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People keep talking about 'agentic' AI — here's what that means

AI conversation bubbles
Big Tech is working on agentic AI, or AI agents capable of autonomously taking action on behalf of human users to complete multi-step tasks.

Andriy Onufriyenko/Getty

  • You've heard of generative AI, but agentic AI might sound a little less familiar.
  • Major industry players are working on AI agents for what some say marks the third wave of AI.
  • But what exactly is agentic AI? Here's a quick rundown of the tech everyone's talking about.

Generative AI has been the talk of tech for a while now, but tune into your favorite business podcast and you'll probably hear a different phrase tossed around: "agentic" AI.

So what's the difference?

The two are closely related. You couldn't have agentic AI without generative AI. Definitions vary, but in general, agentic AI refers to AI technology that's capable of performing agent-like behavior that can autonomously accomplish complex tasks on your behalf.

Companies working on AI agents say they are intended to one day be digital coworkers or assistants to human workers in fields spanning from healthcare and supply chain management to cybersecurity and customer service.

Here's how some Big Tech companies explain the concept:

  • Nvidia's definition says agentic AI "uses sophisticated reasoning and iterative planning to autonomously solve complex, multi-step problems."
  • IBM says agentic AI is a system or program with "agency" that can "make decisions, take actions, solve complex problems and interact with external environments beyond the data upon which the system's machine learning (ML) models were trained."
  • Microsoft says AI agents "range from simple chatbots, to copilots, to advanced AI assistants in the form of digital or robotic systems that can run complex workflows autonomously."

Some leaders in the field say agents are ushering in a new frontier in AI.

"In just a few years, we've already witnessed three generations of A.I.," Salesforce CEO Marc Benioff told The New York Times earlier this month. "First came predictive models that analyze data. Next came generative A.I., driven by deep-learning models like ChatGPT. Now, we are experiencing a third wave β€” one defined by intelligent agents that can autonomously handle complex tasks."

Salesforce, which launched its Agentforce suite earlier this year, has said it plans to have more than 1 billion AI agents in use for companies by the end of next year.

Google CEO Sundar Pichai recently said the company has been "investing in developing more agentic models" over the last year. (He defined agentic AI as being able to "understand more about the world around you, think multiple steps ahead, and take action on your behalf, with your supervision.") The company made agentic AI a major focus of its Gemini 2.0 launch this month.

OpenAI plans to launch an AI agent code-named "Operator" in January that would be able to use a computer on a person's behalf to do things like write code or book flights, Bloomberg reported last month, citing two people familiar with the matter.

The company previewed its latest AI model, o3, on Friday as the final announcement of its 12 days of "Shipmas" campaign.

Read the original article on Business Insider

The Walton family empire: Inside the lives of the billionaire Walmart heirs

the walton family walmart
The Walton siblings.

AP/April L. Brown

  • The Walmart heirs' combined estimated net worth is nearly $380 billion.
  • All three of Sam Walton's surviving children have now made it into the $100 billion club.
  • In public, the Waltons live relatively modest lifestyles despite their wealth.

All three of Walmart founder Sam Walton's surviving children have made it into the $100 billion club as the retail giant's share price continues to soar.

The combined wealth of the Walmart heirs β€” which include founder Sam Walton's children, Rob, Jim, and Alice, as well as his grandson Lukas β€” is nearly $380 billion, according to the Bloomberg Billionaires Index.

Together, they're significantly ahead of the top individual names on the list, such as Jeff Bezos, Bernard Arnault, or Mark Zuckerberg, though Elon Musk has recently seen his fortune outstrip their collective net worth.

While some have worked in the family business β€” whether that's serving on the company board or working to manage the family's wealth β€” others chose to pursue areas of personal passion.

Sam Walton, the original man behind the company that now encompasses both Walmart and Sam's Club, set his family up for financial success when he divided the ownership before he died.

Most recently, the Walton children have expanded voting control to their own, giving eight of Sam's grandchildren a say in the family holdings.

Sam wasn't a man of flashy luxury, but you can see how his children are living a slightly more lavish life now. Here's a look at how the Walton family empire spends its money:Β 

Sam Walton opened the first Walmart store in Rogers, Arkansas, in 1962.
sam walton
The original Wal-Mart name tag used to look like this one, worn here by Sam Walton.

Associated Press

As he grew his retail empire, Walton, an experienced pilot, would often fly in unannounced to check in on a particular store location.

He married Helen Robson on Valentine's Day in 1942.
Helen Robson
Sam and Helen had a Valentine's Day wedding.

April L. Brown/Associated Press

Together, they had four children: Rob, John, Jim, and Alice.

By the time Sam died in 1992, he had set up the company ownership in a way that minimized the estate taxes anyone on the receiving end would have to pay.
Walton family
Sam Walton died at the age of 74 of cancer.

Rick Wilking/Reuters

Source: Fortune

He set up his ownership of Walmart's stock in a family partnership β€” each of his children held 20% of Walton Enterprises, while he and Helen each held 10%. Helen inherited Sam's 10% tax-free when he died.
sam walton
The stocks were carefully divided among the family.

Courtesy of Walmart

Source: Fortune

Samuel Robson "Rob" Walton is the oldest Walton child. He is 80 years old.
Rob Walton
Rob served as chairman of Walmart for many years.

Reuters

He served as chairman of Walmart from 1992 until 2015 and remained on the board until this year.
Rob Walton Walmart
He'll retire from the board in 2024.

Rick T. Wilking / Stringer / Getty Images

He retired from Walmart's board at the end of his term in 2024.

Rob made a splash in 2022 by leading an ownership group to buy the Denver Broncos.
Denver Broncos
The group was led by Rob Walton, his daughter Carrie Walton Penner, and her partner Greg Penner.

Joe Mahoney/AP

The group purchased the NFL team for a $4.65 billion in summer 2022 in a record-breaking sale at the time.

Rob has purchased a house in Paradise Valley, Arizona, near the base of Camelback Mountain.
Paradise Valley Arizona
Walton owns a house in Paradise Valley, Arizona.

Tim Roberts Photography/Shutterstock

In the past, protesters have rallied outside of his Arizona home to advocate for better wages and benefits for Walmart workers.
Walmart protest florida
Protesters at a Walmart in Boynton Beach, Florida, called for better wages and benefits.

J Pat Carter/Associated Press

Besides real estate, Rob has a large collection of vintage cars.
vintage cars
Walton's personal vintage car collection is not pictured.

Ben Pruchnie/Getty Images

In 2013, he ran his Daytona Coupe, which was worth $15 million at the time, off the tracks and wrecked it. The car was one of only five ever made.
Daytona Coupe
Walton's Daytona Coupe was totaled in a crash.

AP Photo/Tom Mihalek

Sam Walton's second-oldest child, John Walton, died in a plane crash in 2005.
John Walton
John (right) with his mother (center) and older brother, Rob (left).

April L. Brown/Associated Press

He was 58 years old.

He was married to Christy Walton and had one son, Lukas.
Lukas Walton
Lukas Walton, pictured here, is the grandson of Walmart founder Sam Walton.

Walton Family Foundation/YouTube

John left about 17% of his wealth to his wife, and he gave the rest to charity and to his son.
Christy Walton
John Walton left half of his fortune to charitable trusts and a third to his son.

AP

John served in Vietnam as a Green Beret. When he returned from the war he held a series of jobs β€” like the Walmart company pilot, a crop duster, and the owner a few yachting companies β€” before becoming a Walmart board member.
John T Walton
John (second from left) pictured with members of his family.

AP Photo/Spencer Tirey

Source: Fortune

In 2013, Christy decided to sell their Jackson Hole mansion. She also sold the family's ranch for an undisclosed price in 2016 after listing it for $100 million in 2011.
Christy Walton Wal-Mart wyoming mansion
The family had a mansion in Jackson Hole, Wyoming.

Jackson Hole Real Estate

The 8,606-square-foot home was put on the market for $12.5 million.
Walton Jackson Hole Mansion
An aerial view of John and Christy Walton's mansion.

Google Maps

Source: Curbed

James "Jim" Walton is the youngest son of Walmart founder Sam Walton. He is 76 years old.
Jim Walton
Jim Walton is now 76.

Walmart

He is chairman of the board of the family's Arvest Bank Group. One of the state's largest banks today, Arvest Bank has assets totaling more than $26 billion.
Arvest
One of many Arvest Bank locations in Bentonville, Arkansas.

Google Maps

Source: Bloomberg

He also served on the Walmart board, starting in 2005 to fill the vacancy after his brother John died. Jim Walton's son, Steuart, took over his father's seat on the board in 2016.
Jim Walton
Jim served on the board for more than a decade.

Rick T. Wilking/Stringer/Getty Images

Now, he presides over Walton Enterprises β€” the private company that deals with the investments and finances of the Walton family only β€” from modest offices in Bentonville, Arkansas.
walton enterprises inc
Jim now manages the family's finances.

Google Maps

Source: Fortune

The youngest of founder Sam Walton's children, Alice Walton is worth $112 billion, according to Bloomberg. She has been divorced twice and has no children. She is 75 years old.
Alice Walton
Alice Walton is the youngest of Walmart founder Sam Walton's children.

AP/April L. Brown

Alice has never taken an active role in running the family business.
Alice Walton (Jim out of focus)
Alice Walton with Jim Walton in 2013.

REUTERS/Rick Wilking

Instead, she became a patron of the arts, which she fell in love with at a young age.
Alice Walton
Alice has spent millions building her art collection.

D Dipasupil/Getty Images

When she was 10, she bought her first work of art: a reproduction of Picasso's "Blue Nude" for about $2, she told The New Yorker.
Picasso Blue Room
Picasso's "The Blue Room."

Evan Vucci/Associated Press

Source:Β The New Yorker

She has an immense private art collection, with original works from Andy Warhol and Georgia O'Keeffe. Alice opened a museum in Bentonville called Crystal Bridges in 2011 to house her $500 million private art collection.
crystal bridges calder
The museum displays both paintings and sculptures, like this one by Alexander Calder (center).

Danny Johnston/Associated Press

The collection includes a Georgia O'Keeffe painting that Alice spent $44.4 million on in 2014 β€” the biggest sale for a woman's piece of art in history.
Georgia O'Keeffe
Georgia O’Keeffe, "Jimson Weed/White Flower No. 1" (1932), Sotheby's.

Courtesy of Sotheby's

Source: The Observer

Alice also breeds horses.
FILE - In this Sept. 4, 2013, file photo, mustangs recently captured on federal rangeland roam a corral at the U.S. Bureau of Land Management's holding facility north of Reno, in Palomino, Nev. Two House committee chairmen are trying to put the brakes on money for a new Trump administration proposal to accelerate the capture of 130,000 wild horses across the West over the next 10 years. (AP Photo/Scott Sonner, File)
Besides art, she loves spending time with horses.

Associated Press

Her Millsap, Texas, property, Rocking W Ranch, sold to the Three Amigos Investment Group of Kermit, Texas, in September 2017 for an undisclosed amount.
Rocking W Ranch
Alice Walton's ranch was called Rocking W Ranch.

Courtesy of WilliamsTrew

It had an initial asking price of $19.75 million, which was reduced to $16.5 million. The working ranch had over 250 acres of pasture and outbuildings for cattle and horses.
Rocking W Ranch
It was also next to a large lake.

Courtesy of WilliamsTrew

Source:Β WilliamsTrew

Her other, 4,416-acre Texas ranch was previously listed at a reduced price of $22 million.
Fortune bend ranch
A huge fire pit was built in the backyard.

Courtesy of WilliamsTrew

The modest, three-bedroom, two-bathroom home overlooks the Brazos River.

Alice also bought a two-floor condo on New York's Park Ave. for $25 million in 2014.
park avenue new york
Park Avenue pictured above at night.

Getty Images/Arata Photography

It has more than 52 large windows overlooking Central Park plus a media room, a winding staircase, and more than 6,000 total square feet of space.
shutterstock_571830520
View of Central Park from the southeast.

evenfh/Shutterstock

In January 2016, Alice donated 3.7 million of her Walmart shares β€” worth about $225 million at the time β€” to the family's nonprofit, the Walton Family Foundation.
Walton Family Foundation
The Walton Family Foundation website.

Facebook/Walton Family Foundation

Sam and Helen started the foundation as a way to teach their children how to give back and how to work together.
Sam and Helen Walton
The Walton Family Foundation was established in 1987, when Walmart celebrated its 25th anniversary.

