Quantcast
Channel: Business Insider
Viewing all 70894 articles
Browse latest View live

The Boy Scouts is reportedly considering bankruptcy amid sexual harassment lawsuits

$
0
0

boy girl scouts

  • The Boy Scouts of America may declare bankruptcy soon, according to the Wall Street Journal.
  • Chapter 11 bankruptcy may allow them to stall the sexual harassment lawsuits against the organization and settle with the victims.

The Boy Scouts of America is considering bankruptcy while it's fending off numerous sexual harassment lawsuits, according to the Wall Street Journal, which cited people familiar with the matter.

Bankruptcy would offer the organization some legal relief. It's currently battling several lawsuits filed by former scouts who allege that staff members or volunteers sexually abused or harassed them. A bankruptcy filing may allow the organization to ask judges to stall those lawsuits as it goes through the Chapter 11 process. During that period, it could potentially settle with the victims who sued.

In a statement provided to INSIDER, BSA Chief Scout Executive Mike Surbaugh said the organization was committed to compensating "victims who suffered abuse during their time in Scouting" and that it was working to stop future abuse.

"We care deeply about all victims of child sex abuse and we are steadfast in our belief that one incident of child abuse is one too many," Surbaugh wrote. "We sincerely apologize to anyone who was harmed during their time in our programs."

Boy Scout leadership has hired the law firm Sidley Austin law firm to handle its possible Chapter 11 filing, according to the Journal. The law firm didn't immediately respond to INSIDER's request for comment.

Read more:The Boy Scouts is officially changing its name to just 'Scouts' as it starts to accept girls

The sexual abuse allegations against the Boy Scouts of America stretches back decades, but the issue has become more pressing in recent years, partly because of the organization's slump in membership. Earlier this year, the organization announced it would begin accepting girls and change its name to Scouts BSA in a bid to attract more members.

This post has been updated with a statement from the Boy Scouts of America.

Correction: A previous headline for this article said that the Boy Scouts of America considered using bankruptcy to stop sexual harassment lawsuits. We have removed the language.

For more stories, head to INSIDER's homepage.

Join the conversation about this story »

NOW WATCH: A Harvard psychologist reveals the secret to curbing your appetite


Stephen Curry says his moon-landing comments were a joke

$
0
0

steph curry

  • Golden State Warriors point guard Stephen Curry said on Wednesday that his comments about not believing the moon-landing were a joke.
  • Curry said people who look up to him should make sure they do their homework after he was criticized for the influence his comments could have.
  • Curry also said he would accept NASA's invite to go to their facilities and see evidence of the moon landing.

Golden State Warriors point guard Stephen Curry on Wednesday told ESPN's Nick Friedell that his comments about not believing the moon landing were a joke.

Curry had said on The Ringer's "Winging It" podcast with Andre Iguodala, Kent Bazemore, and Vince Carter that he didn't think NASA's moon landing was real.

NASA responded on Tuesday by inviting Curry to their facilities and offering to show him moon rocks and tell him more about the expedition to the moon. Curry told Friedell that he would take NASA up on their offer.

"One thousand percent," Curry said. "Obviously I was joking when I was talking on the podcast."

Curry said he hadn't responded the coverage of his comments because he was "silently protesting" the outrage over it.

"I was silently protesting how stupid it was that people actually took that quote and made it law as, 'Oh my God, he's a fake moon landing truther,' whatever you want to call it, yada, yada, yada. So I was silently protesting that part about it, how the story took a life of its own."

Some criticized Curry for the comments, the latest in a developing trend of NBA players espousing conspiracy theories. Boston Celtics point guard Kyrie Irving had previously said he believed the Earth was flat. Cleveland Cavaliers guard Jordan Clarkson said he thought dinosaurs were pets for giant humans.

On Tuesday, ESPN's "Pardon the Interruption" hosts Tony Kornheiser and Michael Wilbon blasted Curry for his comments, calling them "embarrassing" and a segue into further historical denials about slavery and the Holocaust.

Read more: ESPN's Michael Wilbon and Tony Kornheiser blast Stephen Curry for saying the moon landing was fake: 'Does that mean you don't believe in slavery?'

Curry apologized for potentially misleading younger fans that look up to him and believe what he says.

"I am definitely going to take [NASA] up on their offer. I am going to educate myself firsthand on everything that NASA has done and shine a light on their tremendous work over the years. And hopefully, people understand that education is power, informing yourself is power. For kids out there that hang on every word that we say, which is important, understand that you should not believe something just because somebody says it. You should do your homework and understand what you actually believe."

Join the conversation about this story »

NOW WATCH: The true story behind the name 'Black Friday' is much darker than you may have thought

Amazon gifts must be ordered by these holiday shipping deadlines to guarantee they arrive in time for Christmas

$
0
0

The Insider Picks team writes about stuff that we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.

sfl amazon prime free two hour delivery miami baltimore 20150319

Everything seems to get more chaotic around the holidays — there's a rush at work and your calendar continues to fill up with events and parties to attend. Suddenly, it's the week before Christmas and you realize you forgot to find a gift. The good news is, you're not alone — plenty of us fall victim to last-minute gifting. You can still find thoughtful gifts that they'll appreciate, even just a few days before the holidays — we even have a list if you need some inspiration

So you don't need to worry about finding the right gift, but you do need to worry about making sure that gift ends up under the tree. Luckily, if you like to shop online, many retailers have "buy by" dates that let you know when you need to purchase a product to guarantee it arrives by December 25. 

Amazon is one of the major retailers that's released a detailed holiday delivery calendar.

It outlines what shipping options are available, and until when, to ensure delivery before Christmas. If you have Amazon Prime, you'll have a longer window for delivery. Even if you aren't a Prime member, you can sign up for a 30-day free trial of the service now, so you can take advantage of the holiday shipping options. The following dates only apply to the contiguous US, and of course, it's a good idea to double check the delivery dates in your cart at checkout to be sure you'll get your gifts in time.

  • Monday, December 17: Last day for standard shipping (Free for Prime members on qualifying orders. Learn more).
  • Saturday, December 22: Last day for Prime free two-day shipping (No minimum purchase. Learn more).
  • Sunday, December 23: Last day for Prime free one-day shipping (In select areas, on qualifying orders over $35. Learn more).
  • Monday, December 24: Last day for Prime free same-day delivery (In select areas, on qualifying orders over $35; items ordered before noon will arrive by 9 p.m. Learn more). Also the last day for free two-hour delivery with Prime Now (In select areas. Learn more).

Happy shopping!

Still shopping for gifts? Browse all of Insider Picks' 2017 holiday gift guides here, or scan this list:

Join the conversation about this story »

Amazon isn't necessarily killing brick-and-mortar retail — it could be saving it

$
0
0

amazon ceo jeff bezos blue origin

  • As Amazon continues to grow, traditional brick-and-mortar retailers are suffering losses.
  • However, contrary to the idea that Amazon is killing the retail industry, it could actually be saving it.
  • Amazon leverages data in smart ways to create exceptionally accurate profiles for shoppers — and this is a lesson that any retailer can learn from.
  • It's forcing the retail industry to become more efficient. The stores that survive will be the ones that adapt. 

For years, retail has been caught in a repetitive trend cycle: Amazon targets specific industries — pharmacies, book dealers, department stores, and grocers — and slays brick and mortar firms like Sears, JCPenney, Toys R Us, and Barnes & Noble. It's aggressive online growth has changed the stakes and put enormous pressure on traditional sellers.

However, the popular narrative that Amazon is the reason retailers are struggling is a fallacy. Amazon is not killing the retail business — it's saving it.

Amazon is holding a mirror up to retailers, forcing a bloated industry to become more efficient.

The most talked-about challenge facing many stores is dealing with their sprawling real estate footprints. Vast property holdings that were once considered hard assets are becoming dangerous liabilities.

The costs of sustaining these outposts is climbing fast as customers migrate online and downward pressure on prices makes it harder to profit from many locations. In 2017, retailers tried to cut their overheads and 105 million square feet of retail space closed across the U.S. — the most ever recorded.  

Retailers are also dealing with inefficiencies that have built up in their supply chains and promotional strategies over the years. Many large retailers started off as local businesses that grew regionally and then nationally. But inventory systems that function effectively for a dozen stores don't always scale up easily. Today's big retailers struggle to track what inventory they have, where it's located, and where it's going. The problems are small and hard to find, but dangerous in aggregate. In an industry with thin profit margins, full percentages of profit can be lost by poorly stocked shelves or badly targeted promotions – profit that could be reinvested in staff or technology upgrades.  

Set against this, Amazon has two fundamental strengths: First, it collects enormous quantities of data. Second, it deploys cutting-edge AI to make sense of it all.  

