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☆ OpenAI's power players: Meet the 20 leaders helping shape the future of the AI giant
▼ + stars: | 2024-09-18 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +18 min

Last November, the sudden ouster of CEO Sam Altman and the resulting revolt by most of its employees cast doubts on the future of the world's most prominent AI company. While by no means a comprehensive list, below are some of the key power players who are helping to determine OpenAI's future. He took over for his former boss, Jason Kwon, who has since become the company's chief strategy officer. She's also been referred to as OpenAI's "minister of truth" for her efforts to ensure the company's AI products aren't deceptive or biased. ResearchJakub Pachocki, Chief ScientistRelated storiesPachocki joined OpenAI's research in 2017 after completing a PhD in computer science at Carnegie Mellon University.

Persons: —, Sam Altman, OpenAI, Sarah Friar, Friar, Goldman Sachs, She's, Jason Kwon, Kwon, Anna Makanju, Global Affairs Chris Lehane, Che Cheng, OpenAI's, Cheng, Mira Murati, Murati, Kevin Weil, Weil, Instagram, Peter Welinder, Peter Deng, Research Jakub Pachocki, Pachocki, Ilya Sutkever, Ilya, Mark Chen, Chen, Bob McGrew, Sam Altman's, Lilian Weng, Weng, Aleksandr Madry, Barret Zoph, John Schulman, Zoph, Alec Radford, Radford, Zico Kolter, Kolter, Paul Nakasone, Bret Taylor, Taylor, He's, Larry Summers, Fidji Simo, Melinda Gates, Nicole Seligman, Adam D'Angelo, Quora, Altman, D'Angelo, Andrea Appella, Haidee Schwartz, Schwartz, Akin Gump, She'll, Heather Whitney, Whitney, Morrison Foerster, Makanju, Sam, Biden, Chris Lehane, Lehane, Clinton Organizations: Service, OpenAI, Business, Microsoft, Apple, Google, Khosla Ventures, Global, Global Affairs, Amazon, supercomputing, Tesla, Meta, Twitter, ChatGPT Enterprise, Research, Carnegie Mellon University, MIT, Facebook, Security, Machine Learning Department, Carnegie Mellon Carnegie Mellon, Stanford, CMU, Safety, Security Committee, US Army, NSA, US Cyber Command, Defense Department, U.S, Melinda Gates Foundation, Global Competition, Netflix, Century Fox, Competition, Federal Trade Commission, New York Times, Harvard Law School, University of Chicago Law School, NYU, Canada, Global Policy, Public Affairs, House, Newsweek Locations: Europe, Washington, OpenAI, Silicon, Middle East, Asia, London, Chan, Airbnb

☆ Trump-supporting hedge fund billionaire says he'll pull his money out of the market if Harris wins the election
▼ + stars: | 2024-09-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Trump-supporting hedge fund billionaire criticized Harris' tax plans on a Fox Business segment. Paulson said a proposed tax on unrealized gains would "could mass selling of almost everything." AdvertisementBillionaire hedge fund manager and Trump donor John Paulson told Fox Business that he will sell his stocks if Kamala Harris wins the presidency in November. Paulson was particularly focused on Harris' proposal to levy a 25% tax on unrealized gains for individuals worth more than $100 million. AdvertisementBillionaire Mark Cuban took to X, formerly Twitter, to compare how businesses would do between Harris' tax policy and Trump's plans for broad-sweeping tariffs, concluding that Harris would offer more in after-tax profit.

