Latest News
See the latest news and get GPT analysis of articles
EU calls on tech firms to outline plans to tackle deepfakes amid election fears 2024-03-14 14:46:00+00:00 - The EU is calling on eight major tech companies including Google, Facebook and X to detail how they identify and tackle deepfake material amid concerns about the use of the technology to influence elections. In a world first, they will be using new laws on artificial intelligence to force companies to root out fake video, imagery and audio. Companies have until 5 April to show how they will deal with last-minute, high-impact fake news being dumped on social media, amid evidence that foreign agents, including those from Russia, are building up “sleeper” accounts to be deployed on the eve of elections. The EU is also launching a formal investigation into the Chinese online trader AliExpress, which has 104 million users in the bloc, over allegations that its marketplace was used to trade online in illegal products such as fake medicines and fake food, and failed to prevent children accessing pornographic material. The AliExpress investigation is the third official action taken under the Digital Services Act (DSA), one of a pair of online laws passed by the bloc last year alongside the Digital Markets Act (DMA). The EU has previously issued Twitter (now X) and TikTok with formal investigations under the law. On Thursday, it also announced it was investigating LinkedIn after reports from civil society groups accused the jobs social network of breaches over online advertising profiling. The eight companies that have been asked to provide more information on their ability to spot faked artificial intelligence (AI) content are Bing, Google Search, Facebook, Instagram, Snapchat, TikTok, YouTube, and X. Officials noted that not all AI content, which must be labelled as fabricated material under the new EU AI Act, was harmful but that they needed to signal to all tech companies that the new laws were now in place. Although there have been few major instances of such technology being used for political ends, X, came under particular fire for its failure to prevent the proliferation of a series of pornographic deepfakes of singer Taylor Swift earlier this year. The commission is calling in all the social media companies to show what they have in place to combat deepfakes. Such risks are not hypothetical. A report by the EU’s external action service in January showed how Russia had built up a network of fake accounts over a period of months to make them look legitimate just before last year’s general election in Spain. They were then activated on the eve of the ballot to share generated misinformation, including claims that there were bombs at polling stations. “We want to be prepared as best as possible. We want to push the platforms to tell us what they are doing to be as well prepared as possible for 11th-hour interventions distributed in preprepared channels at large scale,” an official said. The EU said it would be creating an “enforcement ecosystem” along with regulators in 27 member states to send messages out to all the platforms that fake material is now illegal under the Digital Services Act. skip past newsletter promotion Sign up to This is Europe Free weekly newsletter The most pressing stories and debates for Europeans – from identity to economics to the environment Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Under the DSA and the new AI Act companies will be required to have systems in place to “escalate” complaints about fake material. But officials said they were also keen to send a signal to smaller players and bedroom creators who can spread fake material at speed and at low cost through the large platforms. Initially announced in November 2023, the investigation into AliExpress is specifically over the measures it has taken to comply with obligations related to risk assessments and mitigation measures to protect consumers online. The DSA’s sister law, the DMA, has also risen in prominence this month. The DMA’s rules regarding “gatekeepers” – firms with significant power to warp digital markets – came into effect last week, requiring companies including Apple, Google and Meta to change how some of their largest platforms operate. Smartphone users in the EU will now be offered the ability to bypass the app stores and payment systems run by Apple and Google, while users of WhatsApp will shortly be able to send messages using the platform to other, compatible, apps. AliExpress said: “We respect all applicable rules and regulations in the markets where we operate. As a VLOP [very large online platform], we have been working with, and will continue to work with, the relevant authorities on making sure we comply with applicable standards and will continue to ensure that we will be able to meet the requirements of the DSA. AliExpress is committed to creating a safe and compliant marketplace for all consumers.” LinkedIn was approached for comment.
What Happens If Fisker Is Delisted? 2024-03-14 13:46:00+00:00 - It's rough out there in the electric vehicle (EV) industry lately, especially for start-up companies with dwindling cash, weak demand, and low production capacity. Not only are Fisker's (NYSE: FSR) losses piling up, so are the negative developments. Those recently culminated in a notice from the New York Stock Exchange (NYSE) that the company could be at risk of being delisted. Briefly, here is what has been going wrong with the young EV maker, and what it would mean for shareholders if it were to be delisted. When it rains, it pours To say Fisker is facing challenges would be a severe understatement. The company recently reported a fourth-quarter net loss of $463 million, while the cash and cash equivalents on its books dwindled to a meager $396 million. Issues with suppliers and other delays held its production to just over 10,000 vehicles in 2023. What's worse, the company's delivery infrastructure was so inefficient it couldn't even deliver half of those vehicles to consumers. Management is building out its network of dealer partners to try and improve delivery efficiency, but that strategy has yet to gain traction. Finally, to add to its headaches, the U.S. National Highway Traffic Safety Administration (NHTSA) has opened a preliminary evaluation for claims of unintended vehicle movement in 2023 Fisker Ocean vehicles. All of these issues culminated in management admitting that it "expects to conclude there is substantial doubt about [Fisker's] ability to continue as a going concern" when its annual financial statements for the year ended December 31, 2023, are filed with the SEC." Potential delisting In February, Fisker received a non-compliance notice from the NYSE because its stock price had closed below $1 per share for 30 consecutive trading days. To be clear, Fisker management intends to keep the stock listed on the exchange, and is currently exploring strategies and options to get back into compliance with its requirements. Story continues One option would be a reverse stock split. This is when a company replaces all the shares investors currently hold with a smaller number of new shares that have a proportionally higher price so that shareholders' stakes keep their prior value. This reduces the total number of shares outstanding, but leaves the company's market cap unchanged. For example, for Fisker, a 4-for-1 reverse split would reduce its outstanding share count by three-quarters and quadruple the price of the new shares from $0.34 to $1.36. That would push the share price above the $1 delisting threshold. Now, even if Fisker doesn't get back into compliance, rest assured that shares of Fisker won't just disappear -- they will simply shift to being traded in the over-the-counter (OTC) market. That said, typically, delisted stocks tend to decline in value significantly for a number of reasons. Trading OTC means lower trading volume as institutional investors tend to avoid stocks that aren't on major exchanges. Also, demand for the company's shares will typically decline as delisting is usually viewed as a signal of financial distress and a harbinger of potential bankruptcy. What it all means If you're a Fisker investor, you will still own your shares of the company even if it's delisted, although you'll likely have a more difficult time selling them. Considering that the stock would likely decline in value after being delisted, and the other issues mentioned, most investors would be wise to sell a stock before it gets delisted. That said, investors should also feel confident that Fisker management will find a way to get the stock back into compliance with NYSE rules. That would be a better option for the company -- being delisted would be another headache that Fisker won't want to deal with right now. Should you invest $1,000 in Fisker right now? Before you buy stock in Fisker, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Fisker wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of March 11, 2024 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. What Happens If Fisker Is Delisted? was originally published by The Motley Fool
Wish Signs Satirical YouTubers Zac Alsop and Grandpa Ray to Front its Fashion Category - ContextLogic (NASDAQ:WISH) 2024-03-14 10:26:00+00:00 - Loading... Loading... SAN FRANCISCO, March 14, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish ) WISH, one of the world's largest mobile ecommerce platforms, today announced it has signed satirical YouTubers Zac Alsop and Grandpa Ray to be the face of its fashion category in a campaign that will run from March through to May 2024. The deal has been secured one year on from the serial pranksters faking their way to the top of 2023's London Fashion Week by dressing ‘Grandpa Ray' in a range of outfits styled from everyday household items - including slippers, googly eyes, inflatables, mini umbrellas - all bought exclusively from Wish. The prank, which was the brainchild of YouTuber Zac Alsop , led to the tongue-in-cheek Wish looks being featured in high-end fashion magazines and across London Fashion Week's social media pages. This year, the duo are back and have been tasked with creating a ream of fresh content that pokes fun at the luxury fashion industry in a lighthearted, comical way. Armed with knee pads, inflatable jackets, washing up gloves, skipping ropes and tennis balls, Zac and Grandpa Ray have created a whole new set of looks designed to give the big fashion houses a run for their money. The three month campaign will run across Wish's Instagram, Facebook and TikTok channels, and will be supported in-app through Grandpa Ray's curated collection of goodies - Ray's Picks - which is live on Wish now. Use the promo code ZACALSOP5 to get an additional 5% off until May 31st, 2024. "Luxury fashion memes have long provided comic relief for an industry that often takes itself far too seriously," said Jackie Gulliver, VP of Marketing at Wish. "Zac Alsop and Grandpa Ray are masters of satirical content and they're also fans of Wish, so a tie-up was a natural next step." "Wish is all about bringing fun and entertainment to the shopping experience, so we're excited to be working with content creators who are pushing creative boundaries to entertain." For more information about Wish, visit www.wish.com. About Wish Founded in 2010 and headquartered in San Francisco, Wish is one of the largest global ecommerce platforms, connecting millions of value-conscious consumers in over 60 countries to thousands of merchants around the world. Wish combines technology and data science capabilities and an innovative discovery-based mobile shopping experience to create a highly-visual, entertaining, and personalized shopping experience for its users. For more information about the company or to download the Wish mobile app, visit Wish mobile app , visit www.wish.com or follow @Wish on Facebook , Instagram and TikTok or @WishShopping on Twitter and YouTube . Media contact: Carys Comerford-Green, Wish press@wish.com Forward-Looking Statements This news release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding Wish's outlook; priorities; strategic direction; promotional partnerships with YouTube influencers, including Zac Alsop, and the impact and effectiveness of related campaigns, including the availability of Ray's Picks; business operations; quotes by Zac Alsop and other YouTube influencers; quotes by management; and growth initiatives. In some cases, forward-looking statements can be identified by terms such as "anticipates," "believes," "could," "estimates," "expects," "foresees," "forecasts," "guidance," "intends" "goals," "may," "might," "outlook," "plans," "potential," "predicts," "projects," "seeks," "should," "targets," "will," "would" or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect Wish's results is included in its filings with the Securities and Exchange Commission ("SEC"), including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and future reports that Wish may file with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by Wish in this news release speaks only as of the day on which Wish makes it. Wish assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ce45aad-4947-40dc-86b6-d786f3c4dea1
Oil giant Shell waters down its near-term emission cuts in strategy update 2024-03-14 10:18:00+00:00 - British oil giant Shell on Thursday announced plans to moderate its near-term carbon emissions cuts, while maintaining its pledge to become a net-zero company by the middle of the century. In its latest energy transition strategy update, the oil and gas major said it is now aiming to reduce its net carbon intensity on the third-party use of products it sells by 15% to 20% by 2030, compared with a previous target of 20%. Shell said it had also dropped its goal of a 45% reduction by 2035, citing "uncertainty in the pace of change in the energy transition." The net carbon intensity targets are measured against a baseline of emissions in 2016. "Our focus on value has led to a strategic shift in our power business towards select markets and segments," Shell CEO Wael Sawan said in a statement. "As a result, we expect lower growth in sales of power overall. We have updated our net carbon intensity target to reflect that change." Shell's update comes as European energy majors continue to tweak their plans in the transition to clean-energy technologies. Last year, British rival BP said it was targeting a 20% to 30% emissions cut by the end of the decade, compared to a previous commitment to a 35% to 40% trim. BP, which is also planning to become a net-zero company by 2050, said at the time that it needed to keep investing in oil and gas to meet global demand.
