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The latest news from Business Insider
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    net neutrality protest ajit pai picture cat

    • Business Insider asked some of the biggest tech firms in the US about the FCC's plans to kill net neutrality.
    • Netflix, Facebook, Google and more are all speaking out in support of net neutrality, and against the FCC's plans.


    The FCC is planning to kill net neutrality — and some tech companies are starting to speak out.

    In December, the US telecoms regulator is planning to roll-back Obama-era rules that ensure net neutrality— the principle that all data must be treated equally, and companies can't charge for preferential access.

    The plan is expected to pass, and if it does, it will mean ISPs and telecoms firms are able to charge companies for access to "fast lanes," or even block certain apps altogether.

    Pro-net neutrality activists, who argue the principle creates a level playing-field online, are up in arms about the plan. And some tech companies are now speaking out in support of net neutrality as well, from Facebook to Netflix.

    Business Insider reached out to some of the biggest tech firms in America today to ask for their reaction to the FCC's plan. Their initial responses are below, and we will continue to update this post as more come in.

    Facebook: Net neutrality ensures 'the internet remains open for everyone'

    In an emailed statement, Facebook's vice-president of US public policy Erin Egan said: "We are disappointed that the proposal announced today by the FCC fails to maintain the strong net neutrality protections that will ensure the internet remains open for everyone. We will work with all stakeholders committed to this principle."

    Google: 'We are disappointed'

    A Google spokesperson says: "The FCC’s net neutrality rules are working well for consumers and we’re disappointed in the proposal announced today."

    ajit pai fcc net neutrality

    Netflix: 'We oppose the FCC's proposal'

    In a tweet sent on Tuesday, video-streaming giant Netflix signaled its support of net neutrality and its opposition to the FCC's plans.

    Says Netflix:

    "Netflix supports strong #NetNeutrality. We oppose the FCC's proposal to roll back these core protections." In response to a Twitter using calling for it to take action, it added: "We've been supporting for years thru IA and Day to Save Net Neutrality with a banner on Netflix homepage for all users. More info in Q4 2016 earnings letter, as well. This current draft order hasn't been officially voted, so we're lodging our opposition publicly and loudly now."

    The company did not immediately respond to Business Insider's request for additional comment.

    Reddit: Net neutrality is 'crucial to innovation'

    The Reddit community is fiercely pro-net neutrality, and has been up in arms about the plans. Most of the top posts on the social news and community site right now are calls to arms, or highly critical messages targeting the FCC.

    The company itself is also pro-net neutrality.

    In a statement, a Reddit spokesperson said:

    "Reddit is actively monitoring the FCC's proposed rule changes that could dismantle net neutrality as we know it. From farmers in South Dakota to musicians in Kentucky to small business owners in Utah, net neutrality is just as important to redditors as it is to Reddit and we will continue to advocate for and work constructively to maintain a free and open Internet. It is crucial to innovation and the health of our economy that small businesses have equal access to the internet, with winners and losers chosen by consumers, not ISPs."

    Oracle: Declined to comment

    Enterprise tech giant Oracle declined to comment when reached by email.

    Apple, Twitter, Cisco, and IBM did not immediately respond to Business Insider's request for comment. We will update this story as we hear back.

    SEE ALSO: If you want to see what America would be like if it ditched net neutrality, just look at Portugal

    Join the conversation about this story »

    NOW WATCH: Here's what Apple cofounder Steve Wozniak thinks of the net neutrality battle — and why it matters


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    Amazon strike Germany 2014

    • Workers in Italy and Germany plan to strike on Black Friday.
    • At least 500 from Piacenza, Italy, said they will walk out.
    • Amazon said it will do its best to fulfil orders without them.


    More than 500 Amazon employees in Europe will go on strike on Black Friday in a bid to win higher pay from the retailer, according to trade unions.

    Large numbers of employees in Germany and Italy will stay home for one of the busiest shopping days of the year in a bid to win concessions from their employer.

    Workers at Amazon's main Italian distribution hub posted a statement saying that they would walk out after attempts to secure bonuses from management broke down.

    They said at least 500 of the 1,600 staff in Piacenza, 45 miles south of Milan, would refuse to work on Black Friday, according to the Reuters news agency. They are also refusing to work overtime until the New Year.

    At the same time, workers at six distribution centres in Germany are also due to strike as part of a long-running pay dispute.

    The ver.di union is co-ordinating the walkout, and said its members deserve a bigger share of the profits Amazon makes from the holiday.

    They did not specify how many workers were due to strike. Business Insider has contacted ver.di to ask for a figure.

    According to Reuters, the strike will be the first ever for Italian Amazon workers, though those in Germany have taken action before.

    In a statement to Reuters, Amazon in Italy said its focus would be trying to make sure that orders made on and around Black Friday arrive on time.

    It added that its workers' salaries are already high, and they get other benefits including medical insurance and training.

    Join the conversation about this story »

    NOW WATCH: Here’s why your jeans have that tiny front pocket


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    Shopping Online More

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

    Amazon Prime’s free two-day shipping has led to an industry paradigm shift. Online retailers — small and large — are increasingly offering the perk to keep from losing customers to the behemoth marketplace. But free shipping comes at a steep cost: Rising shipping expenditures are eating away at retailers' margins. 

    Larger retailers that can better afford to eat the cost of free shipping are battling to gain an advantage over Amazon. But most retailers, particularly small ones, lack the resources necessary to compete with the massive online retailer. This has set off a race in the logistics industry: Large logistics providers are creating new services for small retailers, while logistics startups aiming to address the same market are growing in numbers. 

    In a new report, BI Intelligence weighs the costs and benefits of free shipping for retailers and analyzes the effects of the perk on the industry. It assesses the technologies that could become commonplace as retailers and logistics providers fight rising shipping costs. However, implementing a cost-effective free shipping strategy can be difficult, so the report also discusses various techniques that both small and large retailers can use to make free shipping work for them.

    Here are some key takeaways from the report:

    • Small and large retailers alike are turning to free shipping to better compete in an Amazon-dominated market. But rising shipping expenditures are eating away at retailers' margins — even Amazon reported in 2016 that its shipping costs jumped 40%.
    • Small retailers face even more challenges than their larger counterparts, as they often lack the resources to invest in supply chain improvements and can’t benefit from the generous shipping discounts large retailers receive. Typically, retailers can get discounts of up to 70%, while boutique shops may only see discounts of about 5%.
    • Both retailers and logistics companies will likely invest in technologies that help to lower shipping costs. These include augmented reality (AR), artificial intelligence (AI), and radio frequency identification (RFID) tracking. Additionally, as logistics providers continue to raise shipping rates, large retailers may move some logistics operations in-house.

    In full, the report: 

    • Provides an overview of how consumers' demand for free shipping is shaping the retail and logistics industries.
    • Examines the technologies that may be implemented as a result of  companies seeking to lower shipping costs.
    • Discusses various strategies to implement with free shipping for small and large retailers.

    Interested in getting the full report? Here are two ways to access it:

    1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >>Learn More Now
    2. Purchase & download the full report from our research store. >> Purchase & Download Now

    Join the conversation about this story »


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    Ilana Weinstein IDW - smaller 2x1

    • Ilana Weinstein is the founder of The IDW Group, which focuses on recruiting investment talent for all kinds of investment strategies.
    • We asked Weinstein about the biggest trends in the hedge-fund business and how to get a senior-level job today.
    • Here’s her best advice for recent college graduates looking to land jobs at a hedge fund.


    llana Weinstein, founder of the The IDW Group, is a tour de force within the hedge-fund industry.

    She recruits top-level talent for the world’s most prestigious investment firms including hedge funds, family offices and private equity funds.

