Facebook head of communications and public policy Elliot Schrage said Thursday that he is stepping down after a decade at the social media company. “After more than a decade at Facebook, I’ve decided it’s time to start a new chapter in my life. Leading policy and communications for hyper growth technology companies is a joy […]
Read moreNetflix is an unassuming insurrectionist. CEO Reed Hastings is known for the endearing sweaters he wears during his investor calls. Past and present co-workers say he’s respectful and hands-off. Netflix‘s culture is famously lenient: Employees have freedom to work on projects they find important and get unusual perks, including unlimited vacation, no set schedules, and […]
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The world’s second largest cryptocurrency spiked Thursday after a key Securities and Exchange Commission official made it clear that in the eyes of the agency, it’s not a security. The digital currency ether rose 8.8 percent to a high of $520.68, according to CoinDesk. Its price has struggled along with other cryptocurrencies this year, and […]
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Armed with new-found proceeds from the tax bill, American consumers went shopping in May, driving retail sales — and economic growth — sharply higher. The economy in the second quarter is tracking close to 4 percent growth — a level President Donald Trump raved about last December, just before the tax bill was approved. At […]
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Elon Musk is “masterful” in the way he fights back against the short sellers of Tesla stock, CNBC’s Jim Cramer said Thursday. “You can’t lay a glove on him [Musk]. He floats like a butterfly, stings like a bee,” said Cramer, paraphrasing the famous quote from the late boxer Muhammad Ali. Tesla is one of […]
Read moreThe SEC’s point man on cryptocurrencies and initial coin offerings (ICOs) says that bitcoin and ether are not securities but that many, but not all, ICOs are securities and will come under the regulatory control of the SEC and relevant securities laws. “Central to determining whether a security is being sold is how it is […]
Read moreDropbox was on pace for its best day since going public Thursday, with massive trading volumes sending shares up roughly 20 percent at their peak. The stock hit an all-time high above $38 after closing Wednesday below $32. Shares were trading at more than 5 times their normal trading volume. Thursday’s surge lifts Dropbox roughly […]
Read moreThe photos from the Singapore summit were meant to impress, but the substance was thin indeed — for a vague pledge to work towards complete denuclearization of the Korean Peninsula our president gave up U.S.-South Korean joint military exercises in a surprise move that whacked both South Korea and Japan. Maybe it will all work […]
Read moreDonna Brunswick drove to a Costco last month to pick up 2 pounds of raw flank steak — not at the wholesale club, but from a truck in the parking lot. “Typically you wouldn’t buy meat off a random truck,” says Brunswick, a technical manager in Atlanta. But she says $20 for the slab of […]
Read moreAmazon boss Jeff Bezos is the richest person in the world and is currently worth more than $140 billion, according to Forbes. He has a lot of wealth to share, if he so chooses. And it appears that’s exactly what he intends to do. Bezos has settled on “two areas” on which to focus his […]
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