Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Weekly. Hope you're enjoying your holiday weekend — we've got some great reads for you today.
On the agenda today:
- Leaked documents say Silicon Valley darling Cerebral harmed hundreds of patients.
- Why it's time to overhaul bad bosses and radically rethink management.
- The housing market's next biggest crisis: too many homes.
- Insiders at the $12 billion delivery startup Getir describe a harsh, unsafe culture.
But first: Travel is a nightmare right now. Since many of you are hitting the skies or roads this weekend, we're taking a look at what's going on — and what you can do about it.
This Fourth of July weekend, things are going to get ugly. Air-travel-related things, that is.
Flight cancellations are spiking, airports are preparing for dangerous overcrowding, people are going to extreme measures just to talk with customer service, and airlines are offering thousands of dollars to people willing to get bumped from oversold flights.
We all knew this was going to happen; last week, Insider reported it was going to be a terrible summer for air travel. Now, Delta's CEO has even announced he'll activate the company's "Peach Corps," a fleet of workers intended to help travelers navigate this hellscape — and American Airlines is offering pilots pay rises of up to $65,000.
Here's what to know:
- If your flight gets delayed or canceled, here's what to do. If you're flying with Delta, they'll let you change your flight for free.
- You might be spending a lot of time on the airport's WiFi. Here's how to keep your data safe.
- If you're heading out on a long car trip, well, here's a trend: Rich New Yorkers are getting medical procedures to avoid bathroom breaks on the drive to the Hamptons.
Good luck, travelers.
Now, onto this week's top stories.
Once considered a Silicon Valley success story, Cerebral had a bold mission: to democratize access to high-quality mental-health treatment. But more than 2,000 leaked documents and interviews with dozens of current and former employees suggest the startup operated in flagrant disregard of clinical standards.
In a few reports, insiders flagged that medical providers prescribed potentially lethal combinations of drugs or prescribed addictive drugs to patients with histories of addiction. In some instances, patients with complex conditions, such as bipolar disorder, were assigned to clinicians who lacked sufficient training, supervision, and support to treat them.
Let's admit it: Most managers are terrible. The Great Resignation and the rise of remote work has shown we need a better class of bosses. A recent survey found 85% of people believed they could do their jobs without a manager, while 82% would consider quitting because of a bad manager.
The connection between workers and bosses has become frayed, Ed Zitron argues. Zitron's proposal: Fire every manager who doesn't directly participate in the work alongside their employees.
After soaring house prices, rising rents, and bidding wars during the pandemic, the US housing market could head toward a slowdown, a housing research and investing firm told Insider. It's now concerned about weakened housing demand.
Because the number of houses under construction has soared with a backlog of inventory, there could soon be more homes than people who want them. In a market defined by booms and busts, this all could spell troubles for the broader US economy.
On the surface, the $12 billion ultrafast delivery service Getir appears to have more experience than some of its rivals. But employees told Insider that hasn't translated to success in its US launch — and now, they say work has become dangerous.
"There's just zero future in getting a profitable model together that I could see," one employee told Insider.
This week's quote:
"More customers trickled in, people left us positive reviews on Google, and around the six-month mark, we'd tripled our revenue."
— 31-year-old Carlos Ochoa on how he began making $24,000 a month after buying a laundromat.
More of this week's top reads:
- A JPMorgan Chase staffer tells us what it's like to be tracked by the bank all day.
- A former Tesla employee describes being laid off without warning.
- Inside Palm Beach's luxury-real-estate bonanza.
- As Allbirds loses money, analysts share what it needs to do to survive.
- Dog the Bounty Hunter's son spearheaded one of the country's most exclusive members' clubs. Was it all a lie?
- "My first trip on ayahuasca was life-changing. So I did it again."
- If you want people to come back to the office, ditch the cubicles and open floor plans.
Plus: We're seeking nominations for Insider's first Climate Action 30 list. Submit your nomination here.
Curated by Matt Turner. Edited by Jordan Parker Erb, Sarah Belle Lin, and Lisa Ryan. Sign up for more Insider newsletters here.