    Weinstein recently sat down with Business Insider’s hedge fund reporter Rachael Levy for a wide-ranging interview about the industry. She says your college major isn’t actually that important when it comes to landing a dream hedge fund job after graduation. Instead, it all comes down to passion. Here’s more from the interview:

    Rachael Levy: What advice would you give to a young person coming out of school who wants to join a hedge fund? What kind of educational background are funds looking for now?

    Ilana Weinstein: Focus on what lights you up – not the dollar signs.  There are thousands of hedge funds and most won’t make it.

    There are thousands of hedge funds and most won’t make it. It’s kind of like the dot-com bubble when I was coming out of school. Unless you live and breathe investing and everything that goes on in your area of interest, this is not for you.  What I am most inspired by is passion.  This manifests itself through someone who is on fire about what is evolving in his industry, sector, how committed he is. I know it when I see it.

    I wouldn’t worry much about majors.  School is a time to expand your horizons and learn how to think.  That skill set and flexibility will serve you better as an investor than any individual class.  I have had a few Founders disparage the value of an MBA.  They would rather the person spent those two years in an investing seat going through different markets.  As an MBA myself I am mixed on that but I understand the point.

    You can read the full interview with Ilana Weinstein here

    SEE ALSO: We asked a top hedge-fund recruiter what it takes to get a senior-level job these days

    Join the conversation about this story »

    NOW WATCH: Gary Shilling: Here's how I'd fix the Fed


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    2016 1024_AM headshots_james ransom 357_preview

    • Thanksgiving is a massive day for food content sites like Food52.
    • The web publisher has a digital hotline promising readers help with cooking queries and emergencies within 10 minutes.
    • Forgetting to defrost is a big issue. And sometimes it's a "purple turkey."


    For food publisher like Food52, Thanksgiving is its Super Bowl.

    The site's November user base is already up 60% versus the same month last year, and its search traffic has surged by 80% over the same period.

    Back on July 1, Food52 attracted 192,000 unique visitors in a single day. On Monday of this week the site drew 344,000 unique visitors. That audience is expected to swell over the next few days, as Food52 hosts its annual Thanksgiving hotline, via which the site promises visitors it will answer queries within 10 minutes.

    That mean the site has a dozen staffers working two hour shifts between now and Thanksgiving night, answering turkey queries like doctors on call.

    Business Insider caught up with cofounder and CEO Amanda Hesser to talk about what it's like to man a holiday hotline.

    Mike Shields: So what is this week like for you guys?

    Amanda Hesser: It's really our moment to shine. We're here to help people. Thanksgiving is a big daunting meal for people. Even experienced cooks don't make turkey that often.

    Barbara Kafka's Simple Roast Turkey, Bobbi LinAnd you've got the presentation, and the cousins that aren't getting along, you're supposed to put this big meal on at 4:00 in the afternoon, and the family pressure – it's all completely at odds with regular cooking. So all of a sudden you have a bunch of questions.

    Shields: What's it like doing the hotline?

    Hesser: We've learned a lot in the seven or eight years we've been doing it. We take two-hour shifts, and get email alerts when people have questions. I actually find it really fun to help people.

    Shields: What kind of questions do you get?

    Hesser: Well, the most common mistake is that people forget to defrost the turkey. And once you realized you've forgotten, there's only so much you can do. It's a big bird to defrost. Yet people don't think 'I should really do this on Monday.' That doesn't seem logical. So we actually post a reminder of this on the site all week. 

    Shields: What other kinds of questions are common?

    Hesser: Most people want reassurance. Or they'll ask things about whether they can replace certain things in a given recipe. The way we come at it is, we share their anxieties. We'll get hundreds of questions. And our search tool has become bigger. 

    Another thing we offer people is a menu maker. People can essentially take a quiz, walk through what they want to serve and how many people they expect, and this generates a menu they can print as a place setting. Plus they can print out all the recipes they need. [A variation of the menu maker will be available on the site throughout the holidays; it's being sponsored by Braun cookware].

    Shields: Any funny stories?

    Hesser: There have been some unusual ones. For example:

    My oven is broken the night before Thanksgiving.

    My turkey is purple.

    8408e638 01f1 41a0 92cf a7c91a0f97c6 IMG_1652

    Another My turkery is purple.

    Help! I date someone from Texas who wants brisket for Thanksgiving. Should I make turkey?

    And more.

    Shields: Anything you've learned that you'd change?

    Hesser: A few years ago we started a commerce business. And that year, we decided to also sell turkeys for Thanksgiving. We sold 90 turkeys that year. And 89 made it there, and one didn't. There was a shipping problem. It took five of us to find a way to deliver that customer an alternate turkey, along with a gift. You just don't want to be the one not delivering Thanksgiving dinner to some one. So we'll never sell turkeys again

    Join the conversation about this story »

    NOW WATCH: Why airlines ask you to raise the window shades for takeoffs and landings


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    the simpsons movie mob

    • There is no winning for brands in today's hyper-polarized and divisive environment, where the social media outrage cycle runs on a constant loop.
    • Brands inevitably end up being perceived as political, whether they take outright stances or not.
    • The solution is for brands to remain true to their own as well as their consumers values, say experts.


    The outrage cycle has always been a constant feature of social media. But the pace, scale and extent of that outrage is now unprecedented, with marketers swiftly getting swept up in a swirl of discontent.

    Just ask Keurig. The coffee company was one of the first brands to announce that it was pulling its ads on Fox News host Sean Hannity's show last weekend, following the host's interview on Friday with Roy Moore, in which critics argued that he was too easy on Moore.

    Soon enough, many on the right were calling for Hannity's supporters to boycott Keurig, with some people going as far as to post videos of themselves smashing their Keurig coffee machines. And not long after, Keurig's CEO Bob Gamgort was backpedaling and apologizing for "taking sides."

    Keurig is just the latest example of how the outrage cycle today runs on a loop. A marketers finds itself in the middle of a hot-button ideological issue – whether it asked to be there or not. There is backlash. And then there is counter-backlash to that backlash. Until another brand find itself in the thick of a similar maelstrom, and the cycle kickstarts all over again.

    Basically, there is no winning for brands in today's hyper-polarized and divisive environment. Take a stand on a hot-button issue, and get pummeled by the conservatives. Or don't, and get roasted by the progressives. Markerters — already wary of entering the political fray — now find themselves are stuck between a rock and a hard place. Almost everything is a potential minefield.

    A Catch-22 situation

    "The social media sparring ushered in with the Trump era creates a Catch-22 for brands," John Barker, founder of ad agency Barker with clients such as Aston Martin and Bennigan's, told Business Insider. "It is very difficult to navigate the gauntlet that awaits regarding anything that appears to lean one way or another."

    Brian Collins, co-founder and chief creative officer of brand strategy and design company Collins, agreed.

    "Whether you are acting and choosing to be on your front foot about an issue, or reacting when you are involuntarily dragged into it, there is no escape," he said. "There are trapdoors and tripwires for brands in every direction."

    Marketers for years have been told to join in on conversations on social media, align their values with those of their consumers and not be afraid to take stands. And many, from Starbucks and Airbnb to Nordstrom have risen up to the occasion. But increasingly, doing that means opening themselves up to backlash. 

    When brands take seemingly political stances, they invite all kinds of risks that they’re not necessarily equipped to face. And with the likelihood of them being unwittingly caught in the middle of a social media crossfire only increasing, many brands have veered in the direction of insularity, or worse, back peddling. That's exactly what happened Keurig and Volvo this week.

    "Brands are quietly and effectively keeping their commitments to the environment, diversity and immigration, under the radar, without a backlash. This will only continue," said Chris Allieri, principal of  Mulberry & Astor, a public relations, branding, and marketing agency. "Few brands have taken positions and stuck to them."

