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The latest news from Business Insider

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    Boeing 717

    • The Boeing 717 is a slightly offbeat aircraft that went out of production in 2006.
    • Boeing chalked it up as a failure, a result of absorbing some McDonnell Douglas planes when it acquired the planemaker in the mid-1990s.
    • But the 100-seat 717-200 is now in serious demand, as carriers move away from regional jets.
    • I recently flew on a Delta Air Lines Boeing 717 from Newark to Detroit.

    I've flown on many big aircraft and plenty of small ones. I've flown on Boeings, Airbuses, and Embraers, Bombardiers and a host of more obscure names. 

    But until recently, I'd never set foot on a Boeing 717, a smaller aircraft that Boeing inherited when it bought McDonnell Douglas in 1995 for $13 billion.

    I tend to like really small jets, tolerate regional aircraft, richly enjoy big planes — and dislike the narrow-bodies that do most of the grunt work of hauling passengers around the US on domestic routes these days.

    The 717-200, in Delta livery, that I boarded last month for a flight to Detroit from Newark, NJ, was a mystery. I wasn't sure what I was strapping into.

    I figured out quickly what I was dealing with — and then settled back to enjoy the ride. Which was unexpectedly thrilling.

    FOLLOW US: On Facebook for more car and transportation content!

    The Boeing 717-200 is actually a rebranded McDonnell Douglas MD-95. Boeing acquired McDonnell in 1995 for $13 billion.

    Sadly, as Business Insider's Ben Zhang reported, "On May 23, 2006, Boeing delivered the last two 717-200 jetliners to customers at its Long Beach, California factory."

    "It marked the end of a program filled with promise but that had ultimately failed to capture the interest of airlines. Even Boeing's well-oiled sales operation could only manage to muster up 156 orders for the little 100-seat, short-haul-airliner."

    Despite being an apparent business failure with just 156 examples ever made, the 717 is now in high demand as a short-hauler, a 100-seater that can replace regional jets.

    "What is this plane?" I asked myself.

    See the rest of the story at Business Insider

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    saved by the bell

    If "Saved by the Bell" continues to be one of your all-time favorite '90s shows, you probably think you know everything about the antics of Zack Morris and the Bayside High gang. But the classic teen sitcom had plenty of guest stars that went on to become major celebrities, and you likely forgot they ever appeared on the show.

    Sure, everyone knows about Leah Remini’s character, Stacey Carosi, who stole Zack’s heart during their summer at the Malibu Sands Beach Club, but do you remember Milo Ventimiglia’s turn as a hospital volunteer looking for love in all the wrong places in a later episode?

    These are the 15 celebrity guest stars you might not remember from "Saved by the Bell," so grab those pencils before Mr. Dewey gives a surprise test on the first day of school.

    Leah Remini starred as tough talking Stacey Carosi, a love interest of Zack’s.

    These days, Leah Remini is known for her starring role in "King of Queens," but back in the early '90s, she played Stacey Carosi, who couldn’t resist the charms of the newly single Zack Morris after the two worked together at the Malibu Sands Beach Club the summer before senior year. Stacey was a no-nonsense New Yorker but eventually softened as she fell hard for Bayside’s signature blonde hunk.

    Carla Gugino played an early love interest for Zack in the middle school years

    Before the gang made it to high school, they inexplicably attended middle school together in Indianapolis, before everyone relocated to the sunnier shores of Bayside. Gugino starred as Karen, a ninth grader who developed a crush on Zack at summer camp. The problem is, Zack lied about his age, which she discovered when she transferred to his school. She wasn’t impressed.

    Casey Kasem starred as himself in two separate episodes

    The legendary disc jockey made two guest appearances on the show. First, he showed up at The Max to host a dance competition, with Lisa and Screech winning top honors thanks to their brand new dance, The Sprain. Kasem appeared in a later episode as a narrator, when the gang forms a pop group, becoming global music superstars until the fame and fortune went straight to Zack’s mile-high blonde hair.

    See the rest of the story at Business Insider

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    Trump jersey

    • President Donald Trump's campaign store is selling a jersey with the phrase "Stand Up For America" on the front. 
    • The jersey debuted the week that Nike launched its ad campaign starring Colin Kaepernick.
    • Trump has criticized Kaepernick's kneeling in protest during the national anthem and has called for the firing of NFL players who knelt during the anthem to protest policy brutality. 

    President Donald Trump's campaign store is now selling a "Stand Up For America" jersey as Trump continues to criticize players who protest during the national anthem. 

    The jersey, which costs $99, feature the number 45 — a reference to Trump's presidency — and "TRUMP" sewn across the back. Both male and female jerseys are available, and they additionally feature an embroidered American flag on the sleeve. 

    A Trump campaign spokesperson told the New York Post that sales of the jersey over the last month have been "brisk." The jersey, like most official Trump gear, is produced by  Lafayette, Louisiana-based manufacturer Ace Specialties.

    Trump jersey

    Trump's campaign store began selling the jerseys on September 7, the week that Nike debuted its ad campaign starring Colin Kaepernick.

    In the aftermath, critics threatened to boycott Nike— with some people even destroying Nike socks and shoes and posting about it on social media — while others praised the advertisement. The president described the campaign as a bad business decision, tweeting: "What was Nike thinking?"

    Kaepernick was the first NFL player to kneel during the national anthem before games in 2016 to protest racial inequality and police brutality. Critics saw the protest as disrespectful to the military, and Trump called for players who protested during the anthem to be fired.

    Kaepernick is embroiled in a lawsuit against the NFL, accusing team owners of colluding to keep him from being signed after he became a free agent in March 2017.

    Despite his absence from the NFL, Kaepernick has seen his own boom in jersey sales. In 2016 and 2017, his jersey was one of the most popular in the league. In September, Kaepernick debuted a new jersey, unaffiliated with any NFL team, that read "#IMWITHKAP". Jerseys that were available for preorder sold out within a day. 

    SEE ALSO: Meet the woman behind Trump's $20 million merch empire

    Join the conversation about this story »

    NOW WATCH: One bite from this tick could ruin red meat for the rest of your life

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    Borderlands 2 VR

    • "Borderlands 2 VR" will arrive on PlayStation VR December 14th for $49.99.
    • "Borderlands 2" remains one of the most popular shooting games on PC, and the virtual-reality version will feature enhanced graphics and new abilities.
    • While "Borderlands 2" originally allowed up to four players, the VR version will be single-player only.

    Fan-favorite sci-fi shooter "Borderlands 2" will make the jump to virtual reality with "Borderlands 2 VR" launching on the PlayStation VR this December.