TikTok Ban Could Take Out 'Billions Of Dollars' Out Of Creators' Pockets And Put Over 300K American Jobs 'At Risk', Says CEO 2024-03-14 10:16:00+00:00 - Loading... Loading... TikTok CEO Shou Zi Chew has shot off a warning that banning the social media platform in the U.S. will have disastrous consequences for creators as well as small businesses. What Happened: In a new video posted immediately after the U.S. House of Representatives voted overwhelmingly in favor of the TikTok ban bill, Chew said this could threaten "more than 300,000 jobs" in the country. The proposed bill is now headed to the Senate and will require TikTok to be either sold by its Chinese owner, the Beijing-based ByteDance Ltd., or be banned in the U.S. Chew's video is aimed at creators and small businesses operating on the platform. It states that the TikTok ban would directly threaten their pockets. See Also: Apple, Tesla ‘Most Likely To Be Affected’ If China Claps Back After TikTok Crackdown, Says Expert: ‘I Think For Sure There Would Be Retaliation’ "Our platform matters to the small business owners who rely on TikTok to make ends meet. To the teachers who inspire millions of students to learn, and to everyone who discovers and finds joy on TikTok." However, Chew disguised his vehement opposition to the TikTok ban as a fight for these creators and small businesses. "We will not stop fighting and advocating for you, and we will continue to do all we can, including exercising our legal rights, to protect this amazing platform we have built with you." "We believe we can overcome this together." Chew also encouraged users to share their stories with not only their friends and family but also with Senators as he seeks to build pressure on the U.S. government to decide against the TikTok ban. "Protect your constitutional rights. Make your voices heard." Loading... Loading... Why It Matters: The proposed TikTok ban has seen a wide range of opinions from tech personalities like Elon Musk, Mark Cuban, analysts Gene Munster and Dan Ives, among others. Former President Donald Trump, who wanted to ban TikTok during his first term, has now walked back on his stance. He instead targeted Meta Platforms Inc.'s Mark Zuckerberg. “If you get rid of TikTok, Facebook and Zuckerschmuck will double their business,” Trump said in a post on Truth Social. Munster echoed Trump's sentiments, saying it would be a "small amount of good news" for Meta. “I don’t want Facebook, who cheated in the last Election, doing better. They are a true Enemy of the People!” Musk termed the TikTok ban proposal as a "serious concern." Avril Haines, the Director of National Intelligence, has raised concerns that China could use TikTok to influence the upcoming 2024 U.S. elections. Check out more of Benzinga’s Consumer Tech coverage by following this link. Read Next: Elon Musk Rebrands Another Part Of X, Ditches ‘Trust’ For Just ‘Safety:’ ‘Euphemism For Censorship’ Photo courtesy: Shutterstock
Ross Gerber's Wake-Up Call For Tesla: 'Investors Need To Face Reality' As The 'Market Is Finally Revaluing' - Tesla (NASDAQ:TSLA) 2024-03-14 10:14:00+00:00 - Loading... Loading... Ross Gerber has recently raised questions about the current strategy of Tesla Inc. TSLA, highlighting the company’s high valuation and stagnant growth. What Happened: Gerber took to X on Wednesday to express his concerns about Tesla’s current situation over a series of posts. He criticized the company’s strategy, which restricts their sales to no more than 2 million cars per year, and expressed concern about the lack of advertising and the amount of misinformation surrounding electric vehicles. “Tesla investors need to face reality,” he wrote. Gerber also discussed the impact of energy prices on inflation and questioned Tesla’s profitability. While reiterating his appreciation for Tesla and its products, he reminded us that the stock market is assessing its $3 valuation. “Now keep in mind I love tesla and its products but the stock market is the stock market. And the fundamental Tesla story has changed since Twitter and the market is finally revaluing tesla accordingly. I wish I could give you a more positive take,” he concluded. See Also: Elon Musk Says ‘Of Course’ After Russia Threatens US With Nuclear War If Statehood Threatened Why It Matters: Earlier this month, Wells Fargo downgraded Tesla’s stock from Equal Weight to Underweight, citing concerns about "disappointing deliveries & more price cuts." Loading... Loading... Wedbush analyst Dan Ives noted the pervasive bearish outlook on Tesla, but he also predicted a significant rebound for Tesla in the coming years. Adding to the downward pressure, a prominent Tesla investor announced his decision to short the stock, citing broader economic factors. As of Wednesday, Tesla’s stock closed at 168.6, a decrease of 0.52% from the previous close, as per Benzinga Pro. Read Next: Apple, Tesla ‘Most Likely To Be Affected’ If China Claps Back After TikTok Crackdown, Says Expert: ‘I Think For Sure There Would Be Retaliation’ Photo generated using Midjourney Engineered by Benzinga Neuro, Edited by Pooja Rajkumari The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
Automotive Headliner (OE) Market Expected to Reach USD 19.83 Billion by 2031, with a Growth Rate of 4.5% CAGR- Transparency Market Research, Inc. 2024-03-14 10:00:00+00:00 - Loading... Loading... Wilmington, Delaware, United States, March 14, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The forecasted market valuation of the global automotive headliner (OE) market by the end of 2031 is US$ 19.83 billion. The advancement of the market is subject to a CAGR of 4.5%. The previous market valuation measured by 2021 was US$ 12.77 billion. This market growth is subjected to various driving forces. The differentiation of products in terms of their capacities has become possible on OEM platforms. The life of existing automobile platforms has also been extended, increasing the demand for relevant products. Due to this, the dependency on OEMs increases, which creates a significant driving force for the market under consideration. Consumers' incomes have been increasing recently. This increased disposable income allows them to buy premium cars and other products. Subsequently, the demand for allied products like automotive headliners also increases. This increased demand for the product drives the market directly. Such a heavy force for the subject market proves to be the reason for the market's growth during the forecasted period. Download sample PDF copy of report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=39719 High-performance thermoplastics have gained popularity in the consumer market due to their durability. Consequently, this market segment has grown exponentially and is forecasted to grow substantially. It fuels the development of the subject market. Like the thermoplastic market segment, the fabric material market segment is also expected to grow. This helps the market increase as the cost of raw materials for automotive headliners reduces. As a result, significant market forces were observed for the subject market. Key Findings from the Market Report The global automotive headliner (OE) market can be segmented based on many factors. Based on the headliner substrate, the thermoplastic market segment increases the heat-dampening effect. Consequently, it generates more demand within the market. Based on the material, cars and trucks often use fabric headliners. The requirement for material is less, as compared to other materials, which adds value to the market segment. Hatchback category vehicles form an important market segment, which requires headlines on a mass level. With the help of conventional technology, headliner fabric is produced, which is still a demanded market segment. Regional Profile The rise in the automobile sector within Asia Pacific is the main reason for the market growth in the region mentioned above. It has been forecasted that Asia Pacific will hold about 39.12% of the market. Thus, it is one of the significant contributors to the market. European countries like Germany have excellent technological infrastructure and engineering expertise. This fuels the growth of the automobile sector within these countries. Therefore, Europe is another significant contributor to the subject market. Due to the technological development in North America, similar to Europe, it is also one of the key contributors to the market that fuels its growth. Key Developments in the Automotive Headliner Market In September 2017, Adient plc. acquired Futuris Group. It helped the said business in diversifying its area of operation. Grupo Antolin installed a new plant in Alabama, USA, in April 2018. This helped the organization to boost its production of automotive parts. Motus Integrated Technologies acquired Janesville Fiber Solutions in August 2019. Due to this strategic move, the enterprise expansion was possible. Competitive Landscape Various competitors within the market have cluttered the market. Adient plc. is one of these competitors famous for manufacturing commercial vehicle seats. It also produces foam seats for vehicles. Freudenberg Performance Materials operates in a diverse market of the textile sector, where it produces different knitted fabrics, foams, composites, etc. Harodite Industries operates mainly in the textile industry. However, it is known for its headliners and various other allied products. Key Players Adient plc. Atlas Roofing Corporation Freudenberg Performance Materials Grupo Antolin Harodite Industries Howa-Tramico IAC Group Industrialesusd S.p.A. Lear Corporation Motus Integrated Technologies SMS Auto Fabrics Sage Automotive Interiors Toray Plastics (America), Inc. Toyota Boshoku Corporation UGN Inc. Market Segmentation Headliner Substrate Thermoplastic Thermoset Material Type Fabric Foam-backed Suede Foam-backed Perforated Vinyl Synthetic-backed cloth Composite Technology Lighted Conventional Vehicle Type Passenger Vehicles Hatchback Sedan Utility Vehicles Light Commercial Vehicles Heavy Commercial Vehicles Region North America Europe Asia Pacific Middle East & Africa South America Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=39719<ype=S Loading... Loading... More Trending Reports by Transparency Market Research – EV Chargers Market - The global EV chargers market is projected to advance at a CAGR of 19.4% from 2022 to 2031 Autonomous Trains Market - The global autonomous trains market is projected to expand at a CAGR of 15.2% during the forecast period from 2022 to 2031 About Transparency Market Research Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact: Transparency Market Research Inc. CORPORATE HEADQUARTER DOWNTOWN, 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801 USA Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Website: https://www.transparencymarketresearch.com Email: sales@transparencymarketresearch.com Follow Us: LinkedIn | Twitter | Blog | YouTube
