• Former high-flying San Francisco venture capitalist Michael Rothenberg is, for the first time, facing criminal charges over allegations that he defrauded investors in his venture fund.
• The US Attorney's office in Northern California announced the charges on Friday, after investigations by the FBI and the IRS criminal Investigations unit.
• A whistleblower came forward about Michael Rothenberg's business dealings back in 2016.
• In a settlement with the SEC, he was barred from the investment business for five years and a year later, ordered to pay more than $31 million in fines and disgorgement.
• Visit Business Insider's homepage for more stories.

Former high-flying venture capitalist Michael Rothenberg is, for the first time, facing criminal charges over allegations that he defrauded investors in his venture fund.

These new charges were announced Friday by the US Attorney's office for the Northern District of California, after investigations by the FBI and the IRS criminal investigations unit.

Rothenberg has been under fire for years over allegations that, instead of using the money he raised from investors to buy shares in startups, he found ways to funnel that money to himself or his venture firm. These new federal charges allege that he charged investors management fees above the contractual amount they agreed to; convinced investors to wire him $1.35 million to buy shares of a startup but then transferred the money elsewhere and never bought the stock, lied to a bank when applying for a loan, and other allegations.

All told, the US attorney's office says it is charging Rothenberg with 23 crimes for what it describes as "multiple schemes to defraud spanning from 2013 to 2016," including wire fraud, bank fraud, and making false statements to a bank. 

These criminal charges are the lastest troubles for Rothenberg, 36, who was once considered an outlandish but rising star of Silicon Valley's venture world.

He was known for his lavish parties and over-the-top lifestyle until one day, his newly-hired CFO told employees that the company was out of cash and could not pay them, as we reported back in 2016.

That same year, a whistleblower came forward to the Securities and Exchange Commission, as Business Insider reported at the time. The SEC then asked people to speak to the FBI and the US Attorney's office, a person close to the matter told us at the time. TechCrunch and Backchannel wrote exposés.

The SEC was first to act. In a 2018 settlement with Rothenberg that accused him of "misappropriating" millions, the SEC barred him from the brokerage and investment advisory business for five years. A year later, in 2019, a federal judge ordered Rothenberg to pay more than $31 million in fees stemming from the SEC case.

Friday's charges are the first criminal charges he has faced, meaning that he may be sentenced to prison if found guilty. Each wire fraud charge carries the potential of as much as 20 years in prison plus other penalties. The bank fraud and false statements to a bank each carry a maximum of 30 years in prison and a $1 million fine, according to the US attorney's press release.

One reason why it may have taken the US attorney four years after the whistleblower came forward to announce these charges is that Rothenberg's business affairs were a complex web of interrelated companies and transactions, believes one former employee, Drew Olanoff. Olanoff is a former Techcrunch reporter who was working for one of Rothenberg's companies during that time period when it ran out of cash.

"On my way out the door, I saw it unravel. And as it unraveled it became very clear, this was extremely complicated and complicated for a reason, to hide things," Olanoff told Business Insider.

Rothenberg did not respond to Business Insider's request for comment.

Join the conversation about this story »

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• UNest, an app that allows parents to set aside savings for their children, just raised a $9 million Series A.
• The round was led by Anthos Capital with participation from investors like Northwestern Mutual Future Ventures and former NBA all-star Baron Davis.
• UNest, which started as a 592 college savings app, has broadened its product offerings since its founding in 2018. Since February, UNest has added 25,000 accounts.
• Here's the 15-slide pitch deck UNest used to raise its Series A.
• Visit Business Insider's homepage for more stories.

Millennials aren't kids anymore. In fact, many have kids of their own. And UNest, founded by Ksenia Yudina, is targeting this cohort of new parents with a savings app.

UNest started as a college savings app, offering 529 college savings plans. Since its launch in 2018, the fintech has broadened its scope to include general savings accounts for kids.

"The feedback that we've heard from our existing users is that they don't want to save just for education," Yudina said. "They want to invest in their kids' futures, but be able to save for their first car or a down payment on a home."

Los Angeles-based UNest, which extended its seed round in January, announced a $9 million Series A on June 16 led by Anthos Capital with participation from investors like Northwestern Mutual Future Ventures and former NBA all-star Baron Davis.

As UNest has expanded its product offerings, its userbase has continued to grow, especially amid the coronavirus pandemic during which many parents are spending more time with their kids. Since February, UNest has added 25,000 accounts. The funding will be used to invest in more marketing and brand awareness as UNest looks to grow its userbase, Yudina said.

And the round was raised entirely remotely amid coronavirus shutdowns.

"The concern that most companies seem to have going into the pandemic is that there would be a lot of down rounds," Peter Mansfield, chief marketing officer at UNest, told Business Insider.

Given the economic volatility over the past few months, it's easy for founders to feel a bit bearish, Mansfield said. Instead, UNest was able to leverage the growth it had already experienced, resulting in a "a very big up round," he added.

"We're at a really fortunate spot because we didn't really need to raise," Mansfield said. "That probably gave us more confidence than the average bear to be able to go in there with our heads held high asking for a valuation that we thought was eminently fair."

While UNest's pitch deck itself has gone through a number of iterations, there are other factors to successful fundraising.

"Fundraising is all about relationship building," said Yudina. "You have to get in front of them, you have to show your energy and drive, and prove why you're the right person to solve this problem."

"The pitch deck follows. It's kind of like marketing materials, it's post-fact," Yudina said.

Part of UNest's confidence came from building out an experienced team after its seed round, Yudina said. While Yudina had prior experience as a financial advisor at Capital Group's American Funds, she didn't have experience at a fintech. Mansfield led marketing in the early days of Marqeta, and Mike Van Kempen, UNest's chief operating officer, joined UNest last year from Acorns. 

"We built a super strong team with actual experience in fintech," said Yudina, "and that's what investors like."

And proving you can deliver on product development and user acquisition is key when fundraising, Yudina said. For example, UNest launched with an iOS app, promising investors to build out an Android app, which it launched in February.

Here's the pitch deck UNest used to win over investors and raise its Series A.

SEE ALSO: College-savings startup U-Nest just added $1.5 million to its seed round. Its founder explains why she's hoping to one day be partnering with the type of Wall Street firm she started at.

SEE ALSO: One-click checkout startup Fast used this pitch deck to nab $20 million from investors like fintech giant Stripe. Here's a look at its vision for taking on Apple Pay.

• Microsoft has paused advertising spending on Facebook and Instagram, Axios reported Monday. 
• The news comes as other major advertisers halt ad spending on Facebook to protest the way the company moderates hate speech.
• Microsoft is not participating in the boycott, according to Axios, but is concerned about the content that its ads could appear next to on the social networks.
• Microsoft has yet to respond to a request to confirm the report.
• Are you a Microsoft employee? Contact this reporter via encrypted messaging app Signal (+1-425-344-8242) or email (astewart@businessinsider.com).
• Visit Business Insider's homepage for more stories.

Microsoft has paused advertising spending on Facebook and Instagram through at least August, the company confirmed Monday after Axios first reported the news, citing an internal chat transcript. 

The company first suspended advertising on the social networks in the US in May and more recently paused spending globally, Axios reported Monday. Microsoft confirmed the Axios report to Business Inisder.

Facebook's market value has dropped by $60 billion in the past two days as advertisers including Coca-Cola, Starbucks, and PepsiCo pause spending as part of a boycott in response to Facebook's inaction on hate speech.

Microsoft, according to the Axios report, is not participating in the boycott but is pausing the ad spending because it's concerned about where the company's ads will appear. The company reportedly cited "hate speech, pornography, terrorist content, etc." as examples of "inappropriate content," but, in the transcript Axios reviewed, did not explicitly say what kind of content it didn't want its ads to appear beside.

"Our experience tells us that the most impactful means to effect genuine, long-term change is through direct dialogue and meaningful action with our media partners, including the suspension of real marketing dollars," Microsoft CMO Chris Capossela said in an internal Yammer post, according to the Axios report. 

Got a tip? Contact this reporter via email at astewart@businessinsider.com, message her on Twitter @ashannstew, or send her a secure message through Signal at 425-344-8242.

SEE ALSO: 100 days that changed Microsoft: How Satya Nadella led the $1.4 trillion tech giant through the coronavirus pandemic

Join the conversation about this story »

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• Lululemon has agreed to acquire the exercise-tech startup Mirror for $500 million, the company announced on Monday.
• The athletic-apparel company invested in the startup last year and has a content partnership with the it.
• Mirror sells a $1,500 device of the same name that allows customers to participate in fitness classes at home.
• The acquisition comes as demand for streaming at-home workout classes has grown, particularly during the coronavirus pandemic.
• Visit Business Insider's homepage for more stories.

The workout-apparel brand Lululemon has agreed to acquire the at-home-exercise startup Mirror for $500 million, the company announced on Monday.

Lululemon Athletica Inc. said in a press release that the deal would help the apparel maker boost its "digital and interactive capabilities." It also comes after Lululemon invested in Mirror in October as part of a $34 million funding round led by Steve Cohen's hedge fund Point72.

Brynn Putnam, Mirror's founder and CEO, will stay on as the company's chief executive, and Mirror will operate as a standalone company within Lululemon. The transaction is expected to close in the second fiscal quarter of 2020.

In addition to the investment, Lululemon has also worked with Mirror through a content partnership that included sweat and meditation classes from the apparel company's global ambassadors on Mirror's platform.

Mirror, as its name implies, sells a $1,500 high-tech mirror that's meant to serve a sleek gym alternative for working out at home. The product helps customers keep track of their form during exercises and doubles as a screen for interactive workout classes.

The mirror can be controlled via a smartphone app, and users can see exercise stats on the mirror's screen. The company also expanded into personal training in October.

The deal comes as the demand for streaming workouts and specialized equipment meant to replicate the experience of participating in a boutique fitness class at home has risen in recent years, following the popularity of brands like Peloton.

For Lululemon, the acquisition could help the company further expand into digital fitness as the company faces heightened competition in athleisure from rivals like Nike.

It also comes as there's an increased interest in working out from home amid the coronavirus pandemic. Peloton, which makes high-end fitness bikes and treadmills and offers digital workout classes, said its sales were up 66%when it reported third-quarter earnings in early May.

Putnam said her dissatisfaction with other at-home workout platforms led her to create Mirror, which launched in 2018.

"It was a passive, one-way experience," Putnam said in a previous interview with Business Insider in reference to at-home workout apps she's tried in the past. "There was no interaction. There was no community. There was no progress reporting."

It's unclear how many units Mirror has sold, but Putnam told Business Insider last year that the company had sold Mirrors in every state in the US within a couple of months of its launch.

SEE ALSO: THE FUTURE OF FITNESS: An inside look at the winners and losers as the industry faces upheaval

Join the conversation about this story »

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• On Monday, YouTube announced the bans of many popular white supremacists, including David Duke, Richard Spencer, and Stefan Molyneux. 
• "We have strict policies prohibiting hate speech on YouTube, and terminate any channel that repeatedly or egregiously violates those policies," a YouTube spokesperson said in a statement.
• YouTube has faced criticism for what the independent research organization Data and Society called its "broadcasting" of "propaganda to young viewers." 
• The news comes the same day as Twitch suspended President Donald Trump's channel for violating "hateful conduct" policies and Reddit banned the group r/The_Donald, among others, for hate speech. 
• Visit Business Insider's homepage for more stories.

YouTube banned Richard Spencer, David Duke, Stefan Molyneux, and other popular white supremacist channels from the platform on Monday, citing their violations of hate speech guidelines.

"We have strict policies prohibiting hate speech on YouTube, and terminate any channel that repeatedly or egregiously violates those policies," a YouTube spokesperson said in a statement provided to Business Insider. Julia Alexander of The Verge first reported the news. 

Duke is a longtime Ku Klux Klan leader and neo-Nazi, according to the Southern Poverty Law Center; Spencer is the head of the National Policy Institute, a white supremacist lobbying organization and think tank, which was also removed from YouTube on Monday; and Molyneux is a far-right activist who advocates for "eugenics and white supremacism," according to the SPLC. The platform also banned the channel of the white nationalist group American Renaissance and its podcast channel.

Molyneux, who calls himself a philosopher, tweeted that his ban was an "egregious error." Spencer said he planned to appeal his ban, which he called a "systemic, coordinated effort." 

For years, YouTube has faced criticism for allowing the channels of white supremacists to thrive. A September 2018 report from the independent research organization Data and Society called YouTube "the single most important hub by which an extensive network of far-right influencers profit from broadcasting propaganda to young viewers."

