• Americans face potential tax bill changes as Trump's 2017 tax package is set to expire this year.
• The 2017 Tax Cuts and Jobs Act lowered rates and shifted brackets for filers.
• Republicans plan to prioritize tax policy, aiming to extend cuts and reduce other taxes.

Americans could see their tax bill change next year as a legislative battle looms.

Many provisions from President-elect Donald Trump's major tax package from his first term, 2017's Tax Cuts and Jobs Act, are set to expire this year. The legislation lowered tax rates for many Americans and shifted tax brackets. For many everyday Americans, TCJA's expiration would mean the possibility of a larger tax bill — the Tax Foundation estimates that 62% of filers would see a tax increase should TCJA expire.

With the GOP controlling the White House and both houses of Congress, however, it's likely that the bulk of the law will be extended.

"President Trump is committed to lowering the tax burden on the American people who elected him in November with an overwhelming mandate to Make America Wealthy Again," Karoline Leavitt, a Trump-Vance transition spokeswoman, said in a statement to Business Insider. "The Trump Administration will be dedicated to ensuring that American workers keep more of their hard-earned dollars in their pockets while growing the strongest and most resilient economy the world has ever seen."

To determine the potential tax impacts for Americans, we used the Tax Foundation's projections of what tax rates and brackets would be for single filers in 2026 under a TCJA extension and under a TCJA expiration scenario.

TCJA also impacts the deductions that filers can claim on their taxes, but, since those are often determined on an individual basis based on varying circumstances — such as having a child or business — they are not included in these calculations, which cover taxable income after any such deductions and adjustments.

Higher earners would end up with the biggest tax increases if TCJA expires. For instance, an American with $1 million of taxable income would see their tax burden grow by over $12,000 should TCJA provisions expire.

But the tax bills of Americans in the middle income band would see the highest percent increase should TCJA expire. For instance, a filer with $50,000 of taxable income would see their tax burden increase by nearly 20%; comparatively, a filer making $700,000 would see their tax burden grow by just around 2%.

Of course, this doesn't tell the whole tax story. Measures like the Child Tax Credit were expanded under TCJA, meaning that, should the bill expire, parents would owe more or get a smaller refund.

The TCJA also capped how much filers could deduct for paying hefty local taxes. For Americans in high-tax areas, which includes states like New York and New Jersey, the State and Local Tax deduction cap expiring could mean a bigger break on their taxes.

"The change in the tax brackets is only a small part of the story of the TCJA," Ernie Tedeschi, Yale Budget Lab's director of economics, told BI. "Most of the story is actually in the law's changes to deductions, exemptions, and credits."

Republicans are already lining up to tackle tax policy as one of their major priorities once they hold their House, Senate, and White House trifecta. The GOP may go even further than merely extending the TCJA's cuts through proposals from Trump to nix taxes on tips, overtime, and Social Security.

But slim Republican congressional majorities will likely mean that any tax changes could be contentious, although Republicans are gearing up for the fight. Rep. Jason Smith, the chair of the House Ways and Means Committee, said in his weekly report that he's been working closely with Trump on a bill.

"Passing one big, beautiful bill is the best way to ensure as much as possible of President Trump's agenda is enacted," Smith said. "In one fell swoop, we can secure the border, unleash American energy, and deliver tax relief to workers, families, farmers, and small businesses. These are the policies the American people are demanding. Now it's up to Congress to deliver."

Are you concerned about your tax bill changing, or did it change in the wake of 2017? Contact this reporter at [email protected].

• Some companies are calling employees back to the office and hiring for in-person roles.
• But many Americans continue to work at least part of the week from home.
• Some workers could retain their flexible work arrangements but struggle to find a new remote role.

Americans who want to keep their work-from-home arrangements may need to cling to their current jobs.

Corporate giants like Amazon, AT&T, and JPMorgan have notified employees they must return to the office five days a week this year. This comes as the share of remote and hybrid postings on job platforms has ticked down in recent years — which has made landing one of these roles more difficult.

As of November, the share of remote and hybrid job postings on Indeed had declined to 7.8% from over 10% in 2022. On LinkedIn, the share of remote or hybrid postings had declined to roughly 21% as of December, down from 26% two years prior.

But remote and hybrid work hasn't faded away. In December, roughly 23% of US workers worked from home at least part of the time, up from about 19% two years prior, per the Bureau of Labor Statistics. Meanwhile, about 10% worked completely from home.

"We keep hearing stories that 'work-from-home is over,' and while yes it is true for some firms, others must be doing the reverse," Nicholas Bloom, a Stanford University economist and cofounder of the remote work research website WFH Research, told Business Insider. Bloom's research shows that the share of paid full days worked from home in the US has been fairly steady over the past two years — fluctuating between roughly 25% and 30%.

Bloom and other economists told BI that the divide between remote/hybrid job postings and work-from-home rates suggests that some employers could be prioritizing in-person hires while letting some of their existing employees continue working more flexibly. They said this strategy could allow companies to boost their in-office attendance without drawing the ire of employees who've grown used to a remote or hybrid arrangement.

"We know that companies frequently make exceptions to return-to-office mandates for employees to avoid losing them, so policy changes might affect new hires more than incumbent employees," Julia Pollak, chief economist at ZipRecruiter, told BI.

This approach would allow workers to retain their flexible work arrangements — but make it more difficult for them to snag a remote or hybrid role at another company, Kory Kantenga, head of economics, Americas, at LinkedIn's Economic Graph Research Institute told BI.

"If you already have a job and you are grandfathered into this flexible work, you're maintaining it in a lot of cases," Kantenga said. "Companies are using those new positions to roll that flexible work back a little bit, but they're not necessarily rolling it back for the workers who already have it."

Why remote work could stick around

Even if more businesses prioritize in-person hiring, it could take a while for work-from-home rates to fall significantly, said Lisa Simon, chief economist at Revelio Labs. That's because hiring, layoffs, and quits have slowed, which means that "very few people have actually changed jobs in the last two years" and businesses haven't added many new workers who would be subject to recent RTO mandates, Simon told BI.

However, the modest share of available remote/hybrid jobs could be somewhat misleading. Simon said that a slowdown in hiring for white-collar roles — where flexible working arrangements are more common — could be pushing down remote/hybrid job postings.

Additionally, Bloom said some companies might not want to commit to a flexible working arrangement in the job posting, but could ultimately allow the employee to work from home at least some of the time.

"They don't want to repeat the 2021 mistake of promising generous work-from-home only to have to painfully reverse this later," he said. Bloom added that for some roles — like university professors — working from home on days when they don't have classes is a norm of the job. However, a job posting might not classify this position as remote or hybrid.

Pollak said remote/hybrid roles are generally underrepresented in job postings because they tend to have lower turnover than the typical in-person job.

"A hotel may replace its entire staff of janitors three times a year, but only replace its remote customer support staff every two years," she said.

Has your employer asked you to work from the office more days a week? Reach out to this reporter at [email protected].

• Justin Baldoni sued the New York Times for its story about Blake Lively's complaint against him.
• He alleges that the paper took his publicists' quotes out of context and omitted an emoji.
• Experts say emojis can change the meaning of a statement, and that Baldoni might have a point.

As the legal battle between Blake Lively and Justin Baldoni ramps up, one of the most contested points may involve an emoji.

In his lawsuit against the New York Times, Baldoni said the paper failed to include an upside-down smile emoji — which is used to convey sarcasm or silliness — in a quote, effectively changing the meaning.

The Times quoted Jennifer Abel, one of his publicists, as saying "Wow. You really outdid yourself with this piece" to Melissa Nathan, a crisis management expert. Read at face value, it would appear that Abel is congratulating Nathan for contributing to a Daily Mail story critical of Lively.

However, Baldoni said that the upside-down emoji at the end indicated that Abel was being sarcastic and therefore changed the meaning of the text.

He raises an interesting question about modern communication, Dr. Monica Riordan, a computer-mediated communication professor at Chatham University, told Business Insider.

"I would argue that the inclusion of that emoji is actually very important," Riordan said. "You can't just remove an emoji from a message and indicate that the message contains the same meaning."

Others disagree, arguing that the emoji omission won't be enough to help Baldoni's case.

Emojis make up for a lack of body language

Emojis originated in Japan in the late '90s as a set of pixelated images created for an early mobile internet platform. By 2011, Apple introduced an emoji keyboard on iPhones and has regularly replenished it with new ones.

As communication has become more reliant on digital media, from texting close friends to messaging online dates, emojis have become crucial for filling in the blanks for what we don't see.

"Emojis have similar functions to body language and spoken interaction in the digital space," Vyvyan Evans, a linguist and author of "The Emoji Code," told BI. As with IRL body language, he said emojis are often used to establish tone.

