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NASA fixed a glitch on Voyager 1 after consulting 45-year-old manuals. The spacecraft was beaming information through a dead computer.

Tue, 12/13/2022 - 2:21pm
Artist's concept of the Voyager 1 spacecraft.
  • In May, NASA reported its Voyager 1 spacecraft was sending strange data back to Earth.
  • After looking through decades-old manuals to debug it, the Voyager team solved the glitch in August.
  • Why it occured is still uncertain. Engineers think it might be due to the spacecraft's age or location in interstellar space.

In May, NASA scientists said the Voyager 1 spacecraft was sending back inaccurate data from its attitude-control system. In order to find a fix, engineers dug through decades-old manuals. 

The Voyager team solved the mysterious glitch in late August, NASA officials wrote in an update. Turns out, the spacecraft was beaming information using a dead computer that was corrupting the data.

Voyager 1, along with its twin Voyager 2, launched in 1977 with a design lifetime of five years to study Jupiter, Saturn, Uranus, Neptune, and their respective moons up close. 

After nearly 45 years in space, both spacecraft are still functioning. In 2012, Voyager 1 became the very first human-made object to venture beyond the boundary of our sun's influence, known as the heliopause, and into interstellar space. It's now around 14.8 billion miles from Earth and sending data back from beyond the solar system. 

"Nobody thought it would last as long as it has," Suzanne Dodd, project manager for the Voyager mission at NASA's Jet Propulsion Laboratory, told Insider over the summer before the Voyager team found a fix, adding, "And here we are."

Unearthing old spacecraft documents

Voyager 1 was designed and built in the early 1970s, complicating efforts to troubleshoot the spacecraft's problems.

Though current Voyager engineers have some documentation — or command media, the technical term for the paperwork containing details on the spacecraft's design and procedures — from those early mission days, other important documents may have been lost or misplaced.

An engineer works on an instrument for one of NASA's Voyager spacecraft, on November 18, 1976.

During the first 12 years of the Voyager mission, thousands of engineers worked on the project, Dodd said. "As they retired in the '70s and '80s, there wasn't a big push to have a project document library. People would take their boxes home to their garage," Dodd added. In modern missions, NASA keeps more robust records of documentation.

There are some boxes with documents and schematic stored off-site from the Jet Propulsion Laboratory, and Dodd and the rest of Voyager's handlers can request access to these records. Still, it can be a challenge. "Getting that information requires you to figure out who works in that area on the project," Dodd said. 

For Voyager 1's recent telemetry glitch, mission engineers had to specifically look for boxes under the name of engineers who helped design the attitude-control system — which was " a time consuming process," Dodd said. 

Source of the bug

The spacecraft's attitude-control system, which sends telemetry data back to NASA, indicates Voyager 1's orientation in space and keeps the spacecraft's high-gain antenna pointed at Earth, enabling it to beam data home.

"Telemetry data is basically a status on the health of the system," Dodd said. But during this summer's glitch, the telemetry readouts the spacecraft's handlers were getting from the system were garbled, according to Dodd, which means they didn't know if the attitude-control system was working properly.

An engineer works on the construction of a large, dish-shaped Voyager high-gain antenna, on July 9, 1976.

Dodd and her team had long suspected it was due to an aging part. "Not everything works forever, even in space," she said over the summer.

Engineers also thought Voyager's glitch may be influenced by its location in interstellar space. According to Dodd, the spacecraft's data suggests that high-energy charged particles are out in interstellar space. "It's unlikely for one to hit the spacecraft, but if it were to occur, it could cause more damage to the electronics," Dodd said, adding, "We can't pinpoint that as the source of the anomaly, but it could be a factor."

In late August, Voyager engineers located the source of the garbled data: the spacecraft's attitude-control system was routing information through a dead computer. They believe it was triggered by a faulty command from another onboard computer.

"We're happy to have the telemetry back," Dodd said in a NASA statement released in August. Still, the team is uncertain why it occured in the first place. "We'll do a full memory readout of the AACS and look at everything it's been doing. That will help us try to diagnose the problem that caused the telemetry issue in the first place. So we're cautiously optimistic, but we still have more investigating to do," Dodd said in the statement.

Voyager 1's journey continues

As part of an ongoing power management effort that has ramped up in recent years, engineers have been powering down non-technical systems on board the Voyager probes, like its science instruments heaters, hoping to keep them going through 2030.

Voyager 1 looked back to Saturn on Nov 16, 1980 to give this unique perspective of its rings.

From discovering unknown moons and rings to the first direct evidence of the heliopause, the Voyager mission has helped scientists understand the cosmos. "We want the mission to last as long as possible, because the science data is so very valuable,'' Dodd said. 

"It's really remarkable that both spacecraft are still operating and operating well — little glitches, but operating extremely well and still sending back this valuable data," Dodd said, adding, "They're still talking to us."

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NFL player J.J. Watt blasts Chipotle on Twitter: 'We want big burritos back'

Tue, 12/13/2022 - 2:19pm
  • Arizona Cardinals player J.J. Watt called out Chipotle for shrinking burrito sizes on Twitter.
  • Some customers have been complaining about Chipotle's portion sizes for years.
  • Chipotle previously said that customers can customize food and digital orders allow for more consistency. 

Some Chipotle customers have complained about the chain's portion sizes for years, and now they have a famous athlete on their side. 

Pro-bowler and Arizona Cardinals defensive end J.J. Watt tweeted Sunday "Burritos have been getting smaller…," writing that he wanted to "open dialogue" with Chipotle. Watt included a photo of his wrapped burrito in his hand.

—JJ Watt (@JJWatt) December 11, 2022

"We want big burritos back," he wrote, adding hashtags including "Burrito justice," "Still hungry," and "This is supposedly double meat."

At the time of writing, the tweet has accumulated over 4100 retweets, nearly 60,000 likes, and just under 3,000 replies. Many of those replies are other customers showing off small burritos that say they got from Chipotle.

Customers have taken to Twitter before to show off tiny serving sizes and small burritos with dollar bills, rulers, and beer cans for size references. Chipotle did not immediately respond to Insider's request for comment, but the chain responded to reports of skimpy orders in 2021.

"Guests of Chipotle have the opportunity to completely customize their meal in restaurants by vocalizing their desired portions, or digitally selecting extra, light, normal or on the side when choosing from the list of real ingredients," Chief Corporate Affairs Officer Laurie Schalow told Insider in a statement. "We are not experiencing any supply-chain shortages, and Chipotle receives an abundance of praise for the incredible value its entrees offer with responsibly sourced ingredients chopped or grilled fresh daily."