    'Neutrality is not an option'

    But being insular and retreating is hardly the solution, at least not in the long term. Corporate values play an increasingly large role in customers' shopping decisions today, and tying a brand to certain values is one way to differentiate, stand out from the crowd and create a passionate consumer base.

    "There's no winning if you’re playing yesterday’s game," said Jay Porter, president at PR firm Edelman Chicago. "A lot of brands are trapped in the past, where they were apolitical and today, where they are expected to talk about social issues."

    Some of the biggest brands including Levi's and Coca-Cola built their brands on the basis of being 'for everyone.' But today, "brands have to pick sides, neutrality is not an option." Collins said. "Not weighing in on everything is an option, but not weighing in on anything is not an option."

    That is because brands don't just enter the conversations at their own behest. They can just as easily be dragged into the conversation by activists and trolls. In such a situation, the best thing to do is to be prepared and have relevant response protocols in place. So when something goes wrong, such as when the right starts smashing your products as was the case with Keurig, the reflex is not to panic and backtrack.

    Don't cave in 

    "Brands have to lean into shared values with their consumers and align those values with their internal stakeholders in order to respond to these situations," said Porter. "When brands are not aligned and redact or change their stances — that’s where activists and trolls lean in, because they small fear."

    Brands have to live at the intersection of what's authentic to them and what's relevant to their consumers, said Collins.

    "That is what will help tide over today's climate," he said. 

    Join the conversation about this story »

    NOW WATCH: The disturbing reason some people turn red when they drink alcohol


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    mike dantoni

    • Mike D'Antoni is the architect behind the NBA's most popular style of offense.
    • D'Antoni's offensive philosophy was developed while playing in Italy, where he became a star after a forgettable NBA career.
    • D'Antoni has emphasized up-tempo offenses that rely on a heavy dose of three-pointers while playing smaller lineups.
    • D'Antoni's coaching career has taken many twists and turns, but he's left an undeniable footprint on the NBA.


    The lightbulb went on for Mike D'Antoni in his third year coaching Olimpia Milano in the Italian basketball league LBA, though maybe it was always there and he had been ignoring it.

    It was 1993 and D'Antoni was coaching "traditionally," as he calls it, but he wasn't getting much out of his team. D'Antoni decided to mix things up.

    "I just one day just decided to do it the way I wanted to do it, and be damned the consequences," D'Antoni told Business Insider.

    What followed were the seeds of a style of offense that would eventually sweep across the NBA. That year, Olimpia Milano won the FIBA Korac Cup, and D'Antoni's confidence in his preferred style of playing grew.

    It was a style that D'Antoni did not invent, but helped popularize — up-tempo, spread-out offense with a reliance on pick-and-rolls and three-pointers that can be seen around the NBA today.

    "There aren't many innovators in coaching," Golden State Warriors head coach Steve Kerr told Business Insider. "There's usually a few key figures who change the way everybody else thinks ... I think what makes Mike unique is he is one of those innovators."

    A forgotten NBA player, an Italian legend, a twice-failed NBA coach, a two-time NBA Coach of the Year, and an offensive innovator — all of these things describe D'Antoni.

    'One of the lowest points of my life'

    D'Antoni grew up in West Virginia and learned basketball under his father, Lewis, a successful high school basketball coach who influenced Mike's basketball philosophies.

    After D'Antoni graduated from Marshall University in 1973, he was taken in the second round of the 1973 NBA draft by the Kansas City-Omaha Kings.

    His NBA career was brief and forgettable. The 6-foot-3 shooting guard played three seasons with the Kings, never averaging more than the 19 minutes per game he played his rookie year. After one season with the Spirit of St. Louis and one with the San Antonio Spurs, he was cut and suddenly facing a crossroads.

    "Probably one of the lowest points of my life," D'Antoni said of being cut. "I was 26 and not knowing whether I should go back to school and do something in the real world or continue playing basketball. You're kinda lost a little bit."

    He eventually decided to take an offer to go play for Olimpia Milano in Italy.

    "I think he had to," cackled D'Antoni's brother Dan D'Antoni, head coach of Marshall men's basketball and a former NBA assistant coach, to Business Insider. "It was a necessity."

    mike d'antoni italy"It was the best decision I ever made," Mike said.

    D'Antoni became a star in Italy. Over the course of 13 years, he became the club's all-time leading scorer while leading Milan to five Italian league titles and two FIBA Euroleague titles. Olimpia Milano's website declared him "the greatest point-guard in the Italian basketball history."

    After D'Antoni retired in 1990, he became head coach of Milan, leading the way to his offensive revelation.

    An offense was born

    Dan D'Antoni remembers when his brother began to change how he thought an offense should look. It was around 1979, when the NBA introduced the three-point line, and Mike called Dan on the phone to tell him how the number of threes attempted coincided with where teams finished in the Italian league. He noted that his own team, the league champions, shot and made the most threes.

    Mike D'Antoni told his brother, "You might wanna start seeing how valuable that three-point line is."

    Here's a simple version of how the D'Antoni offense works: Spread shooters around the floor and run a high pick-and-roll with the point guard and big man. With a 5-on-4 opportunity (with the opposing point guard blocked by the pick), the point guard can shoot, attack the basket, hit his big man rolling to the basket, or kick the ball out to any of his shooters. In almost any variation of the play, somebody is open and defenses are scrambling to recover. And it's even better to play this style at a fast pace.

    Dan said this was a popular style in West Virginia growing up, and Don Nelson, the NBA's leader in career coaching wins, was known for running fast, "positionless" offenses.

    D'Antoni didn't immediately impact the NBA with his vision. He was hired as head coach of the Denver Nuggets in 1998, but was fired after one season. He said he was still too scared to go against the grain and feared his resume was not strong enough to convince players to ditch normal post-ups and slow pace for three-pointers and fastbreaks.

    D'Antoni worked as a scout for the Spurs afterward and later as an assistant for the Portland Trail Blazers. He returned to Europe to coach Benetton Trevisio in 2001-02 and once again found success coaching his style of offense. That success caught the eyes of Phoenix Suns CEO Jerry Colangelo. D'Antoni became head coach of the Suns in 2003-04, replacing fired head coach Frank Johnson and was kept on board for the 2004-05 season.

    Seven seconds or less

    In the Colangelos, D'Antoni found management that supported his vision. And the key to his vision was the acquisition of All-Star point guard Steve Nash, who gave D'Antoni the engine to his offense. D'Antoni moved Amar'e Stoudemire, an explosive power forward, to center. Around this dynamic pick-and-roll duo, D'Antoni unleashed three sharpshooting, athletic wings, a rare structure at the time. 

    The run-and-gun Suns went 62-20 during the 2004-05 season as D'Antoni won Coach of the Year and Nash won MVP. The "seven seconds or less" Suns — a term used to describe the pace of their offense — went 170-76 over the next three seasons, with Nash winning a second MVP in 2005-06.

    steve nash mike dantoni

    "That was, to me, the beginning of the shift in the NBA in terms of how teams were gonna play," said Kerr, who was an advisor with the Suns and became GM in 2007.

    "Mike was the first guy to really just downsize and just makes his threes into fours and fours into fives and just not play a traditional center. And as a result, to me, that was the beginning shift that you're seeing now, 13 years later."

    Repeated playoff failures, however, wore on the team. Twice they made it to the Western Conference Finals and lost in excruciating fashion. Concerns arose about the Suns' commitment to defense, and the logic of playing smaller and shooting a high number of jump shots was questioned.

