<ul class="summary-list"><li>If you can't stand it when people talk about <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>, you're not alone.</li><li>The "crypto bro" stereotype can turn people off from learning more about the technology.</li></ul>You know the guy. He wears a Moncler vest, is always on his phone, and has very strong opinions on which <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> you should buy. He also wants to tell you all about how much money he made off his latest <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> investment and how it all works. This persona, known as the "crypto bro," has proliferated over the past two years as <a href="https://www.businessinsider.com/millennials-gen-z-pandemic-investments-spending-toys-vintage-clothes-animals-2020-12">digital currencies' spike in value</a> tipped them from fringe investments to pop-culture touchstones. The crypto bro has become part of the cultural lexicon, earning a <a href="https://www.gq-magazine.co.uk/fashion/article/crypto-bro-style">GQ</a> profile and hashtags on <a href="https://twitter.com/search?q=%23cryptobro&amp;src=typed_query">Twitter</a> and <a href="https://www.tiktok.com/search?q=%23cryptobro&amp;t=1652208148132">TikTok</a>. The stereotype is the result of crypto's arrival as The Next Big Thing. This year's Super Bowl ads led some to dub it <a href="https://www.nytimes.com/2022/02/11/business/media/super-bowl-commercials.html">the Crypto Bowl</a>. Alumni of NBC's The Bachelor are <a href="https://www.vox.com/the-goods/22905083/the-bachelor-crypto-nft-colton-matt-james">diving into NFT influencing</a>. The mayors of both Miami and New York are <a href="https://www.bloomberg.com/news/articles/2021-12-03/miami-mayor-seeks-wider-crypto-use-after-taking-pay-in-bitcoin">trying to rebrand their cities</a> as crypto hubs — New York's Eric Adams is even taking<a href="https://www.nytimes.com/2022/01/20/nyregion/eric-adams-bitcoin-cryptocurrency.html"> his first three paychecks</a> in crypto. Last month, people like Bill Clinton and Tom Brady <a href="https://www.cryptobahamas.com/">gathered in the Bahamas</a> to talk about "Web 3.0," a collection of online services powered by blockchain technology dubbed the "<a href="https://www.vox.com/recode/22907072/web3-crypto-nft-bitcoin-metaverse">next phase</a>" of the internet.The hype has left some gasping for air. <a href="https://www.vox.com/the-goods/22922511/crypto-nfts-sports-betting-money-hobby">Vox's Rebecca Jennings</a> described a Gary Vaynerchuk-hosted talk dedicated to NFTs as "the most unpleasant event I've ever attended." There's a whole <a href="https://www.reddit.com/r/unpopularopinion/comments/npfnsc/crypto_investors_are_the_most_annoying_people_i/">Reddit thread</a> dedicated to why crypto investors "are the most annoying." And, as one person <a href="https://twitter.com/Shakarez/status/1519462240281321472">recently tweeted</a>, "God, I hate crypto so much." Sasha Mutchnik, a 25-year-old who posts memes about subcultures on the popular Instagram account <a href="https://www.instagram.com/starterpacksofnyc/">@starterpacksofNYC</a>, likened the "crypto bro" to New York City "finance guys" — think the much-maligned <a href="https://www.instagram.com/midtownuniform/?hl=en">Chad and Brad in their Patagonia vests. They're also part "tech bro," the </a>hoodie-and-sneakers persona <a href="https://www.washingtonpost.com/entertainment/tv/silicon-valley-is-done-but-the-important-work-of-mocking-tech-culture-must-carry-on/2019/12/08/6cc2914e-1842-11ea-9110-3b34ce1d92b1_story.html">mocked in HBO's Silicon Valley</a>."Entitled by a combination of money and hype," Mutchnik told me, the crypto guy is "so drunk on the success of this thing that no one (aside from him and his fellow bros who got in early) really understands that it's all he wants to talk about." Mutchnik thinks that's a shame, considering the many companies working to make crypto platforms and tech feel relevant and useful to daily life."The tech itself, and the majority of those working with it, isn't douchey or gross or unappealing," she said. "Gatekeeping it with annoying language and endless merch and ambiguous minimalist logos, however, kind of is."But there's something deeper than annoyance in popular disdain for crypto. It's a foreign concept to many, with confusing technical jargon and an ethos of a Matrix-like future where even more of our lives are online — at a time when many people crave IRL interactions after two years of a pandemic. When we're faced with such unfamiliarity, we retreat, and even push back if it's shoved in our faces. <h2>Crypto is like a weight-loss drug</h2>Celebrities