US President Donald Trump and EU chief Ursula von der Leyen were set for make-or-break talks in Scotland Sunday, aimed at ending a months-long transatlantic trade standoff, as negotiations went down to the wire.

Trump has said he sees a one-in-two chance of a deal with the European Union, which faces an across-the-board US levy of 30 percent unless it strikes a trade pact by August 1 — with Washington warning Sunday there would be “no extensions.”

Von der Leyen’s European Commission, negotiating on behalf of EU countries, is pushing hard for a deal to salvage a trading relationship worth an annual $1.9 trillion in goods and services.

According to an EU diplomat briefed ahead of the meeting, set for 4:30 pm (1530 GMT), the contours of a deal are in place after talks went late into Saturday night — but key issues still need settling.

And of course the final word lies with Trump.

“A political deal is on the table — but it needs the sign-off from Trump, who wants to negotiate this down to the very last moment,” the diplomat told AFP.

The proposal, they said, involves a baseline levy of around 15 percent on EU exports to the United States — the level secured by Japan — with carve-outs for critical sectors including aircraft and spirits, though not for wine.

Any deal will need to be approved by EU member states — whose ambassadors, on a visit to Greenland, were updated by the commission Sunday morning, and would meet again after any accord.

According to the EU diplomat, the 27 countries broadly endorsed the deal as envisaged — while recalling their negotiating red lines.

Baseline tariff

The Trump-von der Leyen meeting was taking place in Turnberry on Scotland’s southwestern coast, where the president owns a luxury golf resort. He was out on the course for much of the weekend.

The 79-year-old Trump said Friday he hoped to strike “the biggest deal of them all” with the EU.

“I think we have a good 50-50 chance,” the president said, citing sticking points on “maybe 20 different things”.

The EU is focused on getting a deal to avoid sweeping tariffs that would further harm its sluggish economy — while holding out retaliation as a last resort.

Under the proposal described to AFP, the EU would commit to ramp up purchases of US liquefied natural gas, along with other investment pledges.

Pharmaceuticals — a key export for Ireland — would also face a 15-percent levy, as would semi-conductors.

The EU also appears to have secured a compromise on steel that could allow a certain quota into the United States before tariffs would apply, the diplomat said.

Questions on auto sector

Hit by multiple waves of tariffs since Trump reclaimed the White House, the EU is currently subject to a 25-percent levy on cars, 50 percent on steel and aluminium, and an across-the-board tariff of 10 percent, which Washington threatens to hike to 30 percent in a no-deal scenario.

It was unclear how the proposed deal would impact tariff levels on the auto industry, crucial for France and Germany, with carmakers already reeling from the levies imposed so far.

While 15 percent would be much higher than pre-existing US tariffs on European goods — averaging 4.8 percent — it would mirror the status quo, with companies currently facing an additional flat rate of 10 percent.

Should talks fail, EU states have greenlit counter tariffs on $109 billion (93 billion euros) of US goods including aircraft and cars to take effect in stages from August 7. Brussels is also drawing up a list of US services to potentially target.

Beyond that, countries like France say Brussels should not be afraid to deploy a so-called trade “bazooka” — EU legislation designed to counter coercion that can involve restricting access to its market and public contracts.

But such a step would mark a major escalation with Washington.

Ratings dropping

Trump has embarked on a campaign to reshape US trade with the world, and has vowed to hit dozens of countries with punitive tariffs if they do not reach a pact with Washington by August 1.

US Commerce Secretary Howard Lutnick said Sunday the August 1 deadline was firm and there will be “no extensions, no more grace periods.”

Polls suggest however the American public is unconvinced by the White House strategy, with a recent Gallup survey showing his approval rating at 37 percent — down 10 points from January.

Having promised “90 deals in 90 days,” Trump’s administration has so far unveiled five, including with Britain, Japan and the Philippines.

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Tesla Inc. engineering executive Lars Moravy said the company is in a “big swing moment” with its forthcoming products as he gave a wide ranging talk at a San Francisco Bay area gathering of customers and retail investors Saturday. 

Moravy, Tesla’s vice president of vehicle engineering, said he’s personally most excited about Semi truck — built at the company’s factory near Reno, Nevada — and called it key to the company’s mission. He spoke at the “X Takeover,” a day-long event in San Mateo. 

“We take big swings, and sometimes that risk can come with a lot of downside,” said Moravy, who has been with Tesla for over 15 years. “We’re in a big swing moment right now with autonomy, Robotaxis, with Optimus and with Semi.”

Optimus is the company’s humanoid robot.

Previous “Tesla Takeover” events, sponsored by the Tesla Owners of Silicon Valley club, focused on the electric vehicle maker. This year’s gathering, which drew scores of longtime Elon Musk fans, expanded to encompass SpaceX and the other companies in Musk’s overlapping business empire. Musk also spoke via video conference late in the afternoon. 

Moravy’s appearance and remarks served as a rallying cry for fans of Tesla and Musk in the face of severe challenges across the core automotive business. Tesla is losing market share as sales of its aging lineup fall in key markets around the world. That includes California, its former home where sales have declined for the last seven quarters. 

President Donald Trump’s signature tax plan ends the $7,500 tax credit for EV buyers that have helped support the market for years. It also makes key regulatory changes that Tesla executives have acknowledged will hurt revenue and profit.

On Tesla’s earnings call Wednesday, executives said the company started producing a more affordable EV in June, but it won’t be widely available until later this year so Tesla can prioritize making and selling as many of its current cars before the tax credit expires at the end of September. 