In June 2019, YouTube, which is owned by Google, rolled out a hate speech policy overhaul. A YouTube spokesperson said that more than 25,000 channels had been removed for "violating our hate speech policies" in the year since. 

The news comes the same day that Reddit banned over 2,000 subreddits for hate speech, including r/the_donald, a pro-Trump group that's long been criticized for racist and offensive language. Former Reddit CEO Ellen Pao criticized the company in June for allowing the subreddit's "hate, racism, and violence" to continue on the platform.

"Reddit is a place for community and belonging, not for attacking people," the platform's current CEO Steve Huffman said on Monday, according to The New York Times. 

Also on Monday, livestreaming platform Twitch suspended President Trump's channel for "hateful conduct," using the president's language in campaign rally speeches as examples. 

• Read more:
• Reddit just banned r/The_Donald, the largest pro-Trump subreddit, as it cracks down on hate speech and targeting
• Conspiracy-theory encyclopedia Wikispooks is thriving during the coronavirus pandemic, seeing huge traffic gains from search engines
• Far-right civil war accelerationists called the Boogaloo Bois are appearing at protests around the country with guns and Hawaiian shirts
• Amazon's Twitch just suspended Trump's channel for violating 'hateful conduct' policies and cited his campaign speeches as the reason

Join the conversation about this story »

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• Disney Plus offers streaming access to a large collection of Marvel movies, along with brand-new original programming that takes fans deeper into the Marvel universe.  
• It costs $6.99 a month or $69.99 a year, and you can also also bundle Disney Plus with Hulu and ESPN+ for $12.99 a year.
• Here are all the Marvel movies and shows you can stream on Disney Plus, including upcoming series, like "The Falcon and the Winter Soldier, "WandaVision," and "Loki."
  
• See more: All the kids' movies you can stream on Disney Plus — from 'Snow White' to 'Frozen'

One of the biggest draws of Disney Plus is the huge library of Marvel movies you can watch right now. On top of the existing collection, several exclusive new Marvel shows are in the works as well. Classics, like "Iron Man," as well as upcoming shows, like "Loki," will all be in one place for unlimited streaming. 

More than 10 million people signed up for Disney Plus on the first day of its launch. Analysts predict that 18 million will sign up by the end of 2020, and Disney execs project anywhere from 60 million to 90 million global subscribers by 2024. 

Updated on 06/29/2020 by Steven Cohen: We've updated this article to reflect the recent release of "Avengers: Infinity War" on Disney Plus. We've also included revised details about the Disney Plus free trial promotion. 

What is Disney Plus and how much does it cost?

Disney Plus is Disney's ad-free streaming service with tons of movies and TV shows from Disney, Pixar, Marvel, Star Wars, National Geographic, and 20th Century Fox.

A monthly subscription costs $6.99/month, and an annual subscription costs $69.99 a year. A seven-day trial was originally offered for new subscribers, but this promotion is no longer available. There's also a $12.99 bundle with ESPN+ and Hulu.

Streaming is available on computers, tablets, smartphones, smart TVs, and media players with no limit on downloads (as long as your device has enough storage). 

We've broken down everything you need to know about the streaming service over here and all the package prices here.

What Marvel movies and shows can I watch?

Disney Plus is home to nearly every Marvel Cinematic Universe (MCU) movie released so far. With that said, certain titles will be added at a later date and a few films, like "Spider-Man: Homecoming," will not be included since they were produced by a different studio.

Titles like "Iron Man," "Captain Marvel," and "Avengers: Endgame" are available now, while movies like "Ant-Man and the Wasp" will roll out later this year. Upcoming Marvel films set for theatrical release, like "Black Widow" and "The Eternals," will also arrive on Disney Plus a few months after they hit home video formats.

Beyond the studio's movie lineup, new spin-off series focused on various Marvel characters will be available on Disney Plus as well. The first new Marvel shows are set to premiere later this year.

Loki will return with more of his mischief in a series aptly named "Loki," the Scarlet Witch will take us on a surreal spin in "WandaVision," and all sorts of alternative realities in the Marvel universe will be explored in the experimental animated series "What If?" There will also be shows centered around characters that are completely new to the MCU, including Ms. Marvel and She-Hulk. 

Between major films, exclusive series, and even reality shows, the Marvel library is shaping up quite nicely on Disney Plus.

What order should I watch the Marvel films in?

Though different Marvel movies take place at different points in the MCU's timeline, the best order to watch the movies in is the same order that they were originally released in theaters. The filmmakers designed the overarching storyline to be best viewed this way. 

A full breakdown of the Marvel movie release timeline can be found below, along with a full rundown of every Marvel film and show available on Disney Plus.

Here are all the Marvel movies and shows you can watch on Disney Plus:

SEE ALSO: How to get a free week of Disney+, Disney's new ad-free streaming service

SEE ALSO: Disney+ costs $7 a month on its own, but you can bundle it with Hulu and ESPN+ for an extra $6

SEE ALSO: All the kids' movies you can stream on Disney+ — from "Snow White" to "Frozen"

Marvel movies

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Below is a complete list of MCU movies in the order they were originally released. This is the order that we recommend watching the films in.

Due to existing licensing agreements, some Marvel movies are not yet available on Disney Plus, and certain films are not expected to arrive on the service at all. We've denoted the missing titles in bold, along with details on when/if they are coming to Disney Plus.

All of the other movies listed below are available to stream right now on Disney Plus.

• "Iron Man" (2008)
• "The Incredible Hulk" (2008) - Not planned for Disney Plus
• "Iron Man 2" (2010) 
• "Thor" (2011)
• "Captain America: The First Avenger" (2011)
• "The Avengers" (2012)
• "Iron Man 3" (2013)
• "Thor: The Dark World" (2013)
• "Captain America: The Winter Soldier" (2014)
• "Guardians of the Galaxy" (2014)
• "Avengers: Age of Ultron" (2015)
• "Ant-Man" (2015)
• "Captain America: Civil War" (2016)
• "Doctor Strange" (2016)
• "Guardians of the Galaxy Vol. 2" (2017)
• "Spider-Man: Homecoming" (2017) - Not planned for Disney Plus
• "Thor: Ragnarok" (2017)
• "Black Panther" (2018)
• "Avengers: Infinity War" (2018)
• "Ant-Man and the Wasp" (2018) - Coming to Disney Plus on August 14, 2020
• "Captain Marvel" (2019)
• "Avengers: Endgame" (2019)
• "Spider-Man: Far from Home" (2019) - Not planned for Disney Plus

Marvel TV shows - currently available

• "Spider-Woman" (1979)
• "Spider-Man" (1981)
• "Spider-Man and His Amazing Friends" (1981)
• "X-Men: The Series" (1992)
• "Iron Man" (1994)
• "Fantastic Four" (1994)
• "Spider-Man"(1994)
• "The Incredible Hulk" (1996)
• "The Silver Surfer" (1998)
• "Avengers: United They Stand" (1999)
• "Spider-Man Unlimited" (1999)
• "X-Men: Evolution" (2000)
• "Fantastic Four: World's Greatest Heroes" (2006)
• "Iron Man: Armored Adventures" (2008)
• "Wolverine and the X-Men" (2009)
• "The Super Hero Squad" (2009)
• "The Avengers: Earth's Mightiest Heroes" (2010)
• "Marvel's Ultimate Spider-Man" (2012)
• "Hulk and the Agents of S.M.A.S.H." (2013)
• "Avengers Assemble" (2013)
• "Agent Carter" (2015)
• "Marvel's Guardians of the Galaxy" (2015)
• "Spider-Man (2017)
• "Inhumans" (2017)
• "Runaways" (2017)
• "Marvel Rising: Secret Warriors" (2018)

'Marvel Hero Project' - Now available

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One of the reality programs on Disney Plus is "Marvel Hero Project," which highlights extraordinary kids who have helped their community.

In each episode, the heroic kids get surprised with the honor of being drawn as superheroes in their very own Marvel comic. The comics will then be available via Marvel Unlimited and the Marvel Digital Comic Store for free.

'The Falcon and the Winter Soldier' - August 2020

"The Falcon and the Winter Soldier" will be the first of the new onslaught of Marvel shows to hit Disney Plus.

The new series reportedly will take place after Captain America passes the proverbial torch (in the form of his shield) to Sam Wilson, aka Falcon (Anthony Mackie). The Falcon will be accompanied by Bucky Barnes, aka Winter Soldier (Sebastian Stan), who will most likely be struggling with his past. 

'WandaVision' - December 2020

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"WandaVision" features Wanda Maximoff aka Scarlet Witch (Elizabeth Olsen) and Vision (Paul Bettany) post "Avengers: Endgame."

Characters like Jimmy Woo from "Ant-Man and the Wasp" (Randall Park) and Darcy Lewis (Kat Dennings) from "Thor: The Dark World" are also in the show, though the actual plot is still light on details.

'Loki' - Spring 2021

Spoiler alert: Loki and all his mischief is coming back.

This is excellent news for those who have been mourning Loki's death in "Avengers: Endgame." Tom Hiddleston returns as the Nordic trickster, most likely due to the tesseract that enables him to travel through space and time. 

'What If?' - Summer 2021

"What If?" is an animated series based in the Marvel Universe with the premise that changing one small thing in the narrative of the superheroes could change the course of the character and the world.

Major talent from Marvel include Chadwick Boseman (Black Panther), Josh Brolin (Thanos), Chris Hemsworth (Thor), Mark Ruffalo (the Hulk), Samuel L. Jackson (Nick Fury), and many more. 

'Hawkeye' - Fall 2021

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In late 2021, Hawkeye — a superhero without a superpower — will return to the screen in his own spin-off show.

In "Hawkeye," Clint Barton (Jeremy Renner) will mentor and bestow his knowledge upon young Avenger Kate Bishop. The character has yet to be officially cast but is rumored to be Hailee Steinfeld.  

'Ms. Marvel' - To be announced

"Ms. Marvel" will be a groundbreaking live-action show based on the comic by the same name. 

The show will feature Kamala Khan, Marvel's first Muslim superhero to star in her own solo comic series, as a Pakistani-American living with her devout family in New Jersey while dealing with her superpowers.

'She-Hulk' - To be announced

Marvel has yet to give much information about "She-Hulk," but we do know some details. 

The show will focus on Jennifer Walters, cousin of the Hulk, aka Bruce Banner. After Walters gets a blood transfusion from Banner, she gets some of the Hulk's gamma poisoning and becomes the She-Hulk. 

'Moon Knight' - To be announced

Another project that is light on details is the upcoming adventure series "Moon Knight." All we know is that it's based on a cloaked avenger named Mark Specter, who suffers from multiple personalities and questionable instincts. 

'Marvel's 616' – To be announced

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The documentary series "Marvel's 616" (a working title according to Disney) will do a deep dive into the history and culture behind Marvel's stories and characters. 

Read everything else you should know about Disney Plus here:

• Disney Plus: Everything you need to know about Disney's new ad-free streaming service
• How to get a free week of Disney Plus, Disney's new ad-free streaming service
• Disney Plus costs $7 a month on its own, but you can bundle it with Hulu and ESPN+ for an extra $6
• All the kids' movies you can stream on Disney Plus — from 'Snow White' to 'Frozen'
• All the new kids' shows you can watch on Disney Plus — from 'Vampirina' to the new reboot of 'Star Wars: The Clone Wars'
• All the new shows you can watch on Disney Plus — from 'The Mandalorian' to new Pixar shorts: The Clone Wars'
• All the Marvel movies and shows you can stream on Disney Plus — from "Iron Man" to the new 'Loki'
• Every single Star Wars movie is available on Disney Plus in 4K — here's how to watch
• All the Pixar films and shorts you can stream on Disney Plus — from 'Toy Story' to 'Inside Out'

• On June 29, 2020, Tesla celebrates its 10th year anniversary of going public.
• In 2010, Tesla offered 13.3 million shares at $17 per share.
• The company has permanently changed how the public perceives electric cars.
• Visit Business Insider's homepage for more stories.

Tesla celebrates its 10th anniversary of going public on June 29.

It's been a long 10 years, full of ups and downs. But it's fair to say that in 2020, Tesla has succeeded in putting electric cars on the radar for many buyers who once would have never considered them.

Tesla's journey has not always been easy. While the company has celebrated plenty of achievements, it has also experienced its fair share of setbacks. 

Here's a breakdown of the company's most defining moments since its founding. 

