• Nvidia vice president Laura Fay has retired after a decade at the company.
• Fay grew Nvidia's enterprise marketing team from roughly 60 to 600 employees.
• Nvidia brought in Google Cloud's Alison Wagonfeld as its first chief marketing officer this year.

Laura Fay, a longtime Nvidia marketing executive who reported to CEO Jensen Huang, retired in July after roughly a decade at the AI chip giant.

Fay formerly served as Nvidia's vice president of global enterprise marketing, overseeing campaigns, events, analyst relations, and partner marketing. She said her team grew from roughly 60 to 600 people by the time she left.

Fay was among 36 employees on an internal list obtained by Business Insider last year of company leaders reporting directly to Huang. Prior to joining Nvidia, she spent 22 years at Cisco, concluding her tenure there as VP of global marketing.

Fay said Huang recruited her to build Nvidia's enterprise marketing organization as the company looked to expand beyond gaming.

"I want to change the world, and I want you to change it with me," she recalled him telling her on their first call.

Fay said she began considering retirement around her 10th anniversary in January, though a call from Huang congratulating her and expressing hope that she'd stick around for another decade persuaded her to stay a little longer.

Nvidia declined to comment.

Fay's retirement came as Nvidia also brought in new marketing leadership. In February, the company hired Google Cloud executive Alison Wagonfeld as its first chief marketing officer.

The Wall Street Journal reported at the time that Wagonfeld would oversee all marketing and communications teams and assume responsibilities previously divided among several leaders.

Those changes follow another longtime marketing departure. Greg Estes, Nvidia's former vice president of corporate marketing and developer programs, retired in 2025 after roughly 15 years at the company.

Several other longtime Nvidians have retired this year, including sales chief Jay Puri, chief accounting officer Donald Robertson, and VP of hardware engineering Robert Huang. Some retirees told Business Insider that Nvidia's exponential stock run helped precipitate their decisions.

Nvidia's communications organization has also undergone a shake-up as scrutiny around the company has intensified, with roughly 15 employees departing since 2025 amid a reorganization under new leadership.

Have a tip? Contact this reporter via email at gweiss@businessinsider.com or Signal at @geoffweiss.25. Use a personal email address, a non-work WiFi network, and a non-work device; here's our guide to sharing information securely.

A hot, new beauty treatment driving tens of millions of dollars in sales around the globe is now aiming for the US market. Its unusual ingredient: skin from dead Americans.

Each year, tens of thousands of Americans donate bodily tissue upon their deaths, generally by checking a box at a motor vehicle department or through an authorization made by a loved one. Over the past few years, tens of millions of dollars' worth of donated skin has traveled from American tissue banks to biotech companies in South Korea, the beauty capital of the world. There, among other uses, it is turned into injectable beauty treatments.

The maker of the market-leading Korean brand said last week it has signed a distribution contract to introduce its skin-derived injection to the US market next year. It isn't clear whether the product can be sold in the US without approval from federal regulators.

Business Insider traced the tissue supply chain to understand how donor tissue from, say, San Antonio can end up for sale at a clinic in Seoul — and how much money is being made along the way.

People who donate tissue "have no idea of how much money is changing hands in the course of all of this," Ana Iltis, a professor at Wake Forest and former president of the American Society for Bioethics and Humanities, told Business Insider. "With tissue donation, there's a lot of money at stake."

Donors and their families can't be paid for organ or tissue donations under US law.

A K-beauty trend

For decades, American plastic surgeons have used products made from human tissue for skin grafts and reconstructive surgeries. That practice includes aesthetic uses — such as cartilage for a nose job or skin for a breast augmentation — though many doctors prefer to use the patient's own tissue for such procedures.

Now, skincare treatments made from human tissue can be purchased for a few hundred dollars and administered at a med spa or dermatology clinic in under an hour. In South Korea, a mecca for cutting-edge beauty treatments, at least 10 biotech companies are making or planning to introduce skin-derived injections.

