A devastating earthquake struck southern Taiwan on Saturday, killing at least 11 and injuring hundreds more.

Many of the people were killed after a 17-storey apartment building collapsed in the city of Tainan in the south of the island nation, which has a population of nearly 2 million.

The quake initially measured at 6.7 on the Richter scale but that figure was later revised to 6.4.

Taiwan lies in the “Pacific Ring of Fire” — the most seismically active area on Earth.

Reporters from Taiwan’s Formosa TV were quoted by Sky News as saying they could hear cries of help from inside one of the destroyed buildings.

The earthquake was initially reported as having a magnitude of 6.7. This was later downgraded to 6.4.

Taiwan lies in the "Pacific Ring of Fire"— where 90% of the planet's earthquakes occur.

The US labor market does not indicate that economic activity is about to collapse. 

On Friday, the January jobs report showed that the unemployment rate fell to 4.9%, the lowest since February 2008, while the economy added 151,000 jobs.

We also saw wage growth rise to a post-crisis high as average hourly earnings increased 2.5% and the labor-force participation rate improved.

And while there's still some slack left in the labor market the latest data confirm that the strongest part of the economy — the labor market — is doing more than just fine.

We think these nine charts from Deutsche Bank capture the state of the US labor market right now.

The number of people joining the labor force straight from the outside has been surging and is basically at a record high.

The amount of slack in the labor market has shrunk as most resources are being used.

Wage growth has been soft, but that's slowly changing.

In January, the European Commission dropped its yearly Flash Eurobarometer of quality of life in European cities, a huge survey of how happy people in hundreds of cities across Europe are.

The survey asks people to rank their satisfaction with everything from the sports facilities available in their area to how good the public transport system is.

We took the European Commission's data and chose those cities where the highest percentage of citizens said they were "very satisfied with the life they lead" and ranked them. In other words, we found out where in Europe people are happiest with their lives.

You might think that Europe's biggest, most vibrant metropolises like Paris, Rome, and London are where people enjoy life most, but in general it's actually smaller, less busy cities, where people are at their happiest.

Check out the list below.

19. Essen — 51% very satisfied, 42% satisfied. Citizens of the northwestern city, the ninth largest in Germany, are some of the most satisfied in Europe. Famous sites in the city include the botanical garden, and a huge outdoor pool, used during Germany's surprisingly hot summers.

18. Manchester — 52% very satisfied, 40% satisfied. A former industrial powerhouse, and the spiritual home of George Osborne's "Northern Powerhouse". Manchester's citizens are the third most satisfied people in Britain.

17. Amsterdam — 52% very satisfied, 41% satisfied. One of just a handful of capital cities on this list, Amsterdam is known for its beautiful canals, museums, and the fact that everyone rides a bike. Maybe that's why they're all so happy.

Apple released the first version of iOS, called iPhone OS, in 2007. It shipped on the original iPhone and was based on OS X, the operating system that runs on the Mac. 

Apps like Safari, Mail, and Messages were reminiscent of the Mac counterparts, giving the phone a PC-like feel. 

Over time, Apple has dramatically changed the way iOS looks, having introduced a slew of new apps and an entire redesign, which launched on the iPhone 5s in 2013. 

Here's what iOS looks like over time: 

iPhone OS 1

iPhone OS 1 launched alongside the original iPhone in 2007 and included Messages, Mail, Phone, Photos, Safari, and more.

However, it did not include iTunes or the App Store and the background was also unchangeable. 

The name — iPhone OS — was given to the operating system retrospectively. At its launch, Apple said the iPhone ran a version of OS X, the operating system that runs on Mac. 

iPhone OS 2

iPhone OS 2 launched alongside the iPhone 3G in 2008 and had a big addition: The App Store.

According to Apple, the App Store is now worth around $31 billion (£21 billion) per year and has 1.5 million apps and it all started on iPhone OS 2. 

Apple rolled out the SDK, the software developers use to make apps, alongside the iPhone 3G. 

iPhone OS 3

iPhone OS 3 launched with the iPhone 3GS in 2009 and had some new apps, including Compass and Voice Memos, both of which have persisted until today. 

The operating system was also the first to support copy-and-paste, a feature that many thought Apple had missed. 

The design remained much the same as versions 1 and 2, however. 

When choosing a career, it's important to seek out jobs that are meaningful and challenging, but a high salary doesn't hurt, either.

US News & World Report recently released its 2016 Best Jobs rankings, which determines the best occupations in the country based on median salary, employment rate, growth, job prospects, stress level, and work-life balance. You can read more about the methodology here.

The publication then ranked these coveted positions by pay, finding that, unsurprisingly, many of America's top jobs come with six-figure salaries. Positions in the healthcare sector dominated the list, with anesthesiologists claiming the top spot, followed by surgeons and oral and maxillofacial surgeons.

