way from Google," but said the platform will always meet the needs of people looking for the "subjective, authentic, messy, multiple viewpoints that Reddit provides."

• 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.

• OpenAI rolled back a ChatGPT update for being overly "sycophantic" and "disingenuous."
• The GPT-4o model update gave users flattering compliments even for mundane prompts.
• Big Tech wants to ensure their AI sounds human and funny, because it encourages more engagement.

OpenAI is getting rid of a ChatGPT update that was putting users on a pedestal and creeping some of them out.

"The update we removed was overly flattering or agreeable—often described as sycophantic," OpenAI wrote in a company blog post on Tuesday.

The ChatGPT maker said this update of the GPT‑4o model focused too much on short-term feedback instead of long-term interactions, leading to "responses that were overly supportive but disingenuous."

Last week, several ChatGPT users and OpenAI developers reported the chatbot displaying a strange attitude. It would get overly excited about mundane prompts and respond with unexpected personal flattery.

In one instance, a user posted on X about how ChatGPT used the phrases "absolutely brilliant" and "you are doing heroic" work to answer a question about White House economic policy.

The complaints and memes made their way to OpenAI CEO Sam Altman, who said on Sunday that a solution was in the works.

"The last couple of GPT-4o updates have made the personality too sycophant-y and annoying (even though there are some very good parts of it)," he wrote on X. "We are working on fixes asap, some today and some this week. At some point will share our learnings from this, it's been interesting."

AI chatbots sounding weird or inhuman is a big problem for Big Tech.

Besides answering queries, AI companies want chatbots to be smart and engaging enough that users will spend more time with them and eventually fork out up to $200 for their premium versions. Developers are also looking to build out personality, including humor, to stand out in the crowded generative AI market.

It's an important part of the messaging AI CEOs use when talking about their models.

In February, OpenAI released what it claimed to be its largest and most powerful model to date: GPT-4.5. In a post on X at the time, Altman described it as "the first model that feels like talking to a thoughtful person."

In late 2023, Elon Musk said his one goal for his AI chatbot, Grok, was for it to be the "funniest" AI after criticizing other chatbots for being too woke.

But sometimes that can go too far.

"We designed ChatGPT's default personality to reflect our mission and be useful, supportive, and respectful of different values and experience," OpenAI wrote on Tuesday. "However, each of these desirable qualities like attempting to be useful or supportive can have unintended side effects."

• Snap fell 14% after it reported first-quarter earnings and said it wasn't sharing second-quarter guidance.
• Trade restrictions and changes to the de minimis exception are hurting Snap.
• The company is struggling with inconsistent earnings and slowing user growth in key markets.

Snap's stock has taken a series of beatings. Now, it's another victim of President Donald Trump's wave of trade restrictions.

On Tuesday, Snap plunged 14% after hours after the social media company reported first-quarter earnings. Revenue and user growth, an important metric for media companies, were roughly in line with expectations. But the company's chief financial officer, Derek Andersen, made one remark that spooked investors.

"Given the uncertainty with respect to how macroeconomic conditions may evolve in the months ahead, and how this may impact advertising demand more broadly, we do not intend to share formal financial guidance for Q2," Andersen said on the earnings call.

Tech companies like Amazon, Meta, and Snap get a lot of their business from Chinese advertisers trying to reach American shoppers. Tariffs and other trade restrictions make items expensive and less appealing for Chinese companies to advertise on US platforms.

The CFO also said there will be "headwinds" from changes to de minimis, a loophole that lets goods valued at less than $800 enter the US duty-free. As of May 2, de minimis shipments of China-made goods will no longer be allowed.

"We've heard from a subset of advertisers that their spending has been impacted by the changes to the de minimis exemption," Andersen said.

In a post-earnings note, RBC Capital Markets analyst Brad Erickson called the results "challenging" and highlighted that the company won't provide revenue guidance.

On Tuesday, CFRA analyst Angelo Zino wrote that while Snap's investments in augmented reality and artificial intelligence have helped results, the absence of second-quarter guidance "is not sitting well with investors" and likely led to Tuesday's share slide.

Zino added that smaller platforms like Snap are "potentially more vulnerable" to tariffs than larger competitors like Meta and Google.

The Snapchat owner has had its share of problems long before Trump's tariffs. It faces stiff competition from Meta products and TikTok and has been posting inconsistent earnings results, sometimes falling short of Wall Street estimates for revenue. Over the past few years, investors have been wary of slowing user growth in important markets like North America and Europe and high spending on machine learning and call-to-action advertising.

