Category: Economics

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Sources: Byju’s plans to sell Epic, acquired for $500M, to settle debts after defaulting on $1.2B+ in loans, and may also sell Great Learning, bought for $600M

—  Online education company was once India’s most valuable start-up but now plans asset sales to settle debts

 

 

Chloe Cornish / Financial Times:

 

 

An educational technology empire rapidly assembled by Byju’s during a pandemic funding boom is now set to be dismantled, as what was once India’s most valuable start-up looks to asset disposals to settle its pressing debts.

 

Byju’s had used loans and a war chest of more than $2bn, gathered from venture capital during the pandemic, to go on an acquisition spree, aiming to capitalise on the trend towards online learning and become a global edtech powerhouse. But overexpansion and a post-pandemic contraction in its market have left it desperate for cash to pay off creditors. The principal ones hold notes for a $1.2bn dollar-denominated term loan it took out in 2021 and has defaulted on, embroiling it in lawsuits and countersuits across the US.

 

In addition, it has borrowed $250mn this year from investment firm Davidson Kempner Capital Management, although two people with knowledge of the situation said under $100mn was disbursed before Byju’s defaulted on that loan too.

 

A lawyer familiar with the situation said he expected “Byju’s to drive a lot of M&A in the coming months.” Its efforts to realise cash through disposals are set to begin with Epic, a California-based digital reading platform, which it acquired in 2021 for $500mn. One person familiar with the matter said term sheets had been drawn up for a deal and another said Moelis, the investment bank, was running the sales process. Moelis declined to comment.

 

Nirgunan Tiruchelvam, head of consumer and internet at Singapore-based Aletheia Capital, said “a battle for the spoils” was beginning, as “various parts of the business could be sold to people who are interested in buying an asset at a discount to its fair value.”

 

Those spoils could include Byju’s subsidiary Great Learning, which offers online higher education courses. Through legal action, Byju’s term lenders won the right to appoint financial firm Kroll to oversee the Singapore-based edtech company. Byju’s acquired Great Learning just two years ago for $600mn, but two people familiar with the matter said it was likely Great Learning would ultimately be sold to help settle debts.

 

Byju’s financial problems also extend to the presentation of its accounts. It is roughly one year late in filing them for its financial year that ended in March 2022 and its chief financial officer Ajay Goel is quitting the company at the end of this week. Goel is rejoining Indian conglomerate Vedanta as CFO, after only leaving it in April to join Byju’s. He told investors in June that the audit to March 2022 would be completed by September.

 

The edtech company, which delayed reporting a $560mn loss in its 2020-2021 year, has suffered the resignation of its auditor Deloitte and of three board members representing its backers. One of them, Prosus, has written down its stake to give Byju’s an implied valuation of just $5bn, down from $22bn last year.  Byju’s did not respond to a request for comment.

 

 

 

— Techmeme

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DEI Trailblazer Awards 2023 nominees announced

TRENTON, NJ – The African American Chamber of Commerce of New Jersey and the New Jersey Chamber of Commerce are excited to announce the nominees for the 2023 DEI Trailblazer Awards.

This event, now in its second year, aims to recognize companies and organizations that are making substantial strides in the areas of Diversity, Equity, and Inclusion (DEI). The awards reception, which celebrates these nominees and awardees, will take place on Monday, Nov. 20, 2023, at the Old Mill Inn in Basking Ridge, New Jersey, from 5-8 p.m.

The DEI Trailblazer Awards feature six distinct categories, each acknowledging a specific aspect of DEI commitment:

  • Supplier Diversity: Recognizing businesses that prioritize contracting with diverse enterprises for goods and services.
  • Access to Capital: Acknowledging businesses that actively work to enhance access to capital for historically marginalized businesses and entrepreneurs.
  • Corporate Board Diversity: Celebrating businesses with board compositions that reflect individuals from historically underrepresented communities.
  • Workforce Diversity: Commending businesses that demonstrate a commitment to diversity within their staff through comprehensive recruiting, hiring, and retention efforts.
  • Corporate Citizenship: Honoring businesses that engage in philanthropy and community engagement efforts, particularly benefiting historically marginalized communities.
  • Emerging DEI Influencer: Recognizing businesses in the early stages of implementing intentional efforts across the above categories.