Since COVID-19 prompted more people to order digitally, Chipotle has been able to gather more precise data about ingredient costs and customer ordering. In September 2020, CFO Jack Hartung said workers were "more consistent on portioning" with digital orders, eliminating the potential for variance depending on the customer and person working.

If its portion sizes are getting smaller, Chipotle wouldn't be the only retailer to do so. Retail brands are increasingly turning to "shrinkflation" to avoid scaring off customers with higher prices, instead keeping prices the same for smaller packages and less product. 

Do you have a story to share about a retail or restaurant chain? Email this reporter at mmeisenzahl@businessinsider.com.

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Supersonic jet startup Boom says it will create its own engine with 3 partners after every major manufacturer refused to help

Tue, 12/13/2022 - 2:17pm
  • Boom Supersonic has announced Symphony, the engine that will power its ultra-high-speed Overture jet.
  • The propulsion system will feature 35,000 pounds of takeoff thrust and reduce operating costs by 10%.
  • The news comes a few months after major manufacturers told Boom it wouldn't help it build a supersonic engine.

Boom Supersonic's ultra-high-speed airliner now has plans for an engine.

On Tuesday, the Denver-based startup announced its future Overture jet would be powered by Symphony, the new Boom-led propulsion system that will be "designed and optimized" for the plane. 

According to Boom, it will partner with three entities to bring the engine to life, including Florida Turbine Technologies, which is a part of Kratos Defense & Security Solutions, to assist with the design. The planemaker has also tapped StandardAero for maintenance, and General Electric subsidiary GE Additive for consulting on metal additive manufacturing, which is also known as 3D printing.

While FTT is not a widely known engine maker like Rolls-Royce or Pratt & Whitney, the over-20-year-old business has been awarded multi-million dollar contracts and has developed a turbojet for cruise missiles and unmanned aerial vehicles.

"The team at FTT has a decades-long history of developing innovative, high-performance propulsion solutions," company president Stacey Rock said in a press release. "We are proud to team with Boom and its Symphony partners and look forward to developing the first bespoke engine for sustainable, economical supersonic flight."

Designed to operate on 100% sustainable aviation fuel, the new medium-bypass turbofan engine will emit net zero carbon, feature 35,000 pounds of takeoff thrust, have low-weight materials, and reduce overall operating costs by 10% compared to other supersonic engines.

With the Symphony project already started, Boom says Overture, which was recently redesigned, will start production in 2024. Its first flight is set for 2027, with type certification expected by 2029. 

The company's small XB-1 prototype, known as Baby Boom, has already begun test flights in Colorado and is intended to demonstrate "key technologies for safe and efficient high-speed flight."

Baby Boom.

The news comes just a few months after every major manufacturer said it would not help Boom create an engine for Overture, with Rolls-Royce saying the "commercial supersonic market is not currently a priority for us." 

CFM International joined the trend in October when CEO Gaël Méheust said the company doesn't "see a significant market for an engine that targets a very small potential niche."

Despite the setback, Boom managed to achieve its goal to secure an engine maker by year's end, giving hope to the jetliner's eventual commercial use.

However, Henry Harteveldt, travel analyst and president of Atmosphere Research Group, told Insider in September that "it will be a big challenge" for Boom to build its own engine.

"But, if it is successful in building the jet and the engine, then they get their aircraft and have very unique intellectual property and a business advantage because they will not rely on a third-party engine maker," he explained.

To date, three airlines have invested in Boom, including United Airlines, American Airlines, and Japan Airlines, with United Airlines Ventures president Mike Leskinen welcoming the new project.

"United and Boom share a passion for making the world dramatically more accessible through sustainable supersonic travel," he said in a press release. "The team at Boom understands what we need to create a compelling experience for our passengers, and we are looking forward to a United supersonic fleet powered by Symphony."

Overture is expected to carry between 65 and 80 passengers in an all-business configuration, traveling between New York and London in as little as three and a half hours.

Read the original article on Business Insider

OPEC slashes oil demand outlook on global economic uncertainty after earlier predictions of supply shortfalls

Tue, 12/13/2022 - 2:04pm
Representatives of OPEC member countries attend a press conference after the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting in Vienna, Austria, on October 5, 2022.
  • OPEC slashed oil demand outlook on Tuesday on signs of global uncertainty. 
  • The cartel now predicts demand will be roughly 380,000 barrels a day below previous estimates. 
  • "The year 2023 is expected to remain surrounded by many uncertainties, mandating "vigilance and caution," OPEC said. 

OPEC slashed its oil demand outlook on Tuesday, citing mounting global uncertainties while recommending "vigilance and caution" to member countries.

The cartel now forecasts oil demand will be 380,000 barrels per day below previous estimates in the first quarter of 2023. It is expecting oil demand for the full year to grow by 2.2 million barrels per day, equaling an average of 101.77 million barrels per day. 

"The year 2023 is expected to remain surrounded by many uncertainties, mandating vigilance and caution," OPEC said in its monthly report. 

In October, OPEC announced a 2 million barrel per day supply cut, which drew the ire of the Biden Administration and criticism that the cartel is seeking to benefit from elevated oil prices. The latest fall in demand outlook serves as further justification for the October supply cut. 

Earlier in December, OPEC agreed to keep the supply picture largely unchanged in the early months of 2023 in order to weigh the full ramifications of the previous cuts. OPEC also noted that rivals will bring 1.5 million bpd to market next year, with 75% of that coming from the US. 

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FTX's new CEO says that it could take months to track down the company's assets and that there was 'no record keeping whatsoever' at the now-bankrupt exchange

Tue, 12/13/2022 - 1:37pm
Sam Bankman-Fried co-founded the crypto exchange FTX in 2019.
  • FTX's new chief John Ray says it could take months to secure all the company's assets.
  • "I've just never seen an utter lack of record keeping," Ray, who oversaw Enron's bankruptcy process, said.
  • Disgraced FTX founder Sam Bankman-Fried was slated to testify, but was arrested Monday night. 

FTX's new chief executive officer John Ray said it could take months to secure all the company's assets following its abrupt collapse.

"We've been able to secure over $1 billion of assets to cold wallets in a secure location," Ray said in his testimony to the House Financial Services Committee on Tuesday.

He added: "It's an ongoing process. [It] will take weeks if not months to secure all the assets."

