When I saw a British newspaper warning that rich Americans were "invading" the Cotswolds, I had to see for myself if the headlines matched reality.
In late October, I made the 90-minute train journey from London to the quaint collection of towns and villages in the English countryside, as I've done many times for family holidays and weekend escapes.
I didn't find an "invasion," but it was clear the Cotswolds is changing — and fast. This sense didn't just come from the American-sounding accents I heard on the streets, but from conversations with the people I met.
Last year, Ellen DeGeneres and Portia de Rossi bought a $20 million estate here. Tom Cruise, as well as Jay-Z and Beyoncé, are rumored to be next. Recent visitors include Taylor Swift, Kourtney Kardashian, Bill Gates, and Vice President JD Vance — along with the rich and powerful who keep a low profile.
The Cotswolds was already a hotspot for the wealthy before Americans took serious interest. Its existing luxury amenities are part of its appeal, helping to create a cycle of upmarket offerings attracting more and more affluent visitors.
In 2023, the upscale American home furnishings brand RH opened shop on the grounds of a 17th-century country estate, and last year the Cotswolds added Estelle Manor to its roster of members' clubs, which also includes Soho House.
Meanwhile, Americans are among the ultra-wealthy snapping up heritage homes, a considerable number of which are on the market for upwards of $10 million.
This series looks at how the Cotswolds has transformed into a playground for America's rich and famous, earning it the nickname "The Hamptons of England."
A line of used Tesla EVs at a showroom in California.
Kevin Carter/Getty Images
EVs were once the future in the US. Now, they're at risk of short-circuiting.
Policy changes, tariffs, and supply chain disruptions have sparked warnings of an EV deep freeze.
One analyst told BI that the US was at risk of falling behind just as China's EV giants race ahead.
Electric vehicles are facing a perfect storm in the US — and it's threatening to throw the industry into a deep freeze.
A nightmare combination of policy changes, tariffs, and supply chain upheavals has prompted automakers that once set ambitious EV targets to revise their strategies, lay off workers, and double down on hybrids and gasoline vehicles.
CEOs have been sounding the alarm bells for a while.
The end of the $7,500 tax credit for new electric vehicles in September prompted Ford boss Jim Farley to predict that EV market share in the US would nearly halve to around 5% in the near term, while Tesla CEO Elon Musk warned in July that the company could face a "rough few quarters" as federal support for electric cars was rolled back.
The initial signs suggest they may have been right. After hitting a record in September as buyers rushed to beat the tax credit deadline, EV sales collapsed nearly 49% in October, according to data from Cox Automotive.
Stephanie Valdez Streaty, Cox Automotive's director of industry insights, told Business Insider that the rollback of government support would "shift the timeline" for EV adoption.
She estimated that EVs would now make up around 24% of new car sales by 2030, far from the aspirational target of half set by the Biden administration four years ago.
"We're not going to see a huge growth in the next couple of years," Valdez Streaty said, adding that a lack of affordable EVs was still the main barrier for adoption.
A perfect storm
With the outlook for EV demand looking decidedly chilly, carmakers are tightening their belts.
GM announced plans to lay off 1,750 workers last month, citing slowing electric vehicle demand after taking a $1.6 billion charge over changes in its EV strategy. Rivian also announced layoffs last month, equivalent to 4.5% of its workforce.
"The whole combination of everything in the water right now is causing some automakers to either cancel or delay electric vehicle programs," Stephanie Brinley, an associate director at S&P Global, told Business Insider, adding that the impact would leave consumers with fewer choices over the next few years.
The combined effect of the tariffs and the EV slowdown has led some automakers to pull electric models from the US market entirely.
Meanwhile, Jeep has put some planned EVs for the US on hold, while Ram has canceled its all-electric Ram 1500 REV and is focusing on a plug-in hybrid pickup instead. Earlier this month, The Wall Street Journal reported that Ford was considering scrapping its flagship F-150 Lightning electric truck.
Give it some gas
Facing heat from all directions, some automakers are doubling down on a tried-and-tested strategy: build more hybrids and combustion engine vehicles.
These efforts have received a boost from the Trump administration, which opened the door for carmakers to sell combustion engine vehicles for longer by gutting emissions rules that levied massive fines on automakers who failed to sell enough EVs.
Speaking at a tech conference hosted by Barclays last week, Ford CFO Sherry House said she expected a "contraction" in the US electric vehicle market, adding the company would likely respond by investing in gas-powered vehicles like its Mustang and Raptor lines.
"We're going to be leaning into these products that are just passion products. I mean, these are vehicles that people love," she said.
Tesla switching gears?
One company that is confident it can ride out the EV winter is Tesla.
Musk may have warned of a bumpy road in the summer, but the billionaire has struck a more confident tone since then, telling investors this month he expects the company's AI and robotaxi initiatives to vastly boost demand for its vehicles.
Tesla also weathered the steep drop-off in EV sales in October better than its rivals, with deliveries falling 35.3% month-over-month compared to nearly 50% overall per Cox Automotive data.
The Texas-based company introduced cut-price versions of its most popular vehicles last month following the loss of the tax credit.
However, Tesla has not launched a new vehicle since the Cybertruck in 2023, and Musk has been clear that the company's future lies in its Optimus robot and Cybercab robotaxi, both of which he said are set to begin mass production next year.
Last year, the billionaire said it would be "pointless" for Tesla to build a more affordable non-robotaxi EV, suggesting the company's future may be less dependent on conventional vehicles.
"Tesla feels like a company that is maybe changing some of its direction in terms of where it expects its revenue to come from in five or 10 years," said Brinley.