    "Borderlands 2" has remained one of the most popular first-person shooters on PC since its release in 2012, with fans making all sorts of modifications to the cooperative campaign that allowed up to four players. 

    By incorporating virtual reality, "Borderlands 2 VR" will bring players closer to the action with a larger field of vision and the ability to look around with the PlayStation VR headset. For example, you could be shooting straight ahead at an enemy but then turn your head to make sure nothing is sneaking up behind you.

    The game can be controlled using a combination of real-time aiming and a standard PlayStation controller, and there's at least some form of support for the PlayStation Move motion controllers. Players in VR will have access to a new abilities too, letting them slow down time to take better aim during fire fights, or teleport to quickly change position in the world. However, the virtual reality experience will only allow for single-player campaigns.

    The original "Borderlands 2" was already ported to the PlayStation 4 and Xbox One in 2015 as a part of "Borderlands: The Handsome Jack Collection." However, "Borderlands 2 VR" appears to be exclusive to PSVR for the time being. 

    There's currently no word as to whether "Borderlands 2 VR" will include the original game's large library of expansion content, which includes extra character classes and hours of side quests. "Borderlands 2 VR" launches on the PlayStation VR on December 14 for $49.99.

    Join the conversation about this story »

    NOW WATCH: Watch Apple unveil the new iPhone XR, XS, and XS Max

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    Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

    Here's why hedge funds could keep the stock sell-off raging — and what you can do to protect yourself

    As the stock market suffers through its most recent bout of selling pressure, it feels as if a perfect storm of bearish factors have culminated simultaneously.

    There are spiking Treasury yields, which have reduced the relative appeal of equities and exacerbated fears of a liquidity crunch.

    Then there's President Donald Trump's trade war, which has rattled nerves worldwide and left investors to assess the potential market fallout.

    There's also the unfortunate fact that corporate share buybacks— which have buoyed stocks during lean times throughout the 9-1/2-year bull market— are in a market-wide blackout period prior to earnings season.

    And if all of that weren't stark enough, hedge funds are doing their part to make the experience as miserable as possible. After all, it's their most popular holdings that are absorbing the brunt of the selling.

    There's been a shakeup in Goldman Sachs' trading division — and a 28-year veteran is out

    A 28-year veteran of Goldman Sachs is leaving the firm as new CEO David Solomon looks to put his mark on the bank.

    John Willian, who previously served as the bank's global head of fixed income, currency and commodities sales (FICC), is retiring from Goldman, according to a memo on Tuesday.

    He'll remain an adviser to the bank, the memo said.

    Av Bhavsar, who oversees US credit and mortgage sales, and Ricardo Mora, global head of FICC emerging markets distribution and head of Americas foreign exchange sales, will now become coheads of fixed income, currency and commodities sales in the Americas, the memo said.

    A small team of traders at Goldman Sachs made $100 million betting on natural gas 

    Goldman Sachs has bounced back from last year's commodities rout.

    The investment bank racked up $100 million in the first half trading natural gas, according to people with knowledge of the matter. The money was made by Shane Lee, a Calgary-based trader who previously worked at the hedge fund Amaranth Advisors, and his team, the people said.

    The performance was a reversal from 2017, when natural-gas bets in the second quarter went so poorly that the commodities-trading department turned in its worst annual performance in the bank's history as a public company.

    Commodities trading, once one of the bank's most vaunted businesses, saw revenue plummet 75% to less than $300 million last year, Bloomberg has reported. That was down more than 90% from a high of $3.4 billion in 2009.

    In markets news

    Join the conversation about this story »

    NOW WATCH: Beware one huge mistake investors often make when the economy is at a crossroads, says Charles Schwab’s investment chief

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    kaley cuoco karl cook

    • Kaley Cuoco married Karl Cook this summer.
    • She told Women's Health that she still maintains her independence. 
    • She said that she is secure knowing that she is financially stable. 

    Kaley Cuoco is happily married, but that doesn't mean she can't be on her own.

    In an interview with Women's Health, the 32-year-old "Big Bang Theory" star said she's independent from her husband, Karl Cook. 

    "I don't need Karl for anything," she said. "If Karl left me tomorrow, I'd be fine. And he knows that, and he would be fine too."

    Cuoco married Cook, an equestrian, in a stunning ceremony in San Diego, California in July 2018. The two met at a horse show after bumping into each other and became engaged in November 2017 after two years of dating. She told Women's Health that he didn't watch the "Big Bang Theory" so he was unaware of who she was at first, but they quickly bonded over horses and life. 

    "We bonded a lot over having the same kind of outlooks on life, insecurities, dating," she said. "It was great because he never kissed my a-- at all, and he never cared about any of that. He loved that I loved horses. It became a big talking point for us."

    Cuoco's mom suggested she try horseback riding and she quickly found a passion for the sport. She now has nine horses and her own barn and shows the horses around the country. 

    The actress was previously married to tennis pro Ryan Sweeting but they divorced in 2016. She told Cosmo that she didn't expect to get married again

    "I honestly thought I wouldn't get married again," she said. "My ex ruined that word for me."

    But she is happy and secure in her new relationship.

    "I want to see him," she told Women's Health. "I like knowing, though, that I'm [financially] set, because I've taken it upon myself to do that. I like to tell my friends, 'Always make sure you have your life going, and that you're number one, so that anyone who comes into it — husband or boyfriend or girlfriend, however you roll — that's just an added bonus to something you're already creating.'" 

    Visit INSIDER's homepage for more.

    Join the conversation about this story »

    NOW WATCH: Why horseshoe crab blood is so expensive

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    Google I/O 2018 sundar pichai

    NEW YORK CITY — Google just unveiled a slew of new hardware products on Tuesday morning, including its latest smartphone, the Pixel 3.

    Despite numerous leaks in the weeks and months leading up to the announcement, Google still managed to pull out a few surprises. In addition to the new Pixel 3 phones, we also saw ChromeOS-powered tablet called the "Pixel Slate," and a new Google Home with a screen called the "Home Hub," among other things.

    Business Insider attended Google's big event in New York City. Here's how it all went down:

    10:43 AM: A shot of the event space before it starts. The chair situation is interesting. All of the chairs are mismatched — some people are sitting on stools. It's very "Google-y."

    11:04 AM: After a cute video showing all of the Pixel 3 leaks ahead of the event, Google's Rick Osterloh takes the stage to explain how Google's new products are centered around the idea of "help."