Ray, who has been FTX's new chief executive since Bankman-Fried resigned last month, served as chairman of Enron and steered the energy company through bankruptcy in the early 2000s.

FTX filed for bankruptcy protection last month amid a severe liquidity crunch. Customers with money in accounts on the exchange were unable to withdraw their funds, with the event vaporizing billions of dollars essentially overnight. 

US prosecutors are accusing Bankman-Fried of orchestrating a years-long scheme to defraud investors, according to an SEC complaint on Tuesday.

"We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto," SEC Chair Gary Gensler said in a statement.

Securing assets may be prolonged because of FTX's lack of internal accounting before the company filed for bankruptcy, Ray said.

"I've just never seen an utter lack of record keeping. Absolutely no internal controls whatsoever," Ray said.

FTX employees would communicate invoicing and expenses via Slack, according to Ray, and also used QuickBooks, an accounting software geared towards smaller businesses.

"[The case is] unusual in the sense that literally, you know, there was no record keeping whatsoever," Ray said. "Nothing against QuickBooks, it's a very nice tool, just not for a multibillion dollar company."

Bankman-Fried was also scheduled to testify on Tuesday, but was arrested in the Bahamas on Monday night. The fallen exec reportedly planned to tell US lawmakers that he "fucked up," according to a written testimony obtained by Forbes.

"This testimony is so disrespectful," Rep. Emanuel Cleaver, a member of the House Financial Services Committee, said in reference to Bankman-Fried written remarks. 

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FTX CEO's bewilderment that company used QuickBooks for its accounting echoes a scene in 'Breaking Bad'

Tue, 12/13/2022 - 1:34pm
FTX CEO, John J. Ray III, testifying before Congress.
  • New FTX CEO John J. Ray III said there was an "absence of record keeping" at the crypto company. 
  • He noted that FTX used the accounting tool QuickBooks, an unusual choice for a multibillion-dollar company.
  • The remark was reminiscent of a scene in "Breaking Bad," in which Skylar White says she uses Quicken.

The brightest minds of the world have long debated the question: Does life imitate art or does art imitate life?

On Tuesday morning, FTX's recently appointed CEO John J. Ray III may have provided a clue.

Ray testified before the House Committee on Financial Services with the goal of uncovering exactly what went wrong at the now-bankrupt crypto exchange. 

In a November interview with The New York Times, Ray had called FTX a "complete failure" that was worse than Enron — the energy trading firm that magnificently imploded in 2001 and whose bankruptcy he oversaw. Members of Congress did not let the comparison go unquestioned. 

At the hearing, Congresswoman Ann Wagner of Missouri asked Ray to elaborate on the specific ways FTX was worse than "one of the largest corporate frauds in history."

Ray explained that FTX was "unusual" in that it had "no record keeping whatsoever." He said that employees would exchange invoices and expenses on Slack, the ubiquitous workplace chatroom.  

"They use QuickBooks," he added, referring to the accounting software.

"QuickBooks?"  Congresswoman Wagner asked for clarification. 

"QuickBooks, very nice tool, not for a multibillion dollar company," Ray confirmed.

For fans of the series "Breaking Bad," the exchange may have seemed familiar. 

In a scene from the fourth season of "Breaking Bad," Ted Beneke's company Beneke Fabricators is audited by the IRS. He brings in his accountant, Skyler White, to cover for him and asks her to pretend to be incompetent.

As White explains her bookkeeping strategy to the IRS officer, she reflexively asks, "When I input everything into the Quicken, nothing flashed red, so that's gotta mean it's ok, right?"

Anna Gunn as Skyler White on "Breaking Bad."

The IRS officer pauses, solemnly, before asking, "Quicken. You use Quicken to manage books for a business this size?"

Both Quicken and QuickBooks are accounting tools developed by Intuit, the financial software company behind TurboTax and Nerd Wallet. Intuit still owns QuickBooks, but sold Quicken in 2016.

QuickBooks typically is used for small and medium-sized businesses, but not ones that have billions of dollars in revenue or assets under management, like FTX and its affiliates did.

Read the original article on Business Insider

Rail workers are rallying nationwide after both Congress and management refused them paid sick days, showing that the battle for time off isn't over

Tue, 12/13/2022 - 1:32pm

, or at

A worker rides a rail car at a BNSF rail crossing in Saginaw, Texas, Wednesday, Sept. 14, 2022. Most railroad workers weren't surprised that Congress intervened this month to block a railroad strike, but they were disappointed because they say the deals lawmakers imposed didn't do enough to address their quality of life concerns about demanding schedules and the lack of paid sick time.
  • Rail workers are rallying across the country for paid sick leave, including at the Capitol.
  • The actions come after Congress voted through a contract with rail management with just one additional personal day.
  • Some lawmakers are urging the Biden administration to use executive power to guarantee sick days in the sector.

Rail workers won't give up sick leave and better conditions without a fight.

Even after Congress voted through a contract that left workers with just one additional personal day, workers are still pushing for more. And some lawmakers are going straight to the White House.

The rail worker actions are organized by SMART-TD,  the International Association of Sheet Metal, Air, Rail and Transportation Workers Transportation Division, the country's largest rail union. Workers will rally at the Capitol in DC, where Senator Bernie Sanders is slated to speak, and in states ranging from Massachusetts to Utah.

"Our plan today is just to make people more aware they just recently signed a contract where we're not getting sick time. We're probably one of the only trades that doesn't have sick time," Chris Weldon, the state legislative director for New England SMART-TD, told Insider as he traveled to the Massachusetts rally.

At President Joe Biden's urging, Congress voted to pass a contract between rail management and workers in an effort to avert an economy-rattling strike. A rail walkout — which workers were prepared to do over paid sick leave — would've strained the supply chain and potentially jeopardized access to clean drinking water. However, a progressive-backed proposal to tack seven paid sick days onto that contract did not pick up enough votes to pass. 

"The American people should know that while this round of collective bargaining is over, the underlying issues facing the workforce and rail customers remain," the AFL-CIO Transportation Trades Department (TTD) said in a statement.

In addition to worker rallies, Sanders and more than 70 other members of the House and Senate have called on the Biden administration to use different executive avenues to give workers sick leave. One potential action could be issuing an executive order, similar to the one that President Barack Obama signed in 2015, which granted paid sick leave to federal contractors — but did not include rail workers, even though they are technically included in that category

"It is literally beyond belief that rail workers are not guaranteed this basic and fundamental human right. Therefore, we urge you and your administration to do everything within your authority to guarantee rail workers the seven paid
sick days that they desperately need through executive action," Sanders and the other legislators wrote in a letter to the White House.