SEE ALSO: 21 incredible facts about Elon Musk's Gigafactory

July 2003: Tesla Motors was founded by a group of Silicon Valley engineers.

While Tesla CEO Elon Musk has led Tesla for the majority of its existence, he wasn't always at the helm of the company. 

Tesla, which is named after the famous physicist Nikola Tesla, was incorporated in 2003 by two engineers, Martin Eberhard and Marc Tarpenning. Other co-founders included JB Straubel, Ian Wright, and Elon Musk.

Musk led the company's Series A funding round in 2004, but at the time he served as the company's chairman. 

Eberhard served as CEO until August 2007, at which time he was reportedly asked to leave the company. 

On November 28, 2007 Ze'ev Drori, an Israeli engineer and businessman, was named CEO of the company. 

August 2, 2006: Elon Musk reveals Tesla's Master Plan.

Musk has never been shy about his intentions for Tesla. 

In 2006, Musk published a blog post entitled "The Secret Tesla Motors Master Plan (just between you and me)" in which he made it crystal clear that Tesla's mission is to speed up the adoption of a "solar electric economy."

"As you know, the initial product of Tesla Motors is a high-performance electric sports car called the Tesla Roadster," Musk said. 

"However, some readers may not be aware of the fact that our long term plan is to build a wide range of models, including affordably priced family cars. This is because the overarching purpose of Tesla Motors (and the reason I am funding the company) is to help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy, which I believe to be the primary, but not exclusive, sustainable solution." 

November 28, 2007: Ze'ev Drori named CEO.

Tesla announced Drori would take the helm at Tesla at the end of November. Drori officially took the reigns of the company on December 3, 2007. 

Drori, an Israeli engineer and tech veteran, was tasked with bringing Tesla's first car, the Roadster to market by the first quarter of 2008. 

February 1, 2008: Tesla hands over keys of first production Roadster.

Drori managed to bring the Roadster into production on time and the first vehicle was delivered to Musk, who was serving as the company's chairman at the time. 

To celebrate the occasion, Musk jumped in the Roadster (P1) and led four other prototype Roadsters packed with engineers down Highway 101 and University Avenue in Palo Alto, Calif. 

March 17, 2008: The company begins regular production of Roadster.

By mid-March, the company had met its goal of getting regular production of the Roadster up and running. 

At the time, Drori referred to the event as a "milestone for the company and a watershed for the new era of electric vehicles."

Tesla produced the Roadster, which priced at $109,000, until January 2012 and in total sold 2,450 Roadsters, according to a 2012 SEC filing. 

October 15, 2008: Tesla delays the Model S and Musk steps in to become the CEO of the company.

By October, Tesla was feeling pressure created by the financial crisis. 

"The global financial system has gone through the worst crisis since the Great Depression, and the effects are only beginning to wind their way through every facet of the economy. It's not an understatement to say that nearly every business will be impacted by what has unfolded in the past weeks, and this is true for Silicon Valley as well," Musk said at the time. 

Musk announced he would be taking over the company and that there would be layoffs. He also pushed back the launch date of the Model S to mid-2011. It was previously slated to go into production in 2010. 

November 3, 2008: Tesla secures a $40 million financing commitment helping it avoid bankruptcy.

By November 2008, the company's financial situation had worsened and Tesla was on the brink of bankruptcy. 

To help restore Tesla's coffers and speed up the production of the Tesla Roadster, the company's board of directors approved $40 million in convertible debt financing.

However, while the board approved the deal in November, the documents for the financing round weren't signed until December 2009, putting Tesla in a perilous situation. 

"Even then, we only narrowly survived...We actually closed the financing round on Christmas Eve 2008. It was the last hour of the last day that it was possible," Musk said during a Q&A at the Paris-Sorbonne University in December 2015. 

March 26, 2009: Tesla unveils Model S prototype.

Tesla unveiled its first electric sedan, the Model S, in March 2009 in Hawthorne, California at the SpaceX headquarters.  

The first generation Model S had a range of more than 300 miles per charge and could go from 0 to 60 mph in 5.5 seconds. 

By May 12, 2009, Tesla had already surpassed 1,000 reservations for the Model S.   

May 19, 2009: Daimler takes a 10% stake in Tesla for $50 million.

The $40 million financing round helped get Tesla through its darkest hour, but the company needed more resources to further develop its battery technology. 

Tesla and Daimler had already been in partnership for about a year working on an electric Smartcar. But by May, Daimler made a long-term bet on Tesla by taking a 10 percent stake in the company. The two companies agreed to work together on developing battery and electric drive systems.

"We are looking forward to a strategic cooperation in a number of areas including leveraging Daimler's engineering, production, and supply chain expertise. This will accelerate bringing our Tesla Model S to production and ensure that it is a superlative vehicle on all levels," Musk said at the time. 

In June 2009, Tesla also received a $465 million loan from the Department of Energy, which it repaid in full by May 2013. 

June 29, 2010: Tesla went public for $17 per share.

Tesla offered 13.3 million shares at $17 per share. The company raised $226.1 million. 

October 2, 2011: Elon Musk reveals Model S beta.

Tesla gave a glimpse of what it's future car would be like when it revealed a Model S prototype at an event in October at its Fremont factory for about 3,000 reservation holders. 

Musk revealed that the vehicle would get 320 miles per charge and go from 0 to 60 mph in 4.5 seconds. 

"The oil companies said electric cars can't work, but the truth is, they don't want them to work. But here it is. They would say this car is the equivalent of a unicorn. Well, tonight you had the opportunity to ride a unicorn," Musk said at the event. 

February 9, 2012: The Model X prototype is revealed.

Just a few months after the Model S reveal, Musk unveiled a prototype of the Model X, the company's first crossover SUV. 

The car's most novel feature, of course, was its Falcon Wing doors. 

The Model X was very well received. By Feb. 14, 2012, the company had amassed advance sales of more than $40 million. In fact, on Feb. 9, the night reservations opened up, traffic on TeslaMotors.com increased 2,800%, the company said. 

At the time of its reveal, Tesla aimed to have the Model X in production by 2014. However, it wouldn't actually really enter production until the end of 2015. 

June 22, 2012: Tesla begins delivery of Model S.

Tesla originally intended to deliver the Model S in 2011. However, the company didn't begin deliveries until late mid-2012. 

Tesla delivered the Model S to the first customers at an event at the Tesla factory in Freemont, California on June 22, 2012. 

June 12, 2014: Tesla open-sources its patents.

Musk further demonstrated his commitment to advancing the adoption of electric cars when he open-sourced Tesla's patents in 2014. 

At the time, Musk said that Tesla would not take legal actions against other companies who wanted to use the patents to create EVs. 

"Tesla Motors was created to accelerate the advent of sustainable transport. If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal," Musk said in a blog post.

"Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology."

September 4, 2014: Nevada is selected as the site of the company's Gigafactory.

Tesla announced its plans to build its giant battery factory, dubbed the Gigafactory, in February 2014 and it didn't wait long before looking for somewhere to build it. 

Tesla ultimately decided on a site in Storey, Nevada appropriately located along Electric Avenue. 

The original site was 1,000 acres, but in June 2015 the company purchased an additional 1,864 acres of adjacent land.

According to Tesla's website, the giant factory will help it dramatically cut the cost of its batteries by "using economies of scale, innovative manufacturing, reduction of waste, and the simple optimization of locating most manufacturing process under one roof."

Once the factory is fully operational by 2020, Tesla estimates the factory will enable it to reduce its battery prices by about 30%.

The lowered cost of the batteries will enable the company to price its Model 3 at about $35,000.

October 9, 2014: Elon Musk unveils Tesla's semi-autonomous self-driving system called Autopilot.

At a company event in October, Musk revealed a new dual-motor option for the Model S and announced that all Tesla vehicles produced beginning October 2014 were installed with Autopilot hardware. 

The system was composed of four parts: a forward-looking radar, a camera with image recognition, and sonar sensors that give the system a 360-degree view around the car.  

Musk said that some of the initial features included in the system would be automatic cruise control, lane-keeping assist, and active emergency braking.

April 30, 2015: Tesla reveals Powerwall, a giant rechargeable battery for your home, and its Powerpack, a battery for commercial use.

Tesla made a big push into energy when it unveiled the Powerpack and Powerwall at an event in Hawthorne, California in 2015.

Musk said that batteries were the "missing piece" of Tesla's business model and claimed that 160 million Powerpacks could power the United States.

The company followed up in a statement on its website declaring that "Tesla is not just an automotive company it's an energy innovation company."

September 29, 2015: Model X deliveries begin.

Tesla had originally planned to launch its Model X Crossover SUV in late 2013 or early 2014, but production delays forced the company to push back deliveries by almost two years. 

The vehicle's highly-specialized features, like its Falcon Wing doors and bioweapon defense mode air-filtration system, made the car complicated to manufacture on a mass scale. 

In fact, during Tesla's 2016 second-quarter earnings call, Musk emphasized just how dire the production situation had become. 

"We were in production hell," Musk said. "We climbed out of hell in June."

October 14, 2015: Tesla begins rolling out Autopilot.

Tesla began rolling out its  7.0 software update in October, which ultimately activated Autopilot features in cars equipped with the hardware. 

The feature initially enabled cars to drive themselves in certain conditions. 

However, in January 2016, the company rolled out its 7.1 software update which gave Autopilot-equipped vehicles more features, including the ability to self-park. 

March 31, 2016: Musk reveals the prototype of Tesla's first mass-market car, the Model 3.

Musk finally unveiled the much-anticipated Model 3 during the first quarter of 2016. 

While only a prototype, the car gave Tesla fans a good idea of what to expect with the production model. 

Musk announced that the car would get 215 miles or more per charge and go from 0-60 mph in less than six seconds. 

Tesla plans to launch the $35,000 car by the end of 2017. 

May 7, 2016: The first fatal Autopilot accident occurs.

The first fatal Autopilot accident occurred in May, but word didn't get out about the incident until more than a month later. 

On June 30, government regulators revealed they were looking into a tie between the fatal accident and Tesla's semi-autonomous Autopilot function. Tesla also issued a statement and Elon Musk shared his condolences, calling the incident a "tragic loss." 

According to Tesla's statement, the Model S was driving down a divided highway when a tractor-trailer cut across the highway perpendicular to the vehicle. 

"Neither Autopilot nor the driver noticed the white side of the tractor-trailer against a brightly lit sky, so the brake was not applied. The high ride height of the trailer combined with its positioning across the road and the extremely rare circumstances of the impact caused the Model S to pass under the trailer, with the bottom of the trailer impacting the windshield of the Model S," Tesla said in its blog post. 

June 21, 2016: Tesla announces plans to purchase Solar City for $2.6 billion.

The company made a $2.6 billion bid to acquire SolarCity, a solar installation company run by Musk's cousin. 

Not surprisingly, the deal was controversial from the start, primarily because SolarCity was about $3 billion in debt and the deal was seen as a bailout. 

Further complicating the matter, Musk was also the chairman of the company. 

July 20, 2016: Elon Musk reveals Tesla Masterplan Part Deux.

In July, Musk finally revealed the second part of his company's "master plan," a plan which focuses on four key goals: 

1. Develop "stunning" solar roofs that seamlessly integrate with Tesla's battery storage.

2. Roll out more affordable vehicles "to address all major segments."

3. Advance its self-driving technology so that it is "ten times safer" than manual driving. 

4. Roll out a car-sharing program that enables Tesla owners to make money by renting out their autonomous car. 

Musk's plans for an autonomous "shared-fleet" program were especially interesting.

Musk said that Tesla owners will be able to add their vehicle to the shared fleet and start making money by simply tapping a button on their Tesla phone app. 

"It generate income for you while you're at work or on vacation, significantly offsetting and at times potentially exceeding the monthly loan or lease cost," Musk said in a company blog post. "This dramatically lowers the true cost of ownership to the point where almost anyone could own a Tesla."

Nov. 8, 2016: Tesla buys a German engineering company to help it push further into automation.

Musk made it clear in early 2016 that automation was the future for Tesla. 

During a shareholder meeting in June, Musk said that he saw a huge opportunity in "building the machine that makes the machine." 

Musk reiterated these comments in September during an interview with Y Combinator's Sam Altman. 

"The biggest epiphany I've had this year is that what really matters is the machine that builds the machine, the factory," he said. "And that this is at least two orders of magnitude harder than the vehicle itself."

So it wasn't all that surprising when Tesla announced it was buying Grohmann Engineering, a German engineering firm that specializes in designing systems for manufacturing automation. 