Other automakers are racing to fill the affordable EV gap, with GM launching a new version of the Chevy Bolt starting at just under $30,000 last month and Ford teasing an electric truck set to roll out in 2027 at a similar price tag.
With electric vehicles still around $10,000 more expensive on average than their gas-powered counterparts, Valdez Streaty said that more affordable options are needed for EVs to shake off their winter blues and become mainstream in the US.
Without them, she warned that the US risks ceding the rest of the globe to China's EV makers. The likes of BYD have crushed foreign automakers in China, where more than half of new car sales are electric, and are now expanding rapidly in a host of global markets.
"The world's going electric, right? The Chinese players are continuing to innovate and come out with new products that are inexpensive and high-tech," Valdez Streaty said.
"With the delay in growing that market share in the US, I think there's a risk the US could fall further behind," she added.
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Deck the halls with one of these Black Friday Christmas tree deals.
Amazon; Balsam Hill/Business Insider
The holiday season is upon us, and it's not too late to get a tree to grace your home for the occasion. Black Friday has been an excellent chance to save big on our favorite firs, so I've rounded up all of the best Black Friday Christmas tree deals still available to help you get started.
Balsam Hill, King of Christmas, Puleo, and National Tree Company make high-quality trees to suit every taste. Several of the best artificial Christmas trees from these brands are on sale. The best deal is on our budget pick, the Puleo International Pre-Lit Aspen Fir. The 7.5-foot version is down to $168 — that's 31% off. While our best overall pick, the 6.5-foot Fraser Fir with twinkle lights, has been $1,299 for a while now, you can save an extra $40 with code BALSAMHILL40 at checkout.
Below, we've rounded up all the trees we love that are marked down just in time for the holidays. You'll also find a list of sitewide sales. For more deals, check out all of our early Black Friday coverage across categories.
The best Black Friday deals on Christmas trees
Whether you prefer a full tree that looks freshly cut, a pre-lit one for convenience, or a slim tree for tight spaces, it's the perfect time to get one that will last you many years to come. High-quality artificial trees are pricey, but we found a more affordable option we were proud to display: the Puleo International Pre-Lit Aspen Fir. The color variation of the needles lends to its realistic look, and it easily supports heavy ornaments. Right now, the 7.5-foot version is 31% off.
If you're working with a bigger budget, you can't go wrong with our best overall pick, the Balsam Hill Fraser Fir Artificial Christmas Tree, and you'll save $40 with code BALSAMHILL40. You can choose from several sizes, types of lights, or opt for an unlit tree.
FAQs
When do Black Friday artificial Christmas tree deals start and end?
Major retailers and brands kick off their sales early in November and keep them running through Cyber Monday. However, artificial trees can and do sell out. If you're eyeing a tree in a popular size or style, keep in mind that these trees can and do sell out.
Are PE or PVC artificial Christmas trees better?
Polyethylene (PE) tips are molded to achieve a true needle-like look and feel, while polyvinyl chloride (PVC) is more bristly and less realistic but helps add fullness. Many of our favorite trees blend the two types together, with a higher PE percentage for realism and PVC near the trunk for density.
When you buy through our links, Business Insider may earn an affiliate commission. Learn more
T-Mobile/Insider
Black Friday is finally here, which means it's the best time of the year to save on big-ticket purchases, including phones. The best Black Friday phone deals so far can even get you a new smartphone or bundle of devices for free.
Some of the best deals we're seeing right now include free device bundles at T-Mobile and Verizon, where you can get a phone, tablet, and smartwatch when you add a new line. But if you're not ready to upgrade your whole tech lineup, you can also score one-off device deals at several carriers with qualifying new lines or trade-ins. Note that these devices aren't paid off from the start; the savings come in the form of billing credits over a period of several months. Still, the device will be essentially "free" as long as you don't break your contract early. If you're not looking to switch your mobile carrier right now, you can also keep scrolling for deals on unlocked devices, including recently released models.
Ahead, we're breaking down the best Black Friday deals from our favorite mobile carriers and tech brands. If you're still shopping, head over to our full roundup of the best Black Friday sales and deals across all categories.
Best T-Mobile Black Friday deals
With T-Mobile's Black Friday sale, you can get a free smartphone via 24 monthly billing credits, which means you aren't locked into a contract as long as you are with Verizon and AT&T's deals. To score a free iPhone 17 or Galaxy S25, you don't need to trade in an old phone. However, you must bring four lines over to T-Mobile's Essentials Plan from another qualifying provider. Google users can also score a free Pixel 10 Pro when they add a new line on T-Mobile's Experience Beyond Plan, no trade-in required. The carrier also just launched a bundle deal, which gets you a free iPhone 17 Pro, Apple Watch SE3, and iPad when you trade in an eligible device on the Experience Beyond plan.
For Black Friday, Verizon is offering shoppers a smartphone, tablet, and watch bundle from Apple, Samsung, or Google when they sign up for a new line on myPlan. The bundle is free via 36 monthly payment credits, and you'll still need to pay an activation fee for each device. Once you add an eligible smartphone (either the iPhone 17, Samsung Galaxy S25, or Google Pixel 10) to your cart and click "Next Steps," Verizon's website will guide you through the steps to getting the rest of the free devices in the bundle.
AT&T's Black Friday deals offer free smartphones via 36 monthly billing credits when you trade in an eligible older phone. The trade-in must be completed within 30 days of the start of the new smartphone's installment plan. Additionally, you'll still be required to pay an activation fee for the new phone.
