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Larry Fink, the CEO and chairman of Blackrock, and co-chair of the World Economic ForumFabrice COFFRINI / AFP via Getty ImagesLarry Fink critiqued capitalism during his opening remarks at the World Economic Forum on Tuesday.Capitalism has focused wealth in the hands of a narrow minority since the end of the Cold War, said the BlackRock CEO.The concentration of wealth could repeat in the AI era, he added.Larry Fink, the CEO of BlackRock, the world's largest asset management firm, kicked off the World Economic Forum on Tuesday with a critique of capitalism.More wealth has been created since the fall of the Berlin Wall than at any other time in human history, but it has not translated into shared prosperity, said Fink, who was appointed as interim co-chair of the World Economic Forum in August 2025, replacing founder Klaus Schwab."In advanced economies, that wealth has accrued to a far narrower share of people than any healthy society can ultimately sustain," he said.Fink warned that the pattern of unequal wealth distribution could repeat in the era of AI."Early gains are flowing to the owners of models, owners of data, and owners of infrastructure," said Fink."The open question, what happens to everyone else? If AI does to white collar workers what globalisation did to blue collar workers, we need to confront that today, directly."He urged those gathered at the annual meeting in Davos to rethink how prosperity is defined and to create a "credible plan" for broad participation in the gains AI can deliver."This is going to be the test. Capitalism can evolve to turn more people into owners of growth instead of spectators watching it happen," said Fink.The world's wealthiest 10% own roughly 75% of global wealth, while the poorest half hold only about 2%, according to the World Inequality Report 2026, released in December 2025 and based on data compiled by 200 researchers.Fink acknowledged in his speech that the World Economic Forum has lost trust and "feels out of step with the moment.""Davos is an elite gathering trying to shape a world that belongs to everyone," Fink said, adding that the forum should be more transparent and precise about what economic success means, especially with those who don't feel represented at gatherings like Davos."Prosperity just isn't the growth in the aggregate. It's not just GDP. It can't be measured by GDP or the market caps of companies. It has to be judged by many people who see it, who can touch it, can feel it, and can build their own future on it," said Fink.Fink has previously spoken about how the pandemic fueled a rethink of the US economy.In his 2022 annual letter to shareholders, Fink said the growth of stakeholder capitalism — the idea that companies should prioritize interests beyond shareholders — was a natural evolution of how capitalism can best work to build a strong economy."It is through effective stakeholder capitalism that capital is efficiently allocated, companies achieve durable profitability, and value is created and sustained over the long-term," he said.BlackRock, which manages some $14 trillion in assets, has been one of the loudest voices in support of environmental, social, and corporate governance (ESG) investing, with Fink often highlighting climate change and sustainability in his annual letters.Read the original article on Business Insider

Bill Shufelt, the CEO and co-founder of Athletic Brewing, started the brand after he quit alcohol and saw a market for N/A beer.Athletic Brewing CompanyThis as-told-to essay is based on a conversation with Bill Shufelt, the founder and CEO of Athletic Brewing. Shufelt founded the nonalcoholic beer company in 2017, which has since has driven over 23% of N/A beer category growth over the last seven years. Shufelt lives in Connecticut, near one of the breweries (he occasionally travels to the other brewery in San Diego). This story has been edited for length and clarity.I cut back on drinking as my fitness journey accelerated. As a day trader, I was used to taking 4:30 a.m. group boxing classes before I started work at 6:00 a.m. In my late 20s, I started running ultramarathons. I stopped drinking alcohol in 2013, and it was one of the biggest life hacks I ever discovered. I had all this newfound energy, better sleep, better workouts — and no hangovers.It's also how I learned there was a real void of good nonalcoholic options. I loved socializing; I love good food and good beer, being out with my colleagues and family. But there was just nothing out there. It was definitely awkward — if I were at a work dinner and had to ask for a non-alcoholic menu, it felt like the whole room would stop and look at me.When I asked any of my friends or family, no matter how much they drank, from never to very often, almost everyone uniformly and enthusiastically said they'd be interested in nonalcoholic beer options. At the time, N/A beer accounted for 0.3% of the market, but over half the people in any survey I ran expressed interest in it. There was a broken feedback loop between the industry and the consumer.I set out to change that. After a decade-long hedge fund career, I founded Athletic Brewing in 2017 with our co-founder, John Walker.I was building from personal experience: I wanted this product to exist. I quit my job without ever having brewed a batch of beer. We had no prototype; just a lot of confidence that I was the future consumer.Here's a look at my typical day as the CEO of Athletic Brewing.I start my day with a peaceful dog walkI've always been a morning person. I really take advantage of the times of day that I can absolutely control, where there aren't any distractions.The first thing I do when I wake up is walk our two dogs and meditate. In my head, I lay out three priorities for the day: what are the most key building blocks?When I get back, I write down those three goals before doing anything else — even pouring my first cup of coffee. I tend to knock them out right at the beginning of the day.Quick sweats, including burpees and outdoor runsShufelt running a Spartan race.Athletic Brewing CompanyBefore I became a father, I ran about 10 Spartan, or obstacle-course, races a year. I'd love to get back out there in the future.Now, I try to sweat early in the morning unless I know I have a workout planned later. If I have 10 minutes, it might be something as simple as burpees in my living room or basement, but normally it's something a little more robust, like running outdoors, jumping on a treadmill or Peloton bike, or doing a quick weights workout.If I had more time, I would love to do a lot more trail running than I currently do — I usually have time for one six-mile run on the weekends, about one hour. It's just the current stage of life I'm in.I cook breakfast for my wife and son every dayI cook breakfast for my wife and son every day. It changes, but generally it's just healthy, simple stuff from scratch — cheesy eggs, fruit bowls, toast.It's a really good way to spend quality time with my family — it leads to natural conversation, figuring out what's going on in everyone's day.After, I drop my son off at school and continue on to the brewery. Then, I'm off and running.Prioritizing screen-free interactionShufelt at the Athletic…

Young people are increasingly shopping secondhand.NurPhoto/NurPhoto via Getty ImagesThe secondhand fashion and luxury market has surged and is forecast to keep growing in 2026.Gen Z is driving some of the growth of resale apps like Depop and Vinted.Fill out our survey to tell us where you like to shop.Secondhand shopping is becoming the first choice for many consumers — especially Gen Z.The trend is reshaping the fashion industry.The secondhand fashion and luxury market is forecast to grow two to three times as fast as the firsthand market through 2027, according to a November report from The Business of Fashion and McKinsey. Online resale is driving a lot of that growth, and is forecast to grow 16% annually in the next two years.Part of that growth is driven by a search for value, but there are also more platforms than ever to shop for secondhand goods.Gen Z has been gravitating toward resale platforms like eBay, Depop, Pickle, and Vinted. Online marketplaces like these accounted for 88% of resale spending in 2024, according to the November report.Shopping for vintage clothes ignites a sense of individuality that fast-fashion can't always achieve, three Gen Zers said at a retail conference in January.President Donald Trump's tariffs also helped boost the US secondhand market in 2025. Negotiations and uncertainty around imported goods pushed some US shoppers towards more stable options, such as thrifting.It's a new year, and the resale market is on track to keep growing. We want to hear where you're shopping in 2026. Please fill out the survey below.Read the original article on Business Insider

Erin Renzas is a former marketing executive.Dina Litovsky for BIErin Renzas spent nearly two decades dutifully climbing the career ladder before she hit a breaking point.She had achieved many of the outward markers of success, like a high-paying tech career, including a stint as marketing lead during Square's IPO. So why wasn't she satisfied?"I decided, like so many women do, the thing I hadn't changed was my body," Renzas said. "I was looking for how I could perfect myself into the point of happiness." That included becoming "the perfect version of what society tells us to be," she said, losing more than 100 pounds through diet and exercise.Rather than finding happiness as she got smaller, her mental health deteriorated. She said she found herself experiencing dissociative episodes. At times, she was convinced she had died.Renzas was working as an operating partner at investment group Prosus in Amsterdam at the time. "I would go into big, huge meetings and then I would go to the gym, and then I would come home and tell my mom I didn't exist — for basically two years," she said.Renzas throws a punch at Gleason's in Brooklyn.Dina Litovsky for BIHer gym had a boxing ring in the back. Sick of running, she decided to give it a try.She was immediately hooked. Boxing was the only time that she "felt whole," Renzas said. Unlike other sports, she found it impossible to dissociate while boxing. "You have to be so grounded in your body."She's now an amateur boxer who has competed in four fights, all wins, and is writing a memoir about how boxing "fixed" her brain.This year, she also co-launched a new retreat for senior executives, encouraging other women to give the sport — and the perspective that boxing can provide — a try."Left hook, left liver," boxing coach Malic Groenberg calls out over the rhythmic din of punches.He and three of Renzas' other coaches have flown out from Amsterdam to Gleason's in Brooklyn. Groenberg talks through a basic combination, watching closely as two women wearing boxing gloves jab at punching bags being held in place by a pair of novice boxers."So we start, 1,2, catch, and then, as soon as you feel the punch here … Yeah, you've got it," he says to them.Most of these women hadn't put boxing gloves on before until 24 hours ago, let alone trained at Gleason's, the longest-operating boxing gym in the country. With its bright red walls and crooked portraits of past heavyweights, the bustling institution is an unusual place for a women's executive retreat.That's exactly the point."Boxing is about operating in the chaos," said Renzas. "It's about finding the clarity and rest and seeing your shots in the midst of everything else going on."Shea O'Neil facilitates a session.Dina Litovsky for BIThe sport gives you a chance to consider: "What do you do when your back is against the corner?" said somatic and executive coach Shea O'Neil, who cofounded the retreat with Renzas. "And how do you pivot and reclaim space?"O'Neil used to be Renzas' executive coach, and the pair discovered that the vocabulary and philosophy surrounding boxing was especially relevant to their work."Shea and I began bringing the language of boxing — what I was learning about fight strategy — into our conversations exploring career, the definition of success, and what was worth fighting for," she said.Renzas said she was having similar conversations with other leaders in her network, and O'Neil was using the same ideas with other executive clients she was working with, too. It "really struck a chord," Renzas said.So, they decided to offer a formal program for women executives, which they named Fight Co.Lab — a hybrid boxing intensive and personal development workshop. Eleven women participated in the inaugural…