Alaska cancels snow crab fishing for a year after the population mysteriously collapsed

A fisherman sorts and tags freshly caught snow crabs in Kasumi, Hyogo Prefecture, Japan, on November 6, 2020.

Buddhika Weerasinghe/Getty Images

• Alaska canceled the Bering Sea snow crab fishing season for the first time ever on Monday.
• Snow crab populations mysteriously crashed after a baby boom, and scientists suspect warming waters.
• The king crab season is also canceled for the second year in a row, threatening Alaska's crabbing industry.

Alaska canceled the snow crab fishing season for the first time on Monday, as crab populations mysteriously plummet.

An estimated 1 billion snow crabs suddenly disappeared from the Bering Sea, according to CBS News. The collapse deals a heavy blow to Alaska's biggest crab industry, and could drive many fishers out of the business.

A fisherman holds up a king crab on a crabbing boat in the Bering Sea in 1990.

Jean-Erick Pasquier/Gamma-Rapho via Getty Images

"It's going to be life-changing, if not career-ending, for people," Dean Gribble Sr., a crab boat captain who has fished snow crab since the 1970s, told NBC News. "A lot of these guys with families and kids, there's no option other than getting out. That's where the hammer is going to fall — on the crew."

The snow crab stock looked promising in recent years, sparking hope amid the steep decade-long decline of Alaskan king crab. The Alaska Department of Fish and Game also canceled the season for Bristol Bay red king crab on Monday — for the second year in a row.

Boats sit in a harbor ahead of the harvests in Whittier, Alaska, on April 26, 2020.

Yereth Rosen/Reuters

Scientists need to conduct further research to determine what exactly caused this year's snow crab population crash. But the devastation comes three years after record heat hit the Bering Sea in 2019 — just as the crab population appeared to be booming.

Polar regions, including Alaska, are warming faster than the rest of the planet as human-driven greenhouse gas emissions trap more heat and raise global temperatures. Scientists suspect those rising water temperatures are driving the crash of some of the world's most popular crabs.

"We're along for the ride. It's hard to predict or pretend we could have influences on a stock that is subject to Mother Nature and climate change," Miranda Westphal, an area management biologist with the Alaska Department of Fish and Game, told NBC. "They need time and space and favorable conditions to rebuild."

Snow crabs had a baby boom, then disappeared

A fisherman holds a snow crab in Kjoellefjord, Norway, on November 1, 2017.

NTB Scanpix/Terje Bendiksby/Reuters

The fishing industry was hoping for a snow crab surge this year.

In 2018, the ADFG recorded the largest juvenile snow crab spike in the fishery's history, according to Westphal, sparking hope that the fishing stock would rise. In 2019, the juvenile population was still high and promising. That year, the Bering Sea saw a historic spike in water temperatures.

The ADFG didn't conduct a survey in 2020 due to COVID-19. When the agency returned to count crabs in 2021, it discovered "the biggest crash we've ever seen in snow crab," Westphal said.

The stocks were down 90%, according to The Washington Post.

"That was really unexpected. I don't think anyone saw this coming," Westphal told NBC. She thinks the warm waters contributed to the deaths of many young crabs.

This year, the stock fell below the level the agency requires to open a fishery.

"Management of Bering Sea snow crab must now focus on conservation and rebuilding given the condition of the
stock. Efforts to advance our science and understanding of crab population dynamics are underway," the ADFG wrote in a statement on Monday.

In the meantime, fishing communities are taking a hit.

"Many of them are small family businesses, second- and third-generation fishermen and they are losing their jobs," Jamie Goen, executive director of the trade association Alaska Bering Sea Crabbers, told local news station King 5, adding: "It's simply devastating."

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Airbus is auctioning parts of a retired Emirates A380 superjumbo. There's more than 500 items, including a cockpit staircase, seats, and galley carts.

Airbus' MSN13 that flew for Emirates, registered A6-EDB.

Adrian Pingstone

• French planemaker Airbus is auctioning 500 pieces of a decommissioned A380 superjumbo aircraft.
• The jet is the 13th A380 Airbus made and flew for Emirates for 13 years from 2008 to 2021.
• Parts for sale include seat belts, galley carts, and a unique staircase that led up into the cockpit.

Soon, aviation enthusiasts will have the opportunity to get their hands on a piece of history.

An Emirates Airbus A380.

Arnold Aaron/Shutterstock.com

In February, French planemaker Airbus announced an auction of one of its first-ever A380s.

Airbus' 13th A380 — MSN13, registered A6-EDB.

James/Flickr

Source: Airbus

The three-day auction, handled by Marc Labarbe, will see more than 500 items come up for sale from the decommissioned superjumbo.

Airbus A380 auction item — pilot side stick.

Marion Brochart/Airbus

Source: Airbus

The event is taking place from October 13 to 15 in Toulouse, France, where Airbus is headquartered.

Airbus headquarters in Toulouse, France.

Georges Gobet/AFP via Getty Images

Source: Airbus

The A380, which has the serial number MSN13, first entered service in October 2008 for Emirates, which is the world's largest A380 operator.