Evans compared the upside-down smiley emoji to rolling one's eyes or shrugging in real life. Because tone of voice and facial expressions can drastically change the meaning of a phrase, emojis can, too.

"If an emoji is removed, it's not just that it impacts the tone, it's changing the meaning in a substantive way," he said.

Emojis are more complicated than tone of voice

Unlike smiling or frowning, which have more universally agreed-upon meanings, emojis are more up to interpretation, Riordan said. How people use emojis can differ by generation, for example.

It gets even thornier when analyzing a relationship between two people who may have their own shared language. It's common to develop some norms around emoji use that maybe people outside that relationship might not actually understand or may misinterpret," she said.

Not everyone uses the upside-down emoji the same way — some mean it to be ironic, others to denote frustration or painful acceptance.

It makes analyzing emojis in texts all the more challenging. Riordan said there are "perils" to wading through so many layers of communication to analyze a person's intent. It gets even hazier when the emoji is cut from a quote.

It likely won't be enough to help Baldoni's case

Sean Andrade, a Los Angeles lawyer who's represented plaintiffs in libel cases, previously told BI that the Times removing context such as emojis would be "a little unethical." Still, he believes it won't be enough to disprove that Baldoni's team engaged in a smear campaign against Lively.

Riordan said Baldoni can make an argument for the emoji changing the meaning of the message, but would likely "have a difficult time proving intent." Not everyone views emojis as necessary to quote.

However the case pans out, Evans said it brings up an important point for journalists: it can be "very dangerous" from an ethical and legal standpoint to omit emojis that could dramatically change the interpretation of a quote.

"The communicative intent is what is important," he said. "Without the other relevant elements, you're changing that and misreporting," whether a journalist means to or not.

• Startup CTO Arun Prasad Jaganathan has been in the US for almost 14 years, mainly on an H-1B Visa.
• He said the application process isn't easy and companies don't sponsor applicants to fill spaces.
• The system has flaws, but there are misconceptions about H-1B employees contributing to the economy.

This as-told-to essay is based on a conversation with
Arun Prasad Jaganathan, CTO of workforce platform Jugl. He is from Coimbatore, India, and now lives in Prosper, Texas. His identity, work experience, and visa status have been verified by Business Insider. The following has been edited for length and clarity.

I have been in the US for almost 14 years. I built most of my career here. I have my family here. I have my home here. So it would be tough for me to shift back to India and build something from there.

I wanted to come to the US to experience the technology innovation firsthand. The US adapts technology faster than anywhere in the world.

I completed my computer science and engineering degree in India and got an offshore position at global tech services company Cognizant. Eventually, they wanted me to come to New York because they felt like my presence in the US would help them build a better product and train them to scale their processes. So I came in on an L-1B visa, which is for an intra-company transfer to help on a project. Then, I applied for the H-1B Visa.

H-1B is mainly for high-skilled workers. It helped me gain more product and business knowledge because it gave me first-hand experience working with US businesses.

I'm in the process of acquiring permanent residency now, but the H1-B visa has helped me grow from my role at Cognizant to lead and architect at nThrive to managing advanced technology projects at KPMG. Now, I am leading technology and product for the startup Jugl.

It's not easy to get

To get the H-1B Visa, I needed to show a lot of documentation, including my degree, résumé, and job offer. I also needed a very good support letter from the client my company served, arguing the need for me to be placed in that location. The first time, I also had to go for an interview with a US Citizenship and Immigration Services officer once the documents were submitted.

Every three years, you have to go through the same process. If there was no premium processing, which costs more, it took around three to six months to get my renewal. With premium processing, it takes about two weeks.

US Citizenship and Immigration Services scrutinizes every application. Companies don't hire H1-B talent just to fill spaces. They are very cautious about whom they sponsor for H-1B and they make sure that it's the top talent.

There are also regular audits from USCIS. They come and visit the companies and interview them. They audit employees. They ask questions to make sure they are placed in the same roles that they were submitted in the application.

The system has flaws — but there are misconceptions

The H-1B Visa system isn't perfect. However, I would not agree with the misconception I've heard that the H-1B visa is causing job losses. Any process will have loopholes, and they're working toward fixing them, but how fast they are going to do it is a question of the administration and other government functions.

Another argument is that H-1B employees don't contribute to the economy because they don't pay taxes. H-1 B employees pay taxes and insurance, have 401Ks and IRAs, and contribute back to the economy because they buy homes and cars and invest here in the US. I have a home, wife, and kids. I trained people already in the US. I helped them gain knowledge, build teams, develop products, and grow companies.

USCIS is making adjustments. The lottery system is little bit more difficult now because it's not just about skill level, it's more about luck. Now, because there is a lottery system, people with better skills might be frustrated.

In the last couple of years, many people were applying through different companies for a higher chance of getting picked in the H-1B lottery. USCIS understood this was happening, so they updated their system.

There is still room for improvement. For example, USCIS increased wages H-1B employees have to make and also increased sponsorship fees. The downside to it is companies have less incentive to hire.

With the startup I work for now, if we cannot find the talent we are looking for in the US, we have to hire H-1B candidates. But at the early stages of startup, it is a higher cost for us to hire H-1B workers. The H-1B process involves paying the attorney and legal fees as overhead, in addition to the high salary we need to pay compared to local talent.

Now other countries are catching up, like China and India. If H-1B is becoming tougher for workers they're going to open startups where they can build those products. Or, multinational corporates are going to open centers in locations where they can find people like in India, Mexico, Canada, and many other places.

• Hotmail is a Microsoft-owned email platform that surged to popularity over two decades ago.
• Microsoft ultimately folded Hotmail into its broader software suite known as Microsoft Outlook.
• You can still create a Hotmail.com email address, but through Outlook.

A generation ago, AOL, Ask Jeeves, GeoCities, and Hotmail were all the rage. Surprisingly, of those 1990s vintage platforms, only AOL still exists in anything like its original form. Ask Jeeves is now Ask.com, and GeoCities is simply gone.

As for Hotmail, it's still around, but not in the same form as you remember it. Hotmail is now part of Microsoft Outlook, an email, calendar, contact, and scheduling software suite favored by many businesses. And while you can still get and use a Hotmail email address, don't bother trying to do so at Hotmail.com — you'll just be redirected to Outlook, which was once part of Microsoft Office, now known as Microsoft 365.

When was Hotmail launched and what were its early days like?

Hotmail was first launched in the summer of 1996, and it was bought by Microsoft the following year, as the company coasted on the success of its massively popular Windows operating system. Microsoft ultimately rebranded Hotmail as MSN Hotmail, though that name was rarely used by the public.

Despite being one of the most popular email platforms of the late 1990s and early 2000s, Hotmail was also plagued by problems.

In 1999, for example, it came out that any account could be logged into using the word "eh" as the password, prompting a hurried security fix. And then, two years later, hackers found an easy way to extract email from another user's account by creating a URL that included that account's email address.

Still, Hotmail remained popular throughout the first decade of the 21st century, though in the 2010s, Microsoft would merge Hotmail into its new program, Microsoft Outlook.

What happened to Hotmail?

In 2013, Microsoft rolled Hotmail into Outlook and sunset the original email service. But despite being officially discontinued, Hotmail did not in fact go away. You can still use your Hotmail email address and in fact you can log into Outlook with it. You can also log into Outlook with a Live or MSN email address, or of course with an Outlook email.

As of now, Outlook seems like it will not be going anywhere any time soon, so don't worry about yet another change coming. While not as venerable as, say, Microsoft Word, it is a core platform of the company.

Can you still get a Hotmail address?

Yes, you can still get a Hotmail email address, but you will have to access it through the Outlook platform. When signing up, you can choose a Hotmail.com address as your email domain.

How can I access my old Hotmail account?

To recover an old Hotmail account, go to Microsoft's account recovery page, then follow the prompts on screen, which will have you enter an old email account to be recovered as well as a current account to which to send the information.

Keep in mind that if your Hotmail account was totally inactive for more than two years it may have been permanently deleted.

• The LA wildfires could cost between $250 and $275 billion in damages while displacing thousands.
• High property values in areas like the Pacific Palisades are contributing to the massive cost.
• Governments, insurers, and residents face long-term financial burdens from the disaster.

The damage and economic cost estimates for the wildfires in Los Angeles are in the hundreds of billions, a bill that will be split among local and federal governments, insurers, and residents.

As of January 14, LA authorities reported that 24 people have died and over 12,300 structures have been destroyed. Meanwhile, more than 40,000 acres have burned, displacing residents and leveling entire neighborhoods. High winds expected this week have firefighters racing to contain the blazes.

