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Is it the Boston Tea Party? … ’Cause everyone’s talking about tariffs like it’s 1773
Last week, President Trump imposed tariffs on steel and aluminum imports. Here’s a breakdown of how they work and who's affected.
How a holding company that sold pool chemicals pivoted into a $20B coffee empire
Chances are, you haven’t heard of JAB Holding Company, but you’ve probably consumed their coffee products. Fifty years ago, the privately held German conglomerate was selling chemicals for pools, resigned to a life of irrelevance. Today, they own Keurig, Peet’s Coffee, and the Dr Pepper Snapple Group — a $20B trove that has a hand […]
Everybody’s gettin’ together: Cigna buys Express Scripts for $52B
In the latest in the wave of healthcare consolidations, health insurance provider Cigna announced that it will purchase the largest pharmacy benefits manager (PBM), Express Scripts, for $52B in cash and stock. Both companies are on the rebound: Antitrust regulators blocked Cigna’s attempt to buy Anthem for $48B last year, and Anthem dumped Express Scripts […]
Out with the heels, in with the comfort: High heel sales are down
Times are changing. Workplaces are getting more casual, Vans are cool to wear at dinner, and people, whether working at home or an office, are increasingly more aware of their movement — because fitness trackers. As a result, high heels got shoved to the back of the closet last year: Sales dropped 12%, with one-third […]
Nice genes, wanna date? This new dating app uses your DNA to find matches
Pheramor, a Houston Texas-based dating startup, says it can find you the perfect match for $19.99 plus a $10/month subscription — and it’s all in your DNA. Described as a hybrid between Tinder and 23andMe, Pheramor requests a swab from your cheek via mail, analyzes your DNA, then finds compatible mates in your area. It […]
Coca-Cola is releasing an alcoholic drink in the world’s most adventurous market: Japan
The ubiquitous beverage Goliath has announced that it will introduce an alcoholic drink, the first in the company’s 125-year history. Dubbed chūhai, the drink variety will be available only in Japan — arguably the world’s most adventurous, eclectic market for new products. A chūhai-splainer Chūhai, also known as Chu-Hi, is an increasingly popular canned beverage […]
Big funding: There’s always money in algorithms
Whether you use algorithms to simulate reality, or create an entirely new one, chances are people want to throw money at you. Here are the latest companies reaping the VC rewards of AI and AR. Kensho’s $550m price tag is the largest AI deal in history S&P Global just coughed up over half a billion […]
The coconut oil health kick is finally losing steam
Turns out, coconut oil may have been a wolf in superfood’s clothing all along. According to new data from research firm SPINS, the golden child of the health food industry’s sales took a nosedive last year, down almost 30% since their high 3 years ago. So what happened? Coconut oil initially attracted users with the […]
An e-waste recycling pioneer may be headed to jail for trying to make PCs last longer
For years, Eric Lundgren has fought to cut down on e-waste, or the millions of electronic devices that are discarded every day. The LA Times calls Lundgren a man “obsessed” with recycling electronics — so obsessed, that he once built an electric vehicle out of recycled parts which recorded a longer travel time on a […]
For the first time in 13 years, LEGO has reported a decline in revenue and profit
Yesterday, the 85-year-old Danish toy manufacturer released their annual financial results for 2017… and the bricks didn’t exactly fall into place. Last year, the company — which sells 75B bricks annually — saw their profit fall 17%, and revenue drop 8%, breaking their 13-year growth streak, over which revenue increased by an average of 15% […]
An Australian man who claims to have invented bitcoin just got sued for $10B
Craig Wright, the self-proclaimed inventor of bitcoin, is being sued for more than $10B by the family of his ex-bitcoin mining business partner, Dave Kleiman. The lawsuit alleges that Wright “perpetrated a scheme” to seize between 300k and 1.1m remaining coins from Kleiman, who died in 2013. According to the lawsuit, it’s “undeniable” that Wright […]
Mobile usage is killing the internet cookie
Netscape programmer Lou Montulli created “cookies” back in ’94 as a way to track user selections in a virtual shopping cart. Since, cookies have evolved into a crucial system for advertisers to track users’ desktop browsing activity. Now, the rise of mobile threatens to end cookies’ long reign over the internet: a recent marketing survey […]
An MIT study concluded that Uber drivers make less than $4 an hour… Uber calls BS
According to a new paper by MIT, the average Uber driver makes less than $4 an hour, with 74% of drivers earning less than minimum wage. The paper used third-party survey data collected from 1.1k drivers, and was almost immediately disputed by Uber’s in-house economist Jonathan Hall, who accused the authors of a “major error” […]
