Insider Finance - Business - Secret meetings on superyachts

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May 29, 2023

Hello, Insiders. Hallam Bullock, an editor on Insider’s audience team, here. It’s a holiday in the US and the UK today. If you’re off work, here’s hoping you can have a relaxing day.

So, can you put a price on absolute privacy? The superrich can — and it’s the cost of a superyacht. These vessels are booming in popularity, offering the rich and powerful a space to conduct secret meetings. But spies are everywhere — even at sea. That’s today’s big story.

Also in today’s edition:

How to book a skiplag flight to save money — and why you shouldn't.
Four things “Succession” got wrong about business.
The US, China, and Russia are ranked as having the strongest militaries in 2023.

— Hallam Bullock

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THE LATEST

Debt ceiling, Turkey, & Holmes

Joe Biden and Kevin McCarthy reached a tentative debt-ceiling deal that would avoid a national default. So, what's in the deal — and what's been left out? Here’s a breakdown.
Turkish President Erdogan has won reelection. The runoff came days after Twitter blocked Erdogan's political opponents from posting on the site.
Elizabeth Holmes is expected to start serving her 11-year sentence at a federal prison camp in Texas on Tuesday. She faces 6 a.m. wake-up calls and making her own bed.

THE BIG STORY

Secrets at sea

VALERY HACHE/AFP via Getty Images

Superyachts are the ultimate symbol of wealth, power, and status. But they also offer the ultrawealthy a crucial luxury: extreme privacy.

Yachts provide a forum for meetings at sea, where the rich and powerful can talk freely beyond the jurisdiction of any country. But you aren’t the only person who knows about it — spies and journalists are forever trying to breach their layers of privacy.

Insider spoke with a yacht-security expert, who broke down how the vessels ensure “absolute, complete, and total privacy.” It involves sweeping the ships for surveillance devices, fending off drones at sea, and rooting out moles among the crew.

READ THE FULL STORY HERE

TOP READS

Skiplag, ‘Succession,’ & more

HBO

Four things "Succession" got wrong about business. The acclaimed HBO series, which aired its finale last night, is beloved for its attention to detail — from star performances to wardrobe. Legal experts said it captured the spirit of boardroom drama but took liberties with corporate law. More here.
The world's most powerful militaries have been ranked. Global Firepower's latest list considers factors including military equipment, number of troops, and more. The UK comes in at No. 5, while China is No. 3 behind Russia and the US. Check out the full ranking.
“Skiplagging” could save you hundreds, but the travel hack could get you punished. The strategy involves booking a flight with a layover at the intended destination and then skipping the second leg. We explained how to do it but also why it’s risky. Read more.
Seven cities people are fleeing — and seven they’re moving to. Change-of-address requests indicate many are leaving cities including Miami and Chicago. But the data shows an influx to others such as Cleveland and Henderson, Nevada. Get both lists here.
Flight attendants share tips to survive long-haul flights. They dished advice on when to travel, what to pack, and more. One of them said red-eye flights were less likely to have families (and, therefore, crying children) on them. Read all their tips.
Pentagon shocked by Ukraine’s use of US Patriot missile system. The weapons are some of the most advanced surface-to-air missiles sent to Ukraine. And one military analyst said the country’s success wielding the weapons had even amazed the Pentagon. More here.
Commuting could be the main reason people don’t want to return to the office. It’s costly, a major time suck, and mentally draining. Without commutes, people have been able to pursue their hobbies and spend more time with loved ones. Dive into the story.

TAKE A LOOK

Robot restaurant

Joe Ciolli

“I went to the world's first Sweetgreen where robots make your salad.” Bowls hummed along conveyor belts, tubes dispensed the ingredients, and there was even a final human touch. Insider’s Joe Ciolli writes that he’s convinced it’s the future of restaurants. Check it out.

WATCH THIS

So Expensive Food

Sake has been brewed in Japan for thousands of years. The most expensive kind, made with polished grains of rice, is called junmai daiginjo. One bottle can easily cost over $100. Here's why it's so expensive.

CAN'T GET ENOUGH?

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This edition was curated by Hallam Bullock and edited by Lisa Ryan, Diamond Naga Siu, Shona Ghosh, and Kevin Kaplan. Get in touch: insidertoday@insider.com.

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Insider Finance - Business - Secret meetings on superyachts

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