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• Only tech companies are seeing growth from the AI boom, Apollo Global Management says.
• Apollo says that though some big companies are spending big on AI, they may soon pull back.
• Corporate America is starting to see AI spending not as a source of growth, but as a cost center.

One of the world’s largest investment firms says that only tech companies are getting a share of the AI pie.

In an economic analysis published on Saturday, Apollo Global Management said that while the Magnificent Seven — a group of established tech companies that includes Nvidia and Meta — are seeing revenue growth during the AI boom, this growth isn’t being shared by other industries.

“Mainstream corporate America is pulling back and starting to view token spending not as a source of growth but as a cost center that weighs on margins,” Torsten Slok, a partner and chief economist at Apollo, said in the report. “The technology has delivered zero financial payoff to corporate America outside of tech.”

In a series of graphs, Slok measured three main metrics that have boomed for tech companies but not for regular companies: revenue per worker, profit margins, and productivity growth.

Since 2022, revenue per employee figures have skyrocketed for tech companies — rising from $550,000 to nearly $800,000 today. Meanwhile, that figure hasn’t changed much for everyone else in the S&P 500, lingering around $550,000 for the last seven years.

Similarly, while profit margins soared among tech companies since 2022, they’ve stagnated at about 10% for everyone else.

And across the economy, AI hasn’t yet dramatically increased productivity growth as some AI optimists have predicted.

Apollo’s research portends a dark shadow over a US economy throwing massive amounts of dough toward AI tools and companies, whose leaders have promised that an “age of abundance,” where people won’t have to work as much, will soon be upon us.

“The question looking ahead is whether, even as models become commoditized, mainstream corporate America can turn increasingly cheap intelligence into higher revenue growth and higher profit margins,” Slok said.

“That may be harder than it sounds,” he added.

In the 1940s and ’50s, Route 66 was one of America’s most popular highways, driving business to small towns from Chicago to Santa Monica. But today, the road and its people have been largely forgotten. Ghost towns, empty motels, and abandoned gas stations line its path. Chief correspondent Abby Narishkin grew up along the road. In celebration of its 100th anniversary, she drove down the old route herself to visit the people and businesses still keeping this Americana legacy alive.

• I’ve been an interior designer for years, and I believe some design “rules” are worth breaking.
• A room not working doesn’t mean you need to make it bigger or completely remodel it.
• Don’t avoid using furniture that’s “too nice,” or do open shelving just because it’s in magazines.

In my years working in interior design, I’ve had many clients approach me looking for definitive “rules” for decorating their homes.

They want to know how to make their home look good and function better, assuming there is a set of guidelines to help them get there.

Certainly, there are building codes, safety requirements, and circulation considerations that must be met. However, much of what we think of as design and decorating is guided by rules of thumb, best practices, and even cultural assumptions.

The longer I practice design — over 20 years now — the more I learn that there are very few set rules to follow. Although some can be a good starting place, they often overlook the people who actually live in the space we’re designing.

Here are a few design “rules” I think are worth breaking and why.

If you’re remodeling your kitchen, you definitely need some open shelving.

Open any shelter magazine, and you will likely see open shelving as a prominent kitchen feature.

Open shelving is beautiful, often breaking up a wall of cabinetry, making a kitchen feel lighter and more open while creating a place to display dishes, glassware, cookbooks, or other collected personal effects.

Although I, too, am drawn to open shelves, I question whether it’s the right choice for every client. Those beautifully styled shelves require you to decide what stays visible, keep some degree of order, and deal with more dust and kitchen grime.

For some people, that’s no problem — or even enjoyable. For others, it’s one more thing to maintain.

Before my clients make this design choice, we talk through what would actually live on those shelves and whether they want the responsibility of keeping them looking the way they imagine.

After all, a trend can show you a new possibility, but it can’t tell you whether that possibility fits your life.

Your interior style should match your home’s architecture.

I have many clients who make this assumption: If my home has a traditional architectural character, my new kitchen or bathroom must also have more traditional elements — think Shaker cabinetry, crown molding, and bronzy hardware.

Although I agree that architectural continuity can create cohesion, the architecture of your home is context, not a mandate.

When someone doesn’t identify with their home’s traditional character, I think it’s important to honor the individual. I have seen many contemporary interiors set within traditional homes, and the juxtaposition can be breathtaking.

If your home isn’t working, you need more space.

When a space feels cramped or isn’t functioning well, I often see clients immediately assume they must add square footage.

Sometimes an addition is the right answer, but often the problem lies in how the existing space is being used.

For example, I had a client who was considering an addition to their kitchen. As we studied the existing space together, it became clear that the kitchen already had plenty of room, but the current layout wasn’t making good use of it.

Rather than expanding the footprint of their home, we focused on reorganizing the space they already have so it functions better for them.

Before assuming more space is needed, identify where the friction is coming from: difficulty moving through a room, belongings that pile up in unwanted places, or things stored far from where they’re used.

It’s impossible to solve a problem you don’t fully understand.

Some furniture is too nice for everyday use.

If you’ve ever invested in beautiful or expensive furniture, you may have worried about how you’ll protect it from getting “ruined” by daily life.

But here’s the rub (pun intended): When protecting furniture starts interfering with actually living in your home, we may have a problem.

Think about the white sofa featured in the aspirational home decor imagery in magazines or on social media. It’s beautiful. It’s pristine.

However, every Friday night, it needs to be covered with a blanket before anyone settles in to watch TV with a glass of red wine and a piece of chocolate. At some point, the needs of the furniture began to take priority over those of the person using it.

Here is the truth: Furniture is meant to be used, and a home is meant to be lived in.

Your kitchen trash can should be next to the sink.

This is a pretty standard kitchen-planning rule of thumb: Put waste collection close to the area where food prep and cleanup happen.

However, this is based on an assumption about how people use their kitchens. Sometimes, there are better layouts depending on your situation.

For example, many of my clients compost most food scraps. One such client keeps a small compost container on her counter, which is convenient during food prep and clean-up. Between composting and recycling, her regular landfill garbage gets very little use.

Once we uncovered how little this client uses the conventional trash can in her kitchen, we decided to relocate it elsewhere, freeing up valuable cabinet space near the sink and dishwasher.

This may not follow the design “rule,” but it’s a more practical arrangement for her space.

Empty spaces should be filled.

Sometimes an empty wall, shelf, or corner of a room can make a space feel unfinished, and our natural inclination is to fill it.

However, is empty space actually a problem that needs to be solved? No … at least not immediately.

I often encourage my clients to experiment with leaving something empty as part of the design process. It gives you an opportunity to live with the space and discover what — if anything — you actually need there.

You may discover a function you hadn’t anticipated, eventually find something you genuinely want there, or realize that the room works better without anything at all.

If a room isn’t working, it needs a makeover.

If a space feels unfinished, disjointed, or just “off,” we often believe it needs a substantial change — new furniture, different finishes, or even a remodel.

And with so many dramatic reveals and before-and-afters, it’s no wonder we think meaningful improvements require meaningful (and expensive!) interventions.

Rather than replacing everything, sometimes small, thoughtful changes can alter how a whole space feels.

For example, I had a client whose guest bathroom was remodeled several years ago. The materials, fixtures, and finishes were beautiful, but they didn’t quite come together as a whole.

Rather than replacing them, we added a single wall of peel-and-stick wallpaper, a DIY project the client could tackle over a weekend. It connected what was already there and made the room feel cohesive.

Your interior designer has better taste than you.

Because an interior designer has professional expertise and experience, homeowners assume their aesthetic judgment is more valid — or that the designer has the “right” design answer, and they do not.

Designers understand proportion, scale, color, materials, and composition, but clients know more than they give themselves credit for. They notice when a color feels wrong, have strong reactions to particular materials or furnishings, and can identify what they prefer even if they don’t have the design vocabulary to explain why.

Although a designer can help you understand those preferences and translate them into a cohesive space, your own sense of what feels right should be part of the design process.

After all, expertise isn’t about applying rules indiscriminately — it’s about knowing when they serve the person in front of you and when they don’t.

I have a saying in my practice: “You do you!” You are the expert in how you live, what you like, and what makes you feel at home.

• France and other countries across Europe are weathering another weekend of protests.
• In Paris, major tourist landmarks and storefronts shuttered for the day.
• The French interior ministry upped its police presence and deployed 70,000 personnel to the streets.

As France grapples with another weekend of cost-of-living protests, some of its most famous streets and landmarks are boarded up.

On Saturday, protesters took to the streets in major cities across France, including Paris and Marseille.

Though police in riot gear deployed tear gas and water cannons to disperse the demonstrations, the looting and rioting seen during last week’s protests did not materialize.

In a statement, French Interior Minister Laurent Nuñez said that as of 7:30 p.m. local time, authorities had made about 1,000 arrests.

Hundreds of thousands of protesters took to the streets in France on Saturday.

Last weekend, student-led cost-of-living protests devolved in some places into violent riots and looting.

This weekend, the interior ministry increased its police presence, deploying some 70,000 officers across the country on Saturday. The protests drew support from various groups and organizations, including the gilets jaunes, or yellow vests.

On Saturday morning, military officers and a multipurpose intervention vehicle could be seen positioned outside Paris’ National Assembly building.

Police deploy water cannons, tear gas in Marseille

In Marseille, police deployed tear gas and water cannons to break up protests. Videos from the scene showed lines of police charging protesters.

Paris gets violent

In the French capital on Saturday, thousands of officers largely prevented looting by keeping protesters to a predetermined parade route.

Videos showed demonstrations descending into melees as officers attempted to disperse crowds with tear gas and batons.

Shops on Paris’ iconic Champs-Élysées were boarded up.

Luxury stores including Dior, Louis Vuitton, Cartier, and Moncler all have stores on the Avenue des Champs-Élysées.

Some 1,500 businesses were targeted in last weekend’s vandalism, said Alexandre Bompard, the CEO of Carrefour, one of France’s largest supermarket chains.

French business leaders widely condemned the looting that happened on October 17.

Business leaders, including Thierry Guibert, CEO of Lacoste, and Nicolas Houzé, executive chairman of Galeries Lafayette, all spoke out in the aftermath of last weekend’s damage.

“We cannot allow violence to destroy what generations have put so much energy into building,” Guibert wrote on X.

In central Paris, some shop owners boarded up their businesses as a precautionary measure.

Among the areas targeted in last weekend’s violence in Paris were the Marais shopping district and the Place de la République.

Speaking to Business Insider’s correspondent, Nathan Rennolds, last weekend, one shopkeeper in Paris said looters had “taken everything.”

Major Paris tourist attractions, including the Louvre, have closed.

In a notice on its website, the Louvre says the museum would be closed on Saturday and all reservations would be reimbursed. The Louvre closed its doors earlier this week after student protests blocked the entrances.

The Grand Palais and Musée d’Orsay are also closed for the day.

In an update issued on Thursday, the US Embassy in France warned Americans to avoid demonstrations and said curfews across the country, including in some Paris neighborhoods, might continue. It also advised Americans in Paris for the NFL game on Sunday, October 25, to exercise caution.

Protests turned out across Europe on Saturday.

Protests are also expected in countries including Italy, Spain, Portugal, and Albania. Police in Tirana, Albania’s capital, deployed tear gas against anti-government student protesters on Saturday.

• Peter Thiel said Apple hasn’t innovated since the iPhone.
• Thiel said Tim Cook hasn’t taken the company in new directions.
• The billionaire venture capitalist said eccentric CEOs like Elon Musk “are way better for society.”

Peter Thiel, evidently, isn’t a fan of the iPhone Duo.

In fact, the billionaire PayPal cofounder and tech investor said he hasn’t been very impressed with much of anything that Apple has done since its eccentric founder, Steve Jobs, died of cancer in 2011.

“In my telling, it did nothing new after Jobs,” Thiel said of the iPhone maker in a September interview with author Walter Isaacson for the “Builder’s Podcast,” which was released on Thursday.

“It turned out, yeah, the mobile phone was this giant invention — there was not that much more to do,” he said. “Then it was just scaling and branding and building it out over 15 years or whatever.”

Indeed, Apple has faced criticism for failing to innovate beyond the mobile phone and tablet, especially in the age of AI, where its “Siri” product is not as advanced as rivals from ChatGPT or Anthropic.

Jobs unveiled the first iPhone back in 2007 at a conference in San Francisco. Nearly 20 years later, Apple released the 18th iteration this week, with one slight caveat: This one folds.

That said, MacBooks are the de facto laptops for many an AI-nerd and normie alike. iPhones are ubiquitous, and the sleek AirPods design took hold when they were released in 2016.

Though Thiel told Maureen Dowd of The New York Times in 2017 that Apple’s era was over, the company’s stock price has grown steadily since then.

Thiel didn’t pooh-pooh Apple entirely. He called it a “pure, well-run value stock,” but lamented what he described as the loss of vision after Jobs’ death.

“I would still say somehow Elon or Steve Jobs are way better for society than Tim Cook,” he said.

Apple didn’t immediately respond to a request for comment sent on Saturday.

• My 21-year-old son wanted to visit a lively beach club during our family vacation.
• I never expected my parents, both in their 70s, to get up and dance to ABBA.
• Seeing their joy reminded me that getting older doesn’t mean giving up new experiences.

My 75-year-old dad told me he’ll feel like he’s closer to dying if our annual family vacations stop. He’s not ready for that. Neither am I.

It stopped me in my tracks and frankly scared me a little. While I know my parents are aging, I haven’t begun thinking about life without them, and I found myself spending the rest of the vacation looking through this new lens.

For the last 12 years, my husband, my parents, my son, and I have traveled all over the world on an annual multigenerational trip. And while the sights have been spectacular, what struck me most on this last vacation is just how much each of us has grown to value these trips.

I’m in the middle between my parents and my son

The dynamic has certainly evolved. My son was 9 when we started, is now 21, and brings his girlfriend along. My parents are now in their mid-70s, with some health challenges that require more patience and care. And I’m in the middle, adjusting the trip so everyone can still participate. I used to plan for adventure. Now I’m thinking about walking distances, downtime, unpacking, and what my parents can comfortably do, while still making it fun for the 21-year-olds.

But what I learned on this trip was that sometimes, when choosing something for the youngest generation, a magical memory is created for the oldest, like when we went to Nikki Beach in St. Tropez at my son’s request. We had been there for lunch a few years prior, and we wanted to return, this time when we could see the true Euro summer beach club vibe in action, complete with waving white napkins and ABBA blasting from the DJ booth.

I never would have guessed it, but both of my parents were up and dancing that day. My mom has since declared the whole day one of her favorites. Who knew? Maybe all they need is a “darty” (day party, as my college kid tells me!).

These are not just vacations for my parents

After what my dad had said earlier in the trip, I watched him differently that day. Seeing him dancing with my mom, laughing and completely in the moment, I understood a little more of what he meant. These trips aren’t just vacations to him. They are something he still gets to look forward to, proof that there are more places to go, more memories to make, and more life ahead of him.

The thing is, for the first few years of these trips, I just wanted to knock places off my bucket list. Now, I want to figure out how to bottle the time and have lasting pictures in my head because a time will come when they stop, when it is no longer feasible for my parents to travel, and when my son will be busy with work and his own family.

I know the finality of life all too well, as I still struggle with the loss of my son Jake after 15 years. I know firsthand the fragility of life and how it can all change in an instant.

My dad’s comment also made me realize that I’ve been thinking about these trips mostly from my own perspective as planner and caregiver. I worry about how much walking they can do, whether they need an afternoon off, or if I’ve planned too much. He’s thinking about something entirely different. He’s thinking about what it means to still be able to go.

The goal is to spend time together

The success of these trips used to be measured by where we went and what we saw. Now they are measured by how much uninterrupted time we have together. As we’ve shifted from bucket-list places like Africa and the Galápagos, we’ve begun to choose places where we don’t have to pack and unpack every three or four days, where we can settle in and spend time together.

We’ve all learned that the real moments of these trips do not lie in the over-the-top experiences. They lie in the moments after the excursion, when we are all having cocktails by the pool and sharing time, the most valuable gift we all have. It’s in the final glass of wine, listening to music, or playing Flip 7 or Pass the Pigs. It’s when we are tired from exploring and stop to have a beer on a random street in a random place that we may never find again.

I don’t know how many more years the five, now six, of us will be able to do this together. I hope it’s many. But my dad’s comment made me realize that counting the years almost misses the point. We got this trip, and while we were there, everyone could still dance.

Perhaps the most important thing is that when my parents started this tradition all those years ago, they started something that won’t end with them. I know someday these trips will be for my son and his family. I love knowing my parents gave us that tradition. I’m just in absolutely no hurry to inherit it.