Top Social Media Influencer Launches her Line of Indoor Herb Garden Kits, Raes the Roots! 2024-03-14 09:54:00+00:00 - Loading... Loading... Trazia Rae (2.4 million total following) partners with industry leader Zagwear! NEW YORK, March 14, 2024 /PRNewswire/ -- Social Media star Trazia Rae has had her own garden for many years, both indoors and outdoors. After thousands of her community members asked her about her in-home garden, an idea was born. Trazia, who loves sharing her inspiring tips and tricks on so many different areas of living in a house, apartment, or even an RV, is launching her first ever, indoor herb garden kit, under her brand: Raes the Roots. Trazia is thrilled to finally be launching her line in partnership with her managers Evan Morganstein and Christina Brennan, and Global Merchandise Company Zagwear, who custom manufactures products for target markets. Trazia has always been a leader in the DIY space, and now she is taking it to a whole new level. "Gardening has always held a special place in my heart. There's no comparison to growing & enjoying your homegrown produce; from seed to plate in every bite" Says Trazia. This limited edition kit features a variety of herbs from Cilantro Seeds, to Lavender Seeds, and Rosemary Seeds, which are all ingredients she features in many of her food, drink, and haircare recipes. Previously, she has done national brand campaigns with companies such as ALDI, Pique, and Folgers, and has seen incredible success and engagement, contributing to her exponential follower growth over the past few years. Zagwear CEO Toby Zacks adds, "We are excited to partner with Trazia Rae on this project. She is an incredible person and social media star. We enjoy bringing products to market that represent her authenticity." This limited edition while supplies last line is sure to be a hit because it is sustainable, aesthetic, as well as designed to be easy and reusable, but also giving access to certain herbs even when they are not in season. People are always looking for products that make their lives easier, and save them money, and those are the exact benefits Trazia is providing. The product launches (insert date) and each jar is sold at $29.95, or you can bundle all 3 for $79.99 (not including shipping, handling, or taxes). This equates to being much less than you would spend constantly buying these herbs from your local grocery store, and much more freshness and flavor! The kit allows you to keep planting your favorite herbs, with no knowledge of gardening or even leaving your house. The best part is, that whether you forget to water, or over water, you're covered. This self-watering herb kit features a vintage-inspired mason jar outfitted with a passive hydroponic system known as "wicking," which brings water and nutrients up to the plant's roots. All you need to do is add water and set it by a sunny window! In Trazia's collection each seed is also paired with a different colored jar to ensure there is also no confusion when it comes time to use your herbs. The Cilantro Seeds are in an Emerald jar, whereas the jar for Lavender Seeds is Purple, and the Ice Green jar is Rosemary Seeds. It doesn't get better or easier than this. After years of running out of herbs just before cooking a meal, excess dollars spent at the grocery store, and trying to garden in the cold winter, Trazia knew she needed a solution, and one that would actually work long term. These Indoor Herb Garden Kits that solution, however, they are limited. At checkout customers will also receive a surprise, making their purchase even more special and meaningful. Be sure to run to https://raestheroots.com and get yours while supplies last! About Zagwear Zagwear is a creatively led, strategically driven merchandise and marketing execution agency that ignites business growth for the world's most ambitious companies and brands. Loading... Loading... With offices across North America, Europe, and Asia Pacific, Zagwear performs across a global landscape powered by innovation, technology, sustainability and flawless execution. Contact: Evan Morgenstein evan@celebexperts.com SOURCE CelebExperts
How Trader Joe's Mini Tote Bags and Stanley Cups Became so Popular 2024-03-14 09:47:01+00:00 - Trader Joe's mini tote bags are the new Stanley cups. Not in the sense that they're a thing you should put water in, which obviously would not work great with a canvas bag, but in the sense that they're the latest mundane item to suddenly become all the rage. They are the "must have" accessory of the season that is in no way even close to a "must," even if our hyperaccelerated consumer trend cycle makes it feel that way. Trader Joe's earlier this year released a limited-edition set of canvas bags that look like its normal-sized bags but are smaller. The bags, which cost $3 and are available in blue, yellow, red, and green, have become a hot commodity. TikTok videos show people descending on stores like packs of hungry wolves to get their hands on them. The media picked up on the fad, especially after a resale market for the bags surfaced. The grocery-store totes are listed for hundreds of dollars on eBay — though just because someone posts an asking price on the website doesn't mean anyone is actually paying it. (If you're considering spending $500 on a tiny tote bag from a discount grocery chain, stop it!) The hullabaloo is very silly. Nobody needs these tote bags. The Trader Joe's bags are cute, I guess? But they're not the second coming of Jesus, and chances are you have plenty of random totes inexplicably piled up at home. Plus, while canvas bags are marketed as eco-friendly, their proliferation is bad for the planet. Advertisement The mania over the bags is indicative of just how fast today's consumer fads can come and go. Sure, certain products becoming super popular overnight isn't a new phenomenon (see: Beanie Babies, Cabbage Patch Kids, Tickle Me Elmo). But don't be surprised if you find that TJ's tote bag at the bottom of your closet in six months, or dig the Stanley cup out from the back of your cupboard in a year and wonder when you last washed it. Our ravenous consumer culture and ability to instantaneously share in the phenomenon have us churning through trends at a breakneck pace. "With social media, it's a quick up, things go viral quickly, but they also die down pretty quickly," Charles Lindsey, an associate professor of marketing at the University of Buffalo, told me. The four typical stages of the product life cycle — introduction, growth, maturity, and decline — are expedited. The acceleration of cycles comes down to a combination of old factors with one factor that's newer: the internet. People have for centuries been interested in the novel; even if the bags are mundane, they're new. There's a scarcity aspect because they're part of a limited run — Trader Joe's says that it's surprised at how fast the bags sold and that more won't be available until late summer. Finally, they're affordable. Lindsey explained that consumers feel like the bags help them achieve a certain status — known in marketing as a product's "badge value" — without breaking the bank. "That's not really possible when it comes to other areas of life, having perhaps the best house or staying at the best hotel," Lindsey said. The fuel to the fire here is social media. Platforms like TikTok and Instagram can kick these microtrends into high gear. Ask someone who's not very online if they've heard about the Trader Joe's tote bags, and you'll probably get a "huh?" Valeria Penttinen, an assistant professor of marketing at Northern Illinois University, said social media especially influences younger consumers' behaviors, including their consumption patterns. She pointed to two key factors. First, there's the fear of missing out. "Seeing a new or limited product gain popularity online among influencers, friends, and acquaintances induces a sense of urgency in consumers," she said. "Not owning these products or experiencing these trends can evoke negative emotions, such as loneliness and exclusion." Second is the opportunity to share online. People want to show off that they got the product, which in turn makes it seem desirable to whoever's watching. "By acquiring hyped products or experiences and sharing them on social media, consumers signal status and belonging to others," she said. "Given the desire to belong, can we blame consumers for falling into these behaviors promoted on social media?" Maybe the weirdest thing, though, is just how quotidian the latest viral items are: a bag, a cup. But it's also the nature of the modern beast. LL Bean bags that could be monogrammed became popular in 2022. Yeti and Hydro Flask walked so Stanley could run. There's no one solid answer for why these things take off. They become status symbols, they seem to give a nod to sustainability, and they're relatively inexpensive and easy-ish to attain. We're social creatures — we want to belong, and we want what others have. We also see consumption as entertainment, and obsessing over these things is something to do. "Functional products now in the context of our culture are used as fashion items," said Jaehee Jung, a professor of fashion and apparel studies at the University of Delaware. "It's almost that people are bored with traditional fashion goods." Advertisement If you got a coveted Trader Joe's mini tote bag, congratulations. May it live up to all your hopes and dreams. Chances are, however, that you soon won't feel as excited about it as you do right now. But don't worry! It won't be long until TikTok gets everyone riled up about some other random product. "When you actually have it, you get bored. That's why people move on to another item," Jung said. "It's going to be a continuous cycle. The next product maybe we don't know, but we'll hear about it sooner rather than later." Emily Stewart is a senior correspondent at Business Insider, writing about business and the economy.