The new model, which Musk said would resemble the Model Y, is seen as crucial to buoying sales. Tesla makes five consumer vehicles: the Model S, X, 3, Y and the Cybertruck.

Moravy oversees a team of nearly 6,000 engineers who are working on several programs. He joined the company from Honda Motor Co. in 2010, the year that Tesla went public. He’s since been deeply involved in engineering every Tesla vehicle, and works closely with chief designer Franz von Holzhausen. 

On display at the event was Tesla’s forthcoming “Cybercab,” a two-seat autonomous vehicle designed without a steering wheel, as well as Optimus.

Musk has made it clear that robotics, artificial intelligence and autonomous driving represent Tesla’s future. The company is offering limited rides in Austin with Model Y vehicles that are not fully self-driving, and is expected to expand to the Bay Area sometime this weekend. 

In California, Tesla has a permit to offer rides in a non-autonomous vehicle that has a driver. The company does not have permits to deploy autonomous vehicles in the state.

This story was originally featured on Fortune.com

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Citigroup Inc. launched a premium credit card designed to rival ones offered by JPMorgan Chase & Co. and American Express Co., the latest entrant in the increasingly crowded market for cards offering high-end perks.

The ‘Strata Elite’ card will feature an annual fee of $595 — a price that the bank says can unlock almost $1,500 in value if used to its maximum potential. It offers the largest points rewards for hotels, car rentals and attractions booked on Citigroup’s travel platform, as well as restaurant dining at peak weekend times.

The card also bakes in perks for customers who fly with American Airlines Group Inc., giving four passes per year to the airline’s airport lounges and the ability to transfer Citigroup “ThankYou Points” into reward miles with the airline. That follows an expansion of the firms’ existing card partnership in December, when American Airlines chose to make Citigroup the exclusive issuer of all its credit cards.

In addition to American Express and JPMorgan, Citigroup will be competing with other banks trying to break into the premium space, including Capital One Financial Corp. The customers they vie for are highly sought after, known for their willingness to pay annual fees, and reliably spending more and prioritizing travel and hospitality.

“It’s always been highly competitive — competition makes us all better,” Pam Habner, Citigroup’s head of US branded cards and lending, said in an interview.

At $595, plus $75 a year for each authorized user, the card is cheaper than JPMorgan’s Sapphire Reserve, which Habner helped launch when she worked there in 2016. That card’s annual fee will jump to $795 from $550, JPMorgan said last month.

Read More: JPMorgan Hikes Sapphire Reserve Fee to $795 in Card Overhaul

In addition to the perks rolled out by Citigroup directly, the Strata Elite card will be the first in Mastercard Inc.’s recently announced World Legend tier of credit cards, meaning it comes with an additional suite of benefits. World Legend cards include access to the Mastercard Collection, which translates into ticket pre-sales and streamlined airport security access, among other rewards.

“We designed benefits that we know our customers can use,” Habner said, adding that the card was designed to give customers rewards for types of spending, rather than handing them coupon-style rewards to use with specific companies.

This story was originally featured on Fortune.com

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You’ve read about it all over, including in Fortune Intelligence. Maybe you or friends have been impacted: artificial intelligence is already transforming work, not least hiring and firing. Nowhere is the impact more visible than in the labor market.

The technology industry, the original epicenter of AI adoption, is now seeing many of its own workers displaced by the very innovations they helped create. Employers, racing to integrate AI into everything from cloud infrastructure to customer support, are trimming human headcount in software engineering, IT support, and administrative functions. The rise of AI-powered automation is accelerating layoffs in the tech sector, with impacted employees as high as 80,000 in one count. Microsoft alone is trimming 15,000 jobs while committing $80 billion to new AI investments.

But labor market intelligence firm Lightcast is offering a ray of hope going forward. Job postings for non-tech roles that require AI skills are soaring in value. Lightcast’s new “Beyond the Buzz” report, based on analysis of over 1.3 billion job postings, shows that these postings offer 28% higher salaries—an average of nearly $18,000 more per year. The Lightcast research underscores the split in tech and non-tech hiring: job postings for AI skills in tech roles remain robust, but the proportion of AI jobs within IT and computer science has fallen, dropping from 61% in 2019 to just 49% in 2024. This signals an ongoing contraction of traditional tech roles as AI claims an ever-larger share of the work.

AI demand explodes beyond tech

Rather than stifling workforce prospects, Lightcast’s research suggests that AI is dispersing opportunity across the broader economy. More than half of all jobs requesting AI skills in 2024 appeared outside the tech sector—a radical reversal from previous years, when AI was confined to Silicon Valley and computer science labs. Fields like marketing, HR, finance, education, manufacturing, and customer service are rapidly integrating AI tools, from generative AI platforms that craft marketing content to predictive analytics engines that optimize supply chains and recruitment.

In fact, job postings mentioning generative AI skills outside IT and computer science have surged an astonishing 800% since 2022, catalyzed by the proliferation of tools like ChatGPT, Microsoft Copilot, and DALL-E. Marketing, design, education, and HR are some of the fastest growers in AI adoption—each adapting to new toolkits, workflows, and ways of creating value.

Cole Napper, VP of research, innovation, and talent insights at Lightcast, told Fortune in an interview that he was struck by the lack of a discernible pattern for which industries were most affected by the explosion of AI skills present in job postings, noting that the arts come top of the list.

AI skills are in demand

For the workforce at large, AI proficiency is emerging as one of today’s most lucrative skill investments. Possessing two or more AI skills sends paychecks even higher, with a 43% premium on advertised salaries.