And, as the damage increases, so does the price tag.

A new estimate by weather data platform AccuWeather puts the total cost between $250 and $275 billion and calls the damage "catastrophic." The full cost of the wildfires won't be clear until long after the smoke clears, and expensive rebuilding efforts could take years.

The wildfire cost will likely be calculated through direct and indirect damages

Since 1980, more than 400 weather and climate events in the US have exceeded $1 billion in damages when adjusted for inflation, per the National Centers for Environmental Information.

The Los Angeles wildfires could be among the most expensive on record. The total cost of a disaster is calculated from both direct and indirect losses, said Jeff Schlegelmilch, director of the National Center for Disaster Preparedness at Columbia University.

AccuWeather's estimate accounts for direct costs like rebuilding, relocation, cleanup costs, and emergency shelter expenses. It also factors in indirect costs: healthcare bills for people who were injured or exposed to wildfire smoke, lost wages and housing displacement for employees, along with hits to the local job market, business scene, and tourism industry.

Part of the reason that the LA fires are so costly is because of the area's high property values, Schlegelmilch said. The severely impacted Pacific Palisades neighborhood, for example, is home to several celebrities and has an average home value of $3.5 million.

Beyond direct damages and lost economic opportunity, there are costs that are difficult to quantify. Many LA residents are facing the costs of short or long-term displacement, along with emotional or physical trauma.

A combination of governments, insurance companies, and LA residents could pay the bill

In the immediate aftermath of a natural disaster, local and federal governments pick up some of the tab.

The Federal Emergency Response Agency (FEMA) provides a variety of aid like supplying hazard mitigation, clearing debris, and financing emergency shelters, along with offering monetary support to some displaced residents. The federal government often signs off on block grants — money that is directed from national to local governments for a specific purpose, like disaster relief — but it could take months or years for that money to become accessible to local communities.

State and LA-county leaders, the Small Business Administration, and philanthropic groups will also likely shoulder some rebuilding costs for homes and businesses.

President Joe Biden said the federal government will cover 100% of fire response costs and provide a one-time $770 stimulus check for those impacted: "I told the governor and local officials, spare no expense," he said on January 9. Congress has not yet reached an agreement on an aid package, and it's not clear what President-elect Donald Trump's plan will be for disaster relief in California.

Still, most government response programs are not built to provide long-term aid.

"FEMA is not designed to make you whole again," Schlegelmilch said. "It's not designed to completely pay for the cost of rebuilding a new house."

Private and state insurers will be responsible for covering much — but not all — of the property damage for their customers, he added.

However, not all homeowners are insured. Companies like State Farm and Farmers have recently cut or restricted coverage in areas they deem "uninsurable" due to high and rising disaster risks, leaving thousands of LA-area households uninsured or forced to enroll in FAIR, the state's insurer of last resort. This means some residents can expect significant out-of-pocket costs to repair their homes.

Schlegelmilch added that LA residents will feel wildfire impacts in other parts of the economy too.

The cost of construction will likely increase as local residents and businesses look to rebuild, he said. Schlegelmilch expects that the price of hiring contractors, plumbers, electricians, and other specialists will increase with steep demand.

Consumer prices in the LA-area for things like rent, lumber, and building materials may also spike because of price gouging, increased demand, or damaged supply, Schlegelmilch said. He said taxes likely won't change in the short-term, but the overall cost of living in the area could become more expensive with time.

Past natural disaster response shows what LA might expect

Previous devastating natural disasters give a clue into how wildfire costs could be handled in LA.

Following 2012's Hurricane Sandy in New York, Congress provided around $20 billion adjusted for inflation to 2024 dollars to affected areas through a Community Development Block Grant. That represents a share of the storm's inflation-adjusted $88.5 billion cost, per the National Centers for Environmental Information. Hurricane Katrina in 2005 caused $201.3 billion in inflation-adjusted damages, which was partially covered by federal emergency response and recovery grants.

Schlegelmilch said that a key challenge with disaster relief in cases like Sandy and Katrina is that aid can be distributed inequitably between high and lower-income areas because wealthier areas often have stronger insurance and access to resources. He cautions that the same could happen in California.

"Those that are the most vulnerable before often see that vulnerability grow," Schlegelmilch said," adding "a lot of times we see this along racial lines, along socio-economic lines, and we see communities decades later still struggling to recover when the downtown areas are nice and new and everyone says it's back to normal."

Looking forward, Schlegelmilch said that disaster preparedness policies could help alleviate losses and keep residents safe. He said this could look like building with flame-retardant materials, widening roads that allow for emergency vehicles to easily pass through when necessary, and planting less flammable vegetation in dry areas.

"There's actually quite a bit that can be redone in the rebuilding process that can help lower the risk into the future," he said. "There are costs associated with it, and in the short-run, it may be more expensive. But, in the long run, it's a lot less expensive."

Have you experienced steep out-of-pocket or insurance costs due to a natural disaster? Are you open to sharing your experience with a reporter? If so, reach out to [email protected].

• Jeffrey, 57, submitted an average day of eating to be reviewed for Business Insider's Nutrition Clinic.
• A dietitian said his diet might be too restrictive to maintain, and he should eat more carbs.
• If you'd like to have your diet reviewed by an expert, fill out this form.

Jeffrey, 57, submitted his eating routine to Business Insider's Nutrition Clinic, where qualified dietitians and registered nutritionists offer readers advice on their eating habits.

He said his goal is to lose weight.

Jeffrey described himself as "somewhat active," having recently started doing yoga or calisthenics daily. He also plans to build up to walking a minimum of two miles a day.

Jaclyn London, a dietitian, told BI that Jeffrey's restrictive diet would likely be difficult to maintain long-term, which could see him fall into a binge-restrict pattern and even leave him nutritionally deficient.

"It is possible to lose weight, keep it off, and still enjoy your life," London said. "And all of that can be achieved with some small but meaningful tweaks he can make to each meal and through the addition of some strategic snacks."

Eat a range of fruits at breakfast

For breakfast, Jeffrey eats three eggs with some avocado, plus Greek yogurt with berries or walnuts.

London said Jeffrey's breakfast is a nutritious choice, providing protein, satiating fats, and some fiber.

However, he could eat more fruit by always having some at breakfast and eating some for snacks and in meals later in the day.

"Berries are a very common 'low carb' fruit, but the truth is, fruit (and other whole foods) provide complex carbs on which our bodies thrive," London said. "Fruit provides antioxidants, fiber, key minerals, and phytochemicals that help us feel our best by supporting our gut health and overall immunity, and increasing our fiber intake so we can get (and stay) regular."

Don't be afraid of complex carbs

For lunch, Jeffrey typically has a turkey spinach wrap using a low-carb flatbread with tomato and feta cheese.

London recommended Jeffrey eat more carbs in the form of starchy vegetables, fruit, whole grains, and legumes.

"All of these are complex carbohydrates, which are nutrient-dense, provide additional fiber, minerals, and phytochemicals which deliver powerful nutritional benefits and have been linked to decreased risk of heart disease, cancer, and diabetes," she said.

Starchy vegetables like potato, sweet potato, and squash can be a good place to start, London said, as they are satisfying and will help Jeffrey stay feeling full longer.

He could then try to incorporate grains like oats, buckwheat, and quinoa into his meals once he sees that the vegetables only make him feel more energized without causing weight gain, she said.

Eat snacks rich in protein and fiber

Jeffrey said he generally doesn't snack but if his energy levels are low he might have an Atkins shake.

London said Jeffrey would likely benefit from eating more snacks rich in protein and fiber to prevent him from becoming ravenous before each meal and help him stay energized.

"Include fiber-filled foods like vegetables and fruit; pulses, nuts, and seeds; plus protein from animal and plant sources at each eating occasion, and add snacks that are satisfying, nutritious, and provide just enough energy to keep your weight loss on track without losing too much too fast," London said.

Instead of an Atkins shake, London recommended making a high-protein, whole-food smoothie using Greek yogurt or milk, fresh or frozen fruit, and some nut butter.

"This will add some fiber-filled carbs, protein, plus healthy fat to boost satiety and add extra nutrient density to Jeffrey's day," London said.

Stay hydrated and strength train

For dinner, Jeffrey might eat chicken, fish, or shrimp with green vegetables (such as broccoli, green beans, or asparagus). Sometimes, he adds a small chickpea salad with tomatoes and cucumbers, he said.

London said it's great that these meals are nutrient-dense and high in protein and fiber, but she again recommended adding some carbs. London said Jeffrey should aim to have carbs take up 40% of his overall energy intake.

Equally, London advised Jeffrey stay hydrated by drinking plenty of water and incorporate strength training into his workout routine.