John Lewis returns to profit but pays no staff bonus; bitcoin hits new high – business live 2024-03-14 09:46:00+00:00 - 28m ago 09.36 GMT Housing buyer enquiries, listings improve, says Rics Buyer inquiries have risen for a second month in the UK housing market and listings also improved, according to surveyors and estate agents. The latest monthly survey from the Royal Institution of Chartered Surveyors said the near-term outlook is still cautious, in part due to the suspicion that the recent easing in mortgage rates is likely to stall as the timing and speed of interest rate cuts remain uncertain. New buyer enquiries stayed positive for the second successive month (+6% net balance – the number of surveyors who reported higher enquiries minus those saying they fell), showing a continued upwards trend in buyer demand. Most regions across the UK have shown a recovery in buyer interest over the last two months. Agreed sales were flat in February (-3% net balance) and although this is less positive than in January, it still signals a stronger trend in sales than for most of the last 12 months, when the average net balance was -22%. Looking ahead, the sales expectations for the near term are positive, and sales activity is expected to gain further momentum over the coming year (net balance +42%). Across all UK regions, sales are expected to pick up over the longer-term. There was a solid rise being reported in new instructions to sell. The latest net balance of +21% is the strongest reading since October 2020, in contrast to the negative picture throughout 2023. Average stock levels on estate agents books now sit at 42 properties, the highest since February 2021, an there was also an increase in market appraisals over the month compared to the same period last year. View image in fullscreen Signs of life were seen in the UK housing market, Swanage, Dorset. Photograph: Geoffrey Swaine/REX/Shutterstock House prices still point to a downward trend across the UK as a whole, but this is stabilising with the February figure the least negative since October 2022. In London, the turnaround in prices is slightly more pronounced. Looking ahead, a net balance of +36% of respondents across England and Wales now envisage house prices returning to growth over the next 12 months. In the lettings market, tenant demand continues to rise but at a slower pace than previously. At the same time, though, landlord instructions are still dwindling, meaning rents are expected to move higher over the coming months, albeit at a slower rate. Simon Rubinsohn, chief economist at RICS, said: The February RICS survey provides some grounds for encouragement around the sales market with not just buyer interest staying positive for the second successive month but also the uplift in new instructions to agents. Whether the increase in stock coming back to the market will be sustained is likely to be a critical factor in explaining how things play out over the balance of the year especially with new build likely to remain constrained. Significantly, the rise in the number of appraisals taking place points in the right direction. And the government will be hoping that this trend is given a boost by the change to capital gains tax announced in the budget. Meanwhile, there are signs that the relentless upward trend in private rents is losing momentum but fresh demand is still comfortably outstripping supply in this area which suggests there is unlikely to any significant relief for tenants. Indeed, feedback from respondents to the survey continue to highlight the challenges in the sector resulting from a whole host of measures introduced in recent years. Share 1h ago 09.03 GMT Here is our full story on Shell. The energy company Shell has watered down one of its climate ambitions as it prepares to keep its oil production stable while growing its liquified natural gas business. The company used its latest energy transition strategy to warn that it may slow the pace of its emissions reductions this decade, saying that it now wants to reduce the carbon emissions intensity of the energy it sells by 15-20% by 2030, compared with its previous target of 20%. The target is measured against 2016. The updated target will enable Shell to slow the pace of its emissions reductions in a decade that climate scientists have warned is crucial in averting a climate catastrophe. The oil company has also promised to cut emissions from producing oil and gas – but it will continue to keep its oil production stable while growing its liquified natural gas business, meaning overall emissions on an absolute basis could continue to rise. Shell warns it may slow emissions reduction during crucial climate decade Read more Share Updated at 09.46 GMT 1h ago 08.36 GMT Nearly 5,000 UK chain stores closed last year – 14 a day In other retail news, almost 5,000 more chain stores were left empty last year – a rate of about 14 closures a day – as high streets were hurt by the failure of Wilko and the retreat of banks and pubs. Pharmacies were the biggest loser with 787 chain outlets disappearing – although many of these were Lloyds outlets which were taken over by independents. Next in line were pubs with a net 722 closing, as Wetherspoon’s and Stonegate, the owner of the Slug and Lettuce brand, closed venues. The figures from the Local Data Company for the advisory firm PricewaterhouseCoopers showed the rate of net closures was up by a third from 3,627, but far short of the post-pandemic peak of more than 10,000 in 2021. The figures do not include the many thousands of independent outlets trading in the UK. Nearly 5,000 UK chain stores closed last year at rate of 14 a day Read more Share 2h ago 08.30 GMT Review into August air traffic control meltdown finds ‘lack of pre-planning’ An independent review into the August bank holiday air traffic control meltdown that caused chaos for nearly 750,000 passengers has highlighted a “significant lack of pre-planning”. Flights were grounded across UK airports on 28 August after National Air Traffic Services (Nats) suffered a technical glitch while processing a flight plan. An interim report from an inquiry, published by the regulator, the Civil Aviation Authority, found there does not appear to have been “any multi-agency rehearsal of the management of an incident of this nature and scale”. These rehearsals are “best practice” and “regularly conducted in other sectors”, the inquiry panel said. The report said: The panel expects to recommend that the CAA should review and lead such multiagency planning. This is especially important, as some relationships between aviation sector stakeholders appear to be adversarial. This is not to the benefit of passengers, especially in a crisis situation such as this incident. It is clear there is a significant lack of pre-planning and co-ordination for major events and incidents that targets the alleviation and remediation of major incidents. At the time, a technical report from Nats blamed an “extremely rare set of circumstances” when a single flight plan with confusing waypoint data brought its bespoke software system to a halt on 28 August. An error triggered by the plan – which was correctly submitted by an incoming airline – forced the system to stop processing flight plans automatically, leaving controllers to handle operations manually. Many affected passengers were required to pay up front for alternative flights, food and accommodation, and submitted claims to airlines for reimbursement, even though airlines are legally required to provide these. The inquiry panel described the financial cost to passengers as “very considerable”, but noted that the “stress and anxiety” was “at least as serious”. Some travellers were stranded overseas for several days because of the number of flight cancellations. Review into UK air traffic control failure finds ‘lack of pre-planning’ Read more Share Updated at 08.34 GMT 2h ago 08.22 GMT Robyn Duffy, senior analyst for consumer markets at the consulting firm RSM UK, said: John Lewis is back in the black, but there are hard yards to travel before the retailer can confidently hail a return to form. Divisionally, the food arm of the business Waitrose is performing well after recovering from last year’s availability issues, but needs a cash injection to really compete with its rivals. As for John Lewis, the theme is ‘loafers, not sofas’ with consumers spending more on themselves rather than their homes. Despite being one of Britain’s best-known brands, John Lewis has struggled to stay relevant in recent years. A fast-moving economic environment has meant changing consumer habits have got the better of the business as the brand seemed to be missing the mark, whilst direct competitors Next and Marks & Spencer have prospered. As an employee-owned business that has failed to pay bonuses for several years, and with competitors seeing strong growth, the pressure is now on for new leadership to bring positive change. New CEO Nish Kankiwala has announced a ‘back-to-basics’ approach and plans to put retail back at the heart of John Lewis. Noise around the proposed housing and financial services plays have quieted for now, both interesting ideas but in a challenging retail environment a return to core values is needed. Only a few years ago John Lewis was the go-to retailer for the middle classes as it delivered quality at the best possible price. Returning to core values alongside investment in technology mirrors the fundamentals from other high street success stories and should help the business further improve margin. Share 2h ago 08.20 GMT Overall, John Lewis gained 1 million new customers last year, taking the total to 22.6 million (including 13.4 million at the John Lewis department stores). But Yanmei Tang, analyst at Third Bridge, said: The department store industry continues to struggle amid a cost-of-living crisis. John Lewis, with its significant reliance on home sales for revenue, may face even greater challenges ahead. The persistently sluggish housing market is unlikely to provide any relief. John Lewis also faces stiff competition from online giants like Amazon, as well as newcomers such as M&S and Next. They need to maintain its differentiation in assortment and keep real exclusivity of some of the brands. Expectations are for more store closures as they adjust their footprint, with increased investment in key locations. Despite this, John Lewis’ strong online presence means that while store closures may occur, sales are likely to shift online rather than being lost entirely. Margins are being squeezed by rising labour wages and input costs. John Lewis faces the challenge of maintaining its value proposition without simply raising consumer prices. View image in fullscreen A John Lewis store in London. Photograph: John Walton/PA Share Updated at 08.38 GMT 2h ago 08.12 GMT Here is our full story on John Lewis bouncing back to profit. The staff-owned retailer, which employs about 74,000 people – known as “partners” – said that after “careful consideration” it would not pay its staff an annual bonus for the third time in four years. It said that instead, “at this point in our transformation, [a sustainable business] is best served by investing in our retail businesses and in partners’ base pay.” It plans to refurbish 80 Waitrose stores and open new supermarkets in some areas while investing in technology to improve the John Lewis website and customer service for shoppers in stores. John Lewis bounces back to profit but no bonus for workers again Read more The company said it was “entering a year of significant investment” with £542m planned to be spent – up 70% on a year before. The investment will also go towards “simplifying the way we work”, suggesting job cuts may be on the cards this year. The group is thought to be considering cutting up to 11,000 jobs over the next five years. Sharon White, the firm’s chair, said the return to profit came after making £88m of savings, mainly by better matching staff hours to need in Waitrose shops and also by cutting energy use and more automation in the John Lewis distribution network. Total sales, excluding VAT, rose by 2% to £10.8bn. At Waitrose supermarkets, sales rose by 5%. However, sales at the John Lewis department stores fell by 4% to £4.8bn, despite inflation of more than 5% last year. The company said it had recorded weak sales of homeware and tech but sales of fashion, including beauty products, were up. Beauty sales were up by 4% on strong sellers such as men’s tailoring – up by 48% – and lingerie, up by 8%. Share 2h ago 07.58 GMT Shell warns it may slow emissions reduction during crucial climate decade Jillian Ambrose Shell has warned that it may slow the pace of its emissions reductions this decade as it prepares to keep its oil production stable while growing its liquified natural gas (LNG) business. The oil giant used its latest energy transition strategy to