Airbus' MSN13 that flew for Emirates, registered A6-EDB.

Adrian Pingstone

Source: Airbus

It flew thousands of hours until it was retired during the coronavirus pandemic.

Airbus' MSN13 flying for Emirates, registered A6-EDB.

Robert Underwood/Flickr

While the mammoth jet is an icon and a visual beauty, COVID-19 was the nail in the coffin for the fleeting A380.

An Airbus A380.

A. Doumenjou/Airbus

Carriers like Air France, Thai Airways, and Etihad Airways, all retired the quad-engine jet over the past two years simply because it was unsustainable.

Air France Airbus A380

roibu/Shutterstock

Lufthansa is bringing back its beloved A380 jet next year, reversing a pandemic-era decision. Here are the airlines that have resumed flying the plane since 2020.

When Airbus created the A380, it wanted to compete with Boeing's massive, high-capacity 747, which revolutionized long-haul travel.

Boeing 747.

Boeing

More airlines are choosing single-aisle jets for flights from North America to Europe — see the full evolution of jet-powered transatlantic flying

Taking its first flight in 1970 with Pan Am, the iconic Queen of the Skies made air travel affordable for the first time for more people than just the rich and famous.

First Pan Am 747 in London after its maiden flight.

-/AFP via Getty Images

Source: Insider

After decades of watching Boeing's success, Airbus jumped on the same train, flying its first A380 in 2005.

First A380 flight.

Pascal Le Segretain/Getty Images

Source: Insider

While the first few years were promising, airlines started to lose interest in the superjumbo in favor of more fuel-efficient planes.

Airbus' A380 had four engines instead of two, which is today favored by airlines.

Belish/Shutterstock

Source: Insider

The A380 is a solid workhorse for international carriers that have a strong hub-and-spoke network, like Emirates, because it needs the large plane to fly passengers through a central base.

Emirates has 118 A380s, having delivered the last-ever built in 2021.

Airbus

Emirates wants Airbus to build a new version of its A380 jet. See the full history of the superjumbo jet from marvel to reject

But, many global carriers have moved away from that strategy to operate more time-saving point-to-point routes using lower-capacity, twin-engine jets, like the Boeing 777…

Ryken Martin/Shutterstock

Source: Insider, Cornell University

…and the Airbus A330.

Airbus A330-900neo.

Airbus

Source: Insider

And, manufacturers have focused on increasing the capacity of next-generation planes, like Boeing's 777X and Airbus' A350-1000, to meet the needs of high-demand markets without sacrificing operating costs.

Boeing 777X.

AP Photo/Ted S. Warren

Source: Insider

Meanwhile, the Boeing 787, which has acted as a replacement for the Boeing 767, targets routes that were too niche for a 777 or A330, but can still be profitable using a lower-capacity jet.

Boeing 787 Dreamliner.

AP

Source: Insider

Qantas CEO Alan Joyce said in 2017 that it was "a bit cheaper" to operate two twin-engine Boeing 787-9s than it was to operate one A380.

Qantas Boeing 787-9.

Toshi K/Shutterstock

Source: Insider

Despite its fall from grace, the A380 is still beloved by aviation enthusiasts around the world and Airbus is banking on that love to keep the superjumbo's legacy alive.

Lufthansa's Airbus A380.

Lufthansa.

Airbus first announced the auction in February as a "tribute" to the iconic aircraft. Proceeds from the sale will be donated to Airbus's charity foundation and to aviation heritage charity, AIRtage.

Airbus A380 auction item — rear engine part.

Marion Brochart/Airbus

Source: Airbus

The majority of the nearly 500 items up for grabs come from the superjumbo's cabin, as well as various pieces of hardware and clothing that would have been used on the plane.

Airbus A380 auction item — carbon fiber longboard.

Marion Brochart/Airbus

Source: Airbus

Items include crew jumpseats...

Airbus A380 auction item — crew jumpseat.

Marion Brochart/Airbus

Source: Drouot

…seat belts…

Airbus A380 auction item — seatbelt.

Marion Brochart/Airbus

Source: Drouot

…a cabin door, through which many of the plane's 489 passengers would have entered the aircraft...

Airbus A380 auction item — passenger boarding door.

Marion Brochart/Airbus

Source: Drouot

…and a set of lights from Emirates' business class cabin.

Airbus A380 auction item — business class seat lights.

Marion Brochart/Airbus

Source: Drouot

The auction also includes items from the aircraft's cockpit including a set of stairs that led up to the flight deck…

Airbus A380 auction item — cockpit stairs.

Marion Brochart/Airbus

Source: Drouot

…a microphone, used by pilots for announcements…

Airbus A380 auction item — cockpit microphone.

Marion Brochart/Airbus

Source: Drouot

…as well as an oxygen mask, used in case the cabin lost pressure.

Airbus A380 auction item — cockpit oxygen mask.