"This is critical at every age, but especially as we get older," London said. "Replacing fat mass with lean muscle is the most effective way to keep weight off, maintain metabolic health, promote better strength, balance, and bone health as we age, and help your metabolism work more efficiently to promote slow, steady, and sustainable weight-loss over time."

• Synthesia has secured $180 million in Series D funding led by NEA, valuing it at $2.1 billion.
• The London-based startup uses AI to create videos and avatars for businesses.
• Check out the 18-slide pitch deck the startup used to secure fresh funding.

Generative AI startup Synthesia has secured $180 million in a Series D funding round led by venture firm NEA.

The London-based startup, launched in 2017, creates AI-generated videos and avatars for businesses.

The round values the startup at $2.1 billion — making it the UK's largest generative AI startup by valuation, according to data platform Dealroom.

"Over the last few years, we think we've built the market-leading AI video platform for enterprise," cofounder and CEO Victor Riparbelli told Business Insider in an interview.

Synthesia offers its customers a suite of products, including tools for creating custom AI avatars, an AI screen recorder that can help edit videos on the startup's platform, and an AI video assistant that can turn web pages into videos.

Companies like Zoom and UiPath use Synthesia's platform to develop everything from customer service videos to corporate training clips.

Riparbelli said the company's global client base distinguishes it from other European AI companies. "Over half our revenue comes from the US, so we've been quite successful at building not just a regional player but a global player out of the UK," he said.

Synthesia has benefited from the heightened investor appetite for growth-stage AI startups. The Series D was led by NEA, with participation from existing investors, including Google Ventures, and new backers, including WiL (World Innovation Lab), Atlassian Ventures, and PSP Growth. This brings its total funding to $330 million.

With the cash injection, Synthesia will continue to hone its existing product suite and build out its video publishing platform. "We're also building some of our AI agents that help you in the video production process," Riparbelli added.

The startup also plans to expand its geographic footprint in Japan, North America, and Australia in the coming year.

Check out the 18-slide pitch deck it used to secure the fresh funds.

• The Russian central bank has dismissed rumors of freezing retail bank deposits.
• Freezing deposits would harm financial stability and undermine trust, the bank said.
• Last year, the central bank hiked rates to 21% in an attempt at cooling Russia's wartime economy.

Russia's central bank has taken to Telegram to publicly dismiss rumors that its citizens' bank deposits may be frozen.

The idea that retail bank deposits could be frozen is "absurd" and "unthinkable," the Central Bank of Russia wrote in a Telegram post on Monday.

"In addition to the fact that this is a gross violation of the right of citizens and companies to manage their assets, such a step will undermine the foundations of the banking system and the financial stability of the country," the regulator wrote.

The concerns came after Elvira Nabiullina, Russia's central bank governor, hiked rates to 21% late last year in a bid to cool soaring inflation — an economic pain point President Vladimir Putin has acknowledged.

The high interest rates attracted a flood of bank deposits. Recently, rumors emerged that retail deposits could be frozen, prompting Russians to swarm the central bank with questions, the bank wrote in its Telegram post.

"It is quite obvious that in any market economy, of which bank lending is an integral part, such a step is unthinkable," the bank wrote in the post dismissing the rumors.

The rumors about frozen deposits are a reflection of the nervousness in Russia's wartime economy.

This is not the first time Russia's central bank has addressed concerns that Russians' savings could be frozen and interest withheld.

In November, Nabiullina dismissed such concerns as "nonsense," Russia's RBC news outlet reported. She was responding to a question from the lower house of Russia's parliament.

Russia has been under a slew of Western sanctions since it invaded Ukraine in February 2022. It has managed to avoid going bankrupt thanks in part to growth from its massive spending on military and defense activities. It has also managed to pivot to alternative export markets such as China and India.

However, the Russian central bank has warned that the economy is at risk of overheating.

Russia's economy faces multiple issues like high inflation, a decline in the value of the ruble, and a severe manpower shortage.

In November, the country's inflation rate hit nearly 9%. Prices of staples from butter to potatoes in the country have risen sharply, putting a strain on the finances of ordinary citizens.

As the war in Ukraine nears its fourth year, Russia's economy could run out of cash before the end of this year, a Swedish economist wrote on Tuesday. This could hit its ability to continue financing the war and its economy.

• Consuming diet and false nutrition content online is part of what led Rachel Evans to develop an eating disorder.
• She became an advocate of "clean eating," a trend she now criticizes for being restrictive.
• Now an ED psychologist, she advises clients to view online health content through a critical lens.

This as-told-to essay is based on a conversation with Rachel Evans, 34, a chartered psychologist who lives in the UK. The following has been edited for length and clarity.

There's often no single reason why a person develops an eating disorder, but viewing misleading nutrition information on social media contributed to mine.

Through my recovery and training to become an eating disorder recovery psychologist, I learned ways to navigate the treacherous online health space and free myself from restrictive eating.

Growing up in the 90s, I read about celebrity diets and workouts in magazines and thought I should copy what they were doing.

It got worse when social media became a part of my life. In 2012, when I was studying psychology at university, Instagram was becoming popular, and the "clean eating" trend was everywhere.

Some clean-eating influencers would promote certain types of food as "good" and "bad," and make extreme claims like saying you should eat foods in a certain order.

Some of the messages had a kernel of truth to them, and the more I started to believe those, the more I started to believe the farfetched ones, too. The more I became obsessed with being healthy, the less critical I got.

I started to develop some health problems. My digestion was messed up, my hair was falling out, and I stopped having periods.

A number of other factors also contributed to my developing an eating disorder. By 2013, I was finishing my master's in health psychology, and I didn't know what I was going to do next. I based a lot of my self-worth on how well I did in my studies, and I was about to lose that stream of validation, so eating perfectly became a hobby I could get really good at.

I became a 'clean-eating' blogger

In 2014, I was living abroad in Singapore and working as a research assistant. At the time, I was maintaining a restrictive diet I had found on YouTube. My preoccupation with food was interfering with my life.

I went into therapy, which helped a bit as I managed to introduce more foods into my diet.

The "clean eating" trend was going strong at the time, and I started posting photos of what I ate on Instagram and created a blog. I amassed thousands of readers, had partnerships with popular brands, and I promoted protein powders and nut butters.

At the time, I thought I had recovered because I was better than I was at my worst, but looking back, I had once again set myself strict rules to follow. Behind the scenes, I was struggling with cycles of binge eating and purging.

Once I decided I wanted to help other people, I knew I had to help myself first

In 2017, with the help of a coach, I decided that I wanted to become an eating disorder recovery psychologist. That was ultimately helpful to my recovery. Once I decided I wanted to help other people, I knew I had to help myself first.

I already had a strong foundation in this area, as I have a Ph.D. in the psychology of eating, habits, self-control, and behavior change from the University of Sheffield, UK. On top of that, I studied to become a master practitioner in eating disorders at the National Centre for Eating Disorders in 2018.

As I learned how to treat people with eating disorders, my relationship with food slowly got more flexible. I deleted the blog in 2020 because it no longer aligned with my views. Now, I post educational content on my Instagram with a more nuanced perspective.

When I was recovering, I spent less time on Instagram and unfollowed accounts that promoted the lifestyle I was trying to move away from.

Food no longer takes up much of my headspace. I try to cook from scratch when I can and eat enough fruits and vegetables every day, but I don't stress if it doesn't happen.

When I speak to my clients about navigating nutrition and diet content online, I tell them just because someone online presents something as a fact, that doesn't mean it's true, or true for you. They don't know you and your body better than you.

I remind my clients to take "what I eat in a day" videos with skepticism and that even if they eat and exercise like someone else, they still might not look like them because their genetics are different.

I also tell my clients to try to scroll less "mindlessly" and make sure they're thinking critically about what they see online.

• Finland said a Russia-linked oil tanker was close to wreaking havoc on its undersea cables.
• Its president said that officials intervened about 12 minutes before the damage got "much worse."
• The tanker is accused of being part of a Russian "shadow fleet" sabotaging European infrastructure.

Finnish President Alexander Stubb said on Tuesday that his country had stopped the crew of a Russia-linked oil tanker just minutes before it caused catastrophic damage to undersea cables in the Baltic Sea.

"Had it continued for another 12 minutes, the carnage would have been much worse than the four basic cables that were there," Stubb told reporters at this week's Baltic-focused NATO summit in Helsinki.

The tanker, the Eagle S, was seized in late December as Finland probed recent damage to its Estlink-2 power line, one of two vital cables carrying electricity in the Baltic Sea.

Four data cables were also severed.

Finnish investigators have accused the Eagle S crew of trying to sabotage the cables by dragging the ship's anchor for miles along the seabed.