of all stripes, from Matt Damon and Gen Z influencer Charlie D'Amelio to <a href="https://www.cnbc.com/2022/04/13/justin-bieber-gwyneth-paltrow-invest-in-crypto-startup-moonpay.html">Gwyneth Paltrow</a> and <a href="https://news.bitcoin.com/pop-star-justin-bieber-buys-bored-ape-nft-for-1-29-million-pays-more-than-300-above-floor/">Justin Bieber</a>, have started partnering with brands like <a href="https://www.youtube.com/watch?v=9hBC5TVdYT8&amp;feature=emb_imp_woyt">Crypto.com</a> or the <a href="https://www.insider.com/charli-damelio-mrbeast-jake-paul-influencers-endorse-crypto-market-2021-5">crypto app</a> Gemini to promote the emerging currency. Reese Witherspoon <a href="https://twitter.com/ReeseW/status/1480953798013054976?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1480953798013054976%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.huffpost.com%2Fentry%2Freese-witherspoon-parallel-digital-identity-tweet_n_61ddec33e4b04b42ab865100">tweeted</a> in January, "In the (near) future, every person will have a parallel digital identity. Avatars, crypto wallets, digital goods will be the norm. Are you planning for this?"Jonah Berger, a Wharton marketing professor, explains why this aggressive pitch may not sit well with everyone. "People feel like they're being pitched," Berger told me. "In some ways, it feels a little bit like a weight-loss drug, which also makes it feel a little bit like a scam. Why are so many people trying so hard? It might be because it's not really real."It's a red flag after the celebrity-endorsed scams of recent years like Fyre Fest, Theranos, and the Anna Delvey foundation. Plus, the crypto world has seen some major losses and scams of its own: The developers of one popular NFT game <a href="https://markets.businessinsider.com/news/currencies/axie-infinity-builder-takes-full-responsibility-for-625m-ronin-hack-exec-says-1031343557">lost $600 million</a> in user investments due to a security lapse, and a "squid game" coin spiked in value amid the popularity of a Netflix show of the same name, <a href="https://markets.businessinsider.com/news/currencies/the-squid-game-token-scam-website-socials-offline-coingecko-crypto-2021-11">before disappearing</a> from the internet.It doesn't help that Kim Kardashian and Floyd Mayweather are both <a href="https://www.reuters.com/world/us/kim-kardashian-floyd-mayweather-sued-over-promotion-crypto-token-2022-01-12/">facing a lawsuit</a> alleging that their crypto promotions were intended to boost the price of their own tokens in order to make money "at the expense of their followers and investors," according to plaintiffs.We're even more skeptical when something we deem suspicious seems to pop up everywhere. Berger has spent a decade researching consumer behavior. In his most recent book, "<a href="https://jonahberger.com/books/the-catalyst/">The Catalyst: How to Change Anyone's Mind</a>," he explores how people push back when they're feeling pushed, a concept known as "reactance." We feel it when we ignore spam in our inbox, a piece of junk mail, or an annoying TV ad. It's also partly why some people are so resistant to crypto, when we see it being touted everywhere from Witherspoon's Twitter to "The Tonight Show," where Jimmy Fallon and Paris Hilton <a href="https://www.youtube.com/watch?v=5zi12wrh5So">compared their NFT purchases</a>."People don't like being sold on something," Berger said. "When they feel like someone's trying to persuade them, their anti-persuasion radar goes off."<h2>Crypto scares us</h2>Talk of <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> and ether sets off another kind of alarm: fear of the unknown. Most Americans have known the basics of how money works from a young age. Paper bills and coins are tangible and easy to see being exchanged for goods. The concept of a digital currency can be harder to grasp, and it's intimidating, as if you need to be tech-savvy to understand it, 19-year-old cryptocurrency influencer <a href="https://missteencrypto.com/">Miss Teen Crypto</a> told me."In reality we use tech everyday that we don't really understand, such as using a debit card — we don't know the technicalities behind the transaction but we know that it works," she said. "This will be the same with cryptocurrency sooner rather than later." Not everyone agrees, and it has nothing to do with the crypto bro. Cryptomarkets themselves have been in turmoil recently, with the <a href="https://markets.businessinsider.com/currencies/btc-usd">price of bitcoin more than 50% down from its late-2021 high</a>. "As an emerging asset class, the relatively high level of volatility can give pause to some," David Lawant, director