Mint Mobile's unlimited data plans offer fast, reliable data you can cancel anytime without the confusing terms and long contracts of other larger carriers. For Black Friday, the carrier is offering 50% off all unlimited plans, bringing the price down to just $15 a month. Unlike previous Mint Mobile deals, which required a commitment to an annual plan to receive the discount, the current deal applies to any unlimited plan, allowing you to get coverage for anywhere from three months to a year at the discounted rate.
If you're happy with your current mobile carrier but still want to save on a new phone, you can also score plenty of Black Friday deals on unlocked devices. Samsung is currently offering up to $1,000 off the new Galaxy Z Fold 7 when you trade in an eligible older device, or up to $400 off without a trade-in. Similarly, you can get up to $700 off the Galaxy S25 Ultra with an eligible trade-in or $350 off without one. Amazon is also a great place to browse deals on unlocked phones from Google, Samsung, Motorola, and more, no trade-in required.
Visible Wireless offers some of our favorite cheap cell phone plans, and they're even more affordable with the carrier's Black Friday deals. Right now, you can get 50% off the annual Visible Plus Pro plan with the promo code BLACKFRIDAY50 or 26 months of any monthly plan at a discounted rate with the promo code SWITCH26. The budget carrier is also offering deals on devices, no trade-in required, including a free Apple Watch SE 2 with any new iPhone purchase on an annual plan.
Shopping for more discounts today? Check out more of ourBlack Friday coverage. Follow us onInstagramandWhatsAppto stay up to date on the latest deals, buying guides, and reviews.
Keijhon Francis spent over a year unemployed before finding a new role.
Courtesy of Keijhon Francis
Keijhon Francis spent over a year unemployed during her job search.
She relied on therapy, support from friends, and strategic job searching to persevere.
Francis emphasizes self-worth, resilience, and the importance of community during unemployment.
This as-told-to essay is based on a conversation with Keijhon Francis, a 29-year-old communications specialist based in Brooklyn, NY. The following has been edited for length and clarity.
Losing my job last year completely upended my sense of self. I'd never been let go before, and I panicked.
I'd moved to New York for my job — a communications associate role — and didn't know how I'd continue to live my life without it.
I called a friend, and we agreed that after a few hours, I had to stop crying and accept what had happened.
Months later, I'd applied to over 100 jobs, and nothing was working. I withdrew my entire retirement savings just to make ends meet.
The journey taught me that if you're not open to people being there for you, they won't be. So open yourself up to it and let them help.
I'd never faced unemployment before, and I didn't know what to do with all the time I had
It was close to the holidays when I was let go, and hiring is usually slow during that time. I decided not to focus too much on my job search right away and to figure it out in the new year.
I started to go stir-crazy with all the time I suddenly had. I had a lot of thoughts going through my head about whether I was good enough or deserved certain levels of respect at work. It altered my self-perception and put me in a bad place mentally.
I was still applying to jobs, but also spent my time taking walks, enjoying New York during the holiday season, and talking to my friends as much as possible because that really helped me level out.
I was mass applying until I realized I needed to be more strategic about my job search
Once the new year arrived, I was home all day, sending in applications as if it were my full-time job.
I applied on LinkedIn and Indeed, and if I saw a job posting on Instagram, I'd send my résumé. I used AI to help tailor my applications, find roles I could apply for with my skill set, and optimize my LinkedIn profile.
By late spring, I realized I needed to be more strategic because I wasn't getting anywhere, and rejection after rejection was wearing on me. I started tailoring my applications heavily to each role and applied to around three suitable roles a day, versus 25 roles with the same generic résumé.
I saw a slight increase in responses after switching my strategy, but still nothing came through.
I had to pull my retirement savings out to get by, but then I ran out of that money
I went into my retirement account, which had about $10,000, and I withdrew the entire amount as a safety net for myself. I was also receiving about $500 a week in unemployment benefits until May.
In July, I was flat broke with nothing coming in and nothing to fall back on. That got rough. I realized that I needed any job as soon as possible and couldn't focus on my search on a full-time role anymore.
I got a job as a cashier at a local market in Brooklyn. A week later, I added a job as a host at a bar, which I still host at. Those two combined brought me back to being able to make it through the months financially. But I was feeling very negative internally and trying not to show it.
Therapy and my support system helped me regain my self-worth
Through attending therapy and dedicating time to working on freelance gigs and mock projects to boost my portfolio, I realized my old role hadn't been the right fit for me and didn't reflect my worth.
Having so many people pray for me, check in, encourage, and uplift me made me realize that I'm loved and worthy of love. It made me feel less alone during one of the most critical periods of my life.
Through some of those really hard moments, when I didn't know how I would make rent or afford food, I'd think of the positives that came with this newfound free time. I was able to see my best friend of 17 years give birth to her first baby. My relationship with my father has grown immensely, which has been incredible.
It was really beautiful to form stronger bonds with those people, as well as gain a deeper understanding of who I am and what I need.
I found my next job through my network of friends
A friend that I used to work with messaged me one day and asked if I was still looking for a job because she knew someone leaving their role, and she thought I would be a great fit.
I immediately applied, and then I didn't hear from them for a couple of weeks. I went through the interview process, which was pretty long. However, I got the call in October that I had landed the job.
I couldn't even let her finish her statement before I started sobbing. It just felt like that chapter of my life was finally closed. It was everything I had been hoping, praying, and fighting for over the last year.
This experience taught me how to advocate for myself and reframe work in my life
I've learned a great deal about myself and my priorities. When I lost my job, I was feeling so bad about myself because my identity was tied to my work performance in many ways.