Its stock is down close to 40% over the last year and it has lost 66% of its value since its 2017 initial public offering. Then valued between $20 billion and $25 billion, it was, at the time, the biggest IPO on a US exchange since Alibaba debuted in 2014 at a value of $168 billion.

Snap reported first-quarter revenue of $1.36 billion, a 14% increase compared to last year. It reported a net loss of $140 million, compared to a loss of $305 million in the year before. It reached 460 million daily active users, a 9% increase from last year.

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• Duolingo's CEO said he wants to make the company AI-first and prioritize speed over perfection.
• AI will replace contractors, influence hiring, and limit head count growth, the CEO wrote on Monday.
• Uber and Shopify CEOs have also said that AI usage is essential at their companies.

Duolingo wants to move fast and break things when it comes to AI.

In a memo to employees shared on LinkedIn, Duolingo's CEO, Luis von Ahn, outlined his plan to make the company "AI-first."

"We can't wait until the technology is 100% perfect," von Ahn wrote in the memo posted on Monday. "We'd rather move with urgency and take occasional small hits on quality than move slowly and miss the moment."

The CEO laid out three ways the company will use the technology. It will "gradually" stop using contractors for tasks AI can do. Employees' AI use will be judged in hiring and performance reviews. And teams will only get more head count if they cannot automate additional work.

Replacing manual work with AI isn't a new move for the company. In early 2024, Duolingo laid off 10% of its contract workers because it began using AI to generate content. It made similar AI-related cuts in 2023. In the Monday memo, Von Ahn added that the AI push won't replace full-time employees with the technology.

"Without AI, it would take us decades to scale our content to more learners. We owe it to our learners to get them this content ASAP," he wrote.

Last year, to highlight its use of AI, Duolingo kicked off one of its earnings calls with a segment from Lily, an AI-driven chatbot based on a purple-haired character on the app.

"Over time, she's going to do more and more of my job, and I can just retire," the CEO said at the time.

Duolingo's stock has risen 68% in the last year, partially on the growth of its paid premium tiers. The company is also diversifying from language offerings by trialing chess and launching music courses. Duolingo is expected to report first-quarter earnings on Thursday.

Von Ahn is the latest tech executive making it clear that AI use is no longer optional.

Earlier this month, Uber's CEO, Dara Khosrowshahi, said not enough of his employees know how to use AI and that Uber is implementing training programs to change that. He added that learning to use AI agents to code is "going to be an absolute necessity at Uber within a year."

In a memo to employees that Shopify's Tobias Lütke shared on social media earlier this month, he wrote that AI use is "now a fundamental expectation of everyone at Shopify" and "teams must demonstrate why they cannot get what they want done using AI" before asking for more head count. Von Ahn's messaging on Monday closely resembled Lütke's post.

LinkedIn cofounder Reid Hoffman touted Lütke's post and said that every leader, whether they are running a small startup or a giant company, should integrate AI into their work and conduct regular check-ins about AI learning.

Earlier this year, Meta's CEO Mark Zuckerberg said he expects the company to have "AI that can effectively be a sort of midlevel engineer."

• Flexport's CEO warned that US tariffs on China could cause mass small business bankruptcies.
• A lot of what Americans buy from China is non-essential goods, Ryan Petersen said.
• Trump said he might not impose higher tariffs on China because it could deter US consumption.

The CEO of logistics company Flexport has a grim forecast for what could happen if the US sticks to its tariffs on China.

The US's 145% duty on Chinese products could lead to "mass bankruptcies," Flexport's CEO, Ryan Petersen, said on an episode of '"The Prof G Pod," which aired on Friday.

"You're talking like 80% of small business that buys from China will just die," he said. "And millions of employees will be unemployed."

The logistics CEO added that a lot of what Americans buy from China is "discretionary spend" — optional items that can be replaced if they become expensive.

"We have customers that buy pizza ovens in China, like for your backyard. They're really cool products," he said. "When the price goes up 50% or more, you might just go out and buy pizza from Domino's or something, right?"

He said this is why he thinks the US could "back down" in the trade war with China.

The White House did not respond to a request for comment.

Last month, Petersen said customers feel "paralyzed" around tariffs, especially because of the manner they are being carried out. He said no country feels like a safe bet for supply chains, especially after President Donald Trump placed duties on Canada and Mexico, two of the US's closest trading partners.

Petersen founded the logistics company in 2013 and raised $935 million in 2022 at an $8 billion valuation.

'People aren't going to buy'

Earlier this month, Trump said he might be nearing a point where he wouldn't want to impose higher tariffs on China because it could deter consumption in the US.

