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These 9 company perks keep employees around longer From mental health days to profit sharing, these standout company benefits help retain top talent and build long-term loyalty Retention is a growing challenge in a job market where skilled workers have options and expectations. A Gallup report found that nearly half of U.S. workers are actively job searching or watching for new opportunities. In this climate, perks are everything and serve as a strong indicator of a company’s values, culture, and long-term vision. Companies that align benefits with employee well-being and growth see more than good press — they see loyalty, engagement, and resilience. These standout strategies demonstrate how leading employers retain their best talent, not with ping-pong tables and ice cream Fridays, but by meeting fundamental human needs. 2 / 10 1. Mental health days and flexible PTO Preventing burnout is essential and far more than just a wellness trend or component of employee well-being. Mental health days and open PTO policies provide employees with the space to recover, reset, and return stronger. These policies recognize that time off isn’t always about vacation but also sustainability and long-term productivity. Example: Software company Asana offers “no strings” paid time off, including dedicated mental health days throughout the year. Such flexibility contributed to its consistently high rankings in employee satisfaction and notably strong retention. 3 / 10 2. Paid sabbaticals and long-term loyalty Sabbaticals reward tenure and provide a meaningful break that helps refresh long-serving employees. They also send a clear message that long-term commitment is recognized, valued, and supported. Example: After five years of service, Patagonia employees can take a two-month, fully paid sabbatical to work on environmental projects or recharge. This policy has helped Patagonia maintain strong employee engagement and long tenure across departments. It boosts loyalty and contributes to sustained productivity. 4 / 10 3. Tuition reimbursement and continuous learning When employees grow, businesses grow with them. Educational support shows a company is invested in more than the work being done today, but in long-term development. Whether through degree programs, certifications, or micro-learning stipends, learning benefits have been linked to increased retention and promotion rates. Example: Starbucks’ College Achievement Plan covers full tuition for eligible employees completing bachelor’s degrees online through Arizona State University. Over 20,000 employees have enrolled, supporting both retention and upward mobility. Investing in continuous learning helps companies build a skilled, loyal workforce ready to take on future challenges. 5 / 10 4. Career development coaching or internal mobility tracks Clear career development pathways turn high performers into long-term leaders. Mentorship, internal promotion tracks, and career coaching provide employees with a reason to stay and a clear direction for growth. When employees see a future with their current company, they’re less likely to look elsewhere.  Example: AT&T’s internal mobility program helps employees map their career paths and upskill through digital training platforms. The initiative has supported thousands of internal moves and promotions annually, reinforcing internal talent pipelines. Investing in internal mobility benefits both employees and the organization by encouraging loyalty and leadership development.  6 / 10 5. Childcare support and family benefits Supporting caregivers in the workplace has become a necessity rather than a luxury. From extended parental leave to childcare stipends or on-site options, supporting working parents helps retain valuable professionals. These benefits reduce attrition and improve inclusivity, especially for women in the workforce. Example: Cisco offers “LifeConnections” — an on-campus center with childcare, health services, and wellness programs. Paired with generous leave policies, this has contributed to the company’s strong reputation for supporting families and retaining mid-career employees. Family benefits play a key role in building loyal and diverse teams.  7 / 10 6. Remote and hybrid work models Flexibility is one of the most powerful modern retention strategies. Remote and hybrid policies offer autonomy and a better work-life balance, allowing employees to tailor their work schedules to their needs. Hybrid options also expand the talent pool without sacrificing connection. Example: HubSpot’s “work from anywhere” policy allows employees to choose remote, in-office, or hybrid setups. Since implementing this model, the company has reported lower turnover rates and higher engagement scores. Flexible work arrangements are essential tools for attracting and keeping top talent.  