water down a promise to reduce the carbon emissions intensity of the energy it sells by 20% by 2030 versus the 2016 baseline. The updated target gives a range of between 15% -20% over the same period, which allow Shell to slow the pace of its emissions reductions in a decade which climate scientists have warned is crucial in averting a climate catastrophe. The oil company has also promised to cut emissions from producing oil and gas – but it will continue to keep its oil production stable while growing its LNG business, meaning overall emissions on an absolute basis could continue to rise. Wael Sawan, Shell’s chief executive, said: A balanced energy transition, which Shell supports, is one that maintains secure and affordable energy supplies, while the world builds the clean energy system of the future.” Billions of people depend on energy and hundreds of millions still hope to have access to it. Energy is vital for lives everywhere. Last month Shell revealed an annual profit of more than $28bn (£22bn) for 2023, one of its most profitable years on record, as green activists staged a protest outside the company’s London headquarters. Sawan was paid a total package of £7.9m last year, the group’s annual report showed. He took over from Ben van Beurden at the start of 2023, who was paid more – £9.7m in 2022. View image in fullscreen Shell CEO Wael Sawan attends a panel during Abu Dhabi International Progressive Energy Congress, in October. Photograph: Amr Alfiky/Reuters Share Updated at 09.02 GMT 2h ago 07.49 GMT John Lewis boss dismisses speculation about Waitrose split Sharon White, the chair of John Lewis, has been on the radio 4 Today programme talking about the results. She said: We’ve returned to profit, and that’s strength across both brands. If you look at the last year, actually customer numbers have grown. She defended the company’s decision not to pay a staff bonus for the second year running. The great thing about the partnership, and we are the biggest employee-owned business in the UK, is that we can take a long term view. We are really prioritising ensuring that we invest in customers but also investing in pay for partners so this year, we are investing £160m in pay, which is a record level. Q: There is growing speculation about a possible separation between John Lewis and Waitrose, it is time for the partnership to consider that? No, I disagree. What the results of the last year show is that the plan is working. And the brands are stronger together. We’ve got so many customers who shop across the two, love both; and the fact that we’re back to profit, the fact that customer numbers are growing, debt is down, we’ve got the balance sheet and the firepower now to invest, record levels over the next year. View image in fullscreen John Lewis chair Sharon White appearing on the BBC 1 current affairs programme on 10 March. Photograph: Jeff Overs/BBC/PA Share Updated at 07.54 GMT
Dollar Tree seems to finally be admitting defeat on Family Dollar 2024-03-14 09:38:21+00:00 - Dollar Tree said it will close nearly 1,000 Family Dollar stores — some closures are imminent. Analysts say the chain has been a nightmare acquisition for Dollar Tree. It acquired the company in 2015 and has since made moves to revitalize it. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement When Dollar Tree announced it would acquire Family Dollar nearly 10 years ago, its then-CEO Bob Sasser described it as a "transformational opportunity." "With the acquisition of Family Dollar Stores, Dollar Tree will become a leading discount retailer in North America," he said. A decade on, Sasser's rosy prediction has failed to become a reality. Analysts have described Family Dollar as the problem child of Dollar Tree and say it's generally been a drag on company earnings. On Tuesday, Dollar Tree announced the closure of nearly 1,000 Family Dollar locations over the next few years. Advertisement GlobalData Retail analyst Neil Saunders told Business Insider this was "the coup de grâce" in its "botched acquisition" of the Family Dollar chain, suggesting that its moment of reckoning has come. Family Dollar stocks a wide assortment of grocery goods. Business Insider/Mary Hanbury The problem child When Dollar Tree acquired Family Dollar in 2015, it was clear that some work would be required to improve the chain, but experts say it likely underestimated the extent of the improvements needed. "At the time, the main issues were with poor store locations — which is hard to understand unless you are in the weeds of the business — and a lack of operational discipline within the supply chain," Saunders told BI. While Dollar Tree has had some success in refreshing Family Dollar's stores, improving its price points, and introducing more private-label goods to its assortment, it hasn't been enough, he said. Advertisement "Family Dollar remains a laggard in the value segment. Its core shoppers are not particularly loyal and tend to use it out of convenience more than anything else," he added. Plus, it's clear that supply chain issues and messy stores still plague the business. In 2022, Family Dollar was forced to close several stores temporarily and permanently shut down a distribution center after federal investigators found a rat infestation at the facility. This ultimately led to it paying a $42 million fine. While store closures won't bring success, Saunders says, they help reduce losses; 1,000 closures translates to about 12% of its total store count. Advertisement And the closures will likely be celebrated by investors. UBS analysts recently estimated in a note to clients that the chain could generate $100 million in improved operating profits by closing or converting the bottom 10% of its stores.
Ambition Got Me My Dream Job. Then It Nearly Killed Me. 2024-03-14 09:34:01+00:00 - One muggy night in the summer of 2021, I found myself livestreaming a panic attack on Instagram. I was tired of doomscrolling through pandemic news and thought I'd take my mind off it by practicing my promotional spiel for my newly launched mental-health newsletter. It proved to be a bad idea. As viewers trickled in, I noticed the ominous hum of anxiety in my chest that I've grown familiar with over years of living with generalized anxiety disorder. Within seconds I was spiraling, sweating, and struggling to breathe — but I kept the camera on. "This is what a panic attack looks like, folks," I stammered. As the haze slowly lifted, I felt ashamed. What was I thinking, being so pathetic in front of strangers? Why didn't I just stop? Then someone commented, "Hearing you speak right now is bliss!" The flutter of heart emojis on my screen consoled me. Advertisement It also dawned on me that my unfiltered performance had inadvertently served my original plan: building my brand as an "authentic" and "vulnerable" mental-health storyteller to attract more readers to my newsletter. It's still not easy for me to admit it, but that night I used my pain to feed my professional ambition. In a previous job, burnout nearly killed me, and I vowed to never let ambition swallow me again. Then came the pandemic. The media startup I was working at shut down, and my 15-year career imploded overnight. In a desperate attempt to cobble together an income, I started writing a newsletter based on my lifelong experience with multiple mental illnesses: anxiety, depression, episodes of hypomania, and obsessive-compulsive disorder. Three years later, the newsletter continues to be my main livelihood. It has allowed me to spread awareness about mental illness, become part of a powerful global advocacy network, and access coveted career opportunities, including a fellowship at Oxford. In the process, ambition has come barging back into my life. I've repeatedly succumbed to the urge to do more — hawk my work more aggressively, reel in more subscribers, create more impact — despite a voice in my head warning me of the danger of sliding back into a dark space, reminding me that more will never be enough. There's a fine line between the motivation needed to build a successful career and the uncontrolled ambition that ends in burnout. As I unpacked this predicament in therapy, I began to wonder: How did ambition become such a force in our world? At what point does it turn on us? And is there a way out? In the ancient world, ambition was seen as a curse. The Roman philosophers Cicero and Seneca denounced it as a "malady" that preyed on "the greatest souls," as William Casey King wrote in his book "Ambition, A History: From Vice to Virtue." For centuries the desire for rank, fame, or power was abhorred as a "plague" and a "canker on the soul." To be ambitious was to be a threat to order. During the age of colonialism, ambition underwent a radical makeover as Western imperialists shrewdly created "incentives to encourage potential emigrants to undertake colonization," King wrote. Ambition was channeled toward civilizing the "uncivilized" and became a virtue, even as it legitimized oppression to devastating effect. It isn't difficult to trace those roots to the rise of extractive capitalism: The ambitious entrepreneur sets out to "make the world a better place," a pursuit that paves the way for self-actualization, power, and wealth — and frequently leaves people and the planet as collateral damage. Winners don't quit. Keep calm and carry on. What's driving many people back to the grind isn't ambition. It's survival. Granted, ambition has also driven people throughout history to challenge oppressive systems, but the "onwards and upwards" narrative erases the reality that an individual's capacity for achieving success is shaped by factors far beyond their control. In 2018, across the world's richest countries, only about half of 15-year-olds from households of low socioeconomic status said they expected to complete any kind of higher education, compared with more than 80% from high-status households who said the same. Children whose parents hold a college degree or the equivalent are 45 percentage points more likely to graduate from college than children whose parents earned less than a high-school degree or the equivalent. They're also more likely to be in good health and have more disposable income. Elsewhere, researchers have found that children growing up in households reporting economic hardship are likely to perform worse in school, report having worse mental health, experience greater social isolation, and engage in more risky behavior relative to peers. It took a pandemic to blow holes in the cult of ambition. In 2021 and 2022, almost 100 million American workers left their jobs. Many who remained quiet quit, resolving to do no more than the bare minimum. The New York Times declared it the "age of anti-ambition." Time magazine announced, "Ambition is out." "A bigger paycheck? I'd rather watch the sunset!" The Guardian said. Advertisement The Great Resignation gave way to the Big Stay: Amid brutal mass layoffs and the ballooning cost of living, workers returned to hustling. In one recent survey of Americans, nearly half the respondents said they lived from paycheck to paycheck throughout the year. Over a third said they had less than $100 in their savings accounts. What's driving many people back to the grind isn't ambition. It's survival. No wonder we can't let go of the hustle. We simply don't have the choice. I was born in the early '80s to a lower-middle-class family in a small industrial town in the east of India. It was India before the free market. Coca-Cola had been thrown out of the country, and color TVs were as exotic as flying saucers. My parents had survived extreme poverty before joining working-class occupations. I learned early in life that ambition wasn't just a personal trait; my family's salvation depended on it. Kids of our generation were raised to be devotees of upward mobility, usually by pursuing an engineering or medical degree. But I wanted to become a writer, which was seen as a recipe for starvation. My father was scared that I was heading for a hard life like he'd had, and for a couple of years we barely talked. But when I aced my high-school exams, my parents had a change of heart and decided to send me to India's most prestigious college to study English literature. They broke their backs so I could become the first person in my family to leave home and set foot in mythical New Delhi. This was 2001 — exactly a decade into the liberalization of the Indian economy. Optimism was in the air. Malls and mobile phones were springing up everywhere, and Coke had come back. Ambition had leapt out of family conversations and turned into a national mission. Obscure terms like "GDP growth" were suddenly common as the country embraced upward mobility, encouraging the government to go into the next elections under the slogan "India Shining." (It lost the elections, but that's a different story.) My ambition had helped me outrun the script