Marion Brochart/Airbus

Source: Drouot

Also listed on the auction are several sections from the airframe, including cabin windows, which are popular among aviation enthusiasts who have put these to all sorts of uses, like wall art.

English design company Aerotiques turns 747 window panels into wall art.

Courtesy of Aerotiques

An English design company is turning retired Boeing 747 planes into things like cocktail tables, clocks, and wall art — take a look at Aerotiques

Airbus has also commissioned a series of artists to upscale some of the equipment, including a galley cart, painted by street artist Kelly...

Airbus A380 auction item — painted galley cart.

Marion Brochart/Airbus

Source: Airbus

...and a set of engine fan blades painted by street artists Sabha...

Airbus A380 auction item — fan blade painted by Sabha.

Marion Brochart/Airbus

Source: Airbus

...and Miadana.

Airbus A380 auction item — fan blade painted by Miadana.

Marion Brochart/Airbus

Airbus is not the only company repurposing parts of decommissioned aircraft. English design company Aerotiques creates furniture and accessories from retired Boeing 747s…

Aerotiques Boeing Stearman table.

Courtesy of Aerotiques

Source: Insider

…while an old Airbus A300 was sunk for diving tourism in 2016.

Divers at the A300 dive site.

Anadolu Agency/Getty Images

Countries around the world have sunk aircraft like the Boeing 747 to boost diving tourism — here are 6 intentionally submerged planes

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Stocks are finally oversold for the first time since 2016, but that doesn't mean you should buy the dip just yet, says a Wall Street CIO

Traders work on the New York Stock Exchange floor in New York City.

AP Photo/Ted Shaffrey

• By one measure, the S&P 500 has dropped into oversold territory for the first time in six years.
• But investors should be cautious about viewing current levels as an entry point, according to The Leuthold Group.
• "Not all buy signals from VLT are slam dunks," said Leuthold CIO Doug Ramsey. 

This year's relentless sell-off in US equities has finally yanked the market into oversold territory for the first time since 2016, according to The Leuthold Group.

The firm cited its proprietary Very Long Term Momentum algorithm, or VLT. The signal comes with the S&P 500 mired in a bear market — one driven by aggressive Federal Reserve rate hikes intended to fight decades-high inflation.

VLT's oversold reading overall means that a "low-risk buy signal is now mathematically possible," Doug Ramsey, chief investment officer of The Leuthold Group, wrote in a research note published Friday. An oversold reading for VLT is sometimes followed within a month or two by an "excellent" entry point for investors to purchase securities. 

But Ramsey stresses that investors should remain cautious, as some previous oversold signals have been followed by continued painful declines.

"VLT became oversold in May 2008, yet the S&P 500 would fall another 51% into its March 2009 low. Not all buy signals from VLT are slam dunks," the five-star fund manager said, adding that the element of time in the market's process of finding a bottom is often overlooked. 

The volatile nature of this year's market was on full display this week. The S&P 500 on Thursday, following a hotter-than-expected inflation report, experienced an intraday swing of 5% to finish higher. But investors on Friday hoping to build on that rally were met with a sudden turndown that threatened to erase a bulk of the prior day's gains. 

The S&P 500 over the summer underwent a bear-market rally that sharply narrowed its year-to-date loss. But stocks eventually surrendered to further pressure, leading the index back to double-digit percentage declines. 

"Patience is advised. We could be writing about the 'impending VLT BUY' signal for many months to come. But this long-term oversold condition should help investors pull the trigger when the time comes," said Ramsey, who noted that Leuthold has followed VLT during its 32 years in the investment business. 

Stock drops in late 2018 and in early 2020 — at the onset of the COVID-19 pandemic — prompted the Federal Reserve to pivot from its monetary policy stances. Investors this year have been looking for the Fed to suggest it's ready to pause or fully stop its aggressive rate hikes. 

A Fed pivot is "a feat not yet accomplished by this year's much longer-lasting decline. Perhaps that is soon to come," said Ramsey. 

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Newt Gingrich is a self-avowed fiscal conservative and deficit hawk. But his 2012 presidential campaign committee remains millions in debt.

Newt Gingrich.

AP Photo/Efrem Lukatsky

• Gingrich's latest 2012 presidential campaign filing shows a debt of $4.63 million.
• No presidential campaign from any election cycle owes creditors more money, per federal records.
• Gingrich has been calling for a balanced federal budget, writing "open-ended spending encourages waste."

Former House Speaker Newt Gingrich is a self-styled fiscal conservative who calls for a balanced federal budget. He's also actively helping Republicans win back the US House in 2022. He's fundraising for former President Donald Trump's political network. 

But Gingrich's 2012 presidential campaign committee, almost a decade past its expiration date, is still swimming in a sea of red.

The "Newt 2012" campaign committee remains technically active and more than $4.63 million in debt, according to financial filing submitted October 14 to the Federal Election Commission. No presidential campaign from any election cycle owes creditors more money.

The campaign had $242.56 in the bank as of September 30, the filing indicates.

A financial filing from Newt 2012, former House Speaker Newt Gingrich's 2012 presidential committee, which remains deep in debt to dozens of creditors.

