Insider Finance - Business - Wild world of celebrity lectures

View in browser

April 23, 2023

Hi, I’m Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Today’s Sunday edition, a roundup of some of our top stories.

On the agenda today:

Inside the wild, drug-fueled world of celebrity lectures.
How Amazon wants managers to address pay concerns.
Why many real-estate agents won’t survive the housing crunch.
Mark Suster became the star of LA’s startup scene. Not everyone is a fan.

But first: Tesla keeps slashing prices, putting investors on edge. I break down the latest below.

If this was forwarded to you, sign up here.

DISPATCH

Teslas are cheaper than ever

Patrick Pleul/Getty Images

In the market for a new car? Elon Musk’s hoping that recent price cuts might turn you on to a Tesla.

The EV company has dropped the prices on Tesla models six times since the start of 2023, with the Model Y now available for less than the average car once tax credits are taken into account.

That’s helped Tesla drive demand, with first quarter deliveries up 36%. But first quarter earnings last week showed profits plummeting. Tesla’s stock dropped around 10% last week.

The billionaire might just be turning to his one remaining advantage in the EV business.

Mercedes-Benz has taken a lead on autonomous driving. And while Tesla’s been slow to release new models, rival carmakers have revealed flashier, more exciting EVs. But Tesla can cut prices and still deliver profits, something rival automakers struggle to do in their EV businesses.

While Tesla investors are worrying about profits, Musk's rivals have their own reasons to be concerned, Stephen Beck, founder and managing partner of consultancy cg42, told Insider.

"I'm sure most competitors are going 'oh, man, come on,'" Beck said. "This makes their road ahead a lot more difficult."

Plus, Chinese automakers are giving US car companies a run for their money — which could force the likes of Ford and GM to make some hard decisions

READ MORE HERE

THIS WEEK'S STORIES

Wild world of celebrity lectures

Christian Northeast for Insider

Companies spend an estimated $2 billion a year for celebrity speakers to inspire and entertain their pandemic-weary troops. It can cost over $500,000 for an hourlong keynote by Arnold Schwarzenegger or a Q&A with Serena Williams.

From the outside, it may seem like an easy gig: turn up, give a canned talk, and walk away with a big paycheck. But as the writer and former speech booker David Kushner reveals, the lecture circuit is much wilder. Kushner recounts stories of his time with celebrities from Spike Lee to Hunter S. Thompson and gives you all the dirty details of the Big Talk industry.

Go behind the scenes here.

Internal Amazon guidance

Amazon CEO Andy Jassy Dan DeLong/GeekWire

Amazon wants its managers to stress the "long-term" value of stock and "ownership" of work during annual employee-compensation reviews that started earlier this month. Managers should not disclose individual performance ratings or other people's pay with employees, either.

Those are among the many talking points shared in internal guidelines that list prospective questions and answers for Amazon managers to review before discussing pay with workers.

More from our scoop here.

And check out:

Read the Q&A guideline Amazon shares with managers on how to answer pay-related questions from employees

Crunch time for Realtors

Tyler Le/Insider

The pandemic’s homebuying craze now seems like a distant memory. The slowdown in sales has forced a brutal reckoning among real-estate agents who must decide whether the shrinking returns are worth the money and effort they're pouring into their businesses.

As rising interest rates spook both buyers and sellers, real-estate agents are now fighting over a dwindling pool of listings — and many won't survive the housing crunch.

More on the Realtor washout.

Also read:

Landlords who bought thousands of apartments are facing a reckoning

LA’s startup star

Will Varner/Insider; Clark Studio courtesy of Upfront Ventures; Getty Images

Mark Suster, the managing partner of Upfront Ventures, made himself the face of Los Angeles’ booming tech scene. He hosts one of the most glitzy summits in tech, with attendees like Gwyneth Paltrow and Alexis Ohanian.

But his abrasive, take-no-prisoners approach has alienated some founders and investors who say they found him aggressive, condescending, and ego-driven.

Read our full story here.

THIS WEEK'S QUOTE

“You thrust us into this situation without any support, and everything's amplified. It literally ruins lives.”

— Nick Thompson, a season-two contestant on “Love Is Blind,” told Insider’s Katie Warren. Read our full report here.

MORE TOP READS

Goldman, WFH, & more

The real reason bosses are freaked out by remote work.
What Goldman Sachs' first-quarter earnings mean for CEO David Solomon.
Want a fixer-upper in Japan? You could nab a country house for just $25,000.
Twelve percent of managers say they've fired a Gen Zer in their first week of work.
Take a look at the wildest designs by Larry Page's failed flying-car company.
Leaked docs show Shopify's plan to use 'stealth spear-fishing' recruiting tactics.
CEO who went viral for “pity city” comment on bonuses apologizes to staff.
See the 113 most powerful people at Warner Bros. Discovery.