After years of neglect, Google finally sells Zagat
7 years after acquiring the now 39-year-old restaurant review company Zagat, Google is offloading it onto The Infatuation, a young up-and-comer in the food review space that leverages branded hashtags and polished Instagram pictures to grow their readership. Zagat’s time at Google hasn’t exactly been a raging success, and as other review companies like Yelp […]
How a millennial-focused erectile dysfunction startup came to be worth $200m
Fun fact: ED and hair loss aren’t just “old person” things: 25% of men with male pattern baldness begin losing their flow before they reach 21, and 1 in 4 men who go to the doctor for ED are under the age of 40. But rest easy, millennials, because men’s wellness startup, Hims, has raised […]
Movin’ on up: Coinbase hires former LinkedIn exec to spearhead new acquisitions
Coinbase has grown to a $1.6B valuation without any major acquisitions during their 6-year run, but their newest hire is a sign that may be changing. Yesterday, the crypto trading platform announced they’ll be bringing on former head of mergers and acquisitions at LinkedIn, Emilie Choi, as their VP of corporate and business development. The […]
In lieu of bonuses, United Air created (and canceled) a $100k lottery for its employees
In an internal memo leaked last week, United Airlines announced they were replacing performance-based bonuses with a new, “exciting” lottery system, in which the company’s 80k employees would have the chance to win a handful of prizes. Now, after a widespread petition and a barrage of bad press on the internet, United is calling off […]
Toyota’s dropping $2.8B to develop its own self-driving software company
Toyota’s dropping $2.8B to develop its own self-driving software company In a partnership with automotive suppliers Aisin Seiki and Denso, Toyota is launching a new company called TRI-AD (Toyota Research Institute-Advanced Development) to create a self-driving car that’s built totally in-house — software and all. And, they’re putting some serious resources behind it: Toyota plans […]
AMSilk wants to make breast implants safer using modified E. coli bacteria
AMSilk wants to make breast implants safer using modified E. coli bacteria German biotech company AMSilk has developed a protein-based liquid-silk coating for medical and cosmetic implants that scientists believe could help the human body adapt more safely to implant surgeries. The company is known for developing synthetic polymers that mimic natural substances, and has […]
Can tiny satellites bring internet access to remote areas?
Last week, venture capital firm Andreessen Horowitz announced they’re leading an $13.5m investment in Astranis, a startup focused on building commercial telecommunications satellites. In recent years, a “new space race” centered around satellite internet has emerged, with companies like SpaceX and Richard Branson-backed OneWeb competing to launch devices and establish networks capable of reaching areas […]
Angry Birds creator’s head of games flies the coop
Rovio, the Finnish mobile game and animation studio that created the hit Angry Birds franchise, have had a rough go as of late. On Friday, they announced that their head of games, Wilhelm Taht, will leave the company effective immediately following a dramatic profit warning the week before. To top it off, the company announced […]
Harvard University gets cocky, loses $1B
Harvard bet its endowment fund on Brazillian tomato farms... and it didn't exactly pay off.
TGIF: South Korea reduces its workweek to 52 hours
In an effort to boost their birth rate, South Korea reduces their workweek to 52 hours to make time for – ahem – other things in life.
DoorDash raises $535m, is now worth $1.4B
Softbank just ponied up a ton of dough to lead DoorDash’s latest funding round, now they have a stake in two of the biggest food delivery companies.
$3B mapping company Here is making moves with Naver Labs
A $3B mapping and locations platform just joined forces with a 3D mapping company to map indoor spaces.
Why do brands want to be the ‘official sponsor’ of the NFL?
Eager to tap into a highly loyal and demographically consistent audience, Pizza Hut quickly replaces Papa John’s as official pizza sponsor of the NFL.
Spotify is finally going public
Spotify finally files for a direct listing IPO, giving us a look into some of their big numbers.
Palantir has been secretly testing ‘Minority Report’-like predictive policing technology
Palantir has secretly been testing a predictive policing technology in New Orleans since 2012, and the public had no idea.
In the EU, people have a right to be removed from certain search results
The EU’s “right to be forgotten” allows individuals to request that links be removed from Google results. But it comes with a high price.
Amazon acquires smart doorbell maker, Ring, for $1B
Amazon ponies up $1B for what could be its second-largest acquisition, the smart doorbell maker Ring, and enters the smart-home race with Google.
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