of research at <a href="https://bitwiseinvestments.com/">BitWise Asset Management, </a>told me. Plus, a <a href="https://www.newyorker.com/business/currency/the-challenges-of-regulating-cryptocurrency">lack of regulation</a>, <a href="https://www.washingtonpost.com/business/energy/why-bitcoins-environmental-problems-are-so-hard-to-fix/2022/03/16/b71e1d22-a4df-11ec-8628-3da4fa8f8714_story.html">environmental concerns</a> over the amount of electricity required, and disagreements on <a href="https://blog.dol.gov/2022/03/10/cryptocurrency-concerns-why-were-working-to-protect-retirement-savings-from-volatile-digital-investments">how to value digital currencies</a>, have sparked legitimate concerns over the future of crypto as a worthy financial tool. Warren Buffet <a href="https://www.cnbc.com/2022/05/02/warren-buffett-wouldnt-spend-25-on-all-of-the-bitcoin-in-the-world.html">has even said</a> he wouldn't buy "all of the bitcoin in the world" for $25.Regardless of the reasons for it, in timidation begets fear. As Carla Marie Manly, a psychologist and author of the book "<a href="https://drcarlamanly.com/books/">Joy From Fear</a>," explained to me, it's an evolutionary response from our caveman days, when humans learned to be wary, favoring situations that feel familiar and safe. Most have a low tolerance for risk, particularly in regards to their health, safety, or finances, she said."Those who find crypto culture entirely foreign will likely tend to feel overwhelmed and intimidated," she said.After all, some of us may feel closer to our caveman days than to a world in which NFTs, dogecoin, and Coinbase reign supreme. The names and opacity of their meanings signal a shift toward a more futuristic society."Consciously and unconsciously, they would feel apprehensive about what the future change would bring," Manly said. <h2>Blame the crypto bro</h2>On the other hand, according to Manly, there's another category of people who get a thrill from the knowledge they have about crypto, especially if they are in a minority. "Those who understand this realm will likely feel highly comfortable and largely unintimidated; their sense of competency will often override any feelings of intimidation and insecurity," she said.This group, as Lawant said, have "created their own shared stories, narratives, memes, and other social norms." That can feel alienating or even threatening to some who don't share their values, he added.That's in line with Berger's research, which found that social influence can lead us to either do the same — or the opposite — of others, depending on how we view their identity relative to our own. "People like doing things that people like them are doing, and they tend to avoid doing things that other people who are not like them are doing," he said.Part of this involves deliberately shunning a popular trend because certain people like it to demonstrate that you're against it. "Some of the folks that are doing crypto have a particular identity that other people might not necessarily want to associate themselves with," Berger said.He says that those people might think, "This is not a 'me' thing. Even though it has status for some people, this is not it for me."That's because <keyword id="11896289" type="UNKNOWN" weightage="60" keywordseo="investing" source="Orion">investing</keyword> in — and talking about — crypto suggests you are a certain type of person."This is a different strain of dude than the Silicon Valley tech bro," Mutchnik, the @starterpacksofNYC founder, said. "This guy is probably not wearing AllBirds or a Patagonia vest. He might be wearing a Moncler vest, or some exorbitantly expensive sneakers. There's a sort of need (or at least desire) to be perceived as trendy or plugged-in among these guys."But the crypto dude is a stereotype, just like any other. As Mutchnik points out, not all crypto enthusiasts are guys — there's a <a href="https://www.wsj.com/articles/reese-witherspoon-and-gwyneth-paltrow-push-for-crypto-sisterhood-11647017051">push for crypto sisterhood</a>. Nor do all crypto enthusiasts endlessly talk about bitcoin, with many trying to make crypto more accessible to people outside the stereotypical "crypto bro" crowd." <a href="https://boysclub.vip/">Boys Club</a>, cofounded by 37-year-old Deana Burke and 29-year-old Natasha Hoskins, is meant to welcome women and nonbinary people into the crypto space. Another group, <a href="https://womeninnfts.squarespace.com/">Women in NFTs</a>, as the name implies, also wants to open up crypto to women.But the fact that the stereotype exists is enough to put people off. As Mutchnik said, "Crypto isn't all bad, it's just been marketed badly."

