Archive for Sarah Jackson

Coinbase is reportedly testing out having employees rate each other in an app with a thumbs up or thumbs down after meetings and other interactions

Coinbase CEO Brian Armstrong
Coinbase CEO Brian Armstrong.
  • Coinbase is experimenting with having employees rate each other, The Information reported Monday.
  • Staff are reportedly asked to evaluate one another after meetings and other interactions based on how well they model 10 core values.
  • Employees can give their colleagues a thumbs up, thumbs down, or neutral review, the report says.

Coinbase is reportedly asking employees to rate each other after interactions as part of an app-based pilot program.

The cryptocurrency company has been piloting an app that collects employees' evaluations of their colleagues, including their managers, after meetings and other interactions, The Information reported Monday, citing two people with direct knowledge.

Known as Dot Collector, the app was invented by Ray Dalio's hedge fund, Bridgewater Associates, and has been in use by Coinbase's HR and IT teams since the first quarter of this year, according to The Information.

In the app, employees review how well their coworkers demonstrate 10 core values at Coinbase, including things like communication and "positive energy," per The Information. They can share their input in the form of a thumbs up, thumbs down, or neutral review.

Staffers at the cryptocurrency company can only see the ratings they receive, The Information reported, citing a person familiar with the pilot.

Coinbase did not immediately respond to a request for comment.

Bridgewater Associates famously has a similar employee rating system in place. In a TED conference in 2017, Dalio explained how all of the firm's employees had company-issued iPads with an app called Dots where they rated each other in real-time on more than 100 attributes on a scale of 1 to 10.

"My objective has been to have meaningful work and meaningful relationships with the people I work with, and I've learned that I couldn't have that unless I had that radical transparency and that algorithmic decision-making," Dalio said at the time.

Read the original article on Business Insider

A 2,000-foot glass-bottomed bridge said to be the longest in the world just opened in Vietnam — take a look at the pedestrian walkway, suspended high above a valley

people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
  • Vietnam just opened a 2,000-foot-long glass-bottomed bridge, said to be the longest in the world. 
  • Named Bach Long, the pedestrian bridge reportedly has three layers of 40mm, or roughly 1.5 inch, tempered glass.
  • Beneath is a sharp plummet of nearly 500 feet to the valley below. Take a look at the bridge sure to be a daredevil's next fascination.
If you're afraid of heights, the Bach Long bridge probably won't be your thing.
people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
For thrill-seekers, though, the destination is a welcome addition to a bucket list.
people take pictures on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The glass pedestrian bridge opened at the end of April.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
It's located in the Moc Chau district of Vietnam's northwestern Son La province.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Bach Long translates to "white dragon."
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The bridge measures 632 meters, or roughly 2,073 feet, in length.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The company behind it says it's the longest glass-bottomed bridge in the world.
aerial view of the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Guinness World Records officials will visit the bridge this month to determine if that's true or not.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Al Jazeera

The bridge stands 150 meters, or roughly 492 feet, above a lush valley between two mountains.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The daredevils who cross the bridge do so on three layers of 40mm, or roughly 1.5 inch, tempered glass.
people lie down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: South China Morning Post

Despite the thin nature of the glass, Bach Long can support roughly 500 people at a time, according to Hoang Manh Duy, a representative of Moc Chau.
people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Vietnam National Administration of Tourism

The company behind Bach Long said it put the bridge to the test by having heavy cars and trucks drive over it.
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: South China Morning Post

As an additional safety measure, traffic on the bridge will only flow in one direction.
a person stands on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Vietnam National Administration of Tourism

When the bridge opened Friday, its first visitors had mixed reactions.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Some were thrilled.
a woman takes a selfie on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Many posed for photos to capture the surreal experience.
people take pictures on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
"I think it's all great," one visitor told Al Jazeera. "Stepping on the bridge and looking down was scary at first, but if we continued confidently, it was very amazing."
people sit down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The visitor who shared these remarks is not pictured here.