For Amazon, every customer interaction is a learning experience that helps the company further refine its eerily accurate profiles. It takes note of what each customer searched for, what they bought, and what they skipped.

The collection and sorting of that data is a massive undertaking on its own. But Amazon goes a step further: It not only knows what products are likely to sell, but it can predict how much of each item will sell, and in which geographical areas. Its AI algorithms are simply more efficient at determining what products are needed than any human-controlled system.

Amazon's AI also keeps the right amount of inventory at the right distribution hubs so the product gets halfway to you before you even click "order."

This is a gigantic competitive advantage for Amazon, but its lessons are transferable and retailers need to take note: Any company can get better at collecting and organizing customer data and drawing lessons from it.

That data, once properly analyzed and understood, can enable real-time decisions regarding inventory and logistics, ensuring the right products are available, eliminating waste, and helping the retailer stay competitive.

Take A.S. Watson Group, one of the world's largest health and beauty retailers – and, in full disclosure, a Rubikloud customer. The firm's global network of over 14,000 stores creates huge amounts of raw data, but it was struggling to use this trove of information to make its business more effective.

The only way to resolve the issue was to automate and improve its promotional planning, inventory allocation, general pricing, and loyalty management business processes using new AI machine learning applications. The Herculean task they undertook to tap into this data was difficult, but now, according to internal estimates, A.S. Watson Group expects their data clean-up to save about 38 percent over three years, compared with its previous processes.

The transition will be a jarring one for many companies – as it was for A.S. Watson Group – and not everyone will be able to successfully adapt. Retailers that wait too long to adopt new strategies risk falling so far behind that they will never be able to catch up. When the surviving retail giants of tomorrow look back, they'll know what they have to thank for their success: the Amazon model. 

Kerry Liu is the founder and CEO of Rubikloud, a Toronto-based AI technology company.

SEE ALSO: Here's why accepting billions of dollars in incentives for HQ2 could be dangerous for Amazon

Join the conversation about this story »

NOW WATCH: I cooked nothing but Blue Apron for a week and it was a roller coaster of emotions — here's why I won't be using the meal kit service anymore

The cofounder of a $1.9 billion design startup explains why his company is 'training' for an IPO that may never happen

$
0
0

Clark Valberg, CEO

  • On Tuesday, design platform InVision announced it has raised $115 million in series F funding. 
  • This year, the seven-year-old company will cross $100 million in annual recurring revenue, and CEO Clark Valberg says the secret is that the product has spread through the word of mouth in the design community.
  • InVision has no plans to go public as of now, but Valberg wants the company to work to become fit enough for larger markets.
  • "I think of IPO readiness as a business fitness, even if we never IPO," Valberg told Business Insider. "If we all train for the triathlon, we'd all look great, and we could cancel it at anytime and eat pizza."

InVision, a startup whose online design platform is used by Adidas, Starbucks and Ikea, has built a thriving business helping companies look their best in the eyes of customers.

So it's no surprise that as InVision closes a $115 million round of funding, CEO and cofounder Clark Valberg is focused on his company's appearance. Valberg wants to make sure InVision is able to perform like a business that's ready for an IPO so he's putting his seven-year-old company through a rigorous fitness regimen that he likens to training for a triathlon. 

"I'm not pushing for IPO," Valberg told Business Insider. "I think of IPO readiness as a business fitness: even if we never IPO, if we all train for the triathlon, we'd all look great, and we could cancel it at anytime and eat pizza."

After the most recent round led by Spark Capital and joined by Goldman Sachs and existing investors, InVision has raised a total of $350 million in venture funding. This gives the startup, which has no plans to go public at this time, a valuation of $1.9 billion. And this year, the company says it will cross $100 million in annual recurring revenue.

While the average person might not use InVision in daily life, InVision is the design platform behind the websites and apps of brands that people see everyday, such as Adidas, Amazon, IKEA, Netflix, Starbucks, Uber and more.

The secret is how InVision grew so fast is that its product often spreads through word of mouth, Valberg says. Designers use InVision, and if they like it, they recommend it to their other designer friends, and that's how the product proliferates quickly.

"Make sure [the product is] doing as much of the heavy lifting as possible," Valberg said. "If you have a significant sales team, try to get your product to do as much of the sale as possible."

When an app's design is good, the experience is seamless and people barely notice the design. But when it's bad, it's obvious. Whether it's having to click through too many pages or illegible fonts, bad design can cause a user endless frustration. Still, convincing some larger, older companies why design is important has been a challenge, Valberg says.

Big D companies and smaller D companies

At InVision, employees refer to companies that are design-forward "big D" companies, while companies where design is less of a priority are "smaller D" companies.

And when it comes to "smaller D" companies — oftentimes banks or financial institutions — InVision may have to send an entire design team over to explain in person why better app or website design can be the difference in millions more in revenue. These teams have to start a dialogue with the company and create some example design frameworks to win it over.

Read more: All 700 employees at this startup work remotely. Here's why one of its top execs says it's given them a major edge over the competition.

With its latest funding, InVision plans to invest in building a design community with educational resources for its customers, as well as double down on products like screen design tool InVision Studio, which was recently released in version 1.0 and has been downloaded hundreds of thousands of times.

For startups looking to create a sustainable business, Valberg advises that they focus on their product and improving relationships with customers. And of course, better design is a must.

"Ultimately, that customer experience lives on the screen," Valberg said. "The things that people like about your product are design qualities. It's an adventure. These things make or break. The rest of the market is waking up to the idea that design is a deciding factor in winning the heart and mind of every customer on the planet."

SEE ALSO: VMware's newest Amazon partnership proves that the $65 billion company can thrive in the cloud wars after all, says Wall Street

Join the conversation about this story »

NOW WATCH: The true story behind the name 'Black Friday' is much darker than you may have thought

Republicans shrug off Cohen implicating Trump in crimes as Democrats shout that no one is above the law

$
0
0

Michael Cohen and Donald Trump

  • Republicans have downplayed the fact President Donald Trump has been implicated in serious crimes by federal prosecutors and Michael Cohen. 
  • Democrats have said no one is above the law in response to the implications against Trump. 
  • On Wednesday, the president's former lawyer and fixer was sentenced to three years in prison for the nine charges to which he's pleaded guilty.

The difference between Republican and Democratic reactions to the sentencing of Michael Cohen and the potential legal repercussions for President Donald Trump could not be more stark.

A number of top Republican lawmakers have shrugged off the fact Trump has been implicated in serious crimes by his former personal lawyer and federal prosecutors. Meanwhile, Democrats have rallied behind the message that no one is above the law – not even the president. 

Republican Sen. Chuck Grassley on Wednesday said Cohen is a liar who cannot be trusted, echoing recent statements made by Trump. During a conference call with reporters, Grassley said, "To what extent do you want to put confidence in what a liar says?"

Read more:Here's a glimpse at Trump's decades long history of business ties to Russia

Republican Sen. Lindsey Graham, a close ally of Trump who will become chairman of the Senate Judiciary Committee in January, also downplayed Wednesday's developments. "Any time a former lawyer of yours goes to jail it's probably not a good day, but I have yet to see any evidence coming from Mr. Cohen of collusion,"Graham said

In an interview on the matter on Tuesday, Republican Sen. Orrin Hatch took things a step further when he said he did not care that federal prosecutors implicated Trump in felonies. 

"I don’t care, all I can say is he is doing a good job as president. ... I don’t think he was involved in crimes, but even then, you know, you can make anything a crime under the current laws if you want to,"Hatch said

Comparatively, Democrats have stopped just short of labeling Trump a criminal. 

Democratic Rep. Ted Lieu on Wednesday told CNN, "Michael Cohen specifically says that Donald Trump directed him to make these campaign-finance payments. That means we have a person sitting in the White House right now who is essentially an unindicted coconspirator."

Similarly, Democratic Rep. Adam Schiff tweeted saying Cohen's sentencing shows "nobody is above the law," including "the President himself."

Read more: Trump has been implicated in several federal crimes, but here's why experts say he hasn't faced legal consequences

Recent developments surrounding Cohen and Trump have also increased discussions on impeachment. 

Democratic Rep. Jerry Nadler, likely the next chairman of the House Judiciary Committee, told CNN on Sunday that the campaign-finance violations Cohen implicated Trump in would be "impeachable offenses."

"Whether they're important enough to justify an impeachment is a different question," Nadler added. 

Cohen pleaded guilty in August to eight federal crimes, including tax fraud, bank fraud, and campaign-finance violations. The campaign finance violations were related to hush-money payments to two women who said they had affairs with Trump. Cohen said he made the payments at Trump's direction in order to influence the election. 

Federal prosecutors in a sentencing memo last Friday endorsed Cohen's allegation, stating he made the payments "in coordination with and at the direction" of Trump. 

