Welcome to our Sunday edition, a roundup of some of our biggest news stories.
Are you an early riser? That’s not the case, so I was impressed when a colleague decided to emulate Apple CEO Tim Cook’s daily routine by setting an alarm for 4:45 a.m. She ended the week exhausted and with a burgeoning caffeine addiction.
But first : The effects of the deadly Baltimore bridge collapse will be felt for months. Here’s an overview in less than 200 words.
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The Francis Scott Key Bridge collapsed Tuesday. Tasos Katopodis/Getty Images
This week’s shipment
A disaster in Baltimore
At 1:28 a.m. ET Tuesday, the 984-foot-long container ship Dali crashed into the Francis Scott Key Bridge in Baltimore, causing it to fall.
The ship had lost power and called “Mayday”. Officers on scene can be heard holding back traffic from the bridge in dispatch audio. The impact was captured during a livestream. A small construction crew was repairing potholes on the bridge itself. Six are presumed dead.
The Port of Baltimore is now closed “until further notice,” disrupting daily economic activity for an estimated $15 million. Cruise ships were hijacked. The auto industry faces supply chain issues with the port being the largest U.S. handler of auto imports and exports.
There are environmental concerns. The ship was carrying 764 tonnes of hazardous materials and some containers were broken.
And there’s a bill to pay. The ship’s owner is expected to invoke an 1851 law to limit its liabilities. A historic market in London will face billions in claims.
The accident was a tragic accident. It’s also what happens when 95,000 tons of a modern cargo ship encounters America’s aging infrastructure. And it reminds us of the precariousness of just-in-time supply chains and global trade.
Sam Altman will be keen to avoid Facebook’s electoral errors. Kent Nishimura
VCs are over Sam Altman
The criticism is coming quietly for one of the biggest names in tech.
Few in the business world have seen their star rise as quickly and as high as Sam Altman, CEO of OpenAI. But some venture capitalists are growing weary and skeptical of what they see as Altman’s self-mythologizing.
However, the criticism mostly takes place behind the scenes, as venture capitalists recognize the power Altman holds in the industry.
Sam Altman’s act is wearing thin for some.
art-4-art/Getty Images; Adobe Firefly; Jenny Chang-Rodriguez/BI
The pension crisis in the United States
Older Americans are finding it difficult to quit their jobs due to their financial situation.
Just under 20% of Americans 65 and older were employed last year, compared to 11% in 1987, according to a Pew report. And conditions could worsen as young people struggle to save while paying off housing and student loans.
As one employee in her sixties said: “I think I’m going to die in this job. I’m going to die in this office because I have no way out. »
Meet the Americans Who Can’t Retire.
Read also :
Hannes P Albert/photo alliance via Getty Images;Chelsea Jia Feng/BI
Microsoft’s Copilot conundrum
Microsoft faces a common complaint among users of its AI tool, Copilot: it doesn’t work as well as ChatGPT.
Feedback on the tool has been mixed to positive, but comparisons to ChatGPT continue to pile up, according to Microsoft employees who spoke to BI.
One of the problems, according to Microsoft, is that customers are not using the new tools correctly. That’s why the company pays a partner to create videos to teach users how to write better prompts.
How Microsoft handles Copilot complaints.
Japan’s recovery is a warning shot for China
Japan is finally emerging from the economic hole it dug in the early 1990s due to the implosion of real estate. The country’s stock market has surpassed all-time highs and Wall Street sees more promise.
Today, China finds itself in a similar situation to Japan, as it faces a collapse in the real estate market. But Japan’s recovery won’t be easy to replicate for China, which has resisted stimulus plans and faces a tough trade market.
Why China might struggle to replicate Japan’s recovery.
This week’s quote:
“You should figure out how to do that.”
Mark Zuckerberg in an email to one of his employees
More top reads this week:
Elon Musk takes ketamine and techs microdose mushrooms. So it’s OK to do drugs at work now?
Billionaire Marc Andreessen sells his house for more than $33 million.
Warren Buffett’s favorite market indicator has hit a 2-year high, signaling that stocks are heavily overvalued and could crash.
I thought the Apple Vision Pro would bring utopia. Now it scares me a lot.
Trump got a whopping 62% discount on his bail. This is extremely rare, lawyers say.
What everyone is getting wrong about the real estate market right now.
In an ocean of white data, this founder is trying to make AI less biased. Don’t call it “BlackGPT”.
The Insider Today team: Matt Turner, deputy editor, in New York. Jordan Parker Erb, editor-in-chief, in New York. Dan DeFrancesco, associate editor and presenter, in New York. Lisa Ryan, editor-in-chief, in New York.
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