Disney and Marvel Studios are used to winning the weekend box office when releasing its titles, but over the past few days its latest movie has performed like no other.

"Avengers: Endgame," the close of the Infinity Saga — which focused on the formation of The Avengers and their battle with Thanos for the Infinity Stones — took in an estimated $350 million over the weekend and a global total of $1.2 billion, making it the biggest opening weekend of all time.

It's a figure that completely destroyed the record held by the previous film in the franchise, "Avengers: Infinity War" ($257.6 million) and is the first movie ever to cross $300 million domestically its opening weekend.

The weekend take is even more incredible seeing that "Endgame" has a three hour running time, which major studios try to stay clear from as it means a lower number of daily movie showings at theaters. But the outcome shows how high a demand the movie was for audiences, as its performance completely changed how the industry operated to satisfy moviegoers.

Preparing for the onslaught

It goes all the way back to presales for "Endgame," which were so high that it crippled the servers of many movie theater websites and led to Fandango, the leader in online movie tickets, to create an online "waiting room" (the first time ever attempted by the site) to handle the onslaught of ticket purchases. It resulted in the best-selling day in the history for Fandango; also Atom Tickets and other theater sites that could keep up with the demand to set records in business.

Then, leading up to this weekend, along with Disney set to put "Endgame" on over 4,600 screens (the most ever), AMC Theatres, the world's largest theater chain, announced that in the US it would open many of its theaters for 24 hours over the weekend. The chain also reported that it would play the movie a record-breaking 58,000 times this weekend — 10,000 more than the previous record held by "Infinity War." (Over the weekend, AMC upped that figure to over 63,000 showtimes, leading to the chain having record-breaking attendance on Saturday of 2.6 million guests.)

But the craze for "Endgame" wasn't just felt in the States. Audiences internationally couldn't wait for the movie to open. In China, the second-largest movie market, "Endgame" took in over $107 million its opening day in the Middle Kingdom. That's the best single-day performance ever for a Hollywood release in China. (The movie also had the biggest 3D opening of all-time, with 45% of the movie's global tally generated from 3D ticket sales.)

Robert Downey Jr. in "Avengers: Endgame." Disney "We're in the Endgame now"

Back in the US, "Endgame" gave a glimpse at what was in store for the weekend by taking in a record-breaking $60 million in Thursday preview showings, crushing previous record-holder "Star Wars: The Force Awakens" ($57 million). The movie followed that with a $156.7 million Friday (counting Thursday previews), the biggest single-day performance for a movie ever (passing $119 million by "Force Awakens").

On Saturday, the movie brought in $109 million, another record beating the $82.1 million by "Infinity War" for the best second-day opening. And if you take away the Thursday preview figure "Endgame" had, the movie performed better on Saturday than it did its opening night.

Though earlier in the week there was doubt by some in the industry that "Endgame," with a three hour run time, could hit the rarified air of a $300 million opening, it turned out the movie hit the mark and powered through, coming in with an estimated $350 million. It's a figure that's over $92 million more than the $257.6 million last year by "Infinity War," the previous record holder.

And here's another way to put the weekend "Endgame" had in perspective: the movie took in more domestically than the best weekend even for the industry in North America, which was the $314 million take last summer, the weekend "Infinity War" opened.

Internationally, the movie took in over $850 million, the biggest opening weekend ever. And in China it brought in $330.5 million, giving the movie a $1.2 billion global total. Another record.

The 2019 box office now looks brighter

"Endgame" didn't just help business for movie ticket sites and theaters but also IMAX, which had a record-breaking weekend.

The movie was shot on IMAX cameras, so many fans wanted to see the movie on the large-format screen. By Friday, the movie had already broken IMAX's record for best weekend ever with a global $52.1 million take (the previous record was held by "The Force Awakens" with $47.6 million). By the end of the weekend, it took in $91.5 million.

That's just one example of how the historic performance by "Endgame" has pushed the struggling 2019 box office on the right track.

The first quarter at the domestic box office was down over 16% compared to last year, but "Endgame" has single-handedly improved things, which can only get better with a strong slate of titles coming this summer and the final movie in the "Star Wars" Skywalker saga, "The Rise of Skywalker," coming at the end of the year.

Read more: "Avengers: Endgame" is a mix of a heist movie and revenge tale that is even better than "Infinity War"

The fact is that the current box office era lives and dies on the performance of Disney releases. Before this weekend, it was "Captain Marvel" that was the top earner at the box office in 2019 and going forward, along with "Star Wars," its movies like "The Lion King," "Toy Story 4," and "Frozen II" that are going to motivate huge audiences to the multiplex.

But the performance by "Endgame" is astounding. With the movie's reported $356 million production budget (not counting the hundreds of millions in advertising), by the time official numbers come in on Monday Disney/Marvel Studios could already have broken even on the movie. It's a feat that is mind boggling for a big Hollywood blockbuster. Industry folks were astonished when "Infinity War" only needed 10 days to get in the black.

Paramount Pictures

Uber drivers are set to receive up to $40,000 as a "driver appreciation reward" ahead of the ride-hailing giant's initial public offering.

The company announced in a Securities and Exchange Commission filing published on Friday that it expected to pay about $300 million to more than 1.1 million drivers worldwide on or around Saturday.

"To acknowledge drivers who have participated in our success, we are paying a one-time cash driver appreciation reward to qualifying drivers in jurisdictions where we operate through owned operations," Uber said in the filing.

Uber said eligible US drivers would receive one of six cash rewards based on the number of Uber trips they've completed: $100 for making at least 2,500 trips, $500 for at least 5,000 trips, $1,000 for at least 10,000 trips, $10,000 for at least 20,000 trips, $20,000 for at least 30,000 trips, and the largest, $40,000, for at least 40,000 trips.

To qualify for the reward, drivers must have completed at least 2,500 trips, including one this year, as of April 7, and have an account in good standing. Uber said payouts to non-US drivers would be adjusted to reflect different average hourly earnings across regions.

Uber is also giving its drivers a chance to buy its stock before the general public, saying it had reserved 5.4 million shares for drivers through a directed-share program. Drivers who qualify for the driver-appreciation reward will be able to buy those shares at the IPO price, which Uber expects to be between $44 and $50.

Average demand expressions: 28,963,977

Description: "DOOM PATROL reimagines one of DC's most beloved groups of Super Heroes: Robotman aka Cliff Steele (BRENDAN FRASER), Negative Man aka Larry Trainor (MATT BOMER), Elasti-Woman aka Rita Farr (APRIL BOWLBY) and Crazy Jane (DIANE GUERRERO), led by modern-day mad scientist Niles Caulder aka The Chief (TIMOTHY DALTON). Each member of the Doom Patrol suffered a horrible accident that gave them superhuman abilities, but also left them scarred and disfigured. Traumatized and downtrodden, the team found their purpose through The Chief, coming together to investigate the weirdest phenomena in existence. Following the mysterious disappearance of The Chief these reluctant heroes will find themselves in a place they never expected to be, called to action by none other than Cyborg (JOIVAN WADE), who comes to them with a mission hard to refuse. Part support group, part Super Hero team, the Doom Patrol is a band of superpowered freaks who fight for a world that wants nothing to do with them."