The Finnish head of the investigation, Risto Lohi, told Reuters on Tuesday that the Eagle S would likely also have attempted sabotage on the other power cable, the Estlink-1, had police not boarded the vessel.

"There would have been an almost immediate danger that other cables or pipes related to our critical underwater infrastructure could have been damaged," said Lohi, who is the chief of Finland's National Bureau of Investigation.

On Tuesday, Stubb said that Finland's security process for protecting the cables started with the private company overseeing them. If a cable is severed, the firm would alert the authorities, who then try to find possible ships around the location of the damage.

"Once that happens, you identify the ship and contact the ship. Number four, you stop the ship," Stubb said.

Stubb added that Finnish authorities would compel the ship to enter Finnish waters, where officers could then legally board the vessel.

That process is set to change now. European members of NATO announced at the summit that they would launch a new program, called the "Baltic Sentry," to collectively patrol near Baltic Sea infrastructure.

The surveillance program involves frigates, maritime aircraft, and "a small fleet of naval drones," said NATO's secretary-general, Mark Rutte, at the summit.

The investigation into the Eagle S is of particular significance to the European Union because it's suspected for years that Russia has been intentionally trying to covertly damage Western undersea infrastructure. Other cables, such as two fiber-optic data cables running between Finland and Germany, were cut last year.

Though the Eagle S is registered in the Cook Islands, European officials say it's tied to Russia because it was carrying 35,000 tons of unleaded gasoline loaded in Russian ports.

They have accused the ship of being part of a Russian "shadow fleet," or a network of vessels with owners registered outside Russia that are actually carrying sanctioned Russian oil.

Russia has denied being involved in any way with such sabotage. The Russian Foreign Ministry did not respond to a comment request sent outside regular business hours by Business Insider.

• Small businesses are struggling to stay afloat in the wake of the deadly Los Angeles fires.
• Many structures have been destroyed, but others left standing are damaged, with no foot traffic driving business.
• For some industries with slim margins, just days without business has forced permanent closures.

As deadly fires continue ripping through Los Angeles, leveling residential and commercial districts alike, even small business owners whose storefronts have been left standing aren't out of the woods.

Though more than 12,300 structures have been destroyed by the fires, commercial buildings that haven't been totaled are still struggling with costly damages to repair and with no foot traffic driving business.

For some industries with slim margins — like bars and restaurants — going just days without business has begun to force permanent closures.

AccuWeather estimates the damages and economic loss from the wildfires totals between $250 billion and $275 billion, making it one of the costliest wildfire disasters in modern US history.

"We have come to the heartbreaking decision that at this time, operating The Ruby Fruit is no longer possible due to financial impact from the current natural disaster," Emily Bielagus and Mara Herbkersman, owners of The Ruby Fruit, a lesbian wine bar in the Silver Lake neighborhood, posted Sunday on the bar's Instagram page.

"Sadly, along with all the feelings of grief and shock that we have experienced over the last few days, also came this undeniable reality: that running our small business is no longer sustainable. The hospitality industry functions on a day-by-day basis and right now, as they say — the math just isn't mathing," they wrote.

The announcement was met with an outcry from fans and devoted patrons of the bar — one of the city's only bars catering specifically to lesbians and "those who fall under the sapphic umbrella," according to the bar's website.

Some customers, in the comments of the bar's closure announcement, begged Bielagus and Herbkersman to create a community fundraiser to save the business. The Ruby Fruit's GoFundMe campaign, raising money to provide wages for the bar's staff — has raised about half its $15,000 goal in three days.

Bielagus and Herbkersman did not immediately respond to a request for comment from Business Insider.

Financial aid is available for small businesses trying to recover from the aftermath of the wildfires. The Small Business Administration's disaster loan program offers up to $2 million in loans with low interest rates for eligible businesses suffering economic losses and physical damage due to disaster. Interest on these loans does not begin to accrue for a year.

On Monday, California Gov. Gavin Newsom announced extended tax filing deadlines and relief from interest and penalties for businesses impacted by the fires. However, tax breaks and interest-accruing loans are nothing compared to regular business, and the costs accrued from being closed stack up quickly.

"Thankfully we are safe and, as of now, able to operate," Betsy Martinez, owner of Fan Girl Cafe in West Hollywood, told BI. "However, business has definitely been impacted by the situation and we are navigating it the best we can."

Martinez, who runs Fan Girl Cafe with her wife, said the pair lost roughly $5,000 in just two and a half days of closures, in addition to the slow business in the days since. As a new restaurant in its first year of operations, margins were already tight. They're now considering debt consolidation and taking out a new loan and have contacted their existing lenders asking for extensions on their bills.

Some business owners are turning to the local community for financial support, but such funds are inconsistent — and largely targeted toward businesses that have been destroyed. Restaurants, including Fox's Restaurant, The Little Red Hen Coffee Shop, and The Reel Inn, have all burned down and have started GoFundMe campaigns to raise money to rebuild.

Martinez said she and her wife aren't comfortable starting a GoFundMe, given how tight funds are for everyone else — and that other businesses are dealing with more severe losses.

"It's just a heavy time right now for everyone," she said. "Right now, we're just looking at who we can help, even those of us who need help."

For now, many small business owners in the Los Angeles area are white-knuckling it through another costly disaster just a few short years after the COVID-19 pandemic saw more than 7,500 small businesses shutter across the county, the California Business Journal reported.

"We closed last week and are closing this week. We hope to reopen next week," the owners of Honey's at Star Love, a queer bar in Little Armenia, told BI in an email. "We're taking it all day by day."

• Yoon Suk Yeol, South Korea's impeached president, was arrested on Wednesday.
• This was the South Korean authorities' second attempt to arrest Yoon.
• Yoon was impeached on December 14 after he attempted to impose martial law, triggering protests.

South Korean President Yoon Suk Yeol was arrested by investigators early on Wednesday morning, local time.

Yoon's arrest comes after weeks of attempts by South Korean anti-corruption investigators to bring him in for questioning. This makes him the first sitting South Korean president to be detained.

Yoon has repeatedly defied attempts to arrest him. During a particularly tense standoff on January 3, investigators had to stand down after six hours when Yoon's security team barred them from taking the president.

More than 3,000 police officers and anti-corruption investigators were involved in Yoon's arrest on Wednesday morning, per Reuters.

South Korea's Corruption Investigation Office for High-ranking Officials said they had executed an arrest warrant for Yoon at 10.33 am local time, per a statement obtained by Yonhap News.

Yoon said in a statement on Wednesday that he had chosen to comply with the warrant "to prevent unsavory bloodshed," according to a translation by Reuters.

Roughly 6,500 supporters were present outside Yoon's presidential residence when he was arrested, per Yonhap News.

Yoon was impeached and stripped of his presidential powers on December 14. South Korean lawmakers voted to remove him from duties after a stunning declaration of martial law, which triggered large-scale protests and calls for his resignation.

South Korea's nine-member Constitutional Court is set to rule on Yoon's removal from office.

The trial, which must conclude within 180 days from the date of Yoon's impeachment, could take months to resolve. If the court decides to remove Yoon from office, a presidential election must be held within 60 days.

Last month, South Korean lawmakers impeached the country's acting president, Han Duck-soo, after he had refused to fill the Constitutional Court's three vacancies.

Han, who was also South Korea's prime minister, was replaced by the country's finance minister, Choi Sang-mok. Choi said in December that he would move quickly to fill up the court's vacancies.

There are currently eight justices on the court, after two new justices started their terms this month. Choi said he would appoint a ninth candidate after both the ruling and opposition parties come to an agreement on the nomination.

At least six votes are needed to remove Yoon.

• Two future Ford-class aircraft carriers will be named for Presidents Bill Clinton and George W. Bush.
• It's the US Navy convention to name nuclear-powered flattops after presidents, with some exceptions.
• USS Doris Miller and Enterprise are the only two Ford-class vessels not named after presidents.

President Joe Biden announced Monday that two future Gerald R. Ford-class aircraft carriers will be named after former US presidents Bill Clinton and George W. Bush.

"Each knows firsthand the weight of the responsibilities that come with being Commander-in-Chief," Biden said in the White House announcement. "And both know well our duty to support the families and loved ones who wait and worry for the safe return of their servicemember."

US Navy Secretary Carlos Del Toro said the future Ford-class carriers "will serve as lasting tributes to each leader's legacy in service of the United States."

The newly named flattops follow the sea service's tradition of naming the nuclear-powered carriers after US presidents. The trend has many exceptions, including first-in-class USS Nimitz, USS Carl Vinson, USS John C. Stennis, and future Ford-class ships USS Doris Miller and USS Enterprise.