Walton Family Foundation/YouTube

The charity awards millions of dollars in grants to causes that align with the foundation's values.
Screen Shot 2018 12 05 at 5.29.18 PM
The foundation awarded $566.5 million in grants in 2022, according to its website.

Walton Family Foundation/YouTube

The foundation has three main areas of focus:
Screen Shot 2018 12 05 at 5.30.57 PM
A project put on by the Walton Family Foundation.

Walton Family Foundation/YouTube

The foundation's focus on education was led by John. His brother Jim said John was really interested in being able to give parents choices when it came to their child's schooling.
John Walton
The foundation was dedicated to supporting children's education.

Walton Family Foundation/YouTube

Rob spearheaded the foundation's venture into environmental protection. One of the first grants they gave helped develop a sustainable fisheries label.
Walton Family Foundation
Rob launched the environmental and sustainability branch of the foundation.

Walton Family Foundation/YouTube

A commitment to the family's home of Arkansas is another large part of the foundation. The website says this area of focus is about "advancing our home region of Northwest Arkansas and the Arkansas-Mississippi Delta."
Home Range arkansas
The Bentonville town square.

Walton Family Foundation/YouTube

Walmart Inc., which owns Walmart and Sam's Club, is the largest retailer in the US in terms of revenue.
walmart 1
In fiscal year 2023, Walmart reported $648.1 billion in revenue.

Business Insider/Jessica Tyler

Even though the Walton family is raking in billions as a result of the company's success, they remain relatively under-the-radar in terms of flashing their wealth β€” much like their patriarch, Sam, did in the early years.
the walton family walmart
The Walton siblings.

AP/April L. Brown

In December, Walmart disclosed that Sam's children had granted voting rights to eight of their own children, bringing the total number of voices in the family fortune from three to eight, and keeping with Sam's vision for his legacy.
Sam Walton flying in the late 1980s or early 1990s.

Walmart Museum

Source: SEC filings

Read the original article on Business Insider

Apple faces calls to remove new AI notification feature on iPhones after it generated inaccurate news summaries

Apple WWDC 2024
A new generative AI feature in iOS 18.2 has drawn backlash for inaccurately summarizing some news alerts.

Apple

  • Apple is facing backlash over one of its new Apple Intelligence features in iOS 18.2.
  • The feature meant to summarize iPhone notifications inaccurately summarized some news alerts.
  • Nonprofit Reporters Without Borders has called for Apple to remove the generative AI feature.

Apple is facing backlash over one of its newest generative AI features.

The feature, available in the latest iOS 18.2 update, summarizes groups of notifications from an app on a user's iPhone to give them a quick rundown of what they missed at a glance.

Users, however, have pointed out at least two instances of it providing inaccurate information when attempting to summarize notifications from news organizations.

In one case, the summary falsely claimed the BBC reported that Luigi Mangione, the suspect in the killing of UnitedHealthcare CEO Brian Thompson, had killed himself. Mangione is alive and was extradited to New York on Thursday.

In another instance, the feature wrongly summarized a New York Times article to say that Israeli Prime Minister Benjamin Netanyahu had been arrested. The NYT article actually reported that the International Criminal Court had issued a warrant for Netanyahu's arrest, not that he had been arrested.

The nonprofit Reporters Without Borders has called on Apple to remove the feature.

"AIs are probability machines, and facts can't be decided by a roll of the dice," said Vincent Berthier, the head of the group's technology and journalism desk, in a public statement this week. "The automated production of false information attributed to a media outlet is a blow to the outlet's credibility and a danger to the public's right to reliable information on current affairs."

Apple, the BBC, the NYT, and Reporters Without Borders did not immediately respond to requests for comment from Business Insider.

A spokesperson from the BBC previously said the organization has filed a complaint with Apple "to raise this concern and fix the problem."

"It is essential to us that our audiences can trust any information or journalism published in our name and that includes notifications," the spokesperson previously said.

Read the original article on Business Insider

The word business leaders use to hedge when staff ask if they're planning a return to 5 days in the office

walking to work
Executives at some major companies say they're sticking to hybrid work as long as workers stay productive.

Ezra Bailey

  • Staff at major companies have asked their leaders if there are plans to follow Amazon's full return to office.
  • Firms like Meta, Google, and Microsoft have a hybrid setup β€” however, execs say they're eyeing productivity.
  • Research findings on the subject are varied, and the debate will likely continue in 2025.

Executives at major companies are referencing a specific term to hedge when asked by employees if they plan to follow in Amazon's footsteps and implement a return to 5 days a week in the office.

That word? Productivity.

While Amazon has been the most high-profile example this year of a full return to office policy, set to go into effect in January, telecom giant AT&T has also elected to double down on in-person work with a similar 5-day policy, Business Insider first reported.

In the wake of Amazon's announcement, executives at both Google and Microsoft, which require employees to be in the office at least 3 days a week, have fielded questions from staff wondering if the days of hybrid work are numbered.

Microsoft's executive vice president of cloud and AI, Scott Guthrie, said the company wouldn't change the hybrid work policy unless it noticed a drop in productivity, BI reported in September.

In October, Google CEO Sundar Pichai said the company had no plans to order employees back to the office, so long as employees remain productive during their at-home work days, BI previously reported.

Over at Meta, Mark Zuckerberg said last year that "early analysis of performance data," indicated productivity increases for early-career engineers in the office at least 3 days a week. A few months later, the company announced it was requiring employees to return to the office 3 days a week.

Executives at Dell called the company's sales team back to the office 5 days a week starting at the end of September, writing in a memo, "Our data shows that sales teams are more productive when onsite."

Though Amazon did not explicitly name productivity as a reason for its full return to the office, CEO Andy Jassy emphasized a similar term: effectiveness.

Being back in person 5 days a week makes it "easier for our teammates to learn, model, practice, and strengthen our culture; collaborating, brainstorming, and inventing are simpler and more effective; teaching and learning from one another are more seamless; and, teams tend to be better connected to one another," he wrote at the time.

For those committing to a full return to office, preparing campuses for the influx of employees in the new year is its own challenge. Amazon has since delayed the announced January 2 effective date of the new mandate for some employees because it doesn't have enough office space in some locations, BI reported earlier this month.

As CEOs and company leaders keep an eye on how employees in remote or hybrid setups perform, various studies since the onset of the pandemic have attempted to measure and compare the productivity of employees who work at home and in-office. Research studies have produced conflicting results, further complicated by the matter of how best to define or measure productivity.

Goldman Sachs, which has a 5-day-in-office policy, reviewed several analyses that used different ways of evaluating changes in work-from-home productivity, from call-center workers who were randomly chosen to work from home to comparing the productivity of randomly assigned remote workers with their in-office peers.

In short, it's hard to say for sure, and executives are deciding what their long-term setup will be after a year in which some of the world's biggest companies put a renewed focus on being "lean" and "efficient."

Meanwhile, some employees have returned to commuting in (sometimes "coffee-badging" in and returning home), others have relocated to comply with a policy change, and some have resigned to pursue a hybrid or fully remote opportunity. As companies tighten their belts and conduct layoffs, other workers have taken to workplace forums to wonder if some of the RTO mandates have been a possible "quiet layoffs" tactic.

As more major global companies revisit their policies and make changes, CEOs are likely to face more questions on the topic going into the new year.

For some, the answer is simple: Stay productive and we'll stay flexible.

Read the original article on Business Insider

Recruiters share their favorite questions to ask in job interviews — and how candidates should answer them

An illustration of a woman answering interview questions for a job.
Recruiters told BI what their go-to interview questions can reveal about a job candidate.

SB/Getty Images

  • One of the biggest parts of preparing for a job interview is running through practice questions.
  • We asked recruiting pros for their top interview questions and how a candidate should answer them.
  • Here's what they told us.

When you're preparing for a job interview, one of the first things you can do is research what previous candidates have shared about their own interviews with that employer. Some of the most helpful information to glean, if you can find it, is what interview questions you might expect to be asked.

To help job seekers who might not be able to find common questions asked by a specific company, we asked five recruiting professionals for their favorite questions to ask in job interviews.

They also broke down how candidates should answer and what the answers can reveal about them. Of course, the slate of questions asked in an interview can vary based on the recruiter's personal preferences, the role, and other factors β€” but these go-to questions from recruiters are a good place to start.

Here's a look at questions recruiters love to ask that they say can be particularly telling about a candidate.

'Tell me a time when you found a way to improve a process, made something more efficient, or otherwise introduced an improvement when you weren't asked to do so.'

Kyle Samuels, who spent 20 years in senior-level executive recruiting and is now CEO of executive search agency Creative Talent Endeavors, said he likes this question because it helps identify "proactive leaders who are willing to answer difficult questions and drive business results."

He recommends candidates use the STAR method β€” focusing on the situation, task, action, and result β€” to answer this question and really highlight their "initiative and drive."

"I'm also looking for candidates who can stand up to additional questioning well and describe specifics within each example or story they share when responding," he said.

He shared with us one example of how a STAR-formatted answer to this question might look:

  • Situation: "Our SaaS solution isn't cutting it."
  • Task: "I was assigned to fix the problem."
  • Action: "I spoke to other CTOs to get recommendations, found a final list of five, and then evaluated them against the incumbent so we could make the right hiring decision."
  • Result: Explain the end result and what happened after taking the actions described.

'Tell me about a time when something went terribly wrong with a project.'

This question shows a candidate's "ability to take responsibility for mistakes, solve problems, communicate effectively, and collaborate with others," said Lauren Monroe, who leads the creative practice group at Aquent, a staffing agency for creative, marketing, and design roles.

An ideal answer would "name the specific challenge faced, acknowledge the mistakes made, and identify the actions taken, lessons learned, and solutions implemented to solve the problem," she added.

'What key elements need to be in your next role, and what would be a dealbreaker for you?'

Amri Celeste, a recruitment manager and interview coach, likes this question because it gets at "what a candidate is really looking for in a role and whether the role we're discussing matches what they expect in their next role."

"It's also an opportunity to open up a more honest dialogue about their values, work style, and career goals, which helps me learn about not only how well they suit the role, but also how well they might suit the team and management style of the manager," she said.

'Tell me about yourself.'

It's a tried-and-true interview question, and Andrew Fennell, a former corporate recruiter and the founder of the rΓ©sumΓ©-builder website StandOut CV, leans on it to set the tone in interviews.

"After introducing myself and explaining how I've arrived to the point of this interview, I ask the candidate to do the same," he said.

"It relaxes the atmosphere a bit, makes it a bit more conversational, and allows the candidate to give a well-rounded summary of their experience and skills," he added.

'Tell me about the greatest impact you made at a company and what helped you achieve that impact.'

Tessa White, a former head of HR, is the CEO of The Job Doctor and the author of "The Unspoken Truths for Career Success."

Besides asking about a candidate's achievements, White also tries to gauge their ability to problem-solve by asking questions about challenges they've encountered in the past.

She'll ask, for example, "Tell me about a time you were at odds with someone or a department and you were able to successfully move through it."

Other times, she might say, "Tell me about a time when an initiative or project you were leading wasn't going the way you hoped. How did you handle it and what is your philosophy for addressing obstacles?"

For all of these questions, she said the ideal answer should be "authentic and real." If it's not, a recruiter can "sniff it a mile away," she said.

"I'm not looking for the answer you think I want to hear," she said. "I'm looking to see an imperfect person that has insight into their strengths as well as someone who understands how to learn from previous mistakes."

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Meet Shou Zi Chew, the 41-year-old CEO leading TikTok as it fights a potential US ban

shou zi chew tiktok ceo
Shou Zi Chew is the face of TikTok's effort to stay up and running in the US.

Kin Cheung/AP

  • TikTok CEO Shou Zi Chew is the public face of the company, rallying its fans and testifying before Congress.
  • He's 41 years old, went to Harvard Business School, and interned at Facebook when it was a startup.
  • He met with president-elect Donald Trump recently as he continues his fight to avoid a TikTok ban in the US.

TikTok is under a lot of pressure right now.

As US lawmakers worry the video-sharing platform, which is owned by Chinese company ByteDance, poses a danger to national security, TikTok is scrambling to fight a law requiring it be sold to a US owner by January 19 or else risk being banned in the country.

So who's leading the company through this turbulent period?

That would be Shou Zi Chew, TikTok's 41-year-old CEO from Singapore, who got his start as an intern at Facebook.

Here's a rundown on TikTok's head honcho:

Chew worked for Facebook when it was still a startup.
facebook mark zuckerberg
Facebook's Mark Zuckerberg in 2010, before he took his company public.