Rotten Tomatoes critic score (Season 1): 94%

What critics said: "Doom Patrol is, somehow, pretty fun." — Eric Thurm, Polygon

Season 2 premiered on DC Universe February 15.

When social shopping app Depop was founded in Milan in 2011, the median Gen Z shopper, currently 17, would have been just nine years old.

But as these kids have grown up in the past eight years, Depop has also, learning from this generation and creating a platform that's perfectly in line with their shopping habits.

Depop is a social marketplace that offers users an easy way to buy and sell an array of items — from vintage clothing and limited-edition sneakers or sunglasses to books and concert tickets — via its app. It has been described as a mix between eBay and Instagram and would count sites such as ThredUp and Poshmark as its competitors.

The ease at which you can set up shop on the app, list new items, and engage with your community from a smartphone quickly made it a hit with young shoppers.

So far, it has amassed 13 million customers in 147 countries, hired 150 full-time staff, and raised $43.6 million in funding, according to the company. Throughout its rapid growth, Depop has kept its sights firmly fixed on its core customer: Gen Z.

"This company is for the next generation," Rachel Swidenbank, vice president of Marketplace at Depop, said in conversation with Business Insider.

Swidenbank said that 90% of Depop's users are under the age of 26. The company's mission is to empower these shoppers to disrupt the fashion industry and give them the chance to become entrepreneurs.

In the right place at the right time

Judging by industry research on Gen Z, it's a smart move for Depop to go after this generation. Experts say Gen Z is not only more cost-conscious than previous generations were at that age, but also more sustainability-minded and entrepreneurial. This makes Depop an almost perfect fit for them. Swidenbank agreed that the company has been in the right place at the right time.

Take fashion, for example. Depop gives these shoppers the chance to search for items from hundreds of thousands of sellers, which are often secondhand or upcycled and generally cheap. This feeds the thirst for newness that previously would have sent consumers into the arms of fast-fashion retailers (a notoriously polluting industry), but in this case, allows them to be more sustainability-conscious.

Then, they also have the chance to sell their own items, which not only gives these clothes a second life but also enables them to make money from it.

"It fulfills both habits," Swidenbank said.

And it turns out that flipping vintage clothes and sneakers can also be an extremely lucrative business. According to Swidenbank, some Depop sellers can pull in as much as $300,000 a year on the app and have been able to buy houses and cars before they've even reached college age. Depop takes a cut of this, making 10% on each transaction.

This generation is kicking the stigma around buying secondhand clothes. Online resale site ThredUp recently estimated that one in three Gen Z consumers will buy used clothing in 2019.

"They want to flip their wardrobe, but they want to do that without doing damage to the environment," Karen Clark, vice president of marketing communications at ThredUp, recently told Business Insider.

Plus, this style of shopping also enables these shoppers to dress in more unique ways, Swidenbank said.

"Young people class cool as being unique," she said.

This is bringing about a major shift in the fashion industry and could put fast-fashion stores at risk in the future. Some are looking at ways to get involved; H&M has been doubling down on sustainable collections of clothing in recent years.

It's not just fast-fashion stores that should be concerned. Swidenbank said these shoppers also have a different approach to shopping with household names.

"With millennials you could see brand loyalty in shopping behaviors. Now I feel we see more self-expression," she said.

"If you look at how [Depop sellers] build their following on their shops it's all about styling themselves, it's not about this product or this brand. You really see self-expression trumping brands and brand loyalty."

A treasure trove of data

In the future, Depop could become a valuable resource for predicting trends in fashion.

Swidenbank said that her team is increasingly noticing that the Depop shopping community is identifying trends two to three months before they hit mainstream fashion. Depop currently shares this data with its sellers so they can better identify what users want and bolster their inventory, she said.

But Depop is not averse to sharing this data further afield or partnering with brands.

"We have access to millions of young people in the UK and US and what they are searching for and what they want," she said. "A lot of people want to know what Gen Z is up to at the moment, what they are thinking, and what they are searching for so it is definitely something that a lot of brands would love to get their hands on."

For years, the idea of a new social network disrupting the existing giants seemed highly unlikely.

But given the intense privacy-scrutiny over incumbents including Facebook, and a growing interest in new technologies like Pokémon Go-style augmented reality (AR), the time seems ripe for some kind of disruption in the space.

One such company is Octi — a social app that allows users to transform the world around them with AR effects and profiles.

"The world is ready for a new platform — something exciting, something that's different than what's out there already," Octi CEO and co-founder Justin Fuisz told Business Insider in a recent interview. "We're finding the market to be very receptive to us."

Octi's official launch is set for June, but a beta version of the app has been available in Apple's App Store since last year.

Despite the positive feedback from users thus far, Fuisz knows his product needs to offer utility beyond just being able to display "dancing hot dogs on a table," as he puts it, in an apparent reference to Snapchat's famed frolicking sausage. Lack of an actual use case has been a common criticism of AR products.

"When you think about AR, you want to think about utility, not just novelty," Fuisz said. "AR really hasn't had its breakout moment yet. We really harp on the idea of giving utility to the user."

Today, Octi only offers the ability to add colorful graphics or gifs to videos, similarly to Snapchat. Upon its official launch, however, Fuisz says users will be able to add buttons to their digital profiles that link to information like songs they're listening to on Spotify, or their Instagram accounts.

The goal is that when someone holds up their phone with the Octi camera open, they won't just see people, they'll see people's Octi profiles with animations and information about them. And that experience, Fuisz said, is "an incredible icebreaker" for people to start conversations in the real world.

The twelve-person Los Angeles-based startup raised a $7.5 million seed round for their idea from notable investors like Snap's former VP of Product Tom Conrad and Adobe's Chief Product Officer, Scott Belsky.

For now, Fuisz says the company is still in the "user growth" stage and that its main source of revenue comes from "fun partnerships that make the product cooler," like its partnership with the NFL Players Association. Over time, like other hopeful entrepreneurs spearheading social products, Fuisz hopes to monetize on the data it can collect.

As for fundraising advice, Fuisz said pitch decks are not a "one-size-fits-all" project. Octi, for instance, is a very visual product and so its original deck included animations, rather than static pages. Fuisz also suggested not putting so much information in the deck that an investor might immediately say, "this isn't for me."

"If your technology and product is truly groundbreaking, your goal as an entrepreneur should really just be to get [the investor] in the room," Fuisz said.