Here are the names of the first six supercarriers in the Ford class, poised to become the backbone of America's naval power for the rest of the 21st Century.

USS Gerald R. Ford

The first-in-class USS Gerald R. Ford is named after the 38th US president who office after then-President Richard Nixon resigned in the wake of the Watergate Scandal.

Ford granted Nixon a controversial pardon saying it was in the country's best interest to put an end to the "American tragedy in which we all — all have played a part," he said at the time.

The USS Gerald R. Ford, the world's largest and most advanced aircraft carrier, completed its first full deployment last January, which the Pentagon extended in response to the October 7 Hamas attacks in Israel.

The Ford and the other warships in its strike group served in part as a deterrence message for its 239-day deployment to the Mediterranean in 2023.

USS John F. Kennedy

The second-in-class USS John F. Kennedy was named after the 35th US president, sharing its namesake with the last conventional aircraft carrier built for the Navy before the introduction of the nuclear-powered Nimitz class.

The future carrier was initially set to deliver in June 2024 but was delayed a year to July 2025 so the Navy could perform more work to prepare it for deployment in the Indo-Pacific.

The Navy said the Kennedy would be equipped with "new technology and warfighting capabilities," making the future aircraft carrier the "most agile and lethal combat platform globally."

USS Enterprise

The future USS Enterprise is one of two Ford-class carriers that wasn't named after a US president. It carries on a storied name whose heritage includes the world's first nuclear-powered aircraft carrier, a decorated World War II carrier, and a brig from the Barbary War over 200 years ago.

Still under construction at Huntington Ingalls Industries' Newport News — the US's only aircraft carrier shipyard — the Enterprise was initially scheduled to deliver by March 2028, but the Navy's shipbuilding review found that it will now deliver by May 2030 at the latest.

In November, the Enterprise was moved for the first time at the shipyard to accommodate the construction of USS Doris Miller on the same dry dock.

USS Doris Miller

The other Ford-class carrier without a US president's name is the future USS Doris Miller.

The future supercarrier, named after US Navy sailor Doris "Dorie" Miller, is expected to be delivered a year and a half later than scheduled in early 2032.

Miller was a World War II hero of the surprise Japanese attack on Pearl Harbor, Hawaii. The mess attendant fired at Japanese aircraft with a .50 caliber machine gun on the battleship USS West Virginia and was the first Black person to be awarded the Navy Cross, the service's second-highest award for valor.

"Naming CVN 81 for Dorie Miller casts long overdue recognition to a true American hero and icon," then-Master Chief Petty Officer Russell Smith said during the ship's naming ceremony. "It also honors the contributions of African Americans and enlisted sailors for the first time in the history of American aircraft carriers."

One controversy has been that the Nimitz-class carrier John C. Stennis honors a key lawmaker behind the funding of nuclear-powered aircraft carriers, who was also a longtime segregationist and opponent of the US Navy's racial integration.

USS William J. Clinton

Bill Clinton served as the 42nd president of the US, becoming the second president in US history to be impeached after Andrew Johnson in 1868. He faced charges of lying under oath and obstruction of justice in the wake of his infamous affair with then-White House intern Monica Lewinsky.

In his time as commander-in-chief, Clinton ordered cruise missile strikes against Iraq in retaliation for the assassination attempt on former President George H.W. Bush. He also played a key role in promoting peace in the Middle East and Northern Ireland through the Oslo Accords and the Good Friday Agreement.

The name of the future CVN 82 was announced in a private ceremony shortly after the new year, during which former President Clinton's daughter, Chelsea Clinton, was announced as the carrier's sponsor.

"It's never far from my mind that the precious freedoms Americans enjoy are safeguarded by our armed forces, anchored by a strong, modern, and agile Navy," Clinton said in a statement. "I'm honored that future servicemembers carrying on that proud tradition will serve on a carrier bearing my name."

USS George W. Bush

The sixth Ford-class carrier will bear the name of former President George W. Bush, whose presidency was defined by the 9/11 attacks and the launching of the Afghanistan and Iraq wars.

He implemented domestic counterterrorism measures and built a worldwide coalition to dismantle terrorist groups globally.

"I am honored that my name will be associated with the United States Navy and a symbol of our Nation's might," Bush said in a statement. "I have a special admiration for the men and women of our Navy — including my dad — and ask God to watch over this ship and those who sail aboard her."

The 10th and final Nimitz-class carrier was named after Bush's father, George H.W. Bush, who served as the 41st president of the US. The elder Bush was honored for his service as one of the youngest naval aviators serving in World War II, receiving military decorations like the Distinguished Flying Cross, three Air Medals, and the Presidential Unit Citation.

CVN 82 and CVN 83 will be the fifth and sixth carriers to join the Navy's fleet in the coming decade, but they are not yet under construction, nor have contracts been issued to HII's Newport News.

In a briefing last week, Christopher Kastner, CEO and president of HII, urged the US Navy to follow its shipbuilding timeline to procure USS William J. Clinton by 2028 as planned to avoid supply chain and workforce issues.

• TechCrunch has cut staff amid "evolving needs," the company told Business Insider.
• The Washington Post, HuffPost, and Vox Media have all conducted layoffs in 2025.
• Publishers face headwinds as many advertisers favor Big Tech.

TechCrunch is the latest digital publisher to cut staff.

A spokesperson for the outlet, which focuses on tech and startup coverage, confirmed the reductions to Business Insider and said fewer than 10 employees were impacted.

"We're excited about the future of TechCrunch," the spokesperson said in a statement, adding the company was "making changes to some roles that no longer fit our evolving needs."

They said the company would continue to grow and hire.

"This adjustment reflects our commitment to aligning our team structure with our business goals and not a cost-cutting effort," they added.

No other Yahoo properties were impacted, the spokesperson said.

Many media organizations continue to face headwinds, contending with falling traffic and advertisers increasingly turning to Big Tech.

Some have cut staff already this year.

Last week, Vox Media laid off staff for the second time in roughly a month.

BuzzFeed-owned HuffPost slashed roughly 22% of its newsroom last week, or 30 jobs, The Wrap and The New York Post reported. HuffPost's editor-in-chief, Danielle Belton, resigned amid the cuts.

The Washington Post is also eliminating less than 100 employees in an effort to cut costs, Reuters reported last week. A spokesperson for the Jeff Bezos-owned paper told the outlet cuts would occur across multiple divisions, but wouldn't impact the newsroom.

• Microsoft is a software company known for products like Windows, Microsoft 365, and Xbox.
• Microsoft is one of the largest software companies in the world by market cap.
• Microsoft was co-founded by Bill Gates, and the company is now led by CEO Satya Nadella.

Microsoft is one of the world's largest software companies, with annual revenues nearing $250 billion in recent years. Among its many products and platforms are the programs Microsoft Word and Microsoft Excel, used by private citizens and corporations all over the world, and the Windows operating system, the most widely-used computer OS by a vast margin.

The company was founded in Albuquerque, New Mexico, in 1975 by Bill Gates and Paul Allen, with the latter leaving Microsoft in 1983 following a diagnosis of Hodgkin disease. Gates would stay on as CEO of the company until 2000, when he voluntarily stepped down, largely to focus on his charitable work with the Bill and Melinda Gates Foundation.

Gates was replaced by Steve Ballmer as the new Microsoft CEO, serving until he was in turn replaced by Satya Nadella in 2014. Under Nadella's guidance, the company has grown ever more profitable, though there have also been many massive layoffs across Microsoft.

Here's a look in greater detail at Microsoft's history, its many products and services, its financial successes and stumbles, and the foundation its profits helped create.

Microsoft's history

William Henry Gates III, better known as Bill Gates, had a preternatural talent with software, writing his first programs while a young teenager growing up in Seattle, Washington. By the time he graduated high school and went off to Harvard, Gates had already formed a business partnership with his friend and Microsoft co-founder Paul Allen.

This was a data analysis venture called Traf-O-Data that employed computers in parsing through information collected by roadway traffic counters. Traf-O-Data was not a business success, but it was the precursor to the Microsoft Corporation, which Allen and Gates founded in the spring of 1975.

Initially based in Albuquerque, as Gates and Allen had been working for the New Mexico-based company Micro Instrumentation and Telemetry Systems, the Microsoft headquarters moved to Bellevue, Washington, in early 1979, seeing its founders return to a location near their childhood turf.

The following year, 1980, was a pivotal one for Microsoft because the technology giant IBM awarded the company a contract that saw a Microsoft operating system used in the vaunted IBM Personal Computer, or PC. This was MS-DOS, the premier OS for several years, supplanted only by Windows, released in 1985, and one of the first graphic interface operating systems the world had ever seen.