"Expanding paid sick leave access is a priority for President Biden," a White House spokesperson told Insider. "He's pressed proposals to advance the cause of paid leave for all workers throughout his two years in office, and he'll continue to do so."

Rail union officials told CNN that they've been in discussion with the administration about a potential executive order, and reportedly are "hopeful action could be forthcoming."

"Rail workers care about their industry and want to see it grow and expand. We don't want to see the railroads hurt our supply chain either by causing the work conditions and the lack of sick leave to be so bad that people leave the industry and hurt the economy," Michael Paul Lindsey, a locomotive engineer in Idaho who is a steering-committee member for Railroad Workers United, told Insider.

There are 115,000 union-eligible rail workers across the US who prepared to walk out. They keep the trains running that ship everything from food to chemicals to cars — goods that touch every aspect of the American economy, and its consumers. A strike over sick leave would have been acutely felt across the US.

"We want to see our industry thrive and grow because it's good for the economy, and these rallies are about helping the industry — not hindering the industry," Lindsey said.

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Moderna just used a personalized vaccine to treat cancer, and it could signal a major breakthrough in how we treat the disease

Tue, 12/13/2022 - 1:28pm
Stéphane Bancel, the CEO of Moderna.
  • Moderna's cancer vaccine lowered the risk of death or skin-cancer recurrence in a midstage study.
  • Analysts say the vaccine's long-term success still needs to be proven. 
  • "Now we are an oncology company," Moderna CEO Stéphane Bancel told Insider.

The biotech company Moderna just announced a significant advance in its efforts to treat cancer.

Moderna said Tuesday its personalized cancer-vaccine program succeeded in a midstage study of skin-cancer patients, affirming that its messenger RNA technology can be a game changer beyond COVID-19 vaccines. Investors were delighted by the news, sending Moderna's stock price up 21% by midday Tuesday.

The recent study treated 157 patients with serious cases of melanoma, a common type of skin cancer. The patients had surgery to remove their cancer and then received treatment with either just Merck's cancer drug Keytruda, the current standard of care, or Keytruda and Moderna's vaccine. Moderna designed each vaccine to the unique DNA of each person's tumor through a largely automated laboratory process. The group that got Moderna's vaccine had a 44% reduction in the rate of cancer recurrence and death compared to the trial participants who just got Keytruda. 

The Cambridge, Massachusetts-based biotech vaulted to prominence in 2020 by developing one of the first coronavirus vaccines using its mRNA technology. The coronavirus vaccine was the first approved product for Moderna, which was founded in 2010. Moderna's CEO Stéphane Bancel compared the cancer study results to the initial outbreak of COVID-19, when Moderna scrambled to respond and develop a vaccine. 

"It's, for me, a COVID-like moment going back to January 2020," he said to Insider. "It's the same thing for me. The enemy now is cancer. We know the technology works." 

Moderna's CEO sees a bright future for cancer vaccines

Bancel said Moderna's mRNA approach is the key to its success. Moderna uses mRNA to get inside immune cells and instruct those cells to produce particular proteins that can help fight that person's cancer. Bancel said he sees massive potential for this approach, with a market that could surpass its coronavirus vaccine. 

"This could be as big as Keytruda or bigger," he added, referencing Merck's blockbuster cancer therapy that brought in $15.5 billion in sales through the first nine months of 2022.

"Now we are an oncology company," Bancel said, "and we might be one of the biggest oncology companies down the road."

Bancel said Moderna and its partner, Merck, would launch multiple late-stage studies in 2023 to test the cancer vaccine in not just melanoma patients but other types of cancer. Merck paid $250 million earlier this year to jointly develop Moderna's vaccine, extending a partnership between the two drugmakers that began in 2016. 

But these trials will likely take years to finish, Bancel acknowledged, meaning potential FDA approval and commercial launch won't happen in the near future.

Analysts are excited but cautious about the vaccine's long-term success

Daina Graybosch, an SVB Securities analyst who covers Merck, said in a Tuesday note that the results exceeded her expectations, but she wants to see more detailed results than what was provided in Moderna and Merck's press release. Study results have yet to be presented at a conference or published in a journal. Graybosch cautioned that other experimental cancer drugs showed promise in Phase 2 studies only to disappoint in Phase 3. 

Brad Loncar, a biotech investor who runs an exchange-traded fund tracking immuno-oncology companies, told Insider that Moderna made a good decision in focusing on a narrower patient group who had surgery to remove their cancer first. But Loncar added other types of cancer are harder to treat than melanoma, which he called a "low-hanging fruit" for immunotherapies.

"The fact it succeeded in melanoma is definitely not a guarantee that it will succeed in other cancers," Loncar said.

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Elon Musk's mysterious $5.7 billion donation last year reportedly went to his Musk Foundation charity

Tue, 12/13/2022 - 1:21pm
  • Elon Musk gave away $5.7 billion in Tesla shares to his charity foundation last year, Bloomberg reported.
  • The gift was revealed earlier this year, but Musk did not name the charity receiving the funds.
  • The Musk Foundation distributed about $160 million to nonprofits in 2021, per Bloomberg.

Elon Musk's $5.7 billion mystery donation in 2021 went to the Musk Foundation, Bloomberg reported on Monday.

Earlier this year, it was revealed through a regulatory filing with the Securities and Exchange Commission (SEC) that the billionaire had given away more than 5 million Tesla shares in November 2021. Musk made the donation just days after the United Nations World Food Programme outlined how $6 billion of Musk's wealth could help fight world hunger, but at the time the filing did not specify the name of the charity that received Musk's gift.

By the end of last year, the Musk Foundation had about $9.4 billion in assets, Bloomberg reported, citing a tax filing the publication had obtained.

Musk did not respond to a request for comment from Insider ahead of publication.

The foundation distributed about $160 million last year — its most to date — per Bloomberg. The charity gifted $55 million to St. Jude Children's Research Hospital and another $54 million to the X Prize Foundation. Separately, Musk pledged $50 million to SpaceX's fundraiser for St. Jude Children's Research Hospital last year and partnered with X Prize in its $100 million award for carbon removal projects.

The publication reported that other donations from the Musk Foundation focused on non-profits and school donations in the regions surrounding SpaceX's Starbase in Boca Chica, Texas. The Musk Foundation also gifted $4 million to the Future of Life Institute, a nonprofit that says it is focused on "existential risks facing humanity," including artificial intelligence — an issue Musk has expressed concern about in the past.