Below is the pitch deck that helped the AR social app Octi raise a $7.5 million seed round:

"Guardians of the Galaxy 3" has had a dramatic journey, and it's not even close to being in theaters.

James Gunn, who directed the first two installments, was fired by Disney in July after offensive tweets from years ago resurfaced, resulting in "Guardians 3," which was originally scheduled to be released next year, being postponed.

Then Warner Bros. hired Gunn to write and direct a "Suicide Squad" sequel in October. Last month, Disney rehired Gunn for "Guardians 3," but he'll finish "The Suicide Squad" first, meaning it will be a few years before we see the Guardians return ("The Suicide Squad" comes to theaters in 2021).

After "Endgame," we know a little bit more about what "Guardians 3" could be about, and it's quite unexpected. Thor relinquishes leadership of the Earth-based "New Asgard" to Valkyrie (the original Asgard was destroyed in "Thor: Ragnarok"), and joins up with the Guardians at the end of the movie, implying Thor actor Chris Hemsworth is not only sticking around the MCU, but could even star in "Guardians 3."

He's one of the original Avengers to come out of "Endgame" unscarred, while other veteran franchise actors like Robert Downey Jr (Iron Man) and Chris Evans (Captain America) are phased out.

During this scene, Star-Lord is looking at a screen with Gamora's face on it and the word "searching." Gamora died in "Avengers: Infinity War," but a Gamora from the past is brought into the present due to some time-travel wizardry. There's a good chance "Guardians 3" will be about this search for Gamora.

For the past five years, I've been aboard the iPhone train.

I switched from Android to iPhone shortly after graduating from college, purchasing a gold iPhone 5S that served me well for about 2.5 years. I later upgraded to an iPhone 6S, and these days I'm using an iPhone X.

Lately, however, I've been experiencing a bit of iPhone fatigue. Sure, there's still a lot to love about iPhones and Apple products as a whole. But sometime last year — perhaps around the time I had a rough experience with the Apple repair process— I started to feel like I was ready to at least look around for a device outside the Apple ecosystem.

I'm lucky enough to try a lot of different devices, and have raved about my love of the Google Pixel 2 and Pixel 3 in the past.

Still, I haven't been able to find "the one" — the device that would make me give up iMessage, FaceTime, the App Store, regular updates, beautiful, high-end design, and the various other iPhone perks I've come to love and depend on.

But for the past few weeks, I've been trying out the Samsung Galaxy S10e, one of several new smartphones Samsung debuted in February. It's not Samsung's flagship device, but rather a smaller, more affordable alternative that loses some features— features that, honestly, aren't that big a deal.

Since I started testing it, I've discovered that the Galaxy S10e is one of just a few Android devices that could convince me it's time to make the switch. Here's why.

Tesla's Model 3 had a difficult birth, but the vehicle is now a success. The company built 63,000 in the first quarter, surpassing what was once considered a respectable yearly output before the Model 3 launched in mid-2016.

The Model 3 has also enabled Tesla to build a commanding, near-monopoly share of the US luxury electric-vehicle market. There's a catch, however: the Model 3 is a sedan, and consumers have shifted decisively away from four-doors.

While BMW, Audi, Mercedes and other premium marques have stuck with their stalwart sedans, they've also been on a tear of introducing crossover SUVs. Meanwhile, Detroit is jettisoning mass-market saloons: Fiat Chrysler Automobiles, Ford, and GM have each moved in this direction over the past two years.

Read more:Tesla just entered uncharted territory

The product trend is structural rather than cyclical; crossovers can deliver fuel-economy and a driving experience that's far more car-like, so consumers are choosing them over sedans for their versatility. In this context, Tesla can expect to sell at least twice as many of its newly unveiled crossover, the Model Y, as it can the Model 3.

Model Y vs. Model 3

The Tesla Model 3. Hollis Johnson/Business Insider

The Model Y should enter mass production in 2020, assuming Tesla can figure out how to build it — and where to build it.

On a conference call with analysts after reporting Q1 earnings last week, CEO Elon Musk said that Tesla had ordered the tooling it needs to manufacture Model Y, but that the company hasn't decided whether to expand its footprint at its California factory or to produce Model Y in Nevada at its battery factory, where the future vehicle's drivetrain will be manufactured.

There are no car factories in Nevada and one car factory in California for a reason: the US automotive supply chain is concentrated in the Midwest and in the South. West of the Mississippi, Tesla is basically the only game in town. Beyond that, Tesla should plan on Model 3 demand tapping out in the US due to the declining popularity of sedans. Whatever available US capacity Tesla has should be devoted to Model Y.

BUT ... what about Model 3? Well, in Q1 Tesla struggled to get the vehicles from California to Europe, contributing to a $700-million loss. Outside the US, there could still be some Model 3 demand to exploit. But any time wasted manufacturing it in the US is time robbed from Model Y.

Tesla could hire somebody to build the Model 3

Magna is the world's largest auto contract manufacturer. Magna

Enter a contract manufacturer. The world's biggest is Magna. This Canadian firm builds vehicles for a variety of big names, including BMW and Mercedes. They have European capabilities, and when I spoke to CEO Don Walker in 2018, he said that Magna could theoretically bolster a carmaker's production in a year to a year and a half, assuming the company was being asked to build a vehicle that had already been designed and engineered.

"We're open to working for any customer," Walker said.

I'm under no illusion that Tesla would actually take my advice. Musk & Co. have had years to contract out manufacturing and have stubbornly avoided that route. The Model Y sounds like it's going to be very much an all-Tesla deal.

And that's fine, because various auto experts have been pointing out for years how bad Tesla is at building cars — and Tesla is still the only successful new US carmaker to emerge in decades. Musk has no shortage of critics, but with Tesla, he's defied odds so massive that they've turned away most aspirants to auto glory since the 1920s.

That said, if Tesla did hire Magna and begin to transition Model 3 to European production, it would be far better positioned to aggressively attack the crossover market before a sales downturn hits the US, probably in late 2020 or early 2021.

It's worth noting that as Tesla starts production on the Model Y, it should also be firing up manufacturing of its Semi and perhaps its new Roadster. I don't think the company has the bandwidth to deal with that many platforms coming through its systems — and I haven't even mentioned Tesla's Shanghai factory, which should be operational by 2021.

The upshot here is obvious: Tesla could use some help. Model Y could be the most important vehicle in its lineup and it deserves 110% of the company's attention. There's no shame in asking for an assist.

Chrysler is one of the iconic brands of American business. Through thick and thin, the Auburn Hills, Michigan-based automaker has endured.

Following a 2014 merger with Italy's Fiat SPA, Fiat Chrysler Automobiles (FCA) is as strong as ever. However, the Chrysler brand within FCA has withered in recent years.

For the 2019 model year, it boasts a lineup consisting of just two models — the 300 sedan and the Pacifica minivan.