Federal Election Commission

Among those creditors are a host of political consultants, as well as Comcast, Twitter, FedEx and an organization run by the late Herman Cain, who also ran in the 2012 Republican presidential primary and died from COVID-19 in 2020. 

Newt 2012's outstanding debt to Herman Cain Solutions, which has dissolved, is $16,525 for strategic consulting and travel.

Newt 2012 even owes Gingrich himself $649,117 for travel expenses.

Although Gingrich has made little effort to raise money to pay down his 2012 presidential campaign's debts, he's a frequent fundraising pitchman for other Republican committees. They include the Republican National Committee, National Republican Congressional Committee, congressional candidate Sarah Palin in Alaska, and Trump's post-presidential political fundraising network.

"As a Trump Gold Cardholder, you will play a crucial role in President Trump's efforts to save our Nation. You will be someone President Trump will turn to when he needs help most. I know he trusts you," Gingrich wrote July 11 on behalf of Save America JFC, a joint fundraising committee led by Trump. "Please contribute $45 or more by 11:59 PM TONIGHT to activate your membership and we'll send you your PERSONALIZED Trump Gold Card."

 

Gingrich could not be reached for comment on his campaign committee's debt, which has remained effectively the same for almost a decade.

In 2012, a Gingrich spokesperson told Politico: "Our preference is obviously not to have gone into debt. If we could eliminate the debt overnight, we would. But realistically, this will take years."

Gingrich, the leader of the 1994 "Republican Revolution" who then delivered a House majority for the GOP for the first time in 40 years, has been advising House Minority Leader Kevin McCarthy of California as Republicans craft a 2022 midterm re-election strategy.

Earlier this year, Gingrich detailed in a blog post what he considered to be the country's "real threats." Among them: "The current system of open-ended spending encourages waste."

Gingrich called for balancing the federal budget, saying it's a "requirement for our long-term health as a country."

"It will lower inflation, lower interest rates, lower the burden on our children and grandchildren, and rebuild our capacity to renew the world's reserve currency with leverage over China, Russia, and others," he wrote.

This article was originally published on January 29, 2022, and updated to include new campaign finance data and fundraising developments.

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The side effects to expect after getting an Omicron booster — and what happens if you get a flu shot at the same time

A vaccinator prepares to administer the flu vaccine.

Dinendra Haria/SOPA Images/LightRocket via Getty Images

• Side effects of the latest COVID-19 booster are similar to those associated with previous doses.
• Mild swelling or redness at the injection site, fatigue, and headaches are normal.
• Health officials say it's safe to get your flu shot and COVID booster shot at the same visit.

The Omicron booster shot recommended by the Center for Disease Control and Prevention may cause some mild side effects, but it's nothing we haven't seen before.

People who got the shots in clinical trials reported local reactions — such as pain, swelling, or redness at the injection site — similar to those experienced after their second or third dose of the vaccine, according to a CDC report on the new boosters. 

About half of the trial participants also experienced some fatigue after getting boosted, although they received a slightly different version compared to the shots that are available to the public now.

The four most common side effects for the trial version of the Omicron-specific booster have included:

• arm pain at the injection site
• fatigue
• headaches
• myalgia (generalized muscle aches and pains) after the shot is administered

The updated boosters from Pfizer and Moderna were designed to respond to the versions of the Omicron variant that are currently circulating, according to the CDC. While past iterations of the vaccines targeted the original virus that causes COVID-19, the new shots deliver a one-two punch to the "ancestral" strain as well as the latest variant.

You might hear the shot called the "bivalent booster," as it fights not one but two versions of the virus (the original strain and omicron BA.4/5). That's not to be confused with vaccines that protect against the influenza virus, which are delivered in a separate shot each year.

You can get a COVID-19 booster and a flu shot at the same time

The CDC recommends that everyone over the age of 12 top off their COVID protection with a bivalent booster shot this season, especially if it has been more than two months since their previous dose.

This week, the agency announced that kids between the ages of 5 and 11 are also eligible to get the new booster two months after their last dose.

With the flu season approaching as well, some people may opt to get their boosters and flu vaccines in one visit. According to the CDC, everyone should ideally be vaccinated against the flu by the end of October, but later is better than never.

Health officials have said it's not only safe, but also convenient to get both shots on the same day. In a press conference in September, White House COVID-19 Response Coordinator Ashish Jha said, "God gave us two arms—one for the flu shot and the other one for the COVID shot."

While it is safe to get a double-jab this season, it may come with a slightly higher risk of side effects the next day.

According to a CDC study published in JAMA in July, people who received a flu vaccine and an mRNA COVID-19 booster vaccine at the same time were more likely (between 8% to 11%) to report reactions such as fatigue, headaches, and muscle aches. Side effects tended to be mild and resolved quickly.

Did you get the bivalent booster and influenza vaccine at the same time? Reach out to amichelson@insider.com to share your story.

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The world's busiest international flight route carried more than 3.2 million passengers in the last year. See which other routes made the top 10.