8 / 10 7. Equity, profit sharing, or employee ownership plans Equity and ownership plans help employees feel invested, increasing their likelihood of staying. Ownership benefits, such as stock options or profit sharing, increase commitment by aligning employee success with company success. These benefits are especially effective in retaining experienced, high-impact employees. Example: Publix Super Markets is employee-owned through an Employee Stock Ownership Plan (ESOP). This structure has contributed to high retention rates, with many staff members staying for decades. Employee ownership builds loyalty and emphasizes a shared commitment to company success. 9 / 10 8. Wellness stipends and lifestyle perks Well-being benefits are shifting from general perks to personalized support. Companies are moving beyond gym discounts to offering stipends that support mental, physical, and even financial health. These lifestyle and wellness perks reflect the diverse ways employees recharge and reduce stress. Example: LinkedIn provides employees with a “Perk Up” budget that can be used for fitness classes, mindfulness apps, or even house cleaning services. The company ties these perks directly to wellness outcomes and productivity. Personalized wellness benefits help employees feel valued and supported, increasing retention and engagement.  10 / 10 9. Purpose-driven volunteering opportunities Mission matters, especially to today’s young workers. Paid volunteer days, donation-matching programs, and purpose-driven initiatives help employees align their personal values with a company’s broader mission. This sense of shared purpose fosters deeper engagement. Example: Salesforce gives employees seven paid volunteer days each year and offers a $10,000 donation match. Over 80% of employees participate in volunteering, creating a culture of giving that strengthens commitment and supports long-term retention.  Read More

American consumer confidence worsened in August, ending a three-month stretch of gains, as high prices, mounting inflation, and worries about U.S. tariffs weighed on household outlooks. Suggested Reading The University of Michigan’s preliminary August sentiment index fell to 58.6, down from July’s reading of 61.7, while short-term inflation expectations jumped to an annual rate of 4.9% from 4.5%. Related Content “Consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused,” said Surveys of Consumers director Joanne Hsu. “However, consumers continue to expect both inflation and unemployment to deteriorate in the future.” Consumers’ anxieties, which were recorded in the two weeks to Aug. 11, could be justified, after separate data released earlier this week showed July’s wholesales inflation numbers far outstripping analysts’ forecasts. The latest Producer Price Index (PPI) rose 0.9% month-over-month, marking the largest increase since early 2022, sending stocks falling and prompting traders to pare back their bets of imminent Federal Reserve interest rate cuts. Northlight Asset Management chief investment officer Chris Zaccarelli called the release “a most unwelcome surprise.” The consumer confidence data also comes hours after fresh figures showed retail sales grew last month as auto purchases once again led the sector’s gains, according to advanced estimates from the U.S. Census Bureau released Friday. They showed a nearly a 4% increase from July 2024. A separate University of Michigan report released Friday showed that 58% of consumers plan to cut back on spending this year as they brace for further inflation, with respondents pointing to holding back on purchases like cars, household items and eating out. Hsu added that consumers “currently expect labor markets to weaken, which would reduce their income prospects and their ability to spend”. Earlier this month, Bureau of Labor Statistics data showed the U.S. added just 73,000 jobs in July with significant downward revisions for the prior two months, indicating the economy might be weaker than anticipated. On the Friday sentiment survey, the current conditions gauge — which tracks consumers’ judgment of the economy right now — also fell to a three-month low of 60.9. The University of Michigan will release its final August 2025 sentiment figures on Aug. 29. 📬 Sign up for the Daily Brief Read More

Opinions expressed by Entrepreneur contributors are their own. Most solopreneurs are still using AI like a note-taking app — but OpenAI’s newest update just turned ChatGPT into something far more dangerous (and profitable). This isn’t a smarter chatbot. It’s a fully autonomous AI Agent — a 24/7 virtual worker that can browse websites, dig through inboxes, reverse-engineer competitors, and even handle your Instagram comments… without your constant input. In this video, I’ll show you how top solopreneurs are scaling faster than ever with this Agent — automating lead generation, outreach and admin so they can grow without adding headcount. Inside, you’ll discover: Instagram lead recovery: How to find missed opportunities buried in your comments and DMs — and turn them into revenue on autopilot. Next-level competitor intel: Reverse-engineer winning content strategies and spot gaps your competitors missed. Hyper-personalized outreach: Build targeted lead lists, research decision-makers and send context-rich cold emails — all in minutes. Podcast & media pitching: Find the perfect shows, research hosts and create