Cafe vibes and revamped menus may not be enough for new CEO Brian Niccol to right the ship at Starbucks. The coffee chain said Monday it will lay off 1,100 corporate employees and leave several hundred open positions unfilled in a bid to become leaner and more focused. Cafe staff, as well as those who work in Starbucks' roasting, manufacturing and distribution divisions, will not be affected by the layoffs, which "are among the largest rounds of cuts in Starbucks’s history," per The Wall Street Journal.
Elizabeth Holmes's request to overturn her fraud conviction was denied by an appeals court this morning.
She's left with few remaining legal options:
1) she can petition for an en banc review by the appeals court or
2) she can ask the Supreme Court to hear her case.
But the appeal she just lost was her best chance of getting her conviction overturned, according to appellate lawyer Raffi Melkonian, who followed her criminal trial.
The fraud convictions of Theranos founder Elizabeth Holmes and her former business-and-romantic partner Ramesh “Sunny” Balwani were upheld Monday by a federal appeals court. Holmes was angling for a new trial, arguing that an expert used by the prosecution wasn't vetted by the trial judge, per Bloomberg Law. She and Balwani were convicted in 2022 of defrauding investors out of millions and misrepresenting the accuracy of healthcare startup Theranos' blood-test technology. At its peak, Theranos was valued at $9 billion.
Artificial intelligence startup Anthropic has released a new model, Claude 3.7 Sonnet, which gives users the option to receive either a quick answer, or a more in-depth response that attempts to simulate human reasoning. The launch comes as Anthropic nears a new funding round that values it at $61.5 billion, The Wall Street Journal reported, citing anonymous sources. Meanwhile, competition is intensifying from rivals xAI, DeepSeek and OpenAI, which have all recently introduced new models.
Anthropic just launched Claude 3.7 Sonnet, the best AI coding model in the world 😳
Here's everything you need to know:
Extended Thinking 🧠
This is a headline feature, allowing the model to switch between rapid responses (standard thinking) and in-depth, step-by-step reasoning (extended thinking). This dual-mode functionality is a first in AI, catering to users who need quick answers or detailed problem-solving.
Coding 👨💻
It’s described as state-of-the-art for coding tasks, capable of handling complex programming challenges, debugging, and adding functionality to codebases with advanced reasoning.
Agentic Capabilities 🤖
Designed for agentic AI, it can proactively act based on data, context, and user intent - ideal for automating workflows or building interactive AI agents.
Reasoning and Problem-Solving 🧩
It excels in complex domains like math, physics, and scientific reasoning, thanks to its enhanced reasoning techniques.
Content Generation 📝
The model generates high-quality, nuanced text, understanding tone and context for compelling outputs.
Visual Data Interpretation 📊
It can analyze charts, graphs, and diagrams, making it valuable for data analytics in industries like retail, logistics, and finance.
Anthropic is back & competition is heating up.
Fascinating times.
Here's everything you need to know:
Extended Thinking 🧠
This is a headline feature, allowing the model to switch between rapid responses (standard thinking) and in-depth, step-by-step reasoning (extended thinking). This dual-mode functionality is a first in AI, catering to users who need quick answers or detailed problem-solving.
Coding 👨💻
It’s described as state-of-the-art for coding tasks, capable of handling complex programming challenges, debugging, and adding functionality to codebases with advanced reasoning.
Agentic Capabilities 🤖
Designed for agentic AI, it can proactively act based on data, context, and user intent - ideal for automating workflows or building interactive AI agents.
Reasoning and Problem-Solving 🧩
It excels in complex domains like math, physics, and scientific reasoning, thanks to its enhanced reasoning techniques.
Content Generation 📝
The model generates high-quality, nuanced text, understanding tone and context for compelling outputs.
Visual Data Interpretation 📊
It can analyze charts, graphs, and diagrams, making it valuable for data analytics in industries like retail, logistics, and finance.
Anthropic is back & competition is heating up.
Fascinating times.