They are the latest generation of a treatment known among beauty obsessives as "skin boosters." Get your algorithm just right, and your social-media feeds will soon be full of before-and-afters showing off the purported benefits of these products. They depict patients, typically women and sometimes young ones, going from dull to dewy, fine-lined to smooth.

This year, the skin-derived injections are projected to generate $75 million in sales in South Korea, according to analysts at Yuanta Securities.

No brand is bigger than Re2O, which one dermatologist on Instagram called "the Love Potion No. 9 for cells." It accounts for between 60% and 70% of sales in the category, according to L&C Bio, its manufacturer.

Re2O notched the equivalent of more than $17 million in sales in the first half of this year, helping swing the company to an operating profit of about $11 million after a loss of about $326,000 in the same period last year, L&C Bio said. It has expanded the product line with Re2O Fine, marketed for more delicate skin, and is planning to launch a human fat-derived filler next year.

The company said it sold 700,000 units of Re2O as of September. It is available in Singapore and China, and has been approved in the United Arab Emirates, Peru, and Thailand.

Last week, L&C Bio said that it has signed a contract to deliver at least $60 million of Re2O to the US over the next five years. The company also said it may explore acquiring US tissue banks with its US distribution partner.

L&C Bio's plan to introduce Re2O to the US could spark a regulatory showdown. L&C Bio has said Re2O falls into a category of products such as skin grafts that don't require approval from the US Food and Drug Administration.

Some products that manufacturers claim qualify to be sold under this category don't actually meet the applicable criteria, the FDA told Business Insider. The agency said it wouldn't discuss any specific products under investigation.

"Products derived from donor skin that have been decellularized, dried, and ground into a powder for injection as a cosmetic 'skin booster' may raise significant questions" and may have to go through a more complex regulatory approval process, the agency said.

L&C Bio said it wouldn't comment on its discussions with regulators.

Re2O's biggest competitor, CellREDM, came onto the South Korean market in late 2025. It has been such a success that in the quarter ended June 30, operating income for its maker, Hans Biomed, soared to over $3 million after barely eking out a profit in the year-earlier period.

The tissue business

"In the human tissue business, access to raw materials is the lifeblood of the industry," L&C Bio's founder and CEO, Whan Chul Lee, said in Korean in a February interview with a South Korean news outlet.

For his company and its competitors, that lifeblood flows from the United States.

Roughly 90% of all the human tissue used in South Korea is imported, according to South Korea's Ministry of Food and Drug Safety. Less than 4% of South Korean adults are registered to donate organs, and even fewer donate tissue. Korean biotech companies have turned primarily to the US, where well over half of adults are registered donors.

Cadaver skin is collected in the US by organ procurement organizations, known as OPOs, and tissue banks. In the transplant system, skin is treated as a tissue, not an organ.

After tissue is collected, its route can vary. A nonprofit OPO often transfers it to an American tissue bank. The tissue bank pays a fee to the OPO, depending on factors like the amount and quality of tissue recovered. The fee covers the cost of the tissue recovery as well as a margin that supports other programs offered by the OPO.

Tissue banks — which can be nonprofit or for-profit entities — supply donor skin to Korean biotech firms.

Much of the US skin supplied to South Korea is used for more traditional medical purposes, like skin grafts for burn victims. L&C Bio makes such therapeutic products and says it prioritizes supply for them.

L&C Bio spent more than $25 million on donor skin from US tissue banks between 2023 and 2025 and $3.8 million in the first half of this year, according to corporate filings. The company told Business Insider that a quarter of its skin supply is used to make Re2O.

Organ distribution is coordinated by a public-private partnership with the federal government. Tissue is handled differently. It is distributed through commercial relationships.

The more traditional business aspects of the tissue industry have been a subject of debate since the federal law governing America's organ recovery and distribution system was enacted in the 1980s. In a system that relies on altruism, money changing hands could affect public trust, Jerold Mande, who helped write the National Organ Transplant Act, told Business Insider.