Justice Department policy says a sitting president cannot be indicted, but that is not settled law and there is now a broader discussion about what legal repercussions Trump might face moving forward.

More recently, Cohen also pleaded guilty to lying to Congress about his involvement in a plan to build a Trump Tower in Moscow. This came after a new plea deal with the special counsel Robert Mueller, who is investigating Russia's interference in the 2016 US presidential election and possible collusion between the country and the Trump campaign.

Trump denies collusion occurred, refers to the Mueller probe as a "witch hunt," and has called Cohen a liar

On Wednesday, the president's former lawyer and fixer was sentenced to three years in prison for the nine charges to which he pleaded guilty.

SEE ALSO: Michael Cohen says he felt it was his 'duty' to 'cover up' Trump's 'dirty deeds,' is sentenced to 3 years in prison

Join the conversation about this story »

NOW WATCH: Anthony Scaramucci claims Trump isn't a nationalist: 'He likes saying that because it irks these intellectual elitists'

Inside the Titanic II, a close replica of the 1912 Titanic cruise liner that could set sail in 2022

$
0
0

titanic

  • An Australian businessman has undertaken a $500 million project building a replica of the ill-fated 1912 Titanic cruise ship.
  • The design of the new vessel, dubbed Titanic ll, will be a close replica of the original, right down to the dimensions, architecture, and the layout of the rooms.
  • The ship will be able to accommodate 2,400 passengers and will feature modern day navigation technology and safety systems, including an adequate number of lifeboats and life jackets for passengers. 
  • Ticket prices are not yet available, but the ship could set sail as soon as 2022, USA Today reports.
  • Here's how sailing aboard the Titanic ll could compare to the original Titanic.

The story of the Titanic is one that has intrigued many for years — and for those who are most entranced, there may soon be a way to relive the glory and wonder of one of the most luxurious cruise liners in the world.

By 2022, a new ship modeled after the Titanic could set sail for 2,400 passengers, thanks to Australian businessman Clive Palmer, who shelled out $500 million for the project.

The Titanic ll, though outfitted with 21st century navigation and safety technology, will be a close replica of the original vessel.

Here's how sailing aboard the Titanic ll will compare to how passengers aboard the Titanic in 1912 traveled.

SEE ALSO: A $500 million replica of the original Titanic could set sail across the Atlantic in 2022

The RMS Titanic was the largest passenger ship of its time in the early 1900s, and the Titanic's builders called it "unsinkable."

Source: CNN



The ocean liner spanned 882 feet in length and was 106 feet wide.

Source: CNN



Compare that to the largest cruise ship today, and it's dwarfed in comparison. The Royal Caribbean's gargantuan "floating city" Symphony of the Seas runs 1,188 feet in length and spans 215 feet across at its widest part.

Source: Cruise Mapper



See the rest of the story at Business Insider

Three untapped opportunities wearables present to health insurers, providers, and employers

$
0
0

 

  • After a shaky start, wearables like smartwatches and fitness trackers have gained traction in healthcare, with US consumer use jumping from 9% in 2014 to 33% in 2018.
  • More than 80% of consumers are willing to wear tech that measures health data — and penetration should continue to climb.
  • The maturation of the wearable market will put more wearables in the hands of consumers and US businesses.

The US healthcare industry as it exists today is not sustainable. An aging patient population and rising burden of chronic disease have caused healthcare costs to skyrocket and left providers struggling to keep up with demand for care. 

FORECAST: Fitness Tracker and Health-Based Wearable Installed Base

Meanwhile, digital technologies in nearly every consumer experience outside of healthcare have raised patients’ expectations for good service to be higher than ever.

One of the key mechanisms through which healthcare providers can finally evolve their outdated practices and exceed these expectations is wearable technology.

Presently, 33% of US consumers have adopted wearables, such as smartwatches and fitness trackers, to play a more active role in managing their health. In turn, insurers, providers, and employers are poised to become just as active leveraging these devices – and the data they capture – to abandon the traditional reimbursement model and improve patient outcomes with personalized, value-based care.

Adoption is going to keep climbing, as more than 80% of consumers are willing to wear tech that measures health data, according to Accenture — though they have reservations about who exactly should access it.

A new report from Business Insider Intelligence, Business Insider’s premium research service, follows the growing adoption of wearables and breadth of functions they offer to outline how healthcare organizations and stakeholders can overcome this challenge and add greater value with wearable technology.

For insurers, providers, and employers, wearables present three distinct opportunities:

  • Insurers can use wearable data to enhance risk assessments and drive customer lifetime value. One study shows that wearables can incentivize healthier behavior associated with a 30% reduction in risk of cardiovascular events and death.
  • Providers can use the remote patient monitoring capabilities of wearable technology to improve chronic disease management, lessen the burden of staff shortages, and navigate a changing reimbursement model. And since 90% of patients no longer feel obligated to stay with providers that don't deliver a satisfactory digital experience, wearables could help to attract and retain them.
  • Employers can combine wearables with cash incentives to lower insurance costs and improve employee productivity. For example, The Greater Dayton Regional Transit Authority yielded $5 million in healthcare cost savings through a wearable-based employee wellness program.

Want to Learn More?

The Wearables in US Healthcare Report details the current and future market landscape of wearables in the US healthcare sector. It explores the key drivers behind wearable usage by insurers, healthcare providers, and employers, and the opportunities wearables afford to each of these stakeholders. 

By outlining a successful case study from each stakeholder, the report highlights best practices in implementing wearables to reduce healthcare claims, improve patient outcomes, and drive insurance cost savings, as well as how the evolution of the market will create new, untapped opportunities for businesses.

 

 

Join the conversation about this story »


How Alphabet, Amazon, Apple, and Microsoft are shaking up healthcare — and what it means for the future of the industry (GOOGL, AAPL, AMZN, MSFT)

$
0
0

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.

bii big tech in healthcare ALL Four

The healthcare industry is undergoing a profound transformation. Costs are skyrocketing, consumer demand for more accessible care is growing rapidly, and healthcare companies are unable to keep up. 

Health organizations are increasingly turning to tech companies to facilitate this transformation in care delivery and lower health expenditures. The potential for tech-led digital health initiatives to help healthcare providers and insurers deliver safer, more efficient, and cost-effective care is significant. For healthcare organizations of all types, the collection, analyses, and application of patient data can minimize avoidable service use, improve health outcomes, and promote patient independence, which can assuage swelling costs.

For their part, the "Big Four" tech companies — Google-parent Alphabet, Amazon, Apple, and Microsoft — see an opportunity to tap into the lucrative health market. These same players are accelerating their efforts to reshape healthcare by developing and collaborating on new tools for consumers, medical professionals, and insurers.

In this report, Business Insider Intelligence explores the key strengths and offerings the Big Four will bring to the healthcare industry, as well as their approaches into the market. We'll then explore how these services and solutions are creating opportunities for health systems and insurers. Finally, the report will outline the barriers that are inhibiting the adoption and usage of the Big Four tech companies’ offerings and how these barriers can be circumvented.

Here are some of the key takeaways from the report:

  • Tech companies’ expertise in data management and analysis, along with their significant compute power, can help support healthcare payers, health systems, and consumers by providing a broader overview of how health is accessed and delivered.
  • Each of the Big Four tech companies — vying for a piece of the lucrative healthcare market — is leaning on their specific field of expertise to develop tools and solutions for consumers, providers, and payers.
    • Alphabet is focused on leveraging its dominance in data storage and analytics to become the leader in population health.
    • Amazon is leaning on its experience as a distribution platform for medical supplies, and developing its AI-assistant Alexa as an in-home health concierge.
    • Apple is actively turning its consumer products into patient health hubs.
    • Microsoft is focusing on cloud storage and analytics to tap into precision medicine.
  • Health organizations can further tap into the opportunity presented by tech’s entry into healthcare by collaborating with tech giants to realize cost savings and bolster their top lines. But understanding how each tech giant is approaching healthcare is crucial.

 In full, the report:

  • Pinpoints the key themes and industry-wide shifts that are driving the transformation of healthcare in the US.
  • Defines the main healthcare businesses and strategies of the Big Four tech companies.
  • Highlights the biggest potential impacts of each of the Big Four’s healthcare strategies for health systems and insurers.
  • Discusses the potential barriers that will challenge the adoption of the Big Four tech companies’ initiatives and how these hurdles can be overcome.

Subscribe to a Premium pass to Business Insider Intelligence and gain immediate access to:

This report and more than 250 other expertly researched reports
Access to all future reports and daily newsletters
Forecasts of new and emerging technologies in your industry
And more!
Learn More

Purchase & download the full report from our research store

 

Join the conversation about this story »

Trust is the main barrier to smart speaker adoption – here's what companies can do about that

$
0
0

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here. Current subscribers can read the report here.

trust smart speaker makersSmart speakers comprise one of the fastest-growing device segments in the consumer technology market today. Ownership levels have nearly doubled from early 2017 to summer 2018. 