DoorDash has agreed to pay nearly $16.8 million in back pay to resolve a New York probe into its pay practices. The state attorney general says the food-delivery giant used workers' tips to "offset" their guaranteed base pay — instead of giving them their full tips — from May 2017 to September 2019. Roughly 63,000 workers are expected to share in the settlement. DoorDash is also fighting claims by rival Uber of anticompetitive practices over white-label delivery.
Hims & Hers, a telehealth services provider, will cease selling certain weight loss treatments following the Food and Drug Administration's announcement that shortages of GLP-1 medications have been resolved. The company will remove copycat doses of semaglutide, the primary ingredient in Ozempic and Wegovy, though it will continue selling versions that are customized for individual patients. Shares of Hims & Hers tumbled 18% in after hours trading on Monday.
Amidst the Trump administration's efforts to dramatically downsize the federal workforce, several government agencies have moved to rehire specialized employees shortly after terminating them. Dozens of workers at the Food and Drug Administration were called back to their jobs after receiving termination notices last week, according to multiple reports citing anonymous sources. The about-face follows recent reports of swiftly reinstated workers at the Department of Energy, the Environmental Protection Agency and the Department of Agriculture.
First it was Norah O'Donnell and Hoda Kotb, and now it's Lester Holt. Wow, legacy media really is almost gone.
Am I the only person who still watches broadcast tv as it's happening? Don't answer that. It's rhetorical and I don't want to feel old.
I asked my teenage niece and two nephews when the last time they watched the news (or any program) on live broadcast tv. Their answer? "What's live broadcast tv? A show on Netflix?"
Lester Holt has been the anchor of NBC's Nightly News for the last 10 years. I really like him.
As a former news anchor (look it up 📺 ), I am saddened to hear he is stepping down. This is why...
Don't put politics into the equation for a second because I know some of you can't help yourselves 🤨.
There was a time when many of us went home from a long day at work, turned on the TV, and watched the 30-minute news.
The anchor gave you a synopsis of what was going on in the world.
It was a passive process. The most active you'd get is discussing a story with your spouse, a family member, or neighbor (like, an actual person. Not Jckwgn1776 on X who you're not even sure is a real human being).
Today, many of us feel obligated to tell the entire world what we think about everything, everywhere, all the time. Some people thrive off it. For me, it's exhausting.
I remember the exact date the national news went live 24/7. I'm still trying to decide if that was a good or bad thing. I remember when internet "news" refreshed every 60mins/24hrs, and with social media, literal never-ending doom scrolls. No wonder we're all so frazzled; especially our youth.
It might seem like from our politically charged minds, leaving legacy media as a relic of the past seems empowering. Like, sticking it to the man somehow.
Bu I think maybe if we watched a 30 minute news wrap-up, then went back to our families and community, we might all be better for it.
Am I the only person who still watches broadcast tv as it's happening? Don't answer that. It's rhetorical and I don't want to feel old.
I asked my teenage niece and two nephews when the last time they watched the news (or any program) on live broadcast tv. Their answer? "What's live broadcast tv? A show on Netflix?"
Lester Holt has been the anchor of NBC's Nightly News for the last 10 years. I really like him.
As a former news anchor (look it up 📺 ), I am saddened to hear he is stepping down. This is why...
Don't put politics into the equation for a second because I know some of you can't help yourselves 🤨.
There was a time when many of us went home from a long day at work, turned on the TV, and watched the 30-minute news.
The anchor gave you a synopsis of what was going on in the world.
It was a passive process. The most active you'd get is discussing a story with your spouse, a family member, or neighbor (like, an actual person. Not Jckwgn1776 on X who you're not even sure is a real human being).
Today, many of us feel obligated to tell the entire world what we think about everything, everywhere, all the time. Some people thrive off it. For me, it's exhausting.
I remember the exact date the national news went live 24/7. I'm still trying to decide if that was a good or bad thing. I remember when internet "news" refreshed every 60mins/24hrs, and with social media, literal never-ending doom scrolls. No wonder we're all so frazzled; especially our youth.
It might seem like from our politically charged minds, leaving legacy media as a relic of the past seems empowering. Like, sticking it to the man somehow.
Bu I think maybe if we watched a 30 minute news wrap-up, then went back to our families and community, we might all be better for it.
Thinking about buying a home? Here’s what to watch to understand when things might get affordable.
Home prices have surged in recent years and remain high due to both low inventory and low demand issues across regions. Add in climbing insurance and HOA fees, and affordability keeps slipping.
Two key numbers this week could tell you a lot: Existing and New Home Sales reports.
1️⃣ Existing Home Sales: Fewer people resold their homes in January. There's more supply than a year ago, but still less than what the National Assoc of Realtors thinks is the minimum for healthy supply to sustain buyers.
2️⃣ New Home Sales: Due up on Wednesday
Here’s why it matters:
➡️ Mortgage costs are still high, making homes unaffordable. The average 30-year mortgage now costs 2x more than a few years ago.
➡️ Unsold new homes are piling up to levels not seen since 2008. But affordable existing homes are still in short supply.
➡️ Why? Homeowners with low mortgage rates are staying put—85% have rates below current levels, and 4 in 10 homes have no mortgage at all.
➡️ Retirement-age Americans, the largest group of homeowners, usually sell, downsize, and live off the sale. But higher living costs, insurance, and mortgage rates make that less appealing.
Home prices have surged in recent years and remain high due to both low inventory and low demand issues across regions. Add in climbing insurance and HOA fees, and affordability keeps slipping.
Two key numbers this week could tell you a lot: Existing and New Home Sales reports.
1️⃣ Existing Home Sales: Fewer people resold their homes in January. There's more supply than a year ago, but still less than what the National Assoc of Realtors thinks is the minimum for healthy supply to sustain buyers.
2️⃣ New Home Sales: Due up on Wednesday
Here’s why it matters:
➡️ Mortgage costs are still high, making homes unaffordable. The average 30-year mortgage now costs 2x more than a few years ago.
➡️ Unsold new homes are piling up to levels not seen since 2008. But affordable existing homes are still in short supply.
➡️ Why? Homeowners with low mortgage rates are staying put—85% have rates below current levels, and 4 in 10 homes have no mortgage at all.
➡️ Retirement-age Americans, the largest group of homeowners, usually sell, downsize, and live off the sale. But higher living costs, insurance, and mortgage rates make that less appealing.
This is really a tale of two markets. Nationally, home sales are at their lowest since 1995, and affordability remains a major challenge with mortgage rates near 7%. In many areas, prices surged post-pandemic, and now, with more sellers coming off the sidelines, rising inventory is putting downward pressure on prices—especially for homes that need work.
But Manhattan is telling a different story. In the $4M+ luxury segment, we didn’t experience the big post-pandemic price surge, and prices remain below the 2014 peak. Contracts have been rising since Q4, and so far in 2024, inventory remains tight. In the broader Manhattan market, inventory is still coming in light, which could keep prices stable or even push them higher.
For the general U.S. market, more listings and sticky mortgage rates are creating a shift. Some areas may see price corrections as supply builds, while others remain resilient due to inventory constraints. It’s not a one-size-fits-all market—local dynamics will drive what happens next.”
But Manhattan is telling a different story. In the $4M+ luxury segment, we didn’t experience the big post-pandemic price surge, and prices remain below the 2014 peak. Contracts have been rising since Q4, and so far in 2024, inventory remains tight. In the broader Manhattan market, inventory is still coming in light, which could keep prices stable or even push them higher.
For the general U.S. market, more listings and sticky mortgage rates are creating a shift. Some areas may see price corrections as supply builds, while others remain resilient due to inventory constraints. It’s not a one-size-fits-all market—local dynamics will drive what happens next.”
New York City’s congestion pricing is proceeding as planned — financially, at least. The $9 toll on drivers into Manhattan’s busiest areas brought in $48.6 million during its first month, in line with projections by the Metropolitan Transportation Authority. The first program of its kind in the U.S. is under attack by the new administration, even as it aims to reduce traffic and improve air quality. So far, it’s resulted in 10% fewer and faster-moving vehicles.