There is little data on American attitudes toward tissue donation. A survey of more than 1,000 families of donors in the US published in a 2010 academic journal found less than 30% said they thought it was acceptable for donated tissues to be processed and distributed by for-profit companies.

Revenue from tissue, primarily skin and bone, drove 93% of American OPO profits between 2013 and 2017, or a total of about $107 million per year in profit at 51 OPOs, according to a study in the medical journal Transplantation. The Association of Organ Procurement Organizations called the study outdated, said the money collected for tissue helps fund other life-saving work, and objected to the study's use of the word "profit."

"Reimbursed funds go directly back into the organization, supporting organ procurement as well as aftercare programs for donor families such as bereavement support and grief counseling," said Jenny Daigle, a spokesperson for the Association of Organ Procurement Organizations. Organizations must have a margin and reserves to remain financially stable, she added.

Human tissue donations help millions of people in the US each year, including skin for burn victims, bone for cancer survivors, and eyes for the visually impaired, Daigle said.

Regenerative Biologics, a Florida tissue bank, provides all the skin for Re2O, L&C Bio confirmed to Business Insider.

Regenerative's CEO, Sandy McCann, said her tissue bank acts as an intermediary, supplying skin collected by other organizations, and provides L&C Bio only with skin from donors who have given consent for international and cosmetic use. If other American tissue banks have skin that they can't use, "many times we can place it where someone can," she said.

Regenerative had just over $16 million in annual revenue in 2024 and 2025, according to reports filed with a Florida regulator.

By reviewing South Korean government records and images of product packaging, Business Insider identified two other US tissue banks, South Texas Blood and Tissue and RTI Surgical, that supply tissue for skin-derived injectable beauty treatments made by Korean companies.

South Texas Blood & Tissue supplies skin used to make South Korea's No. 2 brand, CellREDM. The tissue bank is based in San Antonio, sometimes called "Military City, USA" because of the large military base there. Educational materials on the tissue bank's website say that donor skin "heals patients suffering from burns or other traumatic wounds, and in reconstructive surgeries, including those wounded during military service."

South Texas Blood & Tissue said each of its tissue donors helps an average of 75 recipients. International distribution and commercial use are longstanding practices in the tissue industry, the group said. Tissue donor families have the option to decline cosmetic, international, or research use, the group added.

"Our top priority is to serve as good stewards of these tissue donations, and to ensure that all tissue we recover has the greatest impact possible," it said.

RTI, a Florida tissue bank that does business as Evergen, said it transfers a small amount of unprocessed donor skin to DOF, a tissue bank in South Korea that manufactures the skin-derived injection product Juveacell. RTI added that it is "dedicated to honoring the generosity of donors and their families."

The Axel Springer Global Reporters Network harnesses the resources of the company's newsrooms to publish ambitious scoops, investigations, interviews, opinion pieces and analysis. It allows journalists — including those from POLITICO, Business Insider, The Telegraph, WELT, BILD, Onet and Fakt — to collaborate on major stories for an international audience of hundreds of millions across platforms: online, print, TV and audio.

• A witness who testified against Andrew Left has himself become involved in an insider trading probe.
• Left's lawyers asked a judge to toss the jury verdict that found him guilty of securities fraud.
• Prosecutors said they didn't learn about the investigation until after the trial was over.

A witness who testified against Andrew Left has himself become involved in an insider trading probe, bringing a new twist to the bombastic short-seller's fraud conviction.

Left's lawyers this month asked the judge who oversaw his trial to toss the jury's verdict convicting him of 13 counts of securities fraud. The trial was irredeemably unfair, they said, because they never had the chance to ask the witness about the investigation and attack his credibility.

"A new trial would probably produce an acquittal," Left's lawyers wrote.

In June, a federal jury in Los Angeles found Left guilty of 13 counts of securities fraud. Prosecutors said he deceived investors by using social media and research reports to set target prices for stocks — including Tesla, Nvidia, and Palantir — while quietly trading them at different prices with his own money.