Persons: John Paulson, Kamala Harris, Harris, Paulson, —, I'd, Kent Smetters, Donald Trump, Mark Cuban Organizations: Trump, Fox, Service, Billionaire, Fox Business, Penn Wharton Budget, Business, Biden, Jobs, Republican

☆ A secretive Russian submarine unit could sabotage the subsea network of cables that powers the internet
▼ + stars: | 2024-09-17 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Read previewRussia's threat to the subsea cables the West relies on for the internet is growing more acute amid surveillance from a specialist undersea sabotage unit, a NATO official said. "Allies have long warned of the risk that Russian spy ships and sabotage vessels patrolling subsea cable routes could pose to critical underwater infrastructure." Known by its Russian acronym, GUGI, the unit's goal is to surveil and possibly destroy the undersea cables the West relies on for the internet. But as the world has become more dependent on internet data, the potential for disruption caused by sabotage has become greater. Sybille Reuter via Getty imagesThere is already evidence that Russian units may have tampered with undersea cables, with experts saying that Russian units likely played a role in the disappearance of miles of the cables near Lofoten off the coast of Norway in 2021.

Persons: —, Dmitry Medvedev, Sidharth, GUGI, Kaushal, Sybille Reuter, Mark Cancian Organizations: Service, NATO, Business, Russia's General Staff, Directorate, Allies, CNN, General Staff, Research, Pentagon, Russia, Russian Ministry of Defense, Getty, CSIS, Atlantic Council Locations: Ukraine, Russia, Europe, North America, Lofoten, Norway, NATO, Washington ,

☆ Harris can chart her own path with the top regulators — and Big Business hopes she's on their side
▼ + stars: | 2024-09-16 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

Chris Larsen, the billionaire founder of blockchain payments company Ripple who is among the execs to endorse Harris, told Business Insider he wants her to make different appointments if she wins. "The way that they have already been interacting with business leaders is a compelling indication of where things could go in the future," Levie told Business Insider. Kovacic previously told Business Insider that Harris' relationship to economic progressives like Warren remains unclear. "It's not as though they think she will simply be an agent of Big Tech," he previously told Business Insider. "In the next four years, we'll be dealing with major policy subjects that relate to the next many decades of innovation," he told Business Insider.

Persons: —, Joe Biden, hamstrung, he'd, Sen, Elizabeth Warren of, Biden, Warren, Warren's, Lina Khan, Gary Gensler, Kamala Harris, Khan, William Kovacic, That's, Harris, Adam Kovacevich, Elizabeth Warren, Kovacevich, Kamala Harris doesn't, Politico, winced, Aaron Levie, Arati Prabhakar, Chris Larsen, Larsen, Catalini, Gensler, Dallas Mavericks Mark Cuban, Levie, Kovacic, Obama, Douglas Farrar, we'll Organizations: Service, White, Democratic, Business, Federal Trade Commission, Securities, Exchange, George Washington University, of, Consumers Bank Association, Science, Technology, Bloomberg, MIT Cryptoeconomics, SEC, Dallas Mavericks, FTC, Democratic Party, Warren, Biden, Big Tech, Harris Locations: Elizabeth Warren of Massachusetts, Biden's, Harris, California, Gensler

☆ Mark Cuban says he would buy both Fox News and X if he had an in
▼ + stars: | 2024-09-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Mark Cuban says he would take over Fox News and X, formerly Twitter, if he could. Fox News is too expensive and Elon Musk is unlikely to sell X, Cuban told Wired's Lauren Goode. Advertisement"Shark Tank" star Mark Cuban says he would buy Fox News and X if he could. "If I had enough money to do it, which I don't, I'd buy it in a heartbeat," Cuban said of purchasing Fox News. Buying Fox News, Cuban said earlier in his interview, would serve as an antidote to a demographic he calls the "Fox News generation."

Persons: Mark Cuban, Elon Musk, Cuban, Wired's Lauren Goode, — Organizations: Fox News, Elon, Service, Wired, Buying Fox News, Business

☆ Mark Cuban says he doesn't plan to run for office when he can make game-changing moves without being president
▼ + stars: | 2024-09-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Mark Cuban says he doesn't plan to enter politics. "I can do more from the private sector," Cuban told Goode. AdvertisementBillionaire investor Mark Cuban says he isn't interested in running for office. "No, hell no," Cuban told Wired's Lauren Goode in an interview published Thursday. I can do more from the private sector," Cuban told Goode.

