The biggest update to come with Apple's new 13-inch MacBook Pro is its Magic Keyboard, which replaces the controversial butterfly keyboard that's been prone to issues in recent years.But the base model of the new laptop comes with the same Intel 8th-generation processors as its predecessor, while several Windows competitors run on 10th-generation processors.That means if you want to get the increased performance that comes with Intel's newer processors, you'll have to opt for the pricier $1,800 version of the new MacBook Pro.Visit Business Insider's homepage for more stories.

Apple's new MacBook Pro addresses the previous model's biggest drawback by swapping out the controversial butterfly keyboard for the company's much-improved Magic Keyboard.

But the new laptop still lags behind some Windows rivals like Dell, HP, and Microsoft when it comes to one important characteristic: its processor.

The base model of Apple's new MacBook Pro that starts at $1,300 comes with an 8th-generation Intel processor — the same processor as the previous-generation model — which the chip maker initially announced in 2017. There's an option to upgrade to Intel's latest 10th generation processors, but you'll have to choose a pricier model that starts at $1,800.

That makes some well-received Windows laptops look like a bargain alongside the MacBook Pro. Dell's XPS 13, which is currently Business Insider's top pick for the best overall laptop, comes in a $1,200 configuration that includes a 10th generation Intel Core i5 processor, with the option to upgrade to a more powerful Core i7 for an extra $250. 

HP's Spectre x360 13t also offers a 10th generation Intel Core i5 and a touch screen display for $1,120, unlike the pricier entry-level MacBook Pro. Similarly, Microsoft's Surface Laptop starts at $1,000 and comes with 10th generation Intel processors.

It's worth noting, however, that the MacBook Pro does offer some advantages that these Windows options may lack, even if they are less expensive and run on newer processors than Apple's base model. The MacBook Pro, for example, has a higher resolution display (2560 by 1600) compared to the 1920 by 1080 resolution screen on the base configuration of HP's laptop.

The cheapest model of Microsoft's Surface Laptop 3 also comes with 128GB of storage while the entry-level MacBook Pro comes with 256GB. But overall, the Surface Laptop 3 still offers more power for the same price considering the configuration that's priced similarly to Apple's $1,300 MacBook Pro has a 10th-generation Intel processor and offers the same amount of storage.

The new MacBook Pro, other than its much improved keyboard, increased storage capacity, and 10th generation Intel processors for the higher-end models, doesn't seem to be much different than its predecessor.

It's not nearly as drastic as the changes we've seen come to Apple's larger-sized MacBook Pro at the end of 2019. The bigger MacBook Pro now has a more expansive 16-inch screen with slimmer bezels compared to the older 15-inch model. It also comes with the Magic Keyboard, improved microphones and speakers, and new storage and memory options. 

The latest MacBook Pro seems like a move by Apple to make its new Magic Keyboard standard across all of its laptops rather than providing a major upgrade to the 13-inch Pro. Several reports from analyst Ming-Chi Kuo and Bloomberg suggest that Apple is planning some significant changes to its MacBook Pro line over the coming months heading into 2021.

These could include a new 14-inch model that will likely serve as the smaller counterpart to Apple's 16-inch model, the first Apple laptop to run on its own processors rather than Intel's, and laptops with mini-LED displays that offer better contrast. Should these reports turn out to be true, the newly announced MacBook Pro could be an iterative update ahead of what is shaping up to be a larger refresh.

Original author: Lisa Eadicicco

WeWork founder Adam Neumann is suing SoftBank for backing out of a planned $3 billion stock purchase. He could group his lawsuit with a similar case filed last month by two former board members.Neumann's lawsuit claims that in late December, SoftBank and Marcelo Claure, WeWork's chairman, amended the agreed-upon order of the stock purchase agreement without Neumann's permission. For more WeWork stories, click here.

Adam Neumann is suing SoftBank, the Japanese investor that pushed the WeWork founder to go big before forcing his resignation in September.

Neumann, represented by three law firms, claims SoftBank breached its contract in walking away from a planned stock purchase last month. The tender offer would have allowed early WeWork employees, investors, and Neumann to sell up to $3 billion of shares in the privately held company, including up to $970 million of Neumann's shares. 

The stock deal was part of a broader rescue package SoftBank arranged for WeWork in October after the office-sharing startup was forced to cancel its initial public offering due to spiraling losses and concerns about Neumann's management. But SoftBank abruptly backed out of the plan to buy shares from Neumann and the other insiders earlier this year, reportedly saying WeWork wasn't in compliance because it was under investigation by the Securities and Exchange Commission and the Justice Department, among other governmental bodies.

Two WeWork board members also sued SoftBank last month over the same issue, with a trial set for January 2021. Neumann could group his case with that lawsuit. 

SoftBank, which is WeWork's largest investor, said it would fight both lawsuits.  

"SoftBank will vigorously defend itself against these meritless claims," Rob Townsend, SoftBank's chief legal officer, said in a statement. "Under the terms of our agreement, which Adam Neumann signed, SoftBank had no obligation to complete the tender offer in which Mr. Neumann – the biggest beneficiary – sought to sell nearly $1 billion in stock."

Benchmark Capital planned to sell $340 million worth of WeWork shares to SoftBank as part of the tender offer, which would have made it the biggest individual seller in the deal other than Neumann, Business Insider previously reported.

Neumann's lawsuit highlights a new detail about the stock purchase program, which was part of a larger plan that also included SoftBank buying up to $1.1 billion in WeWork's debt. The lawsuit claims that SoftBank and its Vision Fund changed the agreement to allow the debt financing to be done "before or after" the tender offer closed, rather than have the debt contingent on the stock purchase. 

Marcelo Claure – SoftBank's chief operating officer and WeWork's chairman – signed the amended document on December 27, though Neumann said in the suit that he did not agree to the change. 

SoftBank "simply removed Plaintiffs' signature block from the document," the lawsuit said. 

SoftBank then committed to buy the WeWork debt, giving it more financial control over the company in a "clear example" of how the Japanese company used "control and deceit" for its best interests, the lawsuit said. 

Like the directors' lawsuit, Neumann's filing also underscores how another WeWork transaction is allegedly a breach of its fiduciary duties and the master agreement that included the stock purchase. WeWork had planned to roll up its China joint venture, a transaction that was a condition to closing the tender offer.

Both lawsuits allege that SoftBank founder Masayoshi Son and other executives convinced some minority investors not to waive their rights of first refusal and co-sale rights, which would prevent the rollup and thus the tender offer. SoftBank instead found an alternative financing route for the China JV via a minority investor, which would "give [SoftBank] an excuse for refusing to close the Tender Offer," per Neumann's lawsuit. 

If Neumann had known that SoftBank was not committed to closing the China JV, he would not have considered changing the overall agreement, his lawsuit said. 

