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Sunday, March 22, 2020

Business News, Updates

Business News, Updates

THE EVOLUTION OF THE US NEOBANK MARKET: Why the US digital-only banking space may finally be poised for the spotlight (GS, JPM)

Posted: 22 Mar 2020 09:33 AM PDT

NeoBank Infographics 3x4Business Insider Intelligence

What is a neobank? Total Funding for Major European and US NeobanksBusiness Insider Intelligence

Neobanks, digital-only banks that aren't saddled by traditional banking technology and costly networks of physical branches, have been working to redefine retail banking in major markets around the world.

Top neobanks in the US & EU

The top neobanks in the US and EU include:

See the rest of the story at Business Insider

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SEE ALSO: Latest fintech industry trends, technologies and research from our ecosystem report

A Florida mayor was slammed for shutting off 'people's lights in the middle of a global health pandemic' while their 'finances are unstable'

Posted: 22 Mar 2020 09:31 AM PDT


Omari HardyLake Worth Beach, Florida

  • A heated exchange between members of a Florida city council went viral after an impassioned councilmember argued with the city's mayor and manager over their handling of the COVID-19 pandemic. 
  • The council had earlier in the month rejected his request for an emergency meeting to discuss utility shut-offs, and the city manager told him to "calm down." 
  • The councilman accused the Lake Worth Beach, Florida, mayor of operating a "banana republic" for allowing the city manager to take control of the city without a state of emergency declaration. 
  • "It was not about me," Hardy said after the exchange went viral. "It was about the people in our city who are struggling, whose futures are uncertain, whose finances are unstable, who may be wondering if they will be able to work and earn a paycheck during this pandemic
  • Visit Business Insider's homepage for more stories.

A heated exchange between a member of the Lake Worth Beach, Florida, city council and city Mayor Pam Triolo went viral after the councilmember accused the mayor of operating a "banana republic" in response to her handling of the coronavirus pandemic.

See the rest of the story at Business Insider

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The difference between self-isolating in my tiny NYC apartment and holing up in my family's home in Austin taught me how crucial physical space is when working from home

Posted: 22 Mar 2020 09:19 AM PDT

NYC vs Austin work from home setupJoey Hadden/Business Insider

  • The company I work for recently went fully remote in light of the coronavirus pandemic.
  • I worked in my tiny apartment in NYC for one week before traveling to my family's house in Austin to wait out the pandemic.
  • It wasn't until I got to Austin, though, that I realized how important it is to have a lot of physical space when working from home.
  • Since moving my home office to my family's house in Austin, I've found it easier and more pleasant to work from home, and this is primarily because I have so much more space.
  • Working from home in two different cities and living spaces during the coronavirus pandemic taught me the significance of physical space, even when all you need to do your job is a laptop and a camera.
  • Visit Business Insider's homepage for more stories.

I started working from home inside my apartment in Brooklyn's Bed-Stuy neighborhood, where I share a bathroom, kitchen, and living room with two roommates.

Joey Hadden/Business Insider

At the beginning of the week, I was the only roommate working from home, so I took control of our little kitchen table from 9:30 a.m. to 5:30 p.m. each day with no conflicts ...

Joey Hadden/Business Insider

... but by the end of the week, all three of us were working from home due to the spread of the coronavirus in New York, so I moved my office to my bedroom.

Joey Hadden/Business Insider

See the rest of the story at Business Insider

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Posted: 22 Mar 2020 09:01 AM PDT

15 bourbons that should be on your radar, according to 3 bourbon experts

Posted: 22 Mar 2020 09:00 AM PDT

Marianne Eaves, bourbon expertMarianne Eaves

  • When it comes to today's most innovative whiskey distilleries, US bourbon producers are leading the pack.
  • From its origins in Kentucky, bourbon production has expanded to other states, where the drink can range in flavor profiles from honeysuckle and mint to toffee and warm oak.
  • Price tags for the bourbons vary greatly, with some originally available for anywhere from $35 to $700, and others reaching offers upwards of $14,000 on the secondary market (if you can find them).
  • Visit Business Insider's homepage for more stories.

Many people know the phrase, "All bourbons are whiskey, but not all whiskeys are bourbon." But what does that mean, exactly?

There are few requirements for a liquor to be called bourbon. It has to be made in the US (not necessarily Kentucky, although that's where the drink originated), with a grain mash that contains 51% or more corn, and aged in an American white-oak cask that's been "charred," as in the inside of the barrel has been torched, leaving a dark layer of charred wood. The cask can be charred to various degrees of intensity: the more char, the better the whiskey will be able to penetrate the wood and develop a darker color. Also, to be called "straight" bourbon, it must be aged a minimum of three years.

