• Y Combinator group partner Jared Friedman last year switched to using robotaxis exclusively.
• Friedman told Business Insider that he estimated spending 4% of his waking hours in a Waymo in 2024.
• Friedman was also an early angel investor in Cruise, which was acquired by GM in 2016.

Angel investor and Y Combinator group partner Jared Friedman spends a lot of time in a Waymo.

To be more exact, Friedman told Business Insider in a recent interview that he estimated spending about 4% of his waking hours this past year in a Waymo robotaxi, getting to and from his home and office in San Francisco.

"For me, the great thing about self-driving cars is you can really work out of them," he said. "So I just get into the Waymo, I tether my laptop to my phone, and it's basically like my office on wheels."

According to his stats from the Waymo app, which Friedman shared in a post on X, the angel investor has spent 12,536 minutes inside a Waymo, traveling 2,105 miles for a total of 517 trips in 2024.

"Hit 2,000 miles in Waymo last year," he wrote in the post. "Hard to imagine life without it at this point."

A spokesperson for Waymo confirmed to Business Insider that Friedman is in the top 1% of Waymo riders.

Friedman's enthusiasm for self-driving cars may not come as a surprise.

He was an early angel investor in Cruise, the robotaxi company founded in 2013 and acquired by General Motors three years later. Friedman said he knew Cruise cofounder Kyle Vogt back when Vogt was working on Justin.tv, which eventually became Twitch.

Vogt, who stepped down as Cruise's chief executive in 2023, recently criticized GM after the automaker announced that it was pulling back its investment in Cruise.

"In case it was unclear before, it is clear now: GM are a bunch of dummies," he wrote on X.

Friedman recalled one of his first rides in a Cruise from more than 10 years ago and reveled in the progress self-driving technology has made since then.

"I remember getting to do a very early ride in a Cruise car when it was still just driving around in parking lots, and it was very jerky and kind of terrifying — very far from where we are now," he said. "But even at that time, there were some bold people who believed that this would be possible and 10 years and $10 billion later, it is."

Last August, Friedman said on X that he would exclusively get around San Francisco via self-driving cars since Cruise and Waymo at the time were more available to the public.

Cruise paused its robotaxi services in October 2023, shortly after California regulators suspended the company's permit to operate in the state due to several safety incidents.

Friedman said he took his first Waymo ride around the summer of last year. While he believes anyone can work in an Uber, Friedman said the Waymo experience is much smoother. He said he hasn't dealt with safety issues in any of his rides with a Waymo.

"You can do that in an Uber, but the Uber drivers are often quite aggressive," he said. "The Waymos are just very smooth drivers. You can really just focus. I think this has the potential to change the way people live and work."

Few technological innovations in his lifetime have instantly given Friedman that impression.

"One of them was the first time I picked up an iPhone," he said. "One of them was when I first used ChatGPT. And one of them was my first ride in a self-driving car."

"It was just absolutely obvious — instantly — that the world would never be the same," he said.

• The Big Four firms reported revenue growth in 2024 but consulting lagged behind other services.
• The firms reported more growth in tax and legal services while demand for consulting has slowed.
• PwC cited market factors and political uncertainty as reasons for slower growth in consulting.

The Big Four professional services firms — PwC, Deloitte, EY, and KPMG — all reported revenue growth this year, but growth in their consulting arms lagged compared to their other services.

After experiencing a boom during the pandemic, the consulting industry has faced economic headwinds and slowing demand over the past couple years. Major firms have conducted layoffs, delayed start dates, and cut partner pay.

Financial reports released by the Big Four professional services firms throughout the year showed their consulting arms grew slightly, but by less than their legal, tax, and assurance businesses.

In its financial report released in October, PwC cited a number of factors contributing to the slower growth in consulting.

"A continuing slow market for mergers and acquisitions, sluggish economic growth in a number of key markets and political uncertainty holding back investment in some key projects meant that the growth of our advisory operations slowed over the last twelve months," the report said.

KPMG, which was the last Big Four firm to report its 2024 financials this month, reported the highest overall revenue growth at 5.1% year-over-year.

Here's a breakdown of how the Big Four firms performed this year.

