Insider Finance - Business - I got paid to not work for 2 months

January 9, 2023

Good Monday, Insiders. This week, I’m going to use this space to explore the state of crypto. Why? Well, it seems to me we are at a major crossroads: the whole market could potentially go the way of the dotcom bust. Interest rates are up. Central banks are doing all they can to end the era of easy money and inflation. Fraudsters are getting exposed. Trading volume is tanking, and so is the market and the valuations of startups built around it.

But crypto bulls will shout that they’ve been through “winters” like this before. And they’re right. Maybe 2023 will end with digital currencies and the blockchain proving their resiliency in the face of skeptics once more. So, how about we dig in and figure out what we think? As always, I want to hear from you: insidertoday@insider.com. But now, the news.

— Nicholas Carlson

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The latest

• Supporters of Jair Bolsonaro stormed Brazil’s Congress in scenes eerily familiar to the Jan. 6 Capitol riot. See photos and videos of the chaos here.

• Prince Harry says Camilla is "dangerous" in new interviews. He also said he received a “horrible reaction” from the royals when the Queen died and believed Princess Diana was still alive until he was 23. Read more.  

• Salesforce employees describe chaos, confusion, and “tone deaf” leaders as they fight for their jobs. Inside the company’s week from hell.

The big story

Chad Kirkland/Bravo; Rebecca Zisser/Insider

“Real Housewife” Jen Shah was just sentenced to 6 1/2 years in prison. Here’s how her fabulous life came crashing down.

The scene was reality-TV gold: Jen Shah of "The Real Housewives of Salt Lake City" was headed to a ski weekend with her castmates. It was March 2021. Shah answered a phone call. Flustered, she asked a castmate to turn off her mic and climbed out of the van. She drove away.

Moments later, a helicopter appeared. Homeland Security agents and New York City Police Department officers swarmed the van. The officers were looking for Shah.

"You guys, what if she's on the run?" one castmate asked.

Shah, 49, had a persona of excess on the show: "I make millions," she bragged in a casting tape. "I probably spend at least 50 grand a month." (She later clarified on a podcast that the $50,000 was just for clothing.)

On Friday, she was sentenced after pleading guilty to conspiracy to commit wire fraud in connection with a telemarketing scam targeting elderly victims. As she said at her sentencing, "Reality TV has nothing to do with reality."

Top reads

Getty; Marianne Ayala/Insider

• "I got paid to not work for two months." Crissie Hoskins’ workplace has a new policy: Employees who’ve been there for 10 years get an eight-week paid sabbatical. She says her time off made her more passionate about the job. Why paid sabbaticals are good for business.

• There’s a back door to access the Supreme Court. Anti-abortion activists, corporate bigwigs, and conflicted parties have co-opted a little-known society to buy priceless access. Here’s the story.

• Jeff Bezos back at Amazon? Amazon just announced the largest layoffs in its history, and its stock is down roughly 50% in a year. Inside the tech giant, there's chatter, and jokes, about Bezos returning as CEO. Read what people are saying.

• 12 “nepo babies” of big business. Insider has compiled a list of people whose careers have benefitted from family connections, from the CEO of Rolling Stone to the chair of Fox Corporation. After all, it’s who you know. See the full list here.

• “I moved into a 5-star Las Vegas hotel for a month.” David Morris moved into the Wynn Las Vegas hotel after his condo flooded. At an eye-watering $1,942 a night, it certainly offered some perks. Here are 10 things he learned about living in luxury.

• “Leg-lengthening surgery changed my life.” Ibrahim Alğan always hated being short, so he paid $26,850 to gain nearly five inches. He told Insider that he’s become more confident and even changed career thanks to the surgery. Get the full story.

• Roman Abramovich transferred superyachts and jets worth $4 billion to his children. The Russian oligarch moved the assets just before the Ukraine invasion, The Guardian reported, citing leaked files from the former Chelsea FC owner’s financial manager, MeritServus. Find out more.

Take a look

Sonny Tumbelaka/Getty Images

A Boeing 737 is being turned into a luxury villa in Bali. It's set to open to guests in March 2023, with stays starting at about $7,300 a night. Check it out.

Watch this

After 15 tries, Republicans elected Kevin McCarthy as the speaker of the house on Friday night. Watch here.

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This edition was curated by Nicholas Carlson, and edited by Hallam Bullock, Lisa Ryan, Dave Smith, and Nathan Rennolds. Get in touch: insidertoday@insider.com.