I realized that I always wanted to bring my best self to a role, but I never want to lose myself in it again. That's something I'll take with me as I continue to move forward in life.
To anyone newly unemployed: Take it one day at a time. Use this time to figure out what truly makes you happy. Do what you need to do to ensure that your bills are paid and all the necessary things are taken care of, but let the people who love you be there for you.
Do you have a story to share about long-term unemployment? Contact this reporter, Agnes Applegate, ataapplegate@businessinsider.com.
It's been an interesting five years for Americans studying abroad. The pandemic slammed the brakes on many international programs, sending would-be global citizens back to their parents' homes. Now, the pendulum has swung back the other way — the number of American students studying abroad for academic credit is nearly back to pre-pandemic levels, and a growing number of students are undertaking their entire college careers outside the US as stateside higher education costs soar. Shorter trips are booming, too, as more students and families try to scratch that international experience itch.
The landscape is not an easy one: Costs are rising, scholarships are uncertain, and the political environment can be hostile. The chaos at home is following American students beyond borders, assuming they can cross them, given colliding economic and political pressures. Counselors, program administrators, and families I spoke with said that study abroad is more important than ever in today's globalized economy. It's also harder than ever to pull off.
The idea of getting an international education — whether for a summer, a semester, or an entire degree — has become increasingly appealing. Nearly 300,000 US students studied abroad for academic credit in the 2023-2024 academic year, a 6% increase from the year before, according to the Open Doors Report released in November by the Institute of International Education, a nonprofit that promotes foreign study. European destinations, namely Italy, Spain, the United Kingdom, and France, are especially popular. More American students are also choosing to spend their entire college careers outside the United States. The Universities and Colleges Admission Service in the UK reported a 14% increase in undergraduate applications from American students for the 2025 fall semester compared to the previous year. In Canada, the University of British Columbia Vancouver saw a 27% jump in graduate applications from the previous year, and the University of Toronto has seen an increase in US applicants, too.
"We are seeing off-the-charts demand for study abroad," says Melissa Torres, the president and CEO of the Forum on Education Abroad, a nonprofit that sets standards for the study abroad industry.
While more American students are looking beyond their home shores for higher education, making it out of the country is increasingly difficult. Much of the study abroad industry was decimated during the COVID-19 pandemic with programs shuttered and staff laid off. Many programs are now up and running again, especially in Europe, but getting back to full speed has been a struggle, and recent developments are adding new wrinkles.
Different schools and programs have different arrangements for financing study abroad. Some American colleges may waive their tuition for the semester, so students pay their study abroad program fee to the provider or destination institution. This setup can be cheaper, but it may also limit the scholarships students can receive from their "home" college. Alternatively, students may pay tuition to their US university, which then pays the program and/or the foreign school directly. Other US schools charge their tuition and have the student pay the program separately for housing and expenses. There is a raft of scholarships, grants, and loans available to help pick up the tab, but study abroad is often an expensive proposition. College and university budgets are under stress, and as a result, study abroad programs are being squeezed.
Ryan Dye, executive director and senior vice president for AIFS Abroad, tells me that much of the "uptick in financial anxiety" is on the institutional side. Many schools are receiving reduced state and federal funding, and the plunge in international students in the US due to the Trump administration's hardline immigration policies is hitting them where it hurts, because foreign students generally pay full tuition.
"They're being told to do all they can to retain tuition at the home institution — don't let that tuition leave the institution," Dye says. That means encouraging students to stick around the stateside campus, nudging them toward exchange programs where they pay full tuition, and capping the amount of money each student who crosses the border is allowed to receive. Schools are asking third-party study abroad administrators for discounts on the amount they charge per student, Dye says. "They're just saying, 'Look, we cannot pay out what we used to pay out. Our students can't pay out what they used to pay out. Can you help us?'"
Some of the most critical funding for financial aid was thrown into question in February, when the Trump administration paused funding for several international exchange programs, including the Fulbright-Hays Program, which supports research and training abroad, and the Gilman Scholarship, which helps fund undergraduate students studying abroad, as part of a review of federal programs and spending. It left students already thousands of miles from home in a lurch, wondering if the money would come through or their plans would have to be changed or called off. The federal government released the funding after several weeks, although some organizations complained that it was done in a sporadic, trickling manner, and many are still on edge about what the future holds.
"All that money was awarded in the end, so it's kind of hard to know what's going to really happen," says Amy McMillan, executive vice president of marketing and institutional relations at IES Abroad, a study abroad provider. IES awards about $7 million a year in financial aid of its own, and in the fall of 2025, it saw a 16% increase in aid applications compared to the year before.
In August, the Trump administration revoked $100 million of funding from at least 22 international exchange programs run by the Bureau of Educational and Cultural Affairs, which is intended to promote American values through cultural and professional exchanges. The administration reportedly deemed the programs in question lower funding priorities in the current environment. International exchange advocates have warned the cuts will likely lead to furloughs and closures and impact students' ability to go abroad.
In a statement to Business Insider, a State Department spokesperson said that under the Trump administration, the agency "continues to provide opportunities for American students to study abroad through its educational and cultural exchange programs."
Amine Mechaal, the executive director of global engagement at Columbia University's Teachers College, tells me that the environment earlier this year was "crazier" than it is now, but the financial picture remains uncertain for students who want to get away. Some can fall back on their parents, but America's shaky job market, uncertain economy, and the realities of uneven wealth in America mean that's far from guaranteed. "Because of the economic situation right now, there are a lot of concerns about students' ability to pay," he says.