Read on to see the 20 best high-paying jobs in the US, with salary data included from the US Bureau of Labor Statistics:

SEE ALSO: The 50 richest people on earth

DON'T MISS: 17 of the highest-paying consulting firms for MBAs

20. Optometrist

Mean annual salary: $113,010

Projected growth (2014 to 2024): 27%

Optometrists diagnose and treat visual issues and eye conditions, such as glaucoma, as well as prescribe corrective lenses. To become an optometrist, individuals must complete a bachelor's degree and a four-year doctor of optometry program.

19. Business-operations manager

Mean annual salary: $117,200

Projected growth (2014 to 2024): N/A

Business-operations managers take care of the details that are vital to keeping a business running, including hiring new talent, negotiating contracts, making strategy decisions, and building and leading effective teams. The highest-paying cities for this job are Bridgeport, Connecticut, New York City, and Trenton, New Jersey.

18. Pharmacist

Mean annual salary: $118,470

Projected growth (2014 to 2024): 3%

Imperative to the healthcare industry, pharmacists not only fill prescriptions, but also educate patients on the potential side effects of their medications, teach them how to handle side effects, and monitor which prescriptions each patient is taking to prevent mixing incompatible drugs.

Right now, NASA's Curiosity Mars rover is doing something exciting: shoveling sand.

In December, the rover reached a new territory called Bagnold Dunes, which is rich with one of Mars' most iconic landscapes: dunes.

The Bagnold Dunes are on the northwestern flank of Mount Sharp, a mountain at the center of Gale Crater.

Now, the rover is scooping up samples of the grains and offering an unprecedented view and examination of what they're made of.

Check out some of the amazing pictures Curiosity is sending back:

SEE ALSO: We're on a collision course with the Andromeda Galaxy — here's what will happen to Earth

DON'T MISS: Neil deGrasse Tyson's favorite science joke will make you smarter

This is Curiosity's latest selfie in Bagnold Dunes, composed of 57 different photos captured on January 19. To test the sands, the rover recently dug one of its 20-inch wheels into a nearby dune. You can see the tire marks in the center.

Notice how the landscape contrasts with the rocky terrain at the "Big Sky" site that Curiosity crossed in October.

For years, scientists knew from satellite images that Mars had a surprisingly active climate that could shift sand dunes. Now, Curiosity is in the middle of the Bagnold Dunes territory (below), which has dunes that move up to 3 feet every Earth year.

The Super Bowl is the most-watched television event in the US, which means whoever performs during the halftime show is playing the biggest stage in the country.

Which makes the stakes of that short burst of entertainment relatively colossal. 

The modern Super Bowl halftime show as we know it started in 1991 with New Kids on the Block (previous shows featured a theme with marching bands and various performance groups), and it's stayed relatively consistent since: A pop star (or stars) takes over the field with props, backup dancers, probably pyrotechnics, and possibly even a live band, and goes through a rundown of their hits in a handful of minutes.

But the quality and tone of the shows have been all over the map, from the save-the-world vibe of early years with NKOTB and Michael Jackson, to Janet Jackson's Nipplegate and Katy Perry's campy Left Shark.

We revisited all the halftime shows since 1991 and ranked the very best: 

SEE ALSO: The best shows to binge-watch right now according to TV stars

5. Stevie Wonder, Gloria Estefan, and Big Bad Voodoo Daddy (1999)

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Stevie Wonder, Gloria Estefan, and Big Bad Voodoo Daddy? Eclectic, sure, but that was the point. They’ve all had long, consistent careers because they’re consummate professionals, which is what defines this show. Wonder and Estefan give some of the best live singing the game has seen. And you could do worse for backup than Voodoo Daddy and jitterbug and salsa dancers sprinkled throughout the field. This is one joyous party.

4. Bruno Mars and Red Hot Chili Peppers (2014)

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Bruno Mars started out by impressively whaling on the drums, then broke into his hit "Locked Out of Heaven," and the rest was history. Mars threw the crowd a curveball when he rocked out with the Red Hot Chili Peppers" for a collaboration featuring their song "Give It Away." Even non-fans had to love it. The combination of his Temptations-inspired attire and polarizing voice created a performance for the books.

3. Michael Jackson (1993)

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As he did with his music videos, Michael Jackson brought cinematic showmanship to his Super Bowl halftime show, and just the right amount of corniness, including MJ decoys popping out of Jumbotrons. He also knew how to hold a pose for just long enough (which is a pretty long time, turns out). Michael Jackson was one of our greatest entertainers, and he delivered.

Now please enjoy this GIF of "Michael Jackson""popping out" of a Jumbotron:

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If we're ever going to see astronauts living on Mars like we did in the 2015 film "The Martian," the groundwork for such a mission will come from an unusual facility in Southern California.

Just five miles north of Pasadena, NASA's Jet Propulsion Center (JPL) is where researchers dream up and build spacecraft to explore space from millions of miles away — including wheeled rovers that take photos from the Martian surface:

Tech Insider recently took a tour of JPL, which is about a 15-minute drive from the California Institute of Technology (Caltech for short).

Here's what we saw.

NASA's Jet Propulsion Laboratory is just 5 miles north of downtown Pasadena, California, close to the San Gabriel Mountains.

