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Insider Today: I lost $25K on TikTok

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Plus: Rising stars to watch, and bankers' AI shopping spree.

December 31, 2023 • 4 min read

Welcome back to our last Sunday edition of 2023! Wishing you all a happy new year!

What's on deck

But first: Meet some of the rising stars of the business world to watch in 2024.

Netflix, Courtesy of Aurelio Lopez, Jerome Shaw, Michael Elins, Tyler Le/BI

Dispatch

On the rise

David Trinh has the ability to allocate tens of billions in capital. Amber Atherton sold her startup to Discord and now backs seed-stage startups. Marissa Brooks jumped from being an executive assistant to director of development at CBS Studios in just a few years. 

You might not have heard of the trio before now, but each is a rising star in their industry. 

In recent months, Business Insider has highlighted those rising up the ranks and shaping change on Wall Street, in Silicon Valley, and in Hollywood. We’ve taken a look at Madison Avenue, the healthcare industry, and the real-estate business, too. 

I always enjoy these profiles. I’ve long felt that companies don’t do things, people do. That innovative new project didn’t just happen. Someone made it happen. I’m fascinated to learn about the people behind the latest product launch, entry into a new market, or fresh initiative.

It’s also true that often these younger executives are at the forefront of change. They aren’t just managing transformation from a distance, but they’re often the ones driving it or riding its wave. In that sense, these profiles can also offer a window into where an industry is headed.

In 2024, Business Insider will continue to report on the people behind the business stories you’re most interested in, with a sharp focus on what’s new and where the world is headed. 

I know a lot of you reading this are similarly pushing the world forward, by setting big goals, making plans to achieve them, and executing every day. I hope you’re able to achieve your ambitions, whatever they may be, in the year ahead.

Thank you for reading, and Happy New Year!

Hannah Latham; Octavio Jones; Christian Rodriguez; Laura MacPherson; Jenny Chang-Rodriguez/BI

2023 was the year of the weight-loss drug

This year, weight-loss drugs became fully integrated into society. 

Doctors have been using Ozempic as an off-label treatment for weight-loss since 2017. The once-weekly injection was developed to treat type 2 diabetes, with a side effect of melting pounds off at a stunning rate. 

In 2023, people began asking for the drug by name and speculating that celebrities were utilizing the shot, or similar drugs, like Wegovy or Mounjaro. Business Insider spoke with doctors and patients about the year spent obsessing over weight-loss drugs — and what the future could hold.

Inside the rise of weight-loss drugs.

Also read:

Nick Little for BI

Searching for companionship on TikTok

Cindi White, a 65-year-old retiree, was immediately enthralled when she first stumbled upon TikTok’s Live Matches in 2021. The popular battles have creators competing for likes and virtual gifts from their fans, who spend real money to send the virtual tokens. 

Over the course of the next year and a half, White said she devoted as much as 50 hours a week to livestreams — and that she had spent more than $25,000 by the end of 2023. White isn’t the only one. All over the internet, people say TikTok's Live Matches have a dark side.

How TikTok livestreaming turns into an addiction.

Also read:

Getty Images

The economy’s future is in the South

Population growth is among the key drivers of economic growth, and Americans are heading south. According to a December 7 report from Bank of America, the 16 states that make up the region accounted for 39% of the entire US population as of 2022. 

Newcomers to the area are entering a hot job market. Per BofA, the South has the highest job openings rate and the lowest unemployment rate of any region. It’s also seen the largest uptick in credit card spending. If these trends continue, economic and societal power could shift from coastal cities to southern hubs like Houston, Dallas, Nashville, and Miami.

A new era of the American economy.

Also read:

Mosaic ML, Splunk, ChatGPT, Nuance, Blueprism, Cloudera, Tyler Le/BI

Wall Street is ready for an AI shopping spree

Artificial intelligence was one of the biggest conversations of 2023 — and Wall Street's AI predictions are so big that some banks have created new roles to accommodate the sector. 

Business Insider compiled a list of 11 bankers who are best positioned to lead the pack when the AI-deals boom is unleashed. The group includes M&A advisors, equity-capital fundraisers, chairs of massive tech teams, and even bank founders.