Marcio Jose Sanchez/AP

He earned his bachelor's degree in economics at the University College London before heading to Harvard Business School for his MBA in 2010.Β 

While a student there, Chew worked for a startup that "was called Facebook," he said in a post on Harvard's Alumni website. Facebook went public in mid-2012.

Β 

Chew met his now-wife, Vivian Kao, via email when they were both students at Harvard.
Shou Zi Chew and Vivian Kao attend The 2022 Met Gala
Shou Zi Chew and Vivian Kao attend The 2022 Met Gala.

Theo Wargo/WireImage

They are "a couple who often finish each other's sentences," according to the school's alumni page, and have three kids.

Chew was CFO of Xiaomi before joining Bytedance.
Shou Zi Chew and Xiaomi CEO give thumbs up at the listing of Xiaomi at the Hong Kong Exchanges on July 9, 2018
Shou Zi Chew and Xiaomi's CEO give thumbs up at the listing of Xiaomi at the Hong Kong Exchanges on July 9, 2018

REUTERS/Bobby Yip

He became chief financial officer of the Chinese smartphone giant, which competes with Apple, in 2015. Chew helped secure crucial financing and led the company through its 2018 public listing, which would become one of the nation's largest tech IPOs in history.Β 

He became Xiaomi's international business president in 2019, too.
TikTok CEO Shou Zi Chew in Washington, DC on Tuesday February 14, 2023.
TikTok CEO Shou Zi Chew in Washington, DC on Tuesday, February 14, 2023.

Matt McClain/The Washington Post/Getty Images.

Before joining Xiaomi, Chew also worked as an investment banker at Goldman Sachs for two years, according to his LinkedIn profile.

He also worked at investment firm DST, founded by billionaire tech investor Yuri Milner, for five years. It was during his time there in 2013 that he led a team that became early investors in ByteDance, as the Business Chief and The Independent reported.

For a while, Chew was both the CEO of TikTok and the CFO of its parent company, ByteDance.
zhang yiming bytedance
ByteDance founder Zhang Yiming

Zheng Shuai/VCG via Getty Images

Chew joined ByteDance's C-suite in March 2021, the first person to fill the role of chief financial officer at the media giant.

He was named CEO of TikTok that May at the same time as Vanessa Pappas was named COO. Bytedance founder and former CEO Zhang Yiming said at the time that Chew "brings deep knowledge of the company and industry, having led a team that was among our earliest investors, and having worked in the technology sector for a decade."

That November, it was announced that Chew would leave his role as ByteDance's CFO to focus on running TikTok.

TikTok's former CEO, Kevin Mayer, had left Walt Disney for the position in May 2020 and quit after three months as the company faced pressure from lawmakers over security concerns.

Some government officials in the US and other countries remain concerned that TikTok's user data could be shared with the Chinese government.
Biden
The Biden administration has demanded that TikTok divest its American business from ByteDance or risk being banned.

Jacquelyn Martin, Pool

Donald Trump's administration issued executive orders designed to force ByteDance into divesting its TikTok US operations, though nothing ever happened.

President Biden signed an executive order in June 2021 that threw out Trump's proposed bans on the app.

Last year, the Biden administration demandedΒ that TikTok divestΒ its American business from its Chinese parent company or risk being banned in the US. In response, Chew said such a divestmentΒ wouldn't solve officials' security concerns aboutΒ TikTok.

In a TikTok last March, Chew announced the company has amassed 150 million monthly active users in the US and broached the subject of the ban threats.
Shou Zi Chew, TikTok's CEO
Chew took to TikTok to discuss the ban threats.

TikTok

"Some politicians have started talking about banning TikTok," he said. "Now this could take TikTok away from all 150 million of you."

Chew testified before Congress that month about the company's privacy and data security practices.

Wall Street said his testimony didn't do much to help his case to keep TikTok alive in the US, though Chew seemed to win over many TikTok users, with some applauding his efforts and even making flattering fancam edits of him.

Now, Chew and TikTok are in the spotlight again as the company tries to stave off a looming potential ban.
TikTok CEO Shou Zi Chew testifies during a House Energy and Commerce Committee hearing on Thursday, March 23, 2023.
TikTok CEO Shou Zi Chew testifies during a House Energy and Commerce Committee hearing on Thursday, March 23, 2023.

Kent Nishimura / Los Angeles Times via Getty Images

The House of Representatives passed a bill on March 13 that would require any company owned by a "foreign adversary" to divest or sell to a US-based company within 180 days to avoid being banned in the US.

Chew put out a video response shortly after, asking users to "make your voices heard" and "protect your constitutional rights" by voicing opposition to lawmakers.

He called the vote "disappointing" and said the company has invested in improving data security and keeping the platform "free from outside manipulation."

"This bill gives more power to a handful of other social media companies," he added. "It will also take billions of dollars out of the pockets of creators and small businesses. It will put more than 300,000 American jobs at risk."

The Senate also passed the bill, and President Biden signed it into law in April.

In September, a hearing on the potential TikTok ban began in federal appeals court and in December, a three-judge panel from the US Court of Appeals for the District of Columbia Circuit ruled that the law is constitutional.

On the heels of the bad news, Chew met with the president-elect at Mar-a-Lago several days later.
Donald Trump
Chew and Trump recently met.

Jeff Bottari/Zuffa LLC via Getty Images

Trump said in a press conference on the day they met that he has a "warm spot" for TikTok, which he has criticized in the past, because he says it helped him win over young voters in the 2024 election.

Also on the day of their meeting, TikTok asked the Supreme Court to block the law that requires it be sold to avoid a shutdown, arguing that it violates Americans' First Amendment rights.

When he's not fighting efforts to ban TikTok, Chew makes appearances at some pretty high-profile events.
TikTok CEO Shou Zi Chew departs after Congress Testimony
Shou Zi Chew leaves Congress on March 23.

Kent Nishimura / Los Angeles Times via Getty Images

He's been seen at the Met Gala, and also posted about attending the 2023 Super Bowl and even Taylor Swift's Eras Tour.

His hobbies include playing video games like Clash of Clans and Diablo IV, golfing, and reading about theoretical physics.

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The career rise of billionaire Alex Karp, Palantir's outspoken CEO

Alex Karp in a purple sweather talking at a conference
Palantir CEO Alex Karp took the company public in 2020 after launching the data firm in 2003.

Fabrice Coffrini/AFP

  • Alex Karp pursued a Ph.D. and invested on behalf of wealthy European clients before founding Palantir.
  • The secretive and controversial big-data company went public in 2020 and recently posted strong quarterly earnings.
  • Karp is an outspoken CEO who hasn't held back in defending the company against critics.

Alex Karp, longtime CEO of data mining company Palantir, has been taking a victory lap on the heels of the company's latest blowout earnings and rising stock price.

Palantir, which creates software to manage, analyze, and secure data, saw its stock hit an all-time high earlier this month.

Karp, who has been CEO since 2004, is known as an unusual leader, even by Silicon Valley standards. He pursued a Ph.D. in philosophy before joining the startup and sometimes works from a barn.

He and the company have courted controversy over the years, and he's known to be outspoken in defending the company's work with government agencies and the military, saying at a recent talk that he's proud "the death and pain that is brought to our enemies is mostly, not exclusively, brought by Palantir."

Here's how the 57-year-old Karp got his start, took the helm of the secretive startup, and built it into a multi-billion-dollar company.

Alex Karp grew up in Philadelphia.
Alex Karp
Karp has described his parents as hippies.

Mustafa Yalcin/Anadolu Agency/Getty Images

His parents were a pediatrician and an artist who Karp has described as hippies, saying they often took him to labor rights demonstrations and anti-Reagan protests when he was young. A 2018 Wall Street Journal profile called Karp a "self-described socialist."

Karp got his bachelor's degree at Haverford College in Pennsylvania before attending law school at Stanford University.
Stanford
Karp met Peter Thiel, one of several people with whom he'd later co-found Palantir, at Stanford University, pictured here.

Getty

At Stanford, he was classmates with PayPal cofounder and venture capitalist Peter Thiel.

After law school, Karp began working on a Ph.D. in philosophy at Goethe University in Frankfurt, Germany, studying under famed philosopher Jurgen Habermas.
Frankfurt, Germany
Karp also pursued a Ph.D. in philosophy in Frankfurt, Germany, pictured here.

Pigprox/Shutterstock

Karp is fluent in German and speaks French as well.

Around the same time, an inheritance from his grandfather sparked an interest in investing.
Alex Karp, the cofounder and CEO of Palantir, looks ahead
Before heading up Palantir, he got into investing on behalf of wealthy clients.

Stefani Reynolds for AFP via Getty Images

According to Forbes, he quickly became successful at it and created a London-based firm called Caedmon Group, named after his middle name, investing on behalf of high-net-worth clients.

By 2003, Thiel, Karp's law school classmate, had already founded and sold PayPal to eBay for $1.5 billion.
: Entrepreneur and venture capitalist Peter Thiel visits "FOX & Friends" at Fox News Channel Studios on August 09, 2019 in New York City.
Palantir was founded by several Stanford and PayPal alums.

John Lamparski/Getty Images

He decided to launch Palantir, along with Stanford computer science graduates Joe Lonsdale and Stephen Cohen, plus Nathan Gettings, a PayPal engineer. By 2004, Karp joined as CEO.

Karp is known for being an eccentric leader.
Alex Karp in a white jersey walking out of an SUV
Karp is known for some eccentric behavior.

Brendan McDermid/Reuters

He often wears brightly colored athletic wear, keeps Tai Chi swords in his offices, and was known to practice martial arts on his Palantir cofounders in the office hallways.

Karp is a fan of fitness and wellness who practices Qigong meditation and keeps vitamins and extra swim goggles stocked in his office.
Person in nature practicing qigong
He's a fan of Qigong meditation.

Yasuyoshi Chiba/Getty Images

He told Forbes that the only time he isn't thinking about Palantir is "when I'm swimming, practicing Qigong or during sexual activity."

Despite a net worth of around $7.1 billion by Forbes' estimates, Karp doesn't appear to spend lavishly.
Palantir palo alto
Palantir was previously based in Palo Alto, California, but since moved its headquarters to Denver.

Palantir

Karp has been known to sometimes work out of a barn in New Hampshire. He has never been married and told Forbes that the idea of starting a family gives him "hives."

Palantir is also pretty secretive. Because of the company's contracts, many employees have government security clearances and receive five-figure bonuses for choosing to live close to the office, according to the Journal.

Palantir has courted numerous controversies over the years.
Alex Karp Palantir
Palantir has drawn ire for licensing its tech to law enforcement.

Drew Angerer/Getty Images

The company has been criticized for licensing its technology to law enforcement, which has used it for practices like predictive policing and tracking cars' routes using just their license plates.

Palantir has also come under fire for its contracts with US Immigration and Customs Enforcement.
palantir protests
Palantir has also faced controversy for its ICE contracts.

Reuters/Shannon Stapleton

The company provides software that helps the agency gather, store, and search through data on undocumented immigrants. After employees pressed Karp on ending the company's contracts with ICE, he denied that its technology was being used to separate migrant families.

Karp has responded boastfully to criticism of the company's contracts with the military.
Alex Karp
Karp has defended Palantir's use by military and intelligence agencies.

Kevork Djansezian/Getty Images

"The death and pain that is brought to our enemies is mostly, not exclusively, brought by Palantir," he said at a talk in December 2024.

"You may not agree with that and, bless you, don't work here," Karp said in 2023 of tech workers who have qualms about the company's data mining.

The company went public in 2020.
Palantir
Palantir began trading on the New York Stock Exchange in September 2020.

Noam Galai/Getty Images

It went public via a direct listing on the New York Stock Exchange in September 2020 at an estimated $20 billion valuation.

Following Palantir's Q3 2024 earnings report, Karp boasted about the company's performance and defended himself from critics.
Palantir CEO Alex Karp
Palantir's US revenue increased 44% year-over-year, it said in Q3 2024 earnings.

Bertrand Guay/Getty Images

"This is a US-driven AI revolution that has taken full hold," he said in an earnings release. "The world will be divided between AI haves and have-nots. At Palantir, we plan to power the winners."

During the subsequent earnings call, he said, "Given how strong our results are, I almost feel like we should just go home."

Responding to criticisms of his leadership, he said, "Instead of going into every meeting saying, 'Oh, yes, Palantir is great, but their fearless leader is batshit crazy, and he might go off to his commune in New Hampshire,' whatever thing we're saying, it's now like, yes, the products are best, and we have great products."

Palantir's stock has since hit an all-time high in December.