 

The 2023 DEI Trailblazer Awards nominees are:

  1. AmeriHealth
  2. Bank of America
  3. Bridge Builders Newark, LLC
  4. CannPowerment
  5. The Ceceilyn Miller Institute for Leadership & Diversity
  6. Chiesa Shahinian & Giantomasi PC
  7. Cole Schotz
  8. Delta Dental of New Jersey
  9. Gibbons P.C.
  10. Hackensack Meridian Health
  11. Johnson & Johnson
  12. Lockerbie & Co.
  13. Modivcare
  14. New Jersey Institute of Technology
  15. Phillips 66-Bayway Refinery
  16. PSEG
  17. Santander US
  18. Somerset County Business Partnership
  19. Tené Nícole Creative Agency
  20. UnitedHealth Group
  21. We Are Jersey

 

The awardees for 2023 will be revealed during the awards reception on Monday, Nov. 20.

 

“As we unveil the remarkable nominees for the 2023 DEI Trailblazer Awards, we are inspired by the dedication of these organizations to Diversity, Equity, and Inclusion. They are setting a strong example for all of us,” remarked AACCNJ Founder, President, and CEO John E. Harmon Sr., IOM. “I invite everyone to join us at the awards reception, where we will celebrate the achievements of these nominees and unveil the awardees. Your presence at this event is not just a testament to your support for DEI but also a commitment to fostering a more inclusive business landscape. Together, we can make a significant impact in the pursuit of equity and diversity in our communities.”

 

“The success of our inaugural DEI Trailblazer Awards left a lasting impact, but this year’s event promises to build on that legacy in even more profound ways. It’s inspiring to see organizations across New Jersey making substantial strides in Diversity, Equity, and Inclusion,” added New Jersey Chamber of Commerce President and CEO Thomas Bracken. “We encourage everyone to be a part of this remarkable journey by attending the awards reception. Your presence will not only celebrate the achievements of our nominees but also propel us toward a more inclusive and equitable business environment. Together, we can continue to shape a future that reflects the values of diversity and equality.”

 

Notably, last year’s event featured the following nominees:

  1. Abitronix, LLC
  2. American Water Works
  3. Back Thru the Future
  4. Bestwork Industries for the Blind, Inc.
  5. Curio Wellness/Far & Dotter
  6. HelloFresh
  7. Joseph Jingoli & Son, Inc.
  8. Lyft
  9. Mental Health Association in New Jersey
  10. Phillips 66-Bayway Refinery
  11. PMO Solution Pro, LLC
  12. Princeton Area Community Foundation
  13. Quality Dental School of Technology, Inc.
  14. Somerset County Business Partnership
  15. Target International Shipping Inc.
  16. Truist Bank
  17. Valley Bank

 

The 2022 awardees included Burns & McDonnell for Supplier Diversity, Union County Economic Development Council for Access to Capital, Columbia Bank for Corporate Board Diversity, Hackensack Meridian Health for Workforce Diversity, Gibbons P.C. for Corporate Citizenship, and Provident Bank for Emerging DEI Influencer.

 

To celebrate the 2023 nominees and learn more about this year’s awardees, kindly register for the awards reception at https://njchamber.com/events/dei-trailblazer-awards.

About the African American Chamber of Commerce of NJ

The African American Chamber of Commerce of New Jersey (AACCNJ) performs an essential role in the economic viability of New Jersey. While providing a platform for New Jersey’s African American business leaders to speak with a collective voice, the AACCNJ advocates and promotes economic diversity fostering a climate of business growth through major initiatives centering on education and public policy. The AACCNJ is a proactive advocacy group with a 501(c)(3) tax exemption, as is the National Black Chamber of Commerce, with which the AACCNJ is affiliated.

