Sam Altman’s new power

If you’re in the US, I hope you had a great and restful Thanksgiving. One thing I’m extremely thankful for this year — and every year for the last decade and a half — is the incredible, informative, and transformative journalism my colleagues at BI produce on a daily basis.

• Few CEOs can claim to have the power that Sam Altman just demonstrated.
• Millennial and Gen Z parents are struggling.
• Some employees say Cami Téllez ran Parade underwear into the ground.
• From black gold to green power: Texas is leading America’s clean-energy future.

Yet, however far-fetched it may seem, that’s what just happened with Sam Altman and OpenAI. Staff were even reported to have celebrated Altman’s return with a party featuring a smoke machine — but then again, wild tech parties aren’t quite as uncommon.

BI explored what’s behind Altman’s power and why, by many accounts, he is no ordinary business leader.

Read the full story.

Also read:

• Yes, Sam Altman is back as OpenAI’s CEO, but we still have lots of unanswered questions
• ‘Chessmaster’ Microsoft CEO Satya Nadella was the true winner from the OpenAI fiasco, Wedbush analyst says

They’re isolated, overwhelmed, and stressed out about money. And with an economic burden on their shoulders, they’re facing a series of impossible decisions: leaving jobs, moving away from friends or families, or working longer hours to make ends meet.

One millennial parent told BI, “The way things are right now, it’s pretty messed up and the odds are definitely stacked against us.”

More on the new paradigm of parenthood.

Also read:

• Millennials say they need $525,000 a year to be happy. A Nobel prize winner’s research shows they’re not wrong.
• Six HENRYs detail how they save and invest their six-figure incomes — and what financial stresses they’re preparing for.

BI spoke with 22 former and four current employees — and many said the way that cofounder and former CEO Cami Téllez ran her company was at least partially responsible for its flameout. Téllez, meanwhile, told BI she did what she had to do to keep her company afloat.

Inside the flameout at Parade.

With the strain on the state’s electrical grid getting more intense, some politicians are trying to prop up fossil fuels and penalize renewables, arguing that it would make the grid more reliable.

A high-stakes battle is taking place for the future of Texas’ energy — and it’s a microcosm of just how tricky America’s green transition is shaping up to be.

Read more. 

— Our cofounder Henry Blodget details why work isn’t like school and why you need to take control — as part of his new work-advice column on navigating the modern professional world.

• Kevin O’Leary: How I handle family members who ask for money.
• Jack Dorsey tells Block employees he’s ending PIPs in favor of “parting ways immediately.”
• Be warned: Flights are getting bumpier.
• BlackRock is overhauling its lobbying unit, a leaked memo shows.
• China’s share of the global economy is falling by the most since Mao Zedong, and the historic turn could “reorder the world.”
• Housing economists have a great idea that could fix just about everything.
• A leaked email outlines Amazon’s big plans for the AI tech all of Silicon Valley is chasing.

Nicholas Carlson, global editor in chief, in New York City. Matt Turner, editor in chief of business, in New York City, Dan DeFrancesco, senior editor and anchor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Lisa Ryan, executive editor, in New York.

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