Meet the bankers poised to lead the AI revolution.

This week's quote

"The parallels are quite similar."

— US Bank Wealth Management's chief equity strategist Terry Sandven, on whether we’re entering the second Roaring ‘20s.

More of this weeks top reads

The Insider Today Sunday team

Matt Turner, editor in chief of business, in New York. Jordan Parker Erb, editor, in New York. Dan DeFrancesco, deputy editor and anchor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Hayley Hudson, director, in Edinburgh. Lisa Ryan, executive editor, in New York.

Get in touch

insidertoday@insider.com

To read unlimited articles, subscribe to Business Insider.

Download the Business Insider app

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Weight-loss drugs' messy rise

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Insider Today: Kickstart your 2024

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Plus: Living in an Italian castle, and Midwest surprises.

December 30, 2023 • 3 min read

We made it to the last Saturday of the year. With less than 48 hours left in 2023, we’re bringing you a shorter edition of Insider Today.

It’s a resolution-focused newsletter so that you can get a head start on thinking about the year: quality of life, career mentalities, investing tips, and more.

What's on deck

Let’s level up next year.

3 things in

Travel

People in a park in Zurich, Switzerland.

Christian Ender/Getty Images

1. Cities with the highest quality of life are increasingly reserved for the wealthy. Cities like Zurich and Copenhagen were named some of the most livable by the Economist's Intelligence Unit. But the cost of living wasn’t considered in the calculations, and many of the top cities are the costliest.

2. Social media users say people at the airport are, like, super hot. Experts explained why some people describe feeling sexual tension with other travelers their age at the airport — a phenomenon known as an “airport crush.”

3. Travel hacks for an easier, cheaper vacation. A long-time traveler and travel editor shared her seven tips and tricks. They include capitalizing on free loyalty programs, asking nicely for help if you encounter a problem, and doing the math on transportation.

3 things in

Careers

Jordan Chiles.

REUTERS/Agustin Marcarian

1. Olympic gymnast Jordan Chiles shares her mentality heading into 2024. Chiles is eyeing the Paris Olympics and told Business Insider how she’s physically — and mentally — preparing. She’s hoping to block out external forces and embrace a “do it yourself” attitude.

2. This Slack executive is helping people cut their meeting time to two hours a day or less. Christina Janzer is counting on AI to help workers use their time more effectively in 2024: generating meeting summaries, completing routine tasks, and other meaningful productivity hacks.

3. Job-market predictions from the CEO of a job-search marketplace. Josh Brenner, the CEO of Hired, expects hiring to accelerate in 2024 and shared what job seekers need to do to keep up. Companies will prioritize people with specialized skills but might deprioritize diversity and inclusion, he said.

3 things in

Life

Stacks of hundred dollar bills standing like dominos.

PM Images/ Getty Images

1. Simple — but key — investing tips that reveal the real way to get ahead. Douglas Feldman, the chief investment officer of Stash, said everyone should know these six money tips going into the new year. They include considering short-term Treasurys and taking advantage of compounding effects.

2. Divorce attorney shares three New Year’s resolutions couples should make together. Disputes over finances and weak connections often lead to people ending their marriages. Resolutions to get on the same page can help prevent that. 

3. Starting “Dry January” on Monday? This reporter has done it for the past five years, and suggests going sober with a friend to stay on track.

Author Sarah Ahn (left); The author and her mother (right).

Courtesy of Sarah Ahn

For your bookmarks

Living with the ‘rents

Living with your parents into your 20s really isn’t that weird. That’s according to a 28-year-old social media coordinator and content creator who still lives at home. She says it should be destigmatized.

The Insider Today Saturday team

Diamond Naga Siu, senior reporter, in San Diego. Dan DeFrancesco, deputy editor and anchor, in New York. Hallam Bullock, editor, in London. Jordan Parker Erb, editor, in New York. Hayley Hudson, director, in Edinburgh. Lisa Ryan, executive editor, in New York.

Get in touch

insidertoday@insider.com

To read unlimited articles, subscribe to Insider.

Download the Insider app