Source: Al Jazeera

Others felt differently about the bridge.
a child clings to the railing on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
This child had perhaps the most relatable reaction.
a child lies down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Unveiling the bridge is one way Vietnam is trying to bring back tourism after the industry came to a standstill for much of the past two years due to COVID-19.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The country closed its borders to travelers in March 2020 and stopped issuances of tourist visas.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Around the start of the pandemic, Vietnam's tourism department estimated COVID-19 could cost the country $4 billion in lost tourism in just three months.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Business Insider

The country reopened its borders to international tourists this March, dropping its COVID-19 restrictions for foreign visitors.
a person walks on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
That means adventure-seekers from around the world can now behold the beauty — or terror — that is the Bach Long.
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Read the original article on Business Insider

A 2,000-foot glass-bottomed bridge said to be the longest in the world just opened in Vietnam — take a look at the pedestrian walkway, suspended high above a valley

people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
  • Vietnam just opened a 2,000-foot-long glass-bottomed bridge, said to be the longest in the world. 
  • Named Bach Long, the pedestrian bridge reportedly has three layers of 40mm, or roughly 1.5 inch, tempered glass.
  • Beneath is a sharp plummet of nearly 500 feet to the valley below. Take a look at the bridge sure to be a daredevil's next fascination.
If you're afraid of heights, the Bach Long bridge probably won't be your thing.
people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
For thrill-seekers, though, the destination is a welcome addition to a bucket list.
people take pictures on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The glass pedestrian bridge opened at the end of April.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
It's located in the Moc Chau district of Vietnam's northwestern Son La province.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Bach Long translates to "white dragon."
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The bridge measures 632 meters, or roughly 2,073 feet, in length.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The company behind it says it's the longest glass-bottomed bridge in the world.
aerial view of the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Guinness World Records officials will visit the bridge this month to determine if that's true or not.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Al Jazeera

The bridge stands 150 meters, or roughly 492 feet, above a lush valley between two mountains.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The daredevils who cross the bridge do so on three layers of 40mm, or roughly 1.5 inch, tempered glass.
people lie down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: South China Morning Post

Despite the thin nature of the glass, Bach Long can support roughly 500 people at a time, according to Hoang Manh Duy, a representative of Moc Chau.
people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Vietnam National Administration of Tourism

The company behind Bach Long said it put the bridge to the test by having heavy cars and trucks drive over it.
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: South China Morning Post

As an additional safety measure, traffic on the bridge will only flow in one direction.
a person stands on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Vietnam National Administration of Tourism

When the bridge opened Friday, its first visitors had mixed reactions.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Some were thrilled.
a woman takes a selfie on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Many posed for photos to capture the surreal experience.
people take pictures on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
"I think it's all great," one visitor told Al Jazeera. "Stepping on the bridge and looking down was scary at first, but if we continued confidently, it was very amazing."
people sit down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The visitor who shared these remarks is not pictured here.

Source: Al Jazeera

Others felt differently about the bridge.
a child clings to the railing on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
This child had perhaps the most relatable reaction.
a child lies down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Unveiling the bridge is one way Vietnam is trying to bring back tourism after the industry came to a standstill for much of the past two years due to COVID-19.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The country closed its borders to travelers in March 2020 and stopped issuances of tourist visas.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Around the start of the pandemic, Vietnam's tourism department estimated COVID-19 could cost the country $4 billion in lost tourism in just three months.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Business Insider

The country reopened its borders to international tourists this March, dropping its COVID-19 restrictions for foreign visitors.
a person walks on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
That means adventure-seekers from around the world can now behold the beauty — or terror — that is the Bach Long.
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Read the original article on Business Insider

