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Jack Ma: Small Business Will Rule the Future Economy
Billionaire Alibaba founder Jack Ma shared his insight on how the world's economy will look in 30 years during Alibaba’s Gateway ’17 conference in Detroit, predicting that small businesses will take over the reins from the largest companies and that humans will “only work four hours a day,” CNBC reports. Over the last 10 years, tech companies in particular have been on
The Truth About the Fed and Inflation
Rick provides his take on the Fed’s most recent rate hike and makes the case against an overly rigid view of price change. The Federal Reserve (Fed) last week proceeded with policy normalization as we expected, raising rates by 0.25%. The Fed’s policy move was fully justified, in our view, despite some of the handwringing regarding rate increases from many
Uber's Ousted CEO Travis Kalanick Discovered the Limits of Founder Control - The Hard Way
On Wall Street, shareholders wield enormous power. In just the last few months activists have shoved Whole Foods into Amazon’s $13.4 billion embrace, kicked Etsy’s CEO out the (handcrafted) door, and sent shivers down the spines of GM’s top leaders. Silicon Valley founders want no part in those battles. To protect themselves, they have been building legal fortresses in the form of super-voting shares and
For Some Reason, Oil ETFs Still Have Fans
Blame it on bottom-fishing or bullish biases, but one of this year's worst-performing commodities still has supporters in the world of exchange traded products where the slumping United States Oil Fund (NYSE: USO) has been attracting new money. Bear Territory "In spite of the sell-off that continues to rule most days in Crude Oil, USO still has managed to attract
Report: Theranos Settles its Lawsuit With Walgreens
Although Theranos has thus far failed as a blood-testing company, the beleaguered Silicon Valley startup is proving to be pretty adept at settling the numerous lawsuits that have piled up against it. The latest deal - reported by the Wall Street Journal - is an agreement in principle with Walgreens, the drugstore chain that had partnered with Theranos in 2010 to
A 'Shareholder Revolt' Ousts Travis Kalanick at Uber
Travis Kalanick resigned on Tuesday as CEO of Uber after a "shareholder revolt" effectively ousted him from the ride-sharing company he helped found in 2009, the New York Times reports. The stunning development comes just a week after Kalanick announced that he'd be taking an extended leave of absence under a cloud of controversy and personal tragedy. Not only was Kalanick
Is the Tech Rally Back? No — It Never Went Away
Heading into Monday's trading session, many investors were concerned that the rally in tech stocks had not only come to a sudden end, but a sell-off is underway. But after one of the best trading-day performances in month on Monday, some analysts are convinced the tech rally is back and here to stay. Over the past two weeks, the technology
Tech Giants Journey to White House to Aide in Government Technology Upgrade
Despite the “We Are Still In” Coalition and other public disagreements between the tech sector and President Trump’s administration, top executives made their way to D.C. on Monday to review a possible tech upgrade of government systems, reports The New York Times. Among the 18 big names and tech CEOs were Tim Cook (Apple), Jeff Bezos (Amazon), Satya Nadella (Microsoft)
Elizabeth Warren Demands Entire Wells Fargo Board Be Swapped Out
In a letter sent to Federal Reserve Chair Janet Yellen, Massachusetts Democratic Senator Elizabeth Warren has called for all 12 of the Wells Fargo board members who oversaw the fake accounts scandal to be removed, reports CNBC. Warren has long been a critic of such unsavory financial practices, and her anger and actions are rooted in breath-taking statistics: Over 2
Blue Apron Raising $587M in its IPO For a Target Valuation of $3B
Blue Apron plans to raise about $587 million for its initial public offering that will value the company at $3 billion, as TechCrunch reports. The New York-based meal ingredient delivery service company will price its shares between $15-$17, according to TechCrunch. The 30 million shares offered as part of the IPO will be Class A common stock, carrying one vote