Why crypto is so annoying

<img src="https://static-ssl.businessinsider.com/image/590348d72f6ae4080e8b4eb4-1080/1580074115240586276240128256928789151431628o.jpg" alt="fyre festival" /><a href="https://www.facebook.com/fyrefestival/photos/a.1498916190138256.1073741828.1474168822612993/1524058627624012/?type=3&amp;theater">Facebook.com/fyrefestival</a>Not quite as organized.Fyre Festival, a luxury music festival set to take place on Great Exuma in the Bahamas this weekend, <a href="http://www.businessinsider.com/luxury-fyre-festival-on-a-private-beach-in-the-bahamas-has-descended-into-chaos-and-now-people-cant-leave-2017-4">has reportedly descended</a> into chaos. Attendees have taken to Twitter to complain of disorganization, headliners backing out, and inadequate housing in a "tent city." Thousands of guests who paid between $1,000 and $12,000 for weekend passes are stranded in the Bahamas as organizers arrange flights back to Miami. The festival was put on by Ja Rule and tech entrepreneur Billy McFarland, who launched entertainment startup <a href="http://fyreapp.com/">Fyre Media</a> together in 2015. McFarland previously founded <a href="https://magnises.com/">Magnises</a>, a social networking startup that charges members a $250 annual fee for access to exclusive events. After speaking to several current and former Magnises members in February, Business Insider <a href="http://www.businessinsider.com/magnises-complaints-from-members-2017-1">revealed</a> that the startup had not been delivering on the perks it was advertising. Members recounted similar stories of not receiving tickets on the timeline promised, of having to rearrange plans multiple times because of the startup's scheduling snafus, and of trips being canceled outright - sometimes the day before they were scheduled to take place. Several of the members said they received unwanted charges to their credit cards from Magnises, which in some cases took more than a month to refund their money.Since its inception in 2014, the New York-based startup has expanded to Washington, DC, and San Francisco. It now has nearly 40,000 members. The startup has raised $3.1 million in venture capital since its founding, and it has been cash-flow positive for the past year. It has 25 employees.McFarland did not immediately return Business Insider's request for comment about the Fyre Festival snafu. <blockquote class="twitter-tweet" lang="en">A view of the luxury food court with some luxury school bus transportation at Fyre Festival. <a href="https://twitter.com/hashtag/fyre?src=hash">#fyre</a> <a href="https://twitter.com/hashtag/fyrefestival?src=hash">#fyrefestival</a> <a href="https://t.co/XL3PtRw8q0">pic.twitter.com/XL3PtRw8q0</a>- William N. Finley IV (@WNFIV) <a href="https://twitter.com/mims/statuses/857785626829127685">April 28, 2017</a></blockquote><blockquote class="twitter-tweet" lang="en">The dinner that <a href="https://twitter.com/fyrefestival">@fyrefestival</a> promised us was catered by Steven Starr is literally bread, cheese, and salad with dressing. <a href="https://twitter.com/hashtag/fyrefestival?src=hash">#fyrefestival</a> <a href="https://t.co/I8d0UlSNbd">pic.twitter.com/I8d0UlSNbd</a>- Tr3vor (@trev4president) <a href="https://twitter.com/mims/statuses/857776562615308288">April 28, 2017</a></blockquote><blockquote class="twitter-tweet" lang="en">This is how Fyre Fest handles luggage. Just drop it out of a shipping container. At night. With no lights. <a href="https://twitter.com/hashtag/fyrefestival?src=hash">#fyrefestival</a> <a href="https://t.co/X5CdZRyJWo">pic.twitter.com/X5CdZRyJWo</a>- William N. Finley IV (@WNFIV) <a href="https://twitter.com/mims/statuses/857760324199612416">April 28, 2017</a></blockquote> <h3>NOW WATCH: <a href="http://www.businessinsider.com/steve-wozniak-favorite-story-steve-jobs-bob-dylan-2017-4">Steve Wozniak tells us one of his favorite stories about Steve Jobs</a></h3> Please enable Javascript to watch this video

The founder of a private club for elite millennials is behind a supermodel-backed music festival that has descended into chaos