It's a Catch-22 for American schools: Study abroad programs stretch their budgets, and they're useful recruiting tools for the American tuition they need now more than ever as tuition from international students dries up. It's a conundrum for programs and students alike — international students often study abroad during their American degree programs, and if there are fewer of them, organizations may be unable to fill the programs and cancel them.
Even after sorting out the money situation and making it to their far-flung destinations, American students may have to confront the economic and political realities of home. Some students might be relieved to get away, given the country's fraught climate and the chaos on some college campuses. But in today's globalized world, true escape isn't possible.
Jill Madenberg, a college admissions counselor, tells me that finances are still the No. 1 issue on families' minds when they discuss short-term or full-degree study abroad, but politics come into play now more than ever. "For some parents, the beauty of studying abroad and the ability to experience different cultures is very much top of mind," she says. And then there are others who express concerns about "how their child would be perceived as an American studying in a foreign place."
Genevieve Klein, a college junior studying abroad in Paris, says that on her first day of language classes in her program, a classmate from Italy asked her what it is like to live in the US right now. It took her a second to grasp what he was getting at, and even then, she wasn't sure how to answer. Overall, her Paris experience has been a positive one, but negative perceptions of her home country in France have made her feel like she has to change people's minds about Americans. "I think this has made me more aware in general of how people may make assumptions of others based on what is going on politically in the country they're from, now that I myself am on the receiving end of that," she says.
For Mackenzie Halford, who's finishing up a degree with a semester in Seville, it's more than uncomfortable café conversations that are weighing on their experience. They're transgender, and their passport's space for a gender identifier has an X, which the Trump administration is no longer allowing on new passports. When they first caught wind of the change, they called the consulate to see if they could obtain an emergency passport with an "F" on it. Nobody answered, but after doing some research, they think it should be fine to return to the US in December. "It's kind of left up to the discretion of the people who are working at the airport," they say.
Mechaal, from Teachers College, tells me politics are the "elephant in the room" in conversations with students. They don't address it explicitly, but there's an awareness that policies could change at any moment. "With all these shifts and changes, and almost at a certain time, it was like every day there were new updates," he says.
Study abroad used to be a carefree corner of American higher education, marked by Aperol spritzes, art museums, and weekend jaunts across Europe. But the questions facing these programs have become much more salient as the trips abroad have transformed from a luxury experience into one that's increasingly a necessity for the future workforce.
Recent research from the Forum on Education Abroad, conducted in conjunction with four business schools at large, public universities in the US, found that students who studied abroad earned, on average, $4,159 more in their first job after graduation than those who didn't, representing a 6.3% earnings differential.
"If you think about that and multiply that over a lifetime and over the retirement contributions and the increases in bonuses and salaries as a person progresses in their career, the potential financial impact is actually quite high," Torres, from the Forum, says.
A separate survey from the organization of over 8,000 study abroad alumni found that 90% of respondents said study abroad helped them build job skills, and over half said it helped them get their first jobs.
"There's a lot of talk these days about the disconnect and what employers need, and there's all this uncertainty about AI and what's the future workforce going to look like — and employers often say that people coming out of college maybe don't have the exact skills that they're looking for," Torres says. "What we're demonstrating is this is an experience that fills that gap."
International students coming to the US also contribute to the economy, with an estimated $42.9 billion added to US GDP during the 2024-2025 academic year.
Given the impact that study abroad has on individual students, jobs, and the economy, a potential slowdown, although not yet evidenced on the outbound end, is concerning. Moreover, if the opportunity becomes financially out of reach for a growing number of students, it may harm them and their future employers throughout their working lives. The study abroad cohort is already pretty privileged — the students are disproportionately white come from families who can foot the bill.
"There is a disconnect there," says Mirka Martel, the head of research, evaluation, and learning at IEE. "Study abroad should really become more accessible to more students."
Teala Avery, who graduated from Spelman College in 2024, relied on a mix of scholarships, grants, and her own money to do a semester abroad in Tokyo in 2023. It still wasn't enough, and she wound up taking out the first and only loan she needed in college to pull it off. Still, she felt like it was worth it as she ventured into the working world. "Studying abroad during college was just a no-brainer for me, and it was really like I had the dream, and then all of the logistics would come afterward," she says.
The argument is more than economic, too. Study abroad is a way for students to expand their horizons and develop more independence. It can be a transformative experience. It's also one of the rare times in many people's lives when they have the freedom to take off.
Study abroad may not be for everyone, but it's increasingly meaningful on a job application. And as costs rise and politics intrude, the gap between who can and can't swing it is widening — and that gap could shape the future workforce.
Emily Stewartis a senior correspondent at Business Insider, writing about business and the economy.
Alibaba's CEO, Eddie Wu, brushed off AI bubble fears and said that the Chinese tech giant plans to invest aggressively in AI.
XU KANGPING / Feature China/Future Publishing via Getty Images
Alibaba CEO Eddie Wu says he doesn't see "much of an issue" with an AI bubble.
Wu said AI demand is outpacing global chip supply, and the company plans to invest "aggressively."
The Chinese tech giant posted a 5% increase in revenue year-over-year for its September quarter.
Alibaba's CEO brushed off talk of an AI bubble and said he's doubling down on spending.
The CEO of the Chinese tech giant, Eddie Wu, said on Alibaba's second-quarter earnings call on Tuesday that the company "doesn't really see much of an issue in terms of a so-called AI bubble."
"We're not even able to keep pace with the growth in customer demand," Wu said, adding that the pace at which Alibaba can deploy new servers is insufficient.
"In the next three years to come, AI resources will continue to be under supply," he said.
