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Halfway through the week! For the first time in American history, the House voted to vacate the Office of the Speaker, booting Kevin McCarthy from his job. So what happens next? Here’s a list of top Republicans who could be the next House speaker.
In today’s big story, we’re looking at the latest workplace trend, which is a new twist on an old favorite.
What’s on deck:
Markets: Meet the hedge fund that’s imposed some of the harshest noncompetes on Wall Street.Tech: Solving the loneliness epidemic has become the latest big bet for investors.Business: The solution to our housing crisis might be taking a page out of Tokyo’s book.
But first, let me tell you what you’re doing wrong.
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The big story
Screw you, pay me
Malte Mueller/Getty Images
Tired: Quit quitting.
Wired: Loud quitting.
No longer content to just skate by while collecting a paycheck, some workers are letting management know everything they’re doing wrong.
That’s the takeaway from this as-told-to essay, based on a conversation with a 31-year-old tech worker in New York. Since April, they’ve been openly questioning leadership, calling out management, and pushing back against their decisions.
And yes, we’ve got a term for it: “Loud quitting.”
They’re not alone. A June report from Gallup found that 18% of employees were “actively disengaged” at work.
And I bet you can guess the group that seems to have embraced loud quitting the most: Generation Z. Gen Zers are very comfortable telling their bosses what they’re doing wrong. A recent survey of Gen Z workers by Adobe found 74% are happy to give upward feedback to supervisors. Nearly 90% were OK talking about their job satisfaction at the workplace.
It’s been fascinating to watch various workplace trends unfold since the onset of the pandemic.
The Great Resignation! Boomerang employees! Quiet quitting!
I’ve largely viewed these efforts as a good thing. Yes, you should quit your job if you’re unhappy. And yes, you should try to get your job back if you regret leaving (and make more money this time around). And for God’s sake, let’s kill hustle culture.
That being said, there’s something to consider if you want to kick up a stink on your way out the door.
Sure, obvious and unjust issues at your company are worth highlighting. And feedback should always be a two-way street. But why bother fighting every decision if you’ve already got one foot out the door?
This is a defense of your colleagues more than your boss. In reality, they’ll probably have to help clean up the mess you leave behind. So, when all is said and done, you might be creating more work for your peers.
What do you think about this trend? I want to hear from you: insidertoday@insider.com.
3 things in markets
Getty Images; Alyssa Powell/Insider
One California hedge fund’s aggressive noncompetes could be a template for Wall Street. Restricting employees from working with rivals by offering paid leave is commonplace in finance, but The Voleon Group’s noncompetes haven’t always included payment, according to ex-employees. And the $5 billion quant fund has done so despite California labor laws banning the enforcement of noncompetes.
Ray Dalio said he doesn’t want to come back to run Bridgewater. The billionaire denied a recent New York Times report saying he was considering returning to the hedge fund he founded and ran for decades. “Don’t trust the media,” Dalio said while speaking at a conference.
Understanding this will-it-won’t-it recession. Depending on who you ask, the US economy is either likely to avoid a recession or about to face a really bad one. LinkedIn’s chief economist explains why a recession is still on the table.
3 things in tech
Arantza Pena Popo/Insider
The loneliness market: A gap that investors are trying to fill. New services — backed by VC money — are trying to help facilitate real-life interactions.
Meta has been using your public Insta and Facebook posts to train AI. The company just launched a cadre of virtual assistants. Its users helped train the new technology, but Meta said private messages and posts weren’t touched.
The roadblock of getting companies to buy AI products. Companies are clamoring for AI. But many startups are struggling to cross the sales finish line due to issues like data concerns and education on the basics of the tech.
3 things in business
Tyler Le/Insider
America could solve its housing crisis by following Tokyo’s example. Housing is getting less and less affordable in American cities — even in the Sunbelt. But affordability isn’t a problem in Tokyo, the world’s biggest city. And it’s largely thanks to giving developers a lot of power to build what they want, when they want.
JPMorgan’s CEO thinks our children will only work 3.5 days a week, thanks to AI. Many leaders have already been advocating for a four-day workweek, so the rise of AI could make the shortened week more possible.
Airbnb hosts are relieved the company is planning to give them more support. CEO Brian Chesky admitted that it “never fully built the foundation” to match its current size. Hosts revealed a variety of issues they’re excited to see addressed, including fake listings and fees.
In other news
Elon Musk (left) and Grimes (right).
Chesnot via Getty Images; Frazer Harrison via Getty Images
Singer Grimes is suing Elon Musk — with whom she has three children — over “parental relationship.”
A New York judge told Trump to stop posting online about his staff.
From cookies to beauty products, here are all the free birthday items one person has redeemed.
Gen Z workers want more training on hard skills related to their jobs, instead of soft skills like communication.
SoftBank-backed startup Sendoso completed another round of layoffs, its fourth in 16 months.
MrBeast called out TikTok for letting a deepfake version of him hawking $2 iPhones run wild on the app.
What’s happening today
Made by Google product launch. The live event will start at 10 a.m. ET. Google is expected to announce a variety of new devices, including the Pixel smartphone.
Goal! A documentary about David Beckham comes out on Netflix. “Beckham” tells the story of his upbringing in east London.
World Space Week kicks off. This week is meant to celebrate space science and technology worldwide. The 2023 theme is “Space and Sustainability.”
Earnings today: Tesco and other companies.
For your bookmarks
Disney World mistakes
Josephine Maida
A former Disney World employee reveals common mistakes that tourists make. The eight mistakes include buying merch too late in the day and giving up on your desired dining reservation.
The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Lisa Ryan, executive editor, in New York.