It's a massive, 177-acre facility that rivals most college campuses. In fact, it's 17 acres larger than Disneyland.

Source: JustDisney.com

An apt comparison, since this is kind of like the Disneyland of space exploration. Let's head inside.

At 45, Ajay Gupta has plenty to brag about. As the founder and chief executive of Gupta Wealth Management (GWM), his firm controls more than $1 billion in assets for high net-worth individuals. Since 2014, he's grown his client base by more than 100% — thanks in large part to his all-star client, Tony Robbins.

Robbins included a shout out to GWM in his best-selling book, "MONEY: Master the Game." In one chapter, the top life and business strategist lays out the difference between a traditional broker and the more attractive fiduciary standard. He describes Gupta's trajectory as a Merill Lynch escapee-turned-entrepreneur.

In the months that followed, Gupta tells me, he began attracting more clients than ever before. "A large portion of the growth came because of that transfer of trust," he said. While the average profile of a client with his firm remains the same (the minimum amount that one can invest with GWM is $1 million, for a maximum fee of one percent), he notes that he's also seen an influx of younger Millennial investors.

Gupta also borrowed an investment strategy from hedge-fund billionaire Ray Dalio, one of Robbins's interviewees. By poring over the taped conversation, he adopted a policy that "smoothes out" the volatility of his own client assets: First, he builds a portfolio for each economic "season" (periods of high earnings, low earnings, high inflation, and low inflation), and puts 25% of a client's risk in each.

No matter their age, he says there's plenty that entrepreneurs can do to stay financially safe and continue accruing funds to last.

Here are his top five tips to saving big, and making it last:

SEE ALSO: Here's what Warren Buffett said when Tony Robbins asked him how he got so rich

1. Avoid the three destroyers of wealth.

There are three major "destroyers" of wealth, says Gupta, and they are alarmingly simple: Fees, taxes, and emotional decisions.

"Intuitively, without emotions being involved, you could say that when things are down, I buy more," he explained. "When things are up, I sell." Unfortunately, he acknowledges most people aren't set up to be good investors.

At Gupta's firm, investors can minimize the toll of taxes by diversifying their portfolios with real estate investments. "When you own real estate, you're leveraging inflation," he said. "The majority of the income you'd receive is sheltered from taxes because you're benefiting from depreciation." 

2. Don't put everything into your business. It could fail.

Entrepreneurs are already taking on an inordinate amount of risk, so Gupta advises against putting all your equity into a new startup. "One of the biggest mistakes entrepreneurs make is they put everything into their business," Gupta said. "Pay yourself first." 

3. Pick a solid, cheap 401(k) plan.

Gupta emphasized the importance of picking a low-cost 401(k) plan for your employees — especially since business owners are the fiduciaries of those plans.

Unfortunately, the majority of 401(k) plans are extremely expensive, so it's important to identify the low-cost funds first.

Gupta is particularly impressed by Vanguard's 401(k) tool. At his firm, he chose America's Best 401(k.) 

4. Once the money comes in, don't make any impulsive decisions.

Entrepreneurs who've sold companies for millions (or even billions) are often tempted to reinvest their earnings elsewhere. Still, it's important not to take on too much too quickly.

"Take a step back, and sit down with a fiduciary again," says Gupta.

If it's a substantial amount of wealth, he suggests dividing it into two buckets: Your operating budget for the rest of your life, and the bucket where you put a "100-year" plan together.

5. If possible, keep it hush-hush. 

Of course, Gupta acknowledges that entrepreneurs are typically "lifelong" business owners who are eager to lend funds to friends when they can — or, often to start new companies. Still, he says it's a good idea to keep your wealth under the radar for some time.

"In this day and age, people will find out," he concedes. "But if you don't tell anyone, less people will come asking you for money." 

Read the original article on Inc.. Copyright 2016. Follow Inc. on Twitter.

Becoming an Olympic-caliber athlete takes a calculated approach to training and recovery.

And sleep is one of the most important parts of that equation. But don't take our word for it.

We spoke to a handful of decorated Olympians to find out how they used sleep to boost their performance.

Optimizing rest, we discovered, requires the usual dose of dedication and sacrifice that defines all top-tier athletes, and comes with its fair share of obstacles (constantly acclimating to new time zones, expecting to be on your A-game as soon as you wake up).

But it's essential to staying in peak mental and physical shape. And without learning how to harness sleep, they never would've made their trips to the podium.

Here's how they use sleep to gain an edge — and their advice for how you can do the same.

SEE ALSO: Here's what you should do if you wake up before your alarm and don't want to feel tired all day

CHECK OUT: What too little sleep does to your brain and body

1. Travis Ganong, Alpine ski racer

About: Ganong has been charging snow-covered slopes on the World Cup circuit since 2010 and he made his first Olympic appearance 2014 for the Sochi, games where he scored fifth place in the men’s downhill.

Sleep Schedule:“Midwinter when I’m traveling and during a competition week, I try to get a minimum of eight hours before a competition day. When I go to bed and when I wake up all depends on my schedule for the next day, but when we’re training super early before the sun rises, I go to bed early.

