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☆ 'This is what you live for': How to handle GameStop's jaw-dropping swings as meme stocks make a comeback, according to a momentum-obsessed technical strategist
▼ + stars: | 2024-05-15 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

He believes the stock market is rational — even when it doesn't appear to be. Related stories"The market is ruthlessly efficient, both long term and short term," Lundgren said. The strategist added: "The market doesn't care one iota about fundamentals in the short term. Like any market, stock exchanges determine prices based on what buyers and sellers will pay and sell for. Just because it's taking place in a mall doesn't make that mall an insane asylum."

Persons: —, Tuesday's, Redditors, David Lundgren, Lundgren, who's, that's, It's, Benjamin Graham, Mark Minervini Organizations: Service, GameStop, Business, Street, MOTR Capital Management & Research, Little Harbor Advisors, AMC

Donald J. Trump, the onetime president, and Stormy Daniels, the longtime porn star, despise one another. But when Ms. Daniels returned to the witness stand at Mr. Trump’s criminal trial on Thursday, his lawyers made them sound a lot alike. During Thursday’s grueling cross-examination, Mr. Trump’s lawyers sought to discredit Ms. Daniels as a money-grubbing extortionist who used a passing proximity to Mr. Trump to attain fame and riches. But the more the defense assailed her self-promoting merchandise and online screeds, the more Ms. Daniels resembled the man she was testifying against: a master of marketing, a savant of social-media scorn. “Not unlike Mr. Trump,” she said on the stand, though unlike him, she did it without the power and platform of the presidency.

Persons: Donald J, Trump, Stormy Daniels, Daniels, Ms, grubbing, ”

☆ NBA stars are scoring big in the fashion world
▼ + stars: | 2024-04-29 | by ( Nick Remsen | ) edition.cnn.com time to read: +9 min

Basketball players’ style — largely in the men’s league, but increasingly the women’s too — has become a bonafide pillar in fashion media and consumption. Basketball players’ style has more eyes on it than any other sport, the Pulitzer Prize-winning author Mitchell S. Jackson told CNN. “(The league) was the first to embrace it,” Jackson, author of the recently released photobook “Fly: The Big Book of Basketball Fashion,” explained. “Basketball players are so much a part of American culture. Bettman/Getty Images/Courtesy Workman“We talk a lot about current NBA tunnel style, but the league has been America’s most stylish for decades,” Schube continued.

Persons: Tyrese Haliburton, Pepper Robinson, Ron Hoskins, NBAE, — Tyrese Haliburton, —, Pharrell Williams, Birkin, it’s, Shai Gilgeous, Alexander, Russell Westbrook, LeBron James, Josh Giddey, Tyler Herro, “, Marcus Paul, Luka Dončic, ” There’s, Caitlin Clark, Prada, Sam Schube, Thom Browne, AJ Mast, Tyler Ross, Workman, Virgil Abloh, Louis Vuitton, Williams, Kim Kardashian’s, Donovan Clingan, Caleb Love, Hunter Dickinson, Jared McCain, Duke, Robert Dillingham, Paxson Wojcik, Mitchell S, Jackson, ” Jackson, ”, LeBron, Michael Jordan, Jordan, Jackson’s, Peggy Sirota, who’ve, Stephen “ Steph ” Curry, Curry, Steph Curry, Jed Jacobsohn “, ’ ” Curry, ” Curry, “ I’m, Kyle Kuzma, Timothée, Johnson, Andrew D, Bernstein, Walt Frazier, Bettman, ” Schube, “ Allen Iverson, Phil Jackson, Pat Riley, Armani, Walt Fraziers, Wilt Chamberlain’s, Fatih Aktas, ‘, ’ ”, …, they’d, ” Gilgeous, Alexander —, haven’t Organizations: Indiana Pacers, Basketball, Gilgeous, CNN, GQ, Cleveland Cavaliers, New York Times, Los Angeles Lakers, Oklahoma City Thunder, NBA, UConn, UNC, “ Basketball, Golden State Warriors, Fashion Council, Savant, State, GQ Sports, ’, Workman New York Knicks, Royce, Anadolu Agency, Getty, Civil, Nike Locations: Haliburton, Arizona, Kansas, Robert Dillingham ( Kentucky, Chicago , Illinois, Gilgeous

☆ The Meteoric Rise and Spectacular Fall of the Queen of Airbnb
▼ + stars: | 2024-04-21 | by ( Dan Latu | ) www.businessinsider.com time to read: +18 min

Now, after she made her pitch at the VFW hall, attendees clamored around Widell, eager to have her manage their Airbnb rentals. The reign of the Airbnb Queen of Tulsa was over — and her subjects were left to pick up the pieces. Dominic Bugatto for BIThe "Queen of Airbnb" label, which started off as Widell's Airbnb account name, helped create an aura of omnipotence. According to those familiar with the business, Widell seemed to be shifting her focus away from Airbnb rentals to the house-staging business. Today, her "Tulsa Airbnb Group" on Facebook remains active, with some 1,000 members.