    In 2008, Kerr, then the general manager, swung a trade for Shaquille O'Neal in an attempt to get bigger, compromising the team's identity.

    "In hindsight it was a mistake," Kerr said.

    D'Antoni left after the 07-08 season, in which the Suns went 55-27, but lost in the first round to the San Antonio Spurs.

    Pit stops in New York and Los Angeles

    Stubbornness, ill-equipped rosters, and bad timing plagued D'Antoni in stops with the New York Knicks and Los Angeles Lakers. D'Antoni continued to push his offensive style on rosters that didn't have the make-up of his teams in Phoenix. In New York, he was reunited with Stoudemire, but had a hard time getting Carmelo Anthony to buy in to his vision. In Los Angeles, he was reunited with Nash, but couldn't sell Kobe Bryant and Pau Gasol on their roles.

    Meanwhile, concerns remained about his style and his commitment to defense.

    "Innovators tend to be very headstrong, otherwise they wouldn’t be innovators," said Kerr. "They really believe in something that most other people don’t believe in. I think there’s a psychology to it where the only way to be successful is to be really prideful and persistent on what you’re doing."

    kobe bryant mike dantoniMike called himself spiritually richer for the experiences in New York and LA, but one gets the sense he remains resolute in his ways. 

    "I mean, there's always things you'd do differently," he said, but added there's no proof that playing differently would have changed the outcomes in New York and Los Angeles — just two playoff berths over six years.

    However, Mike also understood the hesitancy of some star players to buy into his scheme.

    "Some years you're paying players $20, $30 million and then you [tell] them, 'Well what you were doing to earn all that money is completely gone.' That’s tough," D'Antoni said, laughing. "So, if they don’t have the inclination that makes it tough."

    After D'Antoni resigned as Lakers head coach in 2014 following a franchise-worst 27-55 season, doubts about him as a coach were stronger than ever. Perhaps his success in Phoenix had been unique to that team.

    The Warriors revolution

    "Thank goodness for Golden State," D'Antoni says now.

    In 2014, D'Antoni was away from the NBA for the first time in years. He had returned to West Virginia and spent his days golfing, reading, and hanging out with his dad and his family. At night, however, he couldn't help turning on the TV to watch a dynamo that looked awfully familiar, run by a former colleague.

    The Kerr-led Warriors were like D'Antoni's Suns — on steroids. Stephen Curry was in the Steve Nash role, but was quicker and more deadly of a shooter. The Warriors pushed the pace and spread the floor with shooters, cutters, and defenders in Klay Thompson, Harrison Barnes, and Andre Iguodala. And more importantly, they had playmaking and defensive big men in Draymond Green and Andrew Bogut, something D'Antoni never had much of in Phoenix. The Warriors played like a souped-up Suns, and D'Antoni loved it. He found joy in the Warriors winning the 2014-15 championship. 

    "I think the biggest thing was when Steve and [the Warriors] won the championship," Dan D'Antoni said of his brother. "He relaxed. He goes, 'My point has been made. I didn’t make it, but somebody else made it.'"

    steve kerr stephen curry

    Kerr disputes how similar the two systems really are. D'Antoni offenses focus heavily on high pick-and-rolls, and the best player controls the ball, picking out teammates like a quarterback finding receivers. Kerr's Warriors actually run some of the fewest pick-and-rolls in the league, and Curry, despite being the engine of the offense, spends a great deal of time off the ball.

    "I think our philosophy of pace and three-point shooting was something that I definitely agreed with and Mike had sort of set the tone in terms of the way he was playing with his teams," Kerr said, adding, "We took elements of Mike's offense and implemented those elements into a bigger system that was more our own."

    A Rockets renaissance

    D'Antoni made his return to the NBA in 2016 as head coach of the Houston Rockets. In Houston GM Daryl Morey, D'Antoni found a kindred spirit. Morey's basketball philosophy is analytically driven — three-pointers, layups, and free throws are basketball's most efficient shots. Throw out midrange jumpers, deep twos, and post-ups; there are better shots to be taken. The two systems align.

    In Rockets guard James Harden, D'Antoni had a new Nash in-waiting. D'Antoni thought he could tweak Harden's playing style, and he was right. He unleashed Harden at point guard in 2016-17, and the results were immediate: the Rockets won 55 games and made the semifinals. Harden, meanwhile, had a career year and finished second in MVP voting.

    In the offseason, the Rockets took it a step further, adding Chris Paul to the back-court after a trade with the Los Angeles Clippers. This season, D'Antoni is facing a somewhat familiar challenge — blending in two ball-dominant stars whose games may not necessarily complement each other.

    D'Antoni's approach for blending Paul and Harden could be seen as a sign of growth. Paul has historically been a slow-it-down guard who prods the defense and dictates the offense. His game is more midrange heavy than typical D'Antoni player.

    "You gotta be Chris Paul," D'Antoni said of his approach to coaching Paul. "I can't just say I wanna take a Hall of Fame point guard and make him into something else."

    james harden mike d'antoni

    D'Antoni's offense still has some doubters, but turn on an NBA game on any given night and his influence can be seen. Teams across the league have downsized and turned away from traditional big men, preferring the spacing and quickness smaller players provide. Call it "The Warriors effect," but it wouldn't have been possible without D'Antoni.

    D'Antoni still thinks there's room for his offensive approach to grow. Players can now play even faster, he said, because the science around health has improved. His Rockets team frequently takes three-pointers well beyond the three-point line because it spreads the floor even more — he thinks there's room to keep pushing that, too.

    He doesn't know who or what will be the next innovation in the NBA. But eventually, someone will come along and change the league, just as he did in 2004.

    A telling sign about the D'Antoni impact on the game — the 2004-05 Suns led the league in pace. Today, at that same pace, they would rank 22nd in the NBA.

    "In another ten years, we won't even be on the same page," D'Antoni said.

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    The burger with the most calories in the world can be found at the Heart Attack Grill in Las Vegas, which has made national headlines for killing its customers with its over-the-top, gluttonous fare.

    According to Heart Attack Grill owner Jon Basso, though, death has been good for his restaurant's business. We went to eat there and tried the 19,900-calorie Octuple Bypass Burger. Following is a transcript of the video.

    Will Wei: I'm standing in front of the Heart Attack Grill where death is good for business, according to its owner.

    Jon Basso: Death equals business at the Heart Attack Grill. Will it please me if other spokesmen die in the future? Absolutely. 

    Will Wei: I'm going to go inside and see what it's like. The gimmick of the Heart Attack Grill, if you haven't already noticed, is that it's a hospital-themed restaurant with a twist. 

    The waitresses dress up in tight nurse outfits; customers are required to put on hospital gowns to get in; and the food is unapologetically awful for you.

    How many pounds is this?

    Waitress: Four pounds.

    Will Wei: Ok. I'm going to go with the Octuple Bypass Burger. So, I can add 40 bacon slices to it.

    Waitress: Do you want bacon, chili, tomato, onion, lettuce cheese on it?

    Will Wei: Yeah, you know what? Let's get everything. And the Flat Liner fries and the wine with the IV bag and pole. 

    Waitress: Do you want merlot or chardonnay? 

    Wei: I don't know. Does it really matter at this point? 

    Waitress: Not really. Alright are you ready for some surgery? I'm really excited to spank you.

    Wei: Oh, and if you don't finish your food, you'll get a spanking from your waitress. It's company policy, apparently. 

    Waitress: Ok, you ready? This is the merlot.

    Wei: What year? Do you know?

    Waitress: Hahaha, no.

    Wei: Alright, here's the wine. 

    Waitress bring out the burger.

    There it is. 

    Waitress: It comes with 8 patties. Four pounds of beef. There's 40 pieces of bacon on there; chili, tomato, and cheese. So, good luck to you!

