Michael Lewis has a new essay to accompany the paperback version of Going Infinite, a book about Sam Bankman-Fried that appeared just before his trial. Sure, SBF did crimes because he was an arrogant gambler, but Lewis still loves his gamer son.
[Washington Post]
The resulting write-downs have hobbled the banks’ loan books and, in one case, was a factor that crimped compensation for a bank’s merger department, according to people involved with the deal.
Oh.
GoPro, which currently employs 925 people, says in an SEC filing that it’s issuing the layoffs as part of its plan to reduce costs. The company reported earning $186 million this past quarter — a 23 percent dip compared to the same time last year. It also laid off 4 percent of workers in March.
Sam Altman’s crypto-adjacent Worldcoin has irritated global regulators:
It has been raided in Hong Kong, blocked in Spain, fined in Argentina and criminally investigated in Kenya. A ruling looms on whether it can keep operating in the European Union.
The Autonomy founder’s superyacht, the Bayesian, sunk after being hit by a tornado while anchored near the coast of Sicily, with 22 people on board. 15 survivors have been rescued so far.
Lynch sold his company to HP in 2011 for $11 billion, then HP alleged “accounting improprieties” had misrepresented its value. Lynch was acquitted of fraud charges in June.
This in-depth story about Silicon Valley power couple Ben and Felicia Horowitz suggests that the catalyst for their political about-face was receiving criticism from the left. “Multiple sources close to the couple said the social media backlash affected them deeply.”
[The San Francisco Standard]
After over a decade, The Onion will once again appear in print — this time, as a monthly newspaper delivered to your doorstep. The satirical outlet, which now has new owners, will charge $5 / month for the newspaper if you sign up by August 31st.
Vance, who was an investor, board member, and spokesman, claimed AppHarvest was “a great business that’s making a big difference in the world.” It declared bankruptcy last year.
Several former employees told CNN they thought Vance and other board members should have recognized and responded to warning signs that company officials were misleading the public and their own investors.
Publishers like Rolling Stone and The New York Times are sizing up Reddit as a potential source of significant traffic, according to Adweek.
Reddit’s visibility in Google Search has skyrocketed this year, making the platform an attractive place for marketers and the SEO industry. But media of all industries should know that relying on outside platforms historically hasn’t gone well.