    11:06 AM: Osterloh talks about Google's translation feature as an example of how technology is helping remove barriers between people to make life easier, and better.

    See the rest of the story at Business Insider

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    bill ackman

    • Bill Ackman, the billionaire founder of Pershing Square Capital Management, disclosed a stake in Starbucks on Tuesday, according to multiple reports. 
    • Starbucks shares jumped by as much as 5% following the news. 
    • In August, Ackman said he had bought shares of an undisclosed company worth $800 million.
    • Watch Starbucks trade in real time here. 

    Starbucks shares jumped by as much as 5% Tuesday on news that the hedge-fund billionaire Bill Ackman had bought a stake in the coffee retailer. 

    According to CNBC's Leslie Picker, Ackman disclosed the stake while presenting at the Grant's Fall 2018 Conference in New York. He had previously announced a position worth about $800 million, or 10% of his hedge fund's portfolio, in an undisclosed company in August. 

    Pershing Square, Ackman's hedge fund, owns 15.2 million shares of Starbucks worth $900 million, according to CNBC. The stock has gained 1.5% this year. 

    Ackman has also been adding to a stake in United Technologies. 

    Earlier this year, Ackman ended a five-year battle with Herbalife that he publicly fought against Carl Icahn, another billionaire investor, who was bullish on the company. He also saw big losses on a position he held in Valeant Pharmaceuticals.

    Reuters reported in January that Ackman sought to lower his profile and turn around his hedge fund's three straight years of losses. 

    As an activist investor, Ackman takes big positions in companies and pushes for changes in how they are run.  

    This story is developing ... 

    Don't miss:

    Screen Shot 2018 10 09 at 1.14.15 PM

    Join the conversation about this story »

    NOW WATCH: 3 surprising ways humans are still evolving

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    ruby rose batwoman

    • The CW has released the first image of Ruby Rose as Batwoman.
    • Rose previously deleted her Twitter account in response to fan backlash from the casting.
    • This time around, many fans are being supportive, praising Rose and the costuming.

    The bat is out of the bag — and fans think she looks phenomenal.

    The CW released the first official photo of Ruby Rose as Batwoman this week, and many fans feel that both Rose and her costume are perfect for the iconic role.

    In the photo, Rose dons a black catsuit with a red bat emblazoned on her chest and a faded red belt. She holds her cape open and gazes fiercely at the camera, though most of her face is concealed by her Batwoman mask. She also is sporting Kate Kane's cascading red hair and matching red lipstick.

    🦇❤️First look❤️🦇 🦇 Crossover event 🦇 December 9 at 8pm ET

    A post shared by Ruby Rose (@rubyrose) on Oct 9, 2018 at 8:03am PDT on

    After seeing the photo, many fans seem pretty excited

    The positive fan reactions could be quite a relief for Rose, who previously deleted her Twitter account after the overwhelming backlash to the initial casting news.

    Kate Kane and Batwoman are one and the same, a famed superhero from DC Universe. Rose will be bringing the character to the small screen for an "Arrow"-verse crossover event this December before starring in a "Batwoman" series on The CW in 2019.

    Rose's portrayal of Batwoman is also notable because the character is written as an out lesbian

    ruby rose"Armed with a passion for social justice and a flair for speaking her mind, Kate Kane soars onto the streets of Gotham as Batwoman, an out lesbian and highly trained street fighter primed to snuff out the failing city's criminal resurgence," the logline reads. "But don't call her a hero yet. In a city desperate for a savior, Kate must overcome her own demons before embracing the call to be Gotham's symbol of hope."

    Rose seems more than excited about the casting

    "I am beyond thrilled and honored," she wrote on Instagram back in August. "I'm also an emotional wreck… because this is a childhood dream. This is something I would have died to have seen on TV when I was a young member of the LGBT community who never felt represented on tv and felt alone and different. Thank you everyone."

    The three-night DC crossover event starts Sunday, December 9 at 8 p.m. EST on The CW.

    Visit INSIDER's homepage for more.

    Join the conversation about this story »

    NOW WATCH: 3 compelling reasons why we haven't found aliens yet

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    At its October 2018 event, Google showed off its new Pixel 3 phones. There are two phones, the Pixel 3 and the Pixel 3 XL. They are available in three colors — just black, clearly white, and not pink. The cameras are equipped with features like “Super Res Zoom” and “Night Sight,” which Google says will help create clearer zoomed-in photos and night shots. The phone can also screen calls for you. Pricing starts at $799 for the 5.5-inch Pixel 3 and $899 for the Pixel 3 XL.

    Join the conversation about this story »

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    Notre Dame

    We are now six weeks into the college football season, and we finally have some shakeup at the top of the playoff power ranking.

    Four more teams were effectively eliminated from playoff contention, with Kentucky, Oklahoma State, Auburn, and Stanford all suffering losses that they won't be able to overcome. Meanwhile, Notre Dame is now in a position to be one of the four teams still standing at the end of the season.

    We have learned a few things over the years about how the committee picks the final four, and we have some idea of what teams need to do to make the playoff. Below, we ranked the 17 teams that still have a legit shot to make the playoff.

    17. North Carolina State

    Record (AP Rank): 5-0 (20)

    Last week's result: Beat Boston College, 28-23

    Last week's playoff rank: unranked

    Key games remaining: The Wolfpack have Clemson on the road in two weeks.

    One thing to know: We're not ready to include Colorado because the Pac-12 is a mess. Meanwhile, NC State caught a break with the cancelation of the West Virginia game. They will get a shot to prove their legitimacy against Clemson in 2 weeks.

    16. LSU

    Record (AP Rank): 5-1 (13)

    Last week's result: Lost to Florida, 27-19

    Last week's playoff rank: 7

    Key games remainingThey have to play Georgia and Alabama, although both are at home. They also have Texas A&M on the road.

    One thing to know: LSU couldn't afford a loss to Florida. Now their path back to the playoff picture might require them to beat Alabama once and Georgia twice. Good luck with that.

    15. Wisconsin

    Record (AP Rank): 4-1 (15)

    Last week's result: Beat Nebraska, 41-24

    Last week's playoff rank: 17

    Key games remainingWisconsin still has games on the road against Michigan, Northwestern, and Penn State.

    One thing to know: Even if Wisconsin runs the table and wins the B1G title game, that still might not be enough with all the undefeated and 1-loss teams ahead of them.

    See the rest of the story at Business Insider

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    Google Pixel 3 event

    Just like its forebears, the newly-announced Pixel 3 smartphone looks like it will have some serious photography chops. 