About the New Jersey Chamber of Commerce

The New Jersey Chamber of Commerce is a business advocacy association based in Trenton that lobbies key stakeholders for legislation and policies designed to make New Jersey a desirable state to operate a business and establish good-paying jobs. Chamber member companies receive exclusive invitations to events that offer valuable networking and educational opportunities. Additionally, the Chamber regularly disseminates legislative updates, industry insights, and employer-related news critical to conducting business in New Jersey. The organization unites local and regional chambers of commerce across the state to address significant business issues. The New Jersey Chamber of Commerce Foundation is committed to equipping New Jersey’s future workforce with the essential skills required for success in both college and employment.

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Mobile Academy to launch AACCNJ Entrepreneur Academy

TRENTON, NJ – The African American Chamber of Commerce New Jersey’s (AACCNJ) Mobile Academy is pleased to announce the formation of the AACCNJ Entrepreneur Academy.

 

This eight-part program is tailored to empower new entrepreneurs and those considering business ownership by equipping them with the knowledge and skills needed to succeed in their ventures. All classes will be free of charge, facilitated by seasoned entrepreneurs and consultants, and held in-person at Mill One located at 1 N. Johnston Ave., Hamilton, NJ.

 

“We are excited to offer this opportunity to aspiring entrepreneurs in New Jersey,” said John E. Harmon Sr., IOM, Founder, President and CEO of AACCNJ.

 

“The AACCNJ Entrepreneur Academy empowers individuals from all backgrounds to take the next step toward realizing their dreams of self-sufficiency and generational wealth creation. By providing this program at no cost, we aim to remove barriers and ensure that all interested individuals have the chance to participate.”

 

The AACCNJ Entrepreneur Academy will cover a wide range of topics crucial to entrepreneurial success, including:

 

  1. ABCs of Starting a Small Business
  2. Writing a Business Plan/QuickBooks
  3. Goal Setting
  4. Marketing Your Business
  5. 5 Cs of Credit/Access to Capital
  6. Accounting Do’s and Don’ts and Taxes
  7. Networking 101
  8. Excellent Customer Service
  9. How to Obtain MBE or WMBE Certifications

 

The academy is a testament to AACCNJ’s ongoing commitment to fostering economic growth and equity in disadvantaged communities. This initiative aligns with AACCNJ’s mission to provide resources, opportunities, and information to individuals looking to make a meaningful impact in the business world.

About the African American Chamber of Commerce of New Jersey

The African American Chamber of Commerce of New Jersey (AACCNJ) performs an essential role in the economic viability of New Jersey. While providing a platform for New Jersey’s African American business leaders to speak with a collective voice, the AACCNJ advocates and promotes economic diversity fostering a climate of business growth through major initiatives centered on education and public policy. The AACCNJ serves as a proactive advocacy group and holds a 501(c)(3) tax exemption, as does the National Black Chamber of Commerce, with which the AACCNJ is affiliated.

 

Click here to be considered for the academy’s inaugural cohort. For any inquiries or assistance, please send an email to mobileacademy@aaccnj.com.

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Business Culture Economics Healthcare Lifestyle Technology

Organon to report third quarter results and host conference call on Nov. 2, 2023

JERSEY CITY, N.J. — (BUSINESS WIRE) — Organon (NYSE: OGN), a global healthcare company with a focus on women’s health, will release its third quarter 2023 financial results on Nov. 2, 2023, prior to the company’s webcast and conference call scheduled for 8:30 a.m. EST.

 

Interested parties may access the live call via webcast on the Organon website at https://www.organon.com/investor-relations/events-and-presentations/. A replay of the webcast will be available approximately two hours after the conclusion of the live event on the company’s website.

Institutional investors and analysts interested in participating in the call must register in advance by clicking on this link: https://conferencingportals.com/event/VfCOQYEG.

 

Following registration, participants will receive a confirmation email containing details on how to join the conference call, including dial-in information and a unique passcode and registrant ID. Pre-registration will allow participants to bypass an operator and be placed directly into the call.