Bourbon is a sweeter whiskey by design, because corn is a sweet grain (think of it like cornbread vs. rye bread). The general flavor profiles will include notes of vanilla, candy corn, caramel, toasted marshmallows, butterscotch, and  cinnamon, and the older bourbons will have darker notes of plums, dates, and even leather.

And although alcohol is on demand with the rise of delivery services, the bourbon industry is not unscathed by the COVID-19 pandemic, said acclaimed bourbon expert Fred Minnick. Tourism is a key factor in distillers' revenue, and with individuals enforcing self-quarantine and social distancing, that has been rendered impossible.

Fred Minnick, bourbon expert

"Many of these distilleries are small, family-owned businesses, and a lot of them rely a big chunk on live events," he said.

Live tastings are also on hold, unless you do them online. Minnick has offered live tastings on his YouTube channel for years, making the transition easier, but for bartenders, distillers, and tasters accustomed to helping clients in person, times are tough. As such, Minnick hosted live-tasting fundraiser on Friday for bartenders out of work amid the coronavirus pandemic.

Still, with the ability to order bourbon unhindered, Business Insider spoke to three bourbon experts about their favorite bourbons on the market right now.

The experts

Minnick is the author of seven libation-based books. A frequent judge of the best bourbons in the United States at the San Francisco World Spirits Competition, he's moved into producing his own podcast, which pairs musicians to whiskies, in addition to curating for the prestigious Bourbon and Beyond festival.

At 32, Marianne Eaves is Kentucky's first female bourbon Master Distiller, the title used for experts in alcohol creation, since Prohibition. Having started at the distinguished Brown-Forman distillery, she is venturing into her own business as a spirits consultant on the road with her family after spending four years reviving another famed bourbon brewer, Castle & Key. In 2014, she was on Forbes 30 under 30 for her role as a Master Taster at Brown-Forman.

tommy tardie headshot

Tommy Tardie is a whiskey expert and owner of two fine-dining locations in New York City, Fine & Rare and the Flatiron Room, which offer about 1,400 unique bourbon expressions (different versions) and live music every night. 

In no particular order, these are their top 15 picks.

Michter's 20

Courtesy of Michter's Distillery

Tardie described Michter's 20 as a "beast of a bourbon." Given it's aging process of two decades, it has notes of dark cherry, dark chocolate, polished wood, and molasses, and almost chewy texture reminiscent of dates and raisins.

"Not cheap, and not easy to get," Tardie said, "but if you can afford it, then this is one you should try."

The bottle goes for $700 on retail, but Tardie has seen it selling at liquor stores and at auction houses for $2,500 to $3,500 a bottle.

Four Roses Small Batch Select

Courtesy of Four Roses

Four Roses is a popular distillery that consistently releases award-winning whiskeys. Tardie recommended this edition as it's in their permanent line up and therefore easier to find, costing around $25 a bottle at most retailers, and has a very full and rich taste. He described it as well-balanced, with notes of spearmint and vanilla and hints of winter spices like cinnamon, cloves, and nutmeg.

In that vein, Minnick prefers Four Roses' Single Barrel, which is in the $40 to $60 price range.

"Like a really big Jolly Rancher, with a kind of cinnamon note to it," he said. "This is for someone who really likes cinnamon."

Buffalo Trace Bourbon

Buffalo Trace Distillery

An ol' reliable: Buffalo Trace. Although affordable, Minnick said the distiller's namesake bottle is a little harder to get than it used to be, at anywhere between $30 and $150. 

This distiller also makes WL Weller's Full Proof, which Minnick described as a bourbon that everybody wants but nobody can get.

"Right now, it's the bourbon I can't keep in my house because my wife and I love it so much," he added.

See the rest of the story at Business Insider

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FEMA chief contradicts Trump, saying the Defense Production Act still hasn't been used to get critical supplies for coronavirus fight

Posted: 22 Mar 2020 08:58 AM PDT

donald trumpAssociated Press/Evan Vucci

  • The president has not yet made use of the Defense Production Act to get critical supplies to the frontlines of the coronavirus fight, FEMA Administrator Pete Gaynor told CNN Sunday.
  • The admission comes just two days after Trump said he was using the law and told reporters that he had directed "a lot" of companies to produce things like masks and ventilators.
  • "We cannot wait until people start really dying in large numbers to start production," New York Rep. Alexandria Ocasio-Cortez said Sunday, warning that medical facilities in her hard-hit state do not have enough of the supplies they need.
  • Visit Business Insider's homepage for more stories.