Deloitte

• Fiscal year end: May 2024
• Global revenue: $67.2 billionaire n
• Revenue growth, year-over-year: 3.1%

• Revenue growth by category:

  • Tax and legal: 8.7%
  • Audit and assurance: 4.1%
  • Consulting: 1.9%
  • Financial advisory: - 3.8%
  • Risk advisory: 3.2%

PwC

• Fiscal year end: June 2024
• Global revenue: $55.4 billion
• Revenue growth, year-over-year: 3.7%

• Revenue growth by category:

  • Tax and legal: 6.3%
  • Assurance: 3.4%
  • Advisory: 2.6%

EY

• Fiscal year end: June 2024
• Global revenue: $51.2 billion
• Revenue growth, year-over-year: 3.9%

• Revenue growth by category:

  • Assurance: 6.3%
  • Tax: 6.3%
  • Strategy and transactions: 2.3%
  • Consulting: 0.1%

KPMG

• Fiscal year end: September 2024
• Global revenue: $38.4 billion
• Revenue growth, year-over-year: 5.1%

• Revenue growth by category:

  • Tax and legal: 9.6%
  • Audit: 6.2%
  • Advisory: 2%

Have a news tip or a story to share? Do you work in consulting? Contact this reporter at [email protected].

• In 2005, my husband and I decided to throw a white elephant party.
• We've kept the tradition and are celebrating our 20th white elephant party this year.
• I think planning ahead is the one big secret to hosting a party.

In December 2005, the second Christmas my husband and I were married, we thought it'd be fun to have a few friends over for a white elephant party. The idea was a classic one, and the ambiance was as simple as you'd expect for a pair of 22-year-old newlywed hosts.

About a dozen of our friends gathered at our condo for an exchange of ridiculous presents, a pan of boxed-mix brownies, and a few two liters of soda (complete with requisite red Solo cups).

We all ended up laughing so hard over gifts that the next year, we decided to do it again, and then again, and then again. This December marks our 20^th white elephant party.

We gather with 50 people

What began as a handful of new college grads "adulting" has evolved into a 50-person dinner event people tell us they look forward to all year long. Though we've classed things up with a fancy menu and a bigger, more tastefully decorated house, our gifting rule remains the same: bring the worst, funniest gift you can find. I've had this year's gift picked out for months, and no I'm not telling what it is.

Putting on such a large holiday gathering for two decades has taught me a few things about gracious hosting. My goal every year is to create a white elephant party that's fun and memorable — but doesn't take over my entire December. Though I still get a bit tense on the day of the event, I always end the evening feeling like my emotional cup is full. Here are some of my top tips for lower-stress holiday entertaining.

I always plan ahead

It's a dead horse to beat, but I'm convinced planning ahead is the key to successful entertaining. If you want to host a party during the holiday season, set a date early and let invitees know. I mail paper invitations sometime in mid-November for a mid-to-late December party.

Planning is also critical for details like food and party activities. Outline a menu a few weeks in advance or pin down a caterer who'll do it for you. Then, use the weeks leading up to a party to make and freeze food or give potluck assignments. I also feel some kind of planned activity always enhances a party. Eating and chit-chatting are all well and good, but group games or giving silly gifts make an event truly distinctive.

I don't try to do it all myself

I'm a nutritionist and, admittedly, a bit of a perfectionist. In other words, it's tough for me to hand over the cooking reins to others. But I find I'm far less stressed when I don't do it all myself. My secret to feeding 50 people is a combination of homemade and purchased items. I'll snag a catered tray of Middle Eastern or Italian fare from a local restaurant, then supplement it with complementary homemade sides and desserts.

I love mixing groups of friends

Worried that folks won't get along because of their politics or personalities? That's OK. Your friends are grown-ups. Trust them to be civil to each other. And this year in particular, don't be afraid to make a statement at the start of a party to the effect of "no politics tonight."

I've personally witnessed that bringing different types together in a social setting often helps people humanize those "on the other side." Friends from different corners of my life have become real friends due to our annual white elephant. Make your home a space for people to come together to have fun despite their differences. Everyone will be better for it.

I enjoy what I've created

My favorite thing about our 20 years of white elephant parties isn't the decadent cheesecake I always make or even the hilarious-to-the-point-of-legend gifts.

It's knowing that my husband and I have created memories of fun and friendship for the ones we love. Our party is the Christmas gift I give to our friends every year.

It delights me every bit as much as I hope it delights them. In your own holiday entertaining, take a moment to appreciate the beauty of bringing people together to celebrate the season. I promise it's worth it.

• US Navy submarines are key to countering China's naval expansion in the Indo-Pacific.
• China's military expansion includes a large navy, posing a threat to US naval dominance.
• US submarines, despite challenges, maintain an edge with advanced capabilities and strategic roles.

The threat of a conflict with China has risen tremendously over the years. Beijing is undergoing some of the largest military expansion and modernization efforts since World War II, building a formidable arsenal of missiles able to threaten surface ships and massive naval force, but the US Navy still has the means to sink Beijing's dreams of supremacy in the Indo-Pacific.

