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After Uber, Here Are 5 CEOs We Can't Believe Still Have Jobs
Capital Markets
With Travis Kalanick finally booted from Uber, we thought it was time to put some other CEOs on blast who have, improbably, escaped the same fate. Perhaps, like us, you forgot some of these folks were still clutching the reins of their respective companies. After all, the Teflon CEO was supposed to be a thing of the past: Over the past 15 years, investors
Vice Media's Shane Smith Has Become a Billionaire By Peddling Content to Hipsters
Capital Markets
Shane Smith, co-founder Vice magazine - a hipster digest that documents the world of drugs, fashion, music, art and a lot more drugs - is now officially a billionaire media baron, as Bloomberg reports. Smith, who co-founded Vice in Montreal, Quebec back in 1994 (when it was originally called the Voice of Montreal) then moved it to Brooklyn, NY at the beginning
Treasury Secretary Mnuchin Officially Divests Stake in Hollywood Financing Company  
Capital Markets
Steven Mnuchin says he is fully removed from his Hollywood business dealings, reports Bloomberg. In a filing released Tuesday, he confirmed that under his ethics agreement he had completed all necessary divestitures. Having sold off his stake in Hollywood financing company RatPac-Dune, the treasury secretary has appeased the Office of Government Ethics and ended his involvement in the private business
A Robotics ETF Springs to Life
Capital Markets
For those wondering, the robotics and artificial intelligence investment themes are gaining momentum. Fortunately, those themes are accessible via exchange-traded funds, including the Global X Robotics & Artificial Intelligence ETF (NASDAQ: BOTZ). Introducing BOTZ BOTZ is up nearly 26 percent year to date, a performance that easily surpasses the returns offered by traditional industrial and technology ETFs, sectors where artificial
Jack Ma: Small Business Will Rule the Future Economy
Capital Markets
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
Capital Markets
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