    At Google's Pixel 3 announcement event on Tuesday morning, the company laid out all the new features coming with the Pixel 3 — and as usual, the camera received a lot of attention. Google's Pixel cameras are well-known for their powerful cameras capable of producing high-quality images, and the Pixel 3 looks like no exception.

    New, mostly software-based additions are coming to existing Pixel phones as well as the Pixel 3 series. Some upcoming features include better low-light performance, an AI-based burst photo mode that will automatically choose the best image, and a group selfie mode that captures a wider frame to ensure everyone gets in the shot. Better yet, some of these features will be coming to existing Google Pixel and Pixel 2 phones, with details on that forthcoming.

    The Pixel 3 and Pixel 3 XL are available for preorder now and will start shipping on October 17 — the standard version starts at $799, and the XL version starts at $899. 

    Here are the new features coming with the Pixel 3's camera: 

    SEE ALSO: All the announcements from Google's Pixel 3 event

    Night Sight: The Pixel 3 will be able to take well-lit photos even in low-light situations — without using a flash. During the keynote, Google compared a low-light photo taken on a new iPhone XS with a Pixel 3 Night Sight photo, and the difference was pretty significant.

    Top Shot: It's pretty easy to miss a picture-perfect moment, especially when it happens quickly. The Pixel 3's Top Shot feature attempts to alleviate that with the help of artificial intelligence.

    Top Shot will take a series of photos, before and after you press the shutter button, and it will recommend the best one by checking if everyone in the photo is smiling, facing the camera or has their eyes open. You can scroll through the photos to pick your favorite if you don't want the Pixel's recommended choice.

    Group Selfie Cam: Google boasts that the Pixel 3's rear-facing cameras give you 184 percent more room in your frame when taking selfies, which should ensure that everyone gets in the shot. Google even joked that it could replace a selfie stick.

    See the rest of the story at Business Insider

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    Google Call Screen

    • Google is trying to end telemarketer calls on smartphones through a new Android feature named "Call Screen."
    • The feature lets you use Google Assistant to answer phone calls — it instantly transcribes the phone call and lets you choose if you want to pick up.
    • If it is indeed a telemarketer, the call can be instantly marked as spam. 
    • The feature is rolling out to Pixel 3 smartphones first, but "comes to the entire Pixel family next month."

    "You'll never have to talk to another telemarketer," Google product manager Liza Ma said on Tuesday morning to raucous applause.

    Ma had just introduced Call Screen, a new feature built into Android on Google's Pixel line of smartphones. The service is Google's latest attempt to curb telemarketing calls on smartphones.

    As the name implies, the service enables Pixel phone users to screen phone calls in a more active way than simply looking at the number and ignoring it or declining.

    By using Call Screen, Google's software answers the phone call for you and transcribes the caller's response in real time. Like so:

    Google Call Screen

    In this way, Call Screen is an extension of how Google's Pixel phones already operate. 

    As it is, Google's Pixel phones warn users about suspected spam numbers — telemarketers — and allow for outright filtration of all such calls. With Call Screen, that function is taken one step further.

    Whether it will work is another question. That's due to the way that telemarketing services catalog their phone number databases. These services track whether or not numbers they call answer attempted outreach. Numbers that receive a pick-up are subsequently marked as answered phone numbers, and those numbers are targeted. Given that telemarketing services often use number spoofing services, which enable them to hide their identity as another phone number, it can be hard to mark numbers as spam.

    Worse, if Call Screen is flagged as a "pickup" by telemarketers, it could result in more calls. We'll have to wait and see how it works in real life to know for sure.

    In the meantime, check out a video of the new Call Screen feature in action right here:

    SEE ALSO: Google just announced its latest smartphones — the Pixel 3 and Pixel 3 XL

    Join the conversation about this story »

    NOW WATCH: The Samsung Galaxy Note 9 is a $1,000 phone that's actually worth it

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    • The 2018 US Senate elections are full of tight races, polling shows.
    • Entering the midterms, Republicans hold a 51-to-49 seat majority in the upper chamber of Congress.
    • A few seats changing hands could flip the body to Democratic control.
    • But Democrats are faced with a challenging map.

    The battle for control of the Senate is as tight as can be, RealClearPolitics polling averages show. 

    This week, Republicans continued to build separation from a Democratic incumbent in North Dakota while Democrats built on what was a shrinking lead in New Jersey.

    As of Tuesday, candidates are separated by 3 points or less in six races.

    • Polling shows Republican candidate, Rep. Kevin Cramer building his lead over a Democratic incumbent, Sen. Heidi Heitkamp, in North Dakota. In Missouri, Republican Josh Hawley holds a slim lead over another Democratic incumbent, Sen. Claire McCaskill.
    • Meanwhile, Democratic candidates Kyrsten Sinema and Jacky Rosen hold slim leads for seats currently under GOP control in Arizona and Nevada.
    • In five states won by President Donald Trump in 2016, Democratic incumbents hold substantial leads over their opponents: Sens. Sherrod Brown of Ohio, Bob Casey of Pennsylvania, Joe Manchin of West Virginia, Debbie Stabenow of Michigan, and Tammy Baldwin of Wisconsin.

    Entering the midterms, Republicans hold a 51-to-49 seat majority in the upper chamber of Congress.

    Election Day is November 6. We'll continue to update this map in the weeks leading up to it.

    SEE ALSO: Insiders are buzzing that northern Virginia could soon be awarded Amazon's HQ2 as Jeff Bezos makes a high-profile visit to Washington, DC

    Join the conversation about this story »

    NOW WATCH: Inside the Trump 'MAGA' hat factory

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    BI Graphics Jeff Bezos vs Elon Musk

    • Morgan Stanley auto analyst Adam Jonas told Business Insider that major tech companies like Alphabet, Apple, and Amazon will have an advantage over Tesla when or if they decide to operate self-driving taxi services.
    • Each can use profits to offer new services at lower prices than their competitors to gain market share and drive out rivals.
    • Tesla, on the other hand, has produced widening losses in the past two years and has over $3 billion in debt due through the end of 2021.
    • If Tesla wants to run a successful autonomous ride-hailing service, the service will have to be profitable at some point, Jonas said.


    In the coming years, Tesla plans to launch an autonomous mobility service, called the Tesla Network, that will combine ride-hailing and car-sharing. 

    While CEO Elon Musk has touted the Tesla Network as an opportunity for Tesla owners to make money from their vehicles when they aren't using them, Morgan Stanley auto analyst Adam Jonas told Business Insider that peer-to-peer car sharing will comprise a small percentage of the network. Instead, Jonas said he thinks Tesla will start an autonomous ride-hailing service with a fleet of company-owned vehicles.