Now, Karp has a forthcoming book.
Alex Karp
Karp's book comes out in February.

BRYAN R. SMITH/AFP via Getty Images

Slated for release on February 18, 2025, his book "The Technological Republic" argues that Silicon Valley has become complacent and lost its ambition.

He cowrote the book with Nicholas Zamiska, Palantir's head of corporate affairs and legal counsel to the office of the CEO.

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The latest change for Starbucks under its new CEO? Baristas can get triple the amount of paid parental leave

Starbucks barista taking order
Starbucks will offer baristas up to 18 weeks of paid parental leave starting in March as it begins a turnaround effort under new CEO Brian Niccol.

Ted S. Warren / AP

  • Starbucks is expanding its paid parental leave policy for baristas, the latest change under its new CEO.
  • It'll offer up to 18 weeks of paid parental leave for birth parents and 12 weeks for nonbirth parents.
  • However, baristas will reportedly get smaller raises this year due to the company's performance.

Starbucks is giving baristas up to three times the paid parental leave they previously had access to.

Starting in March, the coffeehouse giant said it will offer up to 18 weeks of paid leave for birth parents and up to 12 weeks for nonbirth parents.

The expanded benefit applies to US store employees averaging at least 20 hours of work a week. In general, Starbucks' parental leave policy applies to parents welcoming children by birth, foster placement, or adoption.

The company currently offers US store employees 6 weeks of paid parental leave and up to 12 weeks unpaid.

"Our benefit was already the best in retail, but after hearing from some partners who shared the leave as new parents wasn't adequate, we reviewed the program and have decided we're making a change," the chain's new CEO, Brian Niccol, wrote in his announcement Monday.

The expansion is the latest change amid Starbucks' turnaround effort under Niccol, who took over in September after leading Chipotle, which offers its workers up to 12 weeks of paid parental leave. Starbucks retail employees trying to unionize at various stores across the country have named increased parental leave as one of their requests.

Starbucks Workers United said its union partners had put forth a bargaining proposal seeking to double parental leave. "We are proud of this victory for all baristas," Starbucks Workers United partner Michelle Eisen said in a statement.

It's been a tough year for the chain, which saw sales decline in multiple quarters. In its fiscal fourth quarter, the company reported its steepest quarterly sales drop in four years.

On the heels of the company's disappointing quarterly reports, baristas will reportedly get smaller raises this year compared to last and many corporate employees will only get 60% of their bonuses, Bloomberg recently reported. Starbucks did not immediately respond to a request for comment.

Shortly after becoming CEO, Niccol, whose pay package includes up to $113 million in total compensation, wrote an open letter about his plan to improve the business.

"A visit to Starbucks is about connection and joy, and of course great coffee. Many of our customers still experience this magic every day, but in some places β€” especially in the U.S. β€” we aren't always delivering," he wrote. "It can feel transactional, menus can feel overwhelming, product is inconsistent, the wait too long or the handoff too hectic. These moments are opportunities for us to do better."

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5 new AI products worth trying from the avalanche of announcements this week

A smartphone displays icons for AI apps including Gemini, ChatGPT, and Copilot.
This week brought lots of AI news, including the launch of OpenAI's video generator Sora for paid users.

Jaque Silva/NurPhoto

  • It was an overwhelming week in AI product launches.
  • OpenAI's 12 Days of "Shipmas" continued, Google launched a host of AI products, and new Apple Intelligence features arrived.
  • Here are 5 of the most helpful AI tools announced this week to consider giving a try.

There was a deluge of AI announcements this week as Big Tech pushed out releases and announcements ahead of the holidays.

It was a lot to keep up with β€” even for us β€” so we rounded up some of the most useful tools and features you can try out today.

Here are 5 of our recommendations from the last week that you might find helpful in your day-to-day life.

Genmoji in iOS 18.2 will up your texting game
Apple's Genmoji feature
Genmoji is a new Apple Intelligence feature available in iOS 18.2.

Apple

Apple's iOS 18.2 software update came out Wednesday and introduced us to Genmoji, custom AI-generated emoji made possible with Apple Intelligence.

You can make a Genmoji inspired by someone you've identified in your photo library or start fresh with instructions describing what you'd like your emoji to look like. If you don't like the initial result, you can keep refining it by tweaking the description. If you're happy with it, you can send it in a text or use it as a sticker or Tapback reaction.

Genmoji is available in iOS 18.2 on all iPhone 16 models, iPhone 15 Pro, and iPhone 15 Pro Max.

ChatGPT's integration in your iPhone
Apple's iOS 18 introduces ChatGPT integration.
Apple's iOS 18.2 introduces ChatGPT integration.

Apple

Apple's iOS 18.2 software update launched the ChatGPT integration shown off earlier this spring.

Those with an iPhone 15 Pro, 15 Pro Max, or iPhone 16 can now access ChatGPT through Siri and Writing Tools by saying or typing their inquiries, without having to go back and forth between apps. Users can tell ChatGPT to generate written content in Writing Tools or generate images to go alongside their written content.

OpenAI's Sora AI video generator launches
Sora screenshot explore page
OpenAI's video generator, Sora, is now available to ChatGPT Plus and Pro users.

screenshot/OpenAI

OpenAI's AI video generator, Sora, launched to public users this week as part of the company's "12 Days of Shipmas" slate of daily AI announcements.

It can create videos up to 1080p resolution lasting up to 20 seconds from your written prompts or make up for missing frames by completing a scene or extending the length of an existing video.

OpenAI initially made a Sora preview available to some creators, designers, and filmmakers in February, but it's now available to ChatGPT Plus ($20 a month) and Pro users ($200 a month).

OpenAI's Advanced Voice Mode with vision
ChatGPT Advanced Voice Mode Demo
ChatGPT's Advanced Voice Mode can see what you show it through your phone camera or share with it on your screen.

screenshot/OpenAI

ChatGPT's Advanced Voice Mode can now "see."

First demoed in the spring, ChatGPT can now see through your phone's camera or examine what's on your screen if you need to give the assistant visual context to help answer your questions.

The new video feature is rolling out this week in the latest version of the mobile app to ChatGPT Team and most ChatGPT Plus and Pro users.

Google Deep Research
Google Gemini Advanced 1.5 Pro with Deep Research: Get in-depth answers
Deep Research is available to Gemini Advanced users.

Google

Announced on Wednesday, Google Deep Research is Gemini Advanced's new agentic feature that can do deep dives on complex subjects for you.

Ask it a question, and it can browse the web "the way you do," Google said in a blog post. It'll ultimately generate a report you can export to Google Docs that contains key points and links to sources if you want to dig deeper.

Google Deep Research started rolling out this week in English on desktop and mobile web and will be available in the mobile app early next year.

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CEOs and companies are breaking out their wallets for Trump, from Sam Altman to Jeff Bezos and Mark Zuckerberg

Donald Trump
Donald Trump is raking in millions in donations to his inaugural fund from many notable business leaders.

Anna Moneymaker/Getty Images

  • Donald Trump is getting donations left and right from the biggest names in business.
  • OpenAI CEO Sam Altman was the latest to give $1 million to Trump's inaugural fund.
  • Tech leaders are angling to get or stay in his good graces and help shape his tech policy.

The latest business trend? Donating $1 million to Donald Trump's inauguration.

Business leaders across industries are trying to get on the president-elect's good side ahead of his return to the Oval Office, and some are breaking out their wallets β€” or their company's β€” to do so.

The president-elect is receiving donations to his inaugural fund from Mark Zuckerberg through Meta, Jeff Bezos through Amazon, and OpenAI CEO Sam Altman.

Meta confirmed to BI earlier this week that it's donating $1 million to Trump's inaugural fund. Amazon told the Financial Times it's giving $1 million to the fund and will also air the inauguration on Prime Video.

OpenAI's Altman plans to kick in $1 million of his personal money to the inauguration fund, Fox News reported Friday, citing a source who works with Altman. Amazon and OpenAI did not immediately respond to requests for comment from BI.

Some of the tech leaders are trying to make peace with Trump after he repeatedly criticized them in his first four years at the White House and subsequently sued some of them. Trump has been vocal about wanting to go after Big Tech in his second term as well.

Trump's victory in November set off a chorus of CEOs publicly congratulating him β€” as well as taking phone calls with the president-elect and trips to Mar-a-Lago.

Trump told CNBC on Thursday that Bezos would visit him "next week" for a dinner, and The Information reported that Google CEO Sundar Pichai would also travel to meet with Trump. In its landmark antitrust case against Google, the Justice Department asked a judge to force Google to sell off Chrome, its web browser.

President-elect Donald Trump at the New York Stock Exchange.
President-elect Donald Trump at the New York Stock Exchange.

Spencer Platt/Getty Images

Zuckerberg and Trump shared dinner at Mar-a-Lago last month months after Trump had threatened to imprison Zuckerberg if reelected. Meta's president of global affairs, Nick Clegg, told reporters earlier this month that Zuckerberg "is very keen to play an active role" in Trump's tech policymaking.

Other big names in business watched Trump ring the opening bell at the New York Stock Exchange on Thursday, the same day he was named Time's Person of the Year.

Onlookers reportedly included Pershing Square CEO Bill Ackman, Citigroup CEO Jane Fraser, Target CEO Brian Cornell, Mastercard CEO Michael Miebach, Goldman Sachs CEO David Solomon, and Verizon CEO Hans Vestberg.

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All the ways Netflix is paring costs and perks, from parental leave to corporate merch

Netflix on a phone
Non-English shows on Netflix accounted for a third of its views in the year's first half.

CFOTO/CFOTO/Future Publishing via Getty Images

  • Netflix is reportedly reining in some of the generous employee perks it's known for.
  • This includes its parental leave policy, salaries, and even merch, the Wall Street Journal reports.
  • The changes signal a culture shift at a firm that's grown considerably and faces investor pressure.

The tech industry's war on perks seems to have switched to its newest channel: Netflix.

The media and entertainment giant is reportedly trying to rein in some of its employee perks, including its parental leave policy, The Wall Street Journal reported Wednesday.

The company is trying to discourage employees from using the unlimited time off it gave parents for a year following the birth or adoption of a child, the Journal reported, citing internal communications and interviews with current and former employees.

"We did not plan for employees to use 1-year as the starting point for evaluating how much time away they needed for bonding and care, nor did we assume that employees would view this as a 1-year-leave," one HR official wrote to managers, according to the Journal, which said that Netflix has been trying to curb usage of the full year of leave since 2018.

Among employees, taking more than 6 months of parental leave is now "widely understood to be an unwise career move," the Journal reported. A Netflix spokesperson told the Journal that over the last four years, US employees at the company averaged 6.3 months of parental leave, and employees outside the country averaged 7.5 months.

A Netflix spokesperson told BI in a statement, "Employees have the freedom, flexibility and responsibility to determine what is best for them and their family. Our parental leave policy has always been to 'take care of your child and yourself.'" Sergio Ezama, Netflix's chief talent officer, said the company has "not pulled back" on its parental leave policy.

The company has also implemented a limit of $300 in company swag such as coffee mugs or sweatshirts per year that each employee can order, the Journal reported.

Meanwhile, the streamer has asked managers to tighten the purse strings on compensation. It previously let them pay above market rates to attract and retain talent; now, managers are asked to ensure salaries stay within 50% to 95% of employees' peers, per the Journal, citing emails.

Netflix updated its well-know culture memo in June, removing the "freedom and responsibility" section and adding one called "People Over Process" which spoke of hiring "unusually responsible people" who thrive on openness and freedom.

Netflix co-CEO Ted Sarandos said at The Wall Street Journal's Tech Live conference in October that he received pushback for changing the memo.

"We are constantly working on improving the culture," he said. "And so when anyone says, 'Hey, the culture is changing.' Yes, of course it needs to. We definitely change the culture. We wanted to reflect how we work, not dictate how we work."

He said that the company had fewer than 300 employees when he and Netflix cofounder Reed Hastings wrote the memo. While the initial memo was "perfectly suited" for the company's size at the time, the revised version "actually reflects much more today our 14,000 employee business culture," he said.

The changes signal a culture shift at the streamer as it contends with pressure from Wall Street and other challenges. The company has recovered from shedding subscribers for the first time in a decade in 2022, but in recent years has cracked down on password-sharing to boost its subscription numbers.

Netflix isn't the only company reining in perks. As a focus on efficiency sweeps the tech industry, spurring mass layoffs and cost-cutting initiatives, other companies are cracking down. Meta recently fired some employees who misused its $25 Grubhub meal perk. Google told staff last year it was reducing cafΓ© hours on campus and shifting fitness class offerings and shuttle schedules based on usage.