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5d7895902e22af24dd254823-2400/iphone 11 pro and max.jpg" border="0" alt="iPhone 11 Pro and Max" data-mce-source="Lisa Eadicicco/Business Insider" />Lisa Eadicicco/Business InsiderThe iPhone 11 Pro and the iPhone 11 Pro Max.</div></div></div>Good morning! This is the tech news you need to know this Wednesday.<ol><li><a href="https://www.businessinsider.com/apple-iphone-11-pro-max-specs-features-price-release-date-2019-9?r=US&amp;IR=T">Apple announced three new iPhones at its event on Tuesday: the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max</a>. The new iPhones retain their same prices as last year's designs, but Apple made some significant improvements to each of its top-of-the-line phones.</li><li><a href="https://www.businessinsider.com/apple-watch-series-5-new-features-titanium-ceramic-2019-9?r=US&amp;IR=T">Apple also unveiled the Apple Watch Series 5, which comes in new titanium and ceramic casings and has an always-on display</a>. Like the name suggests, the always-on display allows you to view information at a glance without moving your wrist to turn the screen on.</li><li><a href="https://www.businessinsider.com/apple-tv-plus-streaming-service-price-launch-date-2019-9?r=US&amp;IR=T">Tim Cook announced that Apple's streaming service Apple TV Plus will launch November 1 and cost just $5 a month</a>. The $5 pricepoint ranks Apple TV Plus among the cheapest of streaming services out there, although Apple's service won't include any licensed content beyond its original content. </li><li><a href="https://www.businessinsider.com/uber-fires-435-engineering-and-product-employees-2019-9?r=US&amp;IR=T">Uber fired more than 400 product and engineering employees in its second major round of layoffs this year</a>. In a statement, Uber said the move was about staying nimble as a 27,000-person, global company.</li><li><a href="https://www.businessinsider.com/jeffrey-epstein-dinner-bezos-elon-musk-bill-gates-report-2011-2019-9?r=US&amp;IR=T">Jeff Bezos, Elon Musk, Sergey Brin, and Marissa Mayer reportedly attended an elite private dinner with Jeffrey Epstein just two years after he served a prison sentence for soliciting sex from a 14-year-old girl</a>. The elite dinner party known informally as the "billionaires' dinner" was held in 2011 during the TED Conference in Long Beach, California.</li><li><a href="https://www.businessinsider.com/california-bill-to-treat-contract-workers-as-employees-2019-9?r=US&amp;IR=T">California approved a landmark bill to reclassify contractors for companies like Uber and Lyft as employees</a>. The Assembly Bill 5 passed in a 29 to 11 vote in the State Senate and now heads to the State Assembly for passage.</li><li><a href="https://www.businessinsider.com/peloton-to-raise-as-much-as-12-billion-in-ipo-shares-priced-26-to-29-2019-9?r=US&amp;IR=T">Peloton plans to raise as much as $1.3 billion in an IPO that would double its valuation to $8 billion</a>. The maker of internet connected fitness equipment said it intends to sell 40 million Class A shares in the offering.</li><li><a href="https://www.businessinsider.com/we-work-ipo-proceeding-report-2019-9?r=US&amp;IR=T">WeWork may soldier on with its IPO despite reports that it's slashing its valuation by more than half</a>. WeWork could begin its IPO roadshow as soon as Monday, September 16, based on <a href="https://www.cnbc.com/2019/09/10/david-faber-wework-ipo-full-speed-ahead-roadshow-to-kick-off-monday.html">a report from CNBC</a>.</li><li><a href="https://www.businessinsider.com/area-51-storming-facebook-event-alienstock-fyre-festival-2019-9?r=US&amp;IR=T">A party planned for the millions of Facebook users signed up to storm Area 51 is raising concerns it could become "Fyre Fest 2.0."</a> Organizers of the Facebook event turned it into a music festival called Alienstock, and thousands of people are expected to flood the town near Area 51 later this month.</li><li><a href="https://www.businessinsider.com/elon-musk-says-he-wants-to-buy-the-onion-2019-9?r=US&amp;IR=T">Elon Musk said he wants to buy The Onion after his satirical startup shut down earlier this year</a>. The Daily Beast reported in 2018 that Musk considered buying The Onion in 2014 and hired several former staff members for a satirical startup, Thud, that folded in May after Musk stopped funding it. </li></ol>Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.You can also <a href="https://newsletter.businessinsider.com/join/free">subscribe to this newsletter</a> here - just tick "10 Things in Tech You Need to Know." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/pavlok-electric-shock-bracelet-wearable-quit-biting-nails-bad-habit-2019-8">This electric-shock bracelet helped me quit biting my nails</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/BLjjysMZ-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