Persons: Airbnb, Dani Widell, Widell, Kathy Portley, weren't, —, Emily Burke, Will Widell, They'd, thrifty, Will, who'd, Logan Haskett, Dominic Bugatto, Burke, hadn't, Knikki Nash, she'd, Mallory Massey, Massey, David Brunson, Brunson, Renee Brummett, We've, Dani hasn't, Brummett, doorstepped, unraveled, Nash, Dani, Widell's, carting, Will cosigned, Brummet, Tulsa's, Meagan McCollum, Bram Gallagher, Gallagher, Dan Latu Organizations: VFW, Tulsa, Facebook, Tulsa Real Estate Investors Association, Oklahoma State University, Tulsa People, Mahogany Prime, Summit, Downtown, Social, Bank of America Center, PGA, Investors, Widell, Employees, Rover, BI, nonpayment, University of Tulsa, Business Locations: Tulsa, Tulsa ., Widell, Airbnb, Brady, Arkansas, —

☆ ‘Civil War’ Review: We Have Met the Enemy and It Is Us. Again.
▼ + stars: | 2024-04-11 | by ( Manohla Dargis | ) www.nytimes.com time to read: +3 min

A blunt, gut-twisting work of speculative fiction, “Civil War” opens with the United States at war with itself — literally, not just rhetorically. As in what if the visions of some rioters had been realized, what if the nation was again broken by Civil War, what if the democratic experiment called America had come undone? In “Civil War,” the British filmmaker Alex Garland explores the unbearable if not the unthinkable, something he likes to do. By the time “Civil War” opens, the fight has been raging for an undisclosed period yet long enough to have hollowed out cities and people’s faces alike. Instead, he presents an outwardly and largely post-ideological landscape in which debates over policies, politics and American exceptionalism have been rendered moot by war.

Persons: ”, it’s mesmerizingly, Kirsten Dunst, Alex Garland, Garland, “, Jesse Plemons, you’ve Organizations: D.C, Western Forces Locations: United States, Washington, New York, Texas, California, America, British

☆ How Bob Iger vanquished a corporate raider in Disney’s most consequential boardroom battle in decades
▼ + stars: | 2024-04-04 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

But over the last several months, the Disney chief made significant moves that took the wind out of those sails. Regardless, the course of action taken by Iger had the same effect, pouring cold water on Peltz’s public grievances. On streaming strategy: Iger moved to take full control of Hulu in a major deal with Comcast. Last week, Disney merged the service into Disney+, putting both libraries into a single app in a move once considered unthinkable. Disney investors overwhelmingly moved to elect Disney’s slate of directors, rejecting Peltz and former company exec Jay Rasulo.

Persons: Bob Iger, Nelson Peltz, shoring, Peltz, “, Iger, ” Iger, Ron DeSantis, ”, Bob Chapek, Morgan Stanley, James Gorman, Jay Rasulo, ” Trian, It’s Organizations: New York CNN, Disney, ESPN, Florida Gov, Hulu, Comcast, CNBC, Google, Partners, Company, Dow Jones Industrial Locations: New York, Magic, —, refocusing

☆ Rippling CEO Parker Conrad dishes on why the startup is sitting on a massive $750 million war chest
▼ + stars: | 2024-02-14 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

This story is available exclusively to Business Insider subscribers. To this day, Rippling hasn't touched the money it raised in that emergency package, Conrad told Business Insider. Rippling will invest hundreds of millions of dollars from the balance sheet into research and development this year, according to CEO Parker Conrad. Parker Conrad says Rippling hasn't touched any of the venture capital it raised over the last two rounds. Shepherding the startup through this next growth phase is new chief product officer Eisar Lipkovitz, Rippling told Business Insider exclusively.

