Hello there! Have you ever watched a Hallmark movie (it’s ok to admit it) and wondered: Where did they film this thing? The answer is usually Victoria, British Columbia. Someone who lives there describes what it’s like living in a place built for the perfect happy ending.
In today’s big story, we’re looking at how the uproar over mysterious drones has people doing some investigating of their own.
What’s on deck
Markets: Bitcoin predictions for 2025 are rolling in, and there’s a wide range of possibilities.
Tech: Amazon’s RTO plans have one problem: There’s not enough office to return to.
Business: Not as big and a lot more expensive. Welcome to the new American dream.
But first, what is everyone droning on about?
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The big story
It’s a bird, it’s a plane, no it’s…
Spectee via Reuters Connect
Mysterious aircraft have taken over the night sky this month, but they probably aren’t bringing us gifts on the 25th.
Santa Claus might have some company in the sky as dozens of unidentified aircraft continue to pop up across the East Coast
The good news: Officials have stressed drones aren’t the work of a foreign adversary or a public threat. The bad news: That’s about all they are saying.
Donald Trump addressed the buzzy topic Monday during his first press conference since his election win. The president-elect criticized the government for not providing more details to the general public and said he canceled an upcoming weekend trip to his golf club in Bedminster, N.J.
The entire episode also reflects a growing challenge for the US military, writes Business Insider’s Jake Epstein. Multiple military installations have spotted drones in their area, which could be spying on military bases or become a hazard to their operations.
Nicolas Economou/NurPhoto via Getty Images
The lack of information isn’t stopping people from taking matters into their own hands.
Videos captured with Ring doorbells of potential drone sightings are being widely shared, writes BI’s Ana Altcheck. The app’s “Neighbors” section, typically for sharing info about lost pets or stolen packages, has become inundated with written reports and videos speculating about mysterious aircraft.
Of course, give the internet an inch, and it’ll take a mile. While some of the posts are earnest, there’s plenty of trolling going on. In some cases, users have gotten annoyed they’re being bombarded with notifications about drone posts.
Trying to explain the phenomenon behind the drones represents the perfect thread for conspiratorial minds to pull on, writes BI’s Katie Notopoulos.
To be fair, it’s only natural to want to do a bit of investigating. I admit, I’ve spent a bit more time staring at the sky than I normally would, hoping to glimpse our new “friends” (hopefully).
If you do decide to do a bit of sky gazing, it’s important to remember there are plenty of things up there that aren’t mysterious. The Federal Aviation Administration handles 45,000 flights every day.
So before you get excited about what you think is another drone flying over your backyard, check out this piece from BI’s Taylor Rains on how to distinguish what’s flying overhead.
News brief
Top headlines
3 things in markets
Anna Moneymaker/Getty Images
- Enjoy this week’s rate cut because it might be the last one for a while. Wall Street forecasters aren’t banking on the string of rate cuts to continue into early next year. A strong economy coupled with sticky inflation has experts projecting the central bank will pause easing its policy for a bit.
- Two sides of the same (bit)coin. The crypto bears see bitcoin dropping to $45,000 in 2025 (BCA Research), while the bulls see the asset climbing as high as $500,000 next year (Fundstrat). President-elect Donald Trump’s plan for bitcoin will have a massive impact, but there are also big moves being made at the state level.
- SoFi’s head of investment wants to vibe-check the market. Liz Young Thomas told BI it’s hard to ignore all the positive signals in the market. However, aggressive speculation that the rally won’t end despite stocks being overvalued could create a situation where the market gets too “frothy,” she added.
3 things in tech
Nickilford/Getty, MarkPiovesan/Getty, Maria Ivanova/Getty, Ljupco/Getty, Tyler Le/BI
- Exclusive: Amazon delays its five-day RTO mandate for some employees. The retail giant doesn’t have enough office space in certain locations, and internal notifications reviewed by BI show some RTO policy delays stretching as late as May. But this isn’t the first time Amazon has run into workspace capacity issues.
- Inside Wiz’s plans to become the world’s biggest cybersecurity company. The cloud security startup has expanded at a breakneck pace, raising $1.9 billion in just four years and passing on a $23 billion acquisition offer from Google. Raaz Herzberg, Wiz’s VP of product strategy, told BI where it plans to go from there.
- Klarna says it will start drug testing workers in Sweden. The buy-now, pay-later firm, which is gearing up for an IPO, said the move was part of a wider effort to “strengthen security” in an internal Slack message sent Monday.
3 things in business
Javier Jaén for BI
- The American dream is a lot smaller these days. Fewer kids. Smaller homes. Less free time. Oh, and everything costs a lot more, and you probably won’t be happy. The American dream sure looks a lot different than it used to.
- Move over, Bluesky. Thousands of users have ditched X in the wake of the 2024 presidential election, with many flocking to platforms like Bluesky. But instead of shouting into the void and giving in to doomscrolling, some are turning to their group chat with friends for more meaningful interactions.
- Introducing BI’s 10 industry innovators of 2024. What do the CEO of Nvidia, the commissioner of the WNBA, and the head of Amazon Prime Video have in common? They’re all shaking up and transforming their industries in their own ways.
In other news
The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Grace Lett, editor, in Chicago. Ella Hopkins, associate editor, in London. Amanda Yen, associate editor, in New York. Milan Sehmbi, fellow, in London.
