Amazon chaos — Tech fraudsters — Apollo dealmakers

 
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INSIDER WEEKLY
 
 
 
 

Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Weekly, a roundup of some of our top stories. 

Before we begin, today is the Transgender Day of Remembrance. I'd like to take the opportunity to highlight an important new project from our investigations team — the most comprehensive database of transgender homicides to date. It's a stunning work of impactful journalism. Please take the time to read it.


On the agenda today:

But up first: Each year, Insider surfaces 100 leaders across 10 industries who are driving unprecedented change and innovation. Ashley Davis from our special projects team is here to take us behind the scenes of this year's list.


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The 100 People Transforming Business

The 100 People Transforming Business

In the past 12 months, business leaders have faced inflation, a polarized political climate, persistent supply-chain issues, the Great Resignation, a real-estate boom, and more. The leaders tackling these challenges have had their work cut out for them, senior editor Ashley Davis writes.

That's why the 100 People Transforming Business series covers more than just career milestones. Our editors carefully selected the power players, activists, and pioneers who are shaping the future. Here's what the project includes:

  • 100 short profiles of the business leaders who are tackling some of the world's biggest problems;
  • A Readers' Choice section featuring 10 innovators nominated by our audience;
  • 10 stories (and counting) analyzing the key trends and themes that drove this year's selection.

Finalists include sustainability leaders like Yvon Chouinard, the founder of Patagonia who recently committed all of the company's profits to help fight the climate crisis; justice seekers like Josh Stein, who is working to hold Big Pharma accountable for the opioid crisis; and real-estate visionaries like Akilah Watkins, who is reviving communities on a large scale.

Check out the full list here.

Now, let's get to the week's top stories.


Tech's cheating epidemic

In a maze, a figure looks at another figure on top of exam dumps leading towards a shining door.

Like plumbers and electricians, tech workers earn independent certifications to confirm they understand leading systems and can install and repair them on the fly. But fraudsters are conning their way into big jobs in tech — by cheating on these crucial tests.

Many workers are able to find their exact tests online ahead of time, along with the answers. And here's the kicker: The companies issuing the certifications, such as Microsoft and Amazon, are virtually powerless to stop them. 

Read the full story


Inside the chaos at Amazon

Amazon ad series: Amazon CEO, Andy Jassy, surrounded by Amazon related imagery

Amazon began laying off 10,000 workers this week, in what could be the largest round of corporate cuts in its history. And employees have been livid — especially over how they heard the news: from media reports.

Workers have been slamming the company in internal Slack channels for the lack of communication. Corporate staffers are also swapping tips on how to manage "freak-outs," cobbling together a "Safe List" of the divisions that are likely to avoid the cuts, and even floating a forbidden word: union

It's expected that layoffs will hit Amazon's retail wing once the peak holiday shopping period is over. In the meantime, the department's been told to cut back on holiday parties.


Here's what Amazon employees are saying.


Elon Musk shows the modern CEO job is broken

Business CEO with money on face in front of two workers with heads down 4x3

Elon Musk currently holds three CEO roles: SpaceX, Tesla, and now Twitter. That's not to mention his other endeavors like Neuralink and The Boring Company. But while this juggling act may seem impressive, it's actually the perfect example of how the CEO role has become warped. 

Once upon a time, a CEO was the chief value driver at a company — but the modern executive appears to be more focused on picking up multiple roles that elevate their own brand, Ed Zitron (a CEO himself) writes. All the while, regular employees are often punished for having side hustles or not devoting enough of themselves to their jobs. 

Why CEOs are now Chief Hypocrisy Officers

Also read:


From associate to partner at Apollo in their 30s

Reed Rayman, Robert Kalsow-Ramos and Aaron Sobel from Apollo Global Management, on a circle patterned background featuring the Apollo logo, as well as their investments, Yahoo, Brightspeed and Legendary

There's a cohort of young executives in their mid-30s at the Wall Street titan Apollo. They're managing companies and chasing down deals — and affording themselves luxuries like homes in the Hamptons.

These partners largely fly under the radar, with much of the media glare on the firm's cofounders. But insiders say they represent the future of the firm's private-equity division — a class of investor that comes with outsize status, a healthy ego, and lots of responsibility.

How these Apollo dealmakers rose through the ranks.

Plus, check out: 


This week's quote:

"Never in my career have I seen such a complete failure of corporate controls."


More of this week's top reads:


Plus: Keep updated with the latest business news throughout your weekdays by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here tomorrow.


Curated by Matt Turner. Edited by Hallam Bullock and Lisa Ryan. Sign up for more Insider newsletters here.

 
 
 
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