Morgan Stanley’s training course to work with super-rich clients has a 40% first-time failure rate. Execs shared an example of a case study that caps the program off.
Each year, some 100 Morgan Stanley advisors take a course to earn the family wealth director title. The hardest part of the 150-hour program is a live case study. Morgan Stanley executives Alex Chester and David Bokman share what trips up advisors the most. Every year, approximately 100 Morgan Stanley advisors take an exam in…
Keith Rabois’ startup OpenStore is launching a new program to boost Shopify merchants who aren’t big enough to sell their stores yet
Keith Rabois’ OpenStore is launching a new accelerator program for Shopify merchants. A cohort of five merchants will be chosen to participate in a 10-week program with OpenStore. It’s the Shopify aggregator’s third offering to sellers. Keith Rabois’ Shopify aggregator startup, OpenStore, is launching a new offering for Shopify merchants. The new program, OpenStore Boost,…
Amazon built a data center empire in northern Virginia. Exclusive filings reveal it’s using as much energy as a major city.
Amazon is in the midst of $87 billion of data center development in Virginia. The company’s data centers in the state can consume about half the power of New York City. It’s the largest player in a fast-growing industry that could stress grids and speed the climate crisis. Amazon is in the midst of a…
A former BlackRock stock chief shares 5 stocks and one area of the bond market he likes right now as growing recessionary pressures threaten to spoil the S&P 500’s rally
Bob Doll thinks a mild recession will hit the US economy sometime in the near-to-mid future. But he still thinks there are opportunities to be found, especially in value names. Five stocks he likes in particular are CI, MCK, VLO, PSX, and ADBE. Bob Doll isn’t overly optimistic about the broader stock market’s upside potential…
A former lawyer has paid down $190,000 in student loans and can afford to cancel the remaining $20,000 balance now. He explains why it’s smarter to not pay the lump sum, and how he’s investing it instead.
Ian Group has paid down $190,000 of the $210,000 worth of student loans he accumulated. He could afford to pay off the $20,000 today, but it wouldn’t be the best use of his money. Since the interest rate on his student debt is so low, he’s better off investing the money he’d use to make…
3 pivots real-estate investors are making to maximize their cash flows in a tight, high-interest rate market, according to a loan manager
Suzanne Luther says the jump in mortgage rates has made cash flow tight. Investors are pivoting by shopping for different types of loans. They are also strategically buying homes near certain buildings and businesses. As of Tuesday, the 30-year fixed mortgage rate was 7.07%, and the refinance rate for the same term was 7.16%. Since…
ByteDance AI researchers say OpenAI now tries to hide that ChatGPT was trained on J.K. Rowling’s copyrighted Harry Potter books
Companies like OpenAI are under growing scrutiny over their use of copyrighted material. ChatGPT now attempts to avoid showing such work, new research found. Prompts about Harry Potter books have showed how common the use of copyrighted work is in LLMs. According to new research, ChatGPT is attempting to conceal the fact that it was…
Leaked document reveals ‘Maverick,’ a new Amazon AI security initiative led by Uber’s former CISO
Amazon’s security team has launched a new AI program called “Maverick.” The goal is to build automation tools for AI security and foster partnerships across the company. Amazon is doubling down on the generative AI space. Amazon has launched a new internal security program devoted to generative artificial intelligence, as the retail behemoth continues to bet…
Underwear brand Parade sold; CEO Cami Téllez tells staff she’s being pushed out
Gen Z underwear brand Parade has been sold to lingerie manufacturer Ariela & Associates International. Founder and CEO Cami Téllez told staffers via Slack that she’ll be forced to leave the company. Parade gained a cult following for its inclusivity and sustainability when it launched in 2019. Parade, a Gen Z favorite underwear startup, agreed…
