Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Today's Sunday edition, a roundup of some of our top stories.
On the agenda today:
- An obituary for the metaverse, the latest fad to $4.
- Why are rents so expensive? Because people $4.
- Microsoft instructed managers to give fewer "exceptional rewards." We've got the $4.
- BlackRock is wrestling with who could succeed Larry Fink. Here's $4.
But first: I break down some of our most recent award-winning journalism below.
If this was forwarded to you, sign up here>$4. Download Insider's app here.>$4
Award-winning work
Insider won in seven categories at the New York Press Club Awards last week. Here's a recap of some of our award-winning journalism:
- Linette Lopez was recognized for her commentary $4. The Nasdaq finished 2022 down more than 20%.
- Andy Dunn won for his reporting on a gene therapy that's $4.
- Insider's video on the $4 won in the video category.
- In the spot-photography category, a searing portrait of a $4, was recognized.
- Annie Fu's infographic on $4 was awarded.
- Kelsey Vlamis won in the travel category for her story $4.
- Bradford William Davis won for his story revealing that Major League Baseball used at least $4.
RIP metaverse
After just three years, the metaverse has died — and ChatGPT killed it.
It was once the buzzy obsession of the tech world, Ed Zitron writes. But a lack of a coherent vision for the product put it on a downward trajectory. Then, when the next big $4 washed over the industry — generative artificial intelligence — the metaverse's fate was sealed.
Despite its short life and ignominious death, the metaverse offers us a glaring indictment of the industry that birthed it.
Read the metaverse's obituary>$4.
Sky-high rent
At the start of the COVID-19 pandemic, $4 as people fled crowded urban centers. But almost as quickly as they fell, prices began soaring again.
Residents are now asking the question: If so many people left, why is my rent still so expensive? New research has a startling answer: People got sick of living with each other.
Also read:
Who will succeed Larry Fink?
Wall Street has long been fascinated by succession stories. One of the most pressing is at the investment giant BlackRock.
CEO Larry Fink, now 70-years old, has the rare distinction of leading a Wall Street behemoth he helped found.
Insiders view a group of roughly seven executives as possible replacements, including a couple of under-the-radar candidates.
Inside BlackRock's succession saga>$4
Also read:
- ORG CHART: The 150 most powerful people under Larry Fink at BlackRock>$4
- Hedge fund carnage as the once lush index-rebalance strategy dries up>$4
Microsoft leak
An $4 from CEO Satya Nadella showed Microsoft planning to halt raises and cut its bonus and stock-awards budget.
In a separate leaked email, Microsoft's chief people officer, Kathleen Hogan, instructed managers to give fewer employees "exceptional rewards," adding that "more will need to be at the middle of the range."
Read Hogan's full email here>$4.
Plus, also check out:
This week's quote:
"It was an unmitigated disaster."
- A former CNN executive who was granted anonymity to speak openly about the network's $4.
More of this week's top reads:
- Google just showed how Big Tech will $4.
- Sixteen top healthcare bankers share predictions for the $4.
- How an ex-police officer made $12 million in three years after $4.
- Elon Musk is handing a truckload of mess to $4.
- Airbnb's Brian Chesky says many CEOs calling staffers back $4.
- "I left Miami for Pakistan — and my quality of life here is $4."
- So, Mark Zuckerberg is $4.
- How rich Americans give homes to their children and save big $4.
Curated by Matt Turner. Edited by Hallam Bullock and Lisa Ryan. Get in touch: insidertoday@insider.com