The billionaire's charity only has three employees listed on its tax form: Musk, righthand man Jared Birchall, and Matilda Simon, per Bloomberg. Though, the publication reported that multiple grant recipients said former professional poker player Igor Kurganov was their main point of contact at the Musk Foundation.  The Wall Street Journal reported earlier this year that Kurganov became a top advisor to Musk over the course of the pandemic and has suggested the billionaire use "effective altruism" as a strategy for giving away his wealth. It's a strategy that has been heavily promoted by FTX founder Sam Bankman-Fried, who was arrested and charged with fraud by US authorities this week.

The Tesla CEO launched the Musk Foundation in 2002 with his brother Kimbal Musk. The organization has donated to anything from solar energy systems to space exploration, pediatrics and education, as well as artificial intelligence, per its website. In 2012, Musk also committed to The Giving Pledge, a campaign that was started by Bill Gates, Melinda French Gates, and Warren Buffett to encourage billionaires to contribute the majority of their fortune to philanthropy.

Read Bloomberg's full report on its website.

Read the original article on Business Insider

Kremlin slaps down Zelenskyy's call for a troop withdrawal, saying Ukraine must face 'realities' as Russia claims lands its forces don't even control

Tue, 12/13/2022 - 1:08pm
Russian President Vladimir Putin seen during the plenary session at the Eurasian Economic Summit, November,9,2022, in Bishkek, Kyrgyzstan.
  • The Kremlin rejected Zelenskyy's call for Russian troops to withdraw from Ukraine.
  • Peskov said Ukraine needed to accept "the realities" that have developed over the course of the war.
  • He was referencing Moscow's claims over Ukrainian territory, which Russian forces don't even fully control.

The Kremlin rejected Ukrainian President Volodymyr Zelenskyy's call for Russian troops to be pulled from Ukraine, urging Kyiv to accept Moscow's claims over Ukrainian lands that Russia's forces don't fully occupy before peace can be considered. 

"The Ukrainian side needs to take into account the realities that have developed during this time," Kremlin spokesperson Dmitry Peskov said on Tuesday, per Reuters.

"And these realities indicate that new subjects have appeared in the Russian Federation. They appeared as a result of referendums that took place in these territories. Without taking these new realities into account, no kind of progress is possible," Peskov added, referencing votes that have been decried around the world as a sham.

The referendums occurred in Ukrainian territories that Russian President Vladimir Putin illegally annexed in September. Russian forces did not fully control these regions when Putin announced the illegal annexations, and they have continued to lose ground to Ukraine's military ever since. In November, Russian troops retreated from Kherson, the first major city Russia's military seized after the invasion.

In short, Russia is calling on Ukraine to accept "realities" even as Moscow's rhetoric on the war is consistently at odds with the situation on the ground. 

Peskov's comments came after Zelenskyy on Monday said in an address to G7 leaders that "the occupier must leave," adding, "It will certainly happen. I see no reason why Russia should not do it now – at Christmas."

"The answer from Moscow will show what they really want — further confrontation with the world or finally cessation of the aggression. The one who brought the war upon us has to take it away," the Ukrainian leader argued. 

The war in Ukraine has not gone well for Russia, which is estimated to have suffered approximately 100,000 casualties since invading in late February.

The West has responded to the invasion by moving to isolate Moscow economically and politically, slapping Russia with crippling sanctions. As the situation in Ukraine looks increasingly grim for Russia, the Kremlin on Monday announced that Putin would not to hold his annual year-end press conference, a prevailing theory being that perhaps he hopes to avoid uncomfortable questions on the war.  

Read the original article on Business Insider

The most prominent election-deniers lost their races. But at least 177 have won so far.

Tue, 12/13/2022 - 1:07pm
Rep. Matt Gaetz, R-Fla., addresses attendees during the Turning Point USA Student Action Summit on July 23, 2022, in Tampa, Florida.
  • More than 370 GOP candidates on the ballot in the 2022 midterms denied or questioned the 2020 election results.
  • Certain Republicans could have major impacts on certifying the 2024 election in battleground states.
  • So far, at least 177 election deniers have won their races.

Hundreds of Republican candidates who were on the 2022 midterm ballot denied or have refused to accept the results of the 2020 presidential election.

More than 370 Republican candidates for the US Senate, House, and statewide offices have denied or questioned the 2020 results, according to a New York Times analysis published in mid-October.

Of the election deniers up for election, at least 177 have won their elections as of December 13 at 1:00 p.m. ET, according to Insider and Decision Desk HQ.

But many election deniers — at least 111 — have lost their races. Notably, two election-denying GOP candidates for governor — Tudor Dixon in Michigan and Doug Mastriano in Pennsylvania — lost by wide margins.

Election deniers who have won their races

High-profile Republican election deniers who've won their 2022 midterm races include Sen. Rand Paul of Kentucky. Paul previously said the 2020 election was stolen in "many ways."

Rep. Marjorie Taylor Greene, a staunch ally of Donald Trump and an avid 2020 election denier, was re-elected for her House seat in Georgia. Greene fueled election fraud rumors on Twitter while voters were still casting their 2022 midterm votes.

—Rep. Marjorie Taylor Greene

Sam Bankman-Fried is a world-class manipulator and the implosion of FTX is an 'old-school fraud,' Congressman says

Tue, 12/13/2022 - 1:02pm
Sam Bankman-Fried, founder and CEO of FTX, testifies during a Senate Committee hearing about "Examining Digital Assets: Risks, Regulation, and Innovation," on Capitol Hill in Washington, DC, on February 9, 2022
  • Sam Bankman-Fried is a world-class manipulator and the implosion of FTX was "old-school fraud," Patrick McHenry said.
  • "Fraudsters are going to defraud investors if they get any chance to do that," the Congressman said. 
  • The former FTX CEO was set to testify before Congress before his arrest late Monday. 

Sam Bankman-Fried is a world-class manipulator, and the implosion of FTX is an example of "old-school fraud," Congressman Patrick McHenry said on Tuesday.

"Fraudsters are going to defraud investors if they get any chance to do that," the North Carolina Representative said in an interview with CNBC. "So this is an old-school fraud with a new piece of technology."

The comments follow Bankman-Fried's arrest shortly before he was scheduled to testify to Congress about the collapse of FTX. Bankman-Fried said he would testify remotely, but was arrested Monday evening on multiple charges including fraud, money laundering, and conspiracy. 