The founder of Citron Research, Left is something of a short-seller celebrity. He placed bets against GameStop at the same time it became a meme stock, which pitted him against some retail traders on social media. For years, he was a fixture on CNBC and Bloomberg, where he shared his views on stock prices.

Left hasn't been sentenced. In addition to the criminal case, he faces a parallel civil lawsuit from the Securities and Exchange Commission that remains unresolved.

Left's criminal conviction shook certain corners of Wall Street, which viewed the trial as a referendum on free speech and the legality of activist short-seller tactics. Left, testifying in his own defense at the trial, said that the views he shared about public companies were sincere.

One of the trial's prosecution witnesses was Daniel Bachus, the CFO of Grand Canyon Education, a publicly traded technology company that provides services to universities. Left's lawyers say that Bachus was the only witness who testified that Left used his Citron Research reports to lie about a company, not merely omit information.

On August 21 — weeks after the trial ended — Grand Canyon Education placed Bachus on paid administrative leave "in connection with an ongoing governmental investigation" involving a non-employee's trades of the company's stock, the company said in an SEC disclosure. The prosecutors in Left's case referred to it in their own filings as an "insider trading investigation."

No government agency has publicly accused Bachus or Grand Canyon Education of any misconduct in connection with the investigation. In the SEC disclosure, the company said it wasn't the focus of the investigation. Representatives for the SEC and for Grand Canyon Education declined to comment. Bachus didn't respond to Business Insider's requests for comment.

Left's lawyers say they should have been informed about the investigation at the time of the trial so that they could cross-examine Bachus and try to convince the jury that he wasn't a credible witness.

"This evidence would have destroyed the credibility of the government's only false-statements witness," they wrote in a filing.

The prosecution team told Left's lawyers it didn't learn about the investigation until after the trial was over. It's not clear which government agency opened the investigation, nor when Bachus or Grand Canyon Education became aware of it. Many of the filings about the issue remained sealed or redacted on the court docket for Left's case.

In court filings, Justice Department prosecutors said Left's lawyers overstated Bachus' role in the short-selling case, which alleged securities fraud involving more than a dozen different public companies. They said Left wanted to conduct "his own shadow investigation into Bachus" to try to discredit him as a witness.

"The law does not permit fishing expeditions in search of a claim," prosecutors said.

Left declined to comment. Left's attorney Eric S. Rosen said he could not comment because many relevant documents remained under seal.

A spokesperson for the US Attorney's office in Los Angeles declined to comment.

• Nvidia's communications operation has been reshaped as the company became the face of the AI boom.
• Roughly 15 staffers have left the lean team since 2025 as Nvidia reorganized its communications org.
• Former employees described growing workloads as responsibilities expanded.

Nvidia's communications organization has been reshaped as the company became the face of the AI boom, with multiple teams brought under new leadership and a string of departures.

Business Insider identified roughly 15 communications employees who have left Nvidia since 2025, based on LinkedIn profiles and interviews with former employees.

The organization now numbers roughly 70 to 80 people globally, and has more than doubled in size since Mylene Mangalindan joined as vice president of corporate communications in 2023, according to a person close to the company.

The departures have also included newer hires. Anna Soellner, who was recruited to lead corporate communications, left after roughly four months, Business Insider previously reported.

Nvidia is known for high retention. It reported companywide turnover of 3.7% in fiscal 2026, up from 2.5% the prior year, and well below the tech industry average of 21.9% cited in its latest sustainability report.

Mangalindan succeeded longtime communications chief Bob Sherbin, who retired in 2024. She previously worked at the advisory firm Brunswick Group.

She was brought in to "bring fresh blood" and "upgrade the team" to meet Nvidia's growing profile, one former employee said.

At the end of 2024, Nvidia restructured its communications organization. It brought enterprise public relations under Mangalindan's leadership alongside the corporate communications team she already led, according to two former employees.

Corporate communications focuses on Nvidia's reputation and major media outlets, while enterprise handles product and industry messaging, including for its data center business.

One former employee said the consolidation reflected the growing importance of Nvidia's data center business, which sells chips and systems that power AI and had become its biggest revenue driver.

