The Economist (November 17)
“Nobody in crypto has slept in days.” Despair has filled the crypto universe since ftx, a Bahamas-based crypto exchange and crown jewel in the empire of Sam Bankman-Fried, its once-feted founder, filed for bankruptcy on November 11th…. He was supposed to be crypto’s future. Instead, he may have robbed the industry of one.”
Tags: Bahamas, Bankman-Fried, Bankruptcy, Crypto, Despair, Exchange, Founder, FTX, Future, Industry
Reuters (September 3)
“Publicly listed family-owned firms, defined as those where the founder of their family owns 20% of shares or votes, returned 3 percentage points more than non-family owned stocks during the virus-struck first half of 2020.” It might be a coincidence, “but the same thing happened after the last crisis…. The effect persists across sectors, regions and company size,” perhaps because the firms have less debt and invest more in R&D.
Tags: 2020, Crisis, Debt, Family-owned, Founder, Listed, R&D, Regions, Sectors, Shares, Size, Stocks, Virus
Inc. (December 13)
Age discrimination may be “more prevalent in Silicon Valley than either gender or race discrimination,” at least in the eyes of the average founder, who is largely white and male. “A new survey from First Round Capital shows that “two-thirds of male founders think their companies are inclusive environments for parents, but just one-third of female founders agree.”
Tags: Age, Discrimination` Silicon Valley, Female, First Round Capital, Founder, Gender, Inclusive, Male, Race, White
Bloomberg (March 21)
The so-called skyscraper curse has claimed another victim. “After almost seven years of planning and 4 trillion won ($3.6 billion) in spending, the conglomerate is preparing to unwrap its Lotte World Tower to the public.” Like other skyscrapers planned in the best of times, this unveiling is taking place amid challenging times as South Korea “is being pummeled by concurrent political and economic crises.” Morevoer, “the debut couldn’t come at a worse time for Lotte…. The empire’s 94-year-old founder and three of his children face corruption charges, and its stores are at the epicenter of Chinese consumer retaliation for a U.S. missile-defense system being installed on land it provided.” Making things even worse, an elevator glitch has delayed the grand opening by two weeks.
Tags: China, Corruption, Crises, Delay, Elevator, Founder, Lotte World Tower, Missile defense, Planning, Retaliation, Skyscraper curse, South Korea, U.S., Victim