With this rapid growth, there are a few pivotal questions that both companies looking to develop and sell smart speakers as well as those looking to sell products, deliver media, and offer access to services like banking over these devices need answers to in order to craft successful strategies. In particular, they need to know who is and isn’t buying smart speakers, and what consumers who own smart speakers are actually doing with them. 

To offer these stakeholders insight, Business Insider Intelligence asked more than 500 US consumers about their knowledge of smart speakers, the devices they do or don’t own and what led them to their purchase decisions, as well as the tasks they’re using their smart speakers for.

In this report, Business Insider Intelligence will look at the state of the smart speaker market and outline how each of the major device providers approaches the space. We will then focus on the key factors that affect whether or not someone owns one of these devices. Next, we will use our survey data to outline the reasons why people don’t own devices in order to offer guidance for who to target and how. Finally, we will discuss what consumers are actually doing with their smart speakers — specifically looking at how the devices are used and perceived in e-commerce, digital media, and banking — which can help companies determine how well they’re publicizing their smart speaker services and capabilities.

The companies mentioned in this report are: Amazon, Google, Apple, Samsung, Facebook, Sonos, LG, Anker, Spotify, Pandora, Grubhub, Netflix, Hulu, Instagram, Snap.

Here are some key takeaways from the report:

  • Despite their growing popularity, nearly half of respondents still don't own a device — which presents a long runway for adoption. Our survey data reveals a number of key factors that impact whether or not someone owns one of these devices, including income, gender, and age.
  • Smart speakers are establishing themselves as a key platform for e-commerce, media, and the smart home.
  • The introduction of a screen to some smart speakers will expand the possibilities for companies developing for the device — but developers will need to resist the compulsion to use speakers to accomplish too much.

In full, the report:

  • Provides an overview of the key players and products in the smart speaker market.
  • Highlights critical adoption rates broken out by key factors that define the segment.
  • Identifies how consumers are using devices in important areas where companies in various industries are trying foster greater use of the voice interface.

Join the conversation about this story »

Nancy Pelosi says she's 'comfortable' with setting term limits for House speaker and reassures party critics

$
0
0

Nancy Pelosi

  • House Minority Leader Nancy Pelosi (D-California) said she is "comfortable" with setting term limits and agreed to serve no more than four years as speaker if elected.
  • The proposal is scheduled for a vote on February 15. If it passes, senior Democrats would be allowed to serve three two-year terms and an additional fourth term if a Democratic two-thirds majority votes to stay the course.
  • "I am comfortable with the proposal, and it is my intention to abide by it whether it passes or not," Pelosi said in a statement.

House Minority Leader Nancy Pelosi (D-California) said she is "comfortable" with setting term limits for senior leadership positions, and she agreed to serve no more than four years as speaker if elected, reassuring critics within the Democratic Party who have called for new leadership.

"Over the summer, I made it clear that I see myself as a bridge to the next generation of leaders, a recognition of my continuing responsibility to mentor and advance new Members into positions of power and responsibility in the House Democratic Caucus," Pelosi said in a statement on Wednesday.

"For some time, there have been a number of conversations to advance a proposal to institute term limits for senior leadership positions in our Caucus," Pelosi said. "I am comfortable with the proposal and it is my intention to abide by it whether it passes or not."

The proposal is scheduled for a vote on February 15. If it passes, senior Democrats would be allowed to serve three terms and an additional fourth term if a Democratic two-thirds majority votes to stay the course.

Nancy Pelosi

Read more: Meet the 2020 presidential contenders who are poised to start campaigning right away in 2019

Pelosi would need at least 218 votes on the House floor to become elected. Last month, Pelosi secured her nomination as speaker in a 203 to 32 vote. However, her role was not yet cemented after facing stiff opposition from a number of Democrats who campaigned for new leadership and "geographic diversity" within the party.

Rep. Seth Moulton (D-Massachusetts), who spearheaded the effort for new leadership, described the negotiations as "difficult" and "contentious," but he agreed with the proposal.

"The leaders of our caucus will no longer be determined by tenure and loyalty but by frequent and open elections, giving us a better chance to change and evolve as the country does," Moulton said in a statement.

"This process has given us the time to choose who we want to be as a party, not let inertia decide for us," Moulton added. "Now it's time to move forward as one. Nancy Pelosi showed real leadership by agreeing to these reforms."

Pelosi, the first woman to lead a majority party in Congress, previously served as speaker from 2007 to 2011.

SEE ALSO: Trump reportedly flicked a folder and scattered papers in anger after his fiery debate with Nancy Pelosi and Chuck Schumer

Join the conversation about this story »

NOW WATCH: Anthony Scaramucci claims Trump isn't a nationalist: 'He likes saying that because it irks these intellectual elitists'

Why competitive video gaming will soon become a billion dollar opportunity

$
0
0

eSports Advertising and Sponsorships

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.

What is eSports? History & Rise of Video Game Tournaments

Years ago, eSports was a community of video gamers who would gather at conventions to play Counter Strike, Call of Duty, or League of Legends.

These multiplayer video game competitions would determine League of Legends champions, the greatest shooters in Call of Duty, the cream of the crop of Street Fighter players, the elite Dota 2 competitors, and more.

But today, as the history of eSports continue to unfold, media giants such as ESPN and Turner are broadcasting eSports tournaments and competitions. And in 2014, Amazon acquired Twitch, the live streaming video platform that has been and continues to be the leader in online gaming broadcasts. And YouTube also wanted to jump on the live streaming gaming community with the creation of YouTube Gaming.

eSports Market Growth Booming

To put in perspective how big eSports is becoming, a Google search for "lol" does not produce "laughing out loud" as the top result. Instead, it points to League of Legends, one of the most popular competitive games in existence. The game has spawned a worldwide community called the League of Legends Championship Series, more commonly known as LCS or LOL eSports.

What started as friends gathering in each other's homes to host LAN parties and play into the night has become an official network of pro gaming tournaments and leagues with legitimate teams, some of which are even sponsored and have international reach. Organizations such as Denial, AHQ, and MLG have multiple eSports leagues.

And to really understand the scope of all this, consider that the prize pool for the latest Dota 2 tournament was more than $20 million.

Websites even exist for eSports live scores to let people track the competitions in real time if they are unable to watch. There are even fantasy eSports leagues similar to fantasy football, along with the large and growing scene of eSports betting and gambling.

So it's understandable why traditional media companies would want to capitalize on this growing trend just before it floods into the mainstream. Approximately 300 million people worldwide tune in to eSports today, and that number is growing rapidly. By 2020, that number will be closer to 500 million.

eSports Industry Analysis - The Future of the Competitive Gaming Market

Financial institutions are starting to take notice. Goldman Sachs valued eSports at $500 million in 2016 and expects the market will grow at 22% annually compounded over the next three years into a more than $1 billion opportunity.

And industry statistics are already backing this valuation and demonstrating the potential for massive earnings. To illustrate the market value, market growth, and potential earnings for eSports, consider Swedish media company Modern Times Group's $87 million acquisition of Turtle Entertainment, the holding company for ESL. YouTube has made its biggest eSports investment to date by signing a multiyear broadcasting deal with Faceit to stream the latter's Esports Championship Series. And the NBA will launch its own eSports league in 2018.

Of course, as with any growing phenomenon, the question becomes: How do advertisers capitalize? This is especially tricky for eSports because of its audience demographics, which is young, passionate, male-dominated, and digital-first. They live online and on social media, are avid ad-blockers, and don't watch traditional TV or respond to conventional advertising.

So what will the future of eSports look like? How high can it climb? Could it reach the mainstream popularity of baseball or football? How will advertisers be able to reach an audience that does its best to shield itself from advertising?

Business Insider Intelligence, Business Insider's premium research service, has compiled an unparalleled report on the eSports ecosystem that dissects the growing market for competitive gaming. This comprehensive, industry-defining report contains more than 30 charts and figures that forecast audience growth, average revenue per user, and revenue growth.