    Wei: The Octuple Bypass Burger. Oh my god. Can you actually pick this up? Here I go. I don't know where to start. Here we go. How many calories is this, do you know?

    Waitress 2: Nineteen thousand, nine hundreds, and something. It's enough for about 10 days.

    Wei: Alright, I feel good about myself. I have people literally staring at me through the window wondering what the hell is that guy eating.

    I've eaten a lot of weird things in my life. I've eaten the McGang Bang, the Monster Mac, the Land, Sea, and Air burger. But none of that compares to this. This burger has enough calories to last a normal human being for 10 days. There's no way I'm going to finish this, and I really don't want a spanking so what I'm going to do is take some cash out of my wallet, put it down here, and I'm going to sneak out of here. 

    EDITOR'S NOTE: This video was originally published on January 20, 2015.

     

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    shopping friends laughing

    Between decorations, holiday feasts, gifts for your family and friends, and Secret Santa exchanges at the office, it's easy to blow through your paycheck during the holiday season.

    It doesn't help that most supermarkets and department stores trick you into spending more. But you can play that game, too. 

    To help keep more cash in your wallet this holiday season, we rounded up 11 simple strategies to help you spend less and save more.

    SEE ALSO: One of the best times to get travel deals all year happens the week after Thanksgiving

    DON'T MISS: Apple won't have Black Friday deals on the iPhone X and iPhone 8 — but here are the stores that will

    Master the '10-second' rule.

    "Whenever you're in a store and you pick up an item, hold it for ten seconds," writes founder of The Simple Dollar Trent Hamm, in his book, "365 Ways to Live Cheap." 

    "During those ten seconds, ask yourself if you really need it and also if that money wouldn't be better used somewhere else. You'll almost always find yourself putting that unnecessary item back on the shelf and walking away, quite proud that you didn't waste your money on something so unnecessary."

    Put this strategy to test when you're shopping for stocking stuffers — it's easy to get carried away with small, relatively inexpensive presents, but a bunch of little purchases can add up over the course of the gift-giving season. 



    Practice the 'stranger test.'

    Another quick and easy in-store trick: When deciding whether or not to make a purchase, imagine a stranger offering your would-be purchase in one hand and the cash it would take to buy it in the other. If you'd rather accept the cash, you might as well keep that money in your pocket.



    Procrastinate on non-essential purchases.

    There are times when procrastinating does have value. When it comes to discretionary spending, A. Noonan Moose from Frugal Fringe recommends putting off your purchase to give yourself time to find better prices and make better decisions. We highlighted a few of our favorite examples here.

    This strategy translates well to buying gifts online: If you're deciding between a few choices, put all of them in your cart, and leave them for a few days without checking out (as long as you'll still have time for delivery before they're needed). In that time, an item might go out of stock and make your choice for you, you might be offered a retailer coupon by email, or the price might drop.



    See the rest of the story at Business Insider

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    lavar ball

    • President Donald Trump on Thursday bizarrely responded to a tweet suggesting he speaks ill of prominent black people to capitalize on racist sentiment within his base.
    • Trump responded to the tweet with: "MAKE AMERICA GREAT AGAIN."
    • Minutes later, however, Trump tweeted the same thing on its own.


    President Donald Trump on Thursday offered a bizarre but familiar response to a tweet with an article from The Washington Post's liberal-leaning Plum Line blog suggesting that he criticizes prominent black people to play on racist sentiment within his base.

    The article's author, Greg Sargent, tweeted, "Trump regularly attacks high-profile African Americans to feed his supporters' belief that the system is rigged for minorities," to which Trump responded, "MAKE AMERICA GREAT AGAIN."

    Earlier this week, Trump went after LaVar Ball — the father of LiAngelo Ball, one of the three UCLA basketball players released from detention in China after Trump's meeting with Chinese President Xi Jinping earlier this month — on Twitter.

    After Ball refused to thank Trump for the president's role in the release of the three players, who were accused of shoplifting from several stores in China, Trump called Ball an "ungrateful fool" and compared him to a "poor man's version of Don King."

    Sargent's article linked this to Trump's other criticisms of well-known black people in sports and politics, calling it "a gratuitously ugly pattern." It ended by suggesting that Trump engages in a "pattern of race-baiting" that "might be designed to resonate with" his supporters.

    Throughout his career, Trump has gone after dozens of politicians, media personalities, and sports stars of many races, but his response to Sargent's tweet was bizarre because, minutes later, he tweeted the same thing on its own.

    Trump has previously tweeted things erroneously. For example, in late October, he wished a happy birthday to Lee Greenwood, the singer who wrote "God Bless the USA," but tagged another Lee Greenwood who appeared to have protested Trump's immigration ban.

    SEE ALSO: Trump blasts 'ungrateful fool' LaVar Ball, calls him a 'poor man's version of Don King'

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    NOW WATCH: A billionaire spent $10 million on an ad calling for Trump's impeachment


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    global banks' IT spending priorities

    This is a preview of a research report from BI Intelligence, Business Insider's premium research service. Click here to learn more.

    In an increasingly digital economy, banks are becoming more dependent on efficient data processing to improve customer service and products, and ensure regulatory compliance. But legacy core software systems, implemented decades ago, are letting banks down, and replacing old systems, or "overhauls," is becoming increasingly necessary.

    But these software layers are extensive, complex, and foundational, making them costly and notoriously hard to replace. This is deterring most banks from even trying.

    However, this is a mistake — banks have to familiarize themselves with the pitfalls and responsibilities system overhauls entail, and use this knowledge to ensure their undertakings stay on track. If this is done, the long-term benefits of a system overhaul will far outweigh its short-term risks.

    A new report from BI Intelligence, Business Insider's premium research service, looks at the flaws inherent in current core systems, how new generation cores improve on these problems, the steps and players involved in overhauling a core system, and the risks banks should be aware of when undertaking such projects. 

    Here are some of the key takeaways:

    • Core software systems, which operations for each bank product and division feed into, are extensive, complex, and foundational. This makes overhauls notoriously difficult and expensive.
    • But old systems have become so outdated that they're unable to make the most of an increasingly valuable resource: data. This is hurting banks, and making overhauls of these systems essential.
    • New cores are designed to help banks make the most of their data to improve customer service by gaining behavioral insights; and by reducing internal costs by saving on expensive compliance checks.
    • Banks can't overhaul their systems without help. They need to call in consultants, systems integrators, system hosts, and software providers for such massive projects to succeed and deliver tangible results.
    • Overhauls are undoubtedly risky, but banks stand to lose more by not even attempting them. If they take the most common risks into account and plan ahead, they stand to gain long-term benefits.

    In full, the report:

    • Looks at how legacy systems' structure, and how it makes effective data handling impossible.
    • Explains how new generation core systems are optimized to help banks make the most of their data.
    • Gives an overview of how banks should go about moving their organizations to new core systems.
    • Discusses the most common risks of overhauls, and how to avoid them to reap the benefits.

    To get a preview of the full report, click here.

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    Balloon Puppeteers Macys Parade 1924

    Around 3.5 million people attend the Macy's Thanksgiving parade in New York City every year. Fifty million more tune in to watch it from home.

    Before it became the national spectacle it is today, the first parade in 1924 was a relatively modest assembly of Macy's workers, elephants, monkeys, camels, Broadway performers, and small floats.

    Take a look at archive photos of Macy's first parade.

    SEE ALSO: The cost of a Thanksgiving dinner is at a five-year low, according to a new report

    On Thanksgiving morning in 1924, Macy's procession launched as the Christmas Parade.