Windows would become the dominant computer operating system over the next few decades, during which Microsoft also released software that would become wildly successful, such as the aforementioned Word and Excel, as well as PowerPoint.

Microsoft also developed its an email platform, known as Outlook, and even created a search engine named Bing, and so much more.

Microsoft's software

Microsoft released Microsoft Office — today rebranded as Microsoft 365 — in 1990, and soon the word processing and spreadsheet software therein included (namely Word and Excel) would become all but essential for office employees, students, writers, accountants, and myriad other people around the world.

But Microsoft hardly stopped with these more basic programs. The company would also develop OneDrive, a cloud data storage platform, Microsoft Azure, an advanced cloud computing service that lets you use powerful computers remotely, and Microsoft Copilot, the company's foray into the new and rapidly expanding world of artificial intelligence.

Many companies rely on Microsoft software, such as Teams, which helps people communicate, stay on schedule, and share files and documents, while many individuals rely on the advanced web browser Microsoft Edge to enhance the efficacy of their online searches.

Microsoft's software is so commonly used, and expertise in its programs have become so valuable, that the company even offers Microsoft certifications for IT specialists and developers who work with platforms like Microsoft 365 and Azure.

Beyond work and productivity software, services, and platforms, there is another arena in which Microsoft plays an outsized role: gaming.

Microsoft in the gaming world

Microsoft has been in the video game world since 1979, when "Microsoft Adventure" was released. It was a text-based problem-solving game with a feel not unlike a "Dungeons & Dragons" session.

Throughout the 1980s and into the 1990s, the company would churn out many video games, but few were mainstream successes save for the many versions of "Microsoft Flight Simulator," which was first released in 1982.

It wasn't until Microsoft got into the console gaming world that true gaming success arrived. Designed to compete with Sony's successful PlayStation video game console, the Xbox was first released in 2001 and would become one of the most popular gaming platforms on the planet.

Now in its fourth generation of console, the Xbox's most popular games include the franchises "Call of Duty," "Grand Theft Auto," and "Fortnite," to name but a few.

Microsoft has added to its success and reach in the gaming world beyond its own original creations as well; it has also acquired heavy hitters in the space. For example, in September of the year 2014, Microsoft bought Mojang, maker of the popular gaming property "Minecraft," for $2.5 billion.

And then, in October 2023, the software juggernaut bought the gaming giant Activision Blizzard for the staggering sum of $68.7 billion. These were not Microsoft's only acquisitions, of course.

Microsoft acquisitions over the years

While Microsoft had acquired many other brands, products, and companies before the year 1997, that year marked its first major and highly visible move of the kind when Microsoft bought the popular email platform Hotmail for a $500 million, which is nearly a billion dollars today.

Hotmail was eventually rolled into Microsoft Outlook, though you can still get and use a Hotmail email address today.

In 2011, Microsoft made another powerful move when it acquired the video chat platform Skype, this time in a multibillion-dollar move.

In 2016, the software company laid out a hefty $26.2 billion to buy LinkedIn, the widely used professional networking and social media platform.

And in 2018, Microsoft acquired GitHub, a code developing platform, for the tidy sum of $7.5 billion. All of these acquisitions involve huge numbers, of course, as does the wealth of Microsoft's founder and the endowment of the charitable organization he established with his then-wife, Melinda Gates.

Bill Gates and the Bill and Melinda Gates Foundation by the numbers

At last check, Bill Gates' net worth was around $106 billion, making him, the former richest person in the world, not even in the top 10 richest list. He ranked 14^th richest, per Forbes, as of late 2024.

Gates has given tens of millions of dollars away, largely to his own nonprofit organization, the Bill and Melinda Gates Foundation, which is focused on issues ranging from endemic diseases in developing nations to safe water supply issues and combatting hunger.

Married for 27 years prior to a divorce in the summer of 2021, Bill and Melinda Gates sat together on the board of their eponymous foundation for many years and even for three years following the marital split, though Melinda Gates finally departed the foundation in June 2024.

The foundation, which has offices in multiple countries across four continents, employs more than 2,000 people and has an endowment of more than $75 billion. According to data sourced from the Bill and Melinda Gates foundation itself, in recent years it has offered charitable support between $7 and $8 billion, and the foundation had issued more than $77 billion in grant payments since its inception through the year 2023.

That's all an impressive amount of money, to be sure, and given for noble causes, but it pales in comparison to the profits of the Microsoft Corporation, profits that are often maintained thanks to harsh rounds of employee layoffs.

Microsoft finances, revenues, careers, and layoffs

Microsoft went public with its IPO in 1986 at a price of $21 per share. In the decades since, Microsoft stock pricing has swelled exponentially, and the company's total market cap — which is the entire value of a company's outstanding shares — reached an astonishing $3 trillion dollars by late 2024.

For a bit of perspective, that is larger than the annual gross domestic product of almost every nation on earth — were Microsoft's market cap placed on the scale with GDP, it would rank between France and Germany.

For the 12-month period ending in June 2024, Microsoft earnings were around $245 billion — in a one-year period, to be clear, the company generated nearly a quarter of a trillion dollars. It's no wonder, then, that Microsoft careers are highly sought after.

But jobs, though often lucrative, are also often tenuous. Microsoft's layoffs are often notorious for their size. For example, in the early fall of 2024, the company cut 650 workers from its gaming division only a few months after slashing 1,900 employees from its Activision Blizzard and Xbox departments.

In 2023, the company cut a huge swath of its labor force, dropping 10,000 workers. This was not the biggest layoff, though: between 2014 and 2015, the company axed nearly 20,000 employees. This was following the problematic acquisition of the telecom company Nokia, which also saw the exit of then-CEO Steve Ballmer.

• TikTok told its US employees that they'd still have jobs if the app goes dark.
• The company reassured staffers that the leadership team is planning for various scenarios.
• The Supreme Court is currently reviewing TikTok's request for more time on its divestment deadline.

TikTok reassured its US staffers on Tuesday that they'd still have jobs even if the app goes dark in a few days, as mandated by a divest-or-ban law.

In an internal memo shared with employees, the company confirmed to its US team that their "employment, pay, and benefits are secure, and our offices will remain open, even if this situation hasn't been resolved before the January 19 deadline." The company added that TikTok is a global platform and that only the US user experience would be impacted.

The Verge's Alex Heath first reported on the memo, which Business Insider independently verified. TikTok did not respond to a request for comment.

The memo acknowledged that this moment of uncertainty has been unsettling for the company and said TikTok's leadership team is planning for various scenarios as it charts its next steps.

TikTok employees who have spoken with BI have said they've often felt kept in the dark in recent weeks as they await a decision from the Supreme Court on a law that requires owner ByteDance to divest from the US version of TikTok or see it shut down. The company lost its legal challenge in the DC Circuit, and legal analysts told BI it's unlikely the Supreme Court will reverse that decision.

If TikTok does stop operating later this month, there's still a possibility that President-elect Donald Trump may try to rescue the app once in office, as he pledged to do on the campaign trail.

• The Securities and Exchange Commission has filed suit against Elon Musk.
• The new suit alleges Musk violated securities law related to his purchase of Twitter shares.
• It's not the first time the Tesla leader has gone toe-to-toe with the SEC.

The Securities and Exchange Commission has filed suit against Elon Musk, alleging he violated securities law related to his $44 billion acquisition of Twitter, according to a federal docket.

The complaint alleges Musk "failed to timely file with the SEC a beneficial ownership report" disclosing his purchase of Twitter shares before he announced his ownership of the company.

"As a result, Musk was able to continue purchasing shares at artificially low prices, allowing him to underpay by at least $150 million for shares he purchased after his beneficial ownership report was due," the complaint reads.

Musk's attorney, Alex Spiro, told Business Insider in an email that Musk "has done nothing wrong."

"Today's action is an admission by the SEC that they cannot bring an actual case — because Mr. Musk has done nothing wrong and everyone sees this sham for what it is," Spiro said. "As the SEC retreats and leaves office — the SEC's multi-year campaign of harassment against Mr. Musk culminated in the filing of a single-count ticky tak complaint against Mr. Musk under Section 13(d) for an alleged administrative failure to file a single form — an offense that, even if proven, carries a nominal penalty."

This isn't the first time the SEC has sued Musk. A 2018 complaint from the commission stemmed from Musk's "funding secured" tweet, indicating he'd planned to take Tesla private, which eventually resulted in a settlement under which Tesla and Musk both paid fines of $20 million.

The SEC has not responded to a request for comment from BI.

Correction: January 14, 2025 — An earlier version of this story mistated the defendant in the story's URL and meta description. The SEC sued Elon Musk, not Tesla.