Last month, a SoftBank representative noted multiple, unspecified conditions for the tender offering's closing were not met. Neumann is asking the court to force SoftBank to complete the tender offer or make it pay damages for breaching the agreement in an amount to be determined at trial. 

WeWork was once the crown jewel of SoftBank's $100 billion original Vision Fund, with a valuation of some $47 billion. But public investors frowned on the company's massive losses, high costs, and questionable executive transactions, forcing WeWork to abandon its IPO effort even after offering to cut its valuation by nearly 75%.

After the failed IPO, WeWork was mere weeks away from running out of money before SoftBank stepped in with its rescue package. That package helped stabilize the company for the short term, but it's still burning through copious amounts of cash — more than $1 billion in the fourth quarter alone.

The company went through $1.4 billion in the last quarter of 2019, per an investor letter released last week. WeWork ended the year with $4.4 billion in cash and cash commitments.

Now, WeWork going through its second major round of layoffs, as Sandeep Mathrani, who started as CEO in February, navigates WeWork through the pandemic. 

You can read Neumann's full lawsuit below:

 

Have a WeWork tip? Contact this reporter via encrypted messaging app Signal at +1 (646) 768-1627 using a non-work phone, This email address is being protected from spambots. You need JavaScript enabled to view it. or Twitter DM. 

Original author: Meghan Morris

An Audible membership does not come free with Amazon Prime, but while it requires a separate subscription, Prime members do stand to get discounted pricing on membership.A number of Audible books are free with your Prime membership, though the list of titles is small compared to the entire Audible library.You will get a free Audible book plus a credit for another when you start your Audible membership, which begins with a free trial, and you can keep the books even if you cancel before the first pay period.Visit Business Insider's homepage for more stories.

Audible is an Amazon service, but the two entities are effectively separate.

So, unlike the movies and shows you get with Prime Video and the music you get with Prime Music, your Amazon Prime membership does not get you an Audible account.

Prime members do get access to a number of free podcasts and Audible books, and though the latter includes both classics and recent works, the titles number in the dozens as opposed to the hundreds of thousands in the main Audible library. 

There are also a number of "Audible Originals" that you can get for free with a download of the free Audible app on your Mac, PC, Android, or iPhone.

Check out the products mentioned in this article:

Audible Membership (From $45.00 at Amazon)

iPhone 11 (From $699.99 at Apple)

Samsung Galaxy s10 (From $699.99 at Walmart)

Apple Macbook Pro (From $1,299.00 at Apple)

Lenovo IdeaPad 130 (From $469.99 at Walmart)

Audible does not come with Amazon Prime, but you can get a discounted membership 

While Audible is not free with your Prime membership, it can be much cheaper. 

Prime members signing up for Audible for the first time can get a month free (or other promotional discounts, as depicted below, subject to change and prior membership status), but after that you have to pay $14.95 per month.

Original author: Steven John

You can still listen to Audible books you've purchased after cancelling your membership. If you have remaining credits left when you cancel your membership, however, you would lose those upon cancellation.Here's what else you should know about cancelling your Audible membership.Visit Business Insider's homepage for more stories.

Subscription services can be a great way to try out something new, but they could become a financial drain before you realize it. 

That's when cancellation is the best option for you. But that doesn't mean you want to lose everything you've paid to access. 

Check out the products mentioned in this article:

Apple Macbook Pro (From $1,299.00 at Apple)

Lenovo IdeaPad 130 (From $469.99 at Walmart)

You can still listen to Audible books after cancelling your membership, but you'll lose your credits

With Audible, for example, if you opt to cancel your Audible membership, you would still have access to the audiobooks you purchased via your Audible library.

However, you would lose any credits accumulated during your membership, so you'd want to use those before cancelling. Otherwise, you would waste your credits. 

Whether times are tough, or you're just not interested in audiobooks anymore, here's how you can cancel your Audible membership. 

How to cancel your Audible membership

If you're interested in cancelling your membership, here's how to get it done:

1. Log into your Audible account on your Mac or PC.

2. Hover over "Hi, [name]!" located in the top menu and select "Account Details."

Click "Account Details." Devon Delfino/Business Insider

3. Enter your login information, if prompted.

4. Click "Cancel membership."

Click "Cancel membership." Devon Delfino/Business Insider

5. Follow the on-screen instructions to complete your cancellation.

If you have remaining credits when you attempt to cancel, you should be prompted to use those first. If you choose not to, you would lose those credits.

 

Original author: Devon Delfino

You can advertise on Facebook through the Help Center, allowing you to build your business or brand's audience and reach new customers.When you advertise on Facebook, you'll have access to a wide range of metrics, which can help you tailor your ads to your specific audiences and increase their effectiveness.Before you create your advertisement, you'll need to provide Facebook with information about what you want the advert to accomplish.Visit Business Insider's homepage for more stories.

Facebook ads provide a way for small businesses to easily reach a targeted audience.

With a variety of ad formats to choose from, you can reach your target audience in a way that fits your brand, whether it's through videos, polls, slideshows, augmented reality games, or stories.

Facebook also gives you access to metrics so you can figure out how your ad is performing, and make changes to better suit your audience in the future. Advertising on Facebook is relatively straightforward, provided you already a Facebook business page and know what you want your ad to look like.

When you're ready to start creating ads, Facebook will offer two workflow options: Guided or Quick Creation. If you're new to Facebook ads, you'll want to take the guided route, as it offers step-by-step directions for setting up your ad. More advanced business page users can opt for the quick workflow, which allows them to set up a campaign and then create ads later.

Regardless of the workflow you choose, here's what you need to know to get your Facebook ads up and running. You can do this through any internet browser on a Mac or PC.

Check out the products mentioned in this article:

Apple Macbook Pro (From $1,299.00 at Apple)

Lenovo IdeaPad 130 (From $469.99 at Walmart)

How to advertise your business on Facebook

1. On your Mac or PC, go to the Facebook Ads Help Center and click the blue button in the top-right labeled "Create an Ad."

Original author: Devon Delfino

When you buy through our links, we may earn money from our affiliate partners. Learn more.

Antonio Villas-Boas/Business Insider Google's new Pixel Buds get the basics right for earbuds: they sound good, they look good, they're comfortable, and they're compact. Sadly, however, there's no noise cancellation feature, background static is noticeable when listening to quiet songs, and I continue to find Google Assistant to be an awful mess in earbuds.For $180, you'd be overspending on the Pixel Buds. That's because there are lots of wireless earbuds that sound similar with lower price tags and less issues to deal with. If you're looking for more headphone recommendations, be sure to check out our roundup of the best headphone deals.

 

There are countless wireless earbuds for Android, many of them with Google Assistant functionality and varying degrees of sound quality at different price points. Serving as a true wireless successor to Google's 2017 Pixel Buds, the new Pixel Buds are yet another entry in this crowded field of earbuds. 