Companies and organizations mentioned in the report include: NFL, NBA, English Premier League, La Liga, Bundesliga, NHL, Paris Saint-Germain, Ligue 1, Ligue de Football, Twitch, Amazon, YouTube, Facebook, Twitter, ESPN, Electronic Arts, EA Sports, Valve, Riot Games, Activision Blizzard, ESL, Turtle Entertainment, Dreamhack, Modern Times Group, Turner Broadcasting, TBS Network, Vivendi, Canal Plus, Dailymotion, Disney, BAMTech, Intel, Coca Cola, Red Bull, HTC, Mikonet

Here are some eSports industry facts and statistics from the report:

  • eSports is a still nascent industry filled with commercial opportunity.
  • There are a variety of revenue streams that companies can tap into.
  • The market is presently undervalued and has significant room to grow.
  • The dynamism of this market distinguishes it from traditional sports.
  • The audience is high-value and global, and its numbers are rising.
  • Brands can prosper in eSports by following the appropriate game plan.
  • Game publishers approach their Esport ecosystems in different ways.  
  • Successful esport games are comprised of the same basic ingredients.
  • Digital streaming platforms are spearheading the popularity of eSports.
  • Legacy media are investing into eSports, and seeing encouraging results.
  • Traditional sports franchises have a clear opportunity to seize in eSports.
  • Virtual and augmented reality firms also stand to benefit from eSports.  

In full, the report illuminates the business of eSports from four angles:

  • The gaming nucleus of eSports, including an overview of popular esport genres and games; the influence of game publishers, and the spectrum of strategies they adopt toward their respective esport scenes; the role of eSports event producers and the tournaments they operate.
  • The eSports audience profile, its size, global reach, and demographic, psychographic, and behavioral attributes; the underlying factors driving its growth; why they are an attractive target for brands and broadcasters; and the significant audience and commercial crossover with traditional sports.
  • eSports media broadcasters, including digital avant-garde like Twitch and YouTube, newer digital entrants like Facebook and traditional media outlets like Turner’s TBS Network, ESPN, and Canal Plus; their strategies and successes in this space; and the virtual reality opportunity.
  • eSports market economics, with a market sizing, growth forecasts, and regional analyses; an evaluation of the eSports spectacle and its revenue generators, some of which are idiosyncratic to this industry; strategic planning for brand marketers, with case studies; and an exploration of the infinite dynamism and immense potential of the eSports economy.

Subscribe to an All-Access pass to Business Insider Intelligence and gain immediate access to:

This report and more than 250 other expertly researched reports
Access to all future reports and daily newsletters
Forecasts of new and emerging technologies in your industry
And more!
Learn More

Purchase & download the full report from our research store

Join the conversation about this story »

Federal prosecutors are blowing holes through all of Trump's defenses in the Michael Cohen case

$
0
0

Michael Cohen

  • President Donald Trump finds himself facing mounting legal and political trouble in the face of his former lawyer's admission that he committed campaign finance violations that may have impacted the 2016 election at Trump's direction.
  • Cohen was sentenced to three years in prison for his crimes, and the nature of the offenses is putting more pressure on Democratic lawmakers, who will control the House in January, to explore impeachment.
  • The timing of Cohen's actions and Trump's alleged involvement, said one Department of Justice veteran, "show a pattern of purposeful concealment with the sole intent of hiding the truth from the electorate a month before the election."
  • Another legal scholar said that while he doesn't believe these crimes themselves warrant impeachment proceedings, "six months from now if there have been nine more indictments, three more bombshell revelations, and a Mueller report, that could look very different."

Michael Cohen, President Donald Trump's former longtime lawyer, was sentenced to three years in prison in the Southern District of New York on Wednesday, after pleading guilty to tax evasion, bank fraud, and campaign-finance violations earlier this year.

The same day, federal prosecutors announced that they had reached a non-prosecution agreement with American Media Inc., the parent company of the National Enquirer, which spent $150,000 to purchase the rights to, but not publish, the account of model Karen McDougal, who alleged to have had a 10-month affair with Trump. 

Cohen admitted to violating election law, saying it was at Trump's direction. But Trump's attorneys argue that Cohen's payments to buy the silence of McDougal and the porn star Stormy Daniels, who Cohen paid $130,000 in October 2016 to cover up her alleged affair with Trump, were a "simple private transaction" and do not constitute campaign finance violations because they were made to protect Trump's family and businesses. 

But election law experts and former federal prosecutors are less convinced of that claim. 

"The timing and surrounding facts, which include a NPA with the Enquirer, show a pattern of purposeful concealment with the sole intent of hiding the truth from the electorate a month before the election," Jeffrey Cramer, a longtime former federal prosecutor in Chicago, told INSIDER. 

Michael Cohen

'One by one, the career DOJ prosecutors are removing possible Trump defenses'

Both Trump and Republican members of Congress have downplayed the significance of the campaign finance violations, asserting that all federal candidates make paperwork mistakes and citing Obama being fined by the Federal Election Commission for reporting errors in his financial disclosures for his 2008 presidential campaign.

But Rick Hasen, a law professor at the University of California at Irvine and campaign-finance expert, drew a distinction, telling CNN that the Cohen payoffs were "not in the same league" as the Obama campaign's errors.

"When you are dealing with a $1 billion operation, there are going to be some clerical mistakes," he said of Obama's campaign. 

Cramer agreed.

"An administrative error or taking a few thousand dollars over the legal limit are violations, but nobody should go to prison," he said.

In Cohen's and Trump's case, he added, "the fact that it could have influenced an election is certainly part of the calculus in taking this criminal versus civil route."

Trump's lead attorney, Rudy Giuliani, cited the case of former US Senator John Edwards when defending Trump. Edwards was indicted for exceeding campaign contribution limits and filing false disclosures to pay off a woman with whom he had an extramarital affair and a child.

Edwards claimed that the payments, which were made as he was ending his 2008 presidential campaign, were intended to protect his family. A jury ultimately acquitted Edwards on one count and declared a mistrial on the others. 

But the non-prosecution agreement with AMI says the company"further admitted that its principal purpose in making the payment was to suppress the woman’s story so as to prevent it from influencing the election." 

"One by one, the career DOJ prosecutors are removing possible Trump defenses," wrote former US solicitor general Neal Katyal. "Now it isn’t just Cohen, but also AMI, saying these hush money payments were made to influence the 2016 Presidential election, and knock out the so-called 'Edwards defense.'"

Cramer echoed that view.

"This is not the same as the John Edwards case," he said. "Difference of timing and intent."

trump huawei

'A crime against the political process'

Justice Department guidelines advise against indicting a sitting president, citing Congress' oversight role and ability to impeach the president as a mechanism to hold an executive accountable for "high crimes and misdemeanors." 

Read more: Trump has been implicated in several federal crimes, but here's why experts say he hasn't faced legal consequences

Jens David Ohlin, a vice dean at Cornell Law School and an expert on criminal law, told INSIDER the "conspiracy to violate campaign finance laws is, like the Russian interference, evidence that the political process was severely disrupted."

"What unites these together is a crime against the political process and one that might demand the ultimate political response from House Democrats: impeachment," he added.

While Democrats have been wary up until now of discussing possible impeachment, the implications of the campaign-finance violations that prosecutors say he directed — and which some scholars suggest may have propelled him to the presidency — prompted some Democrats to say they were open to exploring impeachment.

Rep. Jerry Nadler of New York, who will likely become chairman of the House Judiciary Committee in January, told the New York Times in a recent interview that he plans to investigate the election law violations and determine if they are "serious enough" to warrant impeachment.

Rep. Adam Schiff, who will likely be chairman of the House Intelligence Committee, wrote on Twitter that"[Cohen's] sentencing today demonstrates that nobody is above the law. Not the personal lawyer to the President of the United States. Or the President himself."

Read more:There really aren't too many Democrats in Congress who want to impeach Trump

Meanwhile, Bloomberg reported Wednesday that other House Democratic leaders such as presumed incoming Speaker Nancy Pelosi and incoming majority leader Steny Hoyer are facing mounting pressure to explore impeachment as more legally problematic information involving Trump and his campaign trickles out. 

Rep. Steve Cohen of Tennessee, who introduced impeachment articles in 2017, told Bloomberg that evidence of campaign finance fraud "is going to be such that they will have no choice but to support impeachment."

Nancy Pelosi

Democrats may hold back now, but things 'could look very different' down the road

Andy Wright, a former Associate White House Counsel to President Barack Obama and Assistant Counsel to Vice President Al Gore, told INSIDER in a Wednesday phone interview that while members of Congress may be hesitant to impeach now, "the evidence is starting to stack up that the president was involved in criminal activity."

At the same time, he said, "you have to weight that against the very incendiary nature of impeachment, which is a reversal of an election."

Wright added that while Cohen's admissions and sentencing represents a "clear-cut case of potential criminal conduct" and raises the likelihood that Trump will be impeached, "I don't think we've gotten to the tipping point yet, where there's a bipartisan supermajority that's going to remove the president from office, in the Senate certainly."

"If you hold everything constant now, it probably wouldn't be the right calculus for the Democrats to move forward with impeachment," he said. "But six months from now if there have been nine more indictments, three more bombshell revelations, and a Mueller report, that could look very different."

