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Insider Today: Billionaires’ Favorite Festival

Posted on by darion

Welcome back to our Sunday edition, where we give you a round-up of the most important news. We keep hearing about the dangers of ultra-processed foods, but what are their real effects on the body? A food policy expert tried an all-UPF diet for a month. He lasted five days.

But first: A whole lot of noise.

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Shipping this week


Photographic illustration by Jensen Huang

Noah Berger/Getty Images; Jenny Chang-Rodriguez/BI; Chelsea Jia Feng/BI



Great expectations

Sometimes good isn’t good enough.

That was the case for Nvidia this week when it reported its second-quarter earnings. (That’s pronounced “en-VID-eeyah,” by the way. Some of you seem a little confused.)

The chipmaker beat second-quarter revenue and EPS estimates. The future also looks bright, with Nvidia’s third-quarter revenue forecast beating average estimates.

So where does the problem lie?

The forecasts did not meet the wildest expectations and were disappointing. greedy optimistic investors and falling stock prices.

That led some to wonder whether Nvidia was anticipating a pushback from customers who were faced with tough questions about the payoff of AI investments. Nvidia CEO Jensen Huang tried to calm nerves by talking about how customers are getting a return on their AI spend.

However, what is trash to one person may be treasure to another, and the decline in Nvidia stock was seen by many on Wall Street as a buying opportunity.

But while Nvidia’s earnings raised questions about its interest in AI investments, we got our answer shortly thereafter.

Reports of interest from Apple and Nvidia in investing in OpenAI’s latest funding round, which values ​​the startup at over $100 billion, show how popular the industry still is.


Photographic illustration of dating app founders Elle Wilson, Nandini Mullaji and Anushka Joshi

Courtesy of Elle Wilson; Nandini Mullaji; Anushka Joshi; Getty Images; Chelsea Jia Feng/BI



Hot new dating app enters the villa

If you’re tired of swiping on Tinder and think you’re stuck in Hinge’s “rose prison,” look no further than 11 new dating apps that are poised to change the face of the industry.

Some are designed by dating coaches, others by influencers and young tech professionals. They focus on connection, in-person meetups, and a general disdain for endless swiping.

Dating Bombs in the Digital Age.


Amazon Web Services logo with first place ribbons, and the OpenAI and Microsoft logos in the background.

Amazon; OpenAI; Microsoft; GettyImages; Chelsea Jia Feng/BI



Talking nonsense

Leaked internal AWS sales guidelines reveal how the cloud computing giant wants its representatives to talk about artificial intelligence — and its competitors.

The guidelines recommend that employees answer customer questions about OpenAI’s rivals, Microsoft and Google. Of the three, Sam Altman’s company is the biggest perceived threat; Amazon really wants to dispel the hype around ChatGPT and raise doubts about OpenAI’s security.

How Amazon plays the attack.

Read also:


Burning Man Festival

JULIE JAMMOT/Getty Images



Billionaires’ Playground

Forget the Hamptons—hundreds of private jets landed on a makeshift runway in the Nevada desert this week. Officially called Black Rock City Municipal Airport, it’s the gateway to the billionaires’ playground of Burning Man.

Built specifically for the festival and operated almost exclusively by volunteers, the temporary airport only operates for about two weeks before being dismantled “without a trace.”

Inside the airport you might miss in a blink of an eye.


Photomontage of a box of tissues, thermometer and tablets.

GettyImages; Jenny Chang-Rodriguez/BI



I can’t, I’m sick. *cough*

More and more American workers are taking sick leave, and Generation Z is leading the movement.

While there’s no single factor that can explain the shift, experts have pointed to a growing shift in attitudes among workers who are prioritizing work-life balance and self-care. And thanks to the pandemic, more people are seeing value in staying home when they’re truly sick.

Everything is fine, stay at home.

Quote of the week:

“Accountant? Why do you want to be an accountant?”

— Bryan, 23, recalls his mother’s reaction when he learned he planned to study accounting.

More top reads this week:

  • The presidential election is merely a distraction that Silicon Valley wants to get rid of as quickly as possible.
  • What Mark Zuckerberg really said — and didn’t say — in his letter to Congress.
  • How to Succeed in an Interview, According to a Snap and Meta Product Manager.
  • Former billionaire John Foley says he lost all his money after being fired as Peloton’s CEO.
  • OpenAI has subpoenaed ChatGPT as a witness in a major copyright lawsuit.
  • Apple’s big iPhone 16 event now has an official date. Here’s what to expect.
  • Investors should watch this simple recession indicator.
  • How Alex Cooper’s $125 million podcast deal with SiriusXM actually works.
  • New job alert: OpenAI is looking for someone to research its own employees.
  • Eight innovative technology projects on Wall Street, from Blackstone to Goldman Sachs.
  • JD Vance commented on this awkward donut shop video.

  • Some baby boomers say Social Security no longer works.

    Insider Today Team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Grace Lett, editor, in Chicago. Amanda Yen, colleague, in New York.