But, in effect, there isn't much about Google's new Pixel Buds that help differentiate them from the competition, save for an easy pairing feature for Android phones that's only really useful once or twice in their lifetime. 

I honestly can't say that I've tried all wireless earbuds out there, but I've tested a few of the Pixel Buds' major competitors, including the AirPods, Samsung Galaxy Buds, and Sony WF-1000XM3s. Among those, the Pixel Buds sit squarely in Apple's AirPods category — good, but expensive for what you get.

Specifications

IPX4 sweat resistance5-hour battery life, 2.5 hours of voice call time24 hours of battery life in wireless charging caseBluetooth 5.0 connectivityGoogle Assistant support12mm drivers

Style and fit

Style-wise, these are some nice earbuds. They're small and they don't stick out of your ears. They're true "buds" in that they don't have an arm that sticks out, like Apple's AirPods. 

They're available in different colors, including white, orange, mint, and black. But those options are only for the earbuds themselves — the charging case is white no matter which option you go for. 

The new Pixel Buds will likely fit and stay in several ear sizes and shapes with their in-ear and rubber tip design. For reference, Apple's AirPods and similar earbuds slide out of my ears no matter what I do. You get three different rubber tip sizes included with the Pixel Buds, so you'll likely find a comfortable fit that also keep the Pixel Buds in your ears, even during workouts.

Original author: Antonio Villas-Boas

Furloughs and layoffs have begun to hit all the major ad holding companies as the coronavirus pandemic has ground the economy to a halt and led advertisers to cut spending.MDC Partners' CPB, Omnicom's DDB and BBDO, and WPP's Grey were among the creative agencies affected.Omnicom Media Group leadership recently confirmed a round of layoffs at multiple agencies in an internal memo.Executives at WPP, IPG, Publicis, and Omnicom have said they would take pay cuts.Click here for more BI Prime stories.

Layoffs and furloughs have begun to hit the ad industry's major holding companies due to the economic effects of the coronavirus pandemic.

MDC Partners' CPB, Omnicom's DDB, WPP's Grey, and IPG's Deutsch were among the agencies affected in mid-April. Omnicom Media Group also also laid off employees across agencies including OMD, the world's largest media-buying firm by revenue.

Other reports and recent comments from the leaders of these companies indicated that cost-cutting moves will affect nearly every agency in their networks.

Omnicom Media Group laid off employees across agencies as travel clients like Carnival and Delta paused spending

Omnicom CEO John Wren said on April 14 that there would be furloughs and headcount reductions across many of its agencies.

Omnicom Media Group, which handles media-buying for clients such as PepsiCo, Apple, and McDonald's, laid off staff at the US offices of OMD, PHD, and other agencies in its network later that week, according to a memo sent by North American CEO Scott Hagedorn and COO John Swift on April 16.

"Leading our business during these times requires some very tough choices. None more so than today, as some of our colleagues were laid off across all OMG US agencies," Swift and Hagedorn wrote.

It is not clear how many employees were affected. A person with direct knowledge of the matter who is known to Business Insider but requested anonymity because they are not authorized to speak publicly said PHD was hit hardest because two of its most important clients, Carnival Cruise Line and Delta Airlines, have almost completely paused spending.

The person said most of the cuts were layoffs. An Omnicom spokeswoman confirmed that OMG agencies instituted reduced work weeks, furloughs and layoffs but declined to elaborate.

CPB, whose clients include Domino's Pizza, had to furlough and lay off staff

Two people with direct knowledge of the matter, who are known to Business Insider but requested anonymity, said the changes hit CPB on April 14.

These people said more than 30 employees were affected, with most placed on furlough but around a dozen laid off. One also said non-billable employees, or those whose hours are not billed directly to clients, were moved to part-time work, and that many took pay cuts.

CPB declined to confirm specifics.

"Like everyone across the industry, we've been affected by the global pandemic. We have made the difficult yet unavoidable decision to furlough a portion of our staff, and lay off a small group," CPB global CEO Erik Sollenberg said. "Our people are our most valuable asset and we feel for them as well as everyone affected by this situation around the world."

CPB's largest clients are Domino's Pizza and Infiniti, but both people said the agency has struggled to win new business over the past year.

DDB, BBDO and WPP's Grey have also begun to make staffing changes

Omnicom's DDB also went through an unspecified number of layoffs in multiple offices, according to two people with knowledge of the matter.

Reports had fellow holding company agency BBDO laying off between 75 and 100 employees, including top creative leaders, in its New York headquarters.

Spokespeople for Omnicom and DDB declined to comment.

WPP-owned Grey, best known for its controversial Gillette ads, instituted hiring freezes and senior-level pay cuts and placed more than 3% of New York staff on furlough to avoid layoffs, according to a person with knowledge of the matter who is known to Business Insider but spoke on condition of anonymity.

A spokesman declined to comment.

The full effects of the virus on the holding companies will not be clear for months

In internal memos and interviews, WPP CEO Mark Read and IPG CEO Michael Roth would not rule out layoffs and said executives would take pay cuts, with WPP's executive committee foregoing 20% of its pay during the second quarter.

Adweek previously reported layoffs and furloughs at IPG agencies MullenLowe and Deutsch.

Publicis, which released an early Q1 earnings report on April 13, said CEO Arthur Sadoun and other members of its advisory board would take a 30% pay cut.

Wren wrote in his memo that he would waive 100% of his own salary, with Omnicom agency network CEOs cutting their pay by one-third.

Dentsu implemented pay cuts averaging about 10% across its Dentsu Aegis Network agencies in the US, according to employees who spoke to Business Insider. The company confirmed furloughs and reductions but did not go into detail.

MDC Partners declined to comment for this story.

Each of the holding company CEOs earns the vast majority of his annual compensation from bonuses and stock rather than salary. In 2010, a prominent New York money manager that owned 1% of Omnicom at the time criticized the company for granting 22 million stock options to executives during the last economic downturn.

Got more information about this story or another ad industry tip? Contact Patrick Coffee on Signal at (347) 563-7289, email at This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it., or via Twitter DM @PatrickCoffee. You can also contact Business Insider securely via SecureDrop.

Original author: Patrick Coffee

Skye Gould/Business Insider

Zoom said it had 300 million free and paid meeting participants on its app every day as of April 21. 

That is tremendous growth from when it first released coronavirus-related users metrics in March, and to put that into context: Zoom only had 10 million daily meeting participants at the end of December.

However, there has been some confusion over Zoom's metrics.

In a recent blog post, Zoom said that it had 300 million daily active users (DAUs)— but then later edited the post to say that the number referred to the number of Zoom meeting participants. The distinction: While the DAU metric measures discrete, individual users, a single person joining five Zoom meetings in a day would count as five meeting participants. 