Persons: Parker Conrad, Conrad, Rippling hasn't, Kleiner Perkins, Rippling, Amy Osborne, Mamoon Hamid, they've, TechCrunch, Eisar Lipkovitz, Lipkovitz, Deel, Melia Russell Organizations: Business, paychecks, Bedrock, Washington Post, JPMorgan, Google Locations: Silicon, San Francisco, Asia, Lyft, Rippling

☆ Meet the Man Behind Litquidity, the Anonymous Instagram Account Dominating Wall Street
▼ + stars: | 2024-02-07 | by ( Reed Alexander | Hayley Cuccinello | ) www.businessinsider.com time to read: +26 min

The deck kicked off a game of one-upmanship among Wall Street banks trying to keep their employees happy. Lit capitalized on poking fun at Wall Street culture, selling $35 dad hats that read, "Do You Know Who My Father Is?" There have, of course, been endless rumors about Lit's identity, especially among Wall Street underlings. Wall Street underlings have speculated about Litquidity's identity for years. Basak, one attendee said, wanted to take a "wrecking ball through it all" and hold Wall Street heavy hitters accountable.

Persons: Goldman Sachs, I've, David Solomon, Litquidity, Goldman, Solomon, Evercore, Michael Kovac, Lit, Warburg Pincus, Jamie Dimon, Jamie Dimon's, Banksy, Bennett Jordan, who've, Lit's, — Mark Moran, —, Jefferies, Richard Handler, Spencer Platt, Isaac Laifer, Laifer, Handler, We'd, Henry, Hank, Medina, He's, he's, Jefferies Medina, Bart P, Fuchs, Karl Smith, Mark Moran, Moran, Bloomberg he'd, Zack DeZon, Getty Images Moran, Brian Hanly, Hanly, Sonali Basak, Angela Weiss, cryptocurrency, we'll, Mark, Medina's, weren't, CoinFLEX, Litquidity doesn't, Dave Portnoy, wasn't, Medina Ayden Syal, Kyle Zappitell, Zappitell, he'd, hasn't, Bennett Jordan —, Craig Sjodin, Litney, Paul Argenti, Wall Organizations: Goldman, New York Times, CNBC, Business, Bloomberg, Metropolitan Club of New, Nomura, Citigroup, Financial Times, Litney Partners, Whitney Partners, BI, ESPN, Litquidity, Centerview Partners, New York, Getty, Bain Capital, Litquidity Venture Partners, SEC, Cornell University, Wexford Capital —, Deutsche Bank, Deutsche, CFA, Getty Images, Bullish, Vice, Wall Street, Litquidity's, Manhattan's Rue, Fox Business, Litquidity Ventures, Coatue Management, SAFE, Soho House, Dartmouth University Locations: New York, Tribeca, Metropolitan Club of New York, Instagram, San Francisco, Medina, New York City, Miami, NoHo, Chad, Connecticut, Litquidity, Linktree, Soho

☆ Napoleon stranded a bunch of scientists in Egypt and now we have modern archaeology
▼ + stars: | 2024-01-30 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +5 min

Napoleon Bonaparte brought engineers, architects, and scientists when he invaded Egypt. In three stages, these "savants" meticulously illustrated the ruins of ancient Egypt. But one of his lesser-known offenses — abandoning a crew of scholars and scientists in Egypt — led to the unexpected byproduct of formal archaeology as we know it today. AdvertisementIt divided Egypt into ancient and modern times, and launched the modern vision of ancient Egypt as we know it today. The structures, symbols, and images of ancient Egypt became fashionable features of European art and architecture.

Persons: Napoleon Bonaparte, —, Egypt —, Ridley Scott, Napoleon, Mohamed Abd El Ghany, Nina Burleigh, Dominique, Vivant, Denon, savants, Napoleon's savants, Burleigh Organizations: Service, Scientific, Art Media, Egyptian Ministry of Tourism Locations: Egypt, France, Upper Egypt, Kings, Luxor, Karnak, Thebes, Edfu, Upper, Lower Egypt, Egyptian, Europe

☆ Gucci’s Reboot Brings Back Old-School Cool
▼ + stars: | 2024-01-16 | by ( Guy Trebay | ) www.nytimes.com time to read: +1 min

The headline was Gucci. Gucci is, in a way, the Ever Given of the personal luxury goods trade. With more than 500 stores worldwide and an estimated market value in 2022 of $35.3 billion, it is that skyscraper-size tanker, caught sideways. The entire fashion business took a hit during the pandemic and then bounced back, or seemed to, with a surprising resilience. The instincts that helped elevate him from journeyman accessories designer to star were already giving him the itch to move on.