irresistible pitches that get replies. Admin & follow-ups handled: Clear your inbox, chase proposals and keep leads warm — without lifting a finger. This isn’t a “someday” AI feature. It’s here now. Whether you’re a consultant, creator, coach, or solo founder — if you don’t learn to work with Agents like this, you’re leaving money (and time) on the table. The AI Success Kit is available to download for free, along with a chapter from my new book, The Wolf is at The Door. Most solopreneurs are still using AI like a note-taking app — but OpenAI’s newest update just turned ChatGPT into something far more dangerous (and profitable). This isn’t a smarter chatbot. It’s a fully autonomous AI Agent — a 24/7 virtual worker that can browse websites, dig through inboxes, reverse-engineer competitors, and even handle your Instagram comments… without your constant input. In this video, I’ll show you how top solopreneurs are scaling faster than ever with this Agent — automating lead generation, outreach and admin so they can grow without adding headcount. The rest of this article is locked. Join Entrepreneur+ today for access. Read More

On a recent episode of the “Aspire With Emma Grede” podcast, billionaire entrepreneur Mark Cuban said that he thinks every business owner should be learning how to use AI by now, or at least “just asking it questions” — and if you aren’t, your business could be in trouble. Grede, the co-founder of Skims and CEO of Good American, asked Cuban what he’d say to people who “don’t want any more technology” in their lives. He responded that it would be like saying no to WiFi and instead sticking to dial-up Internet service. Related: Emma Grede Dropped Out of School at 16. Now the Skims Boss Runs a $4 Billion Empire. “That’s like [a business] saying back in the day, ‘I don’t need to use a PC. I don’t need to use the internet. I don’t need a cell phone or WiFi,’” he said. “Those businesses died. Done.” Cuban and Grede previously worked together on two seasons of “Shark Tank.” When reflecting on the early days of technology, Cuban said that when he was building his business, “there was new software every day, the PCs and the networks were getting faster, and bandwidth was getting faster. And AI is the same way now.” He compared the current AI rush to the invention of the personal computer. And according to what Grede told Fortune (that Cuban has 60 AI apps on his phone), he’s clearly at the forefront. “We really delved into AI, [and he] gave me a new urgency around how I use AI,” Grede told the outlet. “He gave me a kick.” Related: Mark Cuban Spends ‘Most’ of His Time Using This Decades-Old Communication Method. Here’s Why He Prefers It. On the podcast, Cuban said that if you want to be an entrepreneur, you need to start “playing” with AI to get a sense of how it works. Cuban noted that the technology can help businesses streamline everything from content creation to slide decks to financial reports. “Learn how to prompt; it becomes like a mentor,” Cuban said. “It becomes like having an entire staff of a thousand business professors.” “We’re in a whole new world,” he added. Related: AI Is Transforming the Workplace — Including Social Media Marketing. Here’s How Businesses Can Actually Use It. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success. Read More

Gluten-free cookie dough brand, Sweet Loren’s, has gone viral before (both Kylie Jenner and Glen Powell have touted the sweet treats), but this week, the brand achieved incredible viral success — and by total mistake. While trying to update her personal TikTok name, the company’s new social media manager, Ryan Weitz, accidentally changed Sweet Loren’s TikTok name to her own — “Ryan.” She says she immediately tried to change it back, only to find out she would be unable to do so for seven days. “So I don’t get in trouble, please make this follower count go up,” she says. Related: This Is What a $300 Million TikTok Strategy Looks Like @sweetlorens new followers have the chance to get our new flavor for free before it’s on shelf ✨? #socialmediamanager #smm #helpme #jobstruggles #contentcreator #helpyourgirlout #managersbelike ♬ original sound – Ryan After telling her boss, the duo decided to do what any good social media manager would do — make a TikTok about it. One week and 42 videos later, Sweet Loren’s is still enjoying viral success, with more than 2.2 million views so far. The company has gained 10,000 followers in the last week, and website-based sales increased 46%, the social media team told PRWeek. “TikTok is a place where you can have a little fun, so we decided to lean into it and create content around the moment,” Weitz told the outlet. “I was pushed to really go for it, be unafraid, and it’s paid off.” @sweetlorens looking like I maybe won’t get fired but please keep following to help me out ??? #sweetlorens #socialmediamanager #socialmediastruggles #internmessup #brandhumor #companytok #workfail ♬ original sound – Ryan Sweet Loren’s finally got the ability to change its name back on Friday (though it still has yet to do so). Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success. Related: Want to Go Viral? 3 Strategies to Make Your Next Campaign Go Viral Gluten-free cookie dough brand, Sweet Loren’s, has gone viral before (both Kylie Jenner and Glen Powell have touted the sweet treats), but this week, the brand achieved incredible viral success — and by total mistake. While trying to update her personal TikTok name, the company’s new social media manager, Ryan Weitz, accidentally changed Sweet Loren’s TikTok name to her own — “Ryan.” She says she immediately tried to change it back, only to find out she would be unable to do so for seven days. “So I don’t get in trouble, please make this follower count go up,” she says. The rest of this article is locked. Join Entrepreneur+ today for access. Read More