In 2024, more than 66,000 job postings specifically mentioned generative AI as a skill, a nearly fourfold increase from the prior year, according to the Lightcast’s 2025 Artificial Intelligence Index Report. Large language modeling was the second most common AI skill, which showed up in 19,500 open job posts. Postings listing ChatGPT and prompt engineering as skills ranked third and fourth in frequency, respectively.

Sectors such as customer/client support, sales, and manufacturing reported the largest pay bumps for AI-skilled workers, as companies race to automate routine functions and leverage AI for competitive advantage.

Christina Inge, founder of Thoughtlight, an AI marketing service, told Fortune in a message AI isn’t just automating busywork, it’s also becoming a tool AI-fluent workers can leverage to increase their own value to a company—and to outperform their peers. Take, for example, someone in sales using AI to create more targeted conversations to close deals faster, Inge wrote. The same can be said for customer service workers.

“[Customer service workers fluent in AI] know how to interpret AI outputs, write clear prompts, and troubleshoot when things go off script,” Inge said. “That combination of human judgment and AI fluency is hard to find and well worth the extra pay.”

In fields like marketing and science, even single AI skills can yield large returns, while more technical positions gravitate to specialists with advanced machine learning or generative AI expertise.

Crucially, the most valued AI-enabled roles demand more than just technical wizardry. Employers prize a hybrid skillset: communication, leadership, problem-solving, research, and customer service are among the 10 most-requested skills in AI-focused postings, alongside technical foundations like machine learning and artificial intelligence.

“While generative AI excels at tasks like writing and coding, uniquely human abilities—such as communication, management, innovation, and complex problem-solving—are becoming even more valuable in the AI era,” the study says.

Winners and losers

The emerging repercussions are striking. Tech workers whose roles are readily automated face rising displacement—unless they can pivot quickly into emerging areas that meld business, technical, and people skills. Meanwhile, millions of workers outside of tech are poised to translate even basic AI literacy into new roles or wage gains. The competitive edge now lies with organizations and professionals agile enough to combine AI capabilities with human judgement, creativity, and business acumen.

For companies, the risk is clear: treating AI as an isolated technical specialty is now a liability. Winning firms are investing to embed AI fluency enterprise-wide, upskilling their marketing teams, HR departments, and finance analysts to build a future-ready workforce.

AI may be the source of turmoil in Silicon Valley boardrooms, but its economic dividends are flowing rapidly to workers—and companies—in every corner of the economy. For those able to adapt, AI skills are not a harbinger of job loss, but a passport to higher salaries and new career possibilities. Still, the research doesn’t indicate exactly where in the income levels the higher postings are coming, so Napper said it’s possible that we are seeing some compression, with higher-paid tech jobs being phased out and lower-paying positions being slightly better-paying.

Napper said the trend of AI skills cropping up in job postings has exploded over the past few years, and he doesn’t expect a slowdown anytime soon. Napper said there’s a “cost to complacency”—one that includes a significant salary cut. He added that the 28% premium, Lightcast plans to release follow-up research on what level of the income latter the trend is hitting the most.

For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. 

This story was originally featured on Fortune.com

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• Denny’s CEO Kelli Valade isn’t afraid to admit she’s always working to be better—and she values that same humility in job candidates. Recognizing your weaknesses and asking thoughtful questions, she says, can set you apart in an interview. It’s a mindset shared by Nvidia CEO Jensen Huang, who got his start as a Denny’s dishwasher and credits the journey teaching him hard work and humility.

Landing a job in today’s market can feel like finding a needle in a haystack. Not only do you have to find a role that you’re interested in—and are qualified for—but you also have to craft an application, resume, and cover letter that’s interesting to both humans and AI. But once you land the coveted interview, that’s when the pressure is on. 

Luckily, even during an era of AI-assisted interviews, there remain ways to stick out from the crowd.

When asked what her red flags are in hiring, Kelli Valade, CEO of Denny’s Corporation, noted that she asks applicants a few critical questions.

One of the signs Valade looks for comes at the end of the interview, when she asks: what questions do you have for me?

“Have a thoughtful one or two. You don’t really even have to have more than that,” she tells Fortune. “Any more than that, actually, it’s too much.”

In fact, it often does not matter what the questions are, but the fact that you do ask shows you did your homework and are seriously interested, Valade adds. 

(However, Shark Tank star Barbara Corcoran advises candidates to ask, “Is there anything standing in the way of you hiring me?”)

She also is sure to ask: what would they say makes you most effective at what you do? Typically, candidates are pretty well equipped to answer that question, Valade says.

“Then I ask them, what would make them more effective?” she explains. “Which basically is saying, what are your weaknesses? And there you’d be amazed at how many people can’t answer that, or would say, ‘I’ve not thought about it.’ And so really what you’re saying is, ‘I’ve not thought about my weaknesses.’”

The 55-year-old admits that she herself is a work in progress, but what’s helped her stand out throughout her career is not shying away from admitting her areas of improvement. It’s something she hopes to see in her employees, too.

From Denny’s dishwasher to leading the world’s biggest company

Now that you know tips for getting hired at Denny’s, you may ask, why work at the restaurant chain?

There may be no more notable member of Denny’s employee alumni than Jensen Huang. The now billionaire CEO of Nvidia started his career at the diner as a dishwasher at just 15 years old—and it’s experience he credits for teaching him about hard work.

“I planned my work. I was organized. I was mise en place,” Huang told students at Stanford’s Graduate School of Business last year. “I washed the living daylights out of those dishes.”

“No task is beneath me,” he added. “I used to be a dishwasher. I used to clean toilets. I cleaned a lot of toilets. I’ve cleaned more toilets than all of you combined. And some of them you just can’t unsee.”