November 21, 2016: Tesla officially gets into the solar business.

After months of criticism, Tesla was finally able to close its deal with SolarCity in November. 

Both SolarCity and Tesla had a special meeting for shareholders to vote on the deal and according to a statement from Tesla, more than 85% of its shareholders voted in favor of the merger. 

Both Musk and Rive recused themselves from the vote. 

The deal was worth about $2 billion and Tesla absorbed SolarCity's $3 billion in debt.

January 19, 2017: The federal government finds no defect with Tesla Autopilot.

After a six-month investigation, Tesla could finally let out a sigh of relief. 

In January 2017, federal regulators closed their investigation into the first Autopilot fatality and said that they had found no defects with the system. 

February 1, 2017: Tesla officially changes its name.

Tesla may have officially changed its name earlier this week, but its new identity had actually been in the works for a while.

In February 2016, CEO Elon Musk tweeted about acquiring the domain. And in July the company shortened its website from teslamotors.com to just Tesla.com.

But on Wednesday the company said in a filing with the SEC that the company was officially changing its corporate title to just Tesla Inc, bringing the company into a new era of being an energy company. 

July 29, 2017: Musk says Model 3 production will be "at least six months of production hell"

During a press conference before a Model 3 handover event in July, Musk said, "We're going to go through at least six months of production hell."

The company expected to produce 500,000 Model 3 in 2018. 

Musk responded to a question from Business Insider by saying that the "anticipated Model 3 production hell will be less hellish than the hells the company endured with its previous three vehicles, the original Roadster, the Model S sedan, and the Model X SUV."

October 6, 2017: Reports arise claiming that parts of the Tesla Model 3 are being built by hand

On October 6, 2017, the Wall Street Journal published a report where Tesla blamed Model 3 production delays on "production bottlenecks." 

The outlet cited unnamed sources as saying that while the Model 3's production started in early July of that year, the company's assembly line "still wasn't fully ready as of a few weeks ago." 

Large parts of the car were being put together by hand, the people said.

Since the Model's launch in July, the company gave an original target of producing around 1,600 cars by October, reported The Verge. "Tesla has produced 260 Model 3s since the car's launch this summer," according to the outlet. "Of those produced, 220 were delivered."

November 16, 2017: Tesla unveils the Tesla Semi truck concept

At an event at Tesla's Hawthorne, California, facility, the automaker showed off its Semi truck concept. With a center-mounted seat, the Semi promised a range of 500 miles and a 400-mile range after 30 minutes of charging. Musk even claimed it would have self-driving capabilities.

November 16, 2017: Tesla also unveils the Tesla Roadster concept

At the Tesla Semi's unveiling, the company also took the opportunity to sneak another unveiling on stage: the Tesla Roadster concept. 

A new version of the original Tesla sports car, its price was said to start at either $200,000 or $250,000, depending on which version customers requested. Musk touted estimated acceleration speeds of just 1.9 seconds from zero to 60 mph and a quarter-mile time of 8.9 seconds.

February 6, 2018: SpaceX launches the Falcon Heavy Rocket into space, along with Musk's Tesla Roadster

SpaceX successfully launched its Falcon Heavy Rocket into space. It would hopefully carry its payload — Musk's red Tesla Roadster — into Mars orbit. A dummy driver named "Starman," wearing the SpaceX spacesuit sits at the driver's seat.  

According to an Inc. Magazine story from February 6, 2020, the Roadster is traveling at a rate of more than 6,000 mph and is 215.6 million miles from our planet. The outlet notes that it is 96.1 million miles from Mars.

March 23, 2018: A Tesla Model X with Autopilot engaged crashes into a highway barrier, killing the driver

After collecting data on the fatal crash in Mountain View, California, Tesla concluded that Autopilot had been engaged before the collision. Business Insider reported that Tesla said the driver had been given "several visual and one audible hands-on warning" and that the system did not detect the driver's hands on the steering wheel "six seconds prior to the collision."

The collision resulted in an investigation into the incident by the National Transportation Safety Board. 

The NTSB concluded its investigation in February 2020 and said that Tesla's Autopilot and an inattentive driver were both possible factors in the crash.

August 7, 2018: Musk tweets that he is "considering taking Tesla private at $420" a share

He also said that he'd "secured" funding. 

The tweet was controversial, to say the least. Business Insider reported at the time that "Fox Business and The New York Times reported that the SEC had sent subpoenas to Tesla concerning Tesla's plans to explore going private and Musk's statements about the process."

Later that month, on August 24, Musk said that Tesla would stay a publicly-traded company.

September 27, 2018: The SEC sues Musk on the charges that he'd made "false and misleading statements" about taking Tesla private

The agency accused Musk of misleading the public, claiming that he knew he didn't have a deal to take Tesla private. Furthermore, it sought to bar him from being the CEO of a public company. 

Eventually, the two settled. 

Musk had to step down as the chairman of Tesla's board of directors of three years and had to pay a $20 million fine. Tesla also had to pay a $20 million fine, though it didn't receive fraud charges.

January 6, 2019: Tesla's Shanghai factory breaks ground

Tesla became the first western automaker to own a factory in China without a joint venture. 

The factory, located in Shanghai, would allow Tesla to "localize production of Model 3 and future models sold in China, with plans to eventually produce approximately 3,000 Model 3 vehicles per week in the initial phase and to ramp up to 500,000 vehicles per year when fully operational," reported CNBC. 

March 14, 2019: Tesla Model Y is announced

Tesla announced its new compact SUV and claimed it would be out in 2020. The Verge reported the Model Y to have a claimed range of 300 miles, be able to seat seven, and start at $47,000. The standard-range version, with a claimed 230-mile range, will cost $39,000 but will only be available in 2021.

November 21, 2019: Tesla Cybertruck is unveiled

Musk unveiled the Cybertruck at an event on November 21, 2019. The Cybertruck concept shown on stage marked the company's first passenger truck and boasted an estimated 14,000 pounds of towing capacity. 

Musk went on to claim that the tri-motor all-wheel-drive version of the truck would have a range of 500 miles.

All did not go off without a hitch, though, as a demonstration meant to show the strength of the "armored" glass used in the truck left two huge holes in it.

March 6, 2020: Musk calls panic over the COVID-19 pandemic "dumb"

In the first time he'd publicly spoken about the COVID-19 pandemic, Musk took to Twitter and called the panic surrounding the virus "dumb." This marked the beginning of an ongoing narrative Musk has regarding the virus that included downplaying its severity. 

Later on in the month, Business Insider reported that Tesla might have to close its Fremont factory because the Alameda County sheriff deemed it "not an essential business." Production at the plant was suspended on March 23. 

In interviews with Business Insider, Tesla employees said they were scared, frustrated, and confused over the company's response to the virus. 

In April, Musk posted a series of tweets protesting against COVID-19-related lockdowns. "Give people their freedom back!" he said. 

The tweets also came concurrently during Musk's woes that his Bay Area factory being unable to resume production would pose a "serious risk" to Tesla's business.

May 11, 2020: Despite local rules, Tesla starts production at Fremont factory again

Despite local stay-at-home orders in Alameda County, Musk tweeted that he would resume production again on May 11. Employees at Tesla's Fremont factory were allowed to remain at home as production returned to normal, but leaked emails from May 13 showed that they could lose unemployment benefits if they elected to do so.

May 18, 2020: The Fremont factory resumes "full production"

After a public spat with Alameda County, the factory resumed "full production" the week of May 18.

June 16, 2020: The Tesla Model S becomes the first EV to get a 400-mile range rated by the EPA

The Tesla Model S Long Range Plus achieved an EPA-rated range of 402 miles, making it the first EV to do so. The company achieved this through cutting down on weight and maximizing regenerative braking.

• You can change your Epic Games password from the Epic Games website in the "Account" section.
• If you've lost or forgotten your Epic Games password, try to log into the Epic Games website and choose "Forgot Your Password," then follow the instructions. 
• Be sure that your new password is strong and unique.
• Visit Business Insider's Tech Reference library for more stories.

Epic Games is a popular game developer and distributor, perhaps best known for the massive hit Fortnite.

To play any titles published by Epic Games or sold on the Epic Games Store, you'll need to have an account. And if you need to change the password on your Epic Games account, you can do that through any browser on your Mac or PC.

Check out the products mentioned in this article:

Apple Macbook Pro (From $1,299.00 at Apple)

Acer Chromebook 15 (From $179.99 at Walmart)

How to change your Epic Games password

1. In any web browser on your Mac or PC, open the Epic Games website.

2. Hover the mouse over your account avatar at the top-right of the screen and, in the drop-down menu, click "Account."

3. In the navigation pane on the left, click "Password & Security."

4. Enter your current password and then type a new password. In the "Retype New Password" field, confirm your new password. Then click "Save Changes."

How to reset your Epic Games password if you've forgotten it

If you don't know your current password, you can easily reset it. 

1. In any web browser, open the Epic Games webpage. 

2. At the top-right of the screen, click "Sign in."

3. Click "Sign in with Epic Games."

4. On the sign in page, click "Forgot Your Password."

5. Enter the email address associated with your account and click "Send Email."

6. Within a few minutes, you should receive an email with instructions to reset your password. Click "Reset Password" and then enter a new password to complete the change. 

When you change or reset your password, follow good security hygiene by creating a strong password. It should have a combination of upper- and lowercase letters, numbers, and symbols, and the longer it is, the better.

Related coverage from Tech Reference:

• 'How secure is my password?': How to test the strength and security of your passwords using an online password-security tool

• 6 tips to create a strong password for any site, and keep your data secure

• Yes, password managers are safe — here's why you should use them, and how they keep your data secure

• How often you should change your passwords, according to cybersecurity experts

• How to find all of your saved passwords on an iPhone, and edit or delete them

SEE ALSO: The best gaming PCs

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NOW WATCH: Why electric planes haven't taken off yet

• Tesla may avoid a loss during the second quarter, CEO Elon Musk told employees in an email on Monday.
• "Breaking even is looking super tight," he said. "Really makes a difference for every car you build and deliver. Please go all out to ensure victory!"
• While Tesla made a surprise profit in the first quarter of this year, analysts are predicting the electric-car maker will lose money in the second quarter, according to Marketwatch.
• Are you a current or former Tesla employee? Do you have an opinion about what it's like to work there? Contact this reporter at mmatousek@businessinsider.com, on Signal at 646-768-4712, or via his encrypted email address mmatousek@protonmail.com.
• Visit Business Insider's homepage for more stories.

Tesla may avoid losing money during the second quarter, CEO Elon Musk said in an email to employees on Monday. 

"Breaking even is looking super tight," he said. "Really makes a difference for every car you build and deliver. Please go all out to ensure victory!"

Electrek's Fred Lambert first reported on the email, and Business Insider viewed a photo of the message.

Tesla did not immediately respond to Business Insider's request for comment.

While Tesla posted a surprise profit in the first quarter of this year, its US car factory stopped production for two months because of a local shelter-in-place order associated with the COVID-19 pandemic. Analysts are predicting the electric-car maker will lose money in the second quarter, according to Marketwatch.

Though Tesla started making its Model Y SUV in January almost a year ahead of schedule, Musk referenced manufacturing and supply-chain issues for the vehicle earlier this month.

"We are doing reasonably well with S, X, and 3, but there are production and supply chain ramp challenges with Model Y, as is always the case for new products," Musk said in a separate internal email, referring to Tesla's other models.

Are you a current or former Tesla employee? Do you have an opinion about what it's like to work there? Contact this reporter at mmatousek@businessinsider.com, on Signal at 646-768-4712, or via his encrypted email address mmatousek@protonmail.com.

• Read more:
• Tesla may have an edge over its rivals during the COVID-19 crisis, an industry watcher says
• This tiny electric vehicle manufacturer has surged 521% in June as hype builds around Tesla competitor Nikola Motor
• If you want to buy a car post-coronavirus, you should consider a Tesla. Here are some pros and cons.
• Tesla is doing something we haven't seen since the early 20th century — rapidly building up a new industry. Here's how.

SEE ALSO: The CEO of Hyundai and Aptiv's autonomous-vehicle joint venture reveals the biggest mistake managers make when hiring new employees

Join the conversation about this story »

NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid

• Major social media platforms on Monday took action against Trump, pro-Trump groups, and far-right accounts for violating their policies against hate speech.
• Reddit banned r/The_Donald, the largest pro-Trump subreddit, Twitch suspended Trump's official account, and YouTube banned a number of prominent white supremacists' channels.
• The moves come as major advertisers are boycotting Facebook over the company's refusal to take more aggressive action against hate speech and misinformation.
• Visit Business Insider's homepage for more stories.

Reddit, Amazon subsidiary Twitch, and Google's YouTube took actions on Monday against prominent pro-Trump and far-right accounts and groups, as well as Trump himself, in an attempt to crack down on hate speech on their platforms.

Reddit banned more than 2,000 subreddits that regularly broke its rules about harassment, hate speech, and targeting, including r/The_Donald, a pro-Trump forum with more than 790,000 users.

"The community has consistently hosted and upvoted more rule-breaking content than average ... and its mods have refused to meet our most basic expectations," CEO Steve Huffman wrote in a blog post Monday.

The subreddits were banned as part of Reddit's enforcement of a new policy banning people or subreddits who "promote hate based on identity or vulnerability" or target "victims of a major violent event and their families."

Twitch, a video streaming platform popular among gamers, said it had temporarily suspended President Donald Trump's official account for violating its hateful-conduct rules.

"Hateful conduct is not allowed on Twitch," the company said in a statement. "In line with our policies, President Trump's channel has been issued a temporary suspension from Twitch for comments made on stream, and the offending content has been removed."

Twitch cited two examples of "offending content" from Trump's account, one from a campaign rally in 2016 and another from Trump's recent campaign event in Tulsa, Oklahoma, both of which showed the president making racist comments about Mexican Americans.

Also on Monday, YouTube announced it had banned the accounts of many popular white supremacists, including longtime Ku Klux Klan leader David Duke, Richard Spencer, and Stefan Molyneux, citing their violations of YouTube's hate speech guidelines.

"We have strict policies prohibiting hate speech on YouTube, and terminate any channel that repeatedly or egregiously violates those policies," a YouTube spokesperson said in a statement provided to Business Insider.

A YouTube spokesperson told The Verge, which first reported the news: "After updating our guidelines to better address supremacist content, we saw a 5x spike in video removals and have terminated over 25,000 channels for violating our hate speech policies."

Social media companies face growing pressure over hate speech

The actions by Reddit, Twitch, and YouTube came the same day that a long list of major brands announced they would pause advertising on Facebook and subsidiary Instagram, citing inaction around hate speech.

Civil rights groups including the NAACP and Anti-Defamation League called for the advertising boycott earlier this month following Facebook's refusal to take action against controversial posts by Trump in which he called those protesting the death of George Floyd "thugs" and suggested violence against them.

CEO Mark Zuckerberg defended Facebook's decision not to label or remove the posts at the time, while Twitter labeled identical tweets from Trump as "glorifying violence."

On Friday, after clothing retailer The North Face joined the Facebook boycott, other major brands including Verizon, Unilever, Honda, Coca-Cola, and Ben & Jerry's said they too would join.

In response, Facebook announced a slew of new rules around hate speech and misinformation, but so far, those changes don't appear to have appeased advertisers

On Monday, the boycott grew significantly as Starbucks, Adidas, PepsiCo, Denny's, Diageo, Conagra Foods, and Clorox said they would also pause ad spending on the platform.

Some of the companies also announced a pause on advertising across all social media platforms, citing the broader problem of their role in amplifying misinformation and hate speech.

Amid the coronavirus pandemic, racial justice protests, and upcoming elections, social media companies are facing growing pressure to get tougher on moderating harmful content and misinformation.

Aaron Holmes, Ben Gilbert, Rachel Greenspan, Isobel Asher Hamilton, and Rob Price contributed reporting for this story.

Join the conversation about this story »

NOW WATCH: Here's what it's like to travel during the coronavirus outbreak

• Google has announced that retailers will soon be able to list items for free at the top of Google search pages.
• The company had already changed the rules so that merchants could list items in the Google Shopping section for free – but they still had to pay for a slot at the top of Google Search. That's soon changing.
• The change gives Google power to fight back against Amazon's swelling ad business.
• Do you work at Google? You can contact this reporter securely using encrypted messaging app Signal (+1 628-228-1836) or encrypted email (hslangley@protonmail.com).
• Visit Business Insider's homepage for more stories.

Google has announced it will change its rules for shopping listings, by allowing merchants to promote their products at the top of search pages for free.

It's the latest move by the company to lure more sellers onto its platform and take the fight to Amazon. In April, Google changed the rules to more prominently display free product listings over paid ads in its Shopping section.

But starting this summer, Google will also allow merchants to display products at the top of its main Search pages for no cost.

In a blog post announcing the news, Google's commerce president Bill Ready said these listings will show up in Google's knowledge panels, which appear at the top of the page.

This will happen first on mobile, followed by desktop browsers down the road, he said.

"For many merchants, connecting with customers in a digital environment is still relatively new territory or a smaller part of their business," said Ready.

"However, consumer preference for online shopping has increased dramatically, and it's crucial that we help people find all the best options available and help merchants more easily connect with consumers online."

For Google, this could be a deft tactic to claw back some search advertising revenue from Amazon, which has benefited hugely from the boost in online shopping during the pandemic.

According to financial services firm Cowen, Amazon's ad business is expected to make $17.6 billion this year. It's cementing Amazon as the third major player in online advertising behind Google and Facebook, and an increasing threat to both.

The change also feasibly means a temporary dip in advertising revenue for Google as retailers will now be able to have their products appear in search without paying for the visibility.

The company is already preparing to possibly see its ad revenue decline for the first time as a result of the pandemic, as Business Insider previously reported.

But Google is clearly thinking about the long-term strategy, and this latest move is one way to keep ahead of the Amazon threat.

SEE ALSO: We looked back at Google's corporate web pages from 2009. They show how far the company's culture has changed in more than a decade.

Join the conversation about this story »

NOW WATCH: Pathologists debunk 13 coronavirus myths

• A website is allowing prospective tech employees to anonymously purchase a job referral from existing tech workers for $20 to $50 apiece.
• Rooftop Slushie, created by the makers of techie chat favorite Blind, has hosted 11,000 referral transactions since it was launched in 2019. Facebook and Google referrals are the most popular.
• The "vendors" are established employees at companies like Amazon, Google, and Twitter who can become verified on the website and vet candidate submissions before accepting the deal.
• The site's product manager told One Zero that the service helps improve a skilled candidate's chances of getting hired, but critics say paying for and accepting payment for a job referral is unethical.
• Visit Business Insider's homepage for more stories.

The hiring process in the tech world can be competitive, and getting your foot in the door to score an interview can be easier if someone's vouching for you.

A website has commoditized such referrals, allowing eager prospective employees to purchase one for $20 to $50.

Job candidates have purchased more than 11,000 job referrals through the online marketplace Rooftop Slushie since the website was launched in 2019, as writer Seth King reported in One Zero on Sunday.

Rooftop Slushie was formed by the creators of Blind, the anonymous chat site favored by tech workers where they can freely air their grievances about the industry. 

Here's how it works: Job candidates fill out a form, seen below, indicating the companies where they're hoping to apply. Then they list what they're willing to pay and upload their resume.

Tech workers can become verified on Rooftop Slushie as "vendors." They peruse the forms that candidates submit, taking into account their asking price and the quality of their resume, and then decide if they will accept or not. According to Gizmodo, employees from 83,000 companies — including Google, Amazon, and Facebook — are verified on the site. They are required to use their work email to be verified.

As Daniel Kim, Rooftop Slushie's product manager, told One Zero, job referrals for positions at Facebook and Google are the hottest sellers.

Kim told One Zero that its referral transactions help even the odds for skilled employees who perhaps make the cut for a role but lack desirable application features like job referrals. As the author notes, many of the high-earning tech workers that accept the payment of under $50 hardly need such supplemental income. 

But critics told One Zero the transactional nature of Rooftop Slushie's service "smells like bribery" and is ethically questionable. For employees that opt to become vendors, they could also be violating a legal binding to stay loyal to their employers. 

Tech companies typically have some sort of referral bonus system in place for employees. Amazon told One Zero that accepting payment for a job referral, however, is a violation of company policies and is looking into putting an end to the practice.

The website also allows users to pay for tips on how to beef up their resumes and how to prepare for interviews, according to Gizmodo, but the referral transactions are the most popular feature on the site.

According to One Zero, the website was named after a character in the HBO show "Silicon Valley," a series that has come to be known as a strikingly accurate portrayal of the tech ecosystem and its idiosyncrasies. The character Nelson "Big Head" Bighetti has a penchant for sipping Big Gulps on rooftops while "resting and vesting."

As Business Insider's Melia Russell reported in 2016, the "Big Head" character embodies the Silicon Valley founder whose company has been acquired and is left to wait out a contract while their equity vests.

SEE ALSO: 9 movies and TV shows you can stream to understand the magnetic world of Silicon Valley and Big Tech

Join the conversation about this story »

NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid

• Apple devices don't go on sale very often, but there are a few iPads, Apple Watches, and AirPods that will almost certainly be discounted for Prime Day 2020.
• It's important to note that sale prices vary by color and model, so if one model isn't quite as discounted as you would like, maybe try to see whether another is.
• Since Prime Day 2020 deals have been delayed due to the ongoing COVID-19 pandemic, here are some other ways you can save: shop online sales going on today, find coupons for your favorite stores, and browse all the latest deals here.
• Check out all of our Prime Day 2020 coverage here.

Apple devices are among the very best in the tech industry, but they often come at a premium price. It's not every day you see discounts on Apple devices, either, but Prime Day this year will serve as an exception to the rule.

During Prime Day of last year, you could get a few Apple Watch models and iPads on sale. The discounts may not have been as steep as other products', but for Apple devices, those sale prices were comparatively excellent.

Below, we break down the best Apple deals of Prime Day last year, whether they're on sale right now and whether you should wait to dive on that coveted Apple gadget until Prime Day 2020.

Apple AirPods — $139.00 (originally $159.00) [Was $169.99 on Prime Day last year]

AirPods almost never go on sale, and this deal is for the new ones that come in a charging case. This was the cheapest price we had seen so far on these AirPods. However, since then we've seen the AirPods Pro release, so AirPods prices on Amazon at the time of writing are even better than Prime Day last year, so have at them. 

Apple AirPods Pro — $229.99 (originally $249.00) 

The AirPods Pro with active noise-cancellation, water and sweat resistance, wireless charging, and a more customizable in-ear fit haven't been through a Prime Day yet, so it's hard to tell whether these incredible popular wireless earbuds will go any lower than their current price, which is already $20 off full retail pricing. Get them now if you're looking for a high-end pair of wireless earbuds for your iPhone. 

Apple Watch Series 5, 40mm, GPS — $299.99 (originally $399.00) 

Apple Watch Series 5, 40mm, GPS + Cellular — $449.99 (originally $499.00) 

The Apple Watch Series 5 is the latest model and therefore comes with the latest and best performance. The Series 5 also comes with a few extra features that are well worth considering if you're deciding between the Series 3 and Series 5, including an always-on display, more advanced heart-rate monitoring tech, and fall detection.

Prime Day may bring a better deal, but there's truly no guarantee, It's hard to beat it at its current price, which is $100 off the price that Apple sells it online and in its stores. It wouldn't be a mistake to pick up the Series 5 now if you're interested in it. 

For the GPS + Cellular, the current deal at the time of writing is pretty good at $50 off Apple's full retail pricing. Still, we've seen that Amazon can do better. It's not the worst idea in the world to get it now, but you might get an even better deal on Prime Day 2020. Just note that a separate data plan would be required for this Apple Watch should you want to use the cellular data connectivity. 

If you're wondering whether to get the Series 5 or spend a little less on the Series 3, check out our comparison here. 

Read the Apple Watch Series 5 review here.  

Apple Watch Series 5, 44mm, GPS — $379.99 (originally $429.00) 

Apple Watch Series 5, 44mm, GPS + Cellular — $449.99 (originally $499.00) 

The 44mm GPS-only Series 5 is identical to the above 40mm Series 5, except it's a little bit bigger. It's $49 off Apple's own full retail pricing, which doesn't match the 40mm Series 5's $100 off deal. That makes us think there's some wiggle room that Amazon can fill in during Prime Day 2020 for a better deal. You can buy now without much regret, but if you can, wait and see what Prime Day 2020 brings for the 44mm Apple Watch Series 5. 

