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Hello, I’m Matt Turner, Business Editor of Insider. Welcome to the Sunday edition of Insider Today. A compilation of some of the top articles.
Today’s agenda:
But first: Here are some of our recent award-winning journalism:
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Award-winning work
Mount Denali, Alaska.
Sherry Cassel/iStock/Getty Images Plus
The Insider won seven awards at last week’s New York Press Club Awards. Here we summarize some of the award-winning journalism.
RIP Metaverse
Ben Tobin
Just three years later the Metaverse died and ChatGPT killed the Metaverse.
It used to be the talk of the tech industry, writes Ed Zitron. However, the lack of a coherent vision for the product caused it to go downhill. And when the next big wave of excitement swept over the generative artificial intelligence industry, the fate of the Metaverse was decided.
Despite its short life and an ignominious death, the Metaverse offers us a clear indictment on the industry that produced it.
Read the Metaverse obituary.
very high rent
Rising house prices lead to increased rental demand.
Andriy Yalansky/Getty Images
At the beginning of the COVID-19 pandemic, rents fell sharply as people fled from crowded city centers. However, at about the same time as the drop, prices began to soar again.
Residents are now asking, “With so many people leaving, why is my rent still so high?” A new study has come up with a surprising answer: people are sick of living with each other.
Why rents are still high.
Also read:
Who will be Larry Fink’s successor?
BlackRock CEO Larry Fink
Toth Robinson/Getty Images, New York Time
Wall Street has long been fascinated by succession stories. The most pressing is investment giant BlackRock.
CEO Larry Fink, now 70, has the rare feat of leading the Wall Street behemoth he helped found.
Insiders see a group of about seven executives, including a few lesser-known names, as potential replacements.
Inside Blackrock’s Heir Story
Also read:
Microsoft leak
Microsoft CEO Satya Nadella
Justin Sullivan/Getty Images
An internal email from CEO Satya Nadella indicated that Microsoft plans to halt pay increases and cut bonus and stock-based compensation budgets.
In another leaked email, Microsoft’s chief human resources officer, Kathleen Hogan, instructed managers to give “special rewards” to fewer employees, saying that “employees in the middle We need more staff,” he added.
Read Hogan’s full email here.
Additionally, check out:
Quote of the week:
“It was an unmitigated disaster.”
Here are the details for this week’s top stories:
Curated by Matt Turner. Edited by Hallam Block and Lisa Ryan. contact: insidertoday@insider.com
