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☆ Shohei Ohtani: MLB two-way superstar entering ‘uncharted waters’ on brink of record-breaking contract
▼ + stars: | 2023-07-11 | by ( Sahil Kurup | ) edition.cnn.com time to read: +8 min

“The figures you hear mentioned, whether that be $50 million, $60 million, he will set a new standard. This season, he’s currently in the top three in both categories — Ohtani is doing things previously thought to be inconceivable in the sport. Steph Chambers/Getty Images“[Ohtani] increases interest in Japanese baseball — who’s going to be the next Ohtani?” Fellenzer said. It increases interest in Japanese baseball here. Ohtani receives his 2021 American League MVP trophy alongside his teammate and three-time MVP outfielder Mike Trout.

Persons: Shohei Ohtani, –, he’s, Jeffrey Fellenzer, Ohtani, Tim Heitman, “ Sho, ”, He’s, Dusty Baker, Yu Darvish, Hideo Nomo, Scott Miller, “ Nobody, Babe Ruth, Ruth, Steph Chambers, ” Fellenzer, Tommy John, — Ohtani, “, ” Ohtani, Mike Trout, Phil Nevin, we’ve, ” Nevin Organizations: CNN, ” University of Southern, CNN Sport, ”, Pacific League, Major League Baseball, LA Times, Los Angeles Angels, New York, Texas Rangers, ” Houston Astros, peerless, Los Angeles Dodgers, The Dodgers, Hokkaido, Ham Fighters, Dodgers, Seattle Mariners, Angels, MLB, American League, Kyodo, White Sox Locations: ” University of Southern California, America, Hokkaido Nippon, Japan

☆ Inside the rise of a Wall Street wunderkind
▼ + stars: | 2023-06-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Achieving success at an early age is impressive in any industry, but it's particularly awe-inspiring on Wall Street. Kuenzel, who started as an intern at hedge fund Citadel in 2018 and focused on quantitative research, spoke about his rise within Griffin's financial empire. It's a good lesson for how fixing issues at work is a surefire way to supercharge your career. The Fed and the SEC are investigating the work Goldman did with SVB in the lead-up to its failure, The Wall Street Journal reports. If you're suffering from pre-diabetes or obesity, intermittent fasting could be a good way to control your blood sugar.

Persons: Dan DeFrancesco, Wilhelm, we've, Peter Cade, Emmalyse Brownstein, Soeren Kuenzel, Ken Griffin's, Kuenzel, Griffin, Nancy Luna, Goldman Sachs, Adam Dell, Morgan Stanley, Crispin Odey, Goldman, Qi Tom Chen, Horace Mann School, Jeffrey Cane, Nathan Rennolds Organizations: Getty, Citadel Securities, Citadel, Bloomberg, Odey, Management, JPMorgan, SEC, Street, CNBC, Horace Mann, LinkedIn Locations: London, New York

☆ Harvey Pitt, S.E.C. Chair Who Resigned Amid Scandals, Dies at 78
▼ + stars: | 2023-06-02 | by ( Rob Copeland | ) www.nytimes.com time to read: +1 min

Harvey Pitt, a legal wunderkind who lasted just 18 months as chairman of the Securities and Exchange Commission under President George W. Bush, died on Tuesday in Washington. His death, in a hospital, came after a sudden illness, according to his family, which did not specify the ailment. Mr. Pitt’s career had three consecutive legs, any one of which alone might have been the pinnacle on a lesser résumé. He began his career at the S.E.C. After only three years, he left to represent corporate clients for the powerful law firm Fried Frank.

Persons: Harvey Pitt, George W, Bush, Pitt’s, Fried Frank, Sen, Charles Schumer, Pitt Organizations: Securities and Exchange Commission Locations: Washington, firm’s Washington, New York, U.S

Florida Governor Ron DeSantis speaks at a press conference at the American Police Hall of Fame & Museum in Titusville, May 1, 2023. Ron DeSantis, accusing the Republican leader of doubling down on his "retribution campaign" against the company by signing legislation to void Disney's development deals in Orlando. Disney's amended lawsuit also noted that Florida's Republican-led legislature passed legislation last week targeting Walt Disney World's monorail system. On Friday, the final day of the state's 2023 legislative session, DeSantis signed a bill that included language effectively targeting Disney's development contracts. Linda Stewart, a Democrat representing Florida's 13th Senate district and a staunch critic of DeSantis' actions against Disney, called the feud between DeSantis and Disney "insane" and laid blame with her Republican counterparts.