"In a blog post on April 22, we unintentionally referred to these participants as 'users' and 'people.' When we realized this error, we adjusted the wording to 'participants.' This was a genuine oversight on our part," a Zoom spokesperson said.

The confusion goes back further, though. When Zoom released metrics in March, it used the "daily meeting participant" language as well. The figure was widely reported in outlets including Business Insider as Zoom claiming to have 200 million daily active users, rather than meeting participants. It remains unclear why Zoom never corrected the record. 

Regardless, what is clear is that the numbers do show that usage of Zoom has grown tremendously during the pandemic. For comparison, rival Microsoft Teams said it reached 200 million meeting participants in a single day in April — closing in behind Zoom.

Early on in the crisis, Zoom lifted the 40 minute time limit on its free product for users in China, and made the tool free for K-12 schools in over 20 countries, as many had to rapidly shift to online learning. Its new user base also includes many consumers using it for social activities. 

In order to keep up with the rapid growth, Zoom had to quickly grow its infrastructure by investing in more data centers and cloud computing power.

While that makes it more expensive to run the business, CEO Eric Yuan told Business Insider that both Amazon Web Services and Oracle proactively gave Zoom a discount on more server capacity — so it could scale without breaking the bank.

Oracle was actually a customer before Zoom turned to it for the added capacity it needed to sustain its business. 

Original author: Paayal Zaveri and Skye Gould

The past decade was an eventful one for the startup world.The rise of smartphones, online marketplaces, the sharing economy, and cheap access to the cloud have enabled entirely new business models — some more successful than others.Business Insider spoke with five venture capitalists about the startups that had the biggest impact on the tech world throughout the 2010s. They noted that companies like Theranos and WeWork demonstrated the pitfalls of "founder worship" and the pursuit of growth at all costs.But startups like Dollar Shave Club and Warby Parker stand out as companies that have successfully built direct relationships with consumers.Stitch Fix and Rent The Runway are showing investors the promise of women-led ventures in an industry that grossly lacks diversity, while Shopify and Atlassian have proven that markets outside of Silicon Valley are taking off.Visit Business Insider's homepage for more stories. 

The 2010s were a wild ride for startups and the investors who pumped money into them.

As the decade kicked off, smartphones were becoming ubiquitous, connecting billions of people to the internet — many for the first time — and paving the way for a wave of innovative business models.

Online marketplaces and sharing economy platforms — Amazon, Facebook, Uber, Airbnb, and many more — demonstrated the power of network effects, and in doing so, completely changed how people and businesses interact with each other.

Companies seized on the stream of constant, real-time, location-based, and personalized data that consumers volunteered via a growing list of smart devices to provide them with faster and more convenient services.

Entrepreneurs had the wind at their backs, thanks to a flood of venture money and access to technical infrastructure —  Amazon Web Services — meaning they could spin up and scale up their startups like never before. Unicorns seemed to appear everywhere, and tech IPOs had investors excited.

But the tides began to turn in the second half of the decade as a flood of scandals chipped away at the idea that tech companies — and tech founders — are inherently good. Public investors became skeptical of the premium price attached to some tech companies, and the batch that went public in 2019 had a rough go of things.

Four months into 2020, the unprecedented coronavirus pandemic has rocked the global economy and startup world, leading to at least 30,000 layoffs at venture-backed companies and even impacting unicorn tech darlings like Uber, Lyft, Airbnb, and Peloton as funding and sales have dried up. 

After speaking with five venture capitalists about how things have evolved since 2010, some clear lessons emerged — as well as some clear examples of those lessons. While it would be impossible to include every important startup, below are the companies that investors said have had the most impact on their industry in the past 10 years.

Original author: Tyler Sonnemaker

IBIS estimates that the global auto industry generates $4 trillion in annual revenue.The industry employs almost 5.7 million people.From dealerships to automakers to repair shops, high-earning jobs abound. We found seven careers that could lead to $100,000-and-above annual payouts.These careers are also well-poised to benefit from a post-coronavirus rebound.Visit Business Insider's homepage for more stories.

The global auto industry is, to be quite blunt, huge.

It generates trillions in annual revenue and keeps millions employed. 

The pay can also be pretty good. A unionized hourly worker at vehicle assembly plant in the US can bring home a mid-five-figure yearly total, and with seniority and overtime, get close to $100,000.

If you survey the entire industry, which supports everything from engineering to banking to insurance, you could easily find numerous six-figure salaries.

At the moment, with automakers enduring massive manufacturing shutdowns and undertaking layoffs to deal with the coronavirus pandemic, employment in the industry is in limbo. But demand for cars isn't likely to vanish, so these careers remain good bets.

Here's a sampling:

Original author: Matthew DeBord

Zoom faces new competition from Facebook, which recently released a group video chat product called Messenger Rooms.Zoom has seen its usage skyrocket in the last few months from the enterprise, but also consumers who are using the tool for online classes, happy hours and even weddings. Industry experts say that while Facebook may steal some of Zoom's new consumer users with Messenger Rooms, it likely won't have an impact on the video conferencing company's business and, in fact, may even benefit it. Why? Because it would be hard for Zoom to sustain all its free usage long term.Visit Business Insider's homepage for more stories.

As Zoom's popularity has surged due to the coronavirus pandemic, its competitors have been upping their game: copying features and touting their higher level of privacy and security.

Google, for instance, is making its business video conferencing tool Meet, free for everyone. Facebook also recently announced a new video chatting product called Messenger Rooms, which allows users to create public or private video chat rooms that can hold up to 50 people. While it's not a direct competitor to what Zoom offers, since it's not geared towards the enterprise, it shows that Facebook is thinking about how to win over some people who may be using Zoom for social functions. 

Industry experts say that while Facebook may steal some of Zoom's new consumer users with Messenger Rooms, it likely won't have an impact on the video conferencing company's business and, in fact, may even benefit it. 

Here's what they said:

Losing free users probably won't impact Zoom's business

As shelter-in-place orders force people to stay home, people have used Zoom for online classes, happy hours, and even weddings.

Zoom's pandemic popularity signaled to other tech companies with video capabilities, including Facebook, that people craved larger virtual meetings in the consumer space as well as the business one, Gartner research director Adam Preset told Business Insider.

"Facebook already had video in Messenger, but the need to meet in larger groups in virtual rooms for social activities has been made abundantly clear," Preset told Business Insider.

While some of Zoom's users, free and paid, may decide to use Messenger Rooms for social activities now that it's an option, the majority of its paid customers are organizations and corporations, which aren't going to ditch it for Facebook. 

"I don't think it's gonna be a game changer and I don't think it's going to necessarily disrupt anything that Zoom is doing," Brent Thill, an analyst at Jefferies, told Business Insider. "The reality is, at the end of the day, Facebook is known for their consumer products and not known for their enterprise products." 

Facebook's Messenger Rooms product is more of a threat to consumer apps that don't charge for their services, like Houseparty, which allows users to drop in on friends via a video call, Thill added. 