Opinions expressed by Entrepreneur contributors are their own. In private equity, the smartest general partners (GPs) are realizing that co-investments aren’t just a fundraising sweetener; they’re a strategic lever. Done right, they strengthen the portfolio, deepen LP relationships and reduce overall risk exposure. Yet many GPs still treat co-investing as an afterthought rather than a core element of fund strategy. In today’s climate, where LPs are more selective, underwriting standards are higher and trust is harder to earn, co-investments can be the edge that separates high-performing GPs from the pack. Here’s how the most sophisticated firms are using co-investing not just to raise capital, but to build resilient portfolios and tighter LP alignment. Related: The Collaboration Between Limited Partners and Growth Partners: Investors’ Perspective Why co-investments matter more than ever The co-investment market has matured rapidly over the past decade. According to Preqin’s Global Private Equity Report, nearly 70% of LPs now expect co-investment opportunities from their fund managers. This demand is no longer limited to mega-institutional family offices. Sovereign wealth funds and even smaller foundations are seeking ways to increase exposure to direct deals while lowering blended fee structures. Meanwhile, a 2023 report from PitchBook emphasized that co-investment volume is rising even in volatile markets, fueled by LPs looking for more control, lower fees and deeper access to quality deals. For GPs, this presents both a challenge and an opportunity. The challenge: Co-investments can strain internal resources and slow deal execution if not managed well. The opportunity: When built into the fund’s operations and strategy from day one, co-investments enhance portfolio flexibility, attract strategic LPs and reduce concentration risk, all without diluting fund governance. Co-investing as a tool for portfolio construction Smart GPs treat co-investment capacity as part of their capital stack, not a separate, ad hoc offering. This mindset allows them to: Pursue larger deals than the fund alone could support, without increasing fund-level concentration. Add diversification by allocating fund capital to core positions and inviting co-investors into adjacent or higher-risk assets. Act quickly on opportunistic deals by pre-qualifying LPs who can co-invest with short notice. Let’s say your $100M fund is targeting 10 core platform deals of $10M each. You come across a $25M acquisition that fits the thesis but exceeds your single-asset exposure cap. With co-investment capital lined up, you can still lead the deal, funding $10M from the fund and $15M from co-investors. This approach maintains portfolio balance while giving LPs direct access to a larger asset. More importantly, it builds your reputation as a GP who brings access, not just capital. For a case study of this dynamic in action, this piece from Hamilton Lane illustrates how co-investments have become an essential tool in modern private market strategy. Related: The Risks And Rewards Of Direct Investment For LPs Reducing risk while increasing ownership One underappreciated benefit of co-investing is how it allows GPs to retain control of high-conviction assets without overexposing the core fund. In many cases, the most attractive deals are also the most capital-intensive. Without co-investment partners, a GP must choose between taking a smaller slice or over-allocating from the fund. By bringing in co-investors, GPs can secure majority or lead positions while staying within prudent limits. This improves control over governance, exit timing and value creation plans, all critical levers in reducing downside risk. Additionally, co-investing can be a powerful tool in navigating market cycles. During downturns, GPs can selectively syndicate capital-heavy deals to preserve dry powder, while still deploying into discounted opportunities. The BVCA’s 2023 Private Equity Guide offers insights into how firms are adjusting their co-investment behavior during a recession. The operational backbone of a co-investment strategy Of course, offering co-investments isn’t just about having the deal flow. The GPs who excel at this have built internal systems to handle: Legal structuring: Quick SPV setups, allocation mechanics and clear governance roles LP segmentation: Understanding which investors have the appetite, capacity and decision-making