And while his time at Denny’s came well before Valade’s tenure, she says they are now friends today—and the billionaire continues to pay homage to the diner. His LinkedIn notably only includes two employers: Denny’s and Nvidia. He also made an appearance last year at Denny’s franchise convention and partnered with the company to launch a special edition “Nvidia Breakfast Bytes.”

“Start your first job in the restaurant business,” Huang said in 2023. “It teaches you humility, it teaches you hard work, it teaches you hospitality.”

From hostess to CEO

Valade started her career in the restaurant space at just age 16, when she landed a hostess job at TJ’s Big Boy. Decades later, she began climbing up the corporate ladder in the human resources world—with the dream of one day becoming a chief people officer, not necessarily becoming a CEO. 

So when she was tapped to jump from head of HR to chief operations officer at Chili’s, self-doubt was her first instinct.

“I didn’t think I could do that at the time,” she recalls. “I thought, I think you’re looking for the wrong person here. I don’t know. My first instinct was, I’m not sure I know how to do that.”

While the feeling is natural, she adds leaders—and especially women—should self-reflect on whether you are holding yourself back from a greater potential.

“Push yourself and challenge yourself on why you may not feel like that,” she adds.

After later rising to brand president at Chili’s and CEO of Red Lobster, Valade was tapped to become Denny’s CEO in 2022, centering her career on two of her favorite things: people and pancakes.

This story was originally featured on Fortune.com

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A seismic generational shift is underway, and its epicenter is Generation Z. Born from 1997 onward, Gen Z is coming of age in a world where traditional milestones like landing a lifelong job, buying a house in your 20s, or chasing wealth for its own sake have become difficult, or borderline impossible, in the modern economy. Gen Z has responded pragmatically, insisting, well, maybe they don’t really want those things anyway.

A massive new study from EY’s Generational Dynamics core team, spanning more than 10,000 young adults across 10 countries and five continents, finds Gen Z is often misunderstood—and their measured approach should define them as the “pragmatic generation.” The authors, Marcie Merriman and Zak Dychtwald, wrote Gen Z approaches “life’s traditional milestones” with a sort of “reasoned skepticism.”

According to Joe Depa, EY Global chief innovation officer, the research reveals how 18- to 34-year-olds are taking a surprisingly pragmatic approach to adulthood, finances, and their future. “Far from being financially reckless,” Depa tells Fortune Intelligence, “this generation is focused on long-term stability — and redefining success along the way.”

Money, for them, is necessary but not the be-all and end-all: 87% say financial independence is important, yet only 42% rate wealth as a primary marker of success, trailing far behind metrics like mental and physical health and family relationships. Put simply, for Gen Z, financial stability is a tool—not a goal. They use money to open doors to flexibility, purpose, and well-being.

Depa says the research “tells a different story” about Gen Z. “The idea that young adults are postponing adulhtood is outdated.” They’re approaching life milestones not with rebellion but with “reasoned skepticism and a global perspective.” As employees and customers, Gen Z will challenge organizations that have been wired around a different way of doing things. For business leaders, understanding this shift will be vital to attracting and retaining talent.

The job hoppers

Where baby boomers and Gen Xers often stuck with one employer for decades, Gen Z is dismantling that concept.

EY’s research found 59% of young adults globally expect to work for two to five organizations throughout their lives, and nearly 20% say they will work for six or more. This flexible approach to employment—embracing job changes and flexible gig work—reflects not only a desire for varied experiences, but a strategic response to rapid change, uncertainty, and a lifetime of economic instability.

“Younger generations are not merely reacting to financial constraints,” the EY Generational Dynamics team writes, but making rational and thoughtful decisions about what aligns with both their own lived experiences and the pitfalls suffered by previous generations. EY says it’s a perspective that contrasts sharply with the “pull yourself up by your bootstraps” mentality often espoused by older generations, with Gen Z finding that to be dismissive of their specific context.

Redefining success: inside out, not outside in

Success, in Gen Z’s eyes, is an inside-out project: emotional well-being, strong relationships, and impact outrank titles and salaries. It’s no longer about ticking the boxes of homeownership, lifelong employment, or even traditional family milestones. Landmarks such as marriage and children are being postponed—not out of rejection, but for pragmatic reasons: economic insecurity, housing unaffordability, and a desire to be emotionally and financially prepared.

The rise of job-hopping has replaced the well-worn “script” of adulthood: Only 59% see working for a single organization as a viable path, whereas nearly 20% of respondents said they plan to work for six or more employers in the course of their careers. Linear career ladders and employer loyalty are giving way to “project-based” growth, taking new jobs, and side hustles, all in search of variety, autonomy, and purpose. “Job hopping is not viewed as a negative, but an essential step to open doors and advance opportunities,” the EY team writes.

The average Gen Z respondent reports feeling like an adult earlier than previous generations, and as a result, more than half (51%) said they prioritize physical and mental health as their chief markers of success, with family ties also outranking wealth in many countries. The push for authenticity is also striking; 84% cite “being true to oneself” as extremely important.

Employers, beware (and evolve)

For Gen Z, a job is not a life sentence, nor is money alone enough to keep them engaged. Employers used to loyalty and linear career ladders may be blindsided by Gen Z’s willingness to prioritize purpose, wellness, and flexibility—even if it comes at the expense of job security or long-term benefits. Conventional incentives are losing their grip.

For employers, this new pragmatism is both a wake-up call and an opportunity. Flexibility is mandatory, with hybrid and remote work, fluid hours, and support for “micro-retirements” between jobs becoming non-negotiable.