A 2,000-foot glass-bottomed bridge said to be the longest in the world just opened in Vietnam — take a look at the pedestrian walkway, suspended high above a valley

people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
  • Vietnam just opened a 2,000-foot-long glass-bottomed bridge, said to be the longest in the world. 
  • Named Bach Long, the pedestrian bridge reportedly has three layers of 40mm, or roughly 1.5 inch, tempered glass.
  • Beneath is a sharp plummet of nearly 500 feet to the valley below. Take a look at the bridge sure to be a daredevil's next fascination.
If you're afraid of heights, the Bach Long bridge probably won't be your thing.
people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
For thrill-seekers, though, the destination is a welcome addition to a bucket list.
people take pictures on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The glass pedestrian bridge opened at the end of April.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
It's located in the Moc Chau district of Vietnam's northwestern Son La province.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Bach Long translates to "white dragon."
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The bridge measures 632 meters, or roughly 2,073 feet, in length.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The company behind it says it's the longest glass-bottomed bridge in the world.
aerial view of the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Guinness World Records officials will visit the bridge this month to determine if that's true or not.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Al Jazeera

The bridge stands 150 meters, or roughly 492 feet, above a lush valley between two mountains.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The daredevils who cross the bridge do so on three layers of 40mm, or roughly 1.5 inch, tempered glass.
people lie down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: South China Morning Post

Despite the thin nature of the glass, Bach Long can support roughly 500 people at a time, according to Hoang Manh Duy, a representative of Moc Chau.
people walk across the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Vietnam National Administration of Tourism

The company behind Bach Long said it put the bridge to the test by having heavy cars and trucks drive over it.
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: South China Morning Post

As an additional safety measure, traffic on the bridge will only flow in one direction.
a person stands on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Vietnam National Administration of Tourism

When the bridge opened Friday, its first visitors had mixed reactions.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Some were thrilled.
a woman takes a selfie on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Many posed for photos to capture the surreal experience.
people take pictures on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
"I think it's all great," one visitor told Al Jazeera. "Stepping on the bridge and looking down was scary at first, but if we continued confidently, it was very amazing."
people sit down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The visitor who shared these remarks is not pictured here.

Source: Al Jazeera

Others felt differently about the bridge.
a child clings to the railing on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
This child had perhaps the most relatable reaction.
a child lies down on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Unveiling the bridge is one way Vietnam is trying to bring back tourism after the industry came to a standstill for much of the past two years due to COVID-19.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
The country closed its borders to travelers in March 2020 and stopped issuances of tourist visas.
the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Around the start of the pandemic, Vietnam's tourism department estimated COVID-19 could cost the country $4 billion in lost tourism in just three months.
people stand on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province

Source: Business Insider

The country reopened its borders to international tourists this March, dropping its COVID-19 restrictions for foreign visitors.
a person walks on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
That means adventure-seekers from around the world can now behold the beauty — or terror — that is the Bach Long.
people walk on the Bach Long glass bridge in the Moc Chau district in Vietnam's Son La province
Read the original article on Business Insider

Elon Musk says it’s ‘very hard to give away money effectively’ if you care more about the outcomes than the optics of philanthropy

Elon Musk
Elon Musk on August 13, 2021 at a press event on the grounds of the Tesla Gigafactory near Berlin.
  • Elon Musk says he's not concerned getting recognition for donating money.
  • He says this makes philanthropy a challenge: "It is very hard to give away money effectively."
  • The Tesla and SpaceX CEO is the world's richest person, with a net worth of roughly $260 billion.

Elon Musk is the richest person in the world, but he says it's still hard to give away money to do good.

"When it comes to donations, I'd say it is very difficult to give away money effectively," Musk said in a recent conversation with Mathias Döpfner, the CEO of Insider's parent company, Axel Springer.

When asked about the goals of his foundation, Musk said he cares more about the outcomes, not optics, of philanthropy. This, he says, makes it harder for him to give away money "effectively."

"If you care about the reality of doing good and not the perception of doing good, then it is very hard to give away money effectively," he said. "I care about reality. Perception be damned."

Despite what he described as a challenge to philanthropic efforts, Musk said, "I'm always looking for ways to give away money that are effective," he continued.

The SpaceX and Tesla CEO brought up a number of social causes during the conversation.

"There's obviously environmental causes, there is education, especially science and engineering education," he said. "Pediatric healthcare. Hunger these days is more of a political and logistics problem than it is not having enough food. There is a lot of food. In the US and many countries, the issue is more obesity than it is hunger."