• Koyaana Redstar, a luxury bag authenticator, has decades of experience identifying fake Hermès Birkin bags.
• She said that the viral "Walmart Birkin," or "Wirkin," has several telltale signs of being a dupe.
• But Walmart is also not trying to convince anybody that the Wirkin is the real deal, she added.

This as-told-to essay is based on a conversation with Koyaana Redstar, the head of luxury buying at Luxe Du Jour, an online luxury boutique for vintage designer handbags. It has been edited for length and clarity.

I've worked for Rebag, The RealReal, and other vintage consignment stores and have 20 years of experience in the resale industry.

To me, the Hermès Birkin and Kelly are the most iconic bags in fashion. They are classic and retain value more than almost any other bag.

So, of course, I have thoughts on the viral $78 "Walmart Birkin" bag.

Signs that the Wirkin is an obvious dupe

First, the proportions of the Wirkin wouldn't look right to anyone who knows their stuff — and knows Birkins.

The handles are too long, and the fact that it comes with a crossbody strap is a dead giveaway — the Birkin doesn't come with one. To my knowledge, the only Birkin with a strap is the Micro Birkin if you exclude Jane Birkin's first Birkin.

The hardware is also almost too gold and has a slightly green undertone, which a real Birkin wouldn't have.

From afar, the imitation leather-like material looks almost puffy, which also throws off the shape. I can also tell the size of various components isn't of regular Birkin proportions.

As far as I'm concerned, the Wirkin's design doesn't seem to have been intentionally created to convince anyone that it's a Birkin.

It does look similar — but major changes have been made to avoid confusion, and they haven't used trademarked branding that would lead someone to believe that it's a real Hermès Birkin.

I think it's likely not the last we'll see of Birkin dupes from other brands, partly due to the demand for this particularly iconic style.

Dupes are fair game

The Birkin is the most coveted handbag in the world, so it's not surprising that there are so many dupes and replicas.

Replicas are attempted duplicates of a luxury bag, down to the types of hardware, fonts, materials, and branding.

Dupes are not branded, like the bags they are trying to imitate. They use a style or concept, alter it, and remove its branding. However, these products may use similar materials and have similar functionalities.

I don't approve of replicas, but I can get behind the idea of dupes because they aren't made to trick people into confusing them with the real deal.

I do find that consumers I've interacted with have become more conservative about spending on luxury products. Now, what I see is that there is brand loyalty — especially among consumers who enjoy buying products from specific brands.

However, an uptick in prices and the idea that dupes are readily available could drive some people to find cheaper alternatives to items that are way out of their budget.

A word of warning, though. Knowingly purchasing, distributing, or shipping inauthentic items is illegal under federal law.

It constitutes "trafficking in counterfeit goods," which can result in significant fines and potential jail time depending on the severity.

• Israel has used its Air Force to strike its enemies with impunity.
• Syria's collapse now gives it unprecedented power in the air, right up to Iran's border.
• "Israel now has open skies to Iran," a Middle East analyst told BI.

The Israeli Air Force has long been regarded as the Middle East's premier aerial fleet, supplied in large part with US-made aircraft and munitions. But in the past year it has gone further, showing its aircraft can strike any of its adversaries with impunity and establishing unprecedented air superiority across wide stretches of the region.

It gutted Russian and Iranian-made air defenses in Iran, daring Iranian leaders to strike back with fewer defenses. It destroyed stocks of Hezbollah's missile arsenal in southern Lebanon and killed its top leader with a precision airstrike on his underground headquarters.

Its power was so formidable in Syria that the Assad regime and Russia secretly asked Israel to spare Assad's military, according to allegedly classified documents found in the country after that brutal regime collapsed in December.

In the wake of that collapse, Israel seized the opportunity. The Israeli Air Force (IAF) destroyed the country's vast majority of air defenses and Syrian military stockpiles.

Across 15 months of war, instigated by the Oct. 7, 2023 terrorist massacre by Hamas into Israel, the IAF has emerged supreme and is basking in its moment.

"Fighter pilots, if they wanted, could now merrily fly in pairs, with visible operating systems, at any altitude, to any range, to any spot in Israel's first circle of defense," reported the Israeli news site Ynet in late December.

Israel has long possessed the most powerful air force in the Middle East and one of the most powerful and technologically advanced anywhere in the world. It boasts over 600 aircraft and over 30,000 active personnel, with no less than 50,000 in reserve. It operates the second-largest fleet of F-16s in the world and is the only regional country that currently flies the F-35 stealth jet. Furthermore, Israel has its own version of that fifth-generation aircraft, a privilege no other country enjoys.

The IAF overwhelmingly consists of American-made aircraft that also include Apache and Black Hawk helicopters. Israel also flies a large fleet of F-15s and recently signed a $5.2 billion deal for 25 highly advanced F-15IA variants.

The IAF plays a pivotal role in the defense of Israel. It gave the small country a critical qualitative edge over its larger Arab adversaries in historical conflicts, most notably the June 1967 Six Day War.

The IAF's newfound supremacy goes beyond previous wars. For example, it previously destroyed several Soviet-built Syrian surface-to-air missile batteries in Lebanon's Beqaa Valley in a complex operation in 1982 and shot down over 80 Syrian fighter jets without incurring any losses in return. While December's operation saw the IAF strike all across Syria, the operation wasn't nearly as sophisticated or dangerous as that historical episode; many of the air defenses in the latest operation were abandoned or in low states of readiness.

"We know one reason possibly restraining Israel was a recently exposed secret agreement with Russia and Syria in which Israel agreed to refrain from wider targeting of Syria's military," said Sebastien Roblin, a widely published military aviation journalist.

Israel launched an enormous long-range air and drone attack against Iran on the night of October 26 in retaliation for an Iranian missile barrage against it on October 1. The IAF targeted some Syrian air defenses in the lead-up to the attack.

The IAF also used Iraqi airspace that October night and reportedly targeted early warning radars and sensors in both Syria and Iraq, which were part of a network Iran established in the region to detect incoming Israeli attacks. While the IAF used standoff munitions, including air-launched ballistic missiles, some Israeli aircraft are believed to have penetrated Iranian airspace.

"From what we currently know, some Israeli aircraft did reportedly breach Iranian airspace, though not, from what I've seen, very far," Ryan Bohl, a senior Middle East and North Africa analyst at the risk intelligence company RANE, told BI.

"That was in part a demonstration of capability and in part an operational necessity to effectively hit deep targets," Bohl said.

Israel stated some aircraft entered Iranian airspace, which were likely stealthy Lockheed Martin F-35 Lightning II jets and newly revealed long-range drones. Roblin said it's unclear if these aircraft released weapons over Iran. They could have been there to help "precisely locate key targets" and guide weapons fired by other aircraft over significant distances.

"The strike certainly had the effect of dispelling deterrence benefits of Iran's more advanced air defenses (Russian S-300 systems)," Roblin said. However, as in the case with Syria before December, Iran's remaining air defenses "still have some value in compelling use of more expensive standoff munitions and perhaps absorbing a percentage of incoming weapons."

Israel's campaign against the remnants of the Syrian military has major implications for Iran. Should Syria's airspace remain permissive to Israeli aircraft, Israel can fly its tanker aircraft closer to Iranian airspace than previously possible.

"If medium/high-altitude air defenses were truly fully destroyed, then Israel's ordinarily vulnerable tanker aircraft could indeed theoretically access Syrian airspace and refuel fighters, which could enable higher volume attacks on Iran," Roblin said.

With Syrian air defenses eliminated, Bohl believes that "Israel now has open skies to Iran."

It will likely take years before Syria manages to reestablish significant air defenses.

"The one-two-punch of Assad regime's collapse followed by Israeli strikes on surviving equipment mean Syria will require a much longer time-frame to reconstitute an air- and ground-based defense capability through expensive new equipment purchases," Roblin said. "So, Israel's ability to attack targets at will has been improved, though it was already more than adequate."

Airpower, of course, has its limits. Israel's aerial bombing has damaged roughly two-thirds of all buildings in Gaza, but it was a foot patrol that found and killed Hamas' hardline leader, who orchestrated the 10/7 attacks. Similarly, waves of Israeli airstrikes have failed to stop Iran from nuclear weapons development and uranium enrichment.

With Russia's influence diminishing, Turkey appears destined to become the new Syria's main military backer. Ankara has already offered to help Damascus rebuild the Syrian military.

"For now, Israel can ignore Syria as a defensive layer for Iran; it's just geography to fly over now," RANE's Bohl said. "But that is unlikely to be a permanent condition, and eventually, Syria's air defenses will, in some capacity, return."

"And should Turkey provide them, (that) might complicate Israel's regional strategy in a new way."

Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history. His articles have appeared in a variety of publications focused on the region.