For the GPS + Cellular Apple Watch Series 5, $100 off is already a great deal if you like the idea of having a tether-free experience with your Apple Watch. You may get a better deal if you wait for Prime Day 2020, but it's truly not a guarantee since it's already such a good deal now. Buy now or during Prime Day 2020 — depends on whether you can wait or not. Just note that a separate data plan would be required for this Apple Watch should you want to use the cellular data connectivity. 

If you're wondering whether to get the Series 5 or spend a little less on the Series 3, check out our comparison here.

Read the Apple Watch Series 5 review here.  

Apple Watch Series 3, 38mm, GPS — $179.99 (originally $199.00)[Was $169.00 on Prime Day last year]

Apple Watch Series 3, 38mm, GPS + Cellular — $279.00 (originally $299.00)[Was $299.00 on Prime Day last year]

This may be an Apple Watch that's two generations old, but it is still a fantastic smartwatch that's worth buying — especially at recent prices. It can easily be argued that it's a smarter buy than the Series 5. Any significant discount on an Apple Watch is rare, so this is the ideal version if you're not dead set on spending over $200 on a smartwatch. 

The GPS+Cellular model of the Series 3 Apple Watch gives you cellular data and connectivity. That's to say you don't need your iPhone nearby to get the full functionality out of the Apple Watch Series 3. With that said, just note that you'd need a separate data plan from your carrier for this Apple Watch model for the data connectivity. 

The GPS-only Series 3 is already $20 off its full price at the time of writing, and it's a great deal now as a result. You could wait until Prime Day 2020 for an extra $10 off, but no one will raise an eyebrow if you get it today. 

Note that different colors may be discounted at different rates. 

Check out the differences between the Series 3 and the Series 5 here. 

Read the Apple Watch Series 3 review here.

Apple Watch Series 3, 42mm, GPS — $209.00 (originally $229.00)[Was $199.00 on Prime Day last year]

Apple Watch 3, 42mm, GPS + Cellular — $309.00 (originally $329.00)[Was $329.00 on Prime Day last year]

The 42mm Series 3 is exactly what is sounds like — a bigger model than the aforementioned 38mm Series 3. The only difference is size, and all the functionality and features is identical. Like its smaller sibling, the 42mm Apple Watch series 3 can easily be argued that it's a smarter buy than the Series 5.

The $209 price tag ($20 off) at the time of writing is a solid deal, even for this two-generation-old smartwatch. You might get an additional $10 off during Prime Day 2020 like buyers did last year — whether you get it today or on Prime Day is up to you, and there's no wrong answer.

For the GPS + Cellular model, it's the same price now as it was on Prime Day of last year, so now is a better time than any to buy.

Check out the differences between the Series 3 and the Series 5 here. 

Read the Apple Watch Series 3 review here.

Apple iPad, 10.2-inch, WiFi, latest model) — starting at $249.99 (originally $329.00) 

Apple iPad, 10.2-inch, WiFi + Cellular, latest model — starting at $379.99 (originally $459.00) 

Let's say you don't need a super powerful iPad Pro and you really want to spend under $400 — this is your deal. The standard iPad is no slouch, even though it's a bit older now and its processor is not the newest or fastest around. It has a sharp 10.2 inch screen, and it can do any normal task from streaming Netflix to browsing the web and social media without any issues. 

It's current price is pretty great — $250 for the standard iPad, which is $80 off Apple's price. You could wait for Prime Day, but it's well priced now, too. 

Apple iPad Air, 10.5-inch, WiFi, latest model — starting at $469.00 (originally $499.00)

Apple iPad Air, 10.5-inch, WiFi + Cellular, latest model — starting at $615.00 (originally $629.00)

The latest iPad Air runs on the same chip as the current iPhone 11 series, and it's for those who want extra power for both casual and power-hungry apps like games or photo and video editing apps. The exra power also grants you some extra longevity before you'll start thinking about getting a new iPad. The iPad Air is even ever-so-slightly thinner and lighter than the standard iPad, and you get a slightly larger and better screen, too. 

These current prices are pretty good for the iPad Air, but we've seen previous iPad models get the Prime Day treatment. If you can, you may as well wait for Prime Day to make sure you're getting the best deal. 

Apple iPad Pro, 11-inch, WiFi, latest model — starting at $699.00 (originally $799.00)

Apple iPad Pro, 12.9-inch, WiFi, latest model — starting at $999.00 (originally $999.00)

Apple iPad Pro, 12.9-inch, WiFi + Cellular, latest model — starting at $1,136.51 (originally $1149.00)

The iPad Pros are the no-compromise Apple tablets. It contains all the power, all the features, all the cameras, all the screen, and all the tech that Apple have to throw at you. It's also compatible with Apple's Smart Keyboard Folio that essentially turns the iPad Pro into a computer when you combine it with a mouse. We have to be honest, however — with all that power and its price tag in mind, the iPad Pro is overkill for a lot of people. It's really a mobile solution designed for professionals who would use the iPad Pro for their jobs. 

Still, pros look for deals, too! The best deal is the 11-inch iPad Pro starting at $699, which is $100 off Apple's price. That's a pretty great deal for such mobile power and functionality. Unless you need any of the iPad Pros now, I'd still wait for Prime Day, which shouldn't be long now.

Join the conversation about this story »

NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America

• Business Insider has analyzed salary data for thousands of workers to reveal how much large tech companies pay their workers.
• We crunched the numbers on 13 tech companies: Airbnb, Amazon, Apple, Facebook, Google, Lyft, Microsoft, Netflix, Salesforce, Snap, Tesla, Twitter, and Uber.
• The data, which US companies must report in visa applications for foreign workers, sheds light on how engineers, designers, managers, lawyers, and more are compensated in the US's ultracompetitive technology industry.
• Got a tip? Contact this reporter at rprice@businessinsider.com or +1-650-636-6268. Anonymity offered.
• Visit Business Insider's homepage for more stories.

A Tesla wind tunnel model design engineer gets paid $100,000 a year.

A city general manager at Uber focusing on scooters earns $115,150.

Netflix's chief marketing officer makes $187,907.

A senior director at Apple gets a cool $340,000.

And a vice president of global affairs and communications at Facebook makes a whopping $655,500.

In ultracompetitive Silicon Valley, tech companies splash out huge sums of cash to attract top talent. But compensation overall remains a closely guarded secret, with firms refusing to disclose their rates as employees take to forums and anonymous social networks to compare pay packets.

But there's one organization that knows exactly how much tech workers are getting paid: the US government.

When American companies file paperwork for visas on behalf of current or prospective foreign workers, they're required to say how much compensation the workers are being offered. And every year, the Office of Foreign Labor Certification discloses this salary data in an enormous, enlightening dataset.

Business Insider has analyzed this data to see how some of the biggest and most influential tech companies compare when it comes to compensation — and to inject greater transparency into the hiring process for job seekers.

The full dataset is huge — featuring tens of thousands of workers and countless companies. Our analysis focused on 13 key companies: Airbnb, Amazon, Apple, Facebook, Google, Lyft, Microsoft, Netflix, Salesforce, Snap, Tesla, Twitter, and Uber. The fields include online retail, electric vehicles, and social networking, and are collectively some of the most prominent companies working in the technology industry.

The data is a powerful tool for understanding compensation in the industry. If you're applying for a certain job, how much should you ask for? If you transfer internally, how might that affect your pay? Are you being underpaid compared with your coworkers?

Comparing salaries across the tech giants

This section explains Business Insider's methodology for analyzing the dataset. Keep scrolling to view the salary data itself.

Each entry in the underlying dataset includes the worker's proposed salary, as well as their job title and "job type."

What is job type?

It's a categorization of each worker into one of hundreds of standardized categories that have been predetermined by the US government. For example, Tesla has five workers in the dataset with the job type "chemical engineer" — but these workers' actual job titles vary, from senior cathode engineer to senior test systems engineer and staff research engineer.

These job-type categories are the same across companies, thereby allowing us to fairly compare the companies' varying levels of worker compensation, even if the exact job titles they use for their workers are different.

The companies employ hundreds or even thousands of immigrant workers in the US. (Google submitted paperwork for more than 9,000 prospective foreign workers on applicable visas in 2019, for example.) So to make sense of the data and allow for comparisons, Business Insider calculated a set of figures for each job type: the minimum, the 25th percentile, the median, the mean, the 75th percentile, and the maximum. 

• The minimum and maximum are exactly what they sound like: the highest or lowest compensation received by a worker with a given job type at a given company.
• The mean is the average — if you add all the salaries up for a given job type, then divide them by the number of data points, you get the mean.
• If you line up all the salaries for a job type at a company up in order from smallest to largest, then pick the one in the middle, that's the median.
• And the 25th and 75th percentile are when you line up the salaries from smallest to largest and pick the one that's one-quarter or three-quarters of the way down, respectively.

Taken together, these figures allow you to see the range and spread that a company pays workers with a certain job type and how it compares with other companies, without combing through thousands of data points one by one.

Business Insider has also sorted the varying job types into nine thematic fields — like "engineering" and "scientists" — to make the data easier to navigate.

Select a field and then a job type to compare how different companies pay for similar roles. Not all companies have data for all job types. A single dot means there are not enough salaries in the dataset to show a range for that job type.

Drill down even further into specific companies

Now it's time to dig deeper.

Looking at job types allows you to make cross-company comparisons, but they group together workers who aren't necessarily working the same roles. You can find out how much specific roles pay by looking at the job titles themselves.

There are thousands of different job titles in the dataset, corresponding to tens of thousands of workers. So to make the data easier to digest, Business Insider conducted a second analysis on the dataset. This time, workers at companies with the same job titles are grouped together, and for each job title at a company, the following figures have been calculated: the minimum, the 25th percentile, the median, the mean, the 75th percentile, and the maximum.

Again, these figures make it easier to absorb the data at a glance — and see the spread of pay for a specific job title.

Select a company, then a field, then a job type to see the analysis of that job type and then the analysis of all the job titles that are part of it. Not all companies have data for all job types or titles. A single salary figure means there was not enough data to calculate a range of averages.

The data is illuminating but has limitations

There are caveats and limitations to this data that are important to bear in mind.

First, this data relates to the 2019 fiscal year, from October 2018 to the end of September. Since then, there has been a pandemic and an unprecedented economic downturn. Some of the companies analyzed — namely Airbnb and Uber — have announced major layoffs, and some have slowed hiring. The impact of the crisis on tech-industry compensation and offers made to new hires won't be quantifiable until the full data for fiscal year 2020 is available, or perhaps even longer.

Second, this data doesn't give us full visibility into what a company pays — only what it pays foreign workers in roles that it has hired immigrant workers for. If a company has hired only US citizens for a certain department, then the dataset can't shed any light on how it pays in that area. Similarly, if a company is accidentally or deliberately underpaying immigrant workers relative to US citizens, the data can't flag that or adjust for it. (In theory, immigrant workers are paid the "prevailing wage" paid to US citizens.)

The database also does not appear to include equity grants, a core part of compensation packages for many Silicon Valley tech workers. With roles that are heavily dependent on bonuses, like sales jobs, the amounts ultimately paid may vary significantly from the figures quoted in the dataset. (An Office of Foreign Labor Certification spokesperson did not respond to requests for clarification on equity and bonuses.)

When it comes to job types, the dataset is reliant on companies deciding for themselves which job type a given worker fits into. Two companies might be hiring two workers for identical positions, but if the lawyers filling out their respective paperwork for the visa applications choose to classify their respective roles as two slightly different job types, this can't be helped. This is why looking at job-title-level data is so useful for assessing what a company pays for a specific role.

The underlying dataset contained numerous typos in job titles, as well as variations in formatting (e.g., "Sr. Software Engineer," "Senior Software Engineer," and "Software Engineer, Senior"). Business Insider attempted to correct these and group together the entries that clearly refer to identical roles for the job-title-level analysis, but some variants still remain in the table.

It's also important to note that not all identical job titles for a given company are grouped together. This is because some people with identical titles nonetheless have different job types that indicate they do very different roles. For example, a Microsoft employee whose job title is "designer" and whose job type is "graphic designer" is likely to be doing very different work from another Microsoft "designer" whose job type is "computer hardware engineer." Their jobs are likely not analogous, meaning their salaries are not comparable, so they have been kept separate in the table above. 

Lastly, entries in the underlying dataset of hundreds of thousands of visa proposals include notes on whether the paperwork it relates to was certified, denied, or withdrawn. Our analysis included only the entries that were accepted to ensure the data reflects real positions.