Here's why losing free users may even help it

Not only will losing free users not hurt Zoom, but it could actually help the company. 

CEO Eric Yuan told Business Insider that Zoom does not currently have plans to monetize its free users or create a consumer business, and Carolina Milanesi, an analyst at Creative Strategies, said she thinks it's impossible for Zoom to sustain all its free usage long term. 

"Zoom cannot sustain not having people pay for their video time," Milanesi told Business Insider. "It's all cloud traffic that somebody's paying for and it's not consumers."

If Zoom doesn't start charging its new consumer users or find some way to monetize them through advertising, then it's spending more money on bandwidth without any benefit. In that way, losing free users to Facebook could actually help Zoom's business and increase it's average revenue per user.  

Zoom's stock price has risen as it's revealed how much more usage its received during the pandemic, but it's still unclear how much Zoom's surge has actually affected its business at this point since it hasn't broken out its number of free versus paid users.

The number of new users Zoom actually has is, itself, a muddled question: The company said in a recent blog post that it had 300 million daily active users but later amended it to 300 million Zoom meeting participants, a different but related metric. 

How the video conferencing landscape has changed 

The coronavirus pandemic may have permanently changed the video conferencing landscape.

What used to be nice-to-have tools have transformed into must-have tools for business users and consumers alike, said Simon Glass, the CEO at Discuss.io, which offers a video conferencing tool for businesses to communicate with customer test groups. The industry as a whole is still in its early stages, he said, and he expects to see a lot more innovation going forward.

Glass also echoed Milanesi's point that, for Zoom, having one tool that's being used for both business and pleasure purposes could hurt it in the long-term. He believes that Facebook's new Messenger product may cause Zoom to think about specializing its tool for specific industries and uses. 

Garner's Preset agrees that trying to appeal to different types of users is smart, and that it may be easier moving forward. 

"Lines have blurred for many people between work and home right now," he said. "If it stays blurry, that makes it easier for tech companies to get buyers on both sides."

Got a tip? Contact this reporter via email at This email address is being protected from spambots. You need JavaScript enabled to view it. or Signal at 925-364-4258. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.

Original author: Paayal Zaveri

Some startups are pivoting their core operations to boost coronavirus relief efforts, or to tap into a new source of revenue as business slows."It's almost like a wartime situation," said Chris Prucha, a startup founder whose company Origin is using its 3D printers to produce nasal swabs.We compiled a list of the startups that are shifting parts of their production in the pandemic's wake.Visit Business Insider's homepage for more stories.

A shoemaker is producing face masks.

A startup that makes phone booths as a quiet refuge in open-plan offices is now making coronavirus-testing booths for healthcare clinics.

And it seems every 3D manufacturer backed by venture cash is firing up the printers to crank out personal protective equipment for healthcare workers.

It's not unusual for a company whose business model isn't working to pivot in search of  more customers, or a steadier stream of cash, or traction in bigger markets. But these days, startups are facing a much different crisis, which no amount of planning or experience could have prepared them for. They must adapt.

"It's almost like a wartime situation," said Chris Prucha, a founder whose startup Origin is using the 3D printers that it's unable to ship to customers to produce nasal swabs for COVID-19 testing.

The coronavirus has been an accelerant for some startups looking to expand, or to create a new source of revenue. And even a temporary pivot can boost the company's public image for aiding in relief efforts.

Semil Shah, a startup investor who focuses on early-stage companies, has been closely watching as startups shift parts of their production away from their core businesses to pursue other opportunities.

Even before the pandemic, he said his advice to entrepreneurs has always been, "if you're not No. 1 or No. 2, you're better off just selling the company or pivoting into something new because you don't really get paid to be third."

Athena Security is a two-year-old startup in the crowded business category of gun detection. It relies on machine learning to spot weapons in video surveillance images, but it can't identify a concealed firearm, as one of its better-funded rivals can. Now, Athena Security has shifted its focus to fever-detection systems.

The technology relies on thermal cameras and software to pinpoint a person running a fever, which is a symptom of coronavirus infection.

Athena Security's cofounder and chief executive officer Lisa Falzone said the company is rushing to fill orders at hospitals, banks, and other places where large numbers of people mill about. She said it's not hard to imagine that, someday, stores and restaurants will use the company's health surveillance system to help persuade house-bound customers to return.

She said if a customer asks a restaurant host, "Why should I come in here with a lot of people?" the host could say, "We wash our hands down more often. We clean the tables down. And also we have fever-detection system."

For some startups, the shift is more of a passing response to the pandemic than a permanent project.

Carbon, a unicorn startup that develops 3D printing technology, has dedicated all of the machines at its Silicon Valley headquarters to producing face shields that protect doctors and nurses taking care of COVID-19 patients. The company is providing them to healthcare systems for free, with assistance from Adidas, a Carbon customer, said Ellen Kullman, chief executive officer of Carbon.

"As long as the need for these supplies exists, we will continue production to help," Kullman said in an email.

We wanted to find the startups that are changing what they work on because of the pandemic. We asked Shah's institutional seed-stage fund, Haystack, for tips, and researched on our own.

These are the coolest pivots in tech since the start of the pandemic:

Original author: Melia Russell and Bani Sapra

The midsize pickup-truck segment had for some time been left to the popular Toyota Tacoma and the ancient Nissan Frontier. But about five years ago, automakers decided to liven it up. Chevy brought back its Colorado pickup (as well as a GMC version, the Canyon). Then Honda revamped its Ridgeline, and Ford reintroduced the Ranger.

Jeep has done a small pickup in the past, so when it announced that it would restore the Gladiator nameplate to an all-new truck, there was much rejoicing.

The pickup arrived last year, and I recently tested it. The upshot was that it gives the off-road-focused Chevy Colorado Bison ZR1 a run for its money.

The Gladiator Rubicon, with its stout 4x4 setup and premium extras, is perhaps the full-featured midsize pickup money can buy.

Here's why:

Original author: Matthew DeBord

A group led by a Seattle-based venture capital firm put together a guide to returning employees to offices during the pandemic, using tips from companies like Microsoft and Amazon.The guide included step-by-step tips for planning the return and preparing the office and employees.It also included resources like where to buy personal protective equipment for employees without cutting into medical worker supplies.Visit Business Insider's homepage for more stories.

Microsoft has a team of 55 people managing the company's pandemic response and eventual return to campus, Katie Drucker, head of business development for Seattle Venture Capital firm Madrona Venture Group, told Business Insider.

Smaller companies don't have the same resources, so a group led by Seattle-based venture capital firm Madrona Venture Group compiled a guide to help them by surveying large employers like Microsoft, Amazon, Starbucks, and Costco.

The result is a "toolkit for reopening the office and getting back to work" and it includes a step-by-step guide for planning your company's return to the office. It includes specific resources such as where to buy personal protective equipment for employees without depleting supplies for medical workers.