 

About Organon

Organon is a global healthcare company formed to focus on improving the health of women throughout their lives. Organon offers more than 60 medicines and products in women’s health in addition to a growing biosimilars business and a large franchise of established medicines across a range of therapeutic areas. Organon’s existing products produce strong cash flows that support investments in innovation and future growth opportunities in women’s health and biosimilars. In addition, Organon is pursuing opportunities to collaborate with biopharmaceutical innovators looking to commercialize their products by leveraging its scale and presence in fast growing international markets.

 

Organon has a global footprint with significant scale and geographic reach, world-class commercial capabilities, and approximately 10,000 employees with headquarters located in Jersey City, New Jersey.

 

For more information, visit http://www.organon.com and connect with us on LinkedIn, Instagram, Twitter and Facebook.

Contacts

Organon Media:

Karissa Peer

(614) 314-8094

Kate Vossen

(732) 675-8448

Organon Investor:

Jennifer Halchak

(201) 275-2711

Alex Arzeno

(203) 550-3972

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Amerigroup’s New Jersey Health Plan to be renamed Wellpoint in January 2024

  • No impact or changes to members’ health plan benefits, services, and care provider network as a result of the new name
  • New name reflects the company’s continued evolution to deliver whole health
  • Wellpoint is focused on improving the health of individuals and communities at all points of life

 

 

ISELIN, N.J. — (BUSINESS WIRE) — Amerigroup New Jersey, Inc., a subsidiary of Elevance Health serving NJ FamilyCare/ Medicaid and Medicare enrollees, will begin rebranding as Wellpoint in January 2024 to reflect the company’s evolution to support whole health.

 

There will be no impact or changes to Wellpoint members’ healthcare benefits or coverage. Members will continue to have access to their established primary care providers, specialists, hospitals, and other healthcare facilities. Also, healthcare providers who serve Wellpoint members will have continued access to tools and resources to help streamline day-to-day administrative tasks.

 

“This rebranding is a continuation of our bold and ambitious purpose to improve the health of humanity by serving people across their entire health journey; connecting them to care, support and resources; and simplifying healthcare to make health more equitable and accessible,” said Patrick Fox, MD, president of Amerigroup New Jersey. “Our local presence enables us to design our benefits and programs to fit the unique needs of New Jersey communities. Wellpoint is a name that illustrates our dedication to being a lifetime, trusted health partner with a mission to help people live well across all life points.”

 

Wellpoint’s suite of health benefits is designed for consumers at any stage of life offering access to simple, supportive health solutions to help foster whole health. In addition, Wellpoint plans are committed to helping individuals improve their health through Healthy Reward incentives for wellness visits and added benefits such as gift cards for completing health screenings, newborn supplies for new mothers, and resources to support emotional well-being.

 

Subject to state regulator approval, new ID cards with the Wellpoint brand will be mailed in early 2024. Members can continue using their current card to access all existing services until they receive their new card. New Jersey members who have questions can contact Member Services via the phone number on the back of their ID card.

 

For member and provider information and updates, please visit www.wellpoint.com.

 

About Wellpoint

Wellpoint, part of the Elevance Health family of brands, focuses on improving physical health as well as the behavioral and social drivers that impact it through a comprehensive suite of Medicare, Medicaid, and Commercial products. The Wellpoint companies offer healthcare services for consumers at any stage of life seeking to make the right care decisions and helps individuals and communities make real, positive progress with health plans that foster independence, confidence, and whole-person health. For more information, please visit www.wellpoint.com.

Contacts

Stephanie DuBois

(603) 722-3087

stephanie.dubois@anthem.com

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Business Culture Economics Lifestyle Regulations & Security

AM Best revises Issuer Credit Rating outlook to positive for Guardian Insurance Company, Inc.

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” (Good) of Guardian Insurance Company, Inc. (Guardian) (St. Thomas, U.S. Virgin Islands). The outlook of the FSR is stable.

 

The Credit Ratings (ratings) reflect Guardian’s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management.

