Happy Friday! The cost of fast food has undeniably risen over the years. However, the extent of this increase may surprise you. Your beloved McDonald’s meal could have doubled in price since 2014, significantly outpacing inflation.
In today’s main feature, we unveil the finalists for our business, technology, and innovation competition. Now, it’s up to you to determine the ultimate winner.
Here’s what’s on the agenda:
- Markets: Insights into the investment strategies presented by prominent hedge funds at a leading industry event.
- Tech: X is once again verifying accounts with blue checkmarks, sparking significant discussion.
- Business: Professionals working remotely are finding creative ways to maintain social connections outside of traditional office settings.
But first, let’s dive into the grand finale.
The Highlight Story
Deciding the Victor
We are back with the latest update on our March Madness bracket.
For those catching up, a few weeks ago, we identified eight major trends in business, technology, and innovation. Readers then voted on the most significant ones.
Last week, we narrowed it down to the final four. Here are the outcomes:
[1] The AI race (86.6%) triumphs over [4] Future of social media (13.4%).
[3] US presidential election (72.4%) prevails over [2] Interest rates (27.6%).
And now, we are left with two contenders: the AI race versus the US presidential election.
Before the ultimate showdown, I reached out to sources across various sectors to gather their perspectives on the more crucial topic. Here’s a glimpse of what they shared. (Hint: A common theme emerges.)
Insights from Industry Experts:
Bruce K. Lee, CEO of Keebeck Wealth Management:
“AI takes the lead. Access to top AI investments is crucial for families. Over two decades, family offices have realized the significance of unique technological opportunities and the competitive edge they provide.”
Dan Rosen, Partner at Commerce Ventures:
“As a fintech investor, AI appears more pivotal. Its potential to reshape financial institutions’ operational models and profitability is paramount, especially amidst growing regulatory challenges and capital demands.”
European Tech Executive:
“AI’s relevance surpasses the current year due to its profound impact on present and future generations. While the US election holds significance, its influence may wane compared to the enduring effects of AI advancements.”
Ira Allen, Former Insurance Agent:
“AI is trending and transformative. Recent incidents in public schools involving AI raise questions about job displacement and creation, along with the potential autonomy of AI entities.”
Tracy Albert, Vice Chairman at Palm Tree Investment Banking:
“Artificial intelligence can enhance an investment banker’s capabilities but cannot replace the irreplaceable human qualities that underpin meaningful connections. Technology may struggle to supplant the value of personal interactions in the foreseeable future.”
Wendy Craft, CEO of the Elle Family Office (Lazarian SFO):
“AI dominates discussions among families, impacting security, privacy, and investment landscapes. While political considerations exist, the debate centers on potential revisions to Dodd-Frank provisions affecting family offices.”
Zach Blank, Lead Strategist for Chef Nick DiGiovanni:
“AI stands out as a frontrunner, revolutionizing the tech industry unlike government policies. The boundless potential of advanced AI technologies opens new horizons for innovation.”
Key Market Insights
- Hedge Funds Embrace Fundamentals at Sohn Conference: Notable figures like David Einhorn, Jesse Cohn from Elliott Management, and Greg Coffey of Kirkoswald advocate for a return to basics and prudent investment strategies.
- Goldman Sachs Partner’s Wellness Initiative: Brian Robinson advocates for holistic well-being practices to combat banker burnout, emphasizing hydration, exercise, and digital detox.
- Nelson Peltz’s Proxy Battle Analysis: Despite profiting from a prolonged battle with Disney, expert James Park suggests Peltz could have pursued more fruitful campaigns instead of the contentious proxy war.
Tech Industry Updates
- Co-Founder Departs Marissa Mayer’s Startup: Enrique Munoz Torres exits Sunshine, Marissa Mayer’s latest venture, shortly after its launch, citing a rewarding yet transient experience.
- Elon Musk Reverses Blue Check Policy: Musk reinstates blue check marks for X accounts with substantial followings, eliciting mixed reactions from recipients.
- Apple’s Workforce Reduction: Apple trims over 600 jobs in California following the discontinuation of its electric car project and in-house Apple Watch screen development.
Business Sector Developments
- Ford’s Electric SUV Delay: Ford postpones the release of its three-row electric SUVs to 2027, focusing on expanding its hybrid vehicle lineup.
- Resurgence of Happy Hour Culture: Despite remote work trends, data indicates a sustained interest in happy-hour outings, surpassing pre-pandemic spending levels in major US cities.
- Snap’s Revenue Surge Amid Election Season: Analysts predict a 13.7% growth in Snap’s ad revenue fueled by the upcoming global elections, marking a significant upturn from the previous year.
Additional Headlines
- Biden’s Diplomatic Exchange with Netanyahu over Gaza Conflict.
- Disney’s Password-Sharing Crackdown Timeline Revealed by Bob Iger.
- Crypto Market Resurgence Resonates with Past Bubble Peaks.
- Legal Ramifications for Wealth Managers Post Judge’s Ruling.
- Elon Musk’s Observations on AI Talent Competition.
- Diverse AI Career Opportunities Beyond Coding Proficiency.
- Longevity Tips from Three Lifelong Friends in Their 80s.
Upcoming Events
- Commencement of NCAA Women’s Basketball Final Four today.
The Insider Today Team:
- Dan DeFrancesco, Deputy Editor and Anchor, New York.
- Jordan Parker Erb, Editor, New York.
- Hallam Bullock, Senior Editor, London.
- George Glover, Reporter, London.