“Naps are very important in the summer for me when I’m putting in big conditioning blocks. We do double sessions all summer usually starting in the gym in the morning, then a big cardio workout in the afternoon. After the morning lift, I try and squeeze in a nap as often as possible. It’s good to shut down after a tough session.”

Words of Wisdom:“Feeling rested and ready is so important, not just physically but mentally. As a ski racer, we face so many variables, be it wind, fog, snow conditions or deteriorating snow surface, and sleep is a variable that you can control as an athlete. Also, during big competitions there are usually crowds there to support me, but they are also there to party and listen to loud music late into the night. I’ve learned to minimize this problem by always sleeping with earplugs.” 

On Achieving Quality Rest: “If I’m on my phone looking at a screen just before bed, I have trouble falling asleep so I try to avoid that. Also traveling with an eye mask can help and taking some melatonin before big days to help me find a peaceful sleep. Otherwise I find myself thinking too much about the next day and tossing and turning. These are all things that can become a part of your routine as an athlete that can help you maximize your performance.

When I first arrive in a new country I try and get onto the correct time as soon as possible by forcing myself to stay awake until it’s a reasonable time in that location, regardless of my internal clock.”

2. Phil Dalhausser, Beach volleyball player

About: Dalhausser, a two-time Olympian, won Olympic gold at the 2008 Beijing Games, alongside his partner Todd Rogers, and was awarded most outstanding player.

Sleep Schedule: “My sleep is usually all over the place when I’m competing because I’m often overseas and I’m jet lagged. I usually go to bed around 11 p.m. and shoot to sleep until 8 a.m. but that often doesn’t happen. Most of the time I’m up earlier than that. I’ll take a nap if I didn’t sleep well the night before." 

Words of Wisdom About Sleep: “When I sleep well my mind is sharp and it’s easy to focus. On a bad night’s sleep my brain feels foggy and I have a tough time focusing. Sleep is very important for muscle recovery. I find that if I’m not sleeping well I tend to be a little more sore the next day.”

His Pre-Bed Routine: “I drink a protein shake before I go to bed and it seems to help me sleep. Also, when I travel I take melatonin the first two or three nights to help reset my internal sleep clock.”

3. Shannon Miller, Former gymnast

About: Miller, a member of the 1996 gold-medal-winning Magnificent Seven American Olympic team, won seven Olympic medals over the course of her decorated career. 

Sleep Schedule: “During competition and training, I made sure to get at least eight hours of sleep and more whenever possible. I typically went to bed around 9:30 or 10 p.m. and woke up around 7:30 a.m.. I definitely took naps. I pretty much took a nap every day from the time I started intensive training to the time I retired, which was about a decade.

While traveling, it was important to get even more sleep. I was a pro at it. People would find me catching a power nap in all sorts of places on a bus or plane and even in the splits. I learned early on that sleeping was just as important to my training as conditioning, stretching, and skills. I had to give my body and my mind time to recover.” 

Words of Wisdom About Sleep: “I could definitely feel a difference in my training when I wasn’t getting enough sleep. Without proper sleep, I wasn’t able to think as quickly or clearly, which is critical when you’re flying through the air upside down.

And just like everyone else, lack of sleep makes me a little irritable. When you get a great night’s sleep or even just a really good catnap, you become more productive and energized. A bad night’s sleep or a pattern of a lack of sleep can certainly affect your performance whether it’s in training or at a major competition. You need to be on your game, which means you need to be well rested and have given your body enough time and ability to heal. I feel like good sleep is about more than just one night. You have to have it on a consistent basis to truly reap the benefits.”

On Pre-Competition Jitters:“I typically slept pretty well before a competition. I usually spent the day before doing a double workout, so I was ready to hit the sack. I had a little ritual where I would go through the next day’s competition in my head, event by event, and see myself doing each routine as perfectly as I could. Once I finished, I could say my prayers and fall asleep with no problem. It helped me feel like I squeezed in that last little bit of training.”

Anyone who plays pro football knows he won't play forever, so players need to have post-football career plans in mind.

For some, finance is perfect. It's cutthroat and hypercompetitive, and it takes discipline to put in all those long hours.

So it should come as no surprise that a bunch of former football stars are working in trading, investment banking, and wealth management.

We've compiled a list of some of the best football players in finance. Many played professionally; others were college standouts. Some did internships at investment banks during the off-season while playing in the NFL. One even has a Super Bowl ring!

If we're missing any big names, email a bio and photo to jlaroche@businessinsider.com.

Former NFL wide receiver Wayne Chrebet now works at Stifel.

Finance Job: He's part of a six-person wealth-management team at Stifel with $2 billion in assets led by Ed Moldaver.

School: Hofstra University (c/o 1995)

Position: wide receiver

Pro Team: New York Jets

Highlights: Chrebet played 11 seasons for the Jets. He set the NFL record for receptions in a wide receiver's first two seasons. During his NFL career, he had 580 receptions and 41 touchdowns.