"Truly, when the rubber hits the road, what do you have to do if you're not a company like Microsoft?" Drucker said. "We literally have everything in front of you that you need."

It's unclear when businesses that have moved their employees to remote work will return to offices. Microsoft, for example, has asked employees to stay home indefinitely and Amazon recently extended its work-from-home guidance for corporate until October. As the back-to-work guide notes, it's unlikely that companies will be able to return to offices without implementing significant new employee safety measures to deter the spread of COVID-19 until a vaccine is available.

Here are some of the tips included in guide:

Planning the return

Create a response team– which could include company executives, representatives from legal, HR, and facilities teams, landlords, and contractors — who can meet daily to set policies and plan for the reopening.Employers should seek key data sources such as the CDC and WHO and defer to the most restrictive guidance.Classify essential and non-essential workers by role or geography, and find out if any employees are in high-risk categories. Decide what percentage of employees should return to work, and at what intervals. Working from home, when feasible, is always the best option.

Preparing the workspace

Employers should consider providing personal protective equipment to all on-site employees, which could include re-useable masks, hand sanitizer and antiseptic hand wipes, infrared thermometers and gloves.In the office, employers should limit or close communal areas, such as shutting down food service areas and gyms, and start "robust cleaning procedures."Employers should restrict group sizes to less than five or 10 people and eliminate or limit visitors. Consider restricting travel, and self-quarantine employees who travel to higher risk areas for 14 days after return. Consider tracking meeting times, dates and attendees and storing the information for 28 days.Help employees with physical distancing through measures such as floor marking, physical barriers such as plexiglass for IT teams, and remove extra seats. "Consider having employees use an app or bracelet that indicates when they have been closer than 6 feet," the report suggests. 

Preparing the employees

Provide training on topics like how to spot and self-report COVID-19 symptoms, how to take care of personal protective equipment, and physical distancing. Trainings can happen through live-webinars, video series, or one-on-one meetings.Consider anonymous surveys to allow employees to offer honest feedback on if they are ready to go back to a physical work environment, and continue surveying employees once they've returned. Provide at least weekly COVID response team updates.Communicate processes and expectations for returning to work, such as changes to work flexibility or benefit policies and workplace guidelines. 

Original author: Ashley Stewart

The looming cash crunch is coming to startups. Yes, even the subscription-based enterprise startups many investors have claimed are immune to such concerns.

That's Keith Rabois' theory, at least. In a Talkshow conversation with Haystack VC founder and general partner Semil Shah on April 22, the Founders Fund general partner and well-known contrarian walked listeners through his predictions for the startup ecosystem in the looming downturn. It wasn't exactly the rosy outlook many other investors have clung to.

The startups that are particularly at risk, according to Rabois, are those that rely on healthy margins for per-unit sales. For example, an enterprise business that has relatively low fixed costs but is able to charge its customers on a per-person basis to use its software qualifies as one with a healthy contribution margin. These companies, one of which Rabois identifies as Airbnb, haven't had to operate as efficiently as they could, and are less prepared to acclimate swiftly.

"The stellar companies that have been highflyers are going to suffer," Rabois said. "Not all of them will, like the DoorDashes of the world are growing faster in today's world than before, but more high-profile companies will have at least blips, if not fundamental issues to confront."

In the past, investors have gravitated towards businesses that have the high margins. But now, those metrics might seem to be a less perfect measure of the health of the business, according to Rabois.

These types of businesses are typically considered reliable revenue earners, and they become successful long-term investments if they continue to operate in that way. But according to Rabois, many startups that would otherwise have those margins have chipped away at them with the enormous fixed costs associated with operating in Silicon Valley. Between headcount, real estate, and marketing expenses, the margins have been trending downward for the last decade. 

"Most of these issues were simmering below the radar for at least the last year," Rabois said.  "There's a correction going on underneath the hood in many of these companies completely independent of a virus. The virus just put a spotlight on it and to some extent convinced some nonbelievers."

The biggest offender was the reliance on growth, or the appearance of growth, over fundamentally sound unit economics, Rabois said. That led to a valuation inflation, which is starting to track back down to historical levels. 

However, not all the troubles that companies will face are due to those latent fault lines in the startup ecosystem, Rabois said. For some, the pandemic can be seen as a root cause.

"There are a few companies where, oh my god the business was amazing before the virus, and the effect of government policy and the virus may have created a fundamental shift in even temporary or permanent attractiveness of the business," Rabois said.

That's the kind of perspective Shah said he was hoping to get from Rabois during the live discussion, due to his relative prominence and permanence in the startup ecosystem. Shah told Business Insider that, as an early-stage investor, he was personally interested in, and figured others would want to learn from, an industry veteran like Rabois.

"A lot of people like me, we sort of know what happened in the Great Financial Crisis or dot-com bust, but we didn't live it," Shah told Business Insider. "We need to hear the stories and perspectives of the people who did live it, because it seems like a completely different kettle of fish."

Original author: Megan Hernbroth

NASA's is preparing to launch astronauts from American soil, with an American rocket and spaceship, for the first time in nearly a decade.SpaceX plans to launch the astronauts, Bob Behnken and Doug Hurley, on May 27 through a Commercial Crew Program mission called Demo-2.Gwynne Shotwell, the president and COO of SpaceX, told Business Insider the company has "grown up" enough to handle the task by learning from its failures throughout its 18-year history."I will start sleeping again when they when they're back safely on the planet," Shotwell said of the two veteran astronauts, whom she called "badass" pilots and dads.Visit Business Insider's homepage for more stories.

SpaceX, for the first time in the company's 18-year history, is poised to rocket humans into space.

But the company wouldn't have grown enough to be ready for the feat if not for its many failures, Gwynne Shotwell, president and chief operating officer, said Friday during a series of NASA press briefings.

"We've grown up," Shotwell told Business Insider. "It was a little Wild West early on, but candidly I think that those beginnings and those roots are critically important to our success."

The company joined pre-mission briefings to answer questions about Demo-2, SpaceX's upcoming mission to launch NASA astronauts Bob Behnken and Doug Hurley toward the International Space Station (ISS). The flight will be SpaceX's first with passengers, who will pilot the company's new Crew Dragon spaceship after launching atop a 23-story Falcon 9 rocket.

Demo-2 is currently planned for May 27 at 4:32 p.m. ET. On Friday, NASA officials said the backup launch day is May 30, and that the astronaut's stay at the ISS may last for more than six months.

Shotwell joined the first virtual press conference with NASA administrator Jim Bridenstine and top members of the Commercial Crew Program Friday. The roughly $8 billion public-private partnership began in 2010 to eventually replace NASA's space shuttle fleet, which was retired in July 2011. SpaceX won its first contract through the program in September 2014, though the company has officially worked with NASA since 2006.