    Macy's was not the first company to have a parade like this. In 1920, Philadelphia’s Gimbel Brothers Department Store staged a Thanksgiving parade with 50 people, 15 cars, and a fireman dressed as Santa Claus.



    The performers marched 6 miles, starting from the intersection of 145th Street and Convent Avenue in Upper Manhattan.

    Source: The New York Times



    Approximately 250,000 people attended.

    Source: The New Jersey Star-Ledger



    See the rest of the story at Business Insider

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    Peyton Manning and Tom Brady

    In the NFL, lots of players sign big contracts. But unlike other sports, NFL deals are rarely guaranteed and few players see all of the money in those large deals.

    But a select few have gone on to make big money in their careers as there are now 26 players who have made at least $100 million.

    The list of the 25 players with the most career earnings includes 17 active players, 17 quarterbacks, 1 Tom Brady, and 2 Mannings.

    Using contract data obtained by Spotrac.com, here are the 25 highest-paid players in NFL history.

    25. Champ Bailey, CB — $102.8 million

    Seasons: 15

    Highest single-season earnings: $16.5 million (2010; included $3 million roster bonus)

    Championships: 0

    Pro Bowls: 12

    First-team All-Pro: 3

    One thing to know: Bailey's largest contract came after the 2003 season, when he signed a seven-year, $63 million deal.



    24. Alex Smith, QB — $106.5 million

    Seasons: 12

    Highest single-season earnings: $19.0 million (2014; included $18 million signing bonus)

    Championships: 0

    Pro Bowls: 2

    First-team All-Pro: 0

    One thing to know: Often referred to by the pejorative "game manager," Smith is on pace to lead his team to the playoffs for the fifth time in the last seven years.



    23. Calvin Johnson, WR — $113.8 million

    Seasons: 9

    Highest single-season earnings: $25 million (2013; includes $20 million option bonus)

    Championships: 0

    Pro Bowls: 6

    First-team All-Pro: 3

    One thing to know: Johnson retired after the 2015 season because he was "in pain." He walked away from the final four years and $67.7 million on his contract.



    See the rest of the story at Business Insider

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    trump

    • The Trump Organization will end its contract with the real estate investment firm that owns the Trump SoHo hotel in New York, effectively ending Trump's relationship with the troubled hotel.
    • In walking away early from the deal, the Trump Organization will also distance itself from the controversial firm it worked with nearly a decade ago to develop the troubled hotel: Bayrock.
    • Bayrock and its cofounder, Felix Sater, are now under scrutiny by special counsel Robert Mueller, who is examining Trump's business dealings as part of his investigation into whether the Trump campaign colluded with Moscow during the 2016 election.

    The Trump Organization will cut ties with New York's Trump SoHo Hotel after years of financial hardship and even boycotts following Donald Trump's presidential run and electoral victory in November.

    In walking away early from the licensing deal it struck with the California-based real estate investment firm CIM Group, which owns Trump SoHo, the Trump Organization will also distance itself from the controversial firm it worked with nearly a decade ago to develop the troubled hotel: Bayrock.

    Trump worked with Bayrock on at least four projects throughout the 2000's, including the Trump SoHo. Some of those projects ultimately failed. Bayrock was co-founded by the Russian-born businessman Felix Sater, who was accused nearly two decades ago of being a co-conspirator in a $40 million fraud and money-laundering scheme involving four Mafia families. 

    A lawsuit brought in 2010 against Sater and others, which is ongoing, alleges that "for most of its existence [Bayrock] was substantially and covertly mob-owned and operated," engaging "in a pattern of continuous, related crimes, including mail, wire, and bank fraud; tax evasion; money laundering; conspiracy; bribery; extortion; and embezzlement."

    The lawsuit, filed by Bayrock's former finance director, Jody Kriss, accused Sater and Bayrock's founder, Tevfik Arif, of cheating him out of millions of dollars via fraud, money laundering, and racketeering, among other misconduct. In December, a New York judge ruled that the lawsuit could move forward as a racketeering case.

    Sater and Bayrock are now under scrutiny by special counsel Robert Mueller, who is examining Trump's business dealings as part of his investigation into whether the Trump campaign colluded with Moscow during the 2016 election. Mueller is probing whether Russia ever held any financial leverage over Trump that was, or could  be, used as blackmail.

    'It's ridiculous that I wouldn't be investing in Russia'

    According to Kriss' complaint, Sater and Arif began negotiating with the Trump Organization in 2003 to market certain projects under the Trump brand but didn't tell Trump about Sater's criminal past.

    In a 2007 deposition, Trump said his organization would never have agreed to partner with Bayrock on the development of Trump SoHo had he known about Sater's past. Trump also said he would not be able to identify Sater if they were in the same room.

    But Bayrock's office was once two floors below Trump's in Trump Tower on Fifth Avenue. A person familiar with the matter, who requested anonymity for fear of retribution by Sater or his associates, told Business Insider that Sater and Trump had standing meetings each week.

    sater trump

    Sater has said in a deposition that he met with Trump "on a constant basis," Bloomberg previously reported, and Kriss told the publication that Trump valued Sater's loyalty — and his Russia connections. 

    "It's ridiculous that I wouldn't be investing in Russia," Trump said in the 2007 deposition. "Russia is one of the hottest places in the world for investment."

    Sater was evidently still in touch with Trump's personal lawyer, Michael Cohen, as recently as late January.

    The two met at a New York hotel on January 27 to discuss a peace plan for Russia and Ukraine that was drafted by a Ukrainian politician, Andrey Artemenko. Cohen was said to have delivered the plan directly to Michael Flynn before he resigned as national security adviser on February 13, though Cohen has disputed that in subsequent interviews.

    'I will get Putin on this program and we will get Donald elected'

    Sater came back into the news over the summer when emails surfaced showing that he had been pushing for the Trump Organization to pursue a massive real-estate deal in Moscow during the 2016 presidential election.

    Emails exchanged between Sater and Cohen — who have known each other since they were teenagers — in November 2015 indicate that they were preparing to celebrate not only Trump's election victory, but also the potential Russia deal. The Trump Organization, which employed Cohen at the time, had signed a letter of intent to pursue the deal.

    Sater boasted of his ties to Russian President Vladimir Putin in the emails, which were obtained by The New York Times, telling Cohen that he would "get all of Putins team to buy in" on the Moscow deal.

    "Our boy can become president of the USA and we can engineer it," Sater wrote. "I will get Putin on this program and we will get Donald elected."

    Two months later, Cohen emailed Putin's spokesman, Dmitry Peskov, asking for his "assistance" in pushing the deal through, according to emails submitted to congressional investigators and read to The Washington Post.

    "Over the past few months I have been working with a company based in Russia regarding the development of a Trump Tower - Moscow project in Moscow City," Cohen wrote Peskov. "Without getting into lengthy specifics the communication between our two sides has stalled...As this project is too important, I am hereby requesting your assistance." 

    Michael Cohen

    Cohen sent the email to a generic Kremlin email address that was not Peskov's. The Kremlin said later that it had received the email, but Cohen told The Post that he never heard back — and that the deal was scrapped by late January 2016.

    Sater was spotted at Trump Tower about six months after the deal collapsed. He told Politico at the time that the purpose of his visit was "confidential." But his presence there seven months after the Moscow real-estate deal fell through, and less than three months before Election Day, raised questions about who in Trump's orbit he was still in touch with — and why.

    Sater showed Ivanka Trump and her brother Donald Trump Jr. around Moscow in 2006 when their father was scouting real estate in Russia. They stayed for several days at the Hotel National Moscow opposite the Kremlin, according to The Times.