speed to co-invest Data sharing: Secure, real-time access to diligence materials and post-investment reporting Compliance and fairness: Ensuring transparent allocation that doesn’t disadvantage the core fund This operational backbone is often the difference between firms that “can” offer co-investments and those that do so consistently, cleanly and at scale. For GPs looking to mature their fund ops, platforms like Carta and Juniper Square simplify co-investment administration, LP communications and investor onboarding. More advanced GPs are also using tools like Passthrough to streamline subscription documents or Anduin for automated investor workflows. Co-investment fosters lasting trust From an LP point of view, we see co-investing as a way to display confidence and alignment. It gives them more say, more return and often a larger role at the table. When done fairly, it turns your investors into what they are — full partners. In a world that is becoming more relationship-based in terms of fundraising, GPs who put in consistent, thoughtful co-investments are at an advantage. Retain top LPs in future funds. Convert one-time investors into anchor commitments. Win allocations in competitive fundraising cycles. According to HarbourVest’s 2023 LP Survey, nearly 80% of LPs reported higher satisfaction and trust in managers who offered co-investment access, especially when the deals performed well and were communicated transparently. Related: Why Direct Investments By LPs Are On the Rise A word of caution: Don’t over-promise With all its advantages, co-investing is not a silver bullet. When used excessively or poorly, it may bring execution risk, create inefficiencies and bring LPs into conflict. The most common shortcomings are: Providing too much in co-investments, devaluing their quality Granting favors with allocations Procrastinating closings from side deal logistics Failing to coordinate internal bandwidth to handle the complexity The best firms are selective. They set expectations with LPs early, often in the PPM or DDQ, and focus on quality over quantity. One excellent co-investment that delivers a win can be more powerful than five rushed ones that don’t perform. Co-investments are no longer optional; they’re a defining feature of modern private equity. But the edge doesn’t come

Opinions expressed by Entrepreneur contributors are their own. Any traveler who crosses multiple time zones is likely to experience jet lag. The good news, however, is that jet lag can be prevented. Whether you’re traveling for the upcoming holidays or a business trip in the future, here’s what you need to know to beat jet lag. Related: Business Travel Can Wreck You—Here’s What To Do About It What is jet lag? First, let’s talk about jet lag in general. A person suffering from jet lag has a temporary sleep problem due to time zone differences between their normal daily rhythms and the time zone they are in. You usually experience this problem when traveling across three or more time zones. You will notice this especially if you cross the international date line. That’s the line between the South and North Poles, and it’s also the boundary between one calendar day and the next. The conditions of travel can also contribute to jet lag, including sleep deprivation, long periods in an uncomfortable position, excessive drinking of caffeine or alcohol and poor air quality in the cabin. As you arrive in a new time zone, your circadian rhythms remain accustomed to the time of day from where you departed. As your body adjusts, you may experience symptoms of jet lag. Symptoms of jet lag There are a variety of symptoms associated with jet lag, but the most common are: Fatigue Daytime drowsiness Nighttime restlessness Problems sleeping Difficulty concentrating Irritability Headaches Digestive problems Mood swings After traveling, these symptoms usually last 24 to 48 hours. Related: 4 Ways to Prevent Jet Lag From Sabotaging Your Business Trip Is there a way to reduce or resolve jet lag? To overcome jet lag, you need to align your body’s circadian rhythm with your destination’s sunrise and sunset times. There are also a few other steps you can take: Sync up your circadian rhythm You need to synchronize your body’s 24-hour internal clock to the 24-hour day at your destination if you’re going to beat jet lag. There are, however, a number of factors that must be taken into account in order for this to be accomplished: You should take into account whether you are traveling east or west. It is common for jet lag to increase when traveling eastward. Similarly, think about the number of time zones crossed. If you cross over three time zones, you’re more likely to get jetlagged. Travel time, the arrival time of your flight, and your typical sleep schedule also play a role. As a result of these variables, jet lag cannot be treated in a single way. A plan involving light exposure and melatonin is typically necessary to quickly overcome jet lag. Together, these can help you retrain your internal clock. Also, in order to adjust your circadian rhythm, you need to time your activities properly. Exposure to light and melatonin at the