Persons: Gucci, Alessandro Michele, —, Michele Locations: Suez, Florence

☆ Bill Belichick’s Best Partner Wasn’t Tom Brady - The New York Times
▼ + stars: | 2024-01-12 | by ( Jeff Benedict | ) www.nytimes.com time to read: +1 min

When Robert Kraft traded a first-round draft pick to the New York Jets in 2000 in exchange for the right to hire Bill Belichick, N.F.L. insiders considered it “an awfully steep price,” as one put it, and a journalist mocked him for being “snookered.”Convinced that Belichick was a coaching savant, Kraft ignored the naysayers. He had an undistinguished record as a head coach, and Kraft was a relatively new owner of a franchise that had never won a championship. Hours before Belichick’s first game as head coach of the New England Patriots on Sept. 3, 2000, he gave Kraft a gift: a vintage print of Ted Williams and Babe Ruth. On a nondescript card, Belichick scribbled, “Thanks for giving me the opportunity to coach your team.

Persons: Robert Kraft, Bill Belichick, N.F.L, “, Belichick, Kraft, Ted Williams, Babe Ruth, Belichick scribbled, ” Kraft Organizations: New York Jets, New England Patriots

☆ I made Ree Drummond's deviled eggs, but my grandmother's 5-step recipe with Dijon mustard and sandwich spread has the Pioneer Woman beat
▼ + stars: | 2023-12-05 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

I tried Ree Drummond's deviled egg recipe, which included white vinegar and sugar. I typically make my grandmother's "Fatboy's deviled eggs" each year for the holidays. AdvertisementRee Drummond is a food savant, but my grandmother's recipe takes the cake when it comes to deviled eggs. My grandmother Evelyn's recipe — "Fatboy's deviled eggs" — is a staple in the Edmonds family home during the holidays. After discovering Drummond's deviled egg recipe this fall, I decided to put it to the test.

Persons: Ree, —, Ree Drummond, Edmonds, It's, I'm, Drummond Organizations: Service

☆ ‘AKA Mr. Chow’ Review: Portrait of the Artist as a Restaurateur
▼ + stars: | 2023-10-20 | by ( John Anderson | ) www.wsj.com time to read: +1 min

Michael Chow Photo: HBOAmong his many talents, the celebrity restaurateur Michael Chow , the subject of “AKA Mr. Chow,” has the seemingly savant-ish ability to recall the first shot of any movie he’s seen. “Why are first scenes so important?” asks director Nick Hooker . “Is your birth important?” asks Mr. Chow. AKA Mr. Chow Sunday, 9 p.m., HBOA film-critic colleague once observed, or conceded, that few movies get any better after the first five minutes. Over the great operatic journey that is Mr. Chow’s life, can anything top the overture performed by this supremely self-confident, mildly abrasive, quasi-pugnacious but likable impresario-artist-actor and feeder of the elite?

Persons: Michael Chow, Chow, ”, “ Lawrence, Nick Hooker, “, Hooker, Jean Tsien, Chow — Organizations: HBO Locations: Northwest, Arabia

☆ Weight-loss drugs fuel boom for firms that fill syringes
▼ + stars: | 2023-10-09 | by ( Maggie Fick | ) www.reuters.com time to read: +6 min

[1/5] Catalent's automated visual inspection systems that check every pre-filled syringe to ensure product integrity are seen, in Brussels, Belgium, 2023. Eli Lilly's (LLY.N) Mounjaro is expected to be approved for weight-loss in the United States this year. The U.S. Inflation Reduction Act is also boosting development of biologic drugs, some of which are injected. Injectables are increasingly used in elderly care settings, and some new Alzheimer's and generic arthritis drugs are administered by injection. One healthcare investor said CDMOs' ability to boost capacity will determine how fast the obesity drug market grows.

Persons: Wegovy, it's, Savant, Morgan Stanley, Eli Lilly's, Mounjaro, Chris Chen, Cornell Stamoran, Fujifilm Diosynth, Germany's Vetter, Lilly, Marc Casper, CDMOs, Luke Sergott, Catalent, Catalent's Stamoran, Maggie Fick, Patrick Wingrove, Josephine Mason, Catherine Evans Organizations: REUTERS Acquire, Pfizer, HK, Fujifilm, Fujifilm Corp, Novo, Reuters, Research, Insight Partners, Barclays, Thomson Locations: Brussels, Belgium, Handout, United States, WuXi, Europe, GLP, Anagni, Italy, Bloomington , Indiana, U.S, New York

If it feels like the Baltimore Orioles have accomplished something historic these past couple years, there are some numbers that back that up. That was the New York Giants, way back at the beginning of the modern era. But Baltimore, which clinched a playoff berth Sunday, could still join the Giants with an improvement of over .300. There's actually a Baltimore connection to those New York Giants. The Baltimore franchise then moved to New York and became the Highlanders, who would eventually be called the Yankees.