The 300 is one of Chrysler's most-enduring nameplates — dating back to the mid-1950s. The "300" branding was resurrected in 1998 after being dormant since the 1970s.

In 2003, Chrysler introduced the incarnation of the 300 sedan with which we are familiar today. The retro-chic full-size luxury sedan remained in production until 2010 when it was replaced with a second generation variant for the 2011 model year.

Read more:We drove an all-new $90,000 Range Rover Velar SUV to see if it has what it takes to challenge Mercedes and BMW. Here's the verdict.

Apart from a facelift in 2015, the second-generation 300 soldiers on for the 2019 model year.

Recently, Business Insider had the chance to spend a week with a 2019 Chrysler 300S AWD clad in an attractive Ocean Blue Metallic paint job.

The base 2019 Chrysler 300 Touring starts at $29,220. The mid-grade Touring L trim opens up at $32,865 while the sporty "S" trim has a $36,395 entry price. The more premium Limited and top-spec "C" trims boast $38,245 and $41,695 price tags, respectively. All-wheel-drive is available on select trim levels as a $2,500 option.

With options included our sport-focused 2019 Chrysler 300S with all-wheel-drive came to an as-tested price of $50,265.

Some of America's buzziest billion-dollar startups are quietly setting off warnings about the risks that Brexit could pose to their businesses and to the broader technology industry.

After years of staying private and growing to ever-inflated valuations thanks to rivers of venture capital funding, startups like transportation firm Uber and work messaging app Slack are finally gearing up to go public. In the process, they are required to release detailed financial information and documentation about their businesses — and nestled among dozens of pages of legalese are warnings about the risks being created by Britain leaving the European Union.

"Exposure to political developments in the United Kingdom, including the outcome of the U.K. referendum on membership in the European Union, could harm us," Slack warns potential investors in its S-1 documents filed on Friday.

The companies call out a laundry list of potential hazards that Brexit could pose — from uncertainty around employment law and issues around financial regulation, to the risk of decreased investment in the UK, that could have knock-on effects for the entire British technology industry.

SEE ALSO: British techies in Silicon Valley are watching Brexit unfold with barely concealed horror

The red flags raised by these startups illustrate the trepidation with which many international companies are viewing the United Kingdom due to ongoing Brexit uncertainty — and the breadth of the hurdles it is creating for them.

After voting to leave the European Union in a referendum in 2016, the UK was originally scheduled to formally exit on March 29. But after being bogged down in protracted negotiations with the European Union about the terms of its exit, while also facing fierce domestic disagreement about the best path forward, Britain has now delayed Brexit until the end of October 2019.

The final form Brexit will take (or even if it will ultimately take place) remains unclear, clouding the British business and political landscape with paralyzing uncertainty.

The concerns are myriad

The different companies raise different concerns about potential implications of Brexit. A key concern raised by Slack is how Britain's final potential deal with the EU will affect its laws on handling user data — a subject of obvious concern to a platform for enterprise messaging.

"Depending on the terms reached regarding any exit from the European Union, or if no such terms are reached, it is possible that there may be adverse practical or operational implications on our business," it warns. "For example, the UK Data Protection Act that substantially implements the GDPR became effective in May 2018. It remains unclear, however, how United Kingdom data protection laws or regulations will develop in the medium to longer term and how data transfers to and from the United Kingdom will be regulated."

File storage service Drobpox, which went public in 2018, also brought up concerns around data protection regulation: "In particular, it is unclear whether the United Kingdom will enact data protection laws or regulations designed to be consistent with the pending EU General Data Protection Regulation and how data transfers to and from the United Kingdom will be regulated." In the year-plus since then, this issue has still not been resolved.

Uber, meanwhile, has an entire shopping list of worries: "Financial laws and regulations (including relating to payment processing), tax and free trade agreements, intellectual property rights, supply chain logistics, environmental, health and safety laws and regulations, immigration laws," and so on.

The companies' warnings, in full

You can read the full relevant sections from the companies' risk factors in their S-1's below. (Emphasis added by Business Insider.)

Here's Slack:

Exposure to political developments in the United Kingdom, including the outcome of the U.K. referendum on membership in the European Union, could harm us.

On June 23, 2016, a referendum was held on the United Kingdom's membership in the European Union, the outcome of which was a vote in favor of leaving the European Union. The United Kingdom's vote to leave the European Union has created an uncertain political and economic environment in the United Kingdom and across other European Union member states. The result of the referendum means that the long-term nature of the United Kingdom's relationship with the European Union is unclear and that there is considerable uncertainty as to whether and when any such relationship will be agreed and implemented. The political and economic instability created by the United Kingdom's vote to leave the European Union has caused and may continue to cause significant volatility in global financial markets and the value of the British Pound or other currencies, including the Euro. Depending on the terms reached regarding any exit from the European Union, or if no such terms are reached, it is possible that there may be adverse practical or operational implications on our business. For example, the UK Data Protection Act that substantially implements the GDPR became effective in May 2018. It remains unclear, however, how United Kingdom data protection laws or regulations will develop in the medium to longer term and how data transfers to and from the United Kingdom will be regulated and how those regulations may differ from those in the European Union. Further, the United Kingdom's exit from the European Union may create increased compliance costs and an uncertain regulatory landscape for offering equity-based incentives to our employees in the United Kingdom. If we are unable to maintain equity-based incentive programs for our employees in the United Kingdom due to the departure of the United Kingdom from the European Union, our business in the United Kingdom may suffer and we may face legal claims from employees in the United Kingdom to whom we previously offered equity-based incentive programs.

Here's Uber:

Additionally, the United Kingdom held a referendum on June 23, 2016, to determine whether the United Kingdom should leave the European Union ("EU") or remain as a member state, the outcome of which was in favor of leaving the EU, which is commonly referred to as Brexit. Lack of clarity about future U.K. laws and regulations as the United Kingdom determines which EU rules and regulations to replace or replicate in the event of a withdrawal, including financial laws and regulations (including relating to payment processing), tax and free trade agreements, intellectual property rights, supply chain logistics, environmental, health and safety laws and regulations, immigration laws, and employment laws, could decrease foreign direct investment in the United Kingdom, increase costs, depress economic activity, and restrict access to capital.

Here's Dropbox:

We also expect that there will continue to be new laws, regulations, and industry standards concerning privacy, data protection, and information security proposed and enacted in various jurisdictions. For example, European legislators have adopted a General Data Protection Regulation, or GDPR, that will, when effective in May 2018, supersede current European Union, or EU, data protection legislation, impose more stringent EU data protection requirements, and provide for greater penalties for noncompliance. Further, following a referendum in June 2016 in which voters in the United Kingdom approved an exit from the EU, the United Kingdom government has initiated a process to leave the EU, or Brexit. Brexit has created uncertainty with regard to the regulation of data protection in the United Kingdom. In particular, it is unclear whether the United Kingdom will enact data protection laws or regulations designed to be consistent with the pending EU General Data Protection Regulation and how data transfers to and from the United Kingdom will be regulated. Additionally, although we have self-certified under the U.S.-EU and U.S.-Swiss Privacy Shield Frameworks with regard to our transfer of certain personal data from the EU and Switzerland to the United States, some regulatory uncertainty remains surrounding the future of data transfers from the EU and Switzerland to the United States, and we are closely monitoring regulatory developments in this area.