Gen Z expects employers to have clear values around well-being, sustainability, and social justice—and to act on them. Over 70% want their employer to be transparent about values and pay, and are unafraid to challenge leadership if authenticity is found wanting. This generation will quickly leave if growth stalls: 57% would quit for better professional development. They crave mentorship, personalized learning, and a sense of upward mobility.

Gen Z is less loyal to brands or employers unless that loyalty is returned; nearly half say they have “zero loyalty” to brands, and only about 60% feel any loyalty to their employer. Empathetic leadership and honest, two-way communication are expected, not a bonus.

Gen Z wants to be included in company decisions and expects a seat at the table. This finding aligns with separate research from Glassdoor, whose Worklife Trends report in June 2025 found emotional intelligence is now a standard expectation held by workers, many of them Gen Z. “The bar on what constitutes a good manager has been raised,” Glassdoor chief economist Daniel Zhao previously told Fortune Intelligence.

Employers slow to adapt to these realities won’t just struggle to recruit Gen Z—they’ll risk losing relevance altogether. The pragmatic playbook demands companies redesign everything from hiring and communication to values and pay structures.

The flip side? Gen Z’s pragmatism can also be an asset: They are technologically adept, mission-driven, and resourceful. But their skepticism can also translate into disengagement or even open dissatisfaction if workplaces fail to address their real priorities. Businesses would be pragmatic in their own right to tune into what Gen Z values most—authentic leadership, transparent communication, and support for well-being—if they want to retain this generation.

For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. 

This story was originally featured on Fortune.com

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• Multimillionaire Shark Tank investor Kevin O’Leary looks for three star qualities in the entrepreneurs he goes into business with: those who have a “founder’s mindset,” a balanced talking-to-listening ratio, and executional prowess. From working with the likes of late Apple cofounder Steve Jobs and multimillion-dollar entrepreneurs to being an investor on his hit-TV show, he’s picked up a few patterns of the most successful people. 

Multimillionaire entrepreneur Kevin O’Leary knows a thing or two about picking the right people and ideas to invest in. Having worked with greats like Steve Jobs, not to mention his success on Shark Tank backing businesses generating millions, he’s picked up on a few key qualities in great founders. 

O’Leary looks for three qualities in the people he chooses to do business with. The 71-year-old investor tells Fortune the most critical trait is having “founder’s mindset”: adopting a frame of mind that prioritizes “signal,” or what has to get done in the next 18 hours, while drowning out the “noise” of everyday life and complications. He witnessed this demeanor while working with Jobs, when Apple was partnering with O’Leary’s $4.2 billion software company SoftKey Software Products. He requires that the founders he invests in have that same leadership ethos—even if it’s a quality that’s hard to come by. 

“The ability to see all the noise coming at you and filter it out, and focus on the three to five things you’re going to get done, that’s a remarkable attribute,” O’Leary tells Fortune. “You find that in 30% of the people. Then you want to back those people, because if they’re not successful in their first mandate, they’re going to figure it out. That attribute is very important.”

When it comes to the signal versus the noise, he currently operates on a 80:20 balance, just like Jobs did while running Apple, and looks for entrepreneurs who can keep their eye on the ball.

O’Leary admits that he didn’t always have the right ratio in embodying the founder’s mindset—but now has achieved it, and looks for it in others.

“You have to decide everyday, every 18 hours, what three to five things you have to get done,” O’Leary says. “It’s not the big vision. It’s what you have to get done in the next 18 hours that matters.”

The two other traits a founder needs to have O’Leary’s backing

O’Leary has heard hundreds—if not thousands—of entrepreneurs plead their business case while starring on Shark Tank. Thanks to his intuition from decades in the game, he’s worked alongside and invested in a lot of winners.

In 2014, O’Leary put $150,000 down for 80% of licensing profits of small photo-book subscription service Groovebook, which was later bought by Shutterfly for $14.5 million, making it one of the show’s biggest acquisitions.

He also had luck with sustainable cleaning-products business Blueland, investing $270,000 for 3% equity and $0.50 per unit royalty until principal was recouped. By 2022, Blueland made over $100 million in lifetime sales and profitability, with its products now flying off the shelves of Target and Whole Foods every 10 seconds.

It’s clear the serial investor has developed a keen eye for what will work well. In addition to the “founder’s mindset,” the serial investor also emphasizes the importance of having a balanced listening-to-talking ratio and strong executional skills, which he says is “impossible to find.” 

He says he didn’t always get the talking-to-listening balance right. Wall Street and Silicon Valley executives may think they should be the loudest and most outspoken people in the room—but taking a backseat and giving others the floor is important, too. Not enough listening and too much talking may stifle great business ideas that get drowned out.

“Reverse the ratio of talking and listening. Most people love to hear themselves talk—I was guilty of that for years, and I’ve reversed it,” O’Leary says. “I listen two thirds of the time, and I talk one third of the time. That’s my new ratio, and it’s much more powerful.”

Lastly, the baby boomer investor looks for unparalleled executional skills. Coming up with the next billion-dollar business venture is one thing, but getting it off the ground is another.

O’Leary looks for founders and teams that can get the job done—even if it takes more than one try. Being an excellent executor doesn’t always mean hitting a home run your first time at bat. Sometimes, O’Leary says, investors and entrepreneurs need a little karma and luck. 

“Great ideas are dime a dozen—executional skills are impossible to find,” O’Leary continues. “I’ve invested in lots of teams over the years that screw up their first deal, they go to zero, and then I invest again, and I get a huge hit, because I know they’re good.