 

The positive Long-Term ICR outlook reflects the improvement in Guardian’s operating performance over the past three years, with that trend continuing into 2023. Since 2020, the company has reported favorable net underwriting income, positive pre-tax operating income, and overall net income of over $6.5 million. These results are due primarily to improved underwriting performance, steady net investment income and, to a lesser extent, other income. As a result, the company’s five-year average pre-tax and total returns on revenue and equity compare favorably with the composite.

 

Guardian’s balance sheet strength metrics also have improved as additions to policyholder surplus have been reported for three consecutive years and through June 30, 2023. In recent years, surplus growth has outpaced premium expansion resulting in lower underwriting leverage ratios. Despite this improvement, net and gross underwriting leverage ratios compare unfavorably with the composite. Also, overall surplus growth and overall risk-adjusted capitalization are dampened by periodic dividends paid to its ultimate parent, Lockhart Companies, Inc.

 

Guardian writes about two-thirds of its business in the U.S. Virgin Islands and the other one-third in Puerto Rico. Despite this geographic and product concentration, the company maintains a neutral business profile due to its market leader position in the U.S. Virgin Islands, with over 60% of the automobile market. In addition, Guardian is the largest domestic insurer, and it controls 73% of its gross written premium through its own agency.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Kevin Dorsey
Senior Financial Analyst
+1 908 882 1747
kevin.dorsey@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Joseph Burtone
Director
+1 908 882 1678
joseph.burtone@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

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Celebrating Osprey Point’s grand opening: Little Ferry’s newest senior housing community

LITTLE FERRY – Local, state, and federal officials recently united in celebration at the grand opening of Osprey Point, a groundbreaking senior housing development featuring 85 affordable senior rental apartments with essential supportive housing services

Osprey Point serves as a prime example of the profound impact that creating affordable housing in close proximity to essential services and amenities can have on enhancing the quality of life for both seniors and individuals with special needs. Notably, 68 of these apartments are specifically designated for residents aged 55 or older, strategically positioned near a community center offering vital services to help seniors maintain an active and independent lifestyle. An additional 22 units are dedicated to residents with special needs, 14 of which are apartments tailored for individuals living with Intellectual and Developmental Disabilities, while the remaining 8 are supported apartments designed to cater to those in need of mental health services.

While Osprey Point’s three-story building extends a warm welcome to residents and guests and contains meticulously designed apartments, what truly sets it apart is its unwavering commitment to providing high-quality affordable housing opportunities with independent and supported living options to seniors and vulnerable populations at affordable rates.

“Osprey Point represents inclusivity and affordability, ensuring that Little Ferry seniors have an affordable and secure place to call home, as well as a state-of-the-art community space that brings all Little Ferry residents together,” stated NJHMFA Executive Director Melanie Walter. “Affordable housing for seniors helps long-time residents and workers remain in their hometowns, which is critical to preserving a community’s roots while helping it grow and thrive. NJHMFA is committed to providing support to older New Jersey residents with limited or fixed incomes, enabling them to age comfortably in place while preserving their independence and dignity.”

Situated in a peaceful residential neighborhood, Osprey Point offers its residents easy access to the surrounding parks, trails, gardens, and outdoor seating, while simultaneously being a short drive from numerous shops, grocery stores, restaurants, and entertainment venues to meet residents’ needs. For residents who enjoy birdwatching, Mehrhof Pond is conveniently located next door, while those seeking faster-paced entertainment options will find the Meadowlands Racing and Entertainment Complex and the MetLife Sports Complex just a five-minute drive away.

“For decades it’s been a dream. We wanted to give our senior population on a fixed income an affordable, safe, housing option. We were thrilled to realize that dream and officially open the complex this week,” said Little Ferry Mayor Mauro Raguseo. “This building is more than just a beautiful structure of bricks and mortar.  For so many it represents hope and financial stability for the future.  It means our seniors have an opportunity to stay in the community they love.  It is a shining example of what can be accomplished if we have a vision and work together in a public-private partnership to get things done.”

For residents with special needs, Vantage Health System will provide social services and intensive on-site support to promote personal independence, life skills, and integration into the community.

Partnerships with Regan Development, the Borough of Little Ferry, the Bergen County Office of Community Development, the New Jersey Housing Mortgage Finance Agency, and Berkadia have been indispensable in bringing this vital development to fruition.