Speaking to reporters in the Oval Office on April 17, Trump said he may not raise tariffs even if China goes beyond its 125% duty on US goods.

"I may not want to go higher, or I may not want to even go up to that level — I may want to go to less, because you want people to buy, and at a certain point, people aren't going to buy," he added.

Earlier on the same day, China's Ministry of Foreign Affairs said it wouldn't pay attention to Trump's "tariff numbers game" after the White House said Chinese exports face a levy of up to 245%. Beijing previously called escalating US tariffs a "joke" and said they no longer hold "any economic significance."

The US imported $438.9 billion worth of goods from China in 2024, according to the Office of the US Trade Representative. China makes up over 13% of its total imports.

Earlier this month, five owner-operated businesses from different states and industries filed a lawsuit in the US Court of International Trade challenging Trump's authority to impose tariffs by invoking the International Emergency Economic Powers Act. They argue that the tariffs violate constitutional limits on executive power.

Large businesses are also warning of widespread economic disruption. Southwest Airlines' CEO said last week that the US airline industry is already in a recession.

• Companies are describing economic conditions as "volatile" and "impossible to predict."
• Firms like GM and UPS are overhauling earnings forecasts amid uncertainty caused by Trump's tariffs.
• Here's a list of companies that have lowered or pulled their guidance as a result.

Volatile. Challenging. Uncertain.

This is the language of corporate earnings calls amid President Donald Trump's tariffs.

As a result of the uncertainty, companies are lowering or outright scrapping their earnings forecasts.

Here's a look at the big brands that have made adjustments to their guidance in recent earnings reports.

Canada Goose

Luxury retailer Canada Goose pulled back its fiscal year 2026 guidance because of "macroeconomic uncertainty and dynamic consumer spending patterns brought on by the unpredictable global trade environment" according to a press release. The company did not explicitly cite tariffs in the release.

Canada Goose reported strong fiscal fourth-quarter earnings, with total revenue increasing 7.4% compared to the same period last year.

GM

GM said it would suspend earnings guidance for 2025 and freeze a $4 billion share buyback as it assesses the impact of Trump's tariffs on imported cars.

Two days later, after the White House announced measures to ease the blow of the tariffs, GM said it had slashed its guidance for this year and had a current tariff exposure of between $4 billion and $5 billion.

Like other Detroit automakers, GM, which builds several models for the US market in Mexico and Canada, is highly exposed to the tariffs. Barclays analysts previously warned that the levies could wipe out "effectively all" of GM, Ford, and Jeep and RAM owner Stellantis' profits.

UPS

Parcel giant UPS said it would pull its financial guidance in its first quarter earnings release, as well as announcing plans to cut 20,000 jobs throughout 2025.

"Given the current macro-economic uncertainty, the company is not providing any updates to its previously issued consolidated full-year outlook," the company said.

It reported virtually flat revenues of $21.5 billion, a drop of 0.7% compared to the same period in 2024.

P&G

Procter & Gamble now forecasts flat sales growth in fiscal year 2025, compared to a previous projection of a 2% to 4% increase. The consumer goods conglomerate, which owns brands like Tide and Charmin, also cut its core EPS outlook to $6.72 to $6.82, down from $6.91 to $7.05.

"We will have to pull every lever we have in our arsenal to mitigate the impact of tariffs within our cost structure and P&L," P&G's CFO, Andre Schulten, said on a call with reporters.

In the company's earnings release, CEO Jon Moeller pointed to a "challenging and volatile consumer and geopolitical environment."

"We're making appropriate adjustments to our near-term outlook to reflect underlying market conditions while remaining confident in the longer-term growth prospects for our brands and the markets where we compete," he said.

PepsiCo

The food and beverage giant warned of higher production costs and lower consumer spending amid "increasingly dynamic and complex geopolitical and macroeconomic conditions."

"As we look ahead, we expect more volatility and uncertainty, particularly related to global trade developments, which we expect will increase our supply chain costs," CEO Ramon Laguarta said in the company's earnings release. "At the same time, consumer conditions in many markets remain subdued and similarly have an uncertain outlook."

PepsiCo lowered its core EPS forecast for the year to a 3% decline, where it previously forecast a single-digit increase.

"Relative to where we were three months ago, we probably are not feeling as good about the consumer," PepsiCo's CFO, Jamie Caulfield, said in a post-earnings call.

Chipotle

Chipotle lowered its guidance for the fiscal year and now forecasts a sales increase in the low single digits, compared to low- to mid-single digits previously forecasted.