President Donald Trump has invoked but not yet started using the Defense Production Act (DPA) to get companies to manufacture critical supplies for the fight against the coronavirus, Federal Emergency Management Agency Administrator Pete Gaynor revealed to CNN's Jake Tapper Sunday.

"No. We haven't yet," Gaynor replied when asked on CNN's "State of the Union" if the Trump administration has ordered any companies to make more of any critical medical supplies needed on the front lines of the coronavirus fight.

See the rest of the story at Business Insider

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New York City's mayor warns April and May are going to be 'a lot worse' than March as coronavirus cases surge

Posted: 22 Mar 2020 08:44 AM PDT

Bill De BlasioREUTERS/Jeenah Moon

  • New York City Mayor Bill de Blasio says the worst is yet to come for the spike in coronavirus cases in New York City.
  • "April is going to be worse than March. And I fear May will be worse than April," de Blasio said on NBC's "Meet The Press" on Sunday. 
  • 10,356 New York State residents had tested positive for coronavirus as of Saturday evening. 
  • Visit Business Insider's homepage for more stories.

New York City's mayor has a stark warning regarding the escalating number of cases of coronavirus in the city and around the US.

"All Americans deserve the blunt truth, it is only getting worse," Mayor Bill de Blasio said on NBC's "Meet The Press" on Sunday morning. "April is going to be worse than March. And I fear May will be worse than April."

See the rest of the story at Business Insider

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We are all Modern Monetarists now

Posted: 22 Mar 2020 08:29 AM PDT

national debt clockJustin Sullivan/Getty Images

  • For decades, small government politicians and economists have preached the need to keep the national debt low and worries about causing inflation through government deficits.
  • But now as the government faces down the coronavirus pandemic, many people are abandoning their previous concerns about the national debt.
  • That means that as we respond to the pandemic, Modern Monetary Theory may finally take hold.
  • Dan Alpert is an adjunct professor at Cornell Law School and a founding managing partner of the New York investment bank Westwood Capital LLC.
  • This is an opinion column. The thoughts expressed are those of the author.
  • Visit Business Insider's homepage for more stories.

As the economic and market meltdowns gathered steam on March 11th, I tweeted out the following:

"If I had a [dollar] for each time I have heard MMT used positively over the past month, I could monetize the debt of an average US household! The markets, CEOs and not just a few [politicians] are cutting from 'mainstream' economists. My prediction: An epochal change, the likes of 1932 and 1980."

See the rest of the story at Business Insider

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London goes into lockdown: Here's what we know about how the coronavirus is shutting down the city

Posted: 22 Mar 2020 08:20 AM PDT

london coronavirus lockdown 1Getty

  • London is heading for lockdown as the coronavirus pandemic surges across the city.
  • All schools, bars, restaurants, cinemas and gyms were closed across the UK from Friday. 
  • 40 London Underground Stations have been closed.
  • Hospitals report a "critical incident" as the number of coronavirus cases surge in the capital.
  • 18 more people died of the coronavirus in London within 24 hours.
  • Downing Street denies any plans to prevent people from leaving or entering the city.
  • Visit Business Insider's homepage for more stories.

London is going into "lockdown" to prevent the rapid spread of the coronavirus.

Prime Minister Boris Johnson confirmed on Friday that all schools pubs, restaurants, cafes, nightclubs, cinemas, gyms and leisure centres would be closed across the UK from Friday.

Further London-specific restrictions have yet to be announced.

However, the Scottish First Minister Nicola Sturgeon revealed on Wednesday that the UK government are developing plans for "stringent measures" for the city, which could be announced imminently.

A Downing Street spokesperson on Thursday denied the government has any plans to restrict movement in and out of the city, or that limits would be placed on how many people could leave their homes.

Keep on reading below for the latest information on how the coronavirus pandemic is hitting London.

London parks begin to close as lockdown approaches


London Mayor Sadiq Khan was asked on the Andrew Marr programme on Sunday morning whether the city's parks should close in order to stop the spread of the coronavirus.

Khan declined to say either way, but it looks like individual boroughs are already starting to shut them down.

The Leader of Southwark Park, Peter John, has tweeted that all parks in the borough that can be locked up will be as of tonight. 

In parks which cannot be locked up entirely, areas within them that can be locked, such as tennis courts and playgrounds, will be locked instead.