Here's Zoom:

We also expect that there will continue to be new laws, regulations and industry standards concerning privacy, data protection and information security proposed and enacted in various jurisdictions. For example, in May 2018, the General Data Protection Regulation (GDPR) went into effect in the European Union (EU). The GDPR imposed more stringent data protection requirements and provides greater penalties for noncompliance than previous data protection laws, including potential penalties of up to €20 million or 4% of annual global revenues. Further, following a referendum in June 2016 in which voters in the United Kingdom approved an exit from the EU, the United Kingdom government has initiated a process to leave the EU, known as Brexit. Brexit has created uncertainty with regard to the regulation of data protection in the United Kingdom. In particular, although the United Kingdom enacted a Data Protection Act in May 2018 that is designed to be consistent with the GDPR, uncertainty remains regarding how data transfers to and from the United Kingdom will be regulated. Additionally, although we have self-certified under the U.S.-EU and U.S.-Swiss Privacy Shield Frameworks with regard to our transfer of certain personal data from the EU and Switzerland to the United States, some regulatory uncertainty remains surrounding the future of data transfers from the EU and Switzerland to the United States, and we are monitoring regulatory developments in this area.

(Lyft, which doesn't operate outside of North America, has no mention of Brexit or the EU of any kind. There's also nothing in social network Pinterest's S-1, or for music streaming app Spotify, which went public in 2018 and is headquartered in Sweden but has a large US presence.)

Got a tip? Contact this reporter via encrypted messaging app Signal at +1 (650) 636-6268 using a non-work phone, email at This email address is being protected from spambots. You need JavaScript enabled to view it., Telegram or WeChat at robaeprice, or Twitter DM at @robaeprice. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.

Read more:

The CEO of a UK startup pioneering deepfake technology thinks we're just three years away from having computer-generated versions of actors that are so good, they're indistinguishable from real humans.

Victor Riparbelli, 27, cofounded Synthesia two years ago. The company made its first big splash in 2018 when it used its technology to make a BBC news anchor appear to be speaking Spanish, Mandarin and Hindi.

More recently the company applied its tech to soccer legend David Beckham. In collaboration with the campaign Malaria Must Die, Synthesia manipulated Beckham's facial features so that nine malaria survivors were able to speak through him — in nine different languages.

You can watch the video here:

Riparbelli told Business Insider that the actual filming was almost identical to a regular day on set. The only difference is before they shot Beckham delivering his lines, they had to train Synthesia's algorithm on his face.

To do this, Beckham just had to talk into the camera. There's no need for a script, although Riparbelli said they often give prompts to help people think of what to say. One example they suggest people talk about: what they had for breakfast that morning.

This footage is then translated into training data, teaching the algorithm how Beckham's face moves so it can create a digital model of him. The whole process takes about three to four minutes. "Once you've done that, it doesn't require any special hardware or cameras or anything like that," Riparbelli said.

You can watch more here about how Synthesia made the video:

Bridging the uncanny valley

Synthesia this week announced that it has raised $3.1 million in funding, some of which came from early investor Mark Cuban. Riparbelli told Business Insider that while at the moment the company's focused on advertising, the goal is to break into the world of TV and film special effects.

"As the company moves forward we are going to expand our platform and the plan is to start working with film and entertainment and make ideas come to life much [more easily] than they are today," he said. He added that the tech Synthesia is developing is the same process that is already used in Hollywood films, "we're just doing it with neural networks which make the process completely automatic."

Read more: Scarlett Johansson says trying to stop people making deepfake porn videos of her is a "lost cause"

In recent years we've increasingly seen CGI versions of actors and actresses crop up in films — think "Bladerunner" or "Star Wars: Rogue One." However, many of these digital actors fall into what's known as the "uncanny valley" — too realistic to be cute, not realistic enough to be totally convincing. There's just something a little off.

Riparbelli thinks we're very close to getting rid of the uncanny valley.

"I think in the next three years we will see a significant improvement in how we can create digital humans," he said. He added that Synthesia can already make photorealistic humans, "we just can't do it with films yet."

Business Insider asked whether the company has any interest in applying its tech to video games. "Right now it's not our focus, our focus is on producing photorealistic video, but who knows maybe one day in the future," he said.

Synthesia "can't escape" deepfakes' bad reputation

Synthesia's success has mirrored the rise of deepfakes, videos where AI software is used to map people's faces onto other people's bodies in a realistic and often disturbing way.

The tech has gained notoriety, as it has been used to harass women by grafting their faces onto porn videos, and has stirred more generalised fears around disinformation and fake news. Internally, Synthesia prefers to use the word "synthesis" so as to escape the negative connotations.

Nonetheless, Riparbelli is resigned to the fact that the outside world will keep on describing their tech as deepfakes. "We can't escape it, and we're also fine with that."

"Would I wish that we don't always get associated with that term? Yes, but in another way everybody knows what you're talking about when you talk about 'deepfake' right, because there really isn't any other word," he added.

Riparbelli doesn't find the world of deepfakery totally reprehensible. He said his favourite is the deepfake video of Steve Buscemi's face grafted onto Jennifer Lawrence, which went viral earlier this year.

What do you think when you hear the words 'software developer'?

The cliché is someone who's a lifelong nerd or brogrammer type, almost inevitably male, and who has done a stint at Facebook, Google, or another major tech firm. They probably have a computer science or engineering qualification under their belt, and maybe went to an elite university.

Jacob Hsu is familiar with the pattern. Hsu is CEO of Catalyte, an IT services company, having joined in 2017. Headquartered in Baltimore, Catalyte manages software and digital transformation projects for clients such as Nike, making it much like any other IT services and consulting firm.

But Catalyte has an unusual approach to hiring teams of software engineers, which the company says results in a much more diverse workforce. To recruit trainee engineers, it uses an algorithm which does not factor in anything to do with applicants' social or educational backgrounds.

When Hsu first joined, he was sceptical that an algorithm could really result in diverse hiring.

"When I was just about to join, I thought the hiring process just can't work - I thought it must be impossible," he tells Business Insider.

Software engineering is a notoriously male-dominated field. In 2017, just 26% of professional computing occupations in the U.S. workforce were held by women, according to the National Center for Women & Information Technology. In 2018, the hiring programme HackerRank surveyed 14,000 software developers around the world, of whom only 2,000 were women.

But Hsu's experience at Catalyte was different.