    Sater also acted as a fixer to help the former Kazakh cabinet minister Viktor Khrapunov buy three apartments in Trump SoHo using shell companies, the Financial Times reported. The Kazakh government has alleged that Khrapunov stole those funds from the state.

    Khrapunov's use of shell companies to buy Trump real estate was not unique — a USA Today investigation found that approximately 70% of buyers of Trump properties since June 2016 were limited-liability companies, compared with about 4% of buyers in the two years before.

     

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    NOW WATCH: 'You are the light': Watch controversial Philippines President Rodrigo Duterte serenade Trump with a love song


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    When trying to eat healthier people often make some simple mistakes according to dietitian Tamara Duker Freuman, MS, RD, CDN  . Watch what foods and drinks you should avoid when trying to lose weight and make healthier food choices. Following is a transcript of the video.

    Tamara Duker: I think the first rule for anyone, if you want to be healthier, is to stop drinking your sugar. Anyone who wants to clean up their diet then they need to get rid of the sweetened beverages because it's just not compatible with maintaining a healthy weight and maintaining overall health.

    People will do, like a, juice during the day because they think it's healthy or sweetened iced tea that are claiming they're high in antioxidants and probiotics and things like that. But frankly, it's just added sugar in a really concentrated form. 

    One of the biggest traps people fall into when they want to eat well and make good choices for themselves is that 3 or 4 o'clock dip in blood sugar when they're starving. And that doesn't happen spontaneously at 4 o'clock. That starts at breakfast. And what happens is that people wake up and they try to skimp on breakfast and be really good for their lunch. At 3 o'clock it all goes out the window becuase your blood sugar gets super low and you get super hungry, and what do you crab? Sugar, carby, sweet indulgent foods.

    You can't say no to the bread basket. You overeat portions of things like pasta and rice. And that's really the cycle that can perpetuate being overweight and having a hard time getting a handle on your diet. And so what I really focus on with my clients is getting that first half of the day right. Making sure that you are eating a satiating breakfast, a satiating balanced lunch, so that by the time 4 o'clock rolls around and dinner rolls around you may be peckish and a little bit hungry. But you're not going to tear someone's head off because once you are that hungry all bets are off, and you can't make good choices for yourself. 

    Editor's Note: This video was originally published on May 12, 2016.

     

     

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    the big short

    • Hedge funds are neglecting to protect against the downside in stocks, with one hedging gauge sitting close to the lowest in five years.
    • These funds are also seeing a near-record concentration in a small group of outperforming tech stocks, showing a lack of diversification.
    • The top five stock holdings among hedge funds right now are FacebookAmazonAlibabaAlphabet and Microsoft, according to Goldman Sachs.
    • At the same time, funds overall are faring worse than the S&P 500.


    Hedge funds are supposed to offer a level of hands-on investment prowess that can't be found anywhere else. That's, theoretically, why they command higher fees for their services than traditional money managers.

    But recent data from Goldman Sachs suggests that hedge funds are failing to differentiate themselves, and also neglecting their namesake characteristic: hedging.

    Short interest — a measure of bets that a stock will fall, and often used as a hedging proxy — makes up roughly 2% of S&P 500 market cap. That's close to the lowest level in five years, according to data compiled by Goldman.

    Screen Shot 2017 11 22 at 12.36.06 PM

    To further drive home the unabashed confidence being displayed by hedge funds, Goldman finds that they added net leverage heading into the fourth quarter. 

    Funds now carry a net long exposure of 51%, above the historical average and the most since 2015, the firm's data shows.

    It's the red-hot performance of tech stocks that has them particularly excited. And while hedge funds have made money hitching their wagon to the sector, they're not doing much else to encourage clients to continue forking over lofty fees.

    The top five stock holdings in hedge funds right now are Facebook, Amazon, Alibaba, Alphabet and Microsoft, according to Goldman study of 804 funds with $2.1 trillion under management. These stocks headline the firm's so-called "VIP list," which has outperformed the benchmark S&P 500 by nearly eight percentage points in 2017.

    Unfortunately, however, the average long/short equity hedge fund has posted a return of just 10% this year, trailing the 16% gain for the S&P 500. That suggests that these funds are struggling to pick winners outside of tech.

    It might explain why they've become so reliant on the sector, and are going against another key tenet of hedge fund investing: diversification. The average hedge fund carries 68% of its long portfolio in its top 10 positions, which is just below a record high reached in early 2016. Further, the largest fund positions saw turnover of just 13% last quarter.

    With all of that considered, the question must be raised: Why should you pay a hedge fund a hefty fee for market-trailing returns and undiversified holdings?

    Some high-profile hedge fund managers don't know what to do

    These struggles are not lost on some of the most high-profile members of the hedge fund community.

    Tourbillon Capital, which manages $3.4 billion and is run by Jason Karp, published a soul-searching investor letter in August that outlined many of the struggles facing hedge funders today. A big part of his argument centered around the meteoric rise of passive investing, which he says makes active management far more difficult. His points echo a common criticism of passive trading — that it homogenizes the market and causes the type of crowding that makes it tough to beat benchmarks.

    Karp has also railed against what he sees as "frothy speculation" leading to the huge influx of capital into positions such as going long tech. And it doesn't yet appear as if he's figured it out. His firm's flagship Global Master fund is down 10.6% in 2017, according to a recent note seen by Business Insider.

    Meanwhile, Greenlight Capital founder David Einhorn has adopted a contrarian view on many of the most popular tech stocks, with limited success so far. He sees Amazon, Tesla and Netflix in particular as stretched, calling them "bubble shorts," and has openly wondered if the market has started using an "alternative paradigm" for calculating equity value.

    Einhorn's funds have gained just 3.3% on a year-to-date basis, but actually beat the S&P 500 by almost three percentage points in the third quarter, suggesting that perhaps not all hope is gone.

    What can hedge funds do?

     

    Of course, it's always possible that tech stocks will experience a reckoning of sorts — a type of market event that slashes valuations in the sector and sends traders scrambling. It's something that Bank of America Merrill Lynch has warned against for months, citing overstretched sentiment and trader euphoria.

    If that were to happen, it would give hedge fund managers a fresh chance to prove their bonafides with the investment herd dispersed.

    The question is: How many of them can hang on for that long?

    SEE ALSO: The emergence of a new kind of fund could 'radically alter' the investment industry

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    NOW WATCH: Tesla's biggest problem is one nobody saw coming


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    best cocktails

    • There are tons of amazing and unusual cocktails that most people don't know.
    • Instead of once again going for the eggnog this holiday season, try one of the fun, relatively unknown mixed drinks we selected.

     

    It's the holiday season. You're at a party. And you go for the eggnog. Again.

    A classic is always a solid choice, but variety is the spice of life. Sometimes, it's fun to go for a bolder, lesser-known drink, if for no other reason than to impress your dates or friends with your cocktail know-how.

    Business Insider put together a list of outstanding but relatively unknown mixed drinks that you should try this holiday season.

    We pulled most of the recipes from Liquor.com and Serious Eats. The cocktails using Cointreau were created by the Cointreau team.

    SEE ALSO: 27 cities around the world where expats are happy, rents are affordable, and jobs are plentiful

    Apple Rickey

    To make this cocktail, muddle the apple and rosemary in a Highball glass. Then add the Cointreau and lime juice with ice, and top it off with club soda. Stir briefly and add the rosemary sprig and apple slices as garnishes.

    Ingredients:

    - 2 oz. Cointreau
    - 1/2 oz. fresh lime juice
    - 3 slices of a tart apple
    - 7 leaves of fresh rosemary
    - 4 oz. club soda or seltzer



    Vieux Carré

    The Vieux Carré comes from 1930s New Orleans. There's a lot going on, but it's an incredible cocktail when mixed by a pro.