A wider shutdown of open spaces in London looks increasingly likely.

London congestion charge suspended to keep Londoners off public transport.


London Mayor Sadiq Khan confirmed on the Andrew Marr show that the congestion charge and low emission zones have been suspended in order to encourage essential workers to drive where possible rather than taking public transport.

"Don't use public transport unless it is absolutely essential," Khan told the BBC's Andrew Marr show.


Londoners told to stay at home


London Mayor Sadiq Khan has urged Londoners to stay at home and only leave if it is "essential" for them to venture into the city.

Writing in the Observer newspaper on Sunday, Khan urges Londoners to:

"Avoid social contact. Work from home if you possibly can – my team and I will. Don't use public transport unless you absolutely have to. Do not attend any gatherings. Avoid places of worship. Pubs, clubs, gyms, cinemas and theatres should all now be closed. Restaurants and cafes must be takeaway or delivery only. Leave your home only if you really have to – to buy food and other essential items, to take a walk or exercise at a safe distance from others."

See the rest of the story at Business Insider

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The couple behind a home workout channel with 6 million YouTube followers says they've seen a spike in subscribers amid the coronavirus pandemic, and it shows the effect social distancing is having on people's routines

Posted: 22 Mar 2020 08:11 AM PDT

daniel kelli fitness blenderCourtesy of Fitness Blender

  • The coronavirus pandemic is altering the fitness influencer industry as more people seek workouts they can do at home.
  • Kelli and Daniel Segars of 6-million subscriber YouTube channel Fitness Blender told Business Insider they saw their daily new subscriber counts double in the first five days after the coronavirus was declared a pandemic.
  • In addition to the free videos on their YouTube channel, the couple also runs a website that offers a tiered membership program, Fitness Blender Plus, at a range of prices.
  • They said they've seen an uptick in viewership of no-equipment workouts.
  • Visit Business Insider's homepage for more stories.

The coronavirus pandemic may be hurting the travel influencer industry, but it might be a different story for fitness influencers.

Kelli and Daniel Segars are the couple behind home workout YouTube channel Fitness Blender, which has nearly 6 million subscribers. They told Business Insider that they saw their daily new subscriber counts double in the first five days after the World Health Organization declared the novel coronavirus a pandemic on March 11.

See the rest of the story at Business Insider

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A top Obama economist says there's 'a real danger' the looming coronavirus recession could be worse than the 2008 financial crisis

Posted: 22 Mar 2020 08:07 AM PDT

Jason FurmanJonathan Ernst/Reuters

  • Obama's former top economist is warning the economic crisis that results from the coronavirus could be worse than the 2008 financial disaster.
  • "There is a real danger that the economic crisis that comes out of this health crisis is worse than what we experienced in 2008," Furman told Business Insider in an interview.
  • Business Insider talked to Furman about the likelihood of recession, and how long it could take for the economy to dig itself out into a state of recovery.
  • Visit Business Insider's homepage for more stories.

The former top economist to President Obama is warning the coronavirus pandemic could throw the economy into a tailspin that's significantly worse than the financial disaster in 2008 — and believes its almost certainly in recession already.

In the past seven days, stocks continued their free-fall and recorded its worst finish since the financial crisis. Congress is scrambling to construct a colossal federal rescue package that may carry a price tag surpassing $1 trillion as economists warn layoffs are soaring and entire industries could be demolished in the fallout. 

See the rest of the story at Business Insider

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A Maryland couple bought a 120-year-old church for $320,000 and now live in it with their 3 kids — here's a look at how they turned it into a home

Posted: 22 Mar 2020 08:00 AM PDT

A8A4C56B 88E1 43DB 9336 2A2446715CB4 copyCourtesy of All Saints House

  • Anastasiia and her husband, Gunther, purchased a nearly 120-year-old church in Maryland for $320,000 in 2017.
  • The couple changed its name from All Saints' Church to All Saints House and now live there with their three children.
  • Anastasiia told Business Insider that the couple spent the past few years restoring it. When they moved into the church in June 2017, they began chipping away at their long list of restoration projects, which they document on Instagram.
  • Anastasiia estimated they'd spent about $40,000 to $50,000 on various projects around their home so far.
  • Visit Business Insider's homepage for more stories.

In December 2016, Anastasiia and Gunther, a young Maryland couple, were on the lookout for a restoration project. So when they saw a for-sale sign in front of an old church up the road from their house, they stopped the car and looked inside.

About six months and $320,000 later, it was theirs.