"In February, we began to see that the elevated level of uncertainty felt by consumers are starting to impact their spending habits," interim CEO Scott Boatwright said on the company's earnings call. "We could see this in our visitation study where saving money because of concerns around the economy was the overwhelming reason consumers were reducing the frequency of restaurant visits."

United Airlines

United Airlines took the rare step of offering two sets of outlooks: one for a stable macroeconomic environment and one for a recessionary environment.

"The Company's guidance is based on consensus market macroeconomic expectations," it said in a securities filing. "However, a single consensus no longer exists, and therefore the Company's expectation has become bimodal — either the U.S. economy will remain weaker but stable, or the U.S. may enter into a recession. The Company is therefore providing two separate guidance benchmarks based on these two different macroeconomic views."

The filing added that the macro environment "is impossible to predict this year with any degree of confidence."

Delta Air Lines

Delta was one of the first airlines to pull its guidance when announcing Q1 earnings.

"Given current uncertainty, Delta is not reaffirming full year 2025 financial guidance and will provide an update later in the year as visibility improves," the carrier said in an earnings release.

CEO Ed Bastian said in the company's earnings call that it would be "premature" to project the year "given the broad macro uncertainty."

American Airlines

American Airlines also withdrew its full-year guidance, noting that it plans to provide an update "as the economic outlook becomes clearer."

"Aircraft cost too much already," CEO Robert Isom said on the earnings call when asked about tariffs. "I don't want to pay any more for aircraft. It doesn't make sense."

He added, "And certainly, we're pulling guidance. Certainly, it's not something we would intend to absorb. And I'll tell you, it's not something that I would expect our customers to welcome. So we've got to work on this."

In an interview on CNBC's "Squawk Box," Isom said "uncertainty" was the reason American pulled their guidance.

Southwest Airlines

The airline has withdrawn its guidance on full-year 2025 and 2026 earnings before interest and taxes.

"Amid the current macroeconomic uncertainty, it is difficult to forecast given recent and short-lived booking trends," it said in an earnings release.

JetBlue

JetBlue joined many of the country's airlines by pulling its financial forecast for the year in earnings on April 29.

CEO Joanna Geraghty cited "the macroeconomic uncertainty," and said the firm was looking at further capacity reductions due to lower demand, as well as evaluating its schedule for retiring planes.

Like for Southwest, the uncertainty comes at a challenging time, with both airlines working to turn around their lack of profitability.

Air Canada

In early May, Air Canada lowered its annual profit forecast for 2025 amid the impact of tariffs and slowing demand for travel to the US.

"The noise around tariffs and trade disputes definitely had an impact, but also we believe some travellers avoided the US simply because it was expensive, with the Canadian dollar trading at levels not seen since 2020," Michael Rousseau, Air Canada's president and CEO, said on an earnings call.

Air Canada lowered its annual earnings outlook to between C$3.2 billion and C$3.6 billion, equivalent to between $2.6 billion and $2.3 billion. This is roughly C$200 million, or $144 million, lower than earlier estimates.

Thermo Fisher

CEO Mark Casper said on a recent earnings call that the updated guidance "incorporates the expected net impact of current tariffs and the changes driven by the current policy focus of the US."

Thermo Fisher said it expects a $400 million revenue headwind as tariffs hit the sales of products made in the US and sold in China. It also expects tariffs to raise the cost of parts it sources in China.

Snap

Snap, the company behind Snapchat, declined to issue guidance for Q2 in its first-quarter earnings report on April 29.

"Given‬‭ the‬‭ uncertainty‬‭ with‬‭ respect‬‭ to‬‭ how‬‭ macro‬‭ economic‬‭ conditions‬‭ may‬‭ evolve‬‭ in‬‭ the‬‭ months‬‭ ahead,‬‭ and‬‭ how‬‭ this‬‭ may‬ impact‬‭ advertising‬‭ demand‬‭ more‬‭ broadly,‬‭ we‬‭ do‬‭ not‬‭ intend‬‭ to‬‭ share‬‭ formal‬‭ financial‬‭ guidance‬‭ for‬‭ Q2," the company said in a letter to investors.

Snap also said that while the company's revenue has continued to grow, it has "experienced‭ headwinds‬‭ to‬‭ start‬‭ the‬‭ current‬‭ quarter."

Stellantis

The auto giant, which owns companies including Jeep, Dodge, Fiat, Chrysler, and Peugeot, said on April 30 it was suspending its financial guidance. Stellantis said it was rolling back the guidance because of the uncertainty tariffs are causing.

"The company is highly engaged with policymakers on tariff policies, while taking action to reduce impacts," the carmaker said in a statement.