☆ The Smooth-Talking Republican Who Would Rule by Fiat
▼ + stars: | 2023-05-05 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +1 min

Vivek Ramaswamy, the Republican wunderkind running for his party’s presidential nomination, would like potential supporters to know he believes in the rule of law and the Constitution’s separation of powers — though his applications of such principles can seem selective. After intense study of the Constitution, Mr. Ramaswamy says he believes that the awesome powers of the presidency would allow him to abolish the Education Department “on Day 1,” part of an assault on the “administrative state” that his 2024 rival, Donald J. Trump, fell short on during Days 1 through 1,461 of his presidency. Never mind that the Constitution confers the power of the purse on Congress, and a subsequent law makes it illegal for the president not to spend that money. Mr. Ramaswamy also wants to eradicate teachers’ unions, though he concedes that they are governed by contracts with state and local governments. And he says he would unleash the military to stamp out the scourge of fentanyl coming across the Southern border, unworried by the Posse Comitatus Act of 1878, which prohibits the use of the military for civil law enforcement.

☆ He's played chess with Peter Thiel, sparred with Elon Musk and once, supposedly, stopped a plane crash: Inside Sam Altman's world, where truth is stranger than fiction
▼ + stars: | 2023-04-27 | by ( Melia Russell | Julia Black | ) www.businessinsider.com time to read: +41 min

But, "you do at some point need to start having contact with reality," he told Insider. The plan was still only a rough sketch, Blania told Insider, but that didn't seem to matter to his host. "He always wanted to understand everything at a very deep level," Thrun told Insider in an email. (When asked about guns, Altman told Insider he'd been "happy to have one both times my home was broken into while I was there.") When asked about this, Altman told Insider in an email: "i can guess what that's about; these stories grow crazily inflated over the years of getting re-told!

☆ Sam Altman is building his utopia, whether you want it or not
▼ + stars: | 2023-04-27 | by ( Melia Russell | Julia Black | ) www.businessinsider.com time to read: +41 min

Altman told Insider, "We debate our approach frequently and carefully." "I don't think anyone can lose your dad young and wish he didn't have more time with him," Altman told Insider. Altman told Insider that his thinking had evolved since those posts. (When asked about guns, Altman told Insider he'd been "happy to have one both times my home was broken into while I was there.") When asked about this, Altman told Insider in an email: "i can guess what that's about; these stories grow crazily inflated over the years of getting re-told!

NEW YORK, March 28 (Reuters) - Lawyers for Sam Bankman-Fried said they reached an agreement with U.S. prosecutors on Monday on revised bail conditions, after a judge raised the prospect of sending the indicted FTX cryptocurrency exchange founder to jail pending trial. The laptop will have monitoring software to track user activity and Bankman-Fried won't have administrative access to prevent tampering with the restrictions. In Monday's letter, Bankman-Fried's parents agreed to restrict his access to their devices, while also signing sworn affidavits to not bring prohibited electronic devices into their home. If there's reasonable suspicion of a violation, Bankman-Fried must submit his devices for a search, the letter added. But in January, federal prosecutors in Manhattan said Bankman-Fried attempted to contact current executives at now-bankrupt FTX.

☆ I Visited Miami After the Stock Market Crash, Crypto Bubble Pop
▼ + stars: | 2023-03-26 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

And if any city is the city where you can see just how remarkably things have shifted, it's also Miami. If the draw in the 1920s was imaginary land, Miami's bubble in the 2020s was driven by imaginary money — crypto. The newcomers — and the crypto kids, especially — believed they could master Miami as easily as they had mastered the markets. The new Miami money party started to run out of libations. "There were a lot of true believers in the Miami crypto scene.

☆ AI Tech Like ChaptGPT, Bing, Bard Is a Bigger Threat Than Social Media
▼ + stars: | 2023-03-14 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +13 min

Nowadays, the promise of social media as a unifying force for good has all but collapsed, and Zuckerberg is slashing thousands of jobs after his company's rocky pivot to the metaverse. Much like social media in 2012, the AI industry is standing on the precipice of immense change. And as Altman and his cohort charge ahead, AI could fundamentally reshape our economy and lives even more than social media. If social media helped expose the worst impulses of humanity on a mass scale, generative AI could be a turbocharger that accelerates the spread of our faults. Social media amplified society's issues, as Wooldridge puts it.

☆ Judge to weigh Bankman-Fried's trial schedule, bail conditions at hearing
▼ + stars: | 2023-03-10 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

NEW YORK, March 10 (Reuters) - A U.S. judge is expected on Friday to consider what restrictions Sam Bankman-Fried should face while free on bail, and whether the FTX cryptocurrency exchange founder's Oct. 2 fraud trial should be pushed back. In a letter to Kaplan on Wednesday, Bankman-Fried's lawyers said they may need more time than expected to review the evidence and prepare a defense in light of the new charges. Ellison and Wang, once among Bankman-Fried's closest associates, have pleaded guilty and agreed to cooperate with the government. Prosecutors, defense lawyers and Kaplan began revisiting Bankman-Fried's bail conditions after the government said he sought to contact FTX Chief Executive John Ray and an in-house lawyer in what prosecutors described as a possible attempt to tamper with witnesses. Defense lawyers said Bankman-Fried was trying to help, not interfere.