Cairo International Airport (pictured) to to Jeddah, Saudi Arabia was the world's busiest international route during the last year.

AMIR MAKAR / Contributor / Getty Images

•  The Asia-Pacific region had many of the world's busiest international flight routes, pre-pandemic. 
• However, since the pandemic has waned, the Middle East is now dominating the list. 
• Here are the top 10 busiest International airline routes, as of September 2022, according to OAG.

Before COVID-19 crippled global aviation, the Asia-Pacific region dominated the list of the busiest international flight routes.

Eight of the top 10 busiest routes by scheduled seats flew into the region, according to travel data firm OAG. The route between Taiwan and the financial hub of Hong Kong was the busiest, with nearly 8 million seats a year.  

However, as global aviation continues to bounce back, the makeup of the world's busiest routes looks very different. 

Asia-Pacific carriers have had their ability to bounce back hampered by the generally slower pace at which the governments in the region have loosened strict pandemic travel restrictions.

At the same time, ambitious plans by governments like those in Saudi Arabia, whose Vision 2030 wants to increase the flow of passengers into the country over the next decade, have seen routes in the Middle East gain ground. 

According to OAG's latest Busiest Routes report, here are the 10 busiest airline routes over the past 12 months, based on the number of seats scheduled, as of September 2022. It features two US routes. 

10. Indira Gandhi International Airport, Dehli, India to Dubai International, UAE 

Seats: 1,898,749 

9. Cairo International Airport, Egypt to Riyadh King Khalid International Airport, Saudi Arabia 

Seats: 1,913,991

8. Mumbai International Airport, India to Dubai International Airport, UAE

Seats: 1,977,537

7. Orlando International Airport, USA to San Juan Luis Munoz Marin International Airport, Puerto Rico

Seats: 2,099,234

6. Dubai International, UAE to King Abdulaziz International Airport Jeddah, Saudi Arabia 

Seats: 2,425,930

5. Kuala Lumpur International Airport, Malaysia to Singapore Changi Airport

Seats: 2,443,176

Dubai International Airport, UAE to London Heathrow Airport, UK

Seats: 2,697,593

3. New York JFK, USA, to London Heathrow Airport, UK

Seats: 2,848,044

2. Dubai International Airport, UAE to Riyadh King Khalid International Airport, Saudi Arabia

Seats: 3,191,090

1. Cairo International, Egypt, to King Abdulaziz International Airport Jeddah, Saudi Arabia

Seats: 3,234,683

OAG also keeps a record of the world's 10 longest flights by miles. At 9,527 miles, New York to Singapore is currently the longest route in the world, as of September 2022. 

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See the presentations that hot healthcare startups used to raise millions from top VCs

Tia cofounders Felicity Yost and Carolyn Witte.

Tia

• Startups have raised billions on the promise of disrupting healthcare.
• To win over investors, startups often present their businesses through a slide deck.
• Here are the presentations obtained by Insider that healthcare startups have used to raise millions.
• See more stories on Insider's business page.

In the past few years, investors have bet billions on healthcare startups looking to disrupt the industry. 

In 2022, that activity has started to cool off as the market stumbles and companies postpone their public debuts. Even so, healthcare startups raised $15.8 billion in the first half of the year, according to Silicon Valley Bank. 

Winning over investors can be a long process, and it often involves a slide deck that lays out what the startup does, and where the company is heading. 

Insider rounded up all the presentations we've published that healthcare startups have used to raise cash from investors. 

Early on, startups sell investors on often newly tested ideas

When startup founders pitch investors ahead of a seed or Series A round, they haven't gotten far off the ground. 

Presentations can be helpful at laying out the approach that startup is taking, or plans to take. 

For instance, check out the 13-slide presentation heart-health startup Miga Health used to raise $12 million in seed funding. 

And StationMD used this 14-slide presentation to raise $3.2 million for its approach to providing care online to people with disabilities.

Others can use the presentations to share their new approaches, like Vori, which raised $45 million for a former neurosurgeon's approach to solving Americans' back pain.

And The Public Health Company raised $8 million from Verily and Venrock with this presentation laying out a new approach to fighting disease outbreaks.

They can also show how a startup might stand out in a competitive field. Brightside used this presentation to break through a crowded field of mental health startups and convince VCs to invest $24 million.

You can see more presentations below.

Read more:

See the presentation that convinced Gwyneth Paltrow and NEA to back digital menopause-care startup Evernow

See the 11-slide presentation that convinced General Catalyst to back a startup building a better system to help insurers track their doctors

See the 15-slide presentation a former Googler used to raise $9 million for his new approach to home care

Here's the 17-slide presentation Circles used to raise $16.5 million for group counseling

Here is the 23-slide presentation a former Marie Claire editor-in-chief used to get millennial men to invest in a startup that treats menopause symptoms

See the presentation that convinced 2 billionaires and Dr. Oz to invest in a new way of helping doctors care for patients at home

Here is the 29-slide presentation a former Cigna executive used to raise $40 million to improve how lower-income older adults receive healthcare

See the 14-slide presentation a members-only concierge emergency-care startup used to raise $30 million in Series A funding

Here is the 12-slide presentation that convinced health-tech juggernauts like Anne Wojcicki and Elad Gil to back a public-health-data analytics startup

See the 16-slide presentation a former Uber exec used to raise $25 million to tackle the growing in-home care market

See the 24-slide presentation the Mint founder used to sell investors and hospitals on his new emergency-room management startup

See the presentation a serial entrepreneur used to raise $20 million from Bessemer and Founders Fund for his solution for Americans living with chronic pain

See the presentation a startup used to raise $3.7 million for an entirely new approach to helping millennials plan for their deaths

By Series B, startups are looking for a chance to grow big

By their Series B rounds, startups are raising higher sums at higher valuations. They're often still early into their existence and are looking for ways to get big. 

For instance, Devoted Health raised $300 million at a $1.8 billion valuation in 2018 before it had signed on any customers. 

Women's healthcare startup Tia used this 30-slide presentation to raise $100 million one year after losing all its revenue 'overnight' because of COVID-19. As part of the funding, Tia planned to use the funding to expand its in-person clinics in new locations. 

And even amid the 2022 market downturn, Folx Health raised raise $30 million to provide more telehealth options for LGBTQ+ patients with this 17-slide presentation. 

Tomorrow Health, a home-care startup, used this 12-slide presentation to raise $60 million in Series B funding. It's backed by investors including Andreessen Horowitz. 

Swift Medical, an imaging startup for wound care, used this presentation to raise $35 million in its Series B. The funding could help the startup expand into more areas of wound care.

Meanwhile tech startup Stellar Health raised $60 million from General Atlantic with this presentation with its approach of rewarding doctors for providing better care. 

Read more:

See the 29-slide pitch deck that a digital health startup used to raise $24 million entirely from its hospital customers

See the 15-slide presentation Hint Health used to sell its vision of cutting insurance companies out of primary care

See the 17-slide presentation that convinced Livongo's Glen Tullman to invest in a dermatology startup

Here is the 12-slide presentation two academics used to sell investors on their virtual cognitive-testing startup

We got an exclusive look at the presentation BrightInsight used to convince investors to bet $40 million that it can help pharma giants go digital

Alphabet's VC arm just sank $140 million into a startup that wants to unseat dialysis giants like DaVita. We got the pitch deck that convinced CapitalG to back Strive Health.

Late-stage rounds can give startups the fuel to scale or gear up for a public debut

The presentations used to secure later rounds of funding can be used to show investors how far the startup's come, and what's ahead.

Often, the investors start to look different as well, and startups can find themselves pitching asset managers or industry incumbents, like health insurers. 

For instance, Tiger Global and Blackstone backed decentralized trials startup Medable in its Series D.

Tiger Global — alongside health insurer Humana — also backed the at-home healthcare startup Dispatch Health in its Series D. 

Meanwhile, Omada Health used this presentation to raise $192 million as it gears up for an IPO. Digital health startup Tebra similarly used this 23-slide presentation to raise $72 million as it prepares to go public. 

Insurer Centene has backed some later-stage rounds, including Hazel Health's Series C and Vida Health's $110 million round. The upstart shared the presentation that helped it raise the funds toward a new vision for the hardest kind of healthcare.

And Cedar used its Series C presentation to lay out the businesses it plans to tackle next. 

The presentations at this stage can help land startups like Aledade high valuations. Aledade raised $100 million in a round that valued the company at $2.1 billion.

Sometimes, if the founder is well-known, companies might even get unsolicited funding. This happened to Glen Tullman's new startup Transcarent, which raised a $200 million Series C round that valued the company at $1.62 billion. 

Read more:

Here's the 12-slide presentation that convinced Oak HC/FT and Tiger to bet on a virtual-reality startup to train surgeons

See the 13-slide presentation that convinced Oak HC/FT and NEA to bet on a hot primary-care startup

Here's the 11-slide presentation digital-health startup Podimetrics used to land $45 million for its remote-monitoring tech

See the 14-slide presentation that convinced ICONIQ and Sequoia to lead a $140 million investment in a startup focused on treating metabolic conditions

We got an exclusive look at the presentation telehealth startup Hazel used to raise $33.5 million and convince a major health insurer to bet on upending the way kids get healthcare

This pitch deck helped telehealth startup Heal raise $100 million and win a major partnership with healthcare giant Humana. Here's how the deal came to be.

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US stocks soar over 2% after September's higher than expected inflation report sparks wild turnaround

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• US stocks surged more than 2% in a wild trading session after September's CPI report doubled expectations at 0.4% month-over-month.
• The September inflation report poured cold water on hopes that the Fed will pivot away from its interest rate hikes anytime soon.
• Fed Fund Futures are now pricing in a 75 basis point rate hike in both November and December.

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US stocks soared more than 2% on Thursday, recovering from an initial decline of more than 2% after September's CPI report showed inflation continues to hit levels not seen in four decades. 

The S&P 500 was down 2.4% at its low for the day, before it recovered all of those losses and surged as much as 3%. The Dow Jones Industrial Average saw a 1,500 point intraday swing.

The reversal came after the S&P 500 tested 3,500, briefly hitting a low of 3,491. The 3,500 level represents a 50% retracement of the March 2020 low at about 2,200 and the January high of about 4,800.

Month-over-month inflation hit 0.4%, double the expectation for a rise of just 0.2%. CPI rose 8.2% year-over-year, which was above estimates for a rise of 8.1%. Even when excluding food and energy prices, CPI rose 0.6% month-over-month, which was ahead of estimates for a rise of 0.4%.

The hot CPI report erased all hopes that the Fed will soon pivot away from its aggressive rate hikes anytime soon. The Fed is now expected to hike interest rates 75 basis points in both November and December, according to the CME FedWatch Tool.

The shock CPI report erased early morning gains in the market, as the S&P 500 was briefly up about 1% after the UK government signaled a policy reversal of its proposed tax cut plans. However, the massive rally kicked off not long after the open, with the Dow up by more than 600 points by 11:30 a.m.

Here's where US indexes stood at the 4:00 p.m. ET close on Thursday:

• S&P 500: 3,669.86, up 2.6% 
• Dow Jones Industrial Average: 30,038.06, up 2.83% (827.21 points)
• Nasdaq Composite: 10,649.15, up 2.23%

Here's what else happened today:

• Deep oil output cuts by OPEC+ have elevated prices and could tip the global economy into recession, the International Energy Agency said on Thursday.
• OPEC is expecting oil demand to fall as the global economic outlook worsens, with fresh COVID-19 shutdowns in China a key concern.
• A potential threat to a large Norwegian natural gas plant sent jitters through European energy markets Thursday, as the continent frets about suspected Russian interference in its infrastructure.
• The pound soared Thursday following reports the UK government is discussing a potential pullback from parts of its mini-budget, an economic growth plan that was met with market turmoil after its introduction last month.
• Wharton professor Jeremy Siegel warned the Fed could send the economy into a depression if it waits for core inflation to fall back to 2% before ending its monetary tightening policies. 

In commodities, bonds and crypto:

• West Texas Intermediate crude oil rose 2.06% to $89.07 per barrel. Brent crude, oil's international benchmark, jumped 2.26% to $94.49.
• Gold fell 0.41% to $1,670.70 per ounce.
• The yield on the 10-year Treasury jumped 5 basis points to 3.95%.
• Bitcoin rose 1.45% to $19,366, while ether rose 0.09% to $1,287. 

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Retreating Russian troops are arming Ukraine with modern T-90 tanks as Putin's army digs 60-year-old armor out of storage, Ukraine's military says

Ukrainian soldiers (L) scavenge an abandoned Russian T-90A tank in Kyrylivka, in the recently retaken area near Kharkiv, on September 30, 2022.

YASUYOSHI CHIBA/AFP via Getty Images

• Ukrainian forces are now fielding captured T-90 tanks, modern armor taken as Russian troops retreat, the military said.
• As the Russian military loses more modern equipment, it has been forced to pull old tanks from storage. 
• Tanks are just one example of the kind of heavy weaponry that fleeing Russian forces have abandoned. 

Russian troops fleeing Ukraine's battlefield advances are leaving behind heavy weapons, including modern T-90 tanks Russia counts among its best main battle tanks, and the Ukrainian armed forces are putting them back into the fight, Kyiv's military said.

"Thanks to the generosity of the russian federation, the first batch of new T-90A tanks entered into service with #UAarmy," Ukraine's defense ministry said on social media Thursday, mockingly calling the move "particularly generous because at the same time the ruscists are launching a program to restore 60-year-old T-62 tanks for their own armed forces."

Russia has touted the T-90, a modern weapon born out of a T-72 modernization program in the final years of the Soviet Union that has been upgraded repeatedly over time, as one of the most advanced tanks in its arsenal, but even with capable tanks, Russian armor forces have faced setbacks and substantial losses in Ukraine.

Russian forces have lost lots of modern equipment throughout the devastating war in Ukraine and have been forced to pull old and obsolete tanks — like the T-62 referenced by Ukraine's military — from storage. The T-62 is a Soviet-era main battle tank that was eventually replaced by the T-72 and can be seen on display in some museums.

Ukrainian soldiers scavenge an abandoned Russian T-90A tank in Kyrylivka, in the recently retaken area near Kharkiv, on September 30, 2022.

YASUYOSHI CHIBA/AFP via Getty Images

According to an open-source intelligence analysis by Oryx, Russia, as of Wednesday, has lost over 7,000 vehicles and other forms of heavy weaponry — like artillery pieces and missile systems — since its forces invaded Ukraine in late February. This designation includes Russian equipment that's been destroyed, damaged, captured, or abandoned. 

More specifically, Russia has lost over 1,320 tanks — of which over 500 have been captured or abandoned. Losses include nearly 30 T-90A and T-90M tanks. 