"The moment I walked through the door, it hit me. Nearly a third of the programmers [at Catalyte] were African American. A third of the programmers were women. It was like nothing I'd ever seen."

Catalyte offers a two-year intensive training course in software development. When trainees have finished the course, the idea is that they will be competent enough to work as full-time software developers — whether for Catalyte and its clients or anywhere else.

The company's recruitment algorithm selects people for the training course, but applicants don't know they're being assessed by an algorithm. Instead, the application process is disguised as a traditional test.

As offbeat as Catalyte might sound, the company says it has grown seven-fold in two years, with its revenue growing from $10m to over $70 million.

Graduates of the programme work for companies including Microsoft, Amazon, and Paypal, and go from an average salary of $25,000 before to an average of $85,000 within 24 months of finishing.

"One-third of our software developers have no more than a high-school education"

In Catalyte's Baltimore office (which is also its headquarters), 28% of the office's software developers are African American. The African American population of Baltimore is 29%. The thinking is that Catalyte's local software teams should reflect the cities they work in.

"One of our programme graduates is an African-American lady who spent 16 years as a public school science teacher," Hsu said. "At one of the schools she taught at, she was asked to teach basic coding, which she had no prior experience of. She realised she had an aptitude for it, and that's what got her interested in our programme. But she said she would have dropped out of our programme were it not for the focus on teamwork."

Hsu believes the misconception that software development is solitary can put women off entering the industry. Maskot/Getty

Indeed, Hsu thinks the teamwork required by modern software development is also the reason why Catalyte takes on more female developers. "People often ask me about diversity in tech. I think the reason you see fewer women in software development is because it's viewed as a solitary activity.

"But modern software development is a team sport. The teams pull each other through. It's like going through the army. Nine out of ten people who undergo our training programme stay on permanently. But if they didn't have a peer group around them, they wouldn't survive our training. If I enrolled on our training programme now, I don't think I'd make it through."

Hsu claims the training is so thorough that clients assume teams of relative novices are old pros.

"When Michael [Rosenbaum, Catalyte's founder] was first establishing Catalyte, a company asked a Catalyte team to build some software for them, almost as a Hail Mary, " Hsu explains. "The team built it so efficiently that the company assumed they were ex-Navy Seals with college degrees. But our staff had worked at Taco Bell, or as Park Rangers, or as high-school teachers."

There are unlikely techies peppered throughout the company, he added.

"Our current director of training operations joined us eight years ago as a trainee software developer. Before joining us, he spent 20 years as a roofing contractor, but lost everything in the recession, including his house. The leadership skills he learned as a roofing contractor make his work at Catalyte easier.

"One-third of the developers we train have no more than a high-school education. We re-employ truck drivers, fast-food workers, architects - you name it."

On its site, Catalyte says it won't recruit people with felonies but Hsu said the company makes some exceptions.

"We have even hired people with criminal backgrounds. Usually, it's difficult to hire people with felonies, but we have done so on a case-by-case basis," he said.

How does an algorithm spot an unlikely but promising techie?

At a time when tech firms seem to be having trouble hiring diversely, how does Catalyte pull it off?

Hsu explained: "We put out ads stating that we're looking for trainee software developers who will ultimately go on to work for major companies, but we make it clear that no prior experience of software development is necessary."

According to one Fast Company profile, Catalyte posts job ads to Craigslist, a classifieds site more commonly used to find stuff like furniture on the cheap than to find a high-paying software job. Most engineers look in more conventional places for new gigs, like Stack Overflow.

Hsu continued: "In the test, there's a math section, an essay section, and a values section. But it's not about assessing your answers to those sections. You can score 100% on them and still fail to be selected for our programme.

Catalyte's recruitment algorithm takes into account 500 factors when assessing applicants. BII

"What we're really assessing is things like your keystroke data, how fast you move your eyes, how you interact with the interface, how many tabs you've got open in your browser ... there are around 500 different factors like this that the algorithm detects and takes into account when assessing candidates.

Essentially, he said, the algorithm assesses how people's minds work. "Software development is about finding the right information quickly, and changing your thinking on the basis of new information." On that basis, Catalyte tweaks its techie-finding algorithm constantly.

"What we do isn't charity"

This might all sound very noble, but it probably means very little to most software development businesses unless it actually gets results. Are Catalyte's software development teams really as good as teams assembled using traditional hiring methods? For Hsu, the answer is that they're better - significantly better, in fact.

"What we do isn't charity," he said. "Our unconventional software teams are outperforming traditional software, development teams. Our teams are ramping up in one to two sprints, not three to four. On average, our teams are three times as productive as traditional, tier one software development teams.

"We're picking extraordinary people like needles from a haystack."

Read more: Catalyte Bolsters Growth Trajectory with Two Executive Hires

These extraordinary people are not all from Silicon Valley, either. In fact, within the US, they're not collectively from anywhere in particular, which reinforces Hsu's fundamental belief: that talent is not concentrated in the major cities.

"We're proving that you can build software developments teams anywhere because talent is evenly distributed across society. We're starting up software teams side-by-side with our clients in places like Cincinnati, South Carolina, Ohio… we can generate proximity [to clients] on-demand."

"People often ask me 'why is your HQ in Baltimore?'," Hsu added. "It's to prove a point. We're proving that software development careers need not be confined to degree-holders in San Francisco.

Hsu says the company's HQ is in Baltimore "to prove a point" that software development need not be confined to Silicon Valley. Sean Pavone/Shutterstock

He continued: "People imagine all software developers are math nerds with four-year degrees. That's not true. They're more like self-taught musicians who have practiced. Whereas other companies have a preconception of what a successful person looks like, and find people to fit that preconception.

"We've been fast and quiet in terms of growth. Our rivals didn't see it coming, But they're catching on to what we're doing, now."

Hsu thinks Catalyte could go public within 12 months

Where does Hsu see Catalyte in ten years' time, given its seven-fold growth in the last two?

Hsu suggests an IPO within the next year.

"We're seriously considering going public," he says. "In the next twelve months, I think we'll be well-positioned to do so. That's very real.

"Our ultimate strategy is to blow up pedigree. We want to be like the 'Harry Potter' sorting hat of careers, where we take people regardless of background and assess their suitability for other jobs.

"Software development is just the first profession we're applying our algorithms to. We want to branch out to other professions, too."

Of course, whether Catatlyte achieves its goals remains to be seen, but it's already attracted at least one big-name backer.

In 2018, Catalyte was one of the first companies that billionaire AOL co-founder Steve Case invested in as part of his $150 million 'Rise of Rest' fund, which invests in promising seed-stage companies located outside Silicon Valley, New York City, and Boston.

Catalyte's approach to recruitment is a breath of fresh air in an industry dominated by white men. If and when it does go public, it'll be hoping new shareholders share its appetite for diversity.