CAN'T GET ENOUGH?

Keep up with Insider

Get Insider's app and notifications to be the first to find out about the stories you want to know — from tech to business. Download it here.
Become an Insider subscriber to get actionable, high-value news and insights to improve your career, company, and community. Subscribe here.
Want more of Insider in your inbox? Sign up for our newsletters here.

This edition was curated by Matt Turner, and edited by Lisa Ryan, Hallam Bullock, and Nathan Rennolds. Get in touch: insidertoday@insider.com.

Email sent to: you

Manage your email preferences | Unsubscribe | Terms of Service | Privacy Policy

Key phrases

MORE TOP READS Goldman recent price cuts first quarter deliveries first quarter earnings one remaining advantage former speech booker annual employeecompensation reviews individual performance ratings many talking points rising interest rates wild drugfueled world Hunter S Thompson startup starWill Varner US car companies celebrity lecturesChristian Northeast Big Talk industry Getty ImagesMark Suster many realestate agents

Older messages

A rental from hell

Saturday, April 22, 2023

Plus: Gen Z homeowners, and Coachella instagram vs. reality. View in browser Subscribe April 22, 2023 Hello, Insiders. Happy Earth Day! Be sure to check out our One Planet initiative — an

Larry Page's flying follies

Friday, April 21, 2023

Plus: SpaceX explosion, and where billionaires live. View in browser Subscribe April 21, 2023 Hello, Insiders. Pardon our lateness — we're having some technical issues today. Shona Ghosh, UK deputy

Wall Street: BLOOMBERG <GO>

Friday, April 21, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Hi! Dan DeFrancesco in NYC. Fun fact Friday: The first DVD mailed by Netflix was "Beetlejuice" in

Dark side of therapy apps

Thursday, April 20, 2023

Plus: Taylor Swift avoided FTX deal, and Southwest pilot's tiny home. View in browser Subscribe April 20, 2023 Hello, Insiders. Matt Turner, editor in chief of business, here. Depression is a

Wall Street: Avoid these hiring mistakes

Thursday, April 20, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Happy holidays, buds! Dan DeFrancesco in NYC, and I'll leave our list of the marijuana-testing policies at

🫂 Tesla's sharing

Sunday, May 28, 2023

Tesla's letting Ford drivers use its charging stations | UK retail sales ticked up | TOGETHER WITH Hi Reader, here's what you need to know for May 29th in 3:13 minutes. 🍦 It's time for the

🚀 It's NVIDIA's world....

Sunday, May 28, 2023

Plus, TikTok launches Shopping! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Homebuyers are screwed

Sunday, May 28, 2023

Plus: Bill Gates' AI bet, and the best early-stage investors. View in browser Subscribe May 28, 2023 Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider

Welcome to the ‘Airbnbust’

Saturday, May 27, 2023

Plus: $2.5 million cruise cabin, and airline catering truck tiny home. View in browser Subscribe May 27, 2023 Hello, Insiders. Ever find yourself sitting on your couch, mindlessly scrolling through

‘We made progress’

Saturday, May 27, 2023

Bloomberg Weekend Reading View in browser Bloomberg A debt limit deal seems near, and just days before the full faith and credit of the US would be placed in question for the first time in the

Sticking point

Friday, May 26, 2023

Bloomberg Evening Briefing View in browser Bloomberg Treasury Secretary Janet Yellen announced the department expects to be able to make payments on US debt up until June 5, four days longer than her

The Most Important Bank in the World

Friday, May 26, 2023

Plus: Starling Bank, Norinchukin, Citigroup ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Musk’s coming for your brain

Friday, May 26, 2023

Plus: ChatGPT's making people money, and the hack airlines hate. View in browser Subscribe May 26, 2023 Hello, Insiders. Jack Sommers, senior editor in the UK, here. You may love Elon Musk, or you

Wall Street: So about that US default

Friday, May 26, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Finally Friday! Dan DeFrancesco checking in from an undisclosed location (most likely with a drink in my hand).

💵 Nvidia aced it

Thursday, May 25, 2023

Nvidia's update had investors falling in love | A recession hit Germany| TOGETHER WITH Hi Reader, here's what you need to know for May 26th in 3:10 minutes. It's 2023: these days, crypto