Costco's consistency -- from its $1.50 hot dog and drink combo to its functional shopping carts and satisfied employees -- has produced what The Atlantic calls a "cultlike loyalty" among members at more than 600 locations across the U.S. Its annual membership costs $65. The model traces back to Fedco, a nonprofit wholesale collective for federal employees founded in Los Angeles in the 1940s. Costco's private label Kirkland Signature has become one of the world's largest consumer packaged goods brands while maintaining deliberately understated branding. The company relies on word-of-mouth marketing from satisfied members rather than traditional advertising. Atlantic staff writer Jake Lundberg, who shops at the Granger, Indiana location, describes the stores as spaces of "cooperation, courtesy, and grown-ups mostly acting like grown-ups." Shoppers follow unwritten rules: move along, don't block the way, step aside to check your phone. Checkout lines form orderly queues. The exceptions come near sample stations and before major holidays, when spatial awareness and common courtesy break down.

Read more of this story at Slashdot.

Warren Buffett is retiring as CEO of Berkshire Hathaway at age 95, ending a 55-year run that reshaped how generations of Americans think about investing. "The 95-year-old, often referred to as the 'Oracle of Omaha' and the 'billionaire next door,' will relinquish the title after a career that saw him turn a failing textile firm into one of the most successful asset managers in the world," reports NBC News. From the report: Greg Abel, the 63-year-old lesser-known CEO of Berkshire's energy business, will take the helm of the conglomerate on Thursday. Buffett will remain its chairman. Under Buffett's leadership, Nebraska-based Berkshire has thrived at the intersection of Wall Street and Main Street, with investments in industries ranging from railroads and insurance to candy and ice cream. Along the way, while living in the same house he bought for just over $30,000 in the late 1950s, he redefined investing for the American public with his folksy and practical advice, became one of the wealthiest people on Earth and dedicated much of that fortune to philanthropy. Berkshire's most significant tech bet was initiated in 2016 when it invested $1 billion. Apple has since become Berkshire Hathaway's largest single holding, representing over 20% of the portfolio and valued at more than $65 billion. While Buffett largely avoided pure tech for decades, Buffett long considered technology a blind spot, famously saying "I wish I had" bought Apple earlier. Throughout the years, Buffett expressed his disinterest in cryptocurrency and said he would "never own bitcoin," referring to it as "probably rat poison squared" and a "gambling token."

Read more of this story at Slashdot.

OpenAI is paying employees more than any major tech startup in history, with average stock-based compensation hitting roughly $1.5 million per worker in 2025. "That is more than seven times higher than the stock-based pay Google disclosed in 2003, before it filed for an initial public offering in 2004," reports the Wall Street Journal. "The $1.5 million is about 34 times the average employee compensation of 18 other large tech companies in the year before they went public." From the report: To keep its lead in the AI race, OpenAI is doling out massive stock compensation packages to top researchers and engineers, making them some of the richest employees in Silicon Valley. The equity awards are inflating the company's heavy operating losses and diluting existing shareholders at a rapid clip. As an AI arms race intensified this summer, frontier labs such as OpenAI faced pressure to increase employee pay after Meta Platforms Chief Executive Mark Zuckerberg began offering pay packages worth hundreds of millions of dollars -- and in some rare cases $1 billion -- to top executives and researchers at rival companies. Zuckerberg's recruiting blitz swept up 20-plus OpenAI personnel, including ChatGPT co-creator Shengjia Zhao. In August, OpenAI gave some of its research and engineering staff a one-time bonus, with some employees receiving millions of dollars, The Wall Street Journal previously reported. The financial data, shared with investors over the summer, shows that OpenAI's stock-based compensation was expected to increase by about $3 billion annually through 2030. The company recently told staff it would discontinue a policy that required employees to work at OpenAI for at least six months before their equity vests. That development could lead to further compensation increases. OpenAI's compensation as a percentage of revenue was set to reach 46% in 2025, the highest of any of the 18 companies except for Rivian, which didn't generate revenue the year before its IPO. Palantir's stock-based compensation equaled 33% of its revenue the year before its IPO in 2020, Google's was 15% and Facebook's was 6%, the analysis shows. On average, each company's stock-based compensation made up about 6% of revenue among tech companies the Journal analyzed in the year before their IPOs, according to the Equilar data.

Read more of this story at Slashdot.