I'd inherited, but at a hellish price. My college was the very cradle of ambition. My classmates were the children of ministers and bureaucrats — people who had made it. I couldn't relate to their exuberance and began hating everything about myself: my small-town accent, my unsculpted body, my unfashionable clothes, my ignorance of genteel etiquette. What started as culture shock metastasized into depression (though I didn't have a name for it at the time). I felt lonely and lost in a world that had no patience for moping, but I learned to mask my feelings and blend in. I maintained a sparkling academic record while throwing myself into college clubs and societies. Few people had any clue that I was also routinely self-harming. For a few years after earning my master's degree, I took whatever job paid decently so I could send money home. It was only after my family was financially stable that I joined the profession where my heart lay: journalism. I toiled hard and progressed rapidly to senior roles. I traveled the world and told important stories while pulling 16-hour days in the name of passion, expertly covering up the torment within that never left me. Advertisement And then one day, I snapped. Burnout and depression squeezed me like a ketchup sachet. I locked myself in a dark room, drowning in a cesspit of self-loathing and sheer fatigue. It took a brush with suicidality for me to finally seek clinical care. My ambition had helped me outrun the script I'd inherited, but at a hellish price. I don't blame ambition for all my troubles. As a cishet, upper-caste, English-speaking man with an elite education, I have been able to follow my ambition thanks to my enormous privilege. But I've also seen how allowing ambition to take over your life can mess with your sense of who you really are. Take that midnight panic-attack broadcast. As a mental-health writer, I'm critical of predatory social-media platforms. But as a creator, I share my deeply personal struggles on these platforms because it has become my selling point. I often ask myself: Do I (over)share because I want to break taboos, or because it feeds my need for validation and helps me make a living? Is turning my illness into material for my work therapeutic? Or does it deliver me into the arms of the same toxic productivity culture that I rail against in my writing? The tension frequently pushes me into a tortured place. It doesn't help that I'm always wary of a relapse of my hypomania, a condition characterized by abnormal energy with an exaggerated sense of self-confidence and creative ambition, often followed by exhaustion, overwhelm, and depression. It has become an untenable cycle that leaves me fantasizing about permanently breaking up with ambition. There's plenty of research suggesting ambition can take a destructive turn. Chasing extrinsic goals, such as power and money, is a risk factor for depression. Unregulated ambition that can be satiated only by constant external validation is also sometimes associated with narcissistic personality disorder. My therapist assures me I don't fit that pathology (yet), but I've learned to be mindful of how ambition can stem from deep inner wounds. Gabor Maté, an expert on addiction and trauma, says people who run themselves ragged in their professional lives are often acting out a childhood message that they're not good enough just as they are. They grow up needing to constantly prove they're worthy of love and attention. Maté's theory has detractors. But other research has found that early-childhood adversity can dictate career choices, especially for people in "helping professions," including healthcare, social work, and criminal justice. Some who venture into these careers are motivated by a desire to rescue others from the pain they themselves endured, even if it means putting themselves in harm's way. In his career construction theory, which offers a framework to explain why we choose the work we do, the psychologist Mark L. Savickas offers a striking insight: People seek to actively master what they passively suffer. There's also research linking ambition and "relative deprivation," the feeling that you've been treated unjustly compared with others, causing frustration, anger, and resentment. If you perceive yourself as overqualified for your job, you could be more vulnerable to relative deprivation, which could drive you to behave counterproductively and unethically at work. And the more ambitious you are, the greater your chance of falling into this negative loop. Advertisement Who in today's world can afford "inner growth" that warms the heart but leaves the kitchen cold? At the peak of the Great Resignation, I came across a guide to being ambitious without sacrificing your mental health. One of its key prescriptions was developing a growth mindset, or sidestepping external markers of success to find inner, personal growth. You could, for instance, learn a skill for the sake of it rather than for career gains. "Have you ever lost interest in a beloved hobby after turning it into a side hustle?" the guide asked, adding, "If psychological satisfaction is your goal, you may be better off without the extra cash." I want to write about mental health because I'm passionate about it. But I've come to depend on it for my livelihood, and that makes the work feel tainted. No wonder I've found my motivation sagging. Except who in today's world can afford "inner growth" that warms the heart but leaves the kitchen cold? If you're one of the tens of thousands of people who've recently been laid off, you aren't hustling to get ahead — you're hustling to find work that will keep the lights on. Last year, my wife and I made a decision. After decades of living in several of India's megalopolises, we moved to a small mountain town in the south of the country. I once scoffed at the idea of living close to nature as a first-world luxury, even though I experienced how urban pollution and noise can aggravate mental illness. But as parents to a 6-year-old, we decided to try a quieter, healthier lifestyle, even if it meant living far from regular employment opportunities, dipping into our savings, and paring down our expenses. In the mountains, there's no dust and noise. The internet is fickle, but for the first time in years I feel connected with my neighbors. My relationship with ambition is healing: I still go on Instagram and tell my story, but I've discovered that filming myself while looking out at the hills is far less likely to trigger a panic attack.
This 31-year-old spent $20,000 to travel after he was laid off 2024-03-14 09:24:00+00:00 - Peter Lancaster in Argentina. Courtesy of Peter Lancaster Forget the "quarter-life crisis." These days, millennials are turning to the "quarter-life sabbatical." Amid the waves of mass layoffs, people are choosing to repurpose their unemployment into soul-searching, and many are extending their time away from the cubicle to travel the world. Peter Lancaster, 31, was laid off from his technology job in California in May last year. Although he was sad to leave a job he loved, it was finally an opportunity for him to take a real break and enjoy life a little. By the end of June, he sold most of his belongings, put the rest in storage, handed his cat to a friend and left for his first destination — Mexico City. For the next eight months, Peter traveled to eight different countries: Mexico, Colombia, Peru, Argentina, Guatemala, Japan, Ecuador and Brazil. He said he spent about $20,000 during that time. His plane tickets and transportation ended up being his highest expenses. While Colombia and Guatemala were the most affordable destinations, Argentina and the Galapagos Islands were the most expensive, he added. Here are six things he learned during his adventure abroad. Be flexible The biggest principle Peter stuck to while traveling overseas was staying flexible and knowing that plans can change along the way. About six months into his travels, Peter met and fell in love with his girlfriend Alejandra, or as he likes to call, his "pp" (short for "Peruvian Princess"). His initial plan was to stay in Peru for four days, but after meeting Alejandra, he extended it to six weeks. "I met her in Peru — in Cusco. I was doing laundry and she saw that I was struggling, so she helped me out and then we decided to get drinks," he told CNBC Make It. Peter and Alejandra taking a stroll in Argentina. Courtesy of Peter Lancaster "You think you would want to make an itinerary, but truthfully, your plan changes so much with who you meet," he said. "Be open minded to change your motive from seeing as much as possible to maybe just spending time with somebody for a bit." "It's a lot easier to be flexible when you have a 'to be determined' timeline," he added. Pack lightly "I never had more than a week's worth of clothes," he said. "Downside is that I had to find a laundry place, but upside is that you can move around so easily." For the first three weeks, he only traveled with a small backpack. Along the way, he was able to purchase items he needed. Carrying less allowed him to be more agile when plans inevitably changed. Be friendly After first landing in Mexico City, Peter began to be homesick. "I wanted to go home because I was like: 'oh, it's going to be a long journey,'" he said. "But then then I started making friends and got comfortable real quick." Peter Lancaster with his tour group in Guatemala. Courtesy of Peter Lancaster For most of the trip, he chose to stay in hostels as a way to save money, as well as to meet fellow travelers. "Just start talking to people," he said. "Everyone's really approachable and thinking the same thing." Travel smart When traveling around foreign countries, it is important to maintain a level of caution. "I think it's always good to just have a mentality that a lot of people might be trying to rip you off," Peter said. When making purchases or decisions, he suggests: "Take your time." If something is too good to be true, it probably is too good to be true. Peter Lancaster Traveler "Especially in a foreign country, use the buddy system," he said. Locals can usually tell if you are a foreigner, which can put you in a compromised position. So it's important to be always aware of your surroundings and the situation. Enjoy local cuisine "I don't understand people that like go travel and eat burgers and pizza," he said. "Going to McDonald's is more expensive than some of these local places." During his time abroad, Peter made it a point to enjoy the local cuisine, which added to his travel experience. More to life than work On Feb. 29, Peter returned to the United States feeling happy with everything he had experienced. "If I had an unlimited budget, I'd probably keep going, but I felt like I just I saw everything and I was ready to work," he said. "I feel content... it's just nice to have time off and have like a different routine than going to work," he said. Peter Lancaster at the Courtesy of Peter Lancaster