Over the prior month, the disgraced crypto executive had been on a public apology tour, speaking to news outlets on the implosion of FTX's finances. Though Bankman-Fried has denied accusations of fraud, he notoriously told a Vox reporter "Fuck regulators," in an interview last month, which experts say could later incriminate him in court.

"It shows he was a manipulator of world-class capacity, and he was trying to pull off something that was light-touch regulation for his platform," McHenry said.

The Congressman emphasized the need for "durable" crypto regulation to protect investors and innovators in the industry, possibly referring to the fact that FTX International was an offshore exchange, meaning it was exempt from US protections. He was also critical of current SEC chairman Gary Gensler, who has taken a hands-off approach to crypto regulation. 

"Congress has to step in. What we've seen under the Gensler regime is, he said, 'come in and talk to me," McHenry said. "They referred to FTX as an unregulated crypto exchange. Well, there is no means to be an unregulated crypto exchange in the United states."

Read the original article on Business Insider

How to clear your Spotify cache to reclaim storage space, or remove all your downloaded music at once

Tue, 12/13/2022 - 12:42pm
Spotify can claim a lot of storage between its cache and, primarily, its downloaded files.
  • You can clear Spotify's cache and remove downloaded music to save storage space on your computer or mobile device.
  • To clear the app's cache, go to the Settings page within the Spotify app and click Clear cache in the Storage section. 
  • If you need additional storage space, you can also easily delete music stored on your device for offline listening.

Whether you listen to Spotify using an app on Windows, your Mac, iPhone, or Android device, the music service relies on downloading lots of data more or less continuously to stream music efficiently. The app has a few tricks up its sleeves to improve performance, including caching some content locally on your phone or computer hard drive. 

If you need to reclaim storage space or are troubleshooting a problem with your device, you might need to clear this cache, which can get quite large if you listen to a lot of music. In every case, you can clear just the cache, or if you need to recover a lot of space, you can also delete all music you've downloaded for offline listening. 

How to clear Spotify's cache on the desktop

1. In the Spotify app on your Windows or Mac desktop, click your account name at the top right and then, in the dropdown menu, click Settings

Go to Spotify’s Settings page by clicking on your account name.

2. Scroll down to the Storage section. 

3. To the right of Cache, click Clear cache

4. If you need to recover additional storage space, click Remove all downloads, if you've downloaded music to your computer. 

You can clear your cache or delete downloaded tracks from the Settings page in the desktop app.How to clear Spotify's cache on Android

1. In the Spotify app on your Android device, tap the Settings icon (shaped like a gear) at the top right of the screen.

2. Scroll down to the Storage section. 

3. Tap Clear cache

4. If you have downloaded songs directly to your phone for offline listening and need to recover additional storage space, click Remove all downloads

Tap the Settings icon and then scroll down to the Storage section to find the option to Clear the cache.How to clear Spotify's cache on iPhone

1. In the Spotify app on your iPhone, tap the Settings icon (shaped like a gear) at the top right of the screen.

2. On the Settings page, tap Storage

3. Tap Clear cache

4. If you need to recover additional storage space and have downloaded songs directly to your iPhone for offline listening, click Remove all downloads

To clear the cache on iPhone, start at the Settings icon, then tap Storage to get to the Clear cache button.Read the original article on Business Insider

AirPods Pro (2nd Generation) review: Apple's best-sounding wireless earbuds to date

Tue, 12/13/2022 - 12:35pm

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Apple's latest AirPods Pro come with considerably better sound and noise cancelling over the original AirPods Pro.
  • The second-generation AirPods Pro are easily Apple's best-sounding earbuds to date. 
  • Upgrades include better overall sound and active noise cancellation. 
  • Apple's AirPods Pro are now competitive with other premium wireless earbuds from the likes of Sony and Bose.

Apple's second-generation AirPods Pro come three years after the originals were released, and they're a massive improvement on all the fronts that matter. 

The new AirPods Pro look identical to their predecessors, but the meaningful upgrades come with how they perform. You can thank Apple's all-new H2 chip for significantly improved sound quality, noise cancellation, and battery life, plus advanced features like "adaptive" transparency mode.

The original AirPods Pro are an excellent choice for Apple fans. But I'd argue the upgrades make the second-gen AirPods Pro the most logical one. While there are plenty of alternatives out there, Apple's flagship wireless earbuds are now among the best-in-class, and hard to beat if you own an iPhone.

What works
  • Improved sound and active noise cancellation
  • Onboard volume controls
  • Adaptive Transparency mode 
  • Redesigned charging case

What needs work
  • Pricey
  • Nearly identical with original AirPods Pro
  • Lightning connector
  • Lack of custom EQ controls
A familiar fit with a charging case that's easier to to findThe earbuds and charging case have a nearly identical design as the original AirPods Pro.

Aside from a few subtle tweaks to the positioning of the microphones and vents, the new AirPods Pro are nearly identical to their predecessor. If the fit of the original Pros treat you right, these will do the same.

In an effort to cater to more ears, Apple includes four eartips in the box instead of three.  The added extra-small silicone eartip should please anyone who found the fit of first-gen AirPods Pro too cramped in the ear. 

When it comes to design, the bigger headline is in the charging case. The case's new U1 chip enables "Precision Finding" with the Find My app, which gives you visual direction and distance indications to where it is. The charging case also features a speaker that plays a sound, so you get an aural indication, too. And as a little bonus, there's a new lanyard loop on the left edge of the case.

The charging case speaker also gives you audio notifications for low battery, and it chimes when you start charging or when pairing is complete. It's now water- and sweat-resistant, and as expected, it's also compatible with MagSafe.

Apple claims the second-gen AirPods Pro earbuds themselves have six hours battery life, and the MagSafe charging case can hold up to 30 hours of charge. That's an improvement over the original AirPods Pro, but about the same as other premium wireless earbuds. 

Impressive active noise cancelling and all-around better sound Improved sound quality and noise cancelling puts the AirPods Pro in the same league as premium wireless earbuds from Sony and Bose.

The second-generation AirPods Pro is the first pair of Apple earbuds powered by the H2 chip, which brings improved sound and active noise cancellation, adaptive transparency mode, and the aforementioned longer battery life. 

Compared to other premium wireless earbuds, the original AirPods Pro always sat at the bottom of the noise-cancellation performance chart. That's all changed with the second-gen Pros. Apple claims the second-gen AirPods Pro have up to twice the noise-cancelling performance as the originals, and I'm inclined to believe them — the world is much quieter when you want it to be, from the low hum of a commuter train and people chattering, to higher pitches from cars driving in the rain. 