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20 books that Elon Musk, Jeff Bezos, and Bill Gates recommend you read

side-by-side of Elon Musk, Jeff Bezos, and Bill Gates
Elon Musk, Jeff Bezos, and Bill Gates have some reading advice.

Yasin Ozturk/Getty Images; Paul Ellis/Getty Images; Michael Loccisano/Getty Images

  • Many executives say they've learned valuable lessons on business from books.
  • Elon Musk, Jeff Bezos, and Bill Gates are no exception.
  • Here are 20 books they've said taught them a lot about business, leadership, and the forces shaping our world.

You learn by doing β€” but you can also learn a lot by reading.

Many influential business figures, including Tesla CEO Elon Musk, Amazon cofounder Jeff Bezos, and Microsoft cofounder Bill Gates say they've learned some of the most important lessons in their lives from books.

They've recommended countless books over the years that they credit with strengthening their business acumen and shaping their worldviews.

Here are 20 books recommended by Musk, Bezos, and Gates to add to your reading list:

Jeff Bezos
Amazon founder and chair Jeff Bezos pictured here in front of a giant image of a book.

Mario Tama/Getty Images

Some of Bezos' favorite books were instrumental to the creation of products and services like the Kindle and Amazon Web Services.

"The Innovator's Solution"
The Innovator's Solution book cover

Harvard Business Review Press

This book on innovation explains how companies can become disruptors. It's one of three books Bezos made his top executives read one summer to map out Amazon's trajectory.

"The Goal: A Process of Ongoing Improvement"
'The Goal  A Process of Ongoing Improvement' by Eliyahu Goldratt

Amazon

Also on that list was "The Goal," in which Eliyahu M. Goldratt and Jeff Cox examine the theory of constraints from a management perspective.

Buy it here >>

"The Effective Executive"
The Effective Executive book cover

Amazon

The final book on Bezos' reading list for senior managers, "The Effective Executive" lays out habits of successful executives, like time management and effective decision-making.

"Built to Last: Successful Habits of Visionary Companies"
'Built to Last  Successful Habits of Visionary Companies' by Jim Collins

HarperCollins Publishers/Amazon

This book draws on six years of research from the Stanford University Graduate School of Business that looks into what separates exceptional companies from their competitors. Bezos has said it's his "favorite business book."

Buy it here >>

"The Remains of the Day"
'The Remains of the Day' by Kazuo Ishiguro

Vintage International/Amazon

This Kazuo Ishiguro novel tells of an English butler in wartime England who begins to question his lifelong loyalty to his employer while on a vacation.

Bezos has said of the book, "Before reading it, I didn't think a perfect novel was possible."

Buy it here >>

"Lean Thinking: Banish Waste and Create Wealth in Your Corporation"
'Lean Thinking  Banish Waste and Create Wealth in Your Corporation' by James Womack and Daniel Jones

Simon & Schuster/Amazon

This book imparts lessons about improving efficiency based on case studies of lean companies across various industries.

Buy it here >>

Elon Musk
Elon Musk in 2020

Yasin Ozturk/Getty Images

The Tesla CEO has recommended several AI books, sci-fi novels, and biographies over the years.

"What We Owe the Future"
cover of the book "What We Owe the Future" by William MacAskill

Amazon

One of Musk's most recent picks, this book tackles longtermism, which its author defines as "the view that positively affecting the long-run future is a key moral priority of our time." Musk says the book is a "close match" for his philosophy.

"Superintelligence: Paths, Dangers, Strategies"
superintelligence

Amazon

Musk has also recommended several books on artificial intelligence, including this one, which considers questions about the future of intelligent life in a world where machines might become smarter than people.

Buy it here >>

"Our Final Invention: Artificial Intelligence and the End of the Human Era"
our final invention

Amazon

On the subject of AI, Musk said in a 2014 tweet that this book, which examines its risks and potential, is also "worth reading."

Buy it here >>

"Life 3.0: Being Human in the Age of Artificial Intelligence"
Life 3.0: Being Human in the Age of Artificial Intelligence book cover

Amazon

In this book, MIT professor Max Tegmark writes about ensuring artificial intelligence and technological progress remain beneficial for human life in the future.

"Zero to One: Notes on Startups, or How to Build the Future"
Zero to One

Amazon

Peter Thiel shares lessons he learned founding companies like PayPal and Palantir in this book.

Musk has said of the book, "Thiel has built multiple breakthrough companies, and Zero to OneΒ shows how."

Buy it here >>

"Einstein: His Life and Universe"
einstein

Amazon

Musk's reading list isn't without biographies, including this Walter Isaacson book on Albert Einstein as well as Isaacon's biography of Benjamin Franklin. Isaacson more recently published a biography of Musk himself.

Buy it here >>

Bill Gates
Bill Gates smiling.

Leon Neal/Getty Images

The Microsoft cofounder usually publishes two lists each year, one in the summer and one at year's end, of his book recommendations.

"How the World Really Works"
cover of book How the World Really Works

Penguin Random House

In his 2022 summer reading list, Gates highlighted this work by Vaclav Smil that explores the fundamental forces underlying today's world, including matters like energy production and globalization.

"If you want a brief but thorough education in numeric thinking about many of the fundamental forces that shape human life, this is the book to read," Gates said of the book.

"Why We're Polarized"
cover of book Why We're Polarized by Ezra Klein

Simon & Schuster

Ezra Klein argues that the American political system has became polarized around identity to dangerous effect in this book, also on Gates' summer reading list in 2022, that Gates calls "a fascinating look at human psychology."

"Business Adventures: Twelve Classic Tales from the World of Wall Street"
business adventures

Amazon

Gates has said this is "the best business book I've ever read." It compiles 12 articles that originally appeared in The New Yorker about moments of success and failure at companies like General Electric and Xerox.

Buy it here >>

"Factfulness: Ten Reasons We're Wrong About the Worldβ€”and Why Things Are Better Than You Think"
"Factfulness: Ten Reasons We're Wrong About the World β€” and Why Things Are Better Than You Think," by Hans Rosling

Amazon

This book investigates the thinking patterns and tendencies that distort people's perceptions of the world. Gates has called it "one of the most educational books I've ever read."

Buy it here >>

"Origin Story: A Big History of Everything"
origin story david christian

Little, Brown and Company

David Christian takes on the history of our universe, from the Big Bang to mass globalization, in this book.

Buy it here >>

"The Sixth Extinction: An Unnatural History"
β€œThe Sixth Extinction: An Unnatural History” by Elizabeth Kolbert

Amazon

Elizabeth Kolbert plumbs the history of Earth's mass extinctions in this book, including a sixth extinction, which some scientists warn is already underway.

Buy it here >>

"The Myth of the Strong Leader: Political Leadership in the Modern Age"
the myth of the strong leader

Amazon

This Archie Brown book examines political leadership throughout the 20th century.

Buy it here >>

"The Coming Wave"
book cover of "The Coming Wave" by Mustafa Suleyman

Amazon

One of Gates' most recent book picks comes from the head of Microsoft AI.

Mustafa Suleyman's "The Coming Wave" explores the opportunities and risks posed by scientific breakthroughs like AI and gene editing.

"If you want to understand the rise of AI, this is the best book to read," Gates wrote of the book.

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Marc Benioff says Big Tech's 'excessive' AI spending is a 'race to the bottom'

Marc Benioff speaking on a panel at the World Economic Forum wearing a black suit and black shirt
Marc Benioff says some of Salesforce's competitors are overdoing it with their spending on AI.

FABRICE COFFRINI/ Getty Images

  • Salesforce isn't investing as much in AI as some of its competitors, and its CEO likes it that way.
  • Marc Benioff said some of its rivals are in "a race to the bottom" with "excessive" AI spending.
  • Benioff's plan? "I'm going to take advantage of their spending to make my products better," he said.

Salesforce's CEO says the company isn't spending as lavishly on AI as some of its tech peers β€” and he isn't worried about falling behind.

Instead, Marc Benioff says the company will capitalize on the vast AI spending gap between it and some of its competitors and avoid a "race to the bottom."

"I think they're going to keep spending and it's going to be expensive for them and it's going to drive their margins down," he said on a Monday episode of the "On with Kara Swisher" podcast. "I'm going to take advantage of their spending to make my products better and lower cost and easier for my customers."

Salesforce offers multiple enterprise AI products, including Agentforce, its newly announced suite of AI agents that automate workplace tasks, and its AI Cloud, which hosts LLMs from partners like Amazon Web Services. It also offers Einstein Copilot, a generative AI-powered assistant for customer relationship management.

The Salesforce CEO said "the way we've architected our platform" has allowed the company to spend less on AI and its AI models "are incredibly efficient."

"We do things a little differently, the way we train, the way we write the software," he said. "And also we tend to use other people's data centers, so we will use Amazon and Google and others and not rely on too much of our own hardware β€” although we have some, it's not our philosophy."

Benioff said some of Salesforce's competitors were "excessive" with their AI spending and "it's becoming a race to the bottom for some of these companies."

"While there is a big movement of a lot of companies into these kind of public clouds I think that we have to be careful exactly how much we're investing," he added.

It's not clear exactly how much Salesforce has invested in its own AI efforts. However, the company's research and development costs for the third quarter were $1.35 billion, a year-over-year increase of around 12.6%.

Benioff said the spending by Salesforce's rivals was evident in the companies' energy use, which he said should also be managed. He also highlighted that some have invested in nuclear energy and nuclear power plants.

"This is really an unusual development," he said.

Some of the biggest names in tech have announced major deals to source nuclear energy to power their data centers.

Meta a few days ago said it's putting out a request for proposals from nuclear energy developers in a bid to help power its AI ambitions and sustainability initiatives. In September, Microsoft inked a 20-year power purchase agreement with energy company Constellation in a deal that would bring part of Three Mile Island, the site of the worst nuclear energy accident in the US, back online. In October, Google announced a deal to buy nuclear energy from small modular reactors to be built by Kairos Power.

While Wall Street has been keen to hear from CEOs when the billions invested in AI will start bearing fruit, there are signs the spending isn't slowing down.

Meta said in its latest earnings report that it expects "a significant acceleration in infrastructure expense growth next year" and "significant capital expenditures growth in 2025," owing in no small part to its work on AI. Microsoft's CFO similarly said in its recent quarterly earnings that the company expected its own capital expenditure to increase owing to demand for its cloud and AI services.

Aravind Srinivas, the CEO of Perplexity AI, touched on a similar sentiment as Benioff when he said in a recent talk at Stanford that building proprietary AI models is extremely costly and his startup would much rather build off of other firms' models.

"We had a conviction that, number one, models are going to get increasingly commoditized and if you do want to be one of those players that are a provider of the models, you need to have an insane amount of funding and you need to be a company that is losing billions of dollars a year and it's still fine," he said.

"We were not in a position to be and we didn't want to be either," the Perplexity CEO said. "So we decided to use other people's models and shape them to be really good for end-to-end consumer experience."

Read the original article on Business Insider

Donald Trump and Jeff Bezos' dinner at Mar-a-Lago is the latest development in their long history

side-by-side image of Amazon founder Jeff Bezos, left, and Donald Trump, right
Jeff Bezos and Donald Trump have quarreled at times over the years.

AP / Anna Moneymaker/Getty Images

  • Jeff Bezos and Donald Trump have been at odds over the years.
  • However, Bezos says Trump has "probably grown in the last 8 years" and he'd like to help him in "reducing regulation."
  • The two men recently had dinner at Mar-a-Lago.

A dinner between Donald Trump and Amazon founder Jeff Bezos is the latest development in their history, which has seen both men criticize each other publicly.

Bezos has spoken out against Donald Trump in the past β€” and vice versa. However, Bezos has changed his tune on the president-elect, saying he is feeling optimistic now about Trump's return to the Oval Office.

Speaking at The New York Times' DealBook Summit earlier this month, Bezos said he's "actually very optimistic" about another Trump term.

"What I've seen so far is he is calmer than he was the first time and more settled," he said. "You've probably grown in the last eight years. He has too."

Bezos said he's also encouraged by Trump's deregulation aims, which include his newly created Department of Government Efficiency, headed by Vivek Ramaswamy and Elon Musk, a Trump ally and major donor to his campaign.

"He seems to have a lot of energy around reducing regulation. If I can help do that, I'm going to help him," Bezos said.

Bezos, alongside fiancΓ©e Lauren SΓ‘nchez, recently met with Trump at Mar-a-Lago for dinner, joined by Musk.