Now the couple and their three children live in the 120-year-old All Saints' Church. While they're actively renovating it, it maintains many of its original details.

What is now called All Saints House was deconsecrated in the 1970s, Anastasiia told Business Insider. Since then, it has seen three separate owners (not including Anastasiia and Gunther) who have added lofts, rooms, skylights, and bathrooms.

The couple said that when they bought the home, it was livable but had sat empty for years and needed some fine-tuning. So they began chipping away at their long list of restoration projects, which they document on Instagram.

So far, completed projects include the stripping of dangerous lead paint from the front door, adding a breakfast bar in the kitchen, redesigning the master bedroom, and renovating the kitchen.

Business Insider caught up with Anastasiia to find out what it's like to live in a house with over a century of history.

If you have a story you'd like to share, get in touch with this reporter at

Anastasiia and her husband, Gunther, bought All Saints' Church, which they now call All Saints House, for $320,000 in 2017.

Courtesy of All Saints House

Anastasiia told Business Insider that she and her husband had been on the lookout for an old house to restore. So when they saw a for-sale sign in front of an old church up the road from their house, they immediately went inside.

"The moment we walked in, that was it. It was love at first sight," she said. "We looked at each other and said, 'Yes, we definitely want to live here,' and called our real-estate agent."

Anastasiia, a teacher, and Gunther, a biostatistician, have always shared a love of old houses and follow restoration projects on social media.

"We are part of a growing Instagram community of old-house lovers and people who restore old houses," Anastasiia told Business Insider. "So we have a lot of friends on Instagram that we get great ideas from and ask for advice."

According to the Maryland government's website, the church was designed by a New York architect, Henry Martyn Congdon, nearly 120 years ago. It was built to replace a church, also designed by Congdon, that burned down on December 31, 1899.

Courtesy of All Saints House

According to Anastasiia, All Saints' Church served as a place of worship in Maryland until the 1950s and remained empty until it was deconsecrated in the 1970s. Since then, it has seen a handful of owners who have added lofts, rooms, and bathrooms.

"The changes that were made to the building are not permanent," she told Business Insider. "You can take down everything that's been put up, and it can be a functioning church again."

Despite the additions, the building's original Gothic-revival architecture has been preserved for nearly 120 years. To this day, the church features original finishes.

In fact, the home's stained-glass windows were imported from Munich at the turn of the century.

Courtesy of All Saints House

As soon as the couple bought the church, they began chipping away at their long list of restoration projects.

The first task was to clean the house from top to bottom, which took about two weeks, Anastasiia told Business Insider.

Anastasiia estimated they'd spent about $40,000 to $50,000 remodeling and renovating so far.

See the rest of the story at Business Insider

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10 US colleges and universities where female grads have gone on to secure more than $1 million in funding for their startups

Posted: 22 Mar 2020 08:00 AM PDT

katrina lake stitch fixStitch Fix

  • To date, there have been some 6,940 female company founders whose businesses have received more than $1 million in funding, according to research by UK business banking app Tide
  • A number of these successful female founders have graduated from a cluster of top schools in the US. 
  • Here are the top 10 US universities that have graduated the most female founders who've raised over $1 million, including MIT and Stanford University. 
  • Visit Business Insider's homepage for more stories.

The state of women in the venture capital world is far from perfect.

In 2019, female-founded companies only got 2.7% of VC funding, for a total of $3.54 billion, according to PitchBook. That's less than one company, WeWork, got during the same period, Fortune points out. WeWork received at least $5 billion. 

And yet, women are entering entrepreneurship at a high rate. From 2018 to 2019, women started an average of 1,817 new businesses per day in the US and now represent 42% of nearly 13 million businesses overall. Women of color, in particular, are leading the way. They started 89% (1,625) of the new businesses opened every day from 2018 to 2019, according to the annual State of Women-Owned Businesses Report

To date, there have been some 6,940 female company founders whose businesses have received more than $1 million in funding, according to Tide, a UK business banking app based that provides financial services for small and medium-sized enterprises. Using data from Crunchbase, a platform for finding business information, researchers sought to find out where these successful female entrepreneurs were graduating from. Not surprisingly, many that made the list are prestigious Ivy-league schools. In total, these female entrepreneurs have raised over $1 billion in funding.

Here are the 10 colleges that have graduated the most female founders who've raised over $1 million. 

1. Stanford University


Stanford University produced the most female founders who raised over $1 million, 186 to be exact. One Stanford graduate, Katrina Lake, founded Stitch Fix, an online personal styling service in the US. The company went public in 2017 and was valued at $1.4 billion at its IPO.  