Investor Jack Brewer was the captain of three NFL teams.

Finance Job: Jack Brewer is the CEO of his namesake investment firm, The Brewer Group.

School: University of Minnesota and Executive Business Programs at Harvard School of Business (2005) and the Wharton School of Business (2006).

Position: safety

Pro Team(s): Minnesota Vikings, Philadelphia Eagles, New York Giants, and Arizona Cardinals

Highlights: He was the captain of three NFL teams.

Brad Daluiso, who works at Morgan Stanley, played in the NFL for 11 seasons.

Finance Job: He works at Morgan Stanley in San Diego, Finra records show.

School: UCLA

Position: kicker

Pro Teams: Atlanta Falcons, Buffalo Bills, Denver Broncos, New York Giants, and the Oakland Raiders

Highlights: He played in two Super Bowls: XXVI for the Bills and XXXV for the Giants.

I activated my Amazon Echo for the first time in December. It's quickly become one of my favorite tech gadgets ever.

Most people compare Echo to virtual assistants like Siri and Google Now. But Amazon's speaker, which responds to either "Alexa" or "Amazon," is quicker to respond and understands commands much better than those rival services.

And thanks to its excellent audio system, with seven microphones for listening and a 360º omni-directional audio grille for speaking, Amazon Echo works exceedingly well wherever I am in my home. I can hear it — and it can hear me — perfectly.

Amazon Echo has completely transformed the way I live in my apartment. There's just so much you can do with Echo. Take a look.

"Alexa, what time is it?"

Don't bother searching for your phone or a wall clock just to get the time. With Echo, just ask the time from anywhere in your house and get the answer immediately. It's a small thing, but it totally makes a difference when you're rushing in the morning.

"Alexa, play some Kanye."

Amazon Echo can play thousands of songs from Amazon's Prime Music catalogue. And compared to other virtual assistants that control music playback, Alexa takes less time to hear your commands and act on them, pausing, skipping and changing songs.

"Alexa, ask Uber to request a ride."

As of February, you can now request an Uber car to pick you up from your residence just by asking Echo to request a ride. Once you activate the Uber skill in the Alexa app, your Echo will let you know how far away the closest car is, and it'll even let you know if there's surge pricing before you accept the ride.

Microsoft sold 4.5 million smartphones last quarter, a decrease of around 50% from the previous year. In the same period, Apple sold 75 million smartphones, an increase over the year before that. 

It's safe to say that Microsoft's smartphone strategy is in trouble and it's not clear what the company plans to do about it. 

CEO Satya Nadella has argued that the lack of sales doesn't really matter as devices are now "nodes." What does matter, according to Nadella, is that people use Microsoft services elsewhere, such as on an iPhone. 

This may be true — and it could be the guiding philosophy for the recent slew of iPhone and Android apps — but it doesn't solve the problem of Microsoft's smartphone hardware business which continues to make phones, spend money, and sell very little. 

Here are Microsoft's options: 

Option 1: Kill the project altogether.

According to IDC, Microsoft has shrunk the market share of Windows-based phones from 3.1% to 2.6% since 2012. In the same period, Google has grown its Android market shares by 13%. It's clear that something is wrong. 

The nuclear option for Microsoft would be to kill Windows Phone, stop selling Lumia handsets, and focus on making apps for iPhone and Android. 

It's unclear how much it costs Microsoft to develop and manufacture Lumia devices, but the resources — of both time and money — could be allocated elsewhere, such as the Surface teams, which grew revenue by 29% to $1.4 billion (£950 million) in the past three months. 

Microsoft has not killed the operating system yet and things have been bad for a while. Instead, the company has worked to close the "app gap"— where developers don't want to make Windows apps, leaving the Store bare — by merging it with Windows 10. 

Option 2: Focus on business customers.

The one place that Microsoft is seeing some success is businesses, due to the close integration with Microsoft services (such as Office) and Windows 10.

Features such as Continuum, which lets users plug the phone into a Display Dock and use it like a PC, are useful in the workplace, and the company could aim to capture this market. 

The Lumia brand, however, has very little mindshare among businesses. Luckily, Microsoft has Surface which does, and the rumours that the "last Lumia" is coming soon suggest the company will transition its high-end phones away form Nokia's brand to its own Surface brand. 

Option 3: Carry on as before.

It has been clear for a while that Windows Phone was not going to be a massive success. The operating system never went above 10% market share in major market (besides Britain) and has since decreased to low single-digit figures. 

Despite this, Microsoft has continued to work on the operating system, pushing out updates and new handsets. 

Last quarter, Microsoft made around $12 billion (£8.4 billion) from its business-focused services and so it could afford to ignore the problem and continue as before. 

Becoming an entrepreneur seems like it would be pretty simple. Not easy, but simple enough, right? What else do you need besides a good idea and a bit of money? A lot, it turns out.

So just what does it take to be an entrepreneur? It turns out that the skillset required to be an entrepreneur is similar to most business skillsets — it requires excellent analytic capacities as well as an understanding of how organizations and economies work.