Mercedes

Mercedes-Benz joined the list of automakers that have withdrawn their full-year guidance amid tariff-related uncertainty. The German luxury car brand said on April 30 that it can't offer reliable estimates in the current environment.

On a call after the announcement, Mercedes' chief financial officer said its previous guidance wouldn't have changed without the tariffs.

Ford

Ford is the latest auto giant to suspend guidance and outline how tariffs will impact its bottom line.

In its first-quarter earnings release on May 5, the American carmaker said it would suspend its full-year financial guidance because of supply chain disruptions and the possibility of increased tariffs in the US. The company said that retaliatory tariffs and other restrictions from foreign governments also pose risks.

Ford estimated that full-year adjusted earnings before interest and taxes will take a $1.5 billion hit because of tariffs.

"These are substantial industry risks, which could have significant impacts on financial results, and that make updating full year guidance challenging right now," Ford wrote in the earnings release.

American Eagle

American Eagle withdrew its guidance for the year "due to macro uncertainty," according to a press release, but didn't mention tariffs. The clothing retailer said that it anticipates revenue to decline roughly 5% in the first quarter compared to last year, coming in at approximately $1.1 billion. Same-store sales are expected to decline around 3%.

CEO Jay Schottenstein said that the company has had trouble selling items and now has excess inventory, and that "we are clearly disappointed with our execution in the first quarter."

• Intel's CEO, Lip-Bu Tan, announced layoffs and a stricter RTO mandate in a Thursday memo.
• The company also reported flat revenue and a significant loss. Its stock was down after hours.
• Other tech companies are similarly directing employees to focus on efficiency.

Intel's new CEO promised big changes within weeks of taking over the chipmaker. Now he's laying out steps that echo how Big Tech companies have changed their workforces.

In a memo to employees posted Thursday on the company's website, Lip-Bu Tan detailed his plan for the company's culture: more time in the office, less admin, and leaner teams.

"The most important KPI for many managers at Intel has been the size of their teams," Tan wrote, referring to key performance indicators. "Going forward, this will not be the case. The best leaders get the most done with the fewest people."

He said the company would lay off employees over the next few months, starting this quarter. It is not clear how much Intel plans to reduce its head count. As of December, the company employed 108,900 people full time, a decrease of more than 12% from the previous year, after a round of cuts under the previous CEO.

Tan said that by September, the company would mandate four days in the office, up from three days now. He's making the company's goal framework requirements optional and cutting down on administrative tasks.

The CEO also took aim at excessive meetings, which have long been a pet peeve of top executives, including JPMorgan CEO Jamie Dimon.

"I am instructing our leaders to eliminate unnecessary meetings and significantly reduce the number of meeting attendees. Too much valuable time is being wasted," he said.

Tan, an electronics veteran, took over as Intel's CEO last month. His appointment came after Pat Gelsinger suddenly left the role in December. It's a tumultuous time for the once dominant chipmaker, which has been struggling to compete with Nvidia and Taiwanese players.

On Thursday, Intel reported its first-quarter earnings. Its revenue was $12.7 billion — flat compared with last year — and it reported a loss of $800 million.

The company's stock was down more than 5% in premarket trading Friday after weaker-than-expected earnings guidance for the second quarter. It's down nearly 39% over the past year.

Intel did not respond to a request for comment.

'Lean, fast and agile'

Tan's "do more with less" memo reflects a broader cultural crackdown across tech.

Younger companies like Meta, Google, Amazon, and TikTok are rethinking a US tech culture known for pandemic-era remote work, unlimited office perks, top-line pay, and job security.

Intel also joins the rest of Big Tech in embracing the "great flattening." Companies, including Meta, have cut middle-level management in favor of more streamlined teams and fewer tiers of hierarchy, which they say should lead to less bureaucracy.

Across the industry, free massages and pet day care services have been replaced with memos filled with words such as "efficiency" and "scrappiness and frugality." Tan, too, wrote in his letter: "Our competitors are lean, fast and agile — and that's what we must become to improve our execution."

Tan's note echoes memos that the CEOs of Amazon and Shopify sent to their employees.

"We want to operate like the world's largest startup," Amazon's Andy Jassy wrote in a September letter. "That means having a passion for constantly inventing for customers, strong urgency (for most big opportunities, it's a race!), high ownership, fast decision-making, scrappiness and frugality, deeply-connected collaboration."

In a memo to employees that Shopify's Tobias Lütke shared on social media earlier this month, he wrote: "In a company growing 20-40% year over year, you must improve by at least that every year just to re-qualify."