“Regan Development is proud to have partnered with the Borough of Little Ferry, the State of New Jersey and its HMFA, DDD and DMHAS, DEP and NJSEA divisions as well as Bergen County, TD Bank and Berkadia to successfully provide 85 high-quality energy, efficient, senior and supportive housing units for Little Ferry residents,” said Larry Regan, President of Regan Development Corporation. “All public and private sector partners came together to overcome the challenges of Covid cost increases and spikes in interest rates to successfully bring the project to occupancy.”

“Bright, safe, affordable housing is essential for our senior communities who deserve to live in comfort,” said Congressman Bill Pascrell (D-NJ-09). “We are in dire need of more quality, affordable senior housing in northern New Jersey. The construction of these apartments supported by federal tax credits will create valuable housing options for seniors and those with special needs in Little Ferry. Every time we open buildings like Osprey Point, we can help improve the lives of more of our neighbors – that’s a good thing.”

“Osprey Point embodies our shared commitment to inclusivity and affordability, providing a secure and affordable home for Bergen County seniors, with direct access to essential amenities,” said Bergen County Executive Jim Tedesco. “This development is a testament to the power of partnerships and the impact we can achieve when we work together to address the housing needs of our senior and vulnerable populations, ensuring they can maintain their independence and dignity while enjoying their golden years in the community they love.”

NJHMFA financing, including $2.8 million from the Special Needs Housing Trust Fund and $1.7 million from the Affordable Housing Production Fund Set Aside, played a pivotal role in making this project viable. Unforeseen disruptions during the pandemic required NJHMFA to grant hardship credits and provide additional assistance to ensure construction was able to commence in September 2021.

 

About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit:

https://NJHousing.gov/

 

About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit: https://NJHousing.gov/

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Best noise-cancelling earbuds: Here’s where to get Bose, Sony, Apple, Samsung and more online

While noise-cancelling headphones are great, noise-cancelling wireless earbuds may have the upper hand when it comes to being more compact and lightweight. If you consider yourself an active person, then a good pair of noise-cancelling earbuds might be better for you, so you don’t have a clunky pair of headphones getting in your way.

 

If you’re looking for some peace and quiet when working from home, during your daily commute or just working out at the gym, then you’ll want to take a look our roundup of the best noise-cancelling earbuds for all sorts of different users from top brands, like Sony, Apple, Bose, Samsung and much more.

 

We considered audio quality, battery life, design and use cases to find what works best at a wide range of prices.

 

Best for most people

Sony WF-1000XM5 Wireless Earbuds

— Amazon

 

 

The Sony WF-1000XM5 Wireless Earbuds are the best for most people, thanks to their excellent audio, premium noise-cancellation settings and overall comfortable and secure in-ear fit. These earbuds connect to just about any mobile device or laptop via Bluetooth, while their long battery life of up to 24 hours of use with their included wireless charging case makes listening to your favorite music and podcasts a joy.

 

$278$299.997% Off

BUY NOW ON AMAZON

Best budget

Jabra Elite

— Amazon

 

 

If you’re on a budget, then the Jabra Elite 3 are for you. Not only do these earbuds feature fantastic audio, a sleek design and smart noise-cancellation, but their also very affordable at just $50 for the standard dark gray model. These earbuds also have an impressive battery life of up to 28 hours with their charging case.

 

$49.99

BUY NOW ON AMAZON

Best for noise-cancelling

Bose QuietComfort Ultra Wireless Earbuds

— Amazon

 

 

Want complete peace and quiet? The Bose QuietComfort Ultra Wireless Earbuds feature the audio company’s “CustomTune” technology that analyzes your ears and adapts sound on-the-fly, while these buds offer you active noise-cancellation with premium audio — in which Bose is known. This means your listening experience is custom made just for you.

 

The Beats Fit Pro are sweat and water resistant, so they’re ideal for working out at the gym or going for a long run in the park. The earbuds feature a flexible and secure wingtip design that’s comfortable, while they keep the buds stable in your ears. And since they’re from Beats by Dre, the Fit Pro buds have high quality audio that’s clear and rich with deep and thumping bass.