"Hopefully, NASA has enjoyed the relationship as much as we have. We've learned from them. We've obviously been pleased by their financial support, their technical support, wisdom, and knowledge and helping us get to this day," Shotwell told Ars Technica's Eric Berger during the briefing. 

Shotwell said she joined SpaceX in 2002 as its chief salesperson, and always worked to keep a close relationship with NASA.

"I knew when I joined the team that NASA wanted to build a space transportation system that was reliable enough and low-cost enough for people to be able to go to other planets. That sounded very kind of outer-worldly to me at that time in 2002," she said. "But I certainly understood that if we were to achieve that, we would certainly do that hand-in-hand with NASA. So I've seen this company grow from roughly 10 employees to the thousands that we have now."

Yet along with that growth, Shotwell added, came a lot of failures, which the company has seen its fair share of primarily during tests but also operational missions.

'The aerospace industry shies away from failure'

A SpaceX Falcon 9 rocket with the company’s Crew Dragon attached, rolls out of the company’s hangar at NASA Kennedy Space Center’s Launch Complex 39A on January 3, 2019. SpaceX

In 2015, SpaceX's seventh space-station cargo resupply mission for NASA disintegrated late in its launch. The company also lost a commercial telecommunications satellite to a flawed pressure tank design when a Falcon 9 exploded during a launchpad test in September 2016.

Over the past two years, SpaceX also saw parachute issues and an explosive escape engine test on the ground, problems which both the company and NASA say they've resolved and closed.

"Even today, when we're talking about flying people and flying other precious cargo as well, you have to learn those hard lessons," Shotwell said. "I think sometimes the aerospace industry shies away from failure in the development phase. It looks bad, politically. It's tough, and the media certainly makes a lot out of failures."

But, she added, "the best way to learn is to push your systems to their limit, which includes your people, systems, and your processes, and learn where you're weak and make things better."

Kathy Lueders, who manages the Commercial Crew Program for NASA, said such lessons have not only been transferred from SpaceX but also learned in partnership with the company — and through disagreements with it.

"The best way to learn technically is to have a healthy tension and dynamic and be able to have to defend technical positions. And SpaceX makes us defend technical positions, as we make SpaceX technical positions," Lueders said. "What that does is creates a body of work that I think we, as an agency, have really been able to build and I can tell you are building on [for] our future programs. So I think this has been a great relationship for the both of us over the last 13 years."

'I will start sleeping again when they when they're back safely on the planet'

Gwynne Shotwell, the president and chief operating officer, says during a briefing on May 1, 2020, that her "heart will be up to here" until NASA's Demo-2 mission astronauts are back on Earth. NASA TV Personally, Shotwell said, she will not rest until Behnken and Hurley safely complete their mission.

"My heart is sitting right here, and I think it's going to stay there until we get Bob and Doug safely back from the International Space Station," She said, holding her finger up to her throat. "But between now and then, there's still work to do. I've got thousands of SpaceX employees who are focused on this mission."

Shotwell described Behnken and Hurley as "badass" test pilots and astronauts, but also dads and people. She noted that SpaceX employees put photos of the crew on electronic work orders for Crew Dragon to keep the stakes of their task front-and-center.

"I will start sleeping again when they when they're back safely on the planet," Shotwell told Marcia Dunn of the Associated Press. "I don't think I need to remind my employees how important this is. They remind themselves, and they are helpful in reminding me."

Behnken said during another press briefing that SpaceX's agility has impressed him most about Crew Dragon's development. He also indicated that the ability to work quickly gives him more confidence going into his historic flight — the first debut of a new human-rated spaceship since 1981.

"Doug and I flew on shuttle missions separated by a couple of years," Behnken told Business Insider on Friday. "We [didn't] get, probably, the same level of change that we can get in a month from the SpaceX team during the couple of years that was between our shuttle flights."

He added: "I hope I don't have to see it: That agility in response to an issue during our mission. But we've seen it during the development process, and I know they could execute it if we needed them to while we are in orbit."

Original author: Dave Mosher

IBM had expected to slow down its M&A since buying Red Hat last year for $34 billion. But new CEO Arvind Krishna said on his first earnings call last month that the company plans to resume its "acquisitive strategy" in several months. He's focused on boosting IBM's position in AI and hybrid cloud, he said. Here are 9 companies experts say IBM could seek to buy, including Snowflake, Automation Anywhere, and Datarobot. Click here for more BI Prime stories.

IBM is known as one of the most acquisitive companies in the world. But the tech giant was expected to go slow on the M&A front after buying Red Hat for $34 billion last year, the biggest acquisition in IBM's history.

"We've focused all of our M&A effort on Red Hat in the last 18 months," IBM senior executive Rob Thomas told Business Insider in February when the company unveiled a new AI imitative. "$34 billion consumes a lot of time and energy."

Shortly after the interview, the coronavirus crisis pandemic led to global economic downturn. Suddenly, the tech landscape has changed. The economic slump has disrupted the sector, crushing valuations to the point that experts expect a rash of M&A activity.

In fact, when IBM reported first quarter results last week, new CEO Arvind Krishna indicated that Big Blue was prepared to begin buying again.

"You should expect that over time — over time meaning just that as it gets past the next few months — we will get back to an acquisitive strategy," he told analysts on the company's first quarter earnings call. "We've been clear that we will acquire when we find properties that are both attractive or that fit our strategy and hybrid cloud and AI are the focus of our business going forward."

With that in mind, here are 9 companies that experts say IBM could try to buy:

Original author: Benjamin Pimentel

Every week, Parrot Analytics provides Business Insider with a list of the nine most in-demand original TV shows on streaming services in the US.This week includes newcomers to the list: Hulu's "Little Fires Everywhere" and Apple TV Plus' "Defending Jacob."Visit Business Insider's homepage for more stories.

Disney Plus' "Star Wars: The Clone Wars" dethroned "Tiger King" as the most in-demand TV series in the US this week. Meanwhile, Hulu's "Little Fires Everywhere" has gained momentum with audiences after its finale last week. 

Every week, Parrot Analytics provides Business Insider with a list of the nine most in-demand TV shows on streaming services in the US.

The data is based on "demand expressions," Parrot Analytics' globally standardized TV-demand measurement unit. Audience demand reflects the desire, engagement, and viewership weighted by importance, so a stream or a download is a higher expression of demand than a "like" or a comment on social media, for instance.

There was also a rare Apple TV Plus sighting on this week's list with the Chris Evans-starring "Defending Jacob."