Join the conversation about this story »

NOW WATCH: Anthony Scaramucci claims Trump isn't a nationalist: 'He likes saying that because it irks these intellectual elitists'

7 details you may have missed on the fall finale of 'Riverdale'

$
0
0

riverdale jelly bean jughead archie

Warning: Spoilers ahead for season three, episode eight of "Riverdale," titled "Outbreak."

No one is safe after Wednesday's episode of "Riverdale" 

During the mid-season finale of the hit CW series, Archie heads into Canada to hide from Hiram, Riverdale is under quarantine, FP and Jughead can't get back into their hometown, and Hiram is revealed to be in cahoots with the Gargoyle King

But not everything went horribly for the town's residents. Cheryl and Toni are moving in together, Betty and the other youths escaped from the Sisters of Quiet Mercy after learning about the history of "Gryphons and Gargoyles," and fans finally got to meet Gladys and Jellybean Jones.

As always, the CW show included some pop culture and comic references. We worked with Archie Comics to find seven details you may have missed.

The episode title "Outbreak" comes from the 1995 movie of the same name.

"Outbreak" was about an outbreak of a fictional virus that affected a small town in California which was then quarantined by the Army, sort of like Riverdale being quarantined.



Jellybean is Jughead's sister from the comics.

In the original comics, Forsythia "Jellybean" Jonesis Jughead's baby sister. 



Gladys is Jughead's mom in the comics.

Gladys doesn't work on cars in the comics and is often shown trying to get Jughead to do his chores and help around the house. 



See the rest of the story at Business Insider

How healthcare providers can transform their services to meet the evolving needs of digital consumers before, during, and after care (TGT, CVS, WMT)

$
0
0

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here. Current subscribers can read the report here.

US Patients Are Foregoing Traditional Hospital Services for Urgent and Retail Care Clinics

The consumerization of healthcare — a fundamental shift in patients’ preferences, behaviors, and demands around healthcare services — is threatening hospitals' bottom lines. For the first time, patients are transforming from passive recipients of healthcare services to active participants in their own health. They're flocking to online review sites to choose which doctor to see, skipping hospital visits in favor of a health clinic in their local CVS, and aren't afraid to ditch providers that don't offer them an engaging experience.

The superior customer service expectations of millennials, declines in hospital profitability, and threats from startup providers and retail pharmacies intensify the need for providers to revamp the patient experience. Providers' current engagement capabilities are weak, and deficiencies around scheduling, appointment wait times, and billing are dragging on patient satisfaction, driving patients elsewhere and draining provider revenue.

In this report, Business Insider Intelligence explores the trends that are driving providers to revamp their care services. We then outline how patients' expectations for transparency, convenience, and access are transforming the way they interact with providers across each stage of care. Finally, we detail strategies health systems and hospitals can implement to create a consumer-centric patient experience that fosters satisfaction, loyalty, and patient volume. 

The companies mentioned in this report are: 98point6, BayCare, Cleveland Clinic, CVS, Integris, Kaiser Permanente, Luma Health, New York-Presbyterian, One Medical, Publix, Target, Walgreens, Walmart, Yelp, and Zocdoc.

Here are some of the key takeaways from the report:

  • The consumerization of healthcare is redefining how consumers engage with providers across each stage of care. 
  • But the vast majority of healthcare providers haven’t sufficiently altered their services to align with current patient expectations. Only 8% of US hospitals and health systems demonstrate strong consumer-centric performance, per a 2018 Kaufman Hall survey.
  • Failure to react to patient preferences hurts provider organizations’ bottom lines. US hospital profit margins are already thinning, and an emerging reimbursement model that ties a portion of providers' compensation to patient satisfaction means providers can't afford to preserve the status quo. 
  • Alternative players with consumer-focused healthcare services threaten to poach patients from traditional health systems. Tech-focused primary care startups, like One Medical and 98point6, and retail outlets, like Target, Walmart, and CVS, offer patients on-demand access to healthcare providers via mobile apps and convenient locations to receive healthcare services, drawing them away from incumbent health systems.
  • In order to retain patients — and keep them from straying to alternative care services — providers must transform their services with an emphasis on transparency, access, and ongoing engagement outside of the clinic. 
  • Healthcare providers that tailor their services to the new healthcare consumer will be well positioned to see growth. Alternatively, businesses that don’t implement these changes could find themselves falling behind the rest of the industry or closing their doors for good.

In full, the report:

  • Details how patient behavior, preferences, and expectations have changed.
  • Outlines the demographic and industry trends that should add a sense of urgency for providers to revamp the patient experience.
  • Summarizes how the patient experience providers currently offer isn't conducive to loyalty and is likely driving patients to nonhospital services.
  • Explains strategies health systems and hospitals can implement to create a consumer-centric patient experience that fosters satisfaction, loyalty, and patient volume. 
  • Offers examples of provider organizations that have successfully adopted new strategies to encourage patient-doctor communication, improve satisfaction, and drive scheduling capacity.

 

SEE ALSO: Top 5 Healthcare Startups & Digital Health Tech Disruptors in 2018

Join the conversation about this story »


'Riverdale' fans finally know how the deadly role-playing game 'Gryphons and Gargoyles' started

$
0
0

Griffins and Gargoyles

Warning: Spoilers ahead for season three, episode eight of "Riverdale."

"Gryphons and Gargoyles" (G&G) is a dangerous game on "Riverdale." 

The role-playing game, similar to "Dungeons and Dragons," is behind five deaths so far — RIP Dilton, Ben, Principal Featherhead, Warden Norton, and Joaquin — and it's sure to affect more residents as the third season of the hit CW show progresses.

Betty and Jughead are working to uncover the mystery surrounding the game, and during Wednesday's mid-season finale, Betty learned just how exactly the game started. 

Here's what we know.

The first introduction of the game was mysterious. 

Dilton Jughead Ben riverdale

During the season three premiere, Jughead tries to ask Ben and Dilton what they are playing at Pop's Diner. Dilton tries to answer, but all he gets out is "Gryphons and..." before Ben tells him to shut up.

Later, when Jughead is preparing to go to Archie's trial, Dilton knocks on Jug's door in a panic.

"Ben and I thought it was just a game, a stupid role-playing game, but it's not," he says. "It's so much more. He's real."

When Jughead asks who, Dilton eventually responds with, "The Gargoyle King."

Paper covered in weird symbols and stick creatures found in Jughead's home lead him to the woods where he finds Ben and Dilton unresponsive and kneeling in front of an altar with symbols carved into their backs and chalices next to their bodies. Dilton dies in the park due to cyanide consumption. Ben recovers in the hospital but then says he isn't afraid to "ascend" like Dilton was and leaps to his death out of the window.

Betty and Jughead learn that Ethel is also playing the game and confront her about it. They learn about Dilton's secret bunker in the woods, and upon exploring the bunker, they discover that the poisoned chalice Ben and Dilton drank from is part of "G&G." 

Ethel reveals that the rulebook is referred to as the "scripture."

How is the game played? 

Ethel riverdale

When Betty and Jug explore the bunker for the first time, they find coins with the Gargoyle King on them, drawings of the king, and various knick-knacks from the game.

The game consists of dice and quests that the players must complete. The players pick characters, follow quest cards, listen to the game master, and sometimes, they dress up in costumes to match their characters.

On the flashback episode, the parents find the game in a teacher's desk and play it. It's made clear that the game master designs the quests and game board and incorporates them into the real world. 

Read more: 'Riverdale' fans finally know what the parents' big secret is and there's a murder involved

the midnight club riverdaleIn present day, Jughead goes to the bunker and meets Ethel to play the game. She is dressed in her Princess Etheline gown and has him choose a character. He picks the Hellcaster.

"Good choice," she says. "That was Ben's avatar. I was supposed to ascend with him but then he betrayed me and finished the game with Dilton instead." 

After getting through part of the game, Ethel presents Jughead with two chalices. When he incredulously asks if one of them is poisoned, she says it's "gargoyle blood." He drinks it to get the manual and is fine. But before she hands it over to him, she makes him kiss her because it's all part of the "scripture." 

Ethel then drinks from the other chalice and starts to get ill. He saves her life by getting her to the hospital. She denies being suicidal and then threatens Jughead if he spills the secrets. 

"I told him you were worthy enough to spread his gospel," she tells him. 

The Gargoyle King himself is a terrifying creature who seems to be behind the rules of the game, but his exact tie to the game is unknown. 

The game has more of a history than previously expected. 

Ethel Gryphons and Gargoyles the sisters riverdale

During the mid-season finale, Ethel and Betty discover that "G&G" was created by patients at the Sisters of Quiet Mercy." 