Some observers have speculated that capture of the T-90M, which is an upgraded version of the T-90A, could help provide Ukraine and NATO countries with valuable insight into Russia's advanced military technology, which Russian President Vladimir Putin would probably have preferred remain in Russian hands.

Russian military servicemen wear face masks to protect against the coronavirus (COVID-19) and ride a heavy T-90 tank during the first city rehearsals of the Victory Day military parade, on April 29, 2021 in Moscow, Russia.

Konstantin Zavrazhin/Getty Images

Tanks aren't the only weapons that Russian forces are leaving behind in the face of Ukrainian advances. Moscow's troops have abandoned mountains of high-value weaponry, overwhelming Ukraine's ability to handle it all.

And on top of what Ukrainian forces have recovered from Russian troops, Kyiv also continues to enjoy military assistance and security packages from Western countries — much to the dismay of the Kremlin, which continues to threaten against the support.  

The Russian military's inability to destroy some of its vehicles or heavy weaponry when its forces retreat is another sign of disfunction on the battlefield and seems to suggest that there's either little to no procedures in place or that they had to flee quickly and didn't have time to neutralize the equipment.  

Britain's defense ministry said last month that the way Russian forces have retreated seems to vary.

"Some units retreated in relatively good order and under control, while others fled in apparent panic," it wrote in an intelligence update.

The retreat of Russian forces from key positions has been a relatively common theme since early September, when Ukrainian forces launched counteroffensives along the war's eastern and southern fronts. Moscow's military setbacks have forced Russian President Vladimir Putin to take several escalatory steps, including a partial military mobilization and even nuclear threats.

The past few days have been particularly turbulent as Russian forces launched several missile and suicide drone attacks on targets across Ukraine — including cities far from the front lines. The US and its NATO allies are now rushing to provide Ukraine with air defense systems. 

"Ukraine is not asking for soldiers from any other country. The Ukrainians are willing to fight for themselves. All they ask for is the means to do it," Chairman of the Joint Chiefs of Staff Gen. Mark Milley told reporters on Wednesday after meeting in Brussels with US allies and partners.

"As President Biden has said and many other national leaders have said, we will do as much as we can for as long as we can, and we will do as much as it takes for as long as it takes," he added.

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Trump planned to prematurely declare victory as early as 4 months before Election Day 2020, Jan. 6 committee claims

President Donald Trump reaches into his suit during a news conference where he prematurely declared victory in the election on November 4, 2020 with ballots still being counted in many battleground states.

Evan Vucci/AP

• The January 6 committee claimed Trump hatched plans to prematurely declare victory months before the 2020 election.
• The panel received testimony that Trump's plans began as early as July 2020.
• The 2020 election was uniquely susceptible to premature victory claims due to the sheer amount of mail-in ballots. 

President Donald Trump and his top aides planned as early as July 2020 for him to prematurely declare victory on election night if it was not apparent who was going to win, the January 6 committee claimed on Thursday, ahead of election that featured historic levels of mail-in voting that would take longer to tabulate.

"He told us he understood that President Trump planned as early as July that he would say he won the election even if he lost,"  Democratic Rep. Zoe Lofgren, a member of the panel, said during the hearing.

Lofgren was summarizing testimony former Trump campaign manager Brad Parscale gave to the committee.

The California Democrat also presented evidence that Steve Bannon had "advanced knowledge" of Trump's intent to declare victory on election night regardless of the outcome of the 2020 presidential race.

She then played a recording of Bannon telling associates just days before the election that Trump was "going to be off the chain" and "crazy."

"If Trump is losing by 10 or 11 at night, it's going to be even crazier … He's going to sit right there and say, 'They stole it.  I'm directing the attorney general to shut down all ballot places in all 50 states,'" Bannon predicted on October 31, 2020."If Biden is winning," he added, "Trump is going to do some crazy shit."

Trump did eventually follow-through with a plan to prematurely declare victory. Despite last-minute pleas from top aides, Trump announced without any evidence, "Frankly, we did win this election" in the early morning hours of the day after the election.

It wasn't just Trump pushing these claims either. The panel outlined how long-time Trump friend Roger Stone and former White House official Steve Bannon were openly talking about how Trump should declare victory to seize the moment in the event of an unsure outcome. 

For weeks before the 2020 election, officials and journalists warned it might take more time to predict a winner. Due to the COVID-19 pandemic, millions more Americans were voting by mail than in previous elections. Key states like Pennsylvania also did not change laws that would have allowed election officials to begin prepping absentee ballots for counting. Just as many predicted, people voting on Election Day tended to cast ballots for Trump before a so-called "blue shift" as more absentee ballots, many of whom voted for Biden, were counted. 

Thursday's hearing is expected to be the January 6 committee's final public hearing. Lawmakers focused on Trump's state of mind before and after the Capitol riot.

A spokesperson for the former president did not immediately respond to a request for comment.

This is a breaking news story. Stay with Insider for more updates.

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