Persons: Mark Cuban, Wired's Lauren Goode, Cuban, Goode, — Organizations: Service, Business

☆ Hedge fund billionaire and Trump donor John Paulson says market would 'crash' under Harris tax plans
▼ + stars: | 2024-09-13 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

"I think if they implement those policies, we'll see a crash in the markets, no question about it." Meanwhile, Harris previously endorsed the tax increases proposed by Biden that include a 25% tax on unrealized gains for households worth at least $100 million, known as the billionaire minimum tax. However, people close to the Harris campaign, including investor Mark Cuban, have said she has no interest in taxing unrealized gains and there are doubts if any such plan could make it through Congress. The 68-year-old investor believes the economy could quickly tip into a recession as well if the specific plan to tax unrealized gains were to be implemented. The investor also said the lower taxes would spark economic gains that help raise revenues and close the deficit gap.

Persons: John Paulson, Donald Trump, Kamala Harris, Paulson, Sara Eisen, Joe Biden, Harris, Biden, Mark Cuban, …, Trump Organizations: Democratic, Trump, CNBC

☆ Mark Cuban says he doesn't hate Donald Trump, he just thinks the man was and will be a 'lousy president'
▼ + stars: | 2024-09-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Mark Cuban says he doesn't hate Donald Trump. The "Shark Tank" star endorsed Kamala Harris and has been a vocal critic of Trump's policies. I just think he was and would be a lousy president," Cuban said. AdvertisementMark Cuban is backing Vice President Kamala Harris this election, but the billionaire says he doesn't hate her opponent, former President Donald Trump. The "Shark Tank" star has been a vocal critic of the Republican nominee's candidacy and policies.

Persons: Mark Cuban, Donald Trump, Kamala Harris, —, Trump Organizations: Service, Republican, Cuban, Business Locations: Cuban

☆ PS5 Pro: Sony unveils faster, more powerful PlayStation console, pre-orders to begin September 26
▼ + stars: | 2024-09-11 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +1 min

The PS5 Pro will go on sale on November 7 at $700, about 40% more expensive than the PS 5 when it launched in 2020, Sony said on Tuesday. The newest console will have much more powerful computing power, allowing up to 45% faster rendering for game play, Mark Cerny, lead architect for PS5 Pro revealed in a video presentation. “Simply put, it’s the most powerful console we’ve ever built,” he said. Sales of the PS5 have lagged behind its predecessor, the PS4, of which more than 114 million units had been sold since its launch in 2013. The PS4 had dominated the gaming world and far outpaced its rival Xbox One developed by Microsoft Gaming.

Persons: Mark Cerny, ” Organizations: CNN, Sony, Reuters, Xbox, Microsoft Gaming

☆ Mark Cuban is lauding Kamala Harris for joining him in his big fight to lower prescription drug prices
▼ + stars: | 2024-09-11 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Vice President Kamala Harris unveiled her policy platform on her campaign website on Sunday. Harris said she wants to lower drug prices "by taking on pharmacy middlemen." It appeared to cheer Mark Cuban, who's been taking on pharma companies with his own, Cost Plus Drugs. AdvertisementVice President Kamala Harris wants to lower drug prices, and billionaire investor Mark Cuban is all for it. The "Shark Tank" star then proceeded to quote part of Harris' policy position on drug prices in the same post.

Persons: Kamala Harris, Harris, Mark Cuban, who's, —, Joe Biden Organizations: pharma, Service, Democratic, Business

☆ Campbell Soup Company CEO Mark Clouse goes one-on-one with Jim Cramer
▼ + stars: | 2024-09-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Campbell Soup Company CEO Mark Clouse goes one-on-one with Jim CramerCampbell Soup Company President and CEO Mark Clouse joins 'Mad Money' host Jim Cramer to talk its quarterly results, the Rao's brand, and more.