Credits:
Skye Gould: Design director
William Stevens:Data visualization designer and developer 
Aaron Marasco: Principal engineer, story creation
Fran Lam: Web producer
Alexei Oreskovic, Michael Goodman: Editors

Explore Silicon Valley compensation in more detail:

• Leaked Andreessen Horowitz data reveals how much Silicon Valley startup execs really get paid, from CEOs to Sales VPs »
• Here's how much top Silicon Valley startup salespeople really get paid, according to leaked Andreessen Horowitz data »

Got a tip? Contact Business Insider reporter Rob Price via encrypted messaging app Signal (+1 650-636-6268), encrypted email (robaeprice@protonmail.com), standard email (rprice@businessinsider.com), Telegram/Wickr/WeChat (robaeprice), or Twitter DM (@robaeprice). We can keep sources anonymous. Use a nonwork device to reach out. PR pitches by standard email only, please.

SEE ALSO: Meet the 25 power players at Instagram who are deciding the future of the wildly popular Facebook-owned app

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QUOTE OF THE DAY

"There was no sense of 'Team America' in the conversations...It was like the United States had disappeared. It was always 'Just me'." — an anonymous Trump administration official, describing Trump's phone calls with foreign leaders, according to a CNN report.

WHAT'S HAPPENING

• The European Union officially banned US visitors. American citizens are barred until the US controls its COVID-19 outbreak, as are citizens from most of the world, including Brazil and Russia,  
• China imposed a sweeping, draconian new security law on Hong Kong.The text of the law is still secret, but it clearly will give China the power to punish and imprison protesters, perhaps even retroactively. Hong Kong democracy activists are already resigning from organizations and erasing social media accounts. 
• The president was briefed on Russian/Taliban bounty killings. According to news reports, his daily briefing in February described the Russian sabotage campaign, but White House officials deny he was told about it. 
• Trump's phone calls with world leaders are "delusional."A devastating CNN article cites Trump's own staffers describing how the President fails to prepare for calls, gets played by Putin and Erdogan, insults Merkel, and endangers US national security. 
• Carl Reiner died at age 98. The comedy legend teamed with Mel Brooks and Sid Caesar, helped create the modern sitcom, directed a bunch of great comic films (including The Jerk), and was a pretty good actor too.

VIEWS OF THE DAY

Imagine you had a boss like Donald Trump. 

Imagine your boss did this: 

You send him a memo about a life-or-death issue for the company, and he doesn't read it. He has regular calls with firms you're doing deals with, but he doesn't prepare for them, and instead spends the whole call talking about himself, or insulting the person he's talking to. He commits an egregious, humiliating screw-up one morning, then turns his phone off and plays golf, leaving everyone else to clean up the mess.

These are not hypothetical examples. This is quite literally an account — taken from a single day! — of how Donald Trump does the job we hired him to do, and that we pay him to do. 

In the last 24 hours, we learned that his Presidential Daily Briefing did highlight the shocking Russian murder-for-hire program and the American soldiers killed by it, but the president doesn't read the daily briefing. Even though the briefing summarizes the most important threats facing the United States, the country he runs. 

In the last 24 hours, we also learned that Trump doesn't prepare for his calls with other world leaders, which have enabled them to gull, outfox, and manipulate him. The president, whose primary job is safeguarding national security, is so incompetent that he's viewed as a threat by his own staff. (Oh, and he also spends much of his time on the calls belittling the leaders of America's allies, especially if they're women.) 

In the last 24 hours, we also learned that the president went dark after retweeting a video of his supporters yelling "white power." He headed off to play golf, and no one could reach him. His own top aides say they could not find the President of the United States for three hours. You're probably not the president of any country, and you probably don't have a security detail, but I bet your colleagues could track you down in less than three hours, even on a Sunday morning. 

None of these episodes even concerns what Donald Trump does as president. They have nothing to do with the shameful mishandling of the COVID-19 pandemic, for example. They are just three examples from a single day of how he does his job. 

We all know what would happen to a boss who behaved like this in any regular workplace. He'd be out in hours, fired by the board and sued by shareholders. — DP

A national "mask mandate" could save 5% of GDP

Everyone's sick of lockdowns, especially the White House, so it seems unlikely that the Federal government would ever support a national stay-at-home order.  

And even if the government did issue such an order, it's unlikely that most Americans would comply with it.  We had our shot to control and crush the coronavirus with lockdowns, and we flubbed it. 

But there's a much simpler measure the Federal government could get behind that would make a big difference: A national mandate for Americans to wear masks.

According to many studies, ubiquitous mask-wearing radically reduces coronavirus transmission (see, for example, the Goldman Sachs analysis below). Mask wearing also gives people the freedom to resume more of their normal lives, and, therefore, preserves more economic activity.

Goldman's economics team estimates that a national mask mandate would significantly increase the percentage of Americans who wear masks.

More importantly — compared to another lockdown of similar effectiveness — a mask mandate would preserve 5% of GDP. 

In other words, if only he were able to swallow his pride and order Americans to wear masks, President Trump might be able to singlehandedly boost the US economy. — HB

Is Parler — the conservative-friendly "free speech" social media platform — already banning users?

Mainstream conservatives such as Sen. Ted Cruz and far-right activists such as self-described "proud Islamophobe" Laura Loomer have touted the new social media platform Parler as a safe space for right-of-center voices marginalized by the "techo-fascists" who run Twitter and Facebook.

Parler is supposed to support "free speech," whereas established platforms like Twitter and Facebook supposedly restrict it.

But according to TechDirt, Parler is already banning some left-of-center users. (I reached out to Parler for comment, but have not heard back yet.)

Parler describes itself as a "non-biased free speech driven entity," but also acknowledges that its "interactions are subject to guidelines; and when you respect them, you are free to participate wholly." Its terms of service plainly state that it "may remove any content and terminate your access to the Services at any time and for any reason or no reason." And here's how Parler's CEO described their policies last night in a tweet. 

That doesn't sound much different than any of the platforms such as Youtube, which caused a stir yesterday by banning some white nationalist and alt-right channels. 

As I've written for Business Insider, there are good reasons to not demand that billionaire tech bros become the arbiters of truth and acceptable discourse. But if Parler's mission is to bring back the wild west of the internet, its own rules appear to be designed to prevent that from happening. — AF

IDEA OF THE DAY 

Nothing is solved until kids return to school. There are 32 million American households with school-age children, and more than 50 million kids attend US public schools, and we have no plan for them. 

Recovery remains a pipe dream unless kids go to school. Normal life can't begin until kids go to school. A deservedly scathing column from the New York Times' Michelle Goldberg lays out how we've neglected and botched the most important economic question of the pandemic. 

Americans are being summoned back to work. Great! But where are their kids supposed to go while they tend bar and install furnaces? 

School districts are talking about having kids spend a couple of days a week in the classroom — at most — to ensure social distancing. They're proposing to rely instead on remote learning, which is a disaster, and steals future economic productivity and happiness from our children. Has there been a crash program to find extra classroom space so kids could go back four days instead? Has there been an emergency appropriation so schools can hire temporary aides and thus reduce classroom sizes? We solve nothing till we solve this, and we're barely trying.— DP

BUSINESS & ECONOMY

Uber is in talks to buy Postmates. It failed to buy GrubHub earlier this year, reportedly because of antitrust concerns. Postmates is much smaller and wouldn't attract as much regulator scrutiny. Uber's reportedly bidding $2.6 billion. 

Coronavirus surge could drag US into an L or W shaped recession. Bank of America says a V-shaped recovery is looking less likely because the pandemic is spreading so wildly.

LIFE

LeBron wanted to go to the Knicks back in 2010. But of course the incompetently run NYC NBA team botched the negotiations, and so LeBron made The Decision to go to Miami. 

For sale: A New Zealand town modeled on the Wild West. You can buy Mellonsfolly Ranch, with its double-door saloon and robbable bank, for $7.5 million.

THE BIG 3*

German officials were so alarmed by Trump's calls with Merkel that they kept them secret. According to CNN's report, Trump spent the calls haranguing the German leader and even called her "stupid." 

A North Carolina racetrack owner offered a "Bubba rope" for sale. The racist stunt was widely condemned, and cost the track its races and sponsors.

Ryan Reynolds crashed Hugh Jackman's X-Men Zoom reunion. And he brought Sophie Turner with him.

*The most popular stories on Insider today.

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NOW WATCH: Inside London during COVID-19 lockdown

The coronavirus pandemic has sparked a public health crisis, the effects of which are now rippling throughout the global economy.

Cities have been shut down, travel is limited, and major central banks have begun to intervene in financial markets at levels unseen since the 2008 recession.

To find out how industry leaders think COVID-19 and related containment efforts will impact their companies and the economy as a whole, we surveyed executive decision makers from around the world.

Simply enter your email for a FREE download of our executive survey results.

Join the conversation about this story »

• Home Depot has a deal on a bundle that includes the Nest Thermostat (3rd-gen), Google Home Mini, and two Nest Temperature Sensors. You can get it for $228, which is $120 off of the full retail price of $348. 
• The Nest Thermostat (3rd-gen) lets you control your home's temperature via the internet or through a mobile app. It can also learn your preferred temperature settings over time.
• The Google Home Mini adds another layer of control to the Nest Thermostat, and you can use your voice to set temperatures.
• The Nest Temperature Sensors can be placed in rooms where the temperature is different than where the Nest Thermostat is located. The sensors are designed to let you set the temperature you want for specific rooms.
• On their own, these devices amount to about $325, including the Nest Thermostat (3rd-gen), the Nest Home Mini 2, and the two Nest Temperature Sensors, so the bundle is a good deal. 
• For more sales and deals across the internet, visit our deals page and Insider Coupons.
• You can also check out our guides to the best smart thermostats and the best smart speakers.

Join the conversation about this story »

• To celebrate the Fourth of July, several stores are now offering big discounts on various TV models.
• We'll update this page with new deals as more sales are announced.
• Right now, LG's new 65-inch CX OLED 4K TV is $2,399.99 — that's $400 off its original price, and one of the best deals we've seen so far.
• For more deals and sales, check out our deals page and Insider Coupons.

Independence Day is coming up, and many stores are celebrating the holiday with some sizable discounts on select TVs. If you're in the market for a new display, this weekend could be the perfect opportunity to finally snag that 65-inch 4K TV you've been eyeing without having to pay full price.  

Many brand-new 2020 TV models are in stock right now and several of these displays are already on sale. And, since retailers are eager to clear out older models, a few 2019 TVs are currently available for some of their lowest prices.

Below, we've compiled a list of the best Fourth of July TV deals available right now. With that said, since some retailers are still rolling out their specific Independence Day promotions, the discounts listed below might change. It's also possible that new deals could still be announced for the weekend. We'll update this page with additional discounts as they're revealed.

The best Fourth of July TV deals

LG 65-inch CX OLED 4K TV (2020 model), $2,399.99 (originally $2,799.99) at Best Buy [You save $400]

LG's new 2020 CX OLED is available for a $400 discount just in time for the Fourth of July. The display offers all of the main benefits that OLED TVs are known for, including pixel-level contrast and wide viewing angles. LG has also incorporated its latest AI image processor for upscaling, as well as HDMI 2.1 ports for advanced features like Variable Refresh Rate (VRR).

LG 48-inch CX OLED 4K TV (2020 model), $1,499.99 (originally $1,599.99) at Best Buy [You save $100]

For buyers who want OLED picture performance in a smaller form factor, there's also LG's new 48-inch CX model to consider. This is the smallest OLED screen size that LG currently offers, and you can snag a solid $100 discount on the TV right now at Best Buy.

Hisense 65-inch H8G 4K TV (2020 model), $699.99 (originally $799.99) at Best Buy [You save $100]

Hisense's new H8G is one of the best mid-range TV models you can buy in this price range. With full-array local dimming, extensive HDR format support, quantum dots, and robust smart TV capabilities courtesy of Android TV and Google Assistant, the display offers performance that rivals several more expensive models from the competition. For more detailed impressions, be sure to read our full review here.  

Samsung 65-inch Q90T 4K TV (2020 model), $2,197.99 (originally $2,697.99) at Amazon [You save $500]

Samsung's latest flagship 4K QLED TV is the Q90T. This premium 65-inch display model boasts quantum dot color, full-array local dimming, and an attractive, minimalist design. The TV also incorporates Samsung's reliable smart TV platform powered by Tizen, along with integrated Alexa voice control.