A female engineer at Google wrote in a Medium post that the company's reporting system for workplace issues discouraged her from filing a complaint about a male coworker's disturbing obsession with her feet, ultimately leading her to seek psychiatric help, in another example of the tech giant's struggle to adequately address improper internal behavior.

Lea Coligado — a female engineer on the Google Maps team who identifies as Filipina — said that the "white man in his 50s" first took to her feet one night during a three-hour ride home on one of the company's chartered shuttle buses.

"I thought, There's no way this dude's been staring at my feet this long!" Coligado wrote. "But an adherent to rigorous testing, I moved my foot to gauge his reaction, and his whole goddamn head moved with it."

Coligado's bizarre tale is written in a sardonic style, replete with swear words and puns ("no one seemed to care that his SOLE objective was my feet"), but her message underscores a serious problem at Google. In the same week that Coligado's Medium post about her experience was making the rounds, Google announced a new internal web portal to make it easier for employees to report harassment.

Coligado wrote that under Google's reporting system for workplace issues, pursuing an investigation would have likely revealed her identity — leaving her susceptible to retaliation from the man. While she contemplated taking formal action, the man made repeated attempts to gain proximity to her, including sitting next to her in the cafeteria and even moving into the same building in which she worked.

Google did not take action against the potential stalking case, she said, because she never filed a formal complaint. Ultimately, Coligado said her mental health spiraled downward and so too did her performance at work.

Google

Coligado said that her story about the "foot guy" is the first installment in a forthcoming series of posts she's calling, "The Chronicles of the Coding Curmudgeon."

"Each piece is dedicated to a man who has stalked me, harassed me, or otherwise made me uncomfortable here," Coligado wrote. "I've reported 3 men for sexual harassment in my 2 years at Google! Can I get a 'Hell yeah!' for more content?!?!"

Google did not immediately respond to Business Insider's request for comment on the matter.

On Thursday, amid mounting pressure to address its process for employee-related incidents, Google said it was launching a new internal portal for employees to report issues, such as harassment, discrimination, and retaliation. A Google spokesperson told Business Insider on Thursday that employees had said previous methods of reporting workplace issues were complicated and opaque.

Read more: Google launched a new internal portal to help employees report workplace issues, and it's hoping the number of reports goes up as a result

Last November, 20,000 Google employees around the world walked out in protest over the company's handling of sexual-misconduct cases involving high-powered executives.

Elon Musk and the US Securities and Exchange Commission (SEC) have come to a settlement agreement over the Tesla CEO's errant behavior on social media.

"The (SEC), Musk, and the General Counsel of Tesla met and conferred, and the parties have reached an agreement to resolve the Commission's pending contempt motion against Musk," the filing said.

The settlement, announced on Friday, requires all of Musk's communication on social media, the company's website, press releases, and investor calls to be pre-approved by an "experienced securities lawyer."

The settle requires Tesla to, "implement mandatory procedures and controls (i) providing oversight of all of Elon Musk's communications regarding the Company made in any format, including, but not limited to, posts on social media (e.g., Twitter), the Company's website (e.g., the Company's blog), press releases, and investor calls; and (ii) requiring pre-approval by Securities Counsel of any written communication that contains information regarding any of the following topics:

In February, the SEC asked a judge to hold Musk in contempt of the court that approved their 2018 settlement after Musk tweeted out a projection about Tesla vehicle production. The SEC said in a court filing that Musk violated the terms of their settlement by not receiving approval from Tesla before publishing the tweet.

The settlement followed an August 2018 tweet from Musk saying he had obtained the funding necessary to take Tesla private at $420 per share. The SEC sued Musk over that tweet, saying that Musk was not as close to acquiring funding for the deal as he indicated. Their settlement required Musk to step down as the chairman of Tesla's board of directors for three years, pay a $20 million fine, and receive approval for all future written communications that could be relevant to Tesla shareholders.

Have you worked for Tesla? Do you have a story to share? Contact this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it..

The FBI on Friday raided the San Francisco offices of uBiome, a startup that sells tests that sequence the microbiome, or the assortment of bacteria and other microbes that live in our bodies.

The Wall Street Journal, which first reported on the raid, reported that the FBI is investigating uBiome's billing practices.

UBiome sent Business Insider this statement: "We are cooperating fully with federal authorities on this matter. We look forward to continuing to serve the needs of healthcare providers and patients."

The FBI confirmed that its agents were "conducting court-authorized law enforcement activity" at the address of uBiome's headquarters, but declined to provide further information.

UBiome sells doctor-ordered tests including SmartJane, its test that looks at the vaginal microbiome to test for sexually transmitted diseases as well as chronic vaginal infections, and SmartGut, which looks at the gut microbiome to test for gut conditions and metabolic disorders. Both can be covered by health insurance. uBiome also sells a direct-to-consumer test that doesn't require a prescription called the "Explorer" test.

Read more: I tried a test that let me peek inside my microbiome, the 'forgotten organ' that scientists say is the future of medicine — and what I learned shocked me

CNBC reports that uBiome routinely charged patients' plans twice for tests. CNBC also reported that health insurer Anthem had flagged the company for its over-billing practices. Anthem did not immediately return a request for comment.

Scientists have been working on ways to use the microbiome to unlock new treatments for difficult diseases. It's led to new companies — both on the medical side and in agriculture— that are taking a range of approaches to looking at the microbiome. It's often seen as the "forgotten organ."

Kodi is an open-source media center that can let you play movies, TV shows, music, and video games. The software originates from an early 2000s project called Xbox Media Center (XBMC) that gave Xbox owners the ability to upload video, pictures, and play music on their game console. Today, the software is available on multiple platforms, including Windows, Android, and MacOS.

The official version of Kodi does not contain any content — it's just a media player. You have to add your own media to the platform in order to watch or listen using Kodi. There are many add-ons available to enable playback from a variety of sources. Not all add-ons are supported by the official Kodi development team, so it's best to be cautious about the add-ons you choose to install.

While you can't install Kodi on a Roku device, you can still access your Kodi content on Roku by screen mirroring another device onto a Roku player. You'll need to ready both devices for screen mirroring before you can use Kodi to play your content.

Here's how you can use screen mirroring to use Kodi on Roku.

How to turn on screen mirroring on your Roku

Before you can mirror a device on your Roku, you must enable screen mirroring.

1. From the settings menu, scroll until you find "System." Click OK on your remote to open the System menu.

Select "System." Olivia Young/Business Insider

2. Select "Screen mirroring mode" by clicking OK on your remote.

Navigate to the Screen mirroring menu. Olivia Young/Business Insider

3. Choose the mode you prefer and press OK on your remote. You can choose to allow screen mirroring always, never, or to have the Roku prompt you for permission each time a device tries to use the function.