The billionaire Amazon founder and Trump have been contentious at times. In 2016, Bezos said Trump's wish to lock up Hillary Clinton or refuse to accept a loss in that election "erodes our democracy around the edges."

"One of the things that makes this country as amazing as it is, we are allowed to criticize and scrutinize our elected leaders," Bezos said at the time.

"An appropriate thing for a presidential candidate to do is say, 'I am running for the highest office in the world, please scrutinize me,'" he continued. "That's not what we've seen. To try and chill the media and threaten retribution and retaliation, which is what he's done in a number of cases, it just isn't appropriate."

Following Trump's election that year, Bezos was one of several tech leaders who met with the president-elect in a summit Bezos later described as "very productive." Introducing himself in the meeting, Bezos added that he was "super excited about the possibilities this could be the innovation administration."

Trump and Amazon

While campaigning for the 2016 presidential election, Trump said Amazon would have "such problems" if he became president.

In 2017, he tweeted that the company was "doing great damage to tax paying retailers" and that "towns, cities and states throughout the U.S. are being hurt."

He repeated similar sentiments the following year, saying that Amazon was pushing smaller retailers out of business.

Trump has also said on multiple occasions that Amazon should be paying more for USPS deliveries.

"Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer?" he tweeted in 2017. "Should be charging MUCH MORE!"

In 2019, Amazon filed a federal complaint challenging the Department of Defense's decision to award Microsoft a $10 billion contract to move sensitive data to a cloud server rather than Amazon Web Services.

The company said in the complaint that Trump swayed the decision to "pursue his own personal and political ends" and to harm Bezos, "his perceived political enemy." Amazon said Trump made "repeated public and behind-the-scenes attacks" about the company and Bezos, who was still CEO at the time.

In 2021, theΒ DoD canceled the contract with Microsoft and announced a multi-vendor contract to seek proposals from Microsoft and AWS as "the only Cloud Service Providers (CSPs) capable of meeting the Department's requirements."

Trump and The Washington Post

Trump has repeatedly criticized The Washington Post, which Bezos owns.

In 2019, Trump bashed Bezos and the Post as he appeared to talk about Bezos' divorce from MacKenzie Scott.

"So sorry to hear the news about Jeff Bozo being taken down by a competitor whose reporting, I understand, is far more accurate than the reporting in his lobbyist newspaper, the Amazon Washington Post," Trump wrote on X. "Hopefully the paper will soon be placed in better & more responsible hands!"

For the first time in decades, the newspaper didn't publish an endorsement of a presidential candidate in 2024.Β Bezos reportedly intervened to block an endorsement of Kamala HarrisΒ that had already been drafted.

Bezos later wrote an op-ed defending the newspaper's decision to decline to endorse, saying endorsements "create a perception of bias" and "do nothing to tip the scales of an election."

Trump and Bezos

After the assassination attempt on Trump at a Pennsylvania rally in July 2024, Bezos broke a hiatus of nearly nine months on X, formerly known as Twitter, to write, "Our former President showed tremendous grace and courage under literal fire tonight. So thankful for his safety and so sad for the victims and their families."

Following Trump's second election win, Jeff Bezos congratulated him on "an extraordinary political comeback and decisive victory," wishing the president-elect "all success in leading and uniting the America we all love."

CEOs and business leaders quickly began making the journey to Mar-a-Lago in Florida to meet with the president-elect, and Trump mentioned that a dinner with Bezos was planned.

β€³Mark Zuckerberg's been over to see me, and I can tell you, Elon is another and Jeff Bezos is coming up next week, and I want to get ideas from them," Trump told CNBC's Jim Cramer in December.

After Meta confirmed plans to donate $1 million to Trump's inauguration fund, Amazon followed suit with its own $1 million donation.

Bezos and Trump ended up dining together, and were joined by Musk, who said it was a "great conversation."

Read the original article on Business Insider

The PayPal Mafia includes tech titans like Elon Musk, Peter Thiel, and Reid Hoffman. Here's where its members are now.

Peter Thiel
Peter Thiel, left, and Elon Musk, are two members of the so-called "PayPal Mafia."

Associated Press

  • A group of early 2000s PayPal employees and founders came to be known as the "PayPal Mafia."
  • The members have all gone on to impact Silicon Valley by founding and developing major companies.
  • The group includes Elon Musk, Peter Thiel, Reid Hoffman, and the founders of both YouTube and Yelp.

What do the founders of YouTube, Yelp, Tesla, and LinkedIn have in common?

Apart from creating some of the biggest companies in tech, they all share a common rΓ©sumΓ© line item: they've all worked at PayPal.

Many of PayPal's early employees went on to become major names in tech and the venture capital world, founding, funding, and otherwise developing successful companies. This elite group came to be known as the "PayPal Mafia," a nickname that gained popularity after Fortune used the term in a 2007 piece alongside a photo of some of the members dressed in gangster attire.

Members of the group include Elon Musk, Peter Thiel, Reid Hoffman, and over a dozen others. Here's a rundown of the most prominent members of this exclusive group and what they're up to over two decades later.

Peter Thiel: PayPal's founder and the so-called "don" of the PayPal Mafia
peter thiel elon musk early paypal
Peter Thiel in 1999.

AP

Peter Thiel cofounded the company that would become Paypal β€” called Confinity β€” in 1999 alongside Max Levchin and Luke Nosek. Confinity was launched as a developer of security software for hand-held devices like the PalmPilot, but it later pivoted toward digital money transfers.Β 

Thiel served as CEO of PayPal until October 2002, when eBay acquired the company for $1.5 billion. Thiel's 3.7% stake was worth a $55 million, according to SEC filings.

Thiel went on to cofound Founders Fund, a venture capital firm that has helped launch companies like SpaceX and Airbnb.
peter thiel
Thiel is now a billionaire.

Chip Somodevilla/Getty Images

Thiel, now a billionaire with a net worth of $15.9 billion, according to Bloomberg, cofounded the big data analysis firm Palantir in 2003. He was the first major outside investor in Facebook and contributed early funding to Yelp and LinkedIn, along with a number of other ventures launched by his PayPal peers. Thiel's also a partner of Founders Fund, a venture capital fund based in San Francisco.

Thiel has also drawn criticism in recent years for his support of President Donald Trump and for secretly funding Hulk Hogan's lawsuit against Gawker Media, which resulted in the company shutting down Gawker and selling the company's assets.

After facilitating talks between Trump and now Sen. JD Vance, Thiel gave a record-breaking $15 million to Vance's campaign, the largest donation ever given to a single senate candidate.Β 

Thiel later told The Atlantic he was taking a break from politics. Business Insider later reported that he served as an FBI informant.

While his and Trump's relationship has reportedly soured, Trump's recent announcement of VanceΒ as his vice president pick has put Thiel back to playing kingmaker.

Max Levchin: PayPal cofounder and Chief Technology Officer.
Max Levchin
Max Levchin was a cofounder of PayPal.

Ben Margot/AP

Max Levchin is sometimes called the "consigliere" of the PayPal Mafia β€” in "The Godfather," a consigliere is an advisor to the boss.

Levchin made significant contributions to PayPal's anti-fraud efforts. Together with PayPal technical architect David Gausebeck, he helped create the Gausebeck-Levchin test, an early version of a CAPTCHA for commercial applications.

Levchin now serves as the CEO of Affirm.
Max Levchin
Levchin is now CEO of Affirm.

Getty

After PayPal was bought by eBay, Levchin founded a media-sharing service called Slide that was later bought by Google. He was also an early investor in Yelp β€” at one point he was the company's largest shareholder β€” and he served asΒ chairman of Yelp from its founding in 2004 until July 2015.

He founded fintech company Affirm, which allows consumers to finance online purchases at the point of sale and pay for them over time. Affirm went public in 2021, raising $1.2 billion in its IPO. Levchin is also the chairman of Glow, a fertility-tracking app that helps users improve their odds of conceiving.

Ken Howery: PayPal cofounder and CFO from 1998 to 2002.
Ken Howery
Howery served as PayPal's CFO.

Patrick McMullan/Patrick McMullan via Getty Images

After eBay bought PayPal, Howery stayed on as eBay's director of corporate development until 2003. After PayPal's acquisition, he served as cofounder and partner of Founders Fund alongside Peter Thiel.

Howery recently served as US ambassador to Sweden.
Ken Howery
Princess Madeleine of Sweden and Ambassador Ken Howery.

Bennett Raglin/Getty Images for the World Childhood Foundation

He was appointed by former President Trump in January 2019 and confirmed in September of that year. He also donated $1 million earlier this year to America PAC, a pro-Trump super PAC created by fellow PayPal mafia member Elon Musk.

Howery is active in several nonprofits and serves as a founding advisor to Kiva, an organization that facilitates loans to low-income entrepreneurs. Kiva was founded in part by Premal Shah, PayPal's former product manager.

Howery is reportedly still good friends with Elon Musk.Β 

Elon Musk: founder of (the other) X.com, which merged with Thiel's Confinity to become PayPal
peter thiel elon musk early paypal
Elon Musk pictured in the early days of PayPal.

AP

In 1999, Elon Musk founded a payments company called X.com, which merged with Thiel's Confinity in 2000. He briefly served as CEO of PayPal before he was ousted by the board in September 2000 and replaced with Thiel. But as the company's largest shareholder, he still walked away from the PayPal sale to eBay with a cool $165 million.

Musk is currently the world's richest person.
elon musk
Musk now juggles multiple companies, including Tesla, SpaceX, and X, formerly Twitter.

Patrick Fallon / Reuters

Perhaps the best-known of all the members of the PayPal mafia now, Musk's estimated net worth is $362 billion.

Since his PayPal days, Musk has moved on to oversee companies like Tesla, SpaceX, the Boring Company, and Neuralink. He also bought Twitter and renamed it X, after buying back the X.com domain name from PayPal.Β 

Musk, who has been a vocal supporter of Trump's 2024 presidential campaign and donated more than $200 million to Republican election efforts, will also co-lead the newly created Department of Government Efficiency alongside former Republican presidential candidate Vivek Ramaswamy, Trump announced after winning the election.

Luke Nosek: PayPal cofounder and vice president of marketing and strategy.
PayPal
Nosek was also a PayPal cofounder.

Thomson Reuters

Nosek was also reportedly the person who clued in Peter Thiel to cryogenic preservation, which Thiel has since invested in heavily.

Nosek explored angel investing.
Luke Nosek
Nosek is a SpaceX investor.

David M. Benett/Getty Images for Netflix

In 2005, Nosek joined Thiel and Howery as a partner at Founders Fund. In 2017, Nosek left Founders Fund to launch investment firm Gigafund, which helped raise money for SpaceX.

Nosek was also the first institutional investor in SpaceX and is a board member. He also joined the board of ResearchGate, a platform where scientists and researchers can ask questions, follow topics, and review one another's papers.

Roelof Botha: PayPal's director of corporate development, vice-president of finance, CFO
Roelof Botha
Botha started at PayPal as director of corporate development.

Paul Zimmerman/Getty Images for TechCrunch/AOL

Botha went to school to be an actuary. He said he never planned to get into tech, but when he saw the opportunity in Silicon Valley, his intuition told him it was where he needed to be.

He started as PayPal's director of corporate development, went on to become vice-president of finance, and later served as CFO.

Botha is now a partner at venture capital firm Sequoia Capital
Roelof Botha
Botha is a major tech investor.

Steve Jennings/Getty Images for TechCrunch

Botha is now considered one of the top tech investors in the world.

Sequoia Capital has funded tech giants like Apple, Google, YouTube, and Instagram.Β 

Botha as served on the board at more than a dozen companies, including Square, EventBrite, Weebly, Tumblr, Instagram, YouTube, as well as 23andMe, which he resigned alongside the rest of the board in September over CEO Anne Wojcicki's proposal to take the company private.

Reid Hoffman: board of directors at PayPal, COO
Reid Hoffman
Hoffman started on PayPal's board of directors.

Tony Avelar/AP

LinkedIn cofounder Reid Hoffman served on the board of directors when PayPal was founded.

He eventually joined the company full-time as PayPal's COO. In a New York Times interview, Peter Thiel referred to Hoffman as PayPal's "firefighter in chief," noting that there were many fires that needed putting out in the company's early days.

When PayPal was acquired by eBay, Hoffman was the company's executive vice president.

Hoffman cofounded LinkedIn and is one of Silicon Valley's most prolific angel investors.
reid hoffman
Hoffman cofounded LinkedIn in 2002.

Kelly Sullivan/Getty Images

Hoffman was an early investor in Facebook, Flickr, Care.com, and many more. In 2017 he joined the board of Microsoft.