Persons: Campbell, Mark Clouse, Jim Cramer Campbell, Jim Cramer Organizations: Campbell Soup, Jim Cramer Campbell Soup Company

☆ Trump's tariffs would eat up time and money at even the smallest business, Mark Cuban says
▼ + stars: | 2024-09-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMark Cuban has warned that Trump's plan to impose sweeping tariffs on US imports would burden even tiny businesses with expensive, arduous compliance. Related storiesHe was critical of Trump's tariffs on China during his time in the White House and has slammed the Republican candidate's threat of more of the same. "Tariffs are the worst possible incentive for all but a few products," he said, adding that they "almost always" cost consumers more money. Tariff pain and small business woePaul Krugman has been vocally against plans for fresh tariffs if Trump wins in November.

Persons: —, Cuban, Elon Musk's, Grok, Trump, He's, Kamala Harris, Paul Krugman, what's, Kevin O'Leary Organizations: Service, Business, Cuban, Trump, Republican, Dallas Mavericks, Yahoo, White, Democratic, Getty Locations: Cuban, China, Wisconsin

☆ Campbell is dropping the ‘Soup’ from its name
▼ + stars: | 2024-09-10 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

New York CNN —No more soup for the Campbell’s company. The 155-year-old Campbell Soup Company plans to drop “soup” from its corporate name, rebranding as The Campbell’s Company. In addition to its lineup of soups, Campbell now owns snack brands like Goldfish, Snyder’s of Hanover, Cape Cod, Pepperidge Farm and others. Campbell also recently bought Sovos Brands, maker of popular Italian food brands like Rao’s sauces. Although soup is an important part of Campbell’s business, it’s now a smaller portion of its sales.

Persons: Campbell, ” Campbell, Mark Clouse, it’s, ” Kellanova Organizations: New, New York CNN, Campbell Soup Company, Campbell’s, Sovos Brands Locations: New York, Hanover , Cape Cod

☆ Mark Cuban defends Harris, says people who don't want a presidential candidate 'capable of hugging' should 'seek psychological help'
▼ + stars: | 2024-09-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Conservative commentator Ben Shapiro criticized a video of Kamala Harris hugging her supporter. "If you want your presidential candidate to hug you, please seek psychological help," Shapiro said. Mark Cuban slammed Shapiro's remarks while defending Harris. The "Shark Tank" star made the remarks in defense of Vice President Kamala Harris after conservative commentator Ben Shapiro criticized a video of Harris hugging a supporter. "If you want your presidential candidate to hug you, please seek psychological help," Shapiro wrote in an X post on Monday.

Persons: Ben Shapiro, Kamala Harris, Shapiro, Mark Cuban, Shapiro's, Harris, — Organizations: Service, Business

☆ Money market funds hit another record high — but experts warn it's time to move out of cash. Where they see opportunity
▼ + stars: | 2024-09-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Assets in money market funds hit $6.3 trillion the week that ended Wednesday, another record high, according to the Investment Company Institute . The annualized 7-day yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.08%. History shows that when investors do move out of money market funds, they move into fixed income over equities, he said. Institutional investors will also continue to move into money market funds as the Fed cuts rates because any cash they have in direct money market investments, such as Treasury bills, will be hit by rate cuts quicker than money market funds, explained Peter Crane, founder of Crane Data, a firm that tracks the industry. Once you have the appropriate cash needs set aside, consider moving any excess funds into fixed income, Jenkin said.

Persons: Mark Cabana, Peter Crane, Crane, Ted Jenkin, Jenkin, Leslie Falconio, Fannie Mae, Freddie Mac, Ginnie Mae, Falconio Organizations: Investment Company Institute, Bank of America, Federal Reserve, Institutional, Crane, CNBC, American Express, Bread Financial, UBS, U.S . Locations: UBS Americas

☆ Tech and business leaders will be looking for 3 things during the Harris-Trump debate
▼ + stars: | 2024-09-09 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

And that really, for tech, is going to determine what matters," he told Business Insider. "That was a clear effort to court business and tech," Tusk said. "That was really eye-opening, because that is not usually thought of as a business issue, it's thought of as a social issue," Snyder told Business Insider. But business and tech leaders will be looking at more than just policy on Tuesday night. AdvertisementLarsen believes that Harris may be able to provide the country with the reset that he and other business leaders are looking for.