 

 

Read more here:

https://variety.com/2023/shopping/news/best-noise-cancelling-earbuds-buy-online-1235755332/

 

 

— Variety

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Business Culture Digital - AI & Apps Economics Lifestyle Technology

ChatGPT overtakes Netflix in web traffic

The digital landscape continues to evolve, mainly driven by the ceaseless march of technological innovation. Amid this ever-shifting landscape, ChatGPT, the artificial intelligence (AI) language model developed by OpenAI, has risen to prominence, outshining some of the most dominant players in the online ecosystem.

 

In particular, data acquired by Finbold indicates that between June 2023 and Aug. 2023, ChatGPT recorded an estimated average of 1.51 billion monthly website visits to its official website chat.openai.com. The figure places ChatGPT in the ninth position overall among the top ten selected major websites by visits. The AI platform is ahead of the streaming giant Netflix (NASDAQ: NFLX), which registered 1.49 billion trips during the same period.

 

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https://infogram.com/estimated-number-of-website-visitors-in-billions-1h7j4dvkloxl94n

 

Meanwhile, Google.com, the Alphabet (NASDAQ: GOOGL)-owned search engine, continues to dominate the digital arena with a staggering 85.41 billion visits. Following closely behind is YouTube, with 33.56 billion visits. Facebook, a product of Meta (NASDAQ: META), secures the third position overall with 17.2 billion visits, while Instagram occupies the fourth spot at 6.68 billion. X (formerly Twitter) holds steady with 6.48 billion visits. Notable entities also include e-commerce giant Amazon (NASDAQ: AMZN), which garnered 2.46 billion visits, securing the eighth position in the rankings.

Behind ChatGPT’s rise

ChatGPT’s website visits place the platform among the fastest-growing entities on the internet, considering it less than a year since its launch. Indeed, OpenAI launched the tool at a point when other established traditional players held back due to the uncertainty associated with interactive AI platforms, such as the potential harm it could cause, like spreading misinformation or hate speech.

What distinguishes ChatGPT and positions it for success against established traditional players is its remarkable ability to deliver personalized and diverse content recommendations, answer inquiries, provide comprehensive explanations, and even aid in creative endeavors such as writing, coding, and idea generation.

 

Its wide-reaching availability across many websites has transformed it into an indispensable companion for internet users in pursuit of instant and pertinent information. It has seamlessly woven itself into the very fabric of the digital world, making appearances on websites, chatbots, applications, and even customer service portals.

 

ChatGPT’s user-friendly design, which allows interactions as simple as typing a message, appeals to users of all ages and technical proficiencies. This intuitive interface has significantly contributed to the surge in website traffic.

 

Behind ChatGPT’s rapid rise is also a robust, continuous learning and improvement system. OpenAI’s substantial investments in refining the model, mitigating biases, and expanding its knowledge base ensure that ChatGPT remains current, precise, and dependable.

 

The underlying design of ChatGPT has placed it to surpass a platform such as Netflix. The streaming service, known for its vast library of movies and TV shows, has long been synonymous with online entertainment. While Netflix specializes in delivering scripted entertainment, ChatGPT appeals to a broader spectrum of users, from students seeking assistance with homework to professionals in need of quick information and inspiration. It’s this ubiquity and adaptability that have allowed ChatGPT to surpass Netflix in website visits.

Dealing with competition

As ChatGPT continues to evolve and expand its capabilities, we will likely witness a profound shift in how we interact with digital technology. The competition between AI models like ChatGPT and traditional content providers like Netflix may drive innovation in both sectors, benefiting consumers by providing more choices and tailored experiences. In this line, some traditional players in the digital space, such as Google, joined the race to incorporate AI into their system by launching the Bard platform. Indeed, such products are likely to expand the dominance of Google at the top of the digital landscape.