But the most important thing is the ability to appreciate and evaluate risk.

Just what does it mean to be able to evaluate risk? Today, we'll look at skills possessed by many entrepreneurs, and explain how risk assessment fits into each one. Sound like a risk you're willing to take? Read on.

SEE ALSO: 25 books that every entrepreneur should read

They look for smart money

Most people consider starting their own business at some point in their life, be it mowing lawns or building a new tech company from the ground up. They might seem very different, but all business ideas have one thing in common: Start-ups need capital to get started.

For most entrepreneurs, this means finding an investor. And if they're lucky, they'll find an angel investor.

Unfortunately, the primary goal of many entrepreneurs is securing funds as quickly as possible. In their haste, they often strike a deal with the first investor that comes their way — this is not smart money.

Risk factor: If you're able to properly assess risk, you'll feel confident passing over risky investors while you wait for an investor whose skills, connections, and resources fit your company.

They have an exit plan

One of the best ways to impress an investor is to show that you're already thinking about an exit plan. There are two exit strategies for start-ups: being bought by a bigger company or going public. It's important to keep in mind that it's extremely rare for a young company to go public.

So effectively, having an exit strategy means that you've already found a target company that could be interested in purchasing your start-up, and that you've created the conditions necessary for the acquisition to take place, such as having transparent and organized financial records.

For an investor, an exit strategy is one of the primary reasons to invest in your start-up in the first place! Just like you, investors are in the game to make money. Thus it's natural for them to want a clear exit strategy from the start as proof that you're taking their interests into account as well.

Risk factor: Minimize risk perception for your investors by showing you've planned for your company's future.

They understand expected value

Entrepreneurs deal directly with visible risks. They may not make an immediate profit, but they acquire skills and create systems and can change them if they don't produce the desired results.

In other words, they enjoy unlimited control and unlimited variables, and the possibility for growth is vast. Most of the entrepreneurs the author talked with would actually be disappointed with a growth rate of 20 percent per annum.

Much like poker players, entrepreneurs understand the concept of expected value. This is the average value in a series of repetitions of a random variable.

Say you're playing a hand in a poker game and it'll cost you $1,000 to view the final card. You know there's a 20 percent chance you'll win $20,000 for the whole hand. So you're coughing up $1,000 for an expected value of $4,000, which is 20 percent of $20,000. If you place this bet enough times, you're guaranteed to come out on top. It's no surprise, then, that many poker players end up being entrepreneurs.

Risk factor: expected value is just a fancy way of quantifying risk. It can help you with everything from buying used cars to buying lottery tickets.

We recently released our list of the 50 richest people on earth based on data from Wealth-X, which conducts research on the super-wealthy. Many of the billionaires on the list came from humble beginnings and built huge empires from next to nothing.

Others were born into money.

To find the wealthiest people in the world, Wealth-X looked at its database of dossiers on more than 110,000 ultra-high-net-worth people and used a proprietary valuation model that takes into account each person's assets, then adjusts estimated net worth to account for currency-exchange rates, local taxes, savings rates, investment performance, and other factors. We narrowed that list down to just the billionaires who inherited at least part of their wealth.

Some built upon their inherited fortune to create companies that far exceed those of their parents or spouses — like the Koch Brothers or L'Oreal's Liliane Bettencourt — while others, such as the Mars siblings, haven't actively expanded the family business. 

Here are the 16 richest heirs and heiresses in the world.

16. Laurene Powell Jobs

Net worth:$14.4 billion

Age: 52

Country: US

Industry: Media

The widow of Apple cofounder Steve Jobs, Laurene Powell Jobs inherited his wealth and assets, which included 5.5 million shares of Apple stock and a 7.3% stake in The Walt Disney Co., upon his death. Jobs' stake in Disney — which has nearly tripled in value since her husband's death in 2011 and comprises more than $12 billion of her net worth — makes her the company's largest individual shareholder.

Though she's best recognized through her iconic husband, Jobs has had a career of her own. She worked on Wall Street for Merrill Lynch and Goldman Sachs before earning her MBA at Stanford in 1991, after which she married her late husband and started organic-foods company Terravera. But she's been primarily preoccupied with philanthropic ventures, with a particular focus on education. In 1997, she founded College Track, an after-school program that helps low-income students prepare for and enroll in college, and in September she committed $50 million to a new project called XQ: The Super School Project, which aims to revamp the high-school curriculum and experience.

Last October, Jobs spoke out against "Steve Jobs," Aaron Sorkin's movie about her late husband that portrays him in a harsh light, calling it "fiction." Jobs had been against the project from the get-go, reportedly calling Leonardo DiCaprio and Christian Bale to ask them to decline roles in the film.

15. Azim Premji

Net worth:$16.5 billion

Age: 70

Country: India

Industry: Technology

In 1966, 21-year-old Azim Premji dropped out of Stanford in the wake of his father's death to take the helm of his father's company Western India Vegetable Products — later renamed Wipro. It was under Premji's leadership that the company diversified into toiletries and bath products and, eventually, IT, and the company grew exponentially. Now India's third-largest IT giant, Wipro generated revenues of $7.6 billion in its most recent fiscal year.