    Big tech companies can offer new services at a loss

    In a 2017 study, Intel and Strategy Analytics projected that the global market for autonomous driving technology will be worth $7 trillion in 2050. That's why auto and tech companies are spending billions to develop self-driving systems. 

    Jonas said major tech companies like Alphabet (which owns the autonomous driving company Waymo), Apple (which is developing self-driving technology), and Amazon (which has formed a team to explore possible uses of self-driving tech) will have a big advantage over Tesla when or if they launch self-driving taxi services because they could run such an operation at a loss.

    Alphabet and Apple have posted billions of dollars in annual profits for over a decade and Amazon has done so in each of the past two years. Each can use those profits to offer new services at lower prices than their competitors to gain market share and drive out rivals.

    Tesla, on the other hand, has produced widening losses in the past two years and has over $3 billion in debt due through the end of 2021. While its energy business and vehicle charging stations give the company diverse revenue streams, Tesla doesn't have the breadth of products and services that Alphabet, Apple, and Amazon do. If Tesla wants to operate a successful autonomous ride-hailing service, the service will eventually have to be profitable, Jonas said.

    "If Tesla's going to run an autonomous taxi service long-term, then at some point they need to make money on that journey," Jonas said. 

    Tesla did not respond to a request for comment. 

    Profitability is a priority for Tesla

    Profitability is becoming a priority for Tesla. In its 15-year history, the company has had just two profitable quarters and zero profitable years. But Tesla has said that it expected to become consistently profitable starting in the third quarter of this year (it has not yet disclosed its third-quarter financial performance). 

    Jonas said he expects the Tesla Network to launch in the latter part of 2019 on a very limited basis. (Musk has said the service will likely be ready by the end of next year, pending regulatory approval.) Waymo has said its autonomous ride-hailing service will debut in Phoenix before the end of this year, and while Apple and Amazon are exploring self-driving technology, neither has disclosed firm plans for an autonomous taxi service. But, Jonas said, the exact year any of the three would start offering an autonomous ride-hailing service doesn't matter, as they'll be better positioned than Tesla to run new services at a loss for the foreseeable future.

    That advantage is a major reason Jonas said his outlook on Tesla has changed. He said he once thought the further into the future you looked, the better Tesla's prospects appeared. Now, he said, the opposite may be true.

    Read more about automotive technology:

    SEE ALSO: 13 electric SUVs that will rival Tesla's Model X

    Join the conversation about this story »

    NOW WATCH: This trike is made to look like a semitruck

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    airport thailand

    From baggage fees and paying for airline extras like extended legroom to faster boarding, priority seating, or in-flight entertainment, it feels like flying is a more expensive experience than ever before. Eating at the airport or on your airplane can rack up costs too, especially if you feel forced to spend when you're overly hungry or in a time crunch. Make note of these simple hacks to save money next time you jet set.

    Pack in the protein before you go.

    Eating protein can help you feel full longer, which will save you from spending too much money when you become ravenous and are willing to pay a high price for a quick fix. Eat a balanced meal before you leaving home, such as an egg-based breakfast or protein-packed lunch, and push yourself to buy food that'll leave you satiated and sustained, rather than expensive, sugary or salty snacks and novelties.

    Bring your own snacks.

    It might be obvious, but bringing your own snacks can save you major money at the airport. Veggies and fruits are nutritious items to take through security, while bars can help you stave off hunger by providing the right mix of nutrients.

    Bringing the right kind of bar is also helpful if you're on a special eating plan or have trouble finding low-cost options that are low sugar, gluten, or grain-free. Trail mix is another good option, as you can make it fairly low-cost shopping in the bulk food section, and it keeps well while traveling and over time.

    Tap into free water

    Most airports have free, drinkable bubbling water you can use to fill up your water bottle. Not only will this save you money you might've spent on buying bottled water, but using a smart bottle will ensure you keep it cold longer.

    You can use hot water to make a more filling snack, too: Asking for a cup of boiling hot water is almost always free, and you can add it to instant meals or soup packs for a low-cost snack that'll hold you over or save you from spending more.

    See the rest of the story at Business Insider

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    alone sad depressed sea

    • Several companies make DNA tests that claim to tell you how well you'll respond to certain antidepressants based on your genetic profile.
    • Two personalized medicine companies — Assurex and Genomind — offer some of the most popular tests and work with physicians and pharmacists to provide them to patients.
    • A chain of Albertsons pharmacies in Chicago, Philadelphia, and Boise is running a pilot program in which pharmacists can offer the Genomind test.
    • Silicon Valley genetics testing startup Color Genomics recently began offering a similar test as part of its services.
    • The costs of the tests range from $250 to $750, but some scientists say it's not worth the money. 

    Around the time that 26-year-old Courtney Luk got in line at the pharmacy to pick up her 25th depression medication, she decided she'd had enough.

    Over the previous two years, Luk had been prescribed everything from Klonopin to Xanax to treat the anxiety and depression she'd experienced since adolescence. Nothing seemed to do the trick. One medication would make her feel numb; others seemed to make her symptoms worse.

    Then a psychiatrist suggested she try a genetic test that could provide guidance about which drug Luk should try next. They swabbed the inside of Luk's cheek for a spit sample and sent it off to get tested.

    Using DNA testing to determine how well a given depression medication will work with a patient's genetic makeup is becoming a popular approach. More than 750,000 people have taken one such test, called GeneSight, which is made by personalized medicine company Assurex, according to its website. A network of 28 Albertsons pharmacies offers a similar test made by a company called Genomind as part of a pilot program. And just last month, Silicon Valley genetics testing startup Color Genomics began offering a test as part of its $250 kits.

    But some scientists say the tests have limited utility.

    That's because they doesn't tell providers which specific medication is best to prescribe patients, according to Alan Schatzberg, a Stanford University psychiatrist. And Cristina Cusin, a Harvard psychiatrist, said the test won't give helpful results to patients who take more than one medication.

    Plus, the tests may give conflicting results to the same patient for the same medication, according to a peer-reviewed analysis of four different gene tests published this summer.

    A pricey test with a lofty goal

    DNA Swab

    Since adolescence, Luk had experienced debilitating anxiety that sometimes turned into panic attacks, along with mood swings and depression that sometimes led her to contemplate taking her own life. Despite trying more than two dozen different medications, Luk and her psychiatrists had yet to come up with a combination of drugs that significantly lifted her mood without contributing to her anxiety.

    Luk had heard of genetics tests for antidepressants before, but previously declined to take one since she couldn't afford the $750 price tag.

    But when a psychiatrist suggested a test she could get for free through insurance, a kit from Genomind called the Genecept Assay, Luk said yes. The test appealed to her as a potential way to eliminate the trial-and-error process of starting a new drug and waiting — sometimes up to six weeks, the standard for most antidepressants — to see if it worked.

    "I don't feel like my medications right now are working optimally, and I was hoping to learn if there's a cocktail of medications that would do that," Luk said.

    Her psychiatrist told her the test might show them what to do next. Perhaps they'd learn that one medication wasn't right for her body and could be replaced with a different drug. But when the results came in, they were murkier than Luk anticipated.

    Her report listed all the antidepressants she'd taken along with several she'd yet to try. Each got a colored check mark: red checks suggested Luk would likely have negative reactions to a drug, green checks suggested no negative reactions, and orange checks indicated something in between.

    Next to a popular antidepressant called Celexa, for example, Luk's test showed an orange check mark and said, "increased risk for adverse events or poor response." That meant that because of the way her body processed the drug, Luk was more likely than the average person to experience negative side effects or see no positive results.

    Sure enough, Luk recalled that when she'd taken Celexa several years earlier, she had experienced painful bruising across her arms and legs.

    But another drug Luk had recently begun taking, called Topamax, carried a green check and said "use as directed — no known gene-drug interactions." Despite taking that medication for several weeks, however, Luk said she hadn't experienced any change in her symptoms.

    So she went back to trial and error.

    Daniel Dowd, Genomind's vice president of medical affairs, acknowledged that some patients may read too much into the test.

    "I think patients do tend to think, ‘OK, this is going say exactly what this specific drug is going to do for me,' and that's not what this test is," Dowd told Business Insider. "Like any other branch of medicine, [the test] provides an estimation of risk."

    Genomind funded a 2018 study of its test that analyzed patient spending in the six-month period following use of the test. The authors — one of whom sits on Genomind's scientific advisory board — compared roughly 800 people with mood and anxiety disorders who took the test with nearly 3,000 people who didn’t take it. They found that people who took the test spent nearly $2,000 less on healthcare on average, mostly because they visited ERs and hospitals less frequently in the months following the test than people who didn't take it.

    The researchers wrote that it could represent “a promising strategy to reduce costs” in people with depression and anxiety.  

    To Dowd, the finding was a big endorsement of the test.

    "If we can get this test embedded in the healthcare record, that could mean a big cost savings," he said.

    Who the test may — and may not — help

    Once you swallow a pill, various genes control how your body will break it down. One gene in particular, called CYP2D6, is one of the most closely studied. Some people have faulty or abnormal copies of that gene, meaning they don't process drugs like antidepressants as they should. That increases the chances that someone could have an adverse reaction like bruising or not respond to a medication at all.

    The gene tests are designed to assess whether a patient is likely to have a negative outcome on any common antidepressants. In theory, that would help patients and their providers narrow down the list of potential medications to try.

    "In these cases, I think there is clear evidence" for using a gene test, Michelle Whirl-Carrillo, a senior research scientist at the Stanford University School of Medicine, told the author of an article published by the Journal of the American Medical Association (JAMA)

    But Schatzberg, the Stanford psychiatrist, said a narrower list is not what his patients need.

    "What’s really needed is a test that says, ‘You have this profile, these are the two drugs you need to use.’ That’s what’s missing," he said.

    Instead, the tests merely tell him if someone's body doesn't process a drug properly — a conclusion they'd reach anyway after trial and error.

    "I don’t need to know if a person is a poor drug metabolizer. I need to know what drug to use where I’m going to get the positive effect," Schatzberg said. "These tests don’t do that."


    Cusin, the Harvard psychiatrist, specializes in treating people with severe depression. She agreed with Schatzberg.

    "I don't think psychiatrists get much information about the costs and benefits or much predictive value for this type of test," she said.

    Cusin added that she doesn't think the test helps in cases where people are taking multiple medications or when patients have a history of failing to respond to medications. Plus, she said, a recent study made her hesitant to use the tests in her own practice.

    That study found major inconsistencies among four different gene tests (including Genomind’s). In roughly one out of five cases, the authors said, different tests gave conflicting advice to the same patient.

    “The level of disagreement in medication recommendations … indicates that these tests cannot be assumed to be equivalent or interchangeable,” the researchers wrote.

    ‘I jumped on it because I was tired of trial and error'

    pharmacy-prescription-medication-pillsUnlike Luk, Allyson Byers, a 27-year-old in Los Angeles, said taking a genetic test saved her time in the quest to find the right medication.

    Byers took Assurex's GeneSight test after trying several drugs for her depression. 

    "I jumped on it because I was tired of trial and error," she told Business Insider.

    Byers said she paid $60 for the test after talking with her therapist and an Assurex representative (though she initially received a bill for several hundred dollars).

    Her results weren't perfect. Byers had been taking the antidepressant Zoloft for nine months, but she experienced several negative side effects, including weight gain. On the Assurex test, however, Zoloft was green-lit.

    "When the results came back, I was questioning myself and thinking, ‘Did I make that all up? Did I really gain weight?'"

    But the test also suggested another medication called Pristiq that Byers had not previously taken, she said. So Byers' therapist suggested they try that instead of Zoloft. Several weeks later, Byers said she felt better — and thanked the test for helping her find a different medication.

    "I've had to go up in dose a couple times, but I feel like I've finally found the right dose," she said. For her, the test was "just another tool to help narrow things down."

    Coming to a pharmacy near you?

    AlbertsonsIncreasingly, some patients are learning about genetics tests for antidepressants from their pharmacist instead of a psychiatrist.

    In Chicago, Boise, and Philadelphia, 28 Albertsons drug stores are offering the Genomind test, according to Kimberly Hecht, a patient care services coordinator with Albertsons who leads the project.

    She told Business Insider that mental health became a focus at the pharmacies she oversees when they began offering medications for drug addiction. Plus, because Albertsons' pharmacies are open longer and on more days of the week than others nearby, they sometimes function as a default mental health provider, Hecht said.

    "It just made sense with what we were offering and also because of our position in the community," Jennifer Rapley, a marketing manager with Albertsons who works closely with Hecht, told Business Insider.

    The project is currently in a pilot phase, but Genomind hopes to eventually offer its gene test in all 1,760 Albertsons-owned pharmacies throughout the country, JAMA reported this month.