While the active noise cancellation in Apple's latest premium wireless earbuds is very close to the top-tier performers, such as Sony's XM4 earbuds or Bose's QuietComfort Earbuds II, I wish Apple would let users customize the way they sound, at least as an option. I'd argue that even Jabra's midrange Elite 85Ts offer a better overall sound experience because it allows you to customize the sound to your liking with equalizer adjustments, while the AirPods don't. 

Rather, the second-gen AirPods Pro include Apple's Adaptive EQ that automatically adjusts the sound they produce based on the shape of your ears. It's a useful feature, but I'd like to see an option that lets users adjust their own EQ settings. 

The new AirPods Pro also come with Apple's personalized Spatial Audio (similar to Sony's 360 Reality Audio), a 360-degree surround sound format that results in an "immersive" listening experience. I can't say that I notice much of a difference whether I have the feature on or off, even with songs from Apple's "Made for Spatial Audio" playlist. 

But perhaps the best new feature powered by Apple's H2 chip is "adaptive" transparency feature, which automatically reduces the volume of loud noises when using transparency mode. It does an amazing job of letting sound in, but also blocking out loud noises, like a car horn. It's so good that the second-gen AirPods Pro are the only pair of earbuds where I actually use the transparency mode in earnest. 

Onboard volume controls are a welcome addition The second-gen AirPods Pro feature touch volume controls.

The original AirPods Pro came with pressure-sensitive controls for media playback controls and switching between noise cancellation or transparency modes, but they were notably lacking volume controls.

Apple fixed that with the second-gen AirPods Pro by adding touch sensors that let you swipe up or down the stems to adjust volume. No more having to reach for your phone to adjust the volume. 

Despite the short stems, it's surprisingly easy and intuitive to swipe up or down: Act like you're pinching the stems with your thumb and index finger, and simply swipe with your index finger.

Should you buy it?The second-gen AirPods Pro come highly recommended for iPhone users.

The second-gen AirPods Pro absolutely come recommended for the proverbial "most people," at least those willing to spend over $200 for premium wireless earbuds, and especially those entrenched in the Apple ecosystem with multiple Apple devices. 

Alongside the seamless pairing and switching between iOS devices, the second-gen AirPods Pro are a no-brainer for Apple loyalists with features like Precision Finding, as well as finer controls and options in the AirPods settings, which aren't available on other platforms. Even if you own a pair of the original AirPods Pro, you'll notice a big difference.

However, the AirPods Pro aren't necessarily the only option out there. If you don't own an iPhone, I'd still recommend looking into Sony's WF-1000XM4, Jabra's Elite 85T, or the Bose QC Earbuds II.

Read the original article on Business Insider

Tesla extends declines amid broader market rally as the EV maker sees stock slashed in half in 2022

Tue, 12/13/2022 - 12:31pm
Elon Musk in a Tesla Roadster.
  • Tesla stock slipped 5% Tuesday, extending Monday's losses even as the wider market rallied. 
  • Shares of the EV-maker have shed about 55% in 2022. 
  • Investors have taken a dim view of Elon Musk's Twitter acquisition, fearing it will distract from his Tesla duties. 

Tesla stock dropped more than 5% Tuesday, even as the broader market rallied on upbeat November inflation data

Shares of the electric vehicle-maker hovered around $162, and have lost 55% year-to-date. Tesla's market cap is at $513.96 billion, and has been slashed in half in 2022. 

According to Bloomberg data, Tesla is now trading at roughly 30 times projected earnings, it's lowest mark ever, as the company faces obstacles including waning demand in China as well as Elon Musk's entanglements with his recent acquisition of Twitter.

According to Wedbush's Dan Ives, Tesla now presents a prime target for activist investors because of its falling stock price. That could push the company into launching a stock buyback program, an idea Musk teased in Tesla's third-quarter earnings call. 

"We also believe activism will start to increase across the broader tech sector as names such as Salesforce and Tesla being two examples will face growing pressure around margins, buybacks, and strategic moves," Ives said in a Monday note.

Ives recently, too, has warned that Musk's involvement at Twitter has turned into a "circus show" that's created controversy on almost a daily basis.

While he warned that investors may fear Musk will sell more Tesla stock to fund efforts at Twitter, the strategist still rates the company at "Outperform," and gives it a $250 price target. 

"At the end of the day Musk is Tesla and Tesla is Musk," Ives said. "Any black eyes for Musk in the Street's view will be reflected in Tesla's stock."

Read the original article on Business Insider

Elon Musk lost the title of richest person in the world

Tue, 12/13/2022 - 12:30pm
Elon Musk (left) and Bernard Arnault (right).
  • LVMH CEO Bernard Arnault has become the richest person in the world, surpassing Elon Musk.
  • Musk has lost over $100 billion this year as Tesla's share continue to slide.
  • The Tesla CEO became the world's richest person in 2021 after overtaking Amazon founder Jeff Bezos.

Elon Musk is no longer the richest person in the world.

The Tesla CEO gave up the top spot on Forbes' Billionaires List to Bernard Arnault, the CEO of the French company that owns Louis Vuitton, last week. On Tuesday, Musk also temporarily lost the top spot on Bloomberg's Billionaires Index as the net worth of both men continues to be in flux.

Forbes currently estimates Arnault's fortune to be worth about $188.6 billion, while Musk's is valued at $176.3 billion. Meanwhile, Bloomberg showed Musk's net worth as about $1 billion higher than Arnault's, as of Tuesday afternoon.

Musk's wealth has fallen by more than $100 billion this year, following a sharp slide in Tesla shares, which accounts for the bulk of his fortune.

Tesla shares hit their lowest value to date on Tuesday. The electric-car maker's stock has plummeted more than 50% this year amid falling demand from China and Musk's preoccupation with Twitter. Last week, Tesla investors expressed concern that Twitter had become too much of a distraction for the carmaker's CEO. Musk also sold some of his Tesla holdings to help fund his $44 billion Twitter purchase.

Musk became the world's richest person last year after overtaking Amazon founder Jeff Bezos. At the time, Musk said he sent Bezos a silver medal to commemorate his victory.

Arnault is CEO and chairman of LVMH, the Paris-listed conglomerate that has become the world's biggest luxury group. It owns about 70 fashion and cosmetic brands including Sephora, Tiffany & Co, Givenchy, Christian Dior, Dom Perignon and Moët Hennessy and is worth 358 billion euros ($376 billion). 