Just days into the new year, Premji named Abidali Neemuchwala, a Dallas-based consultancy executive, the new CEO of Wipro, citing him as the best leader to take Wipro into "its next phase of growth." Neemuchwala had been brought on to Wipro as chief operating officer last April after years of working for rival Tata Consultancy Services.

Premji is known for his generosity. He signed the Giving Pledge, committing to donate at least half of his wealth to charity, and in 2015 was named "the most generous Indian" on the Hurun India Philanthropy list for the third year in a row.

14. Dieter Schwarz

Net worth:$20.9 billion

Age: 76

Country: Germany

Industry: Retail

Dieter Schwarz joined his father's food-wholesaling business in 1973 and opened the company's first discount supermarket shortly thereafter. He took over as CEO when his father died in 1977 and rapidly expanded the business outside Germany, rebranding the company as Schwarz Gruppe.

The parent company umbrellas Lidl, a successful grocery-store chain and the second largest in Germany behind Aldi, and Kaufland, a chain of "hypermarket" stores similar to Walmart. Lidl has nearly 10,000 stores across 26 European countries and is set to break ground on US soil in 2018. Schwarz Gruppe now pulls in $85 billion in annual sales.

The German billionaire lives a quiet life out of the spotlight with his wife and two kids in their hometown of Heilbronn. He's reportedly a generous donor to educational causes.

A selection of photos from some of this week's biggest news that you might have missed.

Martin Shkreli, former CEO of Turing Pharmaceuticals LLC., smiles while flanked by Nancy Retzlaff, chief commercial officer for Turing Pharmaceuticals LLC., during a House Oversight and Government Reform Committee hearing on Capitol Hill, February 4, 2016 in Washington, DC.

A health worker carries out fumigation as part of preventive measures against the Zika virus and other mosquito-borne diseases at the cemetery of Carabayllo on the outskirts of Lima, Peru on February 1st.

A patient from the Nise de Silveira mental health institute dances in costume during the institute's carnival parade, called in Portuguese: "Loucura Suburbana," or Suburban Madness, in the streets of Rio de Janeiro, Brazil, Thursday, Feb. 4, 2016.

NFL games are a huge adrenaline rush, whether you're watching them at the stadium, at a sports bar, or in the comfort of your own living room.

Thousands of people get to watch from the stands, and generally millions of people are tuning in on TV, but only a handful get to experience all the action from the sidelines. 

One of those special few is Getty Images photographer Maddie Meyer, who has photographed more than 30 NFL games.

She started in 2013 as an intern for Getty Images, photographing a season for the Jets and the Giants — and in 2015 spent an entire season photographing the New England Patriots. 

We spoke with Meyer about her up-close-and-personal experience with NFL stars, and how her access gets her closer to the tense emotions.

SEE ALSO: SUPER BOWL 50: Our official picks for who will win Sunday's big game

Being a Getty Images photographer for the NFL means Meyer gets to be around some major NFL heavy-hitters, including Tom Brady, Peyton Manning, and many more.

In order to properly cover a game, Meyer needs to observe each player's emotions, as well as their on-the-field rituals.

"Getting to know each players’ habits is a huge help — like getting into position before Tom Brady makes his pregame entrance to Jay-Z's 'Public Service Announcement,'" Meyer said.

When Elon Musk was 17, he lived off a dollar a day for a month to see if he had what it takes to be an entrepreneur.

He explained the experiment to astrophysicist Neil deGrasse Tyson in an episode of Tyson's StarTalk Radio podcast:

In America it's pretty easy to keep yourself alive. So my threshold for existing was pretty low. I figured I could be in some dingy apartment with my computer and be okay, and not starve.

In fact, when I first came to North America — I was in Canada when I was 17 — and just to sort of see what it takes to live, I tried to live on $1 a day, which I was able to do. You sort of just buy food in bulk at the supermarket ... I was like, "Oh, okay. If I can live for a dollar a day — at least from a food-cost standpoint — it's pretty easy to earn $30 in a month, so I'll probably be okay.

I decided to replicate the challenge this past month. I adjusted for inflation — $1 in 1988, when Musk was 17, is the equivalent $2 today — and set aside $62 for the 31-day month of January.

Musk lived off mostly hot dogs and oranges, occasionally mixing in pasta and jarred tomato sauce. I bought mostly bananas, pasta, and peanut butter and would switch it up with the occasional fried egg or sweet potato.

I reached out to Musk after completing the challenge. "That's great, although I would not encourage anyone to live on $1 a day," he wrote me in an email. "That would not be super fun. Also, I did this back in 1990, so a dollar went a lot further back then. Would be much harder to do that today."

(Yes, I realize he just said 1990, but I did the entire month based on the value of a 1988 dollar, and I'm not about to re-do it ... so bear with me. The point still stands.)