wrong time of day can aggravate jet lag and further disrupt your circadian rhythm. Keep in mind that the symptoms of jet lag may persist even when you have a well-developed travel plan. Although jet lag affects everyone differently, reorienting your circadian rhythm can reduce the likelihood of it negatively impacting your trip. Related: 7 Things to Add to Make Your Morning Routine More Productive in 2022 Melatonin Melatonin is a hormone produced naturally by the body. At night, just before sleep, your body begins to produce melatonin. In addition to helping you initiate sleep, melatonin regulates your circadian rhythm. By disrupting your circadian rhythm, jet lag can alter the production of melatonin. The right dosage of melatonin supplements may help realign your internal clock. Supplements containing melatonin can be purchased over the counter without a prescription. It is also possible to boost melatonin levels with prescription drugs that influence melatonin production or its effects on the body. Melatonin can be taken by most people without significant side effects. However, it may have interactions with other medications in some people, causing grogginess and stomach problems. Before taking melatonin, consult your doctor as with any drug or supplement. According to the UCLA Sleep Disorders Center, low, short-acting doses (0.5 mg or less) are recommended in the following situations. Traveling westward: When you have adapted to local time, melatonin can help shift the body clock to a later time. Traveling eastward: Until your body clock has become accustomed to local time, take melatonin at local bedtime every night until it has shifted to an earlier time. For those who cannot take melatonin or prefer natural alternatives, more natural deep sleep gummies are an option. These gummies often contain ingredients like valerian root, chamomile, magnesium, or passionflower, which can support relaxation and improve sleep without the use of melatonin. Light exposure Natural light is the most important factor affecting circadian rhythm. People interpret sunlight, even on cloudy days, as a crucial signal to regulate their internal clock. When you are exposed to natural light at your destination, acclimatizing to the new time zone is easier. Don’t rush outside, however. As soon as you land, you may wish to avoid light until the following morning, depending on how far you have traveled and the time you landed. Light from artificial sources, such as electronic devices, also affects circadian rhythms. As such, when you’re planning to go to sleep, remain in the dark and try to avoid artificial light. When natural light isn’t available, what can you do? An LED light box can provide higher illuminance with stronger circadian effects. If you’re traveling westward, maximize your exposure to bright light in the evening. If you’re traveling eastward, make sure you are exposed to as much light as possible in the morning. Once again, jet lag is incurable. You can, however, prevent it or reduce its severity in several ways. Listed below are some science-based tips: Before you travel: A few days before your trip, adjust your sleep schedule. When traveling east, try to go to bed and wake up earlier

Waymo is experimenting with generative AI and other technologies for its self-driving cars, but the company believes the assortment of laser sensors and radars mounted on its cars remains the safest way to run a robotaxi service at scale—at least for now. “We’ve done a lot of research. We’re aware of what works and what doesn’t work at our scale and what we need to do,” Srikanth Thirumalai, who is vice president of onboard engineering for the current robotaxi industry incumbent, Waymo, said this week at the Ai4 Conference in Las Vegas.  While rivals like Tesla are pushing self-driving cars that rely solely on video cameras, Waymo’s Thirumalai says the combination of LiDAR and radar provides “an additional safety net” to make sure that the company has the adequate data it needs to make driving decisions “under all conditions”—including extreme weather. Thirumalai was speaking on stage in an interview with Fortune. Earlier that day, Thirumalai gave a solo presentation, describing Waymo’s AI stack and approach to safety in detail that has allowed the company to scale its operation to five cities by mid-2025 and conduct more than 100 million driverless miles. In his presentation, Thirumalai showed a video of how LiDAR sensors on the Waymo Jaguar I-PACE had picked up movement from human beings readying to jump in the road, even when the vehicle’s cameras had not—or a woman preparing to go around a stopped bus and directly into the path of a Waymo robotaxi. In both instances, Waymo’s robotaxi stopped or maneuvered out of the way to avoid contact with the pedestrians, according to the videos. The presentation showed the stark contrast in approaches between Waymo and one of its newer rivals, Tesla, which launched a small-scale, invite-only robotaxi service in Austin this June, with safety drivers in the passenger seat. Tesla, which was demonstrating its full self-driving (FSD) technology via demo rides at the Ai4 