“I’m working on a deal right now with a team that I just finished a great execution with, and hopefully will be good on the second one. I like to work with people that I know have proven executional skills.”

This story was originally featured on Fortune.com

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Hydrogen fuel cell cars (FCEVs) have been on the market for a similar duration to the current wave of battery EVs (BEVs). But they have sold a tiny fraction in comparison. In 2024, 12,866 FCEVs were registered globally, versus 10.8 million BEVs. Still, some manufacturers have hopes that hydrogen has a role to play in transport.

One of these is BMW, which recently announced it would be bringing its first FCEV into series production in 2028. Fortune caught up with BMW Group’s General Project Manager Hydrogen Technology and Vehicle Projects, Jürgen Guldner, at a recent summit promoting FCEVs, among other hydrogen evangelists.

Toyota has been the leading seller of FCEVs with the Mirai launched in 2014, but it isn’t the only player. Hyundai has been selling its Nexo since 2018, and Honda, after offering various cars under the Clarity name from 2008 to 2021, brought its CR-V e:FCEV plug-in hybrid hydrogen car to market in 2024. BMW has been more cautious. The company has been trialling FCEVs with a pilot run of vehicles based on X5 since 2023. The iX5 Hydrogen is already a credible vehicle, with smooth driving and a familiar X5 interior. However, this won’t necessarily be the vehicle that BMW will launch in 2028.

“The good news is a hydrogen vehicle is an electric vehicle,” says Guldner. “It’s just a different way of storing the energy versus a battery, which also means that we can reuse a lot of the components like the electric motors in the car from our BEVs. It also has a unique value proposition. It’s the best of both worlds, with all the benefits of electric driving—acceleration, silent driving, zero emission—but you can refuel in 3 to 4 minutes and you’re 100% full and ready to go again.”

The problem of hydrogen infrastructure

This has always seemed like a compelling argument for hydrogen on paper, but the reality has been that hydrogen refueling hasn’t proliferated like BEV charging stations. In fact, it has gone backwards in many countries. In the UK, in 2019 there were as many as 15 hydrogen fuel stations, whereas today in 2025 only four were listed, with two potentially not in service. By contrast, according to Zap-Map, there were 39,733 public charging locations in the UK in May 2025, with 80,998 devices and 115,241 connectors. Germany is better served for hydrogen refueling, but some European countries have no stations at all, such as Spain, Portugal and Italy.

Some hydrogen proponents argue that this is a strategic mistake if your goal is to decarbonize road transport.

“FCEVs are complementary to battery electric vehicles and heading towards one common direction,” says David Wong, head of technology and innovation at the Society of Motor Manufacturers and Traders. “If you invest in both charging infrastructure and the fuel cell hydrogen refilling infrastructure, the overall cost is lower. We’ve done modelling where they use Germany as an example. It shows that if we have a motor park penetration of 90% BEVs and 10% FCEVs, the overall cost of investing in infrastructure is $40 billion lower than the scenario where 100% of infrastructure is public charge points.”

There is also concern about resource usage when manufacturing BEVs. Guldner points out batteries requires a lot of raw materials, which could lead to scarcity.

“Having a second technology, not putting all eggs in one basket, provides resilience,” he explains. “BMW having two technologies is better than one. We got a lot of feedback from people saying BEVs don’t work for them. We’re thinking about those people who can’t or don’t want to use battery electric cars because maybe they don’t have electric charging at home, or are on the road a lot and don’t want to depend on charging stops, even if you can get them down to maybe 20 minutes. We have issues like towing and cold weather conditions. In the fuel cell you can use excess heat, so you don’t lose any range.”

This still leaves the problem with how you ramp up the infrastructure to support hydrogen. A commercial DC charger might be $50,000, a home charger can cost $1,000, or you can even use a very slow $200 mains plug cable.

But the price for a hydrogen station is much greater—between $1.5 and $2 million, although some estimate as much as $4 million. The solution, at least in the UK, is to target the long-haul commercial sector first and build out from that. HyHAUL is a project aiming to achieve that.

“The biggest challenge with hydrogen is the fact that it works very well at large scale, but not so good at small scale,” says Chris Jackson, CEO and founder of Protium Green Solutions, which co-founded HyHAUL. “One single hydrogen fueling station requires hundreds of passenger cars to make the economics work, but only a very small number of trucks. We are initially developing three major refueling stations and all we need to get the project off the ground is 30 fuel cell trucks. The first stage will be along the M4 corridor. We’ll be covering from Wales all the way into the M25 around London. Over time, we plan to expand across other networks, going up the M5 and M6.”

For consumer adoption of FCEVs, however, it would be necessary to cover the UK completely within half an hour driving distance, which would require about 1,300 stations. One of the reasons why Tesla was able to kickstart the BEV revolution so effectively was its two-pronged approach of building the supportive charging infrastructure to go with its cars.

Automakers developing FCEVs have traditionally left this to third parties, leading to a chicken-and-egg situation where car adoption awaited infrastructure, and vice versa. This has meant that as BEVs have reached a tipping point in many markets, including the UK, EU and China, while FCEVs wait in the wings.

Can fuel cells prevail?

This hasn’t prevented Toyota from persevering with FCEVs. “Our role is to provide customers with choice,” says Jon Hunt, senior manager, Hydrogen Transformation, Toyota GB. “We can’t have people dismissing technologies that are there to enable us all to learn and develop.”

Commercial vehicles could help FCEVs reach that tipping point. In Paris, around 1,000 FCEV taxis have been operated by Hype since 2015, the majority of which are Toyota Mirais. For this reason, Paris has six hydrogen fuel stops with three more being built. This could lay the groundwork for consumers to adopt FCEVs in the city. However, outside Paris there is no supportive infrastructure yet, preventing long journeys beyond the urban limits. Hype has also recently said it is pivoting away from FCEVs to BEVs.