Hoffman has coauthored several books on startups and professional development. He hosts the "Masters of Scale" podcast, on which he interviews founders about how they launched and scaled their companies, and is a partner at VC firm Greylock Partners. He was an early investor in OpenAI and used to serve on its board, and cofounded Inflection AI.

Hoffman has also recently criticized business leaders, including his fellow PayPal mafia members, for supporting Trump.

Β 

David Sacks: PayPal COO
Yammer CEO David Sacks at Launch Festival 2013
Sacks served as PayPal's COO.

Owen Thomas, Business Insider

Like Hoffman, Sacks also served as COO at PayPal. Previously a management consultant for McKinsey & Company, David Sacks joined PayPal in 1999.

After PayPal was bought by eBay, Sacks produced and financed the box office hit "Thank You For Smoking," which would go on to be nominated for two Golden Globes. In 2006 he founded Geni.com, an online tool for building family trees.

Β 

Sacks founded several companies, became an angel investor, and was named Trump's AI and crypto 'czar'
David Sacks
Sacks went on to become a major investor.

REUTERS/Beck Diefenbach

In 2016, Sacks was briefly interim CEO at Zenefits, an HR software firm that was plagued by scandal, including allowing unlicensed brokers to sell insurance to its customers. In 2017, Sacks cofounded the early-stage investment firm Craft Ventures.Β 

Sacks is a serial entrepreneur and investor, with angel investments in Airbnb, Postmates, Slack, and many more.Β 

He's also a member of Elon Musk's inner circle and, like the Tesla CEO, is an avid Trump supporter, hosting a fundraiser for the president-elect at his home. Sacks reportedly urged Trump personally to choose Vance as his running mate, whom he was introduced to by fellow Paypal mafia member Thiel.

Trump said in December that he is appointing Sacks as his White House AI and crypto czar.

Β 

Β 

Β 

Jawed Karim, Chad Hurley, and Steve Chen met at PayPal during its early days.
YouTube founders
Steven Chen, left, and Chad Hurley.

Noah Berger/AP

Karim and Chen were engineers, while Hurley was a web designer.

In 2005, the trio launched the video-sharing platform YouTube. Karim uploaded the platform's very first video, "Me at the zoo," an 18-second clip of Karim in front of the San Diego Zoo's elephant exhibit. It's been viewed over 292 million times.

Today, Karim, Hurley, and Chen remain active entrepreneurs and investors with a hand in projects from finance to music.
Chad Hurley YouTube
The trio went on to become investors.

David Buchan/Getty Images

Karim launched venture fund YVentures in 2008, through which he invested in Palantir, Reddit, Eventbrite, and Airbnb.

Hurley stepped down as CEO of YouTube in 2010. Since then, he's backed education startup Uptime and invested in several sports teams.

Chen invested in actor Joseph Gordon-Levitt's musical collaboration platform HitRecord, which in February secured $6.4 million in Series A funding.

Andrew McCormack: assistant to Peter Thiel at PayPal
PayPal
McCormack served as Thiel's assistant at PayPal.

Paul Sakuma/AP

McCormack joined PayPal in 2001, working as an assistant to Peter Thiel as the company prepared for its IPO.

In 2003, McCormack started a restaurant group in San Francisco. In 2008, he joined Thiel Capital and worked there for 5 years.

McCormack went on to launch VC firm Valar Ventures
Peter Thiel
Peter Thiel.

Alex Wong/Getty Images

McCormack partnered up with Thiel again in 2010 to found Valar Ventures, a venture capital fund.

Valar Ventures has invested in technology startups well beyond Silicon Valley, including some in Europe and Canada. In August, Crunchbase reported the firm had closed on a $150 million funding round for a new venture capital fund, Valar Fund V.

McCormack continues to serve as a managing partner of the firm.

Β 

Keith Rabois: PayPal's executive vice president
Keith Rabois
Rabois served as PayPal's executive vice president.

Fortune Live Media via Flickr

Entrepreneur Keith Rabois served as PayPal's executive vice president from 2000 to 2002.

He would go on to join his PayPal colleague Reid Hoffman at LinkedIn as its vice president for business and corporate development from 2005 to 2007. He was an early investor in startups like Square, where he spent two-and-a-half years as COO.Β 

Rabois joined Thiel, Howery, and Nosek as a partner at Founders Fund.
Keith Rabois
Rabois has invested in a number of major companies.

Steve Jennings/Getty Images for TechCrunch

Rabois is the CEO of OpenStore and has served on the board of directors for Yelp, Xoom, and Reddit.

He was a general partner at Founder's Fund, where he cofounded OpenStore, before returning to Khosla Ventures in early 2024.

Russel Simmons and Jeremy Stoppelman: worked on technology at PayPal.
Jeremy Stoppelman Russel Simmons

Eric Risberg/AP

Simmons was an engineer and Stoppelman was the vice president of technology after joining PayPal from X.com.

In 2004, the pair came up with the idea for a platform where users could leave recommendations about businesses in their area. They pitched the idea to Levchin, who provided an early investment of $1 million, and Yelp was born.

Simmons left his official role at Yelp in 2010, while Stoppelman continues to serve as Yelp's CEO.
Jeremy Stoppelman

MediaNews Group/Bay Area News via Getty Images

Simmons served as CTO at Yelp from 2004 until he left the role in 2010. Stoppelman is still CEO of Yelp, and has publicly spoken out in support of political issues like women's reproductive rights.

Jack Selby: PayPal's vice president of corporate and international development.
FILE PHOTO: The German headquarters of the electronic payments division PayPal is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch/
Selby started Clarium Capital Management.

Reuters

After leaving PayPal, Selby partnered with Thiel to start Clarium Capital Management.

In 2017, Selby was revealed to be the generous tipper behind "Tips for Jesus."
jack selby

Photo by Charles Sykes/Invision/AP

Selby later helped manage Thiel Capital, the Thiel's family office, and started his own venture capital fund, AZ-VC, where he serves as managing partner. He still serves as managing director at Thiel Capital.

Starting in 2013, Selby began anonymously leaving tips for unsuspecting waitstaff, ranging into the thousands, and signing them "Tips for Jesus." His identity was confirmed by a New York City bartender who served him prior to receiving a $5,000 tip.

Dave McClure: PayPal's director of marketing
Dave McClure
McClure served PayPal's director of marketing.

Edward Wong/South China Morning Post via Getty Images

McClure served PayPal's director of marketing as for four years beginning in 2001.

According to McClure's LinkedIn, he began a program called the PayPal Developer Network, which consisted of about 300,000 developers that were using PayPal.Β 

McClure left PayPal in 2004.
Dave McClure

Getty Images

He had a brief stint at Founders Fund before launching 500 Startups, an early stage venture fund. McClure stayed at 500 Startups until June 2017, when he was accused of "inappropriate behavior with women" in a New York Times report and stepped down from his role at the firm, writing an apology post titled "I'm a creep. I'm sorry."

He's since become an investor and owner in a professional sports league for ultimate frisbee and cofounded Practical Venture Capital, according to his LinkedIn.

Β 

Several more former PayPal employees went on to have careers both in and out of tech.
Joe Lonsdale
Joe Lonsdale, who got his start as a finance intern at PayPal.

Brian Ach/Getty Images for TechCrunch

  • Yishan Wong was an engineering manager who later served as CEO of Reddit from 2011 to 2014. He then founded the reforestation company Terraformation in 2020, where he now serves as CEO.
  • Jason Portnoy worked in finance at PayPal, and went on to work at Clarium Capital and Palantir. He's now a partner at VC firm Oakhouse Partners.Β 
  • Premal Shah was a product manager at PayPal beginning in 2000, then went on to work at technology nonprofit Kiva. He's now president at financial-services startup Branch.Β 
  • David Gausebeck was a technical architect at PayPal. Now, he serves as chief scientist at 3D modeling company Matterport. He cofounded 3D modeling company Matterport, where he now serves as chief scientist.
  • Joe Lonsdale started his career as a finance intern at PayPal before moving into venture capital β€” he's worked at VC firms Clarium Capital, Formation 8, and 8VC. Lonsdale also cofounded Palantir, and has reportedly contributed to a Trump PAC.
  • Eric Jackson was director of marketing at PayPal and went on to write a book about the company called "The PayPal Wars." He's currently the CEO of CapLinked.Β 
Read the original article on Business Insider

Perplexity AI CEO shares his advice to startup founders on building a team

Portrait photo of Aravind Srinivas, a co-founder of Perplexity AI.
Aravind Srinivas, cofounder and CEO of Perplexity AI, recently spoke at the Stanford Graduate School of Business.

Perplexity AI

  • The CEO of Perplexity AI shared some principles that guided him as a startup founder.
  • Aravind Srinivas talked about having "an extreme bias for action" in a recent talk at Stanford.
  • He also said he believes in taking chances on hiring people who have "some chips on their shoulders."

Where do you start when hiring for your startup? The CEO of Perplexity AI has some tips.

Aravind Srinivas, who cofounded the AI startup in 2022, discussed his approach to leading Perplexity in a recent interview at the Stanford Graduate School of Business.

In the earliest days of the startup, Srinivas said he looked to bring on cofounders and "people with complementary skills."

"You don't want to be as good as them in what they excel at β€” I think they should be a lot better. Also, you don't want to step on their toes when they do that."

Over time, you build the team out further with a similar approach, targeting people who can "bring in new skills," he added.

The AI CEO also talked about his approach to running a company as it grew.

"I would say there's an extreme bias for action that I try to bring in and try to encourage everybody else in the company to adopt," he said. "And I think that's what's helping us continue to be fast, even when you've gotten to about 100 people."

Srinivas recalled advice he once received from a founder who said, "Once you get to 100 people, you're guaranteed to move slow."

While it's "so far, so good" at Perplexity, Srinivas said that at some point "you're going to hit the problems of scale and how to move fast, so I'm determined to solve that problem."

Srinivas also spoke of the importance of taking chances on people who have "some chips on their shoulders."

"Giving people who haven't necessarily become experts at one thing the opportunity to go do something they're not yet proven for is something I've done a lot," he said. "That's something that I wish more people did, the sort of experimentation, putting someone in the waters and letting them figure out how to swim. Rather than hiring the most well-known expert at that topic."

Perplexity made headlines earlier this year when news publications including The New York Times, Forbes, The Wall Street Journal, and Wired, alleged that the AI startup was improperly using their content without sufficient attribution.

Srinivas told The Associated Press in June that Perplexity "never ripped off content from anybody" and that its AI-powered search engine, which aggregates material generated by other companies' AI models, "is not training on anyone else's content."

"We are actually more of an aggregator of information and providing it to the people with the right attribution," Srinivas said at the time.

He reiterated the startup's position in the interview at Stanford.

"What we are trying to say is we are trying our level best to summarize, synthesize from diverse sources, and make sure to give credit to all the original sources," he said.

"We are doing our best to make sure the credit attribution part is clear," Srinivas said.

Read the original article on Business Insider

OpenAI wants to remove a clause about AGI from its Microsoft contract to encourage additional investments, report says

Sam Altman presenting onstage with the OpenAI logo behind him.
OpenAI CEO Sam Altman thinks artificial general intelligence, or AGI, will be achieved "sooner than most people in the world think."

Jason Redmond/AFP/Getty Images

  • OpenAI is reportedly looking into dropping a key clause from its multibillion-dollar Microsoft deal.
  • The clause ends Microsoft's access to OpenAI's advanced models when OpenAI achieves AGI.
  • It's meant to prevent misuse of AGI for commercial ends; nixing it could encourage more investment.

OpenAI is reportedly considering removing a clause from its contract with Microsoft in a move that could help it attract further investment from the tech giant.

Citing people with knowledge of the discussions, the Financial Times reported Friday that the ChatGPT maker was weighing whether to eliminate a clause that closes off Microsoft's access to its most advanced AI models when the startup achieves artificial general intelligence, or AGI.

OpenAI's website defines AGI as "a highly autonomous system that outperforms humans at most economically valuable work," adding that it's "explicitly carved out of all commercial and IP licensing agreements."

The clause is meant to prevent AGI from being misused for commercial purposes. The Financial Times noted that removing it could encourage Microsoft to keep cash flowing to the AI company. Microsoft has invested at least $13 billion in OpenAI.

OpenAI's website says its nonprofit board will both decide when AGI is achieved and take ownership of the technology.

The report said that OpenAI's board was still discussing options and no decision had been made.