Wu said that the surge in demand isn't coming from hype but from real-world AI adoption across the economy, such as across product development, manufacturing processes, and supporting companies.
He said that Alibaba's Qwen app, launched just last week, surpassed 10 million downloads in its first week.
On Tuesday, Alibaba Group posted 247.8 billion yuan, or $34.8 billion, in revenue for the quarter ending September 30, a 5% increase from last year.
Profits were hit by heavy spending on AI and commerce. Net income fell 53% from a year earlier to 20.6 billion yuan due to a "decrease in income from operations." Sales and marketing expenses surged, more than doubling from a year ago.
The cloud division, which includes Alibaba's Qwen platform, led the company's growth. The cloud business grew 34% to 39.8 billion yuan, driven by "public cloud revenue growth, including the increasing adoption of AI-related products."
Wu said on the call that the company is planning to invest "aggressively" in AI infrastructure to meet demand.
Alibaba announced in February that it would invest 380 billion yuan in AI infrastructure over the next three years.
"In big picture terms, I would say that the 380 billion figure we had mentioned previously might be on the small side," Wu said on Tuesday.
The company's stock is up more than 86% this year.
Tsai said at the HSBC Global Investment Summit in March that he's starting to "see the beginning of some kind of bubble," pointing to the rush to build data centers.
Big Tech firms, including Microsoft, Amazon, Google, and Meta, are collectively expected to spend $320 billion on capital expenditures this year as they race to expand their AI infrastructure.
The AI bubble debate has split tech leaders across the industry.
Some executives have rejected the idea that the AI boom is overheating. Last week, Nvidia CEO Jensen Huang dismissed fears of an AI bubble on his company's latest earnings call.
"There's been a lot of talk about an AI bubble," Huang said. "From our vantage point, we see something very different."
Others have been more cautious. OpenAI CEO Sam Altman said in August that investor enthusiasm has run ahead of reality.
"Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes. Is AI the most important thing to happen in a very long time? My opinion is also yes," he said.
In its journey to transform from an AI research lab to one of the most valuable companies in the world, OpenAI — and its CEO, Sam Altman — faces significant legal challenges. Everything from OpenAI's transition to a for-profit business model to how it trains its large language models has been fodder for lawsuits.
These cases could cost Altman many millions of dollars, impact how all of AI trains its large language models, and potentially even alter how companies and partnerships are organized.
Some, like the two court battles waged against Altman by partner-turned-rival Elon Musk, have an added appeal: as sheer, popcorn-worthy Clash-of-the-Tech-Titans entertainment.
Here's the latest on the most significant cases. OpenAI did not respond to Business Insider's request for comment.
Not one, but two Elon Musk lawsuits are bedeviling Sam Altman.
Gonzalo Fuentes/REUTERS
The dispute over OpenAI's for-profit shift
The issue:Elon Musk sued Altman last year, accusing his onetime friend and OpenAI cofounder of betraying their original, 2015 nonprofit mission: to develop AI for the public's benefit, not for private gain.
Musk says he invested $38 million in that early mission only to see OpenAI enter into a multibillion-dollar exclusive licensing deal with Microsoft, creating what his lawsuit calls "a $157 billion, for-profit, market-paralyzing gorgon." Musk added Microsoft as a defendant to the lawsuit this year.
What's at stake: Musk is demanding a return of "wrongful gains" from the OpenAI and Microsoft partnership — plus damages — in an amount to be set by a jury and potentially in the many millions of dollars.
What's next: The case is currently mired in pretrial evidentiary battles and litigation surrounding motions to dismiss filed by both Altman and Microsoft. A Phase I trial, limited to Musk's claim that OpenAI was unlawfully converted into a for-profit, is set for a federal jury trial in March.
xAI disabled Grok on X after it made inflammatory posts.
illustration by Jonathan Raa/NurPhoto via Getty Images
OpenAI has "engaged in a deeply troubling pattern" of recruiting xAI employees to gain access to insider intel relating to Musk's flagship chatbot, Grok, the lawsuit says. OpenAI denies any such pattern.
What's at stake: The lawsuit seeks a jury verdict that would force OpenAI to halt its "anti-competitive practices" and return "any ill-gotten confidential information." A jury could also order Altman to pay cash penalties.
What's next: Musk said in his lawsuit that he may seek a preliminary ruling halting what he calls xAI's "unlawful" poaching of his employees and intellectual property.
The case has been assigned to US District Court Judge Rita F. Lin in San Francisco. She has set an initial case management hearing for January 8, 2026.
The New York Times is fighting OpenAI and Microsoft over the use of its copyrighted news articles in training its automated chatbots.
Kylie Cooper/Reuters
A groundbreaking copyright infringement lawsuit
The issue: In December 2023, The New York Times became the largest US news outlet to sue OpenAI and Microsoft over the use of millions of copyrighted news articles in training its automated chatbots. The lawsuit argues that this has provided ChatGPT users with a backdoor to verbatim Times content.
Similar lawsuits were also filed by The Center for Investigative Reporting and a coalition of eight papers owned by Alden Global Capital — including the New York Daily News, Chicago Tribune, and Orlando Sentinel.
OpenAI counters that it only scraped Times articles to train its chatbots, and that this is a fair use under copyright law. OpenAI further argues that it's rare for ChatGPT to serve up verbatim Times content — an error they are working to fix.
What's at stake: These news organizations seek unspecified cash damages and a jury verdict that permanently bars OpenAI from scraping their content.
If successful, the news organizations' lawsuit could result in a multimillion-dollar verdict and clearer guardrails for AI's future use of published content.