Even with full launch still three years away, BMW is placing a heavy bet on infrastructure having improved sufficiently for hydrogen to be a viable choice for consumers by 2028.

Guldner notes BMW hasn’t yet decided which countries it will bring those vehicles to market, adding that it will depend on the infrastructure.

“Right now, it’s simply not here in the UK. But hopefully in the next few years, development will pick up,” he says.

The exact model that will go into production in 2028 also hasn’t been announced. And while a price hasn’t been unveiled either, BMW is hoping for parity with BEVs, Guldner says, pointing to previous dramatic cost reductions in other technologies like batteries and solar cells.

For these cost reductions to materialize, though, there has to be enough demand for FCEVs to deliver sufficient scale.

“I am always surprised by surveys in newspapers where so many people say they would prefer a hydrogen vehicle over battery power,” he says. “There seems to be demand there.”

The question will be whether these survey responses translate into vehicle sales. In 2028, when BMW launches its production FCEV, we could find out.

This story was originally featured on Fortune.com

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Last week, Microsoft announced that it would no longer use China-based engineering teams to support the Defense Department’s cloud computing systems, following ProPublica’s investigation of the practice, which cybersecurity experts said could expose the government to hacking and espionage.

But it turns out the Pentagon was not the only part of the government facing such a threat. For years, Microsoft has also used its global workforce, including China-based personnel, to maintain the cloud systems of other federal departments, including parts of Justice, Treasury and Commerce, ProPublica has found.

This work has taken place in what’s known as the Government Community Cloud, which is intended for information that is not classified but is nonetheless sensitive. The Federal Risk and Authorization Management Program, the US government’s cloud accreditation organization, has approved GCC to handle “moderate” impact information “where the loss of confidentiality, integrity, and availability would result in serious adverse effect on an agency’s operations, assets, or individuals.”

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Earth is about 71 percent water. An overwhelming 97 percent of that water is found in the oceans, leaving us with only 3 percent in the form of freshwater—and much of that is frozen in the form of glaciers. That leaves just 0.3 percent of that freshwater on the surface in lakes, swamps, springs, and our main sources of drinking water, rivers and streams.

Despite our planet’s famously blue appearance from space, thirsty aliens would be disappointed. Drinkable water is actually pretty scarce.

As if that doesn’t already sound unsettling, what little water we have is also threatened by climate change, urbanization, pollution, and a global population that continues to expand. Over 2 billion people live in regions where their only source of drinking water is contaminated. Pathogenic microbes in the water can cause cholera, diarrhea, dysentery, polio, and typhoid, which could be fatal in areas without access to vaccines or medical treatment.

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Hot on the heels of a major ransomware group being taken down through an international law enforcement operation comes a new development that highlights the whack-a-mole nature of such actions: A new group, likely comprised of some of the same members, has already taken its place.

The new group calls itself Chaos, in recognition of the .chaos name extension its ransomware stamps on files it has encrypted and the “readme.chaos[.]txt” name given to ransom notes sent to victims. Researchers at Cisco’s Talos Security Group said Thursday that since Chaos emerged in February, it has engaged in “big-game hunting”—meaning attacks designed to extract hefty payments—that have mainly targeted organizations in the US and, to a lesser extent, the UK, New Zealand, and India. Talos said it recently observed the group demanding a ransom of about $300,000.

Walking in your footsteps

In exchange for paying the demanded ransom, victims get a pinky swear that they’ll receive a decryptor and a detailed report of the vulnerabilities the group members found in the victim’s network and that the group will delete all the data in its possession. Victims who refuse to pay face the threat of never getting their data unlocked, having data publicly disclosed, and being subjected to distributed denial-of-service attacks.

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A rare global interruption in the Starlink satellite Internet network knocked subscribers offline for more than two hours on Thursday, the longest widespread outage since SpaceX opened the service to consumers nearly five years ago.

The outage affected civilian and military users, creating an inconvenience for many but cutting off a critical lifeline for those who rely on Starlink for military operations, health care, and other applications.

Michael Nicolls, SpaceX's vice president of Starlink engineering, wrote on X that the network outage lasted approximately 2.5 hours.

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Christina Chapman, a 50-year-old Arizona woman, has just been sentenced to 102 months in prison for helping North Korean hackers steal US identities in order to get "remote" IT jobs with more than 300 American companies, including Nike. The scheme funneled millions of dollars to the North Korean state.

Why did Chapman do it? In a letter sent this week to the judge, Chapman said that she was "looking for a job that was Monday through Friday that would allow me to be present for my mom" who was battling cancer. (Her mother died in 2023.) But "the area where we lived didn't provide for a lot of job opportunities that fit what I needed. I also thought that the job was allowing me to help others."

She offered her "deepest and sincerest apologies to any person who was harmed by my actions," thanked the FBI for busting her, and said that when she gets out of prison, she hopes to "pursue the books that I have been working on writing and starting my own underwear company."

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In December 2010, a study led by a NASA astrobiology fellow claimed to have found an alien-like microbe in a salty, alkaline lake in California. This extraordinary bacterium could reportedly thrive using the toxic element arsenic in place of phosphorus—otherwise thought essential for life on Earth. It even incorporated arsenic, instead of phosphorus, into the backbone of its DNA, according to the study, which was published online by the prestigious journal Science.