After 11 years as a digital nomad, living in 60 countries, I'm settling in Mexico. It fits my lifestyle and business goals. 2024-03-14 09:16:01+00:00 - Hannah Dixon became a virtual assistant in 2013 and has worked in 60 countries. Dixon plans to apply for permanent residency in Mexico, after her four-year residency expires. Being in a time zone that aligns with most of her US clients has been a game changer, Dixon says. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement This as-told-to essay is based on a conversation with Hannah Dixon, a 36-year-old virtual assistant coach, recruiter, and founder of The Virtual Excellence Academy, living in Mexico. It's been edited for length and clarity. In 2013, I started my digital nomad life, dove into entrepreneurship, and became a six-figure virtual assistant. My former partner, who worked online, set me on a path to learn everything I could about this career. It was an alluring path because it allowed me to continue to travel and make a living while doing so. This industry allowed me to live and work in more than 60 countries. While I loved traveling fast and seeing so many awesome things, key problems like disconnection from others made it challenging at times. After a while, I decided to slow down and started noticing the people and places that treated me well. Dixon dining in Bangkok. Courtesy of Hannah Dixon. I lived in Bangkok for two years, then spent some time in New York with family; in France with my stepmom; and in Budapest, Hungary, alone. In 2021, I moved to Guanajuato, Mexico. Advertisement Since moving to Guanajuato, it's become a good home base that serves me, my wife, and my dog well — and my business has grown tremendously. I tried to live in Austria In April 2020, right before the pandemic lockdown, I took one of the last trains from Budapest to Graz, Austria, knowing that things would change rapidly. A new love interest, my now wife, who's German, was getting her master's degree and living in Austria. I moved there because I didn't want to be alone. Dixon posing in front of Grüner See, a lake in Styria, Austria Courtesy of Hannah Dixon I'm American and British. As a UK citizen, I had the right to live and work in the eurozone, but once Brexit was finalized, this right was revoked. My wife and I married in 2021, and after applying for residence in Austria, I received a letter indicating that I had to leave. During the pandemic, Mexico was one of the few countries that kept its borders open. Friends, who were fellow digital nomads, suggested we consider moving to Guanajuato, Mexico. Advertisement Guanajuato welcomed me and my wife with open arms During our six-month tourist visa, Guanajuato equated to a level of ease and connection I hadn't experienced before. We quickly became part of an eclectic community that felt like a chosen family and experienced unprecedented hospitality from people of all ages and backgrounds. In 2022, my wife and I got a four-year temporary resident visa and officially became residents in Mexico — as opposed to long-stay tourists. We got our visas at the Mexican consulate in Kansas City, one of the breezier consulates. Dixon and wife Kim Gorchs, on a colorful street in Guanajuato, Mexico. Courtesy of Hannah Dixon Some consulates are known for long wait times and weeks of delay, but Kansas City processed us on the same day. I'd spent extended periods in Mexico before moving here, so not much came as a surprise about the process. But I learned that renting a place to live in Mexico is a million times easier once you're on the ground. There are signs with WhatsApp numbers on properties for rent everywhere that helped simplify things. The transition went smoothly, and I wouldn't change anything. Advertisement I also learned about the world of "fixers" There's a whole industry of people whose only job is to make immigrants' lives easier by helping with things like opening bank accounts, extending residency visas, buying a car, driving your pets cross country while you fly, etc. We spent around $290 for fixer support with renewing our residency visas, which included early morning pick-up services, an hour's drive to the National Institute of Migration, being on hand for our interview if we needed help, and driving us back home with our extensions in hand. Also, when we bought a car, we used what could be considered a fixer service. Since making this move, my business has grown tremendously This stability has allowed me to focus more intently on my business and spend more time learning and implementing growth strategies. Being in a time zone that closely aligns with most of my clients and collaborators in the US has been a game changer. I've been able to increase my frequency of launches, produce more social media content, and spend more time refining processes. Without the constant need to adapt to new environments, I've reclaimed a considerable amount of time and mental energy that was previously spent on life logistics like securing reliable wifi, finding suitable accommodations, etc. Advertisement Living here has encouraged me to embrace a more laidback lifestyle I've found it easy to strike up conversations with interesting strangers who turn into friends just from walking around town. Guanajuato is the kind of place where you ask a question in a local Facebook group, and by the end of the day, you have an invite to someone's birthday party. Dixon visiting the Pyramid of the Sun, in Teotihuacan, Mexico. Courtesy of Hannah Dixon This lifestyle gives me more downtime and rest, which keeps me mentally sharp. My schedule feels more flexible, which has helped me make smarter choices about investing my time. I've invested in personal growth, expanded my team, acquired more clients and students, and dedicated myself to spreading the word about my services. Living in the mountains and frequent visits to Mexico City and beaches provide the perfect balance for me. Mexico has a bit of everything. There are things I haven't liked so much Mexico isn't known for being quiet. There's lots of street noise and incessant dog barking. But the things I haven't liked so much are sacrifices I'm willing to make. Advertisement Dixon sitting outdoors with her dog in her lap in Mexico City. Courtesy of Hannah Dixon I find it challenging that, in some places, people have very different ideas on how to treat animals — specifically dogs. Many are undernourished and don't have any socialization. However, there are many great organizations in Mexico, like Amigos de los Animales, working hard to change attitudes through education programs. I also try to put a positive spin on these things. The noise can be annoying, but it's a reminder of the sense of community and life that happens outside the home here. Also, the animal issues are at times heartbreaking but create opportunities to be a part of the change. We have a home base to come back to that feels good For me and my wife, nothing is forever. We're content with our decision to be here, but we've also taken numerous trips during this time and are open to new experiences exploring different parts of the world. We're still on a temporary resident visa. After residing here for four years, we'll have the option to apply for permanent residency, which we intend to do. Advertisement We have no idea where the road will take us, but we're very content in the present and are thankful to have found a timely home in Mexico.
TikTok Turns to Creators to Fight Possible Ban 2024-03-14 09:08:05.671000+00:00 - Facing a possible ban in the United States, TikTok has scrambled to deploy perhaps its most powerful weapon: its creators. The hugely popular video service began recruiting dozens of creators at the end of last week, asking them to travel to Washington to fight a bill being debated in Congress. Under the proposal, TikTok’s Chinese owner, ByteDance, would need to sell the app or it would be blocked in the United States. Many of the creators have met with lawmakers and posted videos about their opposition to the bill with the hashtag #KeepTikTok, often with the irreverent humor the app is known for. “So old white people boomers we call Congress-people are trying to ban TikTok, and I’m not having it,” Giovanna González, a TikTok creator better known as @TheFirstGenMentor, posted in a video on Tuesday, with the U.S. Capitol visible in the distance behind her.
Biden is coming out in opposition to plans to sell US Steel to a Japanese company 2024-03-14 09:03:57+00:00 - WASHINGTON (AP) — President Joe Biden is coming out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan, saying in a statement to be released Thursday that the U.S. needs to “maintain strong American steel companies powered by American steel workers.” In a statement obtained in advance by The Associated Press, Biden adds: “U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.” Thursday’s announcement, coming as Biden is campaigning in the Midwest, could have ripples in his race against the GOP presumptive nominee, Donald Trump. The Democratic president has made the restoration of American manufacturing a cornerstone of his agenda as he seeks reelection, and he has the endorsements of the AFL-CIO and several other prominent unions. Nippon Steel announced in December that it planned to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. Shortly after the deal was announced, the White House indicated it would be under review by the secretive Committee on Foreign Investment in the United States. The government does not officially provide updates on the CFIUS review process. The Democratic president has a big megaphone to weigh in on the matter, but he is not intervening in the review process or formally blocking the deal, according to a person familiar with deliberations who insisted on anonymity to discuss the situation. Trump said earlier this year after meeting with the Teamsters union that he would stop the U.S. Steel acquisition: “I would block it. I think it’s a horrible thing, when Japan buys U.S. Steel. I would block it instantaneously.” Biden will travel on Thursday to Saginaw, Michigan, which was once home to multiple General Motors plants and where he hopes his backing from union workers can resonate with voters. The city is in a swing county that narrowly backed Trump in 2016 and then flipped to Biden in 2020, making it a crucial contest in this year’s presidential race. Biden has a close relationship with the United Steelworkers. He gave the union “personal assurances ” that he has their backs, according to a February statement by the union about Nippon Steel’s plans. U.S. Steel is headquartered in Pennsylvania, another key state in this year’s election. The United Steelworkers issued a statement last week after meeting with representatives from Nippon Steel that it had concerns about whether the company would honor existing labor agreements and about the company’s financial transparency, adding that there were “barriers” to closing a merger. The U.S. considers Japan to be one of its closest allies and a key partner in countering China’s ambitions and influence in Asia. Biden has visited the country twice as president and will host Japanese Prime Minister Fumio Kishida at the White House on April 10. But Nippon Steel’s connections to China have raised concerns within the administration. More than half the steel produced globally comes from China, according to the World Steel Association. India is the second-largest producer, followed by Japan and the United States. ___ AP writer Jill Colvin contributed to this report.
Help! Air Canada Ruined Our Trip to Ireland but Won’t Take the Blame. 2024-03-14 09:02:00.266000+00:00 - Dear Tripped Up, Last September, my husband and I left our kids with their grandparents and set off to Ireland. Our $2,132 itinerary took us from Minneapolis to Toronto to Dublin on tickets booked on United Airlines through Expedia but ultimately operated by Air Canada, a United partner. We had boarded our connecting flight in Toronto (and I was already dozing in my seat) when the captain announced an operator had crashed the jet bridge into the starboard engine. We were given hotel vouchers and told we would be rebooked for the next day. Checkout time came and went without a word, so we went to the airport and were told to call Air Canada customer service. An agent booked us a flight for that evening, and we printed out boarding passes at an airport kiosk. But when we tried to board, we were told the boarding passes were invalid. Eventually, we were offered two options for the next day: Fly to Dublin via Newark, or return to Minneapolis. We cut our losses and went home after staying the night in Toronto at a hotel. But United refunded us only $1,087, barely half of what we paid. Air Canada did reimburse us for the second hotel and other expenses, but we believe the airlines owe us not only a full refund, but also 400 Canadian each ($295 apiece) under Canadian law for denied boarding. Both refused. Can you help? Michelle, Edina, Minn. Dear Michelle, I found the 58-page dossier you sent along with your story to be quite convincing. (It also convinced me that either you or your husband is a lawyer, which turns out to be true.) I skipped over Expedia, since your trip had already started, and reached out to United and Air Canada — as you flew on an airline’s partner, it’s a code share arrangement. A spokeswoman for United, Erin Jankowski, quickly sent me a statement noting that the refund you received from United was as per Air Canada’s instructions and referred all other questions to it. Air Canada, on the other hand, took almost two weeks to get back to me, and its response was underwhelming.
One Big Reason Gen Z Is Still on Facebook: To Save Money 2024-03-14 09:01:02.140000+00:00 - In December, Ellicia Chiu and Cher Su had just a few boxes in tow when they moved into a walk-up apartment in New York’s Lower East Side neighborhood. Before their move, from Los Angeles, the two friends knew that they would need to furnish their new apartment with small kitchen appliances, décor and furniture. But instead of purchasing new items, they knew it would be more affordable to find secondhand items on Facebook Marketplace, the social network’s buy-and-sell service. “I only use Facebook for Marketplace,” said Ms. Chiu, 24, who added that she spent most of her social time on TikTok and Instagram, which is owned by Meta, Facebook’s parent company. For many 20-somethings who don’t have a lot of disposable income, Marketplace is a place to get deals on items they wouldn’t normally be able to afford. “As someone who’s in their young 20s, I want to have nicer things but I don’t have the financial means to get there yet,” said Ms. Chiu, who added that she preferred Marketplace over other sites because its interface was easy to use, making it easier to find deals on furniture.