Read the original article on Business Insider

How long can a Twitter video be? What you need to know

Tue, 12/13/2022 - 12:25pm
A Twitter Blue subscription significantly increases the length limit for video uploads.
  • For most users, Twitter limits videos to 140 seconds in length.
  • Even if your video is less than 140 seconds, be sure it's less than 512 MB in size.
  • Twitter Blue subscribers can tweet videos up to 10 minutes in length.

As the world's most well-known microblogging site, Twitter is all about broadcasting short, pithy messages. Tweets are limited to 280 characters, so it stands to reason that videos have a similarly restrictive limit on overall length. In fact, videos on Twitter are limited to 140 seconds (with an important exception). 

How long can a Twitter video be?

For most users, Twitter limits videos to 140 seconds (two minutes and 20 seconds). There's also a file size limit: videos can't exceed 512 MB in size.

Users who subscribe to the new Twitter Blue paid service, though, can publish longer videos. Twitter Blue supports videos up to 10 minutes in length. To take advantage of this, though, you need to sign up for Twitter Blue, which currently costs $8 per month for Android users and $11 per month for iOS users. 

In both cases, you can upload longer files, but Twitter requires you to trim the video to length before including it in a Tweet. When you select a video to include in a Tweet, Twitter automatically opens the video in a video editor, which you can use to trim it down to an acceptable length by dragging the edit bars at the start and end of the video. 

If your video is too long for a tweet, you can trim the start and end in Twitter's video editor.

Quick tip: To post longer videos to Twitter, you can upload your video to YouTube and then include a link to the YouTube video in your tweet.

Read the original article on Business Insider

Greece's top diplomat says NATO ally Turkey is acting like North Korea after Erdogan threatened to strike Athens with missiles

Tue, 12/13/2022 - 12:24pm
Turkish President Recep Tayyip Erdogan at NATO headquarters in Brussels, May 25, 2017.
  • Turkey's Erdogan recently threatened to strike the capital of Greece with ballistic missiles. 
  • In response, Greece's top diplomat accused its fellow NATO ally of acting like North Korea.
  • The two countries, which joined NATO together, have a historically troubled and rocky relationship. 

Greece's top diplomat accused NATO ally Turkey of bringing a "North Korean-style" attitude to the military alliance after Turkish President Recep Tayyip Erdogan threatened the country with missiles. 

"Threatening Greece with a missile attack by a NATO ally is both unacceptable and utterly condemnable," Greek Foreign Minister Nikos Dendias told reporters at the European Union in Brussels on Monday.

He added that "North Korean-style attitudes cannot and must not be allowed to enter into the North Atlantic Alliance," a nod to illegal weapons development, hostile rhetoric, missile launches, and other provocative military acts by Pyongyang widely condemned by neighboring South Korea and much of the West. 

Dendias' comments came shortly after Erdogan traveled over the weekend to a city in northern Turkey for a town hall meeting, where he said the country had started developing short-range ballistic missiles, the Associated Press reported. Erdogan said the development was "frightening" Greece.  

The Greeks "say 'It can hit Athens,'" Erdogan said, according to the report. "Of course it will. If you don't stay calm, if you try to buy things from the United States and other places [to arm)] the islands, a country like Turkey ... has to do something. "

Despite the fact that both countries are part of NATO — even joining the alliance together in 1952 — the two countries historically have endured a troubled and rocky relationship. Athens and Ankara have come close to war on several occasions, and ties between the two countries have only worsened in recent years. 

Their tensions are rooted in disputes surrounding islands in the Aegean and Eastern Mediterranean seas and include issues related to maritime boundaries, divided Cyprus, and militarization. 

In September, Erdogan accused Greece of occupying demilitarized islands in the Aegean Sea and threatened that Turkey could "come down suddenly one night" — a cryptic remark possibly hinting about a future attack. "Look at history, if you go further, the price will be heavy," he said. 

His comments drew sharp criticism from Greece, which warned its allies that such rhetoric could trigger another conflict in Europe, apparently alluding to Russia's unprovoked war in Ukraine. 

Ongoing tensions between Turkey and its NATO allies extend beyond Greece, too. In recent weeks, Turkey has targeted the US-backed Syrian Democratic Forces (SDF) in a bombing campaign after a deadly blast rocked Istanbul earlier in November. The campaign has added stress to the US partnership with the SDF, which Washington supports and works closely with in counterterrorism operations against ISIS. The US has also warned Turkey that its actions have put US forces at risk.

Read the original article on Business Insider

Taco Bell's latest plan to take on McDonald's includes keeping fries on the menu forever and committing to breakfast

Tue, 12/13/2022 - 12:13pm
Taco Bell's fries
  • Yum Brands, the parent of Taco Bell, KFC, and Pizza Hut, hosted an investor day conference Tuesday.

  • Taco Bell CEO Mark King spoke about competing with McDonald's at breakfast and lunch.
  • His playbook: make fries a forever menu item, and "commit" to breakfast. 

When Taco Bell debuted french fries in 2018, it became the chain's most popular new menu item – ousting Doritos Locos Tacos.

It sold more than 53 million orders in the first five weeks. The seasoned fries, served with a side of nacho cheese, have rotated on and off the menu ever since, becoming Taco Bell's version of the McDonald's McRib.

Now, Taco Bell wants to use the fan favorite to take on McDonald's at lunch.

During a Tuesday investor day presentation held by Yum Brands,  the owner of Taco Bell, KFC, and Pizza Hut, Taco Bell CEO Mark King said the brand is looking to make Nacho Fries a year-round menu item to compete with McDonald's at lunch.

"We're looking at bringing fries permanently to the menu," Mark King told investors on Tuesday. 

Taco Bell CEO Mark King

King called breakfast and lunch a $1 billion sales opportunity, pointing to a slide showing McDonald's as its main competitor.

The chain has dabbled with breakfast for several years, he said.  But "we have to commit" to breakfast to beat rivals like McDonald's, he added. 

"There's a big opportunity" for Taco Bell in breakfast and lunch, he said. 

McDonald's has dominated the fast-food breakfast wars despite competition from Wendy's, Burger King, and Taco Bell in recent years. During the pandemic, Taco Bell lost momentum at breakfast when it temporarily paused the morning meal offering as offices shut down. 

Taco Bell launched its first breakfast program, then dubbed FirstMeal, in 2012 after years of testing. Six years later, the Southern California-based chain, known for its Millennials and Gen Z appeal, added Nacho Fries to its menu.

Read the original article on Business Insider


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