Conference, is only using video cameras and its AI technology for FSD and Tesla Robotaxi, after years of Elon Musk stating that other sensors are expensive and unnecessary. “LiDAR is a fool’s errand,” Elon Musk said in 2019. “Anyone relying on LiDAR is doomed. Doomed! [They are] expensive sensors that are unnecessary.” Thirumalai wouldn’t say directly whether he considered camera-only self-driving systems like Tesla’s to be safe for the public roads. He said that you have to consider “the whole process” of how a system is built, tested, then validated, and he also said that you cannot statistically compare Waymo’s system to another, because of the lack of comparable safety metrics. General Motors’ subsidiary Cruise, which also used LiDAR and radar systems, suspended operations earlier this year after it failed to relaunch after a serious accident in San Francisco. For context, Tesla said it had driven 7,000 driverless miles at the end of July, compared to Waymo’s 100 million. “If we are talking about objective measures, then we have to look at the statistics of our safety record, at scale, right?” Thirumalai said. “When someone actually says: Yes, we matched your safety at your scale with a different system, that’s great. We’ll take that.”  Waymo is regularly testing new technology as it becomes available, according to Thirumalai. As part of that experimentation, he said that Waymo has researched how multimodal models like Gemini can be incorporated into the Waymo tech stack (Waymo has not tested any other generative AI models besides Google’s Gemini, Thirumalai confirmed). The robotaxi company has published several papers of its research into multimodal models, including a city-scale traffic simulation with a generative world model as well as Waymo’s research around EMMA, Waymo’s End-to-end Multimodal Model for Autonomous driving. Waymo has reported that co-training its vehicles with EMMA helped with things like object detection and road graphs, saying there was “potential” for EMMA as a generalist model for autonomous driving applications. However, EMMA is expensive, can only process a small number of image frames, and does not incorporate LiDAR sensors or radar—all of which lead to “challenges” for using EMMA as a “standalone model for driving” Thirumalai said incorporating generative AI models into the self-driving tech stack is an area of “intense research,” and that he believes this will continue. “But there’s a lot more work that’s going to be needed to make the system as simple as possible,” he said. Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

The highly anticipated meeting between President Donald Trump and Russian President Vladimir Putin ended Friday night without a clear agreement to end the war in Ukraine. After talking for nearly three hours, the two leaders held a news conference, where Putin began by saying they reached an agreement to “pave the path to peace in Ukraine” but didn’t offer any details. He added the “root causes” of Moscow’s concerns in Ukraine must to be addressed before a full deal can be reached.  “I expect that today’s agreements will become a starting point not only for resolving the Ukrainian problem, but also for restoring businesslike, pragmatic relations between Russia and the United States,” Putin said. Trump followed those remarks and suggested some outstanding issues remain unresolved, but also didn’t go into any specifics. “There were many, many points that we agreed on—most of them I would say—a couple of big ones that we haven’t quite gotten there,” he said. “We’ve made some headway. So there’s no deal until there’s a deal.” Trump added that he will confer with the leaders of NATO and Ukraine. “I’m going to start making a few phone calls and tell them what happened,” he said. “We had an extremely productive meeting, and many points were agreed to and there are just a very few that are left. Some are not that significant. One is probably the most significant, but we have a very good chance of getting there. We didn’t get there, but we have a very good chance of getting there.”  Trump closed his remarks by saying “we’ll speak to you very soon and probably see you again very soon.” After the opening statements, the news conference ended without either president taking any questions from reporters. Ian Bremmer, president of political risk research and consulting firm Eurasia Group, said on X that Putin has gained time and conceded nothing, calling the summit a win, for now, for Russia. “Putin treated as an equal by president trump, which the Russian president was clearly pleased about,” he added. But the absence of an agreement also suggests that the worst fears in Europe and Kyiv—that Trump would concede too much to Putin—haven’t been realized so far. Ahead of the meeting, Trump described it as “setting the table,” and told Fox News earlier on Friday that if it goes well, then another meeting would follow soon. Otherwise, he suggested he won’t hold “any more meetings at all, maybe ever,” adding that he’ll be upset if there isn’t “some form of a ceasefire.” “You have to weave and bob and you don’t know what’s going to happen,” Trump