I said I didn’t get the Costco hype. Then the superfans came at me.

• This post originally appeared in the BI Today newsletter.
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Welcome back to our Sunday edition, where we round up some of our top stories and take you inside our newsroom. One Big Tech worker earned $600,000 last year — but only half of that came from her main job. She made $302,000 from a side hustle she only spends five hours a week on.

Also, be sure to sign up for Business Insider’s upcoming markets newsletter First Trade, led by Joe Ciolli.

On the agenda today:

• BI’s Emily Stewart is starting to regret having an Amex Platinum card.
• Meet the most powerful Tesla executive you’ve never heard of.
• OpenAI launched its SaaS attack, and these companies are in the firing line.
• Pete Hegseth’s speech is another sign that workplace loyalty is dead.

But first: I read your Costco feedback.

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This week’s dispatch

A Costco revolt

In last Sunday’s newsletter, I confessed that I didn’t understand the whole Costco craze.

Sure, I anticipated some pushback. What I didn’t expect was an avalanche of reader emails in support of Costco. One called me “obviously overly privileged.” Another suggested I didn’t know how to shop for a family (for the record, I have two kids to feed!).

Yes, some readers agreed with me. But overall, Costco loyalists were eager to set the record straight: Shopping at Costco is an experience filled with great customer service, cost savings, and high-quality items. Cheap gas prices are a big plus, too.

Here are some reader responses, edited for length and clarity.

Costco has developed into a tribal entity. We belong to it; take pride in it, just as if it were a winning football team. We are faithful to it; we proselytize. Rather nicely, one of the characteristics of Costco is that it values our diversity, and serves it in multiple ways; so folks rarely feel excluded. — Philip Alan Rutter, 76, southeastern Minnesota

My husband and I have been members of Costco for 8 years. Before that, we had memberships to other variations, including Sam’s Club and BJs. The No. 1 reason for us having a membership is the gas prices. My husband has a 40-mile commute, one way 4x a week. The gas savings usually pay for the card. — Michele Fischer, 53, Newberry, SC

I was a member of Costco for several years. I canceled my membership when I came home yet again with way more “stuff” than I went for. I realized I just can’t afford to save that much money. — Bob Baron, 78, Charlotte, NC

As a former NYC resident, and current NJ resident, I appreciate Costco for what it is. Lifestyles are different in the city and suburbs. Costco has good quality products at great prices, be it $20 dress shirts or $100 beef. I have worn those $20 shirts for more than 3 years and still wearing it. Costco has its benefits, and drawbacks. But it has found a loyal market that no other company has been able to replicate. Costco is just different. — Ruchik Sadavrati, 52, Franklin Park, NJ

My wife and I have three small kids, and we live in a multigenerational home with my in-laws and my brother-in-law. Buying in bulk works well for us because that huge pack of chicken often provides dinner for all of us and the main portion of lunch for the kiddos the next day or two. It’s an even better deal for us to get snacks. Certain policies like DEI are very important to us, and Costco is one of the few that have stuck with it. — Zach Batton, 37, Pittsboro, NC

Agree or disagree with these takes? I’d love to hear from you. Please reach out at [email protected].

Platinum woes

The American Express Platinum card is hot. It’s also the most expensive credit card on the block, since Amex just announced it’s hiking the annual fee 29%, from $695 to $895.

Amex says its perks are now worth $3,500, but that only matters if you’re actually using them — and you might have to shift your spending habits to do so. For BI’s Emily Stewart, that meant spending more money than she normally would’ve at places she might not have otherwise shopped at.

Now, she’s rethinking the card.

Introducing Ashok Elluswamy

In 2014, Elluswamy joined the Autopilot team as a founding member. Now, as the team’s big boss, he’s front and center in Tesla’s most defining initiatives.

Despite his influence at the EV maker, there’s minimal reporting on Elluswamy. BI spoke with more than a dozen colleagues, friends, and former classmates of the executive to better understand his rise within Tesla.

He’s taking on Tesla’s self-driving gamble.

The shot heard around the software industry

OpenAI recently showcased new workplace applications in sales, support, and contract tools, and it quickly sparked concern about market competition in the software-as-a-service (SaaS) industry.

Software companies like DocuSign and HubSpot took hits on the stock market after the launch. The move could force companies to either partner with OpenAI or compete against its AI tools.

Friend or foe.

Also read:

• These are the most “AI-proof” software companies, according to analysts
• Is OpenAI the new Amazon? The ChatGPT maker keeps branching out and erasing market value from competitors.

21 guns for loyalty

Secretary of Defense Pete Hegseth had tough words for the military leaders he recently summoned to Washington, DC: Get on board with stricter standards, or get out.

It’s a message that’s already shaken corporate America. The military is famous for values not common in corporate America, like brotherhood and belonging — but Hegseth’s comments put less weight on those and more on performance metrics.

Hardcore hits the armed forces.

Also read:

• An online army is waging a culture war against US troops

This week’s quote:

“It’s hard to take out the king.”

— Jack Miller, president and CEO of T3 Sixty, on how difficult it is to bet against real estate behemoth Zillow.

How America’s trash is fueling toxic tofu in Indonesia

Despite Indonesia’s ban on plastic waste imports, the US continues to send millions of pounds of plastic to the country. Villagers are burning it to create tofu, contaminating the food with deadly toxins.

More of this week’s top reads:

• Sora 2 makes me realize the AI future really is here. It’s wonderful — and terrifying.
• The “stupidity” of 300 investment bankers tricked by a 20-something founder is a lesson in due diligence.
• “No driver, no hands, no clue”: San Bruno police officers were met with a first after pulling over a Waymo.
• Two top execs at Vanguard lay out their vision for quantum-powered investing.
• Exclusive: Meta Superintelligence Labs executives are pushing staff to ditch slow internal systems for faster engineering tools.
• Step inside Goldman Sachs’ Dallas office for 5,000 workers.
• This networking trick helps you skip the “cattle call” of applying for jobs.
• After a Reddit user took a dig at Harvey, Harvey’s CEO fired back — and brought receipts.

• Marissa Mayer’s shuttered photo app was just too beautiful for this cruel world.

  The BI Today team: Steve Russolillo, chief news editor, in New York. Lisa Ryan, executive editor, in New York. Dan DeFrancesco, deputy editor and anchor, in New York. Akin Oyedele, deputy editor, in New York. Grace Lett, editor, in New York. Amanda Yen, associate editor, in New York.

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