Analyst relations, social media, and influencer marketing also moved under Mangalindan's remit this year, another former employee said.

Three former employees said Nvidia's communications team had long operated with relatively lean staffing, even as workloads grew alongside the company's public profile, leaving staff juggling multiple responsibilities.

These employees said they experienced long hours, difficulty taking time off, and pressure to respond quickly to emails and Slack messages.

A person close to Nvidia said the company's lean staffing allows employees to move quickly and also requires long hours. The person said Mangalindan encourages staff to take vacation, though the team's small size can make scheduling time off difficult, particularly in the summer.

Nvidia is widely known for its demanding work environment. CEO Jensen Huang has emphasized operating at the "speed of light" and is known for fostering a culture of constant accountability.

Have a tip? Contact this reporter via email at gweiss@businessinsider.com or Signal at @geoffweiss.25. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.

• OpenAI's Alexander Embiricos said the AI era gives a choice: work more, or work less.
• He's in charge of Dots, the company's new always-on work assistant.
• AI is often pitched as freeing up time. Embiricos responded to the idea that it might add more work.

As the competitive AI race pushes tech workers into long hours, the head of OpenAI's new Dots product says AI gives people another option: work a whole lot less.

Alexander Embiricos, who leads OpenAI's enterprise product and helms the new Dots agent tool, told a crowd at TechCrunch's Disrupt conference on Thursday that AI's capabilities have created something of a fork in the road for workers. You can grind to meet the moment. Or you can use AI to kick your feet up a little.

"We basically have a lot more choice now," he said.

Embiricos made the comments after a reporter asked about when AI systems will actually deliver more free time. The reporter shared an anecdote where an OpenAI employee used a ChatGPT mobile feature to work in their car and on a plane — not exactly liberated by the new tech.

Embiricos said that the moment has already arrived where a worker can "outsource" tasks to AI and do less work. Then again, some people are so excited about AI's potential that they feel like it's an "interesting, ripe moment" to put in extra hours.

"I think that's why a lot of people are motivated to work very hard right now. That includes myself," he said. "But I think actually there is this choice, and there's totally this other setup where you could delegate a ton more things."

OpenAI is billing its Dots tool as a workplace assistant, always on and capable of proactively handing tasks and sorting to-dos. Embiricos uses his Dot often in Slack, he said, engaging on various threads.

His perspective illustrates how early companies are in their journey to adopt AI tools. Most companies have not yet automated their work tasks, and many workers are still debating how much to use the tools. Early AI adopters, meanwhile, can sprint through some work that used to take days or weeks, especially in software engineering.

Embiricos summed up the situation he feels workers are in: "You either choose: do you expand the ambition of what you can do, or do you do less? I do think we're there."

Have a tip? Contact this reporter via email at scouncil@businessinsider.com, or over text, Signal, Telegram, or WhatsApp at 415-757-8198. Use a personal email address, a non-work WiFi network, and a non-work device; here's our guide to sharing information securely.

• Two watchdog groups asked the California state bar to investigate White House spox Katie Zacharia.
• She worked as a general counsel in California. The state bar has no record she was licensed there.
• Zacharia said she consulted with people in the field to see if she could label herself a lawyer.

A growing chorus is voicing concern about White House press secretary Katie Zacharia's self-described legal career.

Two watchdog groups Wednesday filed complaints with the State Bar of California, asking it to investigate whether she violated California law by calling herself a lawyer.

It is a misdemeanor in California to practice law or advertise yourself as an attorney if you don't have a license to do so.

Several law and legal-ethics professors told Business Insider that if Zacharia misrepresented herself as an attorney, or used a title like general counsel without having been admitted to the bar, that could land her in trouble with state bar officials should she try to join in the future.

Substack publication Popular Information this week reported that Zacharia hadn't been admitted to any state bar, and The Wall Street Journal reported that she failed California's bar exam after graduating from law school in 2011. After her graduation, she moved to China, where she worked for a law firm as an associate on an international practice team.