    To make the drink, put all the ingredients into a rocks glass, add ice, and stir.

    Ingredients:

    - 3/4 oz. whiskey
    - 3/4 oz. cognac
    - 3/4 oz. sweet vermouth
    - 1 tsp Bénédictine
    - 2 dashes Peychaud's bitters
    - 2 dashes Angostura bitters



    Hanky Panky

    The Hanky Panky originated at the American Bar at the Savoy Hotel in London. The vermouth and gin play off the Fernet Branca's blend of botanicals.

    To make the drink, put all the ingredients into a mixing glass with ice. Stir, and then strain into a chilled cocktail glass. Finally, add the garnish.

    Ingredients:

    - 1 1/2 oz. gin
    - 1 1/2 oz. sweet vermouth
    - 2 dashes Fernet-Branca
    - 1 orange twist garnish



    See the rest of the story at Business Insider

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    Top five pacesetters

    When it comes to offering cutting-edge mobile banking features that consumers most value, Wells Fargo tops the list, according to BI Intelligence’s Mobile Banking Competitive Edge study. Banks are increasingly putting mobile first to keep up with consumers' growing reliance on digital channels, as a strong suite of mobile offerings can now give them a major edge in attracting customers.

    To help banks understand how to differentiate and win customers on mobile, we identified 33 key mobile banking features and ranked them based on how important consumers say those features are in choosing a new bank. Using this ranking, we evaluated the mobile offerings of the top 15 US banks and credit unions to select our 2017 Mobile Banking Pacesetters.

    Wells Fargo and USAA snagged the top spots. 

    Wells Fargo and USAA screenshots

    • Wells Fargo leads the pack. Despite the bank's recent high-profile scandals, its digital team has managed to stay ahead in mobile. Wells Fargo scored top marks in the transfers, wallets, and security categories of our scorecard, and ranked first overall. Recently, the bank has added a number of new capabilities, including the ability to temporarily disable new cards, a Facebook chatbot in partnership with Kasisto, and the ability to use a smartphone in place of a card at an ATM. Rank: 1st. Overall score: 82 out of 100 points.
    • USAA follows with a close second. A military-serving bank without a branch network, USAA has built a sterling reputation for giving its customers, which it calls “members,” the best that digital channels have to offer. USAA led in the account access and artificial intelligence (AI) categories of our scorecard, and took the second spot in our broader ranking. The bank's success is partly due to its provision of several features that many competitors have yet to offer, such as integration with Amazon's Alexa voice assistant, as well as a swath of biometric features including face and voice recognition. Rank: 2nd. Overall score: 79 out of 100 points. 

    The rest of the top five are in close competition.

    Citi Bank of America USAA Screenshots

    • Bank of America’s commitment to digital is undeniable. Like USAA, Bank of America gained points for offering its 23 million mobile users rare features, such as cardless ATM access, the ability to re-order or disable a payment card in-app, and the ability to alert the bank to travel plans. Bank of America tied with Wells Fargo for first place in the security section, and tied for third overall. Rank: 3rd (tie). Overall score: 73 out of 100 points.
    • Citibank is reinventing itself as a digital-first bank. Citi is in the midst of a fundamental digital transformation — it launched 86 digital features in 2016, and is on track to deploy 800 more in 2017. The volume of features offered by the bank, including its range of biometric login options and the ability to order a replacement card via mobile banking, helped set it apart in this benchmark. Citi received top marks in the wallets section of the scorecard, thanks to its innovative mobile wallet Citi Pay, and tied for third overall. Rank: 3rd (tie). Overall score: 73 out of 100 points.
    • Capital One is pioneering next-generation digital banking experiences. Known for its commitment to a superior user experience, Capital One rounded out the top five in this scorecard with cutting-edge features that position it for the future of digital banking. Specifically, Capital One offers a conversational SMS chatbot and an integration with Amazon’s Echo device for voice-based banking. The bank tied with Wells Fargo and Citi for first in the wallets category of the scorecard, scored highest for social, and came in fifth overall. Rank: 5th. Overall score: 72 out of 100 points.

    BI Intelligence's Mobile Banking Competitive Edge study ranks banks according to strength of their mobile offerings and offers analysis on what banks need to do to win and retain customers. The study is based on an August benchmark of what features the 15 top US banks offer, and a dedicated September 2017 study of 1,100 consumers on the importance of 32 cutting edge features in choosing a bank.

    The full report will be available to BI Intelligence enterprise clients in November. To learn more about this report, email Senior Account Executive Chris Roth (croth@businessinsider.com). BI Intelligence's Mobile Banking Competitive Edge study includes: Bank of America, BB&T, Capital One, Chase, Citibank, Fifth Third, HSBC, Key Bank, Navy Federal Credit Union, PNC, SunTrust, TD, US Bank, USAA, and Wells Fargo.

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    Stephen Curry

    Stephen Curry will set an NBA record by making $34.7 million for the 2017-18 season, but that doesn't mean he'll get to deposit anything close to that amount into his bank account.

    Curry, a two-time MVP for the Golden State Warriors, made history when he inked a five-year, $201 million contract over the summer, briefly setting the mark for the biggest contract in league history. While that figure was eclipsed by James Harden's $228 million extension with the Houston Rockets in July, Curry will still enjoy the highest single-season salary ever, topping LeBron James by more than $1 million dollars.

    But as lucrative as it is to be an NBA player, it's also an expensive profession. Thanks to a variety of factors, Curry will pocket less than half of his salary for 2017-18.

    ESPN's Darren Rovell provides a breakdown:

    $16 million to various levels of government is a staggering sum, but the state of California places notably heavy taxes on money earned from professional sports. Texas, for example, has no state income tax, so players like Harden don't have to give up as much in salary.

    Curry has become one of the NBA's most marketable players, so no one's going to shed any tears over his earning power — Forbes estimates him having made $35 million in endorsements alone over the past year. But Rovell's graphic shows just how quickly expenses can add up when dealing with millions upon millions of dollars.

    Ultimately, Curry's is a good problem to have, especially given the fact that he made just $44 million in salary over the past four seasons, an incredible bargain by NBA standards. But no matter how much he rakes in, the Davidson product seems to have a healthy perspective on his finances.

    "One thing my pops always told me is you never count another man's money," Curry said in June, according to Tim Kawakami of The Mercury News. "It's what you've got and how you take care of it. And if I'm complaining about $44 million over four years, then I've got other issues in my life."

    Curry and the Warriors are set to kick off the 2017-18 season on October 17, when they'll host Harden and the Rockets in Oracle Arena.

    SEE ALSO: The 30 highest-paid players in the NFL

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    360 video

    The digital ad space is murky, and it's becoming increasingly clear that users aren't seeing as many ads thanks to ad-blocking technology.

    And even when they do see ads, more than 60% of users say they find them annoying and intrusive.

    Furthermore, people have been shifting to mobile as their primary media consumption device in the last three years, while ad spend lagged. In short, the industry is reactive rather than proactive. As a result, U.S. digital ad revenue has become Google and Facebook, followed by everyone else.

    But immersive video through virtual and augmented reality could change all that.

    For the past seven years, IGNITION, Business Insider’s flagship conference, has collected the best minds in media and technology to share what they see as the future. Through unscripted interviews, cutting-edge demos, and insights from industry pioneers, attendees learn what key trends to be aware of and what they need to do to stay ahead.

    At this year's IGNITION, Dylan Mortensen, senior research analyst for BI Intelligence, Business Insider's premium research service, presented You Missed Mobile - Don't Miss Immersive Video, which describes how new financial technology is disrupting relationships with consumers, regulators, and legacy players.

    To get your copy of this FREE slide deck, simply click here.

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