Facial recognition tech is widespread now, but still might not recognize you 2024-03-14 09:00:01+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Facial recognition technology is everywhere, from your iPhone to candy vending machines to the TSA. But it has a problem: It might not recognize you. That's a problem that some gig workers for Walmart's Spark delivery service have faced, Business Insider reported last month. Since last fall, Spark has asked its drivers to periodically verify that they are who they say they are by taking three selfies through the app, which then compares the photos against the photo ID they have on file. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. But some drivers say the facial recognition check kicked them off the app after the identity check — even though they were using an account in their name. Advertisement It turns out that those kinds of experiences aren't unusual in the broader world of facial recognition. Moreover, they're especially common if you're a person of color. Facial recognition frequently misidentifies people of color MIT Media Lab researcher Joy Buolamwini found that facial recognition technology misidentified black women up to 35% of the time, the New York Times reported in 2018. White men, by contrast, were misidentified in just 1% of cases. The reason: AI models are disproportionately built using photos of white men. When fewer photos of people from other racial and gender groups are used, facial recognition tech is less accurate at identifying people of those backgrounds, the study said. A federal study in 2019 provided similar evidence, finding that Asian, African-American people, and women were much more likely to be falsely identified by the technology than white men. Advertisement And a 2022 report by the MIT Technology Review found that Uber's facial recognition feature — used for identity verification, similar to Spark — could have misidentified drivers in India, partly because AI models aren't as well-trained on South Asian faces as white ones. The report also suggested that a simple appearance change like growing a beard could prevent the tech from detecting someone's face. Facial recognition developers say mistakes are possible None of that appears to have stopped the tech from rolling out to new places. Major landlords have added the tech to office buildings as workers have returned to offices, for instance. Airline passengers can encounter facial recognition at multiple points in an airport, from the security line to customs and passport control, The New York Times reported in February. Advertisement Walmart worked with a company called Persona to add facial recognition to its Spark app. While Persona's website doesn't specifically mention trouble identifying people of color, it does acknowledge that the tech has pitfalls. "For example, someone's eyeglasses may fool the system into thinking it's a reflection on a screen, or a low-resolution photo may trick the system into thinking it's a digital replay," its website reads. "These shortcomings may increase the risk of false negatives during the verification process, which may result in legitimate users being denied verification," it continues. Persona and Walmart did not respond to BI's requests for information about the technology or partnership. The TSA and CBP did not respond to requests for comment from BI. A TSA spokesperson told the New York Times in February that halting biometric technology like facial recognition would "take us back years," but did not specifically address the racial disparity. Advertisement Retailers' attempts to use facial recognition to catch shoplifters haven't gone well. In some cases, it's possible to opt out of using facial recognition technology — and its high error rate. If getting on your next flight involves scanning your face instead of a boarding pass, for instance, the gate agent is supposed to offer you a manual check of your ID and pass instead, according to CBP. But sidestepping facial recognition often isn't possible, said Gideon Christian, a law professor at the University of Calgary who has written about the legal and societal aspects of facial recognition technology. He pointed to some retailers' decision to use the tech in their stores to catch shoplifters. In December, for instance, the FTC said that drugstore chain Rite Aid had improperly used facial recognition technology in "hundreds of stores" to the detriment of women and people of color. Rite Aid's use of facial recognition technology "left its customers facing humiliation and other harms, and its order violations put consumers' sensitive information at risk," Samuel Levine, the FTC's Bureau of Consumer Protection director, said at the time. Advertisement The FTC banned Rite Aid from using facial recognition technology in stores for five years as a result. Rite Aid accepted the settlement but disputed the FTC's allegations about how and where it used facial recognition — the company said it only tested the tech in "a limited number of stores," for instance. Facial recognition's racial bias is the same bias that black people already experience when they go shopping, Christian said. "You basically have facial recognition technology basically making the same baseless allegation, because the face matches with some other individual in the database and then triggers alerts," Christian said in an interview. Christian told BI that its lack of privacy and its accuracy issues should be enough reason to roll back its use. Advertisement "I do not think it's appropriate for us to violate the fundamental right of every person walking into a retail store just because we want to catch a few shoplifters," he said. Do you work for Walmart Spark, Instacart, DoorDash, or another gig delivery service and have a story idea to share? Reach out to abitter@businessinsider.com
TikTok bill that could lead to ban faces uphill climb in the Senate 2024-03-14 09:00:00+00:00 - Washington — A bill that could lead to a ban of TikTok in the U.S. sailed through the House with rapid speed on Wednesday, but is facing headwinds in the slower-moving Senate, where previous efforts to restrict the popular app have stalled. The House on Wednesday overwhelmingly passed the bill, known as the Protecting Americans from Foreign Adversary Controlled Applications Act, in a vote of 352 to 65. The legislation would require TikTok's parent company, the Beijing-based ByteDance, to sell TikTok within six months to maintain access to U.S. web-hosting services and app stores. The bipartisan legislation quickly gained momentum in the House, unanimously advancing out of the House Energy and Commerce Committee last week. But the bill has also faced a flood of backlash from TikTok's American users, as well as criticism from lawmakers who say it runs afoul of the First Amendment. Legislators on both sides of the aisle have long warned of the risks TikTok poses to national security, saying the Chinese government could use the short-form video app to spy on Americans, spread misinformation or sow division. "The problem is not TikTok or the videos," Sen. Marco Rubio of Florida, the top Republican on the Senate Intelligence Committee, said Monday during a hearing on worldwide threats. "The problem is the algorithm that powers it is controlled by a company in China that must do whatever the Chinese Communist Party tells them to do." Opponents of the bill say it could impose limits on free speech by taking away a platform that millions of Americans use to express themselves and get information, while also negatively impacting businesses and creators whose livelihoods rely on it. The White House wants the Senate to move quickly on the legislation. "We will look to the Senate to take swift action," White House press secretary Karine Jean-Pierre said, adding that the administration wants the bill to be "on the strongest possible legal footing." China weighed in on Thursday, according to Agence France-Presse, which quoted a spokesperson for Beijing's commerce ministry as saying, "The U.S. should truly respect the principles of a market economy and fair competition (and) stop unjustly suppressing foreign companies." The spokesperson added that China would "take all necessary measures to resolutely safeguard its legitimate rights and interests." And AFP reports that a Chinese foreign ministry spokesperson said, "When someone sees a good thing another person has and tries to take it for themself, this is entirely the logic of a bandit." The TikTok bill in the Senate Despite broad agreement about the risks, senators don't appear to be in a rush to send the House TikTok bill to President Biden, who has vowed to sign it. Sen. Kevin Cramer, a Republican from North Dakota, said he would vote for the legislation but predicted that the Senate is unlikely to take action soon. "It's hard for me to imagine that it'll be real fast. We don't do things fast. We're designed not to do things fast, so I would think months," he told reporters when asked about the timeline in the upper chamber. Sen. Rand Paul, a Kentucky Republican, denounced the "hysteria" around TikTok and said the bill is "inconsistent" with the First Amendment. His opposition means the Senate will have to spend valuable floor time on it. Majority Leader Chuck Schumer has been noncommittal about bringing it up for a vote. In a one-line statement after its passage in the House, the New York Democrat said the Senate "will review the legislation when it comes over from the House." Schumer also said this week he would consult with relevant committee leaders "to see what their views would be." In a major endorsement after the House vote, Sen. Mark Warner of Virginia, the Democratic chairman of the Senate Intelligence Committee, said the bill now has his support. He expressed concern earlier this week about singling out ByteDance and TikTok. Warner and Rubio, who discussed the issue on "Face the Nation" over the weekend, said in a statement Wednesday that they were "encouraged by today's strong bipartisan vote in the House of Representatives, and look forward to working together to get this bill passed through the Senate and signed into law." Sen. Maria Cantwell, a Washington Democrat, could determine its fate as the chair of the Senate Commerce Committee. A bipartisan bill known as the RESTRICT Act, which would have given Commerce Department authority to ban or restrict technology coming from U.S. adversaries, has been stuck in the mud since its referral to the committee last year. A statement from Cantwell on Wednesday suggested the House bill could end up going the same route. "I will be talking to my Senate and House colleagues to try to find a path forward that is constitutional and protects civil liberties," she said. Sen. Dick Durbin, an Illinois Democrat, said Tuesday he was concerned about the bill's constitutionality and hadn't reached a decision about whether TikTok should be banned. "I think it's time for them to make a clear break with China in terms of the ownership and management of this company," said Durbin, who leads the Senate Judiciary Committee. Overall, the Senate's reaction to the House bill has been mixed. Sen. John Kennedy, a Louisiana Republican, wants a classified briefing on the issue before making a decision, saying Wednesday, "I'm not there yet." Sen. Richard Blumenthal, a Connecticut Democrat, said "requiring divestment is absolutely well-merited." "The Chinese are collecting information, doing surveillance and making use of TikTok for their national security purposes, and we ought to resist it in a way that the House bill does," he said Tuesday. On Monday, Sen. John Cornyn said he was "not sure that this is the answer," but called TikTok "a serious national security problem." A spokesperson for the Texas Republican said Wednesday that some of his concerns were resolved with the version going to the Senate. Republican Sen. Josh Hawley of Missouri said Tuesday he would "absolutely" support it, but was doubtful it would get a floor vote. "I hope it'll get a vote on the Senate floor," he said. "But, as I have long predicted, it sounds to me now like it's not going to." A TikTok spokesperson said after the House vote that the company was "hopeful that the Senate will consider the facts, listen to their constituents, and realize the impact on the economy, 7 million small businesses, and the 170 million Americans who use our service." In a video Wednesday night, TikTok CEO Shou Zi Chew said the company will be "exercising our legal rights" and encouraged users to contact their senators "to protect your constitutional rights" and "make your voices heard." Alan He, Alejandro Alvarez and Sara Cook contributed reporting.