OpenAI CEO Sam Altman remains bullish that the company will achieve AGI in the near future.

"My guess is we will hit AGI sooner than most people in the world think and it will matter much less," he said at The New York Times' DealBook Summit this week.

Altman also touched on the company's financial needs.

"When we started, we had no idea we were going to be a product company or that the capital we needed would turn out to be so huge," he said. "If we knew those things, we would have picked a different structure."

Reuters reported in September, citing sources familiar with the matter, that OpenAI was working on plans to restructure to a for-profit benefit corporation that would no longer be controlled by its nonprofit board and that would give Altman equity in the business for the first time.

OpenAI in October said it had closed a $6.6 billion funding round valuing the company at $157 billion.

OpenAI and Microsoft did not immediately respond to requests for comment.

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Spotify Wrapped was a flop for some music listeners this year

Spotify Wrapped 2024
Spotify Wrapped 2024 debuted this week with some new features β€” and not everyone loved the results.

Screenshot/Spotify

  • Spotify Wrapped missed the mark this year for many users.
  • Some Spotify listeners were frustrated by the recap's aesthetic and missing metrics from years past.
  • Some also said Spotify relied too heavily on generative AI in the recap.

Spotify Wrapped came out Wednesday, and some of the platform's users are already eager to put it behind them.

The streaming company's year-end recap gives people insight into their listening habits each year, via stats like their top songs, artists, and minutes spent listening.

This year, however, seemed to miss the mark for many. Listeners took to social media to air their frustrations with what they said was an inaccurate or underwhelming year-in-review that lacked the personality and insightful metrics they appreciated from Spotify's recaps of yesteryear.

"I'm not usually one to complain but this was one of the most boring Spotify Wrapped recaps I've been a part of and I've been a member since 2017," one Reddit user said.

This year's Wrapped did away with some of last year's features. It didn't, for example, reveal listeners' top genres or give them "sound towns," which told you a town with similar music taste as yours.

Instead, this year Spotify introduced features like the Wrapped AI podcast, powered by Google NotebookLM, featuring two AI voicebots discussing your listening habits. There was also Your Music Evolution, which gave highly specific, yet also inscrutable, names like "pink pilates princess strut pop" to describe your musical genres in certain months.

Some users felt particularly disappointed with what they saw given they also had to wait longer for their recaps this year. Spotify Wrapped came out on December 3 this year, a few days later than the November 29 release of last year's recap.

"This is what we waited for? This is so lame and anticlimactic. No top genres, no music aura and all the other cool stuff that was there before," another person said on Reddit.

"It's giving turned in homework late for participation points it feels so lame," one person said on TikTok, writing in the video's text overlay that this year's Wrapped felt "inaccurate" and "disappointing."

One user even said they were moved to cancel their Spotify Premium subscription and switch over to Apple Music, which recently made available on a monthly basis its Wrapped equivalent, Replay.

"Spotify wrapped so bad and full of AI garbage i cancelled my spotify and got apple music," one person said on X.

"Wrapped is an experience that fans look forward to every year, and our approach to the data stories did not change this year," Spotify told BI in a statement.

"We celebrated fan-favorite data stories like Your Top Artist and Top Songs with new insights like longest listening streak and top listening day," the company said. "We're always exploring ways to expand Wrapped and bring new data stories to users across more markets."

Google did not immediately respond to a request for comment about the criticisms around the AI features in Spotify Wrapped this year.

Other users who were disappointed highlighted that Spotify underwent layoffs in the last year.

Spotify cut more than 2,000 total employees across three rounds of layoffs last year. In an earnings call this year, CEO Daniel Ek stood by the December cuts as "the right strategic decision" but said it affected daily operations "more than we anticipated."

Spotify Wrapped debuted in 2016 and quickly became one of the most platform's celebrated features, and for many years was differentiated feature against rival music-streaming platforms.

Spotify Wrapped's popularity and easy ability to share the results to social media boosted its popularity and eventually helped pressure Apple to debut a similar recap feature for Apple Music in 2019, which began as a web-only feature.

Five years later, Apple Music finally made the feature available in the app itself.

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Bill Gates' top 5 books of the year include a Roger Federer biography and a book by the head of Microsoft AI

Bill Gates arrives at the 10th Breakthrough Prize Ceremony.
Bill Gates has released his annual list of his top book recommendations of the year.

Jordan Strauss/AP

  • On Tuesday, Bill Gates published his annual list of his favorite books of the year.
  • His top reads of 2024 include an autobiography and a book by the head of Microsoft AI.
  • Here are his top books of the year β€” and his bonus recommendation for tennis fans.

Bill Gates has released his yearly roster of book recommendations as 2024 comes to a close.

The Microsoft cofounder published a list Tuesday of his favorite books of the year.

"All four are, in one way or another, about making sense of the world around you," he wrote in his blog post. "This wasn't an intentional theme, but I wasn't surprised to see it emerge: It's natural to try and wrap your head around things during times of rapid change, like we're living through now."

Here are his top book picks of the year:

"An Unfinished Love Story" by Doris Kearns Goodwin

This autobiography from historian Doris Kearns Goodwin centers on her life with her late husband, Richard N. Goodwin, who was an advisor and speechwriter to Presidents John F. Kennedy and Lyndon B. Johnson.

"Doris is such a talented writer that the chapters about her love story are just as engaging and enlightening as the chapters about the Kennedy assassination and the Vietnam War," Gates said of the book.

"The Anxious Generation" by Jonathan Haidt

Social psychologist Jonathan Haidt argues in his book that smartphones and social media are changing how children grow up and contributing to mental health issues in adolescents.

"It made me reflect on how much of my younger yearsβ€”which were often spent running around outside without parental supervision, sometimes getting into troubleβ€”helped shape who I am today," Gates said of the book. "Haidt explains how the shift from play-based childhoods to phone-based childhoods is transforming how kids develop and process emotions."

"Engineering in Plain Sight" by Grady Hillhouse

This book from civil engineer Grady Hillhouse offers an illustrated field guide to the modern constructed world.

"Hillhouse takes all of the mysterious structures we see every day, from cable boxes to transformers to cell phone towers, and explains what they are and how they work," Gates wrote in his blog post. "It's the kind of read that will reward your curiosity and answer questions you didn't even know you had."

"The Coming Wave" by Mustafa Suleyman

Suleyman cofounded AI firms Inflection AI and DeepMind, which was acquired by Google. He now heads Microsoft's AI division. His book focuses on future opportunities and risks posed by artificial intelligence as well as other scientific breakthroughs, including gene editing.

Gates said of the book: "If you want to understand the rise of AI, this is the best book to read."

"Federer" by Doris Henkel

Gates' bonus book pick is a visual biography of tennis player Roger Federer by sports writer Doris Henkel. It features never-before-published photos of the sports icon.

"I thought I knew pretty much everything about Roger's history with tennis, but I learned a ton, especially about his early years," Gates said.

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Shein, semaglutide, and 8 other words people mispronounced the most in 2024

The exterior of the Shein Activation at the Shein VIP party during Parklife Festival at Heaton Park on June 8, 2024 in Manchester, England.
A Shein Activation in England earlier this year. The fast-fashion brand is pronounced "SHE-in."

Anthony Devlin/Getty Images for Shein

  • This year brought us another slate of words to butcher in the popular discourse.
  • Fast-fashion company Shein and Ozempic's active ingredient, semaglutide, both made the list.
  • Here are the top 10 most mispronounced words that dominated conversations this year, according to Babbel.

It's "SHE-in" β€” not "sheen."

2024 brought us another year of mispronounced names and words in the popular discourse, from brands to popular medicine to politicians and high-profile celebrities.

Since 2016, the closed-captioning company The Captioning Group has compiled the list on behalf of the language platform Babbel, bringing together all the terms that newscasters, politicians, and public figures struggled to pronounce correctly on TV.

Esteban Touma, a linguistic and cultural expert at Babbel, told Business Insider this year's words were a snapshot of the political, cultural, and musical zeitgeist.

Ready to test your pronunciation chops?

In no particular order, here are the top 10 most mispronounced words of the year, according to Babbel's report.

Semaglutide
Box of semaglutide injectables
Semaglutide is the active ingredient in Ozempic.

Peter Hansen/Getty Images

There is more to the hype surrounding semaglutide, the active ingredient of the weight loss medication Ozempic, than just its effects.

For those unfamiliar with the antidiabetic medication, pronouncing it can be a challenge.

Pronunciation: sem-ah-GLOO-tide

Pete Buttigieg
Pete Buttigieg
Secretary of Transportation Pete Buttigieg was one of the face's of the Democrats' efforts to win voters for Harris.

Liu Jie/Xinhua via Getty Images

The transportation secretary and former mayor of South Bend, Indiana, was one of the Democrats' most articulate spokespeople when he took over the airwaves and tried to appeal to swing voters and moderates for Harris.

He's also been known to spar with Elon Musk online.

Pronunciation: peet BOOD-ih-judge

Shein
A girl unwraps a black Shein skirt
Shein and other fast fashion companies have come under scrutiny for poor product quality and poor working conditions.

Rodrigo Arangua/AFP via Getty Images

The name of the fast fashion company Shein is frequently mispronounced as "Sheen." The company is reportedly planning to debut on the London Stock Exchange early next year.

Pronunciation: SHE-in

Kamala Harris
Kamala Harris
The first part of Kamala Harris' name is pronounced like "comma."

Tom Williams/Getty Images

Vice President Kamala Harris has often seen her name being mispronounced, most recently in the run-up to the November 2024 presidential election.

Her nieces, Amara and Leela, helped set the record straight onstage at the DNC in August.

"It's like a comma in a sentence," explained Amara. "Then you say 'la,' like 'la la la,'" added Leela.

Pronunciation: COM-a-la HAR-iss

Zendaya
Zendaya at the 2024 Gotham Awards at Cipriani Wall Street in New York City. on December 2, 2024.
Zendaya recently starred in "Challengers" and the second "Dune" film.

Taylor Hill/WireImage

Actress Zendaya starred as tennis prodigy Tashi Duncan in "Challengers" and as Chani in "Dune: Part II." Her name is frequently mispronounced "Zen-DIE-a."

Pronunciation: Zen-DAY-a

Chappell Roan
Chappell Roan wears a sparkly pink cowboy hat in a portrait photo.
Chappell Roan's "Good Luck, Babe!" was a hit this year.

Mary Mathis for The Washington Post via Getty Images)

Pop singer Chappell Roan had a breakout year in 2024.

She has humorously called out those who said [SHA-pel ROW-an] during a live performance, making it clear that it's actually [CHAP-uhl], which sounds like chapel, and [ROHN], which rhymes with tone.

Pronunciation: CHAP-uhl ROHN

SPECULOOS-3b
artist's visualization of Speculoos-3 b exoplanet
An artist's visualization of the Speculoos-3 b exoplanet.

NASA

SPECULOOS-3b is an Earth-sized exoplanet that orbits a red dwarf that captured global attention in May when astronomers announced its discovery at a distance of 55 light-years.

Pronunciation: SPEK-yuh-lohss three bee

Phryge
A performer wearing a "Phryge" Olympic mascot costume performs during a parade of French athletes who competed in the Paris 2024 Olympic and Paralympic Games on the Champs-Elysees avenue in Paris on September 14, 2024.
A performer wearing a "Phryge" Olympic mascot costume performs during a parade of French athletes who competed in the Paris 2024 Olympic and Paralympic Games on the Champs-Elysees avenue in Paris on September 14, 2024.

Andre PAIN / POOL / AFP

The phryge, the mascot of theΒ Paris 2024 Olympics and Paralympics, was chosen as a symbol of freedom and to represent allegorical figures of the French Republic.

Pronunciation: FREE-je

Barry Keoghan
Barry Keoghan attends the 2024 Golden Globes.
Barry Keoghan attends the 2024 Golden Globes.

Amy Sussman/Getty Images

The Irish actor rose to prominence for his role in Emerald Fennell's "Saltburn" last year, though Sabrina Carpenter fans will also know him as the pop singer's boyfriend.

Though the letter "G" is often silent in Irish names, Keoghan's last name has a distinct "G" sound.

Pronunciation: BARR-ee key-OH-gin

Dutch Kooikerhondje
Nederlandse Kooikerhondje
The breed has brightly spotted fur and floppy ears.

Shutterstock

Shohei Ohtani's dog, a Dutch Kooikerhondje, "threw" the first pitch at a game at Dodger Stadium after the Dodgers' pitcher signed a historic 10-year, $700 million deal with the MLB team.

Pronunciation: COY-ker-HUND-che

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