Persons: There's, John McGraw, Babe Ruth's, Ruth, Freddie Freeman, Joe Medwick, Charlie Gehringer, Earl Webb, Todd Helton, Nick Castellanos, Brandon Woodruff, Woodruff, San Francisco, Savant, Wilmer Flores, J.D, Davis, LaMonte Wade Jr, ___ Organizations: Baltimore Orioles, Tampa Bay, AL East, Orioles, New York Giants, Giants, Baltimore, Highlanders, Boston Braves —, Braves, Cincinnati Reds —, Cincinnati, . New York Yankees, New York, Los Angeles Dodgers, Sunday, Rays, Brewers, NL Central, San, Cleveland, New York Yankees, Atlanta Locations: Baltimore, New York, ., Miami, Cleveland, Houston, St, Louis, Philadelphia

☆ A new audiobook of AI-generated poems has an unlikely narrator: Werner Herzog
▼ + stars: | 2023-08-16 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

Werner Herzog, acclaimed German director, narrated an audiobook of AI-generated poetry. The book was a collaboration between childhood friends Brent Katz, Josh Morgenthau, and Simon Rich who reconnected with Dan Selsam, another childhood friend and current OpenAI scientist, at a wedding, Katz told Insider over email. The resulting collection of dozens of poems released on August 1 is told from the AI's own perspective. After the book's publisher made contact with Herzog, Katz managed to connect with him directly over email. "On one performance (I forget the poem), he was so happy with his first take that he said, 'And in fact, I refuse to do it again,'" Katz told Insider of directing Herzog during recording.

Persons: Werner Herzog, Brent Katz, Josh Morgenthau, Simon Rich, Dan Selsam, Katz, Selsam, Morgenthau, Herzog, Stephen Hawking, Herzog didn't, OpenAI Organizations: Artificial, Morning, New York Times, Times Locations: Washington

☆ Bill Gates watched ChatGPT ace an AP Bio exam and went into 'a state of shock': 'Let's see where we can put it to good use'
▼ + stars: | 2023-08-11 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

Even tech icon Bill Gates says he was caught off-guard by the rapid development of artificial intelligence programs like ChatGPT. The story began last June when Gates first tested the AI-powered chatbot — developed by Microsoft partner OpenAI — and came away unimpressed. Two months later, OpenAI's developers came back, and Gates watched ChatGPT achieve the top score of five on the test. "I'm still, personally, in a state of shock at 'Wow, it is so good,'" Gates said. Still, the rapid development left Gates thoroughly impressed, and excited about the technology's potential applications: "Let's see where we can put it to good use," he said.

Persons: Bill Gates, Gates, Sal Khan, OpenAI —, Sam Altman, I'm Organizations: Khan, Microsoft, AP

☆ Sam Zell, billionaire real estate investor, dead at 81
▼ + stars: | 2023-05-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

Equity Residential, the company he founded decades ago, did not provide a cause of death but described Zell as an “iconic figure in real estate and throughout the corporate world.”Among his wide-ranging portfolio of investments were distressed assets in real estate and in media, including an ultimately disastrous bet on the Tribune Company. Zell had a personal net worth of $5.9 billion, according to the Bloomberg Billionaires Index. Zell had a penchant for scooping up cheap real estate and selling it later at a profit, a strategy he outlined in a 1978 article titled “The Grave Dancer,” which became his nickname in the industry. But Zell’s impressive track record of successful bets was marred by a brief, unsuccessful foray into media in 2007 when he orchestrated the $8.2 billion leveraged buyout of Tribune Company. In 2018, during the rise of the #MeToo movement, Zell sparked outrage by making a lewd comment about hiring women.

☆ Democratic insiders are all over the map about whether they'd prefer DeSantis or Trump versus Biden in 2024
▼ + stars: | 2023-04-28 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +6 min

Others want a rematch with the legally challenged Trump or say that the younger, lesser-known DeSantis would be a bigger threat to Biden. Democratic pollster Celinda Lake said she prefers Trump because Biden beat him in the 2020 presidential election and will "beat him again." Trump has proven he could turn out Republican voters and win the presidency, but he's under indictment and could face even more charges. "That said, this will be a tough race no matter who the Republican nominee is, and every Democrat needs to take it extremely seriously." And both DeSantis and Trump are pushing "extreme" agendas to try and "outmaneuver the other one."

Yogesh Raut on "Jeopardy!" Fans of the venerable answer-and-question show were introduced to Raut on Jan. 11 when he won the first of three games, which were taped in mid-November. That true quizzing talent isn't displayed on "Jeopardy!" Raut was annoyed that word leaked that another big name in the quiz community, Troy Meyer, was on the "Jeopardy!" It is fundamentally incompatible with incentivizing the next generation of quizzers to excel, and it is fundamentally incompatible with true social justice.”A "Jeopardy!"

☆ The biggest announcements from CES 2023
▼ + stars: | 2023-01-09 | by ( Harry Rabinowitz | Harry Rabinowitz Is A Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +7 min

Every year, the biggest brands in tech make their way to Las Vegas for the Consumer Electronics Show, or CES. TelevisionRoku, one of the top streaming platforms for smart TVs, announced that it is releasing its own Roku-branded televisions. Now, Roku will be launching its own brand, with Roku Select and Roku Plus TVs, alongside a Roku TV Wireless Soundbar. TCL, a top smart TV brand, is rebranding and overhauling its TV lineup. Now, all of its smart TVs will fall into two groups: the higher-end Q-Series and the budget-friendly S-Series.

☆ A mysterious 'Doe 183' is trying to keep Jeffrey Epstein documents under seal. Could it be Les Wexner?
▼ + stars: | 2023-01-06 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

"In the court's view, there's no reason to redact Doe 183 from the documents." And when Insider asked that lawyer about his work for Doe 183, a representative for Wexner responded, declining to comment. But if Doe 183 wins their fight to keep the documents redacted, their name and the context surrounding it would remain behind those blacked-out lines. While he never identified himself verbally, the transcript's cover sheet identifies him as an attorney representing Doe 183. Of those 21 documents, there are seven docket entries where Doe 183 is the sole Doe mentioned.

☆ Sam Bankman-Fried’s Dirty Political Donations
▼ + stars: | 2022-12-16 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

Celebrity crypto savant Sam Bankman-Fried is in a heap of trouble. Washington has its own giant FTX problem, in what now appears to be millions of dollars in dirty donations. It’s a donor scandal for the ages, and yet politicians are mum on what they intend to do about it. The country is learning more about FTX’s spectacular collapse, including the allegation that SBF stole billions from customers to prop up a side venture, Alameda Research. The SEC explains that FTX customer funds were diverted to Alameda to the extent that there was “no meaningful distinction,” and that SBF then used these “commingled FTX customers’ funds” to make “large political donations.” Put simply, SBF stands accused of using stolen money to fuel politics.

☆ Sam Bankman-Fried’s Crypto Crash
▼ + stars: | 2022-12-14 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

If the rise of Sam Bankman-Fried was a modern tale about cryptocurrency tokens and “effective altruism,” his fall seems to be as old as original sin. “This is really old-fashioned embezzlement,” John Ray , the caretaker CEO of the failed crypto exchange FTX, told the House on Tuesday. “This is just taking money from customers and using it for your own purpose, not sophisticated at all.”Mr. Bankman-Fried, FTX’s co-founder, was arrested Monday in the Bahamas and is expected to be extradited. SBF, as he is often called, has been on a media tour since FTX’s failure, and he portrays himself as a well-intentioned doofus savant who got in way over his head and—whoops—lost billions of dollars. The sloppiness of bookkeeping is true enough: Mr. Ray said invoices and expenses were communicated via Slack chats, and “they used QuickBooks.”

For years, in fact, Paula clownishly put all those larger cousins on notice, warning them that he’d one day beat them up. From the Bloomfield Tahi familyComing to the plate during the kickball game, Paula was chirping at an older cousin playing first base, who’d recently torn his A.C.L. From the Bloomfield Tahi familyPaula was a voraciously social teenager, a cannonball of comic, kinetic energy. From the Bloomfield Tahi familyTo lessen his boredom, the family treated Paula to a road trip to see a favorite uncle in California. He’d try to run off.”On Jan. 13, Paula Tupou Bloomfield Tahi was shot during an altercation with other teenagers near his school in West Valley City, Utah.

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