 

However, ChatGPT is countering this rising competition with consistent improvement. The improvement is highlighted by the recent upgrades that saw the platform introduce new features, such as removing the knowledge limit cut-off and the ability to browse the web. In the meantime, the industry will watch the planned AI tool that Tesla CEO Elon Musk developed to rival ChatGPT.

What the future holds

ChatGPT has ignited the race to incorporate AI; its impact is felt across various domains. Numerous companies strive to enhance AI’s capabilities by generating video music and developing detection tools to screen artificially generated content. Most individuals will probably encounter this emerging technology in the near future. The demand has been highlighted by a previous Finbold report that indicated that demand for AI spiked about 500% in 12 months as of August.

 

Overall, ChatGPT’s meteoric rise in website visitors is a testament to its transformative potential in AI. The success highlights our insatiable appetite for smart, accessible, and versatile AI solutions in an increasingly digital world.

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Expert advises creators and business founders on ‘Founder’s Exit Paradox’

The departure of founders from their business creations, termed the “Founder’s Exit Paradox,” is a complex phenomenon characterized by emotional involvement and detachment.

 

Despite existing research, a comprehensive understanding and guidance that encompass emotional, relational and existential dimensions are lacking.  As founders face the intricate interplay between emotional attachment and separation, they encounter challenges in employing effective coping strategies.

 

Furthermore, departing from not only their ventures, but also the people who contributed to their success, partnerships and collaborators, adds another layer of emotional complexity. Additionally, the transition brings forth questions about finding meaning and purpose in post-exit life

Business Exit Authority Jerome Myers, PE, MBA, PMP explores a holistic framework that addresses the emotional, psychological and practical aspects of the Founder’s Exit Paradox (self-image, relationships, work, health, prosperity and significance) in a way that empowers them to navigate the departure journey with resilience, transform personally and leave a lasting legacy.

To address the emotional complexities of departing from one’s creation, founders must first grasp the nuanced dynamics of the Founder’s Exit Paradox.

 

This understanding involves recognizing the interplay between emotional involvement and detachment, along with the amalgamation of behavioral, affective and cognitive processes. Jerome can extrapolate: 

  • Leveraging Coping Orientations
  • Integration of Positive Psychology Principles
  • Adoption of the Red Pill Model
  • Barrier Recognition and Dismantling
  • Promoting Awareness, Destigmatization, and Community Building
  • Fostering Personal Transformation and Legacy
  • Ongoing Self-Reflection and Adaptation

 

About the Expert

An award-winning engineer turned business strategist, Jerome uses his rich experience and innate understanding of human emotions to ensure that your journey from the corporate world to entrepreneurship is a fulfilling one.  At the helm of a division of a multibillion-dollar Fortune 550 company, Jerome created a thriving $20M operation with 175 dedicated team members. Now, he employs that expertise to advise leaders across diverse industries, from real estate to healthcare, guiding them to double their revenue, harmony in their work-life integration, and ramp up their charitable contributions.

His multifaceted experience also extends to the realm of real estate and academia. Jerome wears the hat of a general partner in a multifamily real estate portfolio and lends his strategic acumen to the North Carolina Agricultural and Technical State University Entrepreneurship Advisory Board, driving entrepreneurial progress.  But, Jerome’s efforts to guide newly-exited operators (NEOs) doesn’t stop there. As the host of the DreamCatchers podcast, he assists founders in addressing the six centers of doubt they will face following a significant life transition. Self-image, relationship, work, health, prosperity, and significance; none of these challenges are insurmountable when navigated with the right guidance and perspective.

Jerome’s transformative program, the NEO Navigator, maps out the eight key exits a founder might encounter, from leaving a corporate role and becoming a ‘Chief Everything Officer’ to finally transitioning into roles of thought leadership and board chairmanship. He provides strategic guidance for each stage, culminating in successful business exits and the creation of a diverse post-exit investment portfolio. The ultimate goal? To help founders contribute to the causes they hold dear and leave a lasting legacy.  Whether grappling with the early stages of leaving corporate America or strategizing post-exit portfolio building, Jerome’s insightful advice and empathic approach helps founders navigate each transition with grace and confidence.