10 things in tech you need to know today

Hello!Welcome to this weekly roundup of stories from Insider's Business co-Editor in Chief Matt Turner. <a href="http://newsletter.businessinsider.com/join/4np/insider-weekly">Subscribe here to get this newsletter in your inbox every Sunday.</a>What we're going over today:<ul><li>"Digital nomads" are <a href="https://www.businessinsider.com/partying-yachts-drugs-remote-work-destroying-worlds-most-instagrammable-destinations-2021-7">destroying tropical paradises.</a> </li><li>3G's merger of Kraft and Heinz is <a href="https://www.businessinsider.com/kraft-heinz-employees-3g-cost-cutting-food-2021-7">killing morale and choking innovation.</a> </li><li>Amazon's Prime Air drone-delivery team <a href="https://www.businessinsider.com/amazon-prime-air-drone-delivery-teams-march-all-hands-meeting-2021-7">is in upheaval. </a></li><li>Black women in money management on <a href="https://www.businessinsider.com/black-women-in-asset-management-share-their-stories-2021-7">finding their voice on Wall Street.</a></li></ul><a href="https://www.businessinsider.com/partying-yachts-drugs-remote-work-destroying-worlds-most-instagrammable-destinations-2021-7"></a>What's trending this morning:<ul><li>Young, wealthy people are in the middle of a revelation - why live in a dense, cold metropolis <a href="https://www.businessinsider.com/moving-to-arizona-luxury-real-estate-phoenix-scottsdale-paradise-valley-2021-7">when you can feel like you're on vacation year round?</a></li><li>Ex-Kamala Harris staffers have bad memories of a toxic culture in her past offices. They describe a boss who <a href="https://www.businessinsider.com/kamala-harris-staffers-toxic-office-culture-dysfunction-2021-7">hung up on staffers, demeaned them, and made aides cry.</a></li><li>How Moderna plans to top it's own coronavirus vaccine - Insider got an exclusive tour of the biotech company's labs, and <a href="https://www.businessinsider.com/inside-moderna-labs-covid-19-and-future-mrna-research-2021-7" target="_blank" rel="noopener">they shared what comes next after a banner year in biotech.</a></li><li>Europe's richest billionaire may have a new 29-year-old heir. But before he can inherit the world's grandest luxury empire, <a href="https://www.businessinsider.com/alexandre-arnault-profile-tiffany-rimowa-lvmh-2021-7" target="_blank" rel="noopener">he must revamp Tiffany back into a global powerhouse</a>.</li><li>For influencers, Instagram can pay dividends. One lifestyle influencer has already booked over $700,000 in brand deals so far in 2021 - <a href="https://www.businessinsider.com/how-instagram-lifestyle-influencer-earned-700-thousand-dollars-details-2021-7" target="_blank" rel="noopener">and she's only getting started.</a></li></ul><hr /><h3><a href="https://www.businessinsider.com/partying-yachts-drugs-remote-work-destroying-worlds-most-instagrammable-destinations-2021-7">It's a remote worker invasion</a></h3>Dubbing themselves "digital nomads," expats are moving to some of the world's most remote places, where they can live and work in paradise. But many don't stick around long enough to reckon with <a href="https://www.businessinsider.com/partying-yachts-drugs-remote-work-destroying-worlds-most-instagrammable-destinations-2021-7">the long-term effects of their lifestyle</a>:Many places, desperate to revive their COVID-ravaged economies, have gone to extraordinary lengths to welcome the nomads. Countries from Barbados and Aruba to Estonia and Georgia are offering special work visas that permit foreigners to stay for as long as six months, often with an option to renew. Tulum, according to Lonely Planet, is the "hotspot for digital nomads." But as more and more foreigners settle in for a year-round Burning Man, Tulum is starting to look more like the next Fyre Fest. The troubles already plaguing the town - shoddy electricity, a crappy sewer system, polluted waters - are exacerbated by the flocks of Bluetoothed boobies. Unlike the hordes of tourists who come and go for a few days, nomads create a permanent strain on local infrastructure. They enjoy all the benefits of life in the tropics, but they don't pay taxes. Read more about the impact of digital nomads:<ul><li><a href="https://www.businessinsider.com/partying-yachts-drugs-remote-work-destroying-worlds-most-instagrammable-destinations-2021-7">Invasion of the remote workers! How 'digital nomads' are ruining tropical paradises</a></li></ul>Also read:<ul><li><a href="https://www.businessinsider.com/work-3-jobs-left-home-austin-live-van-travel-2021-7">I make more than $300,000 a year working 3 jobs. I gave up my home in Austin to live in a van and travel the country - here's what it's like.