What's next: In April, these separate news organization cases were combined. Their next joint court date is in January in Manhattan, with evidentiary hearings set for February.
George RR Martin still hasn't finished "A Song of Ice and Fire." A judge ruled that ChatGPT's ideas for a book in the series could violate his copyright.
Those plaintiffs include the comedian Sarah Silverman, the Authors Guild, and novelists George R.R. Martin, Jodi Picoult, and John Grisham.
What's at stake: As with the news publishers' suit, a verdict that could upend the future of AI development. These cases could also force AI companies to disclose closely held training information, although the extent to which that information would be made public is unclear.
What's next: In October, US District Judge Sidney H. Stein ruled against OpenAI's motion to dismiss the combined lawsuits, finding that ChatGPT's responses to user questions were sufficiently similar to the original works.
Stein also said the consolidated cases had shown "a prima facie claim of copyright infringement based on ChatGPT's outputs." The judge's ruling, however, did not address the question of fair use, which lawyers on both sides say will be the subject of considerable future debate.
The parties are scheduled to appear in court in January and further hash out discovery-related issues in February.
Some VCs think OpenAI's ChatGPT could open new doors for consumer AI.
Matthias Balk/picture alliance via Getty Images
Wrongful deaths, mental breakdowns blamed on ChatGPT
The issue:The parents of Adam Raine sued OpenAI, Altman, 10 employees, and 10 investors in state court in California in August, blaming ChatGPT for their 16-year-old son's death by suicide.
The suit alleges that OpenAI's chatbot encouraged Adam to kill himself by detailing methods of suicide and discouraging him from seeking support from family members.
As of November, OpenAI has said it is rolling out age-verification features and working with mental health professionals to improve ChatGPT's responses when a user shows mental distress.
The stakes: In addition to financial restitution, Raine's parents are asking for significant changes to ChatGPT, including quarterly compliance audits by an independent monitor.
What's next: The Raine family's case is still in its early stages. In November, four similar wrongful death suits were filed against OpenAI in California state court.
As with the Raine case, the new suits concern OpenAI's GPT-4o, a now-outdated model that Altman has previously said acted "too sycophant-y" in its responses.
They were filed by the Social Media Victims Law Center and the Tech Justice Law Project, which has filed a similar lawsuit against Character.AI, plus three additional lawsuits claiming ChatGPT contributed to plaintiffs' mental breakdowns.
Sora 2 is the new social video platform from OpenAI
Samuel Boivin/NurPhoto via Getty Images
A video trademark infringement case
The issue: Cameo, the company known for personalized celebrity videos, filed suit in federal court in California in October, accusing OpenAI of trademark infringement for naming one of the core features of its Sora app "cameo."
"We disagree that anyone can claim exclusive ownership over the word 'cameo,'" an OpenAI spokesperson said in a previous statement to Business Insider.
The stakes: OpenAI could have to change the name of the core feature of Sora, which is used as the basis for the app's AI-generated content. OpenAI has also expanded the feature beyond humans, covering pets and objects.
What's next: US District Judge Eumi K. Lee granted Cameo a temporary block on OpenAI using the term "cameo" through December 22. Days before the deadline, both sides are due in court to argue over whether Lee's order should be made permanent.
NAD has been testing various components of the Kreuger-100XR by launching with a rudimentary catapult. The final product is also designed to be as simple to launch.
Nordic Air Defence
A Swedish startup is making a low-cost interceptor to counter drone swarms.
The single-propeller Kreuger-100XR, designed to loiter in the sky, costs just a few thousand dollars.
Nordic Air Defense was recently selected by European authorities to compete in a contest.
Sleek, black, and sporting foldable wings, the footlong Kreuger-100XR looks almost like something you'd find in a toy store aisle.
The Kreuger-100XR, with XR standing for Extended Range, is Nordic Air Defence's debut product. It's a mostly carbon fiber interceptor that weighs about a pound and is meant to be deployed in large numbers as an inexpensive, no-frills way to hunt down and destroy uncrewed aerial systems.
European authorities are taking notice. NAD is barely two years old, but was one of four finalists selected this year to compete in a counter-drone contest held in Portugal by Frontex, the European Border and Coast Guard Agency.
Artist's renderings of the Kreuger-100XR shows early design concepts for the interceptor.
Nordic Air Defence.
Startups like NAD are one of the many ways Europe is rebalancing to face Russia's ability to mass-produce long-range attack drones. They'll compete with leading contractors that have long dominated the market, such as the French-headquartered MBDA, which is making its own eight-motor interceptors to be rolled out at scale.
The startups have an edge up their sleeve. Defense primes, though more established and better connected, typically charge a premium and are often seen as large, cumbersome organizations. NAD has about two dozen employees, while MBDA and US-headquartered Lockheed Martin, for example, have 18,000 and 121,000, respectively.
Fastest in class, NAD says
NAD says the Kreuger-100XR's propeller can push the craft to speeds above 220 mph, and that its optimal range is about two miles at an altitude of around 3,300 feet.
That distance is relatively short for typical air defense, but NAD is banking on low cost as a selling point.
The firm declined to disclose the exact price of the interceptor, saying it costs a few thousand dollars each. Traditional short-range intercept missiles, by comparison, can typically cost anywhere from $400,000 to millions of dollars each; the shoulder-fired Stinger, for example, costs $480,000.
Three prototypes of the Kruger-100XR are on display at NAD's headquarters. They are being used in final test flights. Behind them is a conceptual model of a vehicle-mounted launcher.
Nordic Air Defence
Jens Holzapfel, NAD's director of business development, told Business Insider at the company's Stockholm office that the interceptor is designed with simplicity in mind.