Samsung 65-inch Q70R 4K TV (2019 model), $949.99 (originally $1,399.99) at Best Buy [You save $450]

Samsung's mid-range Q70R TV from 2019 remains an impressive display. In fact, in many ways, the Q70R is actually a better TV than the new 2020 Q70T model designed to replace it. This is because the Q70R has full-array local dimming, while the newer Q70T has removed this feature. With that in mind, the Q70R is a better buy for people who prioritize dark room picture quality. The TV is currently on sale for $450 off its regular price while supplies last. 

Sony 49-inch X950H 4K TV (2020 model), $999.99 (originally $1,199.99) at Best Buy [You save $200]

One of Sony's flagship LED displays for 2020, the X950H offers several advanced picture quality features, including local dimming, HDR support, and IMAX Enhanced capabilities. This 49-inch version is the smallest size the TV comes in, but the model ranges in size all the way up to a whopping 85-inch version.   

Vizio 65-inch P-Series Quantum X 4K TV (2019 model), $1,099.99 (originally $1,299.99) at B&H [You save $200]

Vizio just released its brand-new TV lineup, but 2019 models are still available at a few retailers for some enticing deal prices. While the more expensive 2020 model offers upgraded processing and HDMI 2.1 ports, the 2019 P-Series Quantum X is still one of the brightest LED TVs you can buy. At $1,099.99, there are few competing TVs in this price range that can match this level of performance. 

Insignia 43-inch Fire TV Edition 4K TV, $249.99 (originally $299.99) at Best Buy [You save $50]

Though it lacks advanced picture quality features, this entry-level 43-inch 4K TV is a good fit for buyers who simply want a reliable smart TV for casual streaming. The display includes built-in support for Amazon's Fire TV platform, offering access to a nice assortment of apps. 

TCL 40-inch 3 Series HDTV, $189.99 (originally $199.99) at Best Buy [You save $10]

Though 4K is pretty much the standard for most new TV models, you can still save some money by opting for a lower resolution HDTV. 1080p smart TVs, like the TCL 3 Series, rarely get discounted all that much since they are already so affordable to begin with, but $10 off is still $10 off. This display is about as basic as they come, but its support for Android TV should be enough to satisfy buyers who simply want to stream their favorite apps.

Samsung 85-inch Q900TS 8K TV (2020 model), $8,999.99 (originally $9,999.99) at Best Buy [You save $1,000]

For buyers with very deep pockets, Samsung's brand-new Q900TS 8K TV is the very definition of premium. In addition to all of the advanced QLED picture features you'd expect in a flagship display, the giant 85-inch panel features an edge-to-edge "Infinity Screen" that makes it look as if the image has no frame. Though the benefits of 8K resolution remain pretty minimal, there's no denying how gorgeous this TV looks.  

• A partner at Point72 Ventures, the VC arm of Steve Cohen's hedge fund, expects the next wave of fintech disruption to happen in the less publicized back-end tech that powers big banks.
• Infrastructure giants like FIS and Fiserv have dominated the banking infrastructure space for decades, but fintechs are looking for ways to reimagine these core banking services.
• "They are all, as it currently stands, very good businesses with large customer bases who trust them, but the fact of the matter is they've fallen behind on technology," Tripp Shriner, partner at Point72 Ventures, told Business Insider. 
• Shriner isn't alone in his prediction. Goldman's investment banking head of fintech also says that the next trend to watch in fintech is players that focus on banks' core, often dated, infrastructure. 
• Visit Business Insider's homepage for more stories.

Depending on whom you ask, fintech is, at any point in time, unbundling or rebundling financial services. 

An unbundling fintech might put a tech-forward twist on a particular product or service, like checking accounts or personal financial management. Rebundlers look to do more than single-point solutions, instead aiming to bring a tech-forward approach to a broader set of financial products.

These cycles of venture-backed fintech disruption aren't new, with direct-to-consumer offerings such as Robinhood, Chime or Betterment. 

And while consumer-facing fintechs are often well-funded with VC cash and unicorn valuations, not all investors are convinced. 

In developed markets like the US, about 80% of households are "fully banked," meaning they have bank accounts and access to credit from mainstream banks, according to the Federal Reserve. For direct-to-consumer fintechs, acquiring users that already have established financial services relationships can be challenging. 

"We've had questions around what some of the businesses on the direct-to-consumer side look like long term, both from an economics perspective as well as from valuation perspective," Tripp Shriner, a partner at Point72 Ventures, told Business Insider. 

Instead, Shriner expects the next wave of unbulding and rebundling disruption to come for the not-so-glamorous back-end tech that powers financial services.

Read more: SoFi is buying a payments startup that powers Robinhood, Chime, and Monzo in a $1.2 billion deal that could upend the fintech ecosystem

Point72 Ventures, the VC arm of billionaire Steve Cohen's hedge fund Point72 Asset Management, invests primarily on the enterprise side of fintech. Its portfolio companies like Extend, Mantl, and Roostify, are going after the less publicized, back-end side of financial services, taking on infrastructure giants like Broadridge, FIS, and Fiserv and building new solutions for the banks themselves.

"They are all, as it currently stands, very good businesses with large customer bases who trust them, but the fact of the matter is they've fallen behind on technology," Shriner said.

Financial infrastructure giants are falling behind

Players like Broadridge, FIS, and Fiserv have been around for decades, behind the scenes of consumer-facing banks and asset managers. And they've achieved massive scale, largely through a series of acquisitions. From payments processing to back-office tech to compliance and tax reporting, these firms have products for virtually every aspect of financial services.

But, in part due to their incredible size, these established players cannot move as quickly as startups. Part of the reason they've been slow to evolve is complacency and bureaucracy, but it's also about their technology infrastructure, Shriner said. 

And at such a large scale, there are fewer incentives to invest in modernizing their platforms.

"They have good business models, they're large businesses with fairly captive customer bases. So they haven't had much need to innovate," Shriner said.

Read more: There's never been a better time for banks to buy fintechs, according to a Capital One cofounder. Here's why both sides need each other more than ever.

But the scale of financial technology vendors like FIS and Fiserv doesn't mean they're immune to disruption. And there are plenty of fintechs vying for a piece of the financial infrastructure space.

And many have grown to be sizeable as well. Payments giant Stripe is valued at $36 billion, backed by big-names investors Andreessen Horowitz, GV (formerly Google Ventures), and Sequoia. Card-issuing platform Marqeta is valued at $4.3 billion, and data fintech Plaid was acquired by Visa for $5.3 billion earlier this year. 

To be sure, the traditional players aren't simply ignoring fintech. FIS, which bought WorldPay last year, just set up a venture fund in April to invest in fintechs. Fiserv runs a fintech accelerator program as well.

"In the near term, if I were the CEO of one of those businesses, I don't know that I'd be particularly concerned given the scale that I have," Shriner said.

"But over time, I do think it's something that they're going to have to figure out a way to react to, whether it's introducing more innovation into their organizations, partnering with more of the startup technology businesses, or acquiring them," he added. 

Shriner's not the only one who's bullish on infrastructure fintech.

Goldman Sachs' Jeff Gido, global head of the fintech for the firm's investment banking division, discussed how the coronavirus pandemic has accelerated the acceptance of fintech in a recent podcast.

And the future of fintech is all about infrastructure, Gido said.

"Going forward, the concept of infrastructure really revolves around the fact that many of these financial institutions are running the core systems and core platforms on tech that may be 20 or 30 years old," Gido said.

And fintechs that help those financial institutions change their core infrastructure are well-positioned, he added, enabling banks to remove some of their "legacy tech debt" and become more innovative.

"We really think that's the next trend," Gido said.

Fintechs are taking on incumbents one piece at a time

While taking on large companies such as FIS and Fiserv is an uphill battle, the potential benefits are undeniable. FIS reported $10.3 billion in revenue in 2019 — a company record. And Fiserv reported $14.5 billion in 2019, a 4% increase year-over-year. 

"When you look at the revenue base and market capitalization of an FIS, I think the positive is that there's a really good opportunity to build a very valuable business just by unbundling one piece of it," said Shriner.

Online account opening, for example, is a crucial part of customer acquisition for consumer banks. And Mantl, a Point72 portfolio company, is one fintech that offers banks a solution to onboard new customers digitally.

Point72 led Mantl's $8 million Series A in February, and participated in its $11 million Series A extension in June.

Mantl helps smaller community banks, which typically would require customers to enter a branch to open an account, compete with big retail banks like Chase and Wells Fargo, as well as digital banks like Chime. Acquiring customers is a huge cost-driver for banks, and can result in losses if prospective customers don't sign up due to difficult account opening processes, Shriner said.

"Any sort of solution that helps incumbents match startups from a technology and innovation standpoint and has an actual impact on the economics for those institutions was very attractive for us," he added.

Once trust is established, fintechs have an opportunity to disrupt more pieces of banking infrastructure

Fintech's push to disrupt back-end tech providers is bolstered by banks' increasing acceptance of them as partners.

"I think big banks, in particular, have seen enough success with their fintech partnerships and have seen enough evolution in their internal mindset where they're more comfortable working with early-stage startups," Shriner said. 

"Because of the growth of cloud and the growth of APIs, it's much easier for a bank to now work with those types of companies," he added. "That has us really excited about the opportunities for those types of businesses."

Read more: Visa's fintech chief lays out how a new program to bring startups on board in just a few weeks will help tap a $185 trillion opportunity

And that trend has only accelerated amid the coronavirus pandemic, with banking and payments becoming more digital. On the financial infrastructure side, Shriner expects that this trend of increased partnership will continue, especially as fintechs build trust with institutional players. 

"We guide our startups quite a bit on building referenceability and therefore trust in the marketplace," said Shriner.

Read more:

• There's never been a better time for banks to buy fintechs, according to a Capital One cofounder. Here's why both sides need each other more than ever.
• Visa's fintech chief lays out how a new program to bring startups on board in just a few weeks will help tap a $185 trillion opportunity
• The $43 billion combination of FIS and Worldpay could trigger a wave of M&A. Here are the deals that could be next.

SEE ALSO: There's never been a better time for banks to buy fintechs, according to a Capital One cofounder. Here's why both sides need each other more than ever.

SEE ALSO: A fintech disrupting corporate cards just won $11 million in backing, and its CEO says Apple's new credit card is validation of its strategy

SEE ALSO: Visa's fintech chief lays out how a new program to bring startups on board in just a few weeks will help tap a $185 trillion opportunity

Join the conversation about this story »

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• Chinese smartphone giant Vivo has shelled out $182 million for land to build a 32-story high-rise headquarters.
• The tower will feature spiraling exterior gardens and will house 5,800 workers when it's expected to be completed in 2025.
• Vivo's new headquarters will sit in the Chinese district of Shenzhen, a booming tech sector that is also home to Huawei and ZTE.
• TikTok's parent company, Bytedance, also recently splurged on land in the district.
• Visit Business Insider's homepage for more stories.

Chinese smartphone firm Vivo is building a 32-story tower that will serve as the tech giant's new headquarters, according to a press release.

The skyscraper will feature a glass frame with a spiraling series of exterior gardens from the ground floor to the top level as well as unencumbered views of the ocean.

According to Bloomberg, the new tower will accommodate 5,800 Vivo employees and will also hold the smartphone maker's flagship store.

The office floors feature extra-wide workstations to give employees more space, according to a press release. The tower's designs also allow it to self-shade in the summer.

Vivo spent $182 million, or 1.3 billion yuan, on the site where the tower will one day sit, as Bloomberg reports. Construction on the tower began in May and is expected to wrap up in the fall of 2025.

The architect behind the design is NBBJ, a US firm that has become popular among tech clients. NBBJ is the mastermind behind the Amazon Spheres in Seattle, Samsung's San Jose headquarters, and other tech offices.

It's also spearheading the development of the Chinese internet company Tencent's Net City, a 320-acre eco-friendly city the size of Midtown Manhattan that will serve as a sprawling campus with schools, apartments, buildings with grass-covered rooftops, and more for employees. The project is expected to be completed in seven years.

Both Tencent's Net City and Vivo's 32-story skyscraping headquarters will sit in the Chinese district of Shenzhen. The district has developed into a tech hub in recent years — telecommunications firm Huawei, smartphone maker ZTE, and drone giant DJI all call the sector home.

Vivo's competitor, fellow smartphone manufacturer Oppo, is building a new HQ in Shenzhen, according to Bloomberg. And per a South China Morning Post report, TikTok parent company Bytedance has also invested in a plot of land in the district.

SEE ALSO: Internet goliath Tencent is building a city the size of Midtown Manhattan in China, complete with grass-covered rooftops, offices, and apartments. Here's what Net City will look like.

Join the conversation about this story »

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