Set it to "Always allow." Olivia Young/Business Insider

How to mirror Kodi to Roku through an Android device

Mirroring Kodi from an Android device is a quick process. First, you'll need to ensure screen mirroring is enabled on your Android, then turn it on. Here's how:

1. From the Settings menu, tap "Display," and then "Wireless Display."

2. Tap the toggle switch to turn on Wireless Display.

3. Your device will begin searching for available devices equipped with Miracast. Tap to select your Roku device from the available displays.

Turn on wireless display by tapping the switch at the top of the screen, and tap the display you want to mirror. Olivia Young/Business Insider

4. Launch the Kodi app for Android on your device to use it on Roku.

How to mirror Kodi through other devices

You can install Kodi on Windows, MacOS, Linux, and Raspberry Pi. Windows users can use the wireless projection features built into Windows 8.1 and Windows 10 to mirror Kodi on Roku.

The iOS version of Kodi requires a jailbroken device so it may not be suitable for most users. Linux and Raspberry Pi users may wish to direct connect their devices to the TV using an HDMI cable instead of mirroring the screen to a Roku because these versions of Kodi do not have an out-of-the box feature to quickly enable screen mirroring.

On Thursday, the MoviePass competitor Sinemia filed for bankruptcy in Delaware and said in the filing that it was under "pending" investigation by the Federal Trade Commission (FTC).

"We didn't see a path to sustainability as an independent movie ticket subscription service in the face of competition from movie theaters as they build their own subscriptions," the movie-ticket subscription service said in a statement posted to its website on Thursday that explained its decision to shut down US operations.

Sinemia said its "efforts to cover the cost of unexpected legal proceedings and raise the funds required to continue operations have not been sufficient."

Sinemia's Chapter 7 bankruptcy filing references multiple "pending" cases against it, including two class-action lawsuits and a patent-infringement lawsuit brought by MoviePass.

The company also listed a "non-public" investigation by the FTC as "pending." A spokesperson for the FTC told Business Insider that the agency could neither confirm nor deny that such an investigation existed and said the FTC did not comment in most cases.

The FTC describes itself as having a "unique dual mission to protect consumers and promote competition." It also says it "protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace."

Though Sinemia did not list the nature of the FTC investigation in its filing, one of the class-action lawsuits brought by customers alleged that Sinemia engaged in deceptive marketing practices and provided examples in which the company advertised "one low monthly cost." Business Insider previously reported there were seven ways Sinemia could charge customers fees.

In the bankruptcy filing, Sinemia listed $1.2 million in assets and $158,000 in liabilities (as well as the pending cases).

Sinemia was started in Turkey in 2014 and also operates in countries including Canada, Australia, and the UK. It's unclear how operations in those countries will be affected. The company did not respond to a request for further comment from Business Insider.

Here is the full statement from Sinemia posted on Thursday:

Dear Customer,

Today, with a heavy heart, we're announcing that Sinemia is closing its doors and ending operations in the US effective immediately.

As Sinemia, we set out our journey with the vision to help as many moviegoers as possible to enjoy an affordable and better experience at the movies by a creating a movie ticket subscription service that adds value for both the moviegoers and the movie industry. Since 2014, we've been fine-tuning our model and serving movie-goers with a slate of affordable and flexible subscription plans.

We are all witnessing that the future of moviegoing is evolving through movie ticket subscriptions. However, we didn't see a path to sustainability as an independent movie ticket subscription service in the face of competition from movie theaters as they build their own subscriptions. Thanks to the cost advantage and cross-sell opportunities, movie theaters will be prominent in the movie ticket subscription economy.

While we are proud to have created a best in market service, our efforts to cover the cost of unexpected legal proceedings and raise the funds required to continue operations have not been sufficient. The competition in the US market and the core economics of what it costs to deliver Sinemia's end-to-end experience ultimately lead us to the decision of discontinuing our US operations.

Despite the best efforts of our team, it has been difficult for us as a start-up to continue providing our services to the moviegoers in the US without resources and enough capital to meet increased operations and legal costs.

We want to sincerely thank our customers that believed in us and helped us along the way for their love and support.

We are so grateful to have had the opportunity to share our dream with you.

Sinemia Inc.

Not everyone's worried, of course. Brian Pfeifler of Morgan Stanley Private Wealth Management, who's been ranked as one of the top ranked US wealth managers for years, told Marley Jay he's not expecting a recession this year or next year, for example. And BlackRock CEO Larry Fink has said markets could "melt up" from here.

Business Insider's investing editor Joe Ciolli will be at the Milken Global Conference in Los Angeles, starting Sunday, so you can look forward to much more color on what's going on with markets over the coming days.

He'll be there with Dakin Campbell and Becky Peterson, while BI founder and CEO Henry Blodget will be there hosting a panel on Artificial Intelligence Advances, and the Ethical Choices Ahead. If you're there and you see them, say hello!

As always, you can reach me at This email address is being protected from spambots. You need JavaScript enabled to view it. if you have any questions, ideas, or requests.

—Matt

Quote of the week

"I just don't know if that's possible to do." — Jon McNeill, Lyft's chief operating officer, pours cold water on Elon Musk's vision of one million self-driving Tesla robo-taxis on the streets by next year.

In conversation

Finance and Investing

Inside the hellacious hedge fund money-raising environment, where 'even the big funds have to get creative'

It's never been easy to be a small hedge fund in an industry full of trend-setting giants.

$10 trillion custodian Northern Trust is exploring shutting off external email for thousands of its employees as it tries to thwart cyber threats

One of the biggest custodian banks could do away with one of the most basic modern communications tools for thousands of its employees: email.

America's biggest banks are offloading parts of their home-loan businesses to machine-powered startups, as they try and fend off sagging profits

The business of buying a home has long been the dominion of banks, requiring time and human interaction. But amid mounting industry pressures, home lending is being delegated to the machines.

Tech, Media, Telecoms

Snap's New Guard: Meet the 26 new power players who help CEO Evan Spiegel run Snap Inc.

Snap has had a bumpy ride as a public company, weathering blowback from a botched redesign, increased competition, a plateauing user base, and a revolving door of executives in the past two years.

Netflix is changing its strategy and letting creators peek into its walled garden as Apple and Disney competition looms

Netflix is cozying up to TV and film creators now that it's facing stiffer competition for their content.

Inside Amazon's charm offensive to win over big brand budgets from Madison Avenue

Amazon has steadily been building out a sprawling advertising business across its website, its video platforms like Amazon Fire and IMDb, and a programmatic demand-side platform that targets and places ads on websites outside Amazon.

Healthcare, Retail, Transportation

We asked 10 healthcare leaders to pinpoint the biggest transformation in their industry that's been taken for granted. Here's what they said.

For all the changes healthcare still needs to make, there's been a lot of advances made in medicine over the past few decades.

A Silicon Valley VC in the hottest area of healthcare explains what's driving a surge in interest for mental-health startups

Mental health was once a sleepy arena for venture-capital investments.