    But some components of the Albertsons program — such as how pharmacists determine whether a patient is a good candidate for the test and how it evaluates whether the results are effective — remain hazy.

    For example, a patient does not have to have a history of using antidepressants to be offered the test, Hecht said.

    "Typically it's going to be patients who’ve tried a couple different things and it’s not working, but we kind of leave it up to our pharmacists’ professional judgment," she said.

    That makes Schatzberg wary. 

    "I think it presents real problems," he said. "It’s practicing a level of medicine and offering a test where it’s not clear whether and how it should be used. It’s hard for me to believe that’s a good idea."

    The future of genetic testing for depression

    Last month, Silicon Valley genetics testing startup Color Genomics began offering a test for antidepressants as a component of its DNA tests, which screen for gene variations linked to cancer and heart disease. Color's service includes a professional genetics counselor who walks a patient through their results.

    Othman Laraki, the company's founder and CEO, told Business Insider that he sees the new test in a similar light to Color's cancer test, which the company began offering in 2013.

    "Like we saw with cancer, it’s definitely a moving target, it’s definitely still early, and there’s still a lot of uncertainty," Laraki said. "But there’s enough support and enough scientific validity where it makes us feel comfortable enough to offer it."

    Hecht, the Albertsons coordinator, agreed.

    "These types of tests really are the future and have the potential to really help people," she said.

    But for some patients, that future may not have arrived yet.

    "After 25 different drugs, I may just be one of those people whose bodies doesn't respond to medication," Luk said. "In the end, it's still trial and error, but it's a little bit more of a targeted trial and error — a little bit more of an educated guess."

    SEE ALSO: 'This test is garbage': Experts and former employees allege that a Silicon Valley startup gives bogus 'cellular ages' based on a flawed blood test

    DON'T MISS: A controversial startup that charges $8,000 to fill your veins with young blood is opening its first clinic

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    google ceo sundar pichai

    • Twice in two days, Google has been shown to be deceptive about matters of public concern, first concerning a security vulnerability and then about the development of a censored search engined for China.
    • The incidents are part of a pattern of behavior by the company where it's been repeatedly secretive, unaccountable, and untrustworthy.
    • The behavior is worrisome and dangerous because of Google's immense power.

    Maybe we should have paid closer attention when Google dropped its famous "don't be evil" motto.

    The company that has long presented itself as the kinder, gentler, and more ethical tech company has been anything but that lately. Instead, the search giant is looking increasingly like an organization that is striving to do the opposite of its revised motto— "do the right thing."

    The latest examples came this week. On Monday, news broke of a bug in the company's Google+ social network that affected an estimated 500,000 people and exposed information that users intended to keep private. Although Google had known about the bug since March, it decided to keep the vulnerability to itself, in part, the Wall Street Journal reported, because it didn't want to raise the ire of regulators.

    Then on Tuesday, The Intercept published a transcript of a private meeting between Ben Gomes, who heads up Google's search engine, and a team of company employees in July. Gomes was discussing Google's effort to develop a censored search engine for China, a product that company officials have repeatedly said is just an idea being explored, with no plans for an imminent launch.

    But the transcript makes clear that the company hasn't been honest about Dragonfly, the code name for its Chinese search engine effort. Google, according to Gomes remarks, plans to launch the search engine as soon as it can get approval from Chinese officials, possibly as soon as early next year.

    The latest incidents are part of a pattern of behavior

    Google's decision to hide the security vulnerability and its duplicity about Dragonfly are part of an emerging pattern of behavior from the company. The company and top officials have shown repeatedly recently that they don't feel like they are accountable to anyone and shouldn't be trusted.

    Take Dragonfly as an example. The company generated a lot of controversy when it previously operated a search engine in the country, and it made a big public show about standing up for free speech and human rights when it closed that service in 2010.

    With the United States and China increasingly at odds over trade, theft of intellectual property, and other matters, any effort to re-launch a Chinese search service would likely be even more controversial today. Regardless, such an effort would be a matter of wide interest — to company employees, shareholders, policy makers, and the public at large — and ought to be subject to broad public discussion.

    google employeesBut the company launched and developed its Dragonfly project in secret— not only from the public, but from all but a tiny portion of its workforce — seemingly intentionally in an effort to avoid just such scrutiny. The project only came to light as the result of a leak to the The Intercept.

    Something similar happened with Project Maven, Google's effort to develop and offer artificial intelligence technology to the US Defense Department for use in analyzing drone video footage.

    As with Dragonfly, Google kept the effort secret, including from many of its workers. Then, when Maven came to light, the company downplayed the effort, saying it was just offering the Defense Department access to the same AI technology it offers other companies and organizations and that the contract was for a relatively nominal amount, some $9 million.

    But again, leaked documents showed that to be a lie. The company expected the contract to grow to as much as $250 million, and it was working closely with the Defense Department to customize its technology, according to reports. What's more, Google was planning on doing far more than analyze drone video; it reportedly planned to build a system that could allow the Pentagon to surveil entire cities.

    Similar to what happened with the security bug, company officials sought to keep Maven on the down-low, knowing it would be controversial if it ever became public, internal emails show. Indeed, when the effort did become known inside the company, employees raised such an uproar about it that Google eventually canceled its contract with the military.

    Google officials have been ducking Congress

    But Google's untrustworthy, unaccountable behavior goes well beyond secret projects and hidden security vulnerabilities.

    When the US Senate held hearings last month on foreign countries using social media services to influence American elections, Twitter sent CEO Jack Dorsey and Facebook sent Sheryl Sandberg, CEO Mark Zuckerberg's top lieutenant. Google, by contrast, declined to send either Google CEO Sundar Pichai or Larry Page, CEO of parent company Alphabet. Top Google officials were also no-shows at related hearings held by Congress last fall.

    The empty name tag left for Google's absence at the Senate Select Committee on Intelligence's hearing on election security on September 5, 2018.This despite the fact that Google and its YouTube service were among the prime vehicles that the Russian-linked actors reportedly used to spread propaganda and misinformation during the 2016 election. Pichai has reportedly agreed to finally testify before Congress later this year.

    Meanwhile, the European Union has twicein the last two years found that Google illegally thwarted competition, fining it billions of dollars. Instead of agreeing to change its ways, Google in both cases has now appealed the fines.

    This kind of behavior would be disturbing if it were coming from a small startup. But the fact that it's coming from one of the world's most powerful corporations makes it incredibly dangerous. Google is a company, after all, that essentially runs a global surveillance system. It collects and holds vast amounts of data on its billions of users.