2. Massachusetts Institute of Technology

Brian Snyder/Reuters

Some 120 successful female founders graduated from MIT. One of those graduates, Stefania Mallett, founded ezCater, an online catering marketplace with approximately $320 million in funding. 


3. Harvard University

Jessica Rinaldi/Reuters

Harvard University graduated 105 female founders who've raised more than $1 million. Harvard graduate Alison Slavin, for example, founded, has raised at least $136 million.  

See the rest of the story at Business Insider

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Airline and flight reviewing YouTubers say views have cratered due to coronavirus and it's threatening their livelihoods

Posted: 22 Mar 2020 07:37 AM PDT

FILE PHOTO: Silhouettes of mobile device users are seen next to a screen projection of Youtube logo in this picture illustration taken March 28, 2018.  REUTERS/Dado Ruvic/IllustrationReuters

  • The spread of the coronavirus and an influx of travel bans have left YouTube content creators and their channels grounded as air travel falls out of favor with the public.
  • Vloggers expressed their concerns as viewership is down and the crisis has prevented most from booking flights and creating new content for their channels in interviews with Business Insider.
  • Established and growing channels alike have experienced a decline in viewership and revenue as the public's fascination with aviation is temporarily put on hold with smaller channels the most vulnerable. 
  • Visit Business Insider's homepage for more stories.

Some travelers love to fly, some hate it, and for others, it's not a bad way to make a living or lucrative side hustle.  

No matter how you view it, the airline industry will always remain a constant source of fascination for even the most infrequent of flyers thanks to the spectrum of offerings from airlines around the world.

Documenting these offerings is a growing subset of YouTube vloggers dedicated to showing the world the very best and worst of the airline industry. Differing from blogs that provide photo-based flight reviews, most airline vloggers are personalities who are as much in front of the camera as they are behind it, creating followings that can result in hundreds of thousands of subscribers and millions of views.

They're all passionate aviation enthusiasts, also known as "avgeeks," who have turned their passions into revenue-generating YouTube channels. For them, each flight is an opportunity to grow their following while sharing their passions.

The spread of the novel coronavirus across international boundaries, however, has resulted in a steep reduction in the demand for travel and it's affected the YouTubers who rely on the public's endless fascination with air travel to grow their channels and earn revenue. 

Views have gone down across most Of these channels since the virus began impacting global travel in late February and early March.

Joey Hadden/Business Insider

"The tipping point was Italy closing its borders and the general fall in numbers has continued since then, plateauing in the last few days at 30-40% below expectations," Paul Lucas, who runs the channel Wingin' It! Paul Lucas on YouTube, a five-year-old channel, said.

Lucas' channel, which has 186,000 subscribers, is his main source of income and the month of March has seen similar decrease in percentage of revenue as in viewership. The UK-based jet setter isn't alone.

"Fewer people are watching the videos we make," Jeb Brooks, founder of Jeb Brooks Flies with a subscriber base of 148,000 people, said. "According to [YouTube] data, our channel ordinarily gets more than 1 million views in a four-week period. That's down to 675,000 for the last four weeks."

The crisis creates a vicious cycle for the vloggers, who are skeptical about booking future flights but need to produce more content for the channels.

Mario Tama/Getty Images

"We have canceled all of our trips until and including the month of April," David Pauritsch, who co-runs Simply Aviation, the second largest airline-focused YouTube channel with nearly 400,000 subscribers, said.  "We continue to evaluate the situation as to whether our trips in May should be canceled too."

Without new content keeping channels fresh once the backlog runs out, the YouTube creators risk losing following and falling behind other channels. Larger channels with more frequent travels and greater backlogs can better weather the storm than smaller channels, but still expect to take a hit without new videos. 

"We can continue to publish three new videos per week until at least the end of 2020 before running out of content,"Pauritsch said.

Many worry about being quarantined or having travel plans disrupted by a border closure or travel ban if they choose to take a trip.

Omar Martínez/picture alliance via Getty Images

Many countries have already closed borders to foreigners in one form or another with nations such as the USA and Canada, as well as the entirety of the European Union restricting who can come in.

Lucas said it's not the fear of the virus that keeps him grounded, but the growing travel bans.

Most of the YouTubers are savvy travelers who, through a lifetime of travel for work or pleasure, have found ways to travel at a discounted cost whether it be through credit card perks, racking up points, or piecing together flight deals.

In the event of quarantine or situation where they find themselves stranded, some smaller or creators of lesser means may find themselves with unsalvageable trips and limited resources.