Zacharia Thursday defended calling herself a lawyer.

In an interview Thursday with right-wing activist Jack Posobiec, Zacharia said she considered her bar exam results "inconsequential" because of her impending move to China.

"After moving to China, I didn't really think much of the bar results or consider that something that I needed to focus on," she said.

She told Posobiec that she "consulted for a very long time with many people in the field" to see if she could label herself a lawyer and offer legal analysis, not "legal advice." She also said she wouldn't weigh in on legal matters as press secretary.

President Trump's new press secretary has repeatedly referred to herself as a lawyer. Her LinkedIn page says she worked as a general counsel in California, and on Tuesday, in a statement to Business Insider, she said she had "practiced international transaction law, with all the appropriate credentials."

Zacharia used her legal pedigree to give herself credibility in her White House role, the Campaign for Accountability said Wednesday in its complaint to the California bar.

"The public is entitled to rely on the representation that a person who calls herself a lawyer is in fact licensed to practice law," the group wrote.

White House Communications Director Steven Cheung said Thursday that Zacharia "is uniquely qualified and whip smart to help inform the American people about all the great things President Trump and his Administration have been doing, and she will do an incredible job as Press Secretary."

In an X post Wednesday, Cheung referred to the Campaign for Accountability as a "radical leftist-organization run by rabid numbskulls suffering from a severe case of Trump Derangement Syndrome."

"Nobody takes them seriously because they are deranged low lifes," his post said.

Watchdog group Democracy Defenders Fund also filed a complaint with the bar.

'Character and fitness'

There is no record that Zacharia has ever been licensed to practice law in her home state of California, a spokesperson for the state bar told Business Insider.

Zacharia earned her law degree at California's Pepperdine University in 2011, then moved to China, according to her LinkedIn page.

She later served as general counsel for Fix California, a political advocacy group, between January 2024 and March 2025, her LinkedIn page says. Richard Grenell, the founder of Fix California and a state department official in the Trump administration, didn't respond to requests for comment about Zacharia's work for the organization.

That résume entry could hurt her chances of admission to the bar in future, legal-ethics professors told Business Insider.

The bar admissions process in most states includes a step in which the bar evaluates prospective members' "character and fitness," according to Richard Zitrin, a legal-ethics professor at the University of San Francisco's law school.

Claiming to be a general counsel in California would cut against her if she didn't have a license to practice law at the time, Zitrin said.

Business Insider reviewed records for all 50 states and the District of Columbia and found no evidence that Zacharia had been admitted to any state bar in the US.

A law firm in China

Zacharia moved to China with her husband because of his job at an American private equity firm, the White House said.

In China, only Chinese nationals can become a member of the country's bar and practice law, experts in the Chinese legal system told Business Insider.

According to her LinkedIn page, Zacharia worked for Zhong Lun, a large law firm in Beijing, between 2011 and 2013. Asked by a reporter on Tuesday which state she passed the bar exam in, Zacharia responded, "When I moved to China."

Unlike the United States, where the bar admission process varies by state, China has a single unified bar exam process. It is available only to Chinese nationals and generally requires a degree from a Chinese university, according to Jacques deLisle, a professor at the University of Pennsylvania law school who studies the Chinese legal system.

"The odds that she is a member of the Chinese bar are essentially zero," he said. "Both because of the citizenship requirement and the education requirement."

It's possible for employees of international law firms to do some work on transactions without passing a bar exam, but the scope of the work they're permitted to do is limited, according to Taisu Zhang, a professor of Chinese law at Yale Law School. Those firms generally require employees to pass a bar exam within a few years, he said.

Law firms like Zhong Lun often hire recent foreign law school graduates to review contracts and advise on elements of US law for transactions, but they need to "stay within the edges" of their work so that they don't cross into practicing law, which is illegal in China, deLisle said.

"She was never a lawyer in China. It doesn't mean she didn't do law-related work, but she was never a lawyer in China," deLisle said.

Representatives for Zhong Lun didn't respond to Business Insider's requests for comment.