    And it not only knows all about us, but through its dominance of internet search and its outsized role in distributing news, it has a huge amount of control over what we think and know and experience as a society.

    We should should be worried about any company having that kind of power. But we should be particularly concerned about Google having that kind of power. Because the company's recent behavior has shown that it's no longer worried about not being evil.

    SEE ALSO: Donald Trump is right about Google — but for the wrong reason

    SEE ALSO: Europe's competition czar is wrong — it's long past time to break up Google

    SEE ALSO: 'We're totally absent': The US lawyer who helped start the EU's case against Google that just resulted in a $5 billion fine says more needs to be done

    SEE ALSO: Facebook, Google, Apple, and Amazon have too much power — so it's time for regulators to take on tech's titans

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    David Brat and Donald Trump

    • Rep. Dave Brat, a Virginia Republican running for reelection, accused his Democratic opponent Abigail Spanberger of "shouting him down" with a "liberal mob" at a town hall.
    • But a video that Brat is promoting of Spanberger shows her simply nodding her head and calling out responses to questions he asked of the audience at the gathering. 
    • This comes as Republicans — led by the president — are characterizing Democratic protesters as a dangerous, "angry mob." 

    In a new attack ad, Rep. Dave Brat, a Virginia Republican running for reelection, accused his Democratic opponent Abigail Spanberger of joining a "mob" in "shouting him down" at a town hall, even though Spanberger is shown simply nodding, shaking her head, and calling out responses to his questions in the video.  

    On Tuesday, Brat tweeted out his new campaign ad, which includes footage of Spanberger, a former CIA officer, attending one of his town halls in which he invited the audience to answer a series of questions about taxation and government regulation. 

    "How many people want to see individual income tax rate reductions for you in this room? How many people want to see tax increases to fund more programs? How many people want to see corporate tax rate reductions?" Brat asks his audience at the gathering, to which they respond with claps and shouts of "yes" and "no." 

    The ad singles out Spanberger, who is sitting in the front row nodding, shaking her head, clapping, and calling out answers along with the audience

    Brat ends the town hall by asserting that he is trying to promote a discourse with his constituents. 

    "Everybody asks for town halls so we can have a civil discourse, and so that's what we're trying to do," he says. 

    He tweeted alongside the video, "What are we supposed to believe? Abigail Spanberger or our lying eyes? Here's Spanberger caught on tape at a Dave Brat town hall shouting him down and calling for tax increases."

    Democrats pushed back on the ad, accusing Republicans of characterizing peaceful dissent as some kind of uncivil intimidation tactic.  

    "This is what Republicans call a 'mob' and 'shouting him down.' Do not let them win this ridiculous reframing of citizens holding their elected officials accountable,"tweeted Christina Reynolds, a communications official at the Democratic PAC Emily's List. 

    Spanberger also responded to the ad, quote tweeting an op-ed in The Week calling Brat's attack "silly." 

    This comes as the president and the GOP have accused Democratic protesters of being paid to demonstrate, and are characterizing them as an out-of-control "angry left-wing mob."

    Republicans were particularly critical of people — many of them women and sexual assault survivors — who demonstrated against Justice Brett Kavanaugh's confirmation to the Supreme Court after multiple women accused him of sexual misconduct. 

    "I'm glad those who tried to overturn the rule of law and replace it with mob rule lost," Sen. Lindsey Graham, a South Carolina Republican, said on Fox News Sunday following Kavanaugh's confirmation vote.

    SEE ALSO: KAVANAUGH IS CONFIRMED: Embattled Supreme Court nominee secures 50 votes in the Senate, is sworn in as justice

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    Miguel McKelvey WeWork

    • Softbank may make an investment between $15 billion and $20 billion in WeWork, giving it a majority stake in the co-working space company, according to the Wall Street Journal.
    • The discussions are ongoing and a deal is not guaranteed.
    • SoftBank’s technology-focused Vision Fund already made a $4.4 billion investment in WeWork last August, giving it a 20% ownership stake in the company. 

    SoftBank is in discussions about investing $15 billion to $20 billion in WeWork, giving it a majority stake in the co-working space company, according to a Wall Street Journal report on Tuesday.

    The potential deal — a massive investment in a private company even by the dizzying standards of Silicon Valley — would effectively give Japan's SoftBank control of the fast-growing office sharing company.

    And it would cement SoftBank Chairman Masayoshi Son's position as the dominant power in the modern tech economy, with everything from the semiconductors that power smartphones to telecommunications networks in his empire. 

    The discussion to invest in WeWork are ongoing and a deal is not guaranteed, according to the WSJ report, which cites anonymous sources. Representatives of SoftBank and WeWork did not immediately return Business Insider's requests for comment. 

    Billions of dollars and lots of skeptics

    It's not clear what valuation SoftBank would give WeWork in the majority-stake deal. Business Insider reported in June that Rajeev Misra, the chief executive of SoftBank's Vision Fund, told a conference that WeWork was seeking to raise new funds at a valuation of $35 billion, up sharply from its 2016 valuation of $20 billion. He did not say whether SoftBank was participating in the round.

    WeWork, which was founded 8 years ago, has attracted billions in capital to fund its business fitting up and leasing out building space as shared offices. The company has expanded to 22 countries and is on track to generate more than $2 billion in revenue this year. 

    But the company's rapid expansion and multiple diverse acquisitions mean it's burning money. Skeptics worry that WeWork's core proposition of taking on long leases, doing up office spaces, then subleasing them doesn't justify its huge valuation.

    The company lost hundreds of millions of dollars in the first six months of the year according to media reports, and its losses in the UK nearly tripled, according to recent filings seen by Business Insider. That said, WeWork's European flagship building in London turned a profit in 2017, a vindication of what the company claims is a viable business model.

    SoftBank's investment would likely be through its $92 billion Vision Fund, which is backed by Saudi Arabia and Abu Dhabi wealth funds as well as SoftBank's own capital, the Journal reported. The technology-focused Vision Fund already made a $4.4 billion investment in WeWork last August, giving it a 20% ownership stake in the company. 

    Japan-based SoftBank's largest investment to date in a venture-backed startup was $7.7 billion for 15% ownership in Uber, according to The Wall Street Journal. 

    Read more about WeWork and Softbank:

    One of WeWork's buildings is profitable, and the company says it's a vindication of its model

    WeWork is looking to raise new funds at a $35 billion valuation, according to its major investor SoftBank

    SEE ALSO: It took only a year and a half for these 22-year-olds to build a billion-dollar company. Here's how they did it.

    Join the conversation about this story »

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