</a></li><li><a href="https://www.businessinsider.com/real-estate-investing-best-vacation-towns-for-rentals-returns-profits-2021-7">The 10 best places to buy a vacation home to rent out - and make bank off the post-pandemic travel boom</a> </li></ul><hr /><h3><a href="https://www.businessinsider.com/kraft-heinz-employees-3g-cost-cutting-food-2021-7">Kraft Heinz's merger is causing burnout and choking innovation</a></h3><a href="https://www.businessinsider.com/kraft-heinz-employees-3g-cost-cutting-food-2021-7"><div type="image" title="Kraft Heinz logo on a black background, fading to black with cracks leading into food products from Heinz and Kraft brands." height="1124" width="1499" msid="84523416" hostid="261"></div></a>Under the private-equity firm 3G Capital and Berkshire Hathaway, <a href="https://www.businessinsider.com/kraft-heinz-employees-3g-cost-cutting-food-2021-7">Kraft Heinz was supposed to be a powerhouse in the food world</a> - but so far, it hasn't gone as planned:Current and former employees said 3G-approved executives and a maniacal focus on cutting costs have hobbled the two historic brands. Many are leaving and fear for the company's future, especially as a sales boost from eating at home fades post-pandemic. While other food companies, such as General Mills and Kellogg, risk a similar slowdown as society opens up, Kraft Heinz is in a more dire place, analysts said. Insiders said that 3G's cost-cutting has left the company unable to introduce new products, such as plant-based meat. They also said the deep cuts have caused morale to plummet and turnover to soar.Here's what else employees said about the merger:<ul><li><a href="https://www.businessinsider.com/kraft-heinz-employees-3g-cost-cutting-food-2021-7">3G's merger of Kraft and Heinz is killing morale, causing burnout, and choking innovation, some employees say. Now, the company could get left behind as the economy reopens.</a></li></ul>Also read:<ul><li><a href="https://www.businessinsider.com/startups-raising-millions-to-compete-with-shopify-2021-7">These 5 startups have collectively raised nearly $300 million to compete with Shopify</a></li><li><a href="https://www.businessinsider.com/lululemon-will-shutter-whitespace-innovation-team-leader-to-resign-2021-7">Lululemon CEO says in leaked email the company will no longer use 'Whitespace' name for its innovation wing after backlash from employees</a> </li></ul><hr /><h3><a href="https://www.businessinsider.com/amazon-prime-air-drone-delivery-teams-march-all-hands-meeting-2021-7">One of Amazon's loftiest projects is in crisis</a></h3><a href="https://www.businessinsider.com/amazon-prime-air-drone-delivery-teams-march-all-hands-meeting-2021-7"><div type="image" title="Jeff Wilke, CEO of Amazon's consumer business, announces the company's Prime Air drone at its re:MARS conference in Las Vegas on June 5, 2019." height="2000" width="2666" msid="84523418" hostid="261"></div></a>The goal is to <a href="https://www.businessinsider.com/amazon-prime-air-drone-delivery-teams-march-all-hands-meeting-2021-7">deliver packages to customers' doorsteps using fully electric drones.</a> The problem is that Amazon's Prime Air team is seeing internal conflict, high turnover, and launch delays that threaten the project's success:The tensions came to a head at an all-hands meeting in March, where Prime Air's leadership answered questions that employees submitted and voted on. Questions zeroed in on these contentious issues, including those between longtime employees and new hires, who the former accuse of moving too slowly. They also brought up the division's high turnover rate, which was 20% in 2020.The question that received the most upvotes pointed to a cultural clash between the new executives and existing company structure, according to a transcript of the meeting obtained by Insider."One peer remarked that in the last year all four of the individuals in his leadership chain have been replaced by Boeing expats," the inquiry said, referring to the multiple executives who joined Amazon from Boeing in the past year. "What are we doing to preserve Amazon's unique culture and principles within Prime Air while building out our org with established industry leaders?"More on Amazon Prime Air's barriers to success:<ul><li><a href="https://www.businessinsider.com/amazon-prime-air-drone-delivery-teams-march-all-hands-meeting-2021-7">Amazon's Prime Air drone-delivery team is in upheaval as launch delays, 'expat' execs, and a 20% turnover rate roil one of Amazon's loftiest projects</a></li></ul>Also read:<ul><li><a href="https://www.businessinsider.com/vc-recruiters-you-need-to-know-2020-10">Tech startups can't hire fast enough. Here are 25 important people to know if you want to land one of those jobs.