See the rest of the story at Business Insider

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The coronavirus pandemic shows we need to totally overhaul how we treat delivery app workers

Posted: 22 Mar 2020 07:33 AM PDT

delivery workerAngela Weiss/AFP/Getty Images

  • We are relying more and more on delivery apps during the coronavirus pandemic.
  • The workers for these companies are tasked with bringing us food and other essentials while earning low wages and taking health risks.
  • While we shouldn't stop using these apps completely, there are steps we have to change the way we interact and think about these workers.
  • Diana Enriquez is a PhD Candidate in Sociology at Princeton University. Her research areas are labor, law, and technology and her dissertation work is on freelance, contract, and gig work.
  • Visit Business Insider's homepage for more stories.

Rapid delivery services are seductive in cities where we're taught to streamline anything we can so we can focus on our jobs.

When I moved to New York, I learned about services like Instacart for groceries, Seamless for takeout, and Amazon Prime Now for virtually everything else. Through these apps, I developed expectations that I could expect anything I wanted to arrive by trackable delivery messenger in a predictable period of time. 

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White supremacists discussed using the coronavirus as a bioweapon, explosive internal document reveals

Posted: 22 Mar 2020 07:17 AM PDT

medical tools doctor hospital nurse injury aids STD doctor's office tylenol blood bandaid syringe, advilCrystal Cox/Business Insider

  • Federal investigators have learned that white supremacists discussed plans to use the coronavirus as a bioweapon, Yahoo News reported, citing a weekly intelligence brief from a division of the Department of Homeland Security.
  • "White Racially Motivated Violent Extremists have recently commented on the coronavirus stating that it is an 'OBLIGATION' to spread it should any of them contract the virus," the document said.
  • White supremacists suggested targeting law enforcement and "nonwhite" people in particular.
  • They floated options like leaving "saliva on door handles" at local FBI offices, spitting on elevator buttons, spreading the virus in "nonwhite neighborhoods," and being in public with their perceived enemies.
  • Visit Business Insider's homepage for more stories.

Federal investigators have learned that white supremacists in the US discussed plans to use the coronavirus as a bioweapon, Yahoo News reported, citing a weekly intelligence brief from a division of the Department of Homeland Security.

The brief covered the week of February 17-24 and was written by the Federal Protective Service.

See the rest of the story at Business Insider

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How the sports-betting industry is responding to the coronavirus pandemic that has halted most major sporting events

Posted: 22 Mar 2020 07:10 AM PDT

BaylorAP Photo/Sue Ogrocki

  • The legal sports-betting industry is scrambling to adapt to the lack of live sporting events, as major leagues cancel or postpone their seasons due to coronavirus concerns.
  • Sports-betting companies, and the media businesses that had been rushing to capitalize on the industry, are cutting costs to keep their businesses afloat and finding creative ways to keep fans entertained while much of the sports world is in limbo.
  • Online-gaming companies, like FanDuel and DraftKings, are launching betting pools around topics like politics or TV shows, and looking to smaller and international events that are still playing, like horse racing, rugby, and Australian A-League soccer. 
  • All eyes are also on the fall NFL season as the next big comeback opportunity for sports betting.
  • Visit Business Insider's homepage for more stories.

The coronavirus pandemic has dealt a blow to the legal sports-betting industry that was poised to take off in the US in 2020.

Major sporting events, including the college-basketball betting frenzy known as March Madness, have been canceled. Others, like the NBA, NHL, and MLB seasons, are on hold.

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THE RISE OF BANKING-AS-A-SERVICE: The most innovative banks are taking advantage of disruption by inventing a new revenue stream — here's how incumbents can follow suit

Posted: 22 Mar 2020 07:01 AM PDT

This is a preview of The Rise of Banking-as-a-Service research report from Business Insider Intelligence. Purchase this report. Business Insider Intelligence offers even more insights like this with our brand new Banking coverage. Subscribe today to receive industry-changing banking news and analysis to your inbox. Banking as a Service 4x3Fintechs are encroaching on incumbents' share in the banking game, forcing them to explore new business models — but tech-savvy legacy banks can treat this as an opportunity rather than a threat by moving into the Banking-as-a-Service (BaaS) space.

BaaS platforms enable fintechs and other third parties to connect with banks' systems via APIs to build banking offerings on top of the providers' regulated infrastructure. This means banks that launch BaaS platforms can actually benefit from fintechs entering the finance space, as it turns fintechs into customers rather than just competitors. Other benefits from launching a BaaS platform include being able to monetize such platforms, establishing strong relationships with fintechs, getting ahead of the curve in terms of open banking, and accumulating additional data from third parties.