If true, the claims were groundbreaking. And NASA's press team only hyped the potential significance. In press materials, the agency claimed the finding "begs a rewrite of biology textbooks" and "will impact the search for evidence of extraterrestrial life." In a subsequent press conference, the lead author, Felisa Wolfe-Simon, didn't hold back, either, saying, "We've cracked open the door to what's possible for life elsewhere in the universe and that's profound."

Backlash

But upon that very splashy debut, outside scientists quickly identified flaws and problems in the study. When the study finally appeared in the June 3, 2011, print issue of Science, it was accompanied by eight "technical comments" blasting the study claims.

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A firmware update has killed key functionality for Echelon smart home gym equipment that isn't connected to the Internet.

As explained in a Tuesday blog post by Roberto Viola, who develops the "QZ (qdomyos-zwift)" app that connects Echelon machines to third-party fitness platforms, like Peloton, Strava, and Apple HealthKit, the firmware update forces Echelon machines to connect to Echelon’s servers in order to work properly. A user online reported that as a result of updating his machine, it is no longer syncing with apps like QZ, and he is unable to view his machine's exercise metrics in the Echelon app without an Internet connection.

Affected Echelon machines reportedly only have full functionality, including the ability to share real-time metrics, if a user has the Echelon app active and if the machine is able to reach Echelon’s servers. Viola wrote:

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On Thursday, The Verge reported that OpenAI is preparing to launch GPT-5 as early as August, according to sources familiar with the company's plans. The report comes five months after CEO Sam Altman first laid out a roadmap for the next-generation AI model that would unify the company's various AI capabilities. OpenAI CEO Sam Altman revealed in a post on X last week that the company plans to release GPT-5 "soon."

According to The Verge's Tom Warren, Microsoft engineers began preparing server capacity for GPT-5 as early as late May, but testing and development challenges pushed the timeline back. During an appearance on Theo Von's podcast this week, Altman demonstrated the model's capabilities by having it answer a question he couldn't. "I put it in the model, this is GPT-5, and it answered it perfectly," Altman said, saying it gave him a "weird feeling" to see the AI model answer a question that he couldn't.

GPT-5 has been a highly anticipated release since the launch of GPT-4 in March 2023. In fact, we first wrote about rumors of GPT-5's launch in March 2024, but it appears that GPT-5 did not materialize last year because the company saved the "GPT-5" name for a future release.

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I maintain a to-do list of story ideas to write at Ars, and for about a year "monthly column on DOS games I love" has been near the top of the list. When we spoke with the team at GOG, it felt less like an obligation and more like a way to add another cool angle to what I was already planning to do.

I'm going to start with the PC game I played most in high school and the one that introduced me to the very idea of online play. That game is Descent.

As far as I can recall, Descent was the first shooter to be fully 3D with six degrees of freedom. It's not often in today's gaming world that you get something completely and totally new, but that's exactly what Descent was 30 years ago in 1995.

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One week after Delta announced it is expanding a test using artificial intelligence to charge different prices based on customers' personal data—which critics fear could end cheap flights forever—Democratic lawmakers have moved to ban what they consider predatory surveillance pricing.

In a press release, Reps. Greg Casar (D-Texas) and Rashida Tlaib (D-Mich.) announced the Stop AI Price Gouging and Wage Fixing Act. The law directly bans companies from using "surveillance-based" price or wage setting to increase their profit margins.

If passed, the law would allow anyone to sue companies found unfairly using AI, lawmakers explained in what's called a "one-sheet." That could mean charging customers higher prices—based on "how desperate a customer is for a product and the maximum amount a customer is willing to pay"—or paying employees lower wages—based on "their financial status, personal associations, and demographics."

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Despite concerns over the environmental impacts of AI models, it's surprisingly hard to find precise, reliable data on the CO₂ emissions and water use for many major large language models. French model-maker Mistral is seeking to fix that this week, releasing details from what it calls a first-of-its-kind environmental audit "to quantify the environmental impacts of our LLMs."

The results, which are broadly in line with estimates from previous scholarly work, suggest the environmental harm of any single AI query is relatively small compared to many other common Internet tasks. But with billions of AI prompts taxing GPUs every year, even those small individual impacts can lead to significant environmental effects in aggregate.

Is AI really destroying the planet?

To generate a life-cycle analysis of its "Large 2" model after just under 18 months of existence, Mistral partnered with sustainability consultancy Carbone 4 and the French Agency for Ecological Transition. Following the French government's Frugal AI guidelines for measuring overall environmental impact, Mistral says its peer-reviewed study looked at three categories: greenhouse gas (i.e., CO₂) emissions, water consumption, and materials consumption (i.e., "the depletion of non-renewable resources," mostly through wear and tear on AI server GPUs). Mistral's audit found that the vast majority of CO₂ emissions and water consumption (85.5 percent and 91 percent, respectively) occurred during model training and inference, rather than from sources like data center construction and energy used by end-user equipment.

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The sport of off-roading suffers from a fundamental discordance: The desire to get out into nature and the irreparable harm inherent in the process of off-roading. That harm comes not only from damage to the land itself, but from an environment polluted with both fumes and noise.

Off-roading in an EV isn't exactly a panacea, but it goes a long way toward at least solving those last two concerns. Over the years, I've been lucky enough to off-road in quite a few extremely capable EVs, but none more so than the new Stark Varg EX. This thing is an all-terrain monster, a diminutive 264 lb (120 kg) motorcycle with twice the torque of a Porsche 911 GT3, enough capability to cross nearly anything you care to run it over, and just enough civility to be street-legal.

It's a wildly impressive two-wheeled machine—but one that's not quite ready for primetime.

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