Author: IQ TIMES MEDIA
CHARLOTTE, N.C. (AP) — Will Power, the consummate company man who won two IndyCar titles and the Indianapolis 500 for Roger Penske, will not return to Team Penske for an 18th season.The long-expected announcement was finally made Tuesday, two days after the season finale, and nearly a year after speculation began that Power would not be renewed when his contract expired as the team eyed a younger driver. Power turns 45 at the start of next season. “As we sat down to talk about our future together, Will felt that it was time for him to make a change beginning…
Amazon CEO Andy Jassy is reshaping how Amazon works.In the past year, the company has slashed layers of management, increasing worker-to-manager ratios by 15%. He’s enforced strict cost discipline, down to monitoring how employees’ company-issued phone use is work-related. He’s updated performance metrics and pay structures. He’s sent the vast majority of corporate employees back to the office five days a week. He’s created a “bureaucracy mailbox,” to which employees are encouraged to flag unnecessary processes or rules that could be streamlined or eliminated; Amazon says the initiative has already led to 375 changes.For Jassy, who took over from Jeff…
One AI company cares little about being your digital best friend.On an episode of the “20 VC” podcast published on Monday, Cohere cofounder Nick Frosst said that he’s not aiming to make the company’s large language model chatty and interesting.”When we train our model, we’re not training it to be an amazing conversationalist with you,” Frosst said. “We’re not training it to keep you interested and keep you engaged and occupied. We don’t have like engagement metrics or things like that.”The Canadian AI startup was founded in 2019 and focuses on building for other businesses, not for consumers. It competes…
Eight U.S. and Indian venture capital and private equity firms — including storied investors Accel, Blume Ventures, Celesta Capital, and Premji Invest — have formed an unusual coalition to back India’s deep tech startups, pledging more than $1 billion over the next decade to strengthen U.S.-India tech ties. The alliance addresses longstanding funding concerns. In April, Indian Commerce Minister Piyush Goyal drew criticism after slamming domestic startups for focusing on food delivery instead of innovation, contrasting them with Chinese firms in a presentation titled “India vs. China: The Startup Reality Check.” Several investors and founders countered that India lacks capital…
This as-told-to essay is based on a conversation with Advait Maybhate, a software engineer. The following has been edited for length and clarity. Business Insider has verified his employment and academic history.When I graduated from the University of Waterloo with my bachelor’s degree in 2023, I had done about a dozen tech internships.Internships are a big deal at Waterloo, and students usually do six during their time there. I started doing internships before I enrolled and took some gap semesters to squeeze in a couple more stints.To me, internships meant exploring varied fields, from gaming to fintech. I also got to…
Aging demographics, labor shortages, the adoption of GenAI, and the 2023 implementation of e-invoicing are driving companies to automate finance, tax, procurement, and HR in Japan. Yet only 16% of digital transformations succeed, and that’s only 4–11% in traditional industries. The main barriers? Weak leadership commitment, a rigid culture, and a lack of digital talent. LayerX offers an AI SaaS platform to help enterprises scale back-office automation. LayerX, a Japanese AI SaaS startup that enables businesses to cut back-office workload, has raised $100 million in a Series B round led by Technology Cross Ventures (TCV), marking the U.S. fund’s first…
SAN DIEGO (AP) — Padres reliever Jason Adam ruptured a tendon in his left quadriceps and was carted off the field Monday, a major blow to San Diego’s dominant bullpen.Adam was injured in the seventh inning of a 4-3 loss to the Baltimore Orioles. One of several All-Star relievers on the team, Adam said he still needs to get an MRI for confirmation “but that sounds like six to nine months, so the season’s probably done.”The injury comes as the Padres are chasing the first-place Los Angeles Dodgers in the NL West. The loss dropped the Padres 2 1/2 games…
NEW YORK (AP) — Jannik Sinner was so dominant Monday night at the U.S. Open that his opponent had to remind him after the match that he’s not that bad of a player.Sinner sure made Alexander Bublik look like one, though.Sinner overwhelmed the only player other than Carlos Alcaraz who has defeated him this season, routing Bublik 6-1, 6-1, 6-1 to return to the quarterfinals of the tournament he won last year.The top-seeded Sinner’s victory took just 1 hour, 21 minutes, the second-shortest completed match in the tournament. A first-round victory for Tomas Machac was a minute shorter.“At times I…
Anguilla hit the jackpot with its national website domain.Although US residents are likely used to visiting sites with .com, .org, and .edu, it’s common for other countries to use domains that reflect their names, like .uk in the United Kingdom or .cn in China.Anguilla, a British territory, also uses a country domain, and until the last few years, its .ai domain wasn’t remarkable.Industry insiders have been keeping an eye on how AI’s growth could impact Anguilla since 2023, as Business Insider previously reported. Now, as AI transforms the internet and our world, .ai is a moneymaker Anguilla never saw coming,…
CHAPEL HILL, N.C. (AP) — Bill Belichick’s first run as a college coach at North Carolina is officially underway. The NFL coaching great took the field Monday night for his college debut with the Tar Heels against TCU, sporting a familiar look from the pro sideline with a gray hoodie — only this one bearing the name “Carolina Football” in that distinctive shade of light blue.His Tar Heels got off to a sprint of a start, too. They marched 83 yards on the opening drive and found the end zone with Caleb Hood’s 8-yard run through the right side —…