Persons: —, Kamala Harris, Donald Trump, Harris, Joe Biden, Chris Larsen, Biden, Larsen, Bradley Tusk, Gary Gensler, Jordan Nof, Tusk, Gary Gensler's, Kieran Snyder, Snyder, Lina Khan, she's, Nof, Trump, Mark Cuban, Aaron Levie, Roe, it's Organizations: Service, Democratic National Convention, Business, Industry, Venture Partners, Democratic, Securities and Exchange Commission, Tusk Venture, SEC, Silicon, Federal Trade Commission, FTC, Wall Street Journal Locations: California, Silicon, U.S, China

☆ Ukraine started this year on the brink of disaster. A lot has changed since.
▼ + stars: | 2024-09-09 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +9 min

Getting F-16s and long-awaited weaponsDelays in getting Western equipment have long been a source of frustration for Ukraine. Western allies lifted some restrictions in May, allowing Ukraine to strike Russian troops building up at its borders. AdvertisementTaking the war inside RussiaThe biggest change this year is that Ukraine altered the dynamics of the conflict by launching a surprise attack on Russia's Kursk region. In just two weeks, starting on August 6, Ukraine claims its forces took more territory in Kursk than Russia had since the beginning of 2024. Ukraine is "losing territory and may suffer a breakthrough," Benjamin Friedman, policy director at the Defense Priorities think tank, told BI.

Persons: —, Abishur Prakash, Volodymyr Zelenskyy, Zelenskyy, Volodymyr Zelenskyi, Vitalii, Mark Temnycky, it's, Gabrielius Landsbergis, Ukraine wouldn't, Mark Cancian, year's, Putin, Joe Biden, Benjamin Friedman, Michael Kofman, Rob Lee, Prakash Organizations: Service, Russia, Republican, Business, Inc, Reuters, Army Tactical Missile Systems, Getty, Council's Eurasia, Times, Institute for, American Enterprise, Air Assault Brigade, REUTERS, US Marine Corps, Center for Strategic, International Studies, CNN, Defense, Carnegie Endowment, International Peace, Foreign Policy Research Institute, Foreign, Kyiv Locations: Ukraine, Russia, Russian, Kursk, Toronto, Kharkiv, London, Russia's Kursk, Malaya Loknya, Kursk Region, REUTERS Russia, Kyiv

☆ 'Go higher': Bernie Sanders urges Harris to raise 28% capital gains tax rate proposal
▼ + stars: | 2024-09-08 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Sen. Bernie Sanders, I-Vt., on Sunday said Vice President Kamala Harris should increase her proposed 28% tax rate on long-term capital gains, marking his latest divergence with the Democratic presidential nominee's economic platform. "I would go higher than that," Sanders told NBC's "Meet the Press" of Harris' proposed capital gains tax rate. Harris on Wednesday announced her plan for a 28% tax on long-term capital gains, assets that are owned for more than one year, an increase from the current maximum rate of 20%. President Joe Biden previously proposed a capital gains tax rate of 39.6% in his fiscal 2025 budget. In 2016, Sanders campaigned for the Democratic presidential nomination with an even higher desired rate of 54.2%.

Persons: Bernie Sanders, Sen, Kamala Harris, Sanders, NBC's, Harris, Joe Biden, Mark Cuban, Reid Hoffman, Biden Organizations: Democratic National Convention, Sunday, Democratic, Wednesday, LinkedIn, Democratic Party, Republican Party Locations: Chicago , Illinois, U.S

☆ Ukrainian forces in Kursk are readying for a long fight and may plan to 'bleed' the Russians just like in Ukraine, expert says
▼ + stars: | 2024-09-07 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +6 min

That figure is more than the amount of territory Russia has seized in Ukraine so far this year. AdvertisementThat's a rate of more than 1,100 casualties a day, and there are indications Russian forces are continuing to take heavy losses. A pair of Ukrainian soldiers walk in the Ukrainian-controlled city of Sudzha in Russia's Kursk region. But he said there's also a danger that Ukraine's forces could get overextended and "get too widely spaced that the Russians can take advantage of it." Furthermore, this unexpected invasion of Russian territory has allowed Ukraine to regain the initiative after months in a grueling defensive position.