Musk also touched on the positive change he hopes SpaceX and Tesla will bring.

"I do want to emphasize that SpaceX and Tesla fundamentally intend to improve the quality of the future," he said. "Especially in terms of usefulness to humanity. Tesla by accelerating sustainable energy. And SpaceX by making multiplanetary intercourse possible. This is more than I can do myself."

Musk is one of the richest people in human history, with a net worth of roughly $260 billion. When asked how he felt about this, Musk said he thinks Russian President Vladimir Putin is "significantly richer than me."

Musk also discussed Putin and Russia's now-monthlong invasion of Ukraine at another point in the interview, saying, "We cannot let Putin take over Ukraine."

Read the original article on Business Insider

Elizabeth Holmes’ ex, Ramesh Balwani, pointed the finger back at her in his fraud trial, while prosecutors say they were ‘partners in everything, including their crimes’

Elizabeth Holmes, founder and former CEO of Theranos, arrives for motion hearing on Monday, November 4, 2019, at the U.S. District Court House inside Robert F. Peckham Federal Building in San Jose, California. And former Theranos COO Ramesh "Sunny' Balwani leaves the Robert F. Peckham U.S. Federal Court on June 28, 2019 in San Jose, California.
  • Elizabeth Holmes blamed her ex-business partner, Sunny" Balwani, in her fraud trial. Now, he's doing the same to her.
  • In Tuesday's opening statements, Balwani's attorneys emphasized, "Elizabeth Holmes, not Sunny, founded Theranos and built Theranos."
  • The prosecution, meanwhile, argued the two were "partners in everything, including their crimes."

Elizabeth Holmes' fraud trial may be over, but it looks like the Theranos founder is a focal point in another trial now underway.

Opening statements took place Tuesday in the fraud trial of Ramesh "Sunny" Balwani, who is Holmes' ex-boyfriend and Theranos' former president and COO.

Balwani's team pointed the finger at Holmes in their opening statement, just as Holmes deflected blame to Balwani and other Theranos employees in her trial.

"Elizabeth Holmes, not Sunny, founded Theranos and built Theranos," said Balwani's attorney, Steve Cazares, according to The Mercury News.

"Sunny Balwani did not start Theranos," he added, according to The New York Times. "He did not control Theranos."

For their part, the prosecution also touched on Holmes' conviction to lay the groundwork for their case.

"They were partners in everything, including their crimes," said Assistant US Attorney Robert Leach, according to the Mercury News. "The defendant and Holmes knew the rosy falsehoods that they were telling investors were contrary to the reality within Theranos."

The first witness of the trial also took the stand before court wrapped for the day. Theranos whistleblower Erika Cheung, a former lab worker at the company, began her testimony.

Cheung was also an early witness in Holmes' trial, where she testified Theranos machines frequently failed quality-control tests, so staffers had to cherry-pick data to remove outliers so they'd ultimately pass.

Cheung said in Holmes' trial that she raised concerns about Theranos with Balwani, who she says told her, "What makes you think you're qualified to make these calls?"

Balwani faces the same charges brought against Holmes — 10 counts of wire fraud and two counts of conspiracy to commit wire fraud. Holmes' trial concluded in January, when she was convicted on three counts of wire fraud and one count of conspiracy.

Read the original article on Business Insider

The International Energy Agency wants you to work from home to help curb oil demand and avoid a dangerous supply crunch

working from home laptop
  • Working from home could help curb oil use by hundreds of thousands of barrels per day, the IEA says.
  • The intergovernmental energy watchdog is suggesting remote work as one of 10 steps that could help stave off a dangerous oil supply shock.
  • Russia's invasion of Ukraine has led to lower supplies in oil markets with peak demand season just around the corner.

Remote work isn't just good for retaining employees; it could also help us curb our oil consumption by hundreds of thousands of barrels per day at a time when the world faces the risk of a disastrous supply shock.

The International Energy Agency said working from home is one of several ways countries can cut back on oil and help keep a dangerous supply crunch at bay. Russia's invasion of Ukraine has threatened the global oil supply not long before peak demand season is set to begin.

On Friday, the IEA laid out a 10-point plan to reduce oil use and help ease pain at the pump as gas prices soar to record heights. The intergovernmental agency said the plan would cut oil demand by 2.7 million barrels a day within four months, roughly equivalent to the oil demand of all of the cars in China, if it's fully carried out in advanced economies.

"As a result of Russia's appalling aggression against Ukraine, the world may well be facing its biggest oil supply shock in decades, with huge implications for our economies and societies," IEA Executive Director Fatih Birol said in a press release.

"IEA Member Countries have already stepped in to support the global economy with an initial release of millions of barrels of emergency oil stocks, but we can also take action on demand to avoid the risk of a crippling oil crunch," Birol added.

Besides working from home up to three days a week, which the agency said could produce oil savings of 500,000 barrels per day, other steps include reducing speed limits on highways, implementing "car-free Sundays" in cities, and making public transportation more affordable.

In addition, the IEA recommended carpooling more often, promoting efficient driving for freight trucks, using high-speed and night trains over planes, avoiding business air travel where possible, alternating private car access to roads in big cities, and supporting the adoption of electric vehicles.

Read the original article on Business Insider

Firefighting boats are headed to the Felicity Ace, the burning ship in the Atlantic Ocean carrying 4,000 luxury vehicles

Felicity Ace
The ship, Felicity Ace, which was traveling from Emden, Germany, where Volkswagen has a factory, to Davisville, in the U.S. state of Rhode Island, burns more than 100 km from the Azores islands, Portugal, February 18, 2022.
  • Firefighting boats were en route to the Felicity Ace, a burning ship carrying luxury vehicles, the WSJ reported Saturday.
  • The cargo ship caught fire near Portugal Wednesday while carrying 4,000 cars from Germany to the US.
  • In response to questions over whether it could sink, the parent company of its operator told WSJ the ship remains stable.

Help is on the way for a cargo ship burning at sea with thousands of luxury vehicles in tow.

On Saturday, firefighting boats were en route to the Felicity Ace. The first was expected to arrive Sunday, The Wall Street Journal reported.

The 60,000-ton cargo ship is carrying roughly 4,000 vehicles built by Germany's Volkswagen Group. It was traveling from Emden, Germany, where Volkswagen has a factory, to Davisville, Rhode Island, when it caught fire near Portugal on Wednesday. The Portuguese Navy evacuated all 22 crew members onboard.

A spokesperson for MOL Ship Management (Singapore) Pte. Ltd., which owns the company operating the Felicity Ace, told the Journal Saturday that the 650-foot ship is still burning but hasn't leaked any oil and remains stable with regards to concerns it could sink.

MOL told The Journal it expects the first of the vessels carrying firefighting equipment to the Felicity Ace to arrive Sunday from Gibraltar. A second firefighting boat will come Monday, and a salvage ship from Rotterdam, Netherlands, is expected to arrive on Wednesday or Thursday.

The cause of the fire is not yet clear.

"It will be months before we have completed an investigation and know what happened," a spokesman for MOL told the Journal.

In the US, the Volkswagen Group sells Volkswagen, Porsche, Audi, Lamborghini, Bentley, and Bugatti vehicles. A Porsche spokesperson previously confirmed to Insider that "a number" of Porsche cars are onboard the ship but said it was too early to know if any could be salvaged.

YouTuber and car enthusiast Matt Farah has said a New Jersey dealer has confirmed his vehicle, a 2022 Porsche 718 Boxster Spyder, is also among the cargo. Farah says the sports car was supposed to be delivered to him next week.

MOL and the Volkswagen Group didn't immediately respond to Insider's requests for comment.