Betty figures out that the Gargoyle King sightings in the group home are brought on by hallucinations from Fizzle Rocks. She convinces Ethel to believe her, and the two take Sister Woodhouse hostage. They take her to the Gargoyle King's "chambers" and demand answers about the king, the game, and Hiram's involvement. 

Read more: Everything we know about the mysterious group home the Sisters of Quiet Mercy on 'Riverdale'

"Misbehaving children have been brought to this room since the asylum opened. That statue scared them into submission," Woodhouse says of the basement room and gargoyle statue. "Some of them, the more disturbed ones, created a fantasy realm, a game, to cope with the fear of the one they named "the Gargoyle King." 

Read more: Everything we know about the 'gruesome' Gargoyle King on 'Riverdale'

She continues: "We embraced it as a therapeutic tool, and it worked because it embeds itself in the minds of the players. It makes them complacent, focuses them." 

Betty asks her how the game could have gotten out of the group home.

"It was never meant to leave these walls," Woodhouse says. "It's too powerful, a game born of madness."

Jughead has a theory.  

jughead riverdale

During the earlier episodes of season three, someone, possibly Ethel, distributed a manual to every student's locker at Riverdale High.

"By next weekend, almost every student at Riverdale High would be playing 'Gryphons and Gargoyles,' and the real game was just beginning," Jughead says.  

As Jughead plays the game, he becomes a level three-game master and leads his players on quests. When Betty goes to tell him about their parent’s secret, he tells her that he is working to ascend and meet the Gargoyle King.

He says that their parents playing the game means that his theory is correct: "We have been playing this game for a lot longer than we know and off board."

He says the gang fights and struggles they have had to deal with are all just part of the game. He also points out an interesting fact about the game's location. 

"Eldervair, the realm of 'Gryphons and Gargoyles' is an anagram for Riverdale," he said. "The whole game is an analog for Riverdale. The game only exists in Riverdale, that's why we couldn't find it on the web. It's all connected. It's all one big narrative that's still being written and played." 

When Jughead and Archie find themselves in the town of Athens, Jughead finds a group of kids playing "G&G." That means the game is expanding more than they could have anticipated. As for who spread the game to the masses is still unknown, but we know that "G&G" isn't going away any time soon. 

Read all of our "Riverdale" coverage here.

"Riverdale" returns in January 2019. 

Visit INSIDER's homepage for more.

Join the conversation about this story »

NOW WATCH: The reason some men can't grow full beards, according to a dermatologist

2019 will be an extraordinary year in space. Here's what NASA, SpaceX, and the night sky have in store for planet Earth.

$
0
0

big falcon rocket bfr spaceship bfs booster bfb launch clouds earth spacex 30934146988_dd61f74911_o

  • The 2019 calendar is full of major events in spaceflight, planetary science, and astronomy.
  • SpaceX and Boeing hope to launch NASA astronauts inside commercial spaceships for the first time next year.
  • Elon Musk may also conduct a test launch of his rocket company's "Starship" spacecraft.
  • Plus, humanity will make its farthest-ever visit to a planet-like object, and China intends to return its first lunar soil samples to Earth.
  • Meteor showers, total lunar and solar eclipses, and other night-sky events will also grace our planet.

When it comes to events in space, 2019 is going to be an extraordinary year.

That's not to say 2018 will be an easy act to follow. After all, SpaceX debuted the world's most powerful operational launch system (called Falcon Heavy), sent a car beyond Mars, and helped lift off more orbital rockets than in any year since 1990.

With a fewexceptions, NASA also had a momentous 12 months: The US space agency announced its first-ever commercial astronaut crews, began a new hunt for Earth-like planets, sent a probe to "touch" the sun, and landed its InSight robot on Mars.

China, meanwhile, crashed an old space station into the ocean and launched a small fleet of moon satellites.

But 2019 will be a doozy — a sentiment that NASA administrator Jim Bridenstine highlighted after NASA's recent Mars landing.

"Right now at NASA, there is more underway than in I don't know how many years past," Bridenstine said during a live broadcast. "It's a drought, and then all of the sudden there's all of these activities."

Here are some of the biggest events you can expect from aerospace companies, government space agencies, and the night sky next year.

This story has been updated with new information. It was originally published on November 29, 2018.

SEE ALSO: The most mind-blowing space and astronomy pictures of 2017

DON'T MISS: A 'mind-boggling' telescope observation has revealed the point of no return for our galaxy's monster black hole

January 1: NASA's New Horizons probe will fly by Ultima Thule, the farthest object humanity has ever tried to visit

After NASA's New Horizons spacecraft flew past Pluto in July 2015, the robot kept going. The space agency now plans to use the nuclear-powered probe to visit an icy body called Ultima Thule, or 2014 MU69. The object is in the Kuiper Belt, about 4 billion miles from Earth, and researchers think it's a peanut-shaped rock.

Overnight on December 31, 2018 — New Year's Eve — and into January 1, New Horizons will fly by, study, and photograph the mysterious object. Scientists estimate that it's perhaps 20 miles long and 12 miles wide (roughly the size of a city). New Horizon's flyby will make Ultima Thule the most distant object ever visited by humanity.



January 3: China becomes the first nation to land on the far side of the moon

China is pursuing an aggressive lunar-exploration campaign called Chang'e (the name comes from a moon goddess). It started with the moon orbiter Chang'e-1, which launched in October 2007. Two more missions after that included landers, a rover, relay satellites, and microsatellites.

Chang'e-4 launched on December 7 and will attempt to set down a new lander and rover on the far side of the moon on  2018.



January 3-4: The Quadrantids meteor shower peaks

In 2019, bright moonlight won't get in the way of obfuscating this annual meteor shower. The event starts to peak around 9 p.m. EST on January 3 and lasts through dawn the next day. The Quadrantids can produce 50 to 100 meteors per hour, according to EarthSky— but you need to find a dark night sky to see more than a meteor per minute.



See the rest of the story at Business Insider

These were the biggest developments in the global fintech ecosystem over the last 12 months

$
0
0

This is a preview of a research report from Business Insider Intelligence,  Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.

mobile banking features

In recent years, we've seen a ballooning of activity in fintech — an expansive term applied to technology-driven disruptions in financial services. And 2018 has been no different, with fintechs' staggering influence on the market evidenced by record funding levels for the industry — by Q3 2018, overall funding was already up 82% from 2017’s total figure, according to CB Insights.

Additionally, this year marked a watershed moment for the industry, with the once clear distinction between fintechs and financial services proper now blurred significantly. Virtually every incumbent financial institution (FI) is now looking inward and engaging in an innovation drive, spurred on by competition from fintechs. As such, incumbents are now actively investing in, acquiring, and collaborating with their fintech rivals.

In this report, Business Insider Intelligence details recent developments in fintech funding and regulation that are defining the environment these startups operate in. We also examine the business model changes being employed among different categories of fintechs as they strive to embed themselves further in mainstream finance and prove sustainability. Finally, we consider which elements of the fintech industry are rapidly rubbing off on incumbent financial services providers, and what the future of fintech will look like.

The companies mentioned in this report are: Funding Circle, GreenSky, Transferwise, Ant Financial, Nubank, Cellulant, Oscar Health, Stripe, One97, UiPath, LianLian Pay, Wacai.com, Gusto, Toast, PingPong, Flywire, Deposit Solutions, Root, Robinhood, Atom, N26, Revolut, OneConnect, PolicyBazaar, WeCash, Zurich, OneDegree, Dinghy, Vouch Insurance, Laka, Cleo, Ernit, Monzo, Moneybox, Bud, Tandem, Starling, Varo Money, Square, ING, Chase, AmEx, Amazon, Monese, Betterment, Tiller Investments, West Hill Capital, Square, Ameritrade, JPMorgan, eToro, Lendy, OnDeck, Ripple, Quorom, Chain, Coinbase, Fidelity, Samsung Pay, Google Pay, Apple Pay, Bank of America, TransferGo, Klarna, Western Union, Veriff, Royal Bank of Scotland, Royal Bank of Canada, Facebook, ThreatMetrix, Relx, Entersekt, BNP Paribas, Deutsche Bank, Gemalto, Lloyd's of London, Kingdom Trust, Aviva, Symbility LINK, eTrade, Allianz, AXA, Broadridge, TD Bank, First Republic Bank, BBVA Compass, Capital One, Silicon Valley Bank, Credit Suisse, Ally, Goldman Sachs.

Here are some of the key takeaways from the report:

  • Fintech funding has already reached new highs globally in 2018, with overall funding hitting $32.6 billion at the end of Q3.
  • Some new regions, including South America and Africa, are emerging on the fintech scene.
  • We've seen considerable scaling in older corners of the fintech ecosystem, including among neobanks and alt lenders.
  • Some fintechs, including a number of insurtechs, have dipped into new markets to escape heightened competition.
  • Emergent areas like blockchain and distributed ledger technology (DLT), as well as digital identity, are gaining traction.
  • Many incumbents are undertaking business transformations that aim to reimagine everything from products and services to front-end systems and back-end processes.