The US is looking to solutions like anti-ship missiles, but a key answer to China's expanding surface and logistics fleet that could number over 700 ships in a conflict is submarines.

Hunt and Sink

The US Navy would play a leading role in a potential conflict with China in the Indo-Pacific. This region's vast maritime domain is ideal for naval and air operations.

China understands that, and Beijing has been investing heavily in its navy, the largest in the world according to the Pentagon. China has built three aircraft carriers with plans for more, possibly nuclear-capable flattops, new amphibious assault ships, and increasingly capable destroyers.

Where there are surface warships, there is an opportunity for submarines, and undersea capabilities are an area where the US maintains a clear edge over China, even as it strengthens its force and invests in anti-submarine warfare solutions.

An important role for the US submarine force in a conflict would be to hunt and sink Chinese warships and logistical vessels. Sailing routes around Taiwan and in the South China Sea would potentially be ideal hunting grounds for stealthy submarines like those operated by the US Navy.

In a war game conducted last year by the Center for Strategic and International Studies simulating an intense fight over Taiwan, the think tank found that "submarines were able to enter the Chinese defensive zone and wreak havoc with the Chinese fleet," but it also found the number of subs available was insufficient, indicating a need to prioritize these capabilities.

Attack submarines can be deadly for enemy shipping and change the course of a war. The Falklands War between Argentina and the United Kingdom in 1982 is a perfect recent example of the potential of submarines in a state-on-state conflict.

During the war, the Argentine Navy transported men and weapon systems to the islands, creating a lifeline with mainland Argentina about 400 miles away. The Royal Navy went to war 8,000 miles away with six submarines leading the way, and they enforced an exclusion zone around the islands.

When the need arose, HMS Conqueror, a nuclear-powered attack submarine, sunk the ARA General Belgrano battlecruiser, one of the largest warships in the Argentine fleet. The shock of the sinking and the potential for further attacks forced the Argentine Navy to withdraw from the area, thus allowing the British ground forces to land unopposed.

Similarly, US submarines could help disrupt or destroy a Chinese amphibious force heading to Taiwan and limit the movements of the Chinese navy across the theater of operations.

Submarines aren't unstoppable, though. Advances in anti-submarine warfare have made submarines increasingly vulnerable. For China's navy, ASW has been a growing priority to counter the American sub threat. Additionally, uncrewed undersea vehicles can also pose a threat and help detect prowling subs, as can underwater sensor systems like the US operates and China has looked to as added security.

They can't stay under indefinitely without support. Munitions resupply — US subs are powered by nuclear force, meaning they don't have to refuel — is another challenge, especially in a high-intensity battlefield.

And the US faces challenges maintaining its undersea advantage. A key priority in the Navy's fiscal year 2025 budget proposal was investment in the submarine industrial base.

Submarine Fleet

The US Navy has the largest and most advanced submarine force in the world, with 71 vessels and a lot of variety. And given the challenges from China, much of that capability is in the Pacific.

The Navy's submarine fleet is comprised of attack, guided-missile, and ballistic-missile subs.

Attack subs are the staple of any submarine fleet. Their job is to find and sink enemy ships. The three classes of attack subs in the US fleet (Virginia, Los Angeles, and Seawolf) can do this by sailing stealthily underwater and firing torpedoes and cruise missiles. The Navy has 53 attack subs.

Guided-missile submarines support ground and naval forces by firing long-range munitions, but they can also sink enemy shipping via torpedoes. Each of the four Ohio-class guided-missile subs on the active fleet can pack over 150 Tomahawk cruise missiles.

Finally, ballistic-missile submarines make up America's maritime arm of the nuclear triad. The 14 Ohio-class ballistic missile submarines carry 20 Trident II ballistic missiles with nuclear warheads each. Although the subs also pack torpedoes like their attack and guided-missile siblings, the main mission of ballistic-missile subs is to rain down destruction in the event of a nuclear conflict.

• American Airlines has grounded all of its US flights over a technical issue.
• "Your safety is our utmost priority," the airline said in a post on X.
• Bloomberg reported that the issue is impacting American's ability to calculate flight weight requirements.

American Airlines says it is experiencing technical issues impacting all of its US flights, as airlines gear up for the Christmas travel rush.

All the airline's flights across the US are currently grounded, the Federal Aviation Administration said in an advisory statement.

"Your safety is our utmost priority. Once rectified we'll get you safely in the air and where you need to be," the airline said in response to one user who posted on X about the disruption.

The issue is preventing the airline from calculating weight and balance requirements for its flights, Bloomberg reported Tuesday morning.

This is a developing story.

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