Below are this week's nine most popular original shows on Netflix and other streaming services:

Original author: Travis Clark

In recent years, flexible-workspace firms grew dramatically in New York, amassing a nearly 20-million-square-foot portfolio of space that could now result in vacancies.Flexible-space firms have had layoffs, sought to restructure and terminate leases, and face an uncertain future as a result of the coronavirus pandemic.That could prompt millions of square feet to be cast off into the office market at a time when tenants are already pulling back because of an expected recession touched off by the lockdown.In the last recession, office vacancies surged and rents plummeted over 30% - a scenario some market observers worry could again unfold, this time with the help of floundering flex-space firms.   Still, some experts believe the current crisis could actually help workspace firms as tenants gravitate to short-term, flexible deals.Click here for more BI Prime stories.

To dominate the flexible-workspace industry, WeWork snapped up over 9 million square feet of space in New York City in recent years, vaulting past tech giants, big banks, and white-shoe law firms to become the city's single largest office occupier.

Once the lynchpin of the brand's effort to become a $50 billion public company, that sprawling footprint is now a growing cause of concern among real-estate executives.

WeWork and its peers in the fast-growing flexible workspace sector have slashed their workforces, entered into talks to renegotiate or exit leases, and are bracing for an uncertain future in a post-coronavirus world. The tumult in the sector could cast millions of square feet onto the market at a time when tenant appetite for new space has been diminished by the crisis and the economic damage the pandemic has inflicted on commerce.

Altogether, flexible-workspace firms occupy about 18 million square feet in the city, according to data from the real-estate brokerage and services firm Newmark Knight Frank, a block of space equivalent in size to about six Empire State Buildings.

That square footage accounts for roughly 4% of the office market's inventory of space in Manhattan, according to Newmark. While that may not like sound like much, office experts say vacancy increases of just a few percentage points can send office rents tumbling and trigger a downturn in the market.

What happens to NYC real estate in a recession 

If flexible workspace firms begin casting off space, it could become a compounding factor in a wave of availabilities that many experts anticipate will result from an expected recession touched off by the crisis — which may prompt tenants across the city to shed space or put offices they occupy up for sublease.

"If we were just talking pre-Covid, I would say that the impact of coworking vacancies on the market would be huge," said Jeffrey Peck, a vice chairman at the real-estate services firm Savills. "Post-Covid, it could be percentage points on top of what we already believe is going to be an even bigger number."

The workspace sector's ongoing problems were on display this week, with WeWork initiating another round of layoffs to cut costs. The virus crisis has raised questions about the viability of flexible-workspace firms, whose clients generally occupy spaces on short-term contracts they may seek to now cancel because of the upheaval.

Another industry player, Knotel, which has about 2.5 million square feet in the city, has stated it will slash its portfolio of space by 20% and has laid off workers.

"What we're hearing is that every major coworking firm is approaching their landlords to evaluate their remaining obligation and either reduce their rent or negotiate a termination," said Jared Horowitz, a vice chairman at Newmark. "The business model can't survive right now. These are firms that leased space at the tippy top of the market and how do you convince tenants to pay a premium on top of those rents when the market is falling now? It's a huge challenge."

Read More: Airbnb and RXR Realty are scrapping a partnership at Rockefeller Center that the home-sharing giant's CEO touted as a '21st-century hospitality model'

The availability rate in Manhattan, a calculation that includes present vacancy and spaces that are expected to become empty in the coming months, was 11.8% at the end of the first quarter, according to Newmark data. Average asking rents were a record $81.71 per square foot, the firm reported, a factor of both years of solid leasing that have absorbed space and newly built spaces in markets such as Hudson Yards that are more expensive than existing office space and whose entry to the market pushes average prices up.

During the last recession, average office asking rents in Manhattan fell from just over $70 per square foot to about $48 per square foot in the trough of the downturn in 2010, a decline of about 33%.

WeWork has been vague about what steps it is taking to rightsize its portfolio and hasn't named specific locations where it is seeking rent reductions or to potentially exit space.

"As part of our plan to seek profitable growth, we are conducting an in-depth review of operations and assets globally in order to rightsize the business and optimize our real estate portfolio," a WeWork spokeswoman, Nicole Sizemore, said in a statement. "As we work through this process, we are working with industry partners where appropriate."

Read More: Mandatory temperature-taking is largely seen as a critical way to return workers to offices. But some big NYC landlords are worried about its effectiveness.

WeWork and rivals helped tighten the market 

WeWork and its peers played a large role in pushing up the office market in recent years.

"They helped tighten the market," Savills executive Jeffrey Peck said. "If you were with a tenant looking for 100,000 square feet, you knew you had a coworking company behind you that was willing to bid up pricing for the space and compete. Not having that alone now has hurt landlords."

Flexible-workspace firms also often vacuumed up spaces that landlords had difficulty leasing.

"They would take lower floors in a building with less light and views and they were sucking up a lot of the hard-to-use spaces," Peck said. "If these spaces are handed back to landlords they are especially problematic to refill."

Some observers forecast that the aftereffects of the pandemic could actually bolster flexible workspace firms, rather than unravel them. Uncertain of how office space occupancy may have to evolve as a result of the crisis, tenants may opt to take short term, flexible deals with workspace providers rather than commit to longer term conventional leases for the time being.

"You might actually want to take some coworking space right now because of this crisis," said Mary Ann Tighe, the New York area CEO of CBRE. "I would not for one minute want to make a long-term commitment until we have had time to absorb what's going on and what the implications will be."

Have a tip? Contact Daniel Geiger at This email address is being protected from spambots. You need JavaScript enabled to view it. or via encrypted messaging app Signal at +1 (646) 352-2884, or Twitter DM at @dangeiger79.

Original author: Daniel Geiger

Six current and former Tesla sales employees told Business Insider the advice they would give someone applying to work at the electric-car maker.They said to project positive personality traits and do research on the company and its CEO, Elon Musk.Tesla did not respond to a request for comment on this story.Are you a current or former Tesla employee? Do you have an opinion about what it's like to work there? Contact this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it.. You can also reach out on Signal at 646-768-4712 or email this reporter's encrypted address at This email address is being protected from spambots. You need JavaScript enabled to view it..Visit Business Insider's homepage for more stories.

Applying for a job at Tesla is a competitive process. The electric-car maker said in 2018 that it had received almost 500,000 applications for around 2,500 open positions in the past year, and last year, Tesla ranked 16th on LinkedIn's list of the companies people most want to work for.

Despite the company's decision to furlough many of its salespeople in response to the disruptions caused by the spread of the novel coronavirus, Tesla is still hiring salespeople in the US.

Six current and former sales employees told Business Insider their advice on how to maximize your chances of getting a job in Tesla's sales division. Each of the current and former employees asked for anonymity due to a fear of reprisal from Tesla, but their identities are known for Business Insider.

Tesla did not respond to a request for comment.

Are you a current or former Tesla employee? Do you have an opinion about what it's like to work there? Contact this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it.. You can also reach out on Signal at 646-768-4712 or email this reporter's encrypted address at This email address is being protected from spambots. You need JavaScript enabled to view it..

Original author: Mark Matousek