Persons: —, Volodymyr Zelenskyy, Fabien Nachi, Matthew Savill, David Cohen, Michael Bohnert, Savill, Ed Ram, Mark Cancian, there's, Cancian, Vladimir Putin Organizations: Service, Business, NBC, Getty, Royal United Services Institute, UK Ministry of Defence, Russia, Ukraine, CIA, RAND Corporation, Washington, Marine, Center for Strategic, International Studies Locations: Russia's Kursk, Russia, Ukraine, Kursk, Sudzha, Ukrainian

☆ Top 10 people most likely to reach trillionaire status
▼ + stars: | 2024-09-06 | by ( Robert Frank | ) www.nbcnews.com time to read: +3 min

According to a new report from Informa Connect Academy, which predicts trillionaire status based on average annual growth rate in wealth, Tesla CEO Elon Musk will likely be the first trillionaire. Musk is currently the world’s richest person, with $251 billion, according to the Bloomberg Billionaires Index. The second to reach trillionaire status, according to the report, will be India’s Gautam Adani, founder of the Adani Group conglomerate. If Adani maintains his recent annual growth rate of 123%, the report says he will be a trillionaire in 2028. The report predicts Pangestu could reach trillionaire status by 2028.

Persons: ”, John D, Rockefeller, Berkshire Hathaway, Warren Buffett’s, Elon Musk, Musk, Gautam Adani, Adani, Jensen Huang, Pangestu, Bernard Arnault, Mark Zuckerberg, Jeff Bezos, wouldn’t, Larry Page, Sergey Brin Organizations: “, New York Times, Berkshire, Nvidia, Informa Connect Academy, Bloomberg, Connect, Adani Group, Barito, Meta, Google

☆ Eighty-eight corporate leaders endorse Harris in new letter, including CEOs of Yelp, Box
▼ + stars: | 2024-09-06 | by ( Megan Cassella | In | ) www.cnbc.com time to read: +2 min

WASHINGTON — Eighty-eight current and former top executives from across corporate America have endorsed Vice President Kamala Harris for president in a new letter shared exclusively with CNBC. Among the signers are several high-profile CEOs of public companies, including Aaron Levie of Box , Jeremy Stoppelman of Yelp and Michael Lynton, chairman of Snap . Other signers appear to be issuing their first public endorsements of Harris since she became the de facto Democratic nominee in July. They include James Murdoch, former CEO of 21st Century Fox and an heir to the Murdoch family media empire, and crypto executive Chris Larsen, co-founder of the Ripple blockchain platform. Still more are prominent in Silicon Valley, including the venture capitalist Ron Conway, entrepreneur Mark Cuban and former LinkedIn CEO Reid Hoffman.

Persons: WASHINGTON —, Kamala Harris, Aaron Levie, Jeremy Stoppelman, Yelp, Michael Lynton, Harris, James Murdoch, Murdoch, Chris Larsen, Lynn Forester de Rothschild, José E, Feliciano, Twilio, Jeff Lawson, Ted Leonsis, Kleiner Perkins, John Doerr, Deven Parekh, Jeffrey Katzenberg, Wndr, Laurene Powell Jobs, Dustin Moskovitz, Magic Johnson, Tony James, Blackstone, Bruce Heyman, Goldman Sachs, Peter Orszag, Steve Westly, Ron Conway, Mark Cuban, Reid Hoffman Organizations: WASHINGTON, CNBC, Democratic, Century Fox, Washington Wizards, WNBA's Mystics, NHL's Washington Capitals, Walt Disney Studios, Facebook, NBA Hall of Famer, Jefferson, Lazard, Westly, Tesla Locations: America, California, Capital, Silicon Valley

☆ Dozens of business leaders endorse Kamala Harris for president
▼ + stars: | 2024-09-06 | by ( Liam Reilly | Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —Dozens of business leaders are throwing their weight behind Vice President Kamala Harris, saying she is the stronger candidate for the American economy and the future of democracy. In a three-page letter, a group of 88 business leaders — including high-profile current and former executives from major public companies across tech, media, and finance — emphasized that they believe a Harris administration can better nurture the private sector. The endorsements underscore the support Harris has not only in Silicon Valley, a traditional Democratic stronghold, but in some corners on Wall Street and at some consumer-facing companies. On the campaign trail, Harris has positioned herself as perhaps friendlier to business than President Joe Biden. The letter is a vote of confidence for Harris as she and former President Donald Trump appear neck and neck ahead of the November election.

Persons: Kamala Harris, —, Harris, “, James Murdoch, Mark Cuban, Reid Hoffman, Rupert Murdoch, Michael Lynton, Jeremy Stoppelman, Hoffman, Jeff Lawson, Laurene Powell Jobs, Peter Chernin, Jeffrey Katzenberg, Joe Biden, Trump, Elon Musk, David Sacks, San Francisco, Doug Leone, Joe Lonsdale, Peter Thiel, Donald Trump Organizations: CNN, CNBC, Democratic, Century Fox, Emerson Collective, TCG, Fox, Walt Disney Studios, Trump, San, Republican National Convention, America PAC, Sequoia Capital, Palantir, ABC Locations: Silicon Valley, United States

☆ Mark Cuban says Harris won't tax unrealized capital gains: 'Not going to happen'
▼ + stars: | 2024-09-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Billionaire investor Mark Cuban on Thursday insisted that Democratic presidential nominee Kamala Harris would not tax unrealized gains as president. Cuban, who says he speaks with Harris' team frequently, maintained to CNBC that she is not interested in taxing unrealized gains. He cautioned, "I'm not going to speak for the vice president, she makes the final decision." Harris, who took over the Democratic ticket less than four months before Election Day, has not explicitly ditched the plan to tax unrealized gains. Harris, said Cuban, is "starting from the Biden plan as a starting point, but that's not necessarily her ending point."

Persons: Mark Cuban, Kamala Harris, I've, it's, Harris, I'm, Biden, Cuban's, Joe Biden, that's, Donald Trump Organizations: Democratic, CNBC, Republican, Democrat, Biden

☆ 2 friends quit their healthcare jobs to run a dating-app startup. Here's how they scaled to 60,000 users.
▼ + stars: | 2024-09-04 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

This as-told-to essay is based on a conversation with Julie Griggs and Danielle Dietzek, the founders of the dating app Fourplay. Over 30 guys in the first week told us this was so much fun and a better way to date. And from there, we Googled how to get an app started. And if you keep going, your app is going to totally break." I was still working as a PA and got a text from friends saying to turn on the show.

Persons: Julie Griggs, Danielle Dietzek, Griggs, Julie, Danielle, it's, iMessage, Mark Cuban, I've, We've, they've, we'd, Kelly, Ryan Organizations: Service, YouTube Locations: WhatsApp

☆ Lionsgate Financing Partner Breaks Down Film and TV Funding Venture
▼ + stars: | 2024-08-28 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Film and TV investor Content Partners just announced a new financing arm at a time when some institutional investors are fleeing Hollywood. It kicked off with a deal providing debt financing to Media Capital Technologies to support its backing of Lionsgate's film slate. Content Partners Capital (CPC) is targeting up to five deals a year of up to $100 million each in debt financing for film and TV companies. Lordo said Content Partners saw a void to help entertainment companies that are stuck in a financing bind, unable to get bank or private-equity backing. The era of Peak TV is over: Big entertainment companies have reduced spending as streaming hasn't made up for losses in linear TV.

Persons: there's, Alphonse Lordo, Lordo, they've, Mark Cuban, Todd Wagner, It's Organizations: Service, Content Partners, Media Capital Technologies, Lionsgate, Starz, Business, Content Partners Capital, CPC, Truist Securities, Partners, Monroe, Fortress Investment Group, Media, Revolution Studios, CSI television Locations: Hollywood

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