A police officer should be able to easily carry several Kreuger-100XRs in a backpack and then launch them from a handheld device.
"In testing, we can either throw it like a dart or use a catapult," Holzapfel said, balancing a prototype on his fingers.
He added that only someone with an exceptionally strong arm can hurl the interceptor fast enough for an effective launch.
Making cheap counters to drone swarms
Holzapfel said the Kreuger-100XR's main cost goes toward two key components. The first is a camera that enables the interceptor to autonomously acquire its target, while the second is an optional 250-gram explosive warhead for destroying larger aircraft such as the Shahed-136 attack drone.
A cheaper version with a laser seeker, in lieu of a camera, is also planned. It will require a laser designator, whether operated by a human or an autonomous device, to track its target.
"With the XR, its wings also allow us to loiter, so we don't need a straight-shot scenario," Holzapfel said. With a radio connection, the interceptor is designed to remain airborne for at least 20 minutes before acquiring a target.
A prototype of the Kreuger-100XR takes flight after being launched by a catapult.
Nordic Air Defence
In that sense, the Kreuger-100XR can act like an autonomous drone — and that's NAD's long-term vision. A cheap, fire-and-forget interceptor could become a fundamental defense against enemy drone swarms, an anticipated threat for which militaries around the world are preparing.
"The economy of war is at such a point that it's about scalability," Holzapfel said. "If we are being attacked by a swarm of drones, we need a swarm of counter-drones."
Ukrainian drone manufacturers have also been developing their own interceptors: quadcopters capable of flying fast enough to catch the Shahed.
"But they tend to be slower or more expensive," Holzapfel said.
While many interceptor drones use four motors, which can be more costly, the Kreuger-100XR uses a single prop engine, helping NAD drive down costs and increase the device's speed, he said.
The Kreuger-100 and its XR variant use single propellers. This is a prototype of the drone interceptor.
Matthew Loh/Business Insider
Yet it may be some time until a Kreuger-100XR counterswarm becomes a reality. Holzapfel said NAD is still working on friend-or-foe programming to prevent multiple interceptors from targeting each other.
Shaheds and recon drones
The firm is positioning the Kreuger-100XR to fight the Shahed, which Russia has been using in droves to bombard Ukrainian cities and overwhelm air defenses.
Kyiv also needs more defensive options against unjammable, small drones that use cable connections, as well as medium-range reconnaissance drones like the Orlan.
NAD plans to conduct trials in Ukraine soon, but has yet to test its product in battle. An operational altitude of 1,000 meters will also be a challenge for the Kreuger-100XR, because many Russian Shaheds and Gerbera decoys are known to cruise at 2,000 meters or above before diving down at their targets.
A Ukrainian interceptor drone hunts down a Russian Shahed.
Ukrainian President Volodymyr Zelenskyy/Screengrab via X
But Holzapfel said the Kreuger-100XR's "fastest-in-class" speed of 220 mph can still give it an edge against the Shahed-136, which typically flies at speeds around 115 mph.
"We are aiming toward the Shahed scenario for sure," he said. "And that's why we're also considering the air trail scenario, where we'll be chasing Shaheds from another airborne platform and attack them even from above."
Or the Kreuger-100XR could intercept the drones during their terminal attack, though it would be harder to accurately strike the Russian drone in that scenario because of their higher speeds.
To build an interceptor
Holzapfel said NAD is completing its prototyping phase and moving toward mass production. Although most of the Kreuger-100XR's manufacturing should be automated — particularly for the fuselage and wings — it will still require humans for some assembly tasks, such as mounting the explosive warhead.
NAD aims to establish initial manufacturing operations in Sweden, but anticipates that it may be asked to build the Kreuger-100XR on-site for foreign clients.
"If we're in Britain, they probably want to have Brits assembling these," Holzapfel said.
The startup is planning for its supply chain to have as little dependence on China as possible, sourcing off-the-shelf components from manufacturers in Europe, North America, Japan, or South Korea.
For now, NAD makes its interceptors on the ninth floor of an office building in Stockholm, where its team of 23 sits among a mix of 3D printers, prototypes, and workshop tables.
Nestled in the corner of a room is one of the startup's test-launch catapults: a few metal poles and some string.
NAD's office is filled with a mix of workshop tables, machinery, and office desks.
Matthew Loh/Business Insider
After its founding in March 2024, NAD initially worked on another interceptor. The Kreuger-100XR's predecessor, the Kreuger-100, is a propeller-driven, wingless device designed to eliminate drones solely by hitting them in flight.
However, it's ideally suited for smaller, commercial drones, such as the hobby drones that Ukrainian and Russian troops face regularly on the front lines today.
The Kruger-100 is meant to fit in one hand. This is a prototype of the original interceptor, but is highly similar in appearance to the actual product.
Matthew Loh/Business Insider
Holzapfel said prospective clients were more interested in capabilities for fighting larger targets, such as Shaheds, and so the firm pivoted toward the XR variant during the summer.
So far, NAD has raised about $4.4 million and is looking to begin another seed round early next year, he added. Afterward, the firm hopes to recruit software engineers to train artificial intelligence that can manage a defensive swarm.
Despite pressure in the industry for startups to send their products to Ukraine as soon as possible, Holzapfel said NAD is waiting until it's sure that the Kreuger-100XR can deliver.
"Everyone is saying: 'You've got to be in Ukraine, you've got to be in Ukraine.' But we don't want to just be tourists and waste anybody's time," he said. "We weren't going to be there until we were really confident in our product."