In The Rise of Banking-as-a-Service, Business Insider Intelligence looks at the benefits banks stand to gain by offering BaaS platforms, discusses key players in the industry that have already successfully launched BaaS platforms, and recommends strategies for FIs looking to move into BaaS.

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6 daily rituals that are scientifically proven to boost your focus and raise your productivity levels for work

Posted: 22 Mar 2020 07:00 AM PDT

freelancing working from homeMerla/

  • If you find yourself working from home or working remotely, it may feel difficult to stay productive when you're not in your usual office environment or surrounded by busy colleagues.
  • While many high-profile CEOs tout their own secrets to success and promote the 'four hour work week' mentality, some of those habits may not be realistic for everyone.
  • Instead, focus on improving elements of your job that you can control: Say 'no' to too many obligations that will derail you from bigger goals, turn off external distractions, and take time to disconnect and recharge.
  • Visit Business Insider's homepage for more stories.

Want to be more productive during your day or week? Do what some of the world's most successful people do to gain an edge and get the most out of a day.

But if following the advice of a Warren Buffett, Oprah Winfrey, or Bill Gates isn't your cup of tea, consider following the advice of science. It has been telling us the best tricks to become more productive for decades, and you don't even have to wake up at that ungodly hour of 4 a.m.!

While some things are out of our control when it comes to managing our day, there are things within our control that may just transform how we perform our work — while giving back our lives.

1. Get on the same page before a meeting

Jack Dorsey cofounded one of the most connective social media platforms out there: Twitter. It's clear from the way he holds meetings that connectivity is not just what he does for work, but how he does it.

"Most of my meetings are Google-Docs-based, starting with 10 minutes of reading and commenting in the doc," Dorsey tweeted. "This makes time for everyone to get on the same page, allows us to work from many locations, and get to critical thinking faster."

Research agrees with Dorsey. According to a recent study, making sure everyone is on the same page creates a sort of "team" feeling among co-workers and allows you to get to critical thinking faster — a key piece of productivity. 

2. Train your mind to say 'no'

WOCinTech Chat/flickr

According to research by Morten Hansen, a professor at UC Berkeley and the author of "Great at Work: How Top Performers Do Less, Work Better, and Achieve More," learning to say "no" allows us to minimize our obligations and attain greater focus. Additionally, those with difficulty in saying no are more likely to experience stress, burnout, and even depression.

The late Steve Jobs was a big proponent of this strategy. At the 1997 Apple Worldwide Developers Conference, Jobs dropped this timeless piece of wisdom about what true focus entails:

"People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I'm actually as proud of the things we haven't done as the things I have done."

3. Recharge

Oli Scarff/Getty Images

One thread that connects almost all successful executives is productivity. As a CEO who bootstrapped her company, Beth Gerstein, cofounder of Brilliant Earth, is a firm believer of detaching from your tech and recharging yourself. In other words, "Be on when you're on and know when to disconnect."

Gerstein stresses the importance to get outside, walk to work, listen to your favorite podcast or spend time with family. "I've found that allowing myself time to detach and recharge — for instance, listening to the Headspace app on my way to work — is an integral part of harnessing the power of productivity."

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SEE ALSO: Working from home is not an impossible feat — and amid the coronavirus pandemic, it might be necessary. Here's how to keep 'work' and 'home' separate.

READ MORE: Google found 3 ways to improve employee collaboration and productivity while working virtually. Here's how your company can apply those principles.

You might have noticed your high-yield savings account interest rate falling, but it's only temporary

Posted: 22 Mar 2020 06:58 AM PDT

high yield savings account droppingWestend61/Getty Images

  • High-yield savings accounts are tied to the federal funds rate.
  • The Federal Reserve has lowered the federal funds rate, so high-yield savings account rates are going down, too.
  • Even with lower rates, high-yield savings accounts earn more than checking and regular savings accounts, making them ideal places to store money for short-term savings goals, such as buying a home.
  • When the Federal Reserve increases rates down the road, your high-yield savings account rate should go up, too.
  • See Business Insider's picks for the best high-yield savings accounts »

If you have a high-yield savings account, you may have noticed your APR has decreased since you set up the account. 

Lower rates are discouraging. After all, the entire point of a high-yield savings account is that it earns more interest than checking accounts and regular savings accounts

See the rest of the story at Business Insider

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