</a></li><li><a href="https://www.businessinsider.com/google-kelsey-hightower-self-taught-developer-kubernetes-cloud-computing-2021-7">Google's star cloud guru Kelsey Hightower explains how to succeed in tech as a self-taught developer</a> </li></ul><hr /><h3><a href="https://www.businessinsider.com/black-women-in-asset-management-share-their-stories-2021-7">Black women discuss finding their voice on Wall Street</a></h3><a href="https://www.businessinsider.com/black-women-in-asset-management-share-their-stories-2021-7"><div type="image" title="From left: Kim Lew, president and CEO of the Columbia Investment Management Company, Dekia Scott, CIO of Southern Company, Tina Byles Williams, CEO CIO and Founder of Xponance, and Michaela Edwards, partner and portfolio manager at Capricorn Investment Group with magenta circles and a faded white grid behind them on a purple background" height="1800" width="2400" msid="84523420" hostid="261"></div></a>We spoke with eight Black women in high-powered asset-management roles, who talked openly about <a href="https://www.businessinsider.com/black-women-in-asset-management-share-their-stories-2021-7">microaggressions, mentors, and diversity on Wall Street</a>:"It's a male-dominated industry and what some would call a good ol' boys' club," said Dekia Scott, the chief investment officer of the Atlanta-based energy company Southern Company, when asked whether the industry understands why it has a diversity and equity problem. "With evolution and more women going into the investment field, those numbers have begun to change. But the whys of how we got here, I think everyone knows it. "Are we prepared to change it? I think it depends on who you talk to. I view this issue as turning a 757 aircraft in slow-course fashion versus just hooking a right in a Dodge minivan. It's a tremendously large industry. It's not going to make huge strides in a year or two or three. But we should make meaningful change."Read more of their stories:<ul><li><a href="https://www.businessinsider.com/black-women-in-asset-management-share-their-stories-2021-7">8 of the most powerful Black women in money management on microaggressions, mentors, and finding their voice on Wall Street</a></li></ul>Also read:<ul><li><a href="https://www.businessinsider.com/svb-leerink-hiring-investment-banking-compensation-md-tmt-healthcare-guarantees-2021-7">How SVB Leerink is luring top bankers with juicy pay and a big opportunity to build a new dealmaking powerhouse</a></li><li><a href="https://www.businessinsider.com/morgan-stanley-return-to-office-dates-investment-bank-analysts-associates-2021-7">Morgan Stanley's CEO wants employees back to the office by Labor Day, but the bank just told its newest crop of juniors they can head in as early as this month</a> </li></ul><hr />Finally, here are some headlines you might have missed last week.- Matt<ul><li><a href="https://www.businessinsider.com/how-to-be-happier-at-a-job-you-dont-like-2021-7">A few small changes can make you happier at a job you don't like, experts say</a></li><li><a href="https://www.businessinsider.com/bbw-pearadise-body-postive-tiktok-stefan-wilhelmy-sue-women-defamation-2021-7">A 'body positive' TikToker who runs a group for 'big beautiful women' sued 5 of them after they spoke out</a></li><li><a href="https://www.businessinsider.com/snapchat-us-salaries-revealed-for-software-engineer-vp-more-jobs-2021-7">Snapchat salaries revealed: How much Snap pays for jobs in product, marketing, engineering, and more</a></li><li><a href="https://www.businessinsider.com/subway-million-dollar-sandwich-giveaway-was-a-flop-insiders-say-2021-7">Subway tried to give away 1 million sandwiches to promote its new menu. Franchisees say almost nobody wanted them.</a></li><li><a href="https://www.businessinsider.com/mckinsey-hybrid-work-messier-than-anyone-realizes-2021-7">McKinsey: Hybrid work will be messier than anyone realizes</a></li></ul>

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