Thirty-one days, 14 bags of pasta, six jars of peanut butter, and too many bananas to count later, I completed the "Elon Musk Challenge" with $1.07 to spare. Here's what it was like:

SEE ALSO: I spent only $4 a day on food for a week — and it was grueling

I set aside exactly $62 the evening of December 31 and established a few guidelines for the month-long challenge:

1. No office snacks. If I'm emulating the lifestyle of a struggling entrepreneur, I probably cannot rely on an office stocked with snacks.

2. No "rollover" food. I decided not to eat any food that I bought prior to January 2016.

3. I CAN accept food from other people or any freebies. I wouldn't be actively seeking out free food or asking friends and family to buy me anything — the point of the challenge was not to see how much free food I could accumulate in a month — but if I came across free samples or if someone (outside of my office) offered me a snack or meal, it was fair game.

4. I can spend more than the allotted $2 on any given day. I just can't exceed the $62 over the course of the month. Some days I would spend $8 at the grocery store for supplies that would last several days, while other days, I spent nothing.

5. One cup of coffee per day. For productivity reasons, I did allow myself one cup of coffee from the office Keurig machine each morning. After struggling with caffeine headaches while completing the food-stamp challenge last year, I learned that a cup of coffee would be essential if I wanted a chance at being productive during the work day.

My "strategy" the first couple of days was simply to buy the cheapest food I knew of — pasta and oats — and eat my supplies as I got hungry.

Pictured above are the groceries from my first shopping trip at Trader Joe's.

In terms of flavor, for the first couple of days, there was none. I had accepted at the beginning of the challenge that everything was going to be considerably bland, and I assumed I wouldn't be able to afford much more than pasta and oats.

It only took one traumatizing treadmill run and a series of leg cramps to realize I would need a more concrete plan (and protein) if I had any chance of completing the challenge.

I started by adding a good source of protein — peanut butter — to my pile of loot, tortilla to accompany the peanut butter, and bananas for a bit of potassium.

Winning the best picture Oscar at the Academy Awards doesn't just say that a movie is regarded by Hollywood as the top achievement in the medium for the year; it cements a movie with past winners that have gone on to become classics such as "The Godfather,""Lawrence of Arabia," and "On the Waterfront."

But the Academy voters don't always get it right. Tucked away in the 89 years of Oscar ceremonies are best picture winners that quickly vanish from the zeitgeist, never to be heard from again. That's often because they weren't as good as originally thought.

Here we look back on the 10 most disappointing best picture winners and choose the nominees that should have won:

SEE ALSO: RANKED: The 12 greatest movies to win the best picture Oscar

10. "Around the World in 80 Days" (1956)

Based on the Jules Verne novel, this film used all of Hollywood's resources (a $6 million budget in the 1950s was far from cheap) to create a sprawling look at the world, but the story of a super-rich English gentleman Phileas Fogg (David Niven) who attempts to win his wager to navigate the globe is silly and far from memorable. 

SHOULD HAVE WON: "The Ten Commandments"

Cecil B. DeMille's final directing effort still holds strong today. With its all-star cast, particularly the incredible performance by Charlton Heston as Moses (he didn't even get an Oscar nomination for the role), and its remarkable effects for that era, it's a movie that should have been recognized with the top prize.  

9. "Ordinary People" (1980)

The late 1970s and early 1980s were when the melodrama was at its zenith in movie theaters, and "Ordinary People" came around at the perfect time. The film didn't just win best picture — it also achieved best director for Robert Redford and best actor for Timothy Hutton. Granted, the film has explosive performances in it, but there needs to be more than great acting to win best picture.

Young investors are getting it all wrong.

Swiss bank UBS polled 1,117 millennials and Gen X investors in December as part of its regular Investor Watch report and asked them a bunch of questions about investing. 

UBS defined millennials as between 21 and 37 years of age. Those in the survey aged between 21 and 29 had at least $75,000 in household income or $50,000 in investable assets, while those aged between 30 and 37 had at least $100,000 in household income or $100,000 in investable assets. 

Overall, millennials had the most regret about the financial crisis. Millennials were also much more likely to say they trusted "their gut" and that investing is all about market timing and to hold a big chunk of their portfolio in cash.

In short, they regret selling when they did and not buying when they could have. They also "failed to learn the same lessons as other generations" from the crisis, according to UBS, which is to buy and hold. Millennials are the least likely to stick to an investment plan, and while they are most likely to say they will take on risk, they actually take on the least.  

You can read some of what Business Insider has written about investing in your 20s and 30s here and here. The general consensus is that buying and holding stocks for the long term tends to work out, and that it makes sense to have higher risk exposures (think equities) in your younger years. 

Jim Cramer, host of CNBC's "Mad Money," has said that young investors should put the first $10,000 of their savings in index funds, for example. 

Here are the findings: 

Millennials have the most regrets following the financial crisis

The buy-and-hold approach is less popular with these millennial investors, who are much more likely to think "market timing" is key.

Millennials hold twice as much cash as other generations, despite the fact that, given their age, they can afford to take investment risk.