Read the original article on Business Insider

New Peloton CEO Barry McCarthy denies reports that angry laid-off staffers crashed and cut short an all-hands meeting where he was introduced

A user watching an instructor on a Peloton bike.
  • Peloton founder John Foley stepped down as CEO this month, after the company laid off 2,800 workers.
  • CNBC previously reported that terminated staffers crashed an all-hands meeting introducing the new CEO, ultimately cutting it short.
  • In a NYT interview Saturday, new CEO Barry McCarthy refuted reports that the meeting was shut down early.

Peloton's new CEO Barry McCarthy denied reports that angry laid-off workers shut down the company all-hands meeting where he was introduced.

In an interview with The New York Times, McCarthy refuted claims that a recent internal meeting announcing him as new chief executive came to a halt when a contingent of terminated staffers allegedly showed up and shut it down, instead telling DealBook the gathering "didn't get cut short by the way."

McCarthy — who formerly served as CFO at both Spotify and Netflix — made the remark while discussing the difference between his management style and that of Peloton founder and former CEO, John Foley. McCarthy took over for Foley earlier this month, replacing the founder after several weeks of hardship for the company, including the firing of 2,800 employees as part of cost-cutting measures to combat slumping demand for its home fitness products. 

The new CEO told the New York Times that he disagrees with Foley's statements that Peloton employees are like family. 

"You'll never hear me say we're a family," McCarthy said. "We're a sports team, and we're trying to win the Super Bowl."

According to CNBC, which first reported on the crashing of the virtual hands-on meeting, three people familiar with the situation said laid-off and current Peloton workers blew up the chat with angry comments about the terminations and accused the company of mismanagement. 

"I'm selling all my Peloton apparel to pay my bills!!!" wrote one person, according to CNBC, citing messages it obtained.

"This is awfully tone deaf," another said, CNBC reported. 

McCarthy also said in the DealBook interview Saturday that Peloton had "spent money on things that they shouldn't have" and "got caught up in the vision thing at the expense of getting real."

Are you a customer or employee of Peloton with a story to share? Contact this reporter at [email protected] using a non-work device.

Read the original article on Business Insider

Meta agrees to pay $90 million to settle a lawsuit alleging Facebook kept tracking users after they logged off

Meta CEO, Mark Zuckerberg.
Meta CEO Mark Zuckerberg.
  • Meta will pay $90 million to settle a lawsuit alleging it kept tracking users after they logged off.
  • The 2012 suit said Facebook used plug-ins and cookies to track visits to third-party websites containing "like" buttons.
  • If approved, this would be one of the 10 biggest data privacy class action settlements ever.

Meta has agreed to pay $90 million to settle a decade-old lawsuit alleging Facebook kept tracking users' internet activity after they'd logged off of the platform.

The proposed settlement was filed late Monday and still requires court approval. If approved, it would be one of the 10 biggest data-privacy class-action settlements ever, according to the document.

The 2012 lawsuit alleges that, between April 2010 and September 2011, Facebook violated privacy and wiretapping laws by using plug-ins to store cookies tracking users' visits to third-party websites that contained "like" buttons. The social media site had users' permission to track them while they were logged in but promised to stop when they logged out.

Besides the $90 million sum, which would be distributed among affected users, the settlement would require that Facebook delete data improperly collected on users through the use of this practice.

Meta did not immediately respond to Insider's request for comment, but a spokesperson told Variety, "Reaching a settlement in this case, which is more than a decade old, is in the best interest of our community and our shareholders and we're glad to move past this issue." As part of the settlement, Meta denies any wrongdoing.

The lawsuit was dismissed in 2017 when a federal judge said the plaintiffs failed to show they had a reasonable expectation of privacy or that they suffered economic harm. In 2020, a federal appeals court revived the case, saying there is economic harm in such a situation. Facebook tried to have the Supreme Court take up the case, but it declined, allowing the federal appeals court's decision to stand.

Last year, Facebook agreed to pay $650 million to settle a separate privacy lawsuit, this one alleging the company's tagging feature violated an Illinois law prohibiting the collection of biometric data without prior notification and written consent. On Monday, Texas Attorney General Ken Paxton announced the state is suing Meta over Facebook's now-defunct facial recognition program.

Read the original article on Business Insider