 In full, the report:

  • Details the funding and regulatory landscape in the US, Europe, and Asia.
  • Gives an overview into a number of fintech segments and how they've changed over the past year.
  • Discusses how incumbents are reacting to fintechs in order to stay relevant in the changing financial services sector.
  • Evaluates what the future of fintech will look like and what trends to look out for in the coming year.

Subscribe to a Premium pass to Business Insider Intelligence and gain immediate access to:

This report and more than 250 other expertly researched reports
Access to all future reports and daily newsletters
Forecasts of new and emerging technologies in your industry
And more!
Learn More

Purchase & download the full report from our research store

 

SEE ALSO: How the largest US financial institutions rank on offering the mobile banking features customers value most

Join the conversation about this story »

Trump is failing to achieve one of the biggest goals of his trade war, and he only has himself to blame

$
0
0

donald trump chuck schumer

  • President Donald Trump wanted to use tariffs to help bring down the trade deficit with China.
  • The US-China trade deficit hit a record high in the month of October.
  • According to economists from Goldman Sachs, Trump's tariffs on Chinese goods are actually making the trade deficit worse.

One of the President Donald Trump's biggest goals for the trade war was to reduce the US's trade deficit with China. But according to Goldman Sachs, the president is only making it worse.

The most recent trade report from the US Census Bureau showed that the US's trade deficit with China once again hit a record for the month of October — after also hitting a record the previous month. This string of record-high deficits seems to run counter to Trump's stated mission for tariffs on roughly $250 billion worth of Chinese goods.

But according to Goldman Sachs economists Blake Taylor and Alec Phillips, the ever-increasing US-China trade deficit is actually because of the tariffs.

"The trade deficit with China stands at an all-time high," the pair wrote in a note to clients on Thursday. "Exports declined sharply on a seasonally adjusted basis, extending their decline since retaliatory tariffs started to take effect in July, and imports continued to rise further. Unsurprisingly, we find that recently imposed tariffs have played a role in these changes."

The economists said there are two big reasons the tariffs are making the ever-growing trade deficit even worse.

A rush of imports

The first issue is that the US appetite for goods with China has gone unabated since the start of the trade war — in part due to the strong American economy, but also because US companies are pulling ahead purchases of Chinese goods that could be subject to tariffs before the duties hit.

Taylor and Phillips pointed out that imports jumped of items that were set to be hit with a third round of tariffs shortly before those tariffs were imposed.

"Imports of goods subject to Round 3 tariffs rose moderately in July, August, and September as further tariffs appeared increasingly likely," the economists said. "The value of imports then declined in October after tariffs took effect."

Read more:Trump's trade war with China is the biggest threat to the US economy in 2019, and it's making economists the most worried they've been in years»

Exports tanking

At the same time, exports to China have fallen off a cliff.

"US exports to China continued their sharp decline, a trend in place since the tariffs took effect over the summer," Taylor and Phillips said. "Declining exports alongside modestly increasing imports pushed the trade deficit with China to an all-time high in October."

Screen Shot 2018 12 13 at 4.16.58 PM

The economists said the drop in exports was mostly the result of large drop for a handful of key items — primarily soybeans. US farmers sent just under $14 billion worth of soybeans to China in 2017. Since the tariffs went into place, Chinese purchases of soybeans have all but dried up.

"US soybean exports are highly seasonal, with about 60% of annual exports to China occurring in Q4 and about 25% in October," Phillips and Taylor wrote. "Excluding soybeans, exports to China are only modestly lower on a seasonally adjusted monthly basis."

Screen Shot 2018 12 13 at 4.29.18 PM

This means Wednesday's soybean purchases by Chinese companies, which totaled somewhere between 1.5 million and 2 million metric tonnes (about the average weekly pace this time of year), could help to alleviate some of the gap.

But despite promising signs coming out of Trump's meeting with Chinese president Xi Jinping at the G20 summit, the threat of further escalation looms. On March 1, the 10% tariff on $200 billion worth of Chinese goods hit as part of the third round is set to be increased to 25%, a slight delay from the original January 1 deadline.

"While we think it is a close call, we believe it is slightly more likely that negotiations will fall short of what is necessary for a further delay," Taylor and Phillips said. "In light of this uncertainty, importers might once again front-load imports in January and February ahead of the potential step up."

SEE ALSO: Trump's trade team spent days building a strategy to deal with the Huawei CFO arrest. Then Trump blew it up in a single interview.

Join the conversation about this story »

NOW WATCH: Anthony Scaramucci claims Trump isn't a nationalist: 'He likes saying that because it irks these intellectual elitists'

The co-founder of $725 million cloud startup Mesosphere is stepping aside as CEO to make way for a Symantec veteran

$
0
0

mesosphere ceo mike fey

  • Mesosphere, most recently valued at $725 million in a funding round this year, is getting a new CEO.
  • Founder Florian Leibert is stepping aside to make way for Mike Fey, most recently COO of Symantec.
  • Leibert had previously announced his intention to find his own replacement.
  • Fey sees a lot of opportunity in bringing Mesosphere's software to larger customers, to help them manage their server and cloud infrastructure. 
  • Fey says he was first intrigued by Mesosphere's all-star roster of investors, which include Khosla Ventures, Microsoft, Andreessen Horowitz, T. Rowe Price, and Hewlett Packard Enterprise.

Earlier this year, cloud startup Mesosphere raised $125 million, bringing its total funding to just shy of $250 million. That deal valued Mesosphere at $725 million, according to Bloomberg, up from $600 million in 2016. 

Now, Mesosphere co-founder Florian Leibert is following through on his previously-announced intention to step aside as CEO, to take a new role focused on strategy and working with customers. Replacing him will be Mike Fey, most recently president and COO of Symantec, in a move that the company says will help it achieve the next stage of growth by going after larger customers. 

"I realized this was one of the few things that could impact the future in a meaningful way," Fey told Business Insider in an interview on Thursday. 

Mesosphere once famously turned down an acquisition offer from Microsoft, after which some pundits started to theorize that the company was doomed. But Fey says that Mesosphere is growing fast, and it's his intention to keep on building momentum as an independent company. 

"I didn't come here to sell it short," Fey says. "I came here to build something special." 

mesosphere ceo florian leibert

What first attracted him to Mesosphere, Fey says, is its all-star roster of investors, including T. Rowe Price, Andreessen Horowitz, Microsoft, Hewlett Packard Enterprise, Khosla Ventures, and even Koch Industries, who have sunk just shy of $250 million into the company in total. 

"That led me to take it very seriously," Fey says.

With his interest piqued, Fey first met with Leibert in October, and ultimately decided that it was the logical next move for him. Leibert, for his part, was excited to hand off the reins after 5 years as chief exec, and spend more time working with customers and thinking about what's next for the company. 

What's next for Mesosphere

Last year, the company said it was on a $50 million annualized run rate, a measure of how much revenue it expects to book over the next 12-month period. While Mesosphere declines to share new numbers today, Leibert has said that its revenue triples every year. 

Read more: This startup famously turned down an acquisition offer from Microsoft — now it's a $50 million business

Mesosphere's flagship product is DC/OS, or the Data Center Operating System. The general principle behind DC/OS is that it should be as easy for IT pros to manage the software on their servers as it is to download an iPhone app. It's especially popular for running Kubernetes, a Google-born technology for managing cloud infrastructure.

Fey sees big value in bringing this to ever-larger customers, who need an easy way to first bring their software to the cloud, and then to snap on additional technologies like Kubernetes, artificial intelligence, or smart device management. 

Tactically, Fey wants to take the positive experiences of Mesosphere's smaller customers, and "repeat it at the highest levels." He highlights new customer GE Transportation, which is using DC/OS to manage applications across its own data centers, as well as mega-clouds like those offered by Amazon Web Services and Microsoft Azure.

Leibert says that the time is right, too: With Microsoft buying GitHub for $7.5 billion, IBM snapping up Red Hat for $34 billion, and VMware acquiring red-hot Kubernetes startup Heptio, there's going to be a lot of interest in open source software. That's good for Mesosphere, Leibert says, because there's no easier way for customers to get started using open source software than to install and manage it via DC/OS.

"You need to be able to put all of these technologies together," says Leibert. 

SEE ALSO: Facebook veterans are changing the world of blockchain and crypto startups: Here are 15 ex-Facebook employees who went crypto

Join the conversation about this story »

NOW WATCH: Drinking too much water could be surprisingly hazardous to your health

Viewing all 70894 articles
Browse latest View live




Latest Images