said. “But we’re going to go and find out. I’d like to see a ceasefire.” Ukrainian President Volodymyr Zelensky, who may be included in a future round of talks, said before the Trump-Putin meeting that the U.S. can end the war. “We count on a strong American position,” he said in a video address from Kyiv. “Everything will depend on this.” Earlier in the week, Zelensky rejected a suggestion from Trump that any ceasefire agreement would require Ukraine and Russia to swap some territory. On Wednesday, Trump warned that there will be “very severe consequences” if Putin doesn’t agree to stop his war on Ukraine. But that’s after Trump backed off an earlier threat to impose secondary sanctions on countries that import Russian oil. Instead, he agreed to meet Putin in Alaska. On Friday after his meeting with Putin, Trump didn’t announce or threaten any new sanctions on Russia despite the lack of a deal. With existing sanctions on Russia and potentially new ones at stake, the eventual outcome of the Trump-Putin summit will create winners and losers in the energy space. Peace means lower fuel prices for consumers, even as a bearish oil sector turns increasingly pessimistic about the months and year ahead. On the other hand, continued fighting could mean increased sanctions against Russia and buyers of Russian oil, adding pain at the pump while potentially reinvigorating a languishing oil industry and driving higher revenues. Oil and gas revenue, which tumbled 27% in July from a year ago, is also the main source of the Kremlin’s funds, and Russia is running out of financial resources as the war-related spending deepens its budget deficit. The National Wealth Fund, a key source of reserves, has dwindled from $135 billion in January 2022 to just $35 billion this past May and is expected to run out later this year. “Russia’s economy is fast approaching a fiscal crunch that will encumber its war effort,” economist and Russia expert Anders Åslund wrote in a Project Syndicate op-ed last week. “Though that may not be enough to compel Putin to seek peace, it does suggest that the walls are closing in on him.” Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

Despite presidential proclamations, Social Security’s financial outlook is more troubled than ever. A new report from the Committee for a Responsible Federal Budget (CRFB) warns that as Social Security turns 90, it’s “racing towards involvency,” with its retirement trust fund projected to become insolvent by late 2032, just seven years from now. For a typical dual-earner couple retiring just after insolvency, this would mean an $18,400 reduction in annual benefits. Prior to Trump’s tax cuts, program trustees estimated insolvency around 2034. With the new tax changes, several independent analyses, including by the CRFB, now suggest the trust fund could run dry as early as 2032. When this happens, all beneficiaries would face an immediate and automatic benefit cut of around 24%, unless Congress acts to shore up the system. Eliminating federal income taxes on Social Security benefits reduces program revenues by approximately $1.05 trillion to $1.45 trillion over a 10-year period (2025–2035). The lower figure is a Congressional Budget Office (CBO) estimate; the higher end comes from Penn Wharton. Why the urgency? Social Security faces multiple long-term challenges: Demographic crunch: Fewer workers support more retirees. The worker-to-retiree ratio has plunged from 16.5:1 in 1950 to 2.7 as of 2023, straining payroll tax inflows. Longer lifespans: Americans are living longer, collecting decades of benefits. Declining birthrates and slowing immigration: Both trends reduce future payroll tax contributions. Political stalemate: Lawmakers repeatedly deadlock on fixes like raising payroll taxes, increasing the retirement age, or trimming benefits. What Americans need to know The headlines about reducing Social Security taxes offer short-term relief, but Americans should also consider the long-term arithmetic. Social Security is not at risk of vanishing outright — payroll taxes will keep partial payments flowing — but absent reforms, retirees could see sharp benefit cuts within a decade. The changes Trump signed will put more money in seniors’ pockets now, but may worsen the program’s finances for their children and grandchildren. Key takeaways: Seniors will pay less (often no) federal tax on Social Security, starting now. The solvency crisis is now likely to arrive sooner — with potential benefit cuts by 2032 unless new revenue or reforms are enacted. Younger Americans may face higher payroll taxes, later retirement ages, or both, to sustain future benefits. The political fight over a permanent fix has just begun, and voters should watch closely for real solutions, not just campaign slogans. While Social Security remains a safety net for approximately 70 million Americans, it stands at a crossroads — and despite the presidential optimism, its long-term stability depends on tough choices that Washington, so far, has chosen to avoid. For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.  Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More