☆ Rublev edges wunderkind Rune with lucky net cord on match point
▼ + stars: | 2023-01-23 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

He slipped 5-0 behind in the breaker but roared back to lead 9-7 before ninth seed Rune saved two match points in another late twist. It took the net cord to separate them, with Rublev's final return clipping the net and popping over to leave the Danish 19-year-old no chance. After winning the second set to level the match, Rune was unable to run away with it. Rublev hung tough, saved two match points when serving to stay in the match at 6-5 and showed huge grit to stay alive in the tiebreak. "(The net cord) was probably the luckiest moment of my life."

☆ Meet Jesse Cohn, the hedge fund wunderkind building a campaign on Salesforce
▼ + stars: | 2023-01-23 | by ( Casey Sullivan | Bradley Saacks | ) www.businessinsider.com time to read: +10 min

One of the key players behind the campaign is 42-year-old Jesse Cohn, Paul Singer's right-hand man. Hedge fund Elliott Management has taken a multi-billion dollar stake in Salesforce, as the tech company deals with layoffs and a management shake-up. And Cohn, one of Elliott's chief agitators, has emerged as quarterback, announcing his respect for co-CEO Marc Benioff in a statement. "He said, 'Hey, let me talk to you,'" Knowles told BI in 2019. He had the files laid out on a conference-room table when the board met with Cohn in Elliott's New York office.

☆ How Charlie Javice's Frank Sale to JP Morgan Wound up in Allegations of Fraud
▼ + stars: | 2023-01-21 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +21 min

Her financial aid startup, Frank, was featured in the New York Times, CNBC and Wall Street Journal. After leaving the University of Pennsylvania's Wharton business school, Javice traded on her reputation, bolstered by glowing profiles, as a successful entrepreneur. In a 2018 interview with Insider, Javice claimed Frank secured an average of $28,000 for its users, and was helping students get "thousands off their tuition." "Charlie's first company fizzled after 18 months, so after losing all her investors' money, she convinced every one of them to fund her next company, Frank." At Frank, Javice admitted she sometimes painted a more positive picture of the company's health than was supported by the facts.

Layoffs have been hitting the ad industry as marketers trim spending amid a softening economy. Insider is tracking which ad and marketing companies have laid off staffers, and how many. Layoffs have been hitting the ad industry since early this year as marketers reined in their spending over growing economic concerns. Marketing is typically the first expense companies cut in downturns and times of uncertainty, and the industry's biggest trend forecasters have revised down their estimates for global ad revenue growth next year. Insider is tracking which companies across the ad industry are cutting staff and how many.

☆ Before JPMorgan accused Charlie Javice of inventing millions of fake customers, the Frank founder settled with the federal government over accusations she was misleading students
▼ + stars: | 2023-01-12 | by ( Katherine Long | ) www.businessinsider.com time to read: +5 min

Visitors to Frank's website could get the mistaken impression that the company was affiliated with the federal government, the Department of Education said in 2017. The Department argued that Frank's website was "likely to confuse consumers." The Department stated in a cease and desist letter that Frank could be misleading applicants looking for the government's official FAFSA website. On social media and elsewhere, Frank sometimes referred to the form as "Frank's FAFSA," according to the settlement. In numerous media interviews, including with Insider, Javice has cast herself as a mold-breaking entrepreneur.

☆ Mystery solved! We identified the big chonky ring that Sam Bankman-Fried wore to court.
▼ + stars: | 2023-01-05 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

On his right ring finger was a big honking metal ring. Indeed, the ring appears to be an MIT class ring, also known as the "brass rat." The beaver design for the MIT class ring, taken from the school's mascot, dates to 1930. The chair of the 2014 ring committee didn't immediately respond to Insider's request for comment for this story. A representative for Bankman-Fried responded to Insider's request for comment and confirmed Bankman-Fried was wearing an MIT class ring.

☆ 5 things wildly successful real-estate brokers do to get the most out of their days
▼ + stars: | 2022-12-31 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +7 min

Fellow New York-based Douglas Elliman agent Lisa Simonsen also had a former career in fitness. As such, the agent who sold more than $100 million in 2022 makes sure she works out in her building's gym, usually on a spin bike, every morning. McKenzie RyanFormer Junior Olympian and real-estate wunderkind McKenzie Ryan used to compete on the national level in rhythmic gymnastics. Serhant gets a new SUV every year "just to update it," though he said he makes sure his car and clothes are never nicer than his clients'. The Douglas Elliman agent knows what she has to do to succeed: She was the top-selling agent in Miami in 2021 with $750 million in transactions.

☆ Caroline Ellison, who has pleaded guilty to fraud in the FTX collapse, left behind a trail of hot takes about crypto, race science, and polyamory. Here are some of the most striking quotes.
▼ + stars: | 2022-12-22 | by ( Lakshmi Varanasi | Yoonji Han | Cheryl Teh | ) www.businessinsider.com time to read: +2 min

Caroline Ellison faces up to 110 years in prison after pleading guilty to seven charges, including fraud. Twitter and Tumblr accounts thought to be linked to Ellison contain musings about race science and gender roles. On December 18, Ellison struck a plea deal with prosecutors in the Southern District of New York, pleading guilty to seven charges including wire and securities fraud. According to Ellison's plea deal, she has agreed to provide prosecutors with evidence and "truthfully testify" about the FTX implosion during court trials. December 22, 2022: This story has been updated to reflect the details of Ellison's plea deal.

☆ The collapse of FTX has left many crypto investors without access to their cash. Meet one student who got $14,000 stuck on Sam Bankman-Fried's exchange.
▼ + stars: | 2022-12-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In light of the hubbub surrounding FTX and Sam Bankman-Fried, this morning I'm thinking about a quote by novelist G. Michael Hopf:"Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times." And that's the sense I got from speaking to one 26-year-old investor who lost a sizable chunk of his portfolio in FTX. I just caught up with FTX user Daniil Pemberton, who lost access to roughly $14,000 in funds when the crypto exchange imploded last month. Now, FTX users like Pemberton have been left with a hole in their pockets and faltering faith in the digital asset sector. Do you have a story to share about losing access to funds in FTX, or on how you're changing your investment strategy?

☆ Nobel economist Paul Krugman slams Elon Musk and Sam Bankman-Fried, and says we're living in an era of 'petulant oligarchs'
▼ + stars: | 2022-12-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Nobel laureate Paul Krugman slammed Elon Musk and Sam Bankman-Fried as "oligarchs" in an op-ed. His comments follow Musk's chaotic revamp of Twitter, a project that's sparked growing scrutiny over his leadership style and political tweets. The same narrative could also be applied to Sam Bankman-Fried, the disgraced crypto executive facing charges of fraud, money laundering, and conspiracy after the collapse of his crypto exchange, FTX. But the tarnished reputations of both Musk and Bankman-Fried could mean the allure of the "genius entrepreneur" has evaporated. "Musk and Bankman-Fried may end up doing a public service, by tarnishing the legend of the genius entrepreneur, which has done a great deal of harm," Krugman said.

Bankman-Fried and unnamed co-conspirators made "tens of millions of dollars in illegal campaign contributions" to both Democratic and Republican candidates and campaign committees, Damian Williams, the U.S. attorney for Southern New York, said at a news conference unveiling the eight-count criminal indictment, which included a campaign finance violation charge. "And all of this dirty money," Williams said, was used to "buy bipartisan influence and impact the direction of public policy in Washington." FTX boss Sam Bankman-Fried is escorted by police officers as he leaves court in Nassau, Bahamas on Dec. 13, 2022. The indictment alleges he also made illegal contributions through a corporation, which it does not name. Once believed to be a financial wunderkind, Bankman-Fried also faces a host of other charges.

☆ Disgraced FTX CEO Sam Bankman-Fried 'orchestrated yearslong fraud' on investors and customers, SEC and criminal charges say
▼ + stars: | 2022-12-13 | by ( Marlene Lenthang | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +8 min

Sam Bankman-Fried, the former CEO of cryptocurrency giant FTX, defrauded investors by funneling money into his private hedge fund and conspired to commit wire fraud against customers and lenders, federal authorities said Tuesday. The Manhattan panel indicted Bankman-Fried on eight counts: conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to defraud the United States and violate the campaign finance laws. $8 billion loss to customersThe wire fraud on lenders and customers started in or about 2019 and lasted through November, according to the filing. Separately, in a filing Tuesday also in the Southern District of New York, the SEC charged him with defrauding investors and enriching Alameda. FTX CEO pledges continued cooperationAlso Tuesday, the company’s new CEO, John J. Ray III, testified at a congressional hearing on FTX’s collapse and missteps.

☆ FTX's Sam Bankman-Fried is 'one of the greatest fraudsters in history' and a 'master manipulator,' Binance CEO says
▼ + stars: | 2022-12-07 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Binance's CEO says FTX founder Sam Bankman-Fried is "one of the greatest fraudsters in history." "FTX killed themselves (and their users) because they stole billions of dollars of user funds," the CEO said. Bankman-Fried chalks up FTX's collapse to accounting errors and denied allegations of the misuse of customer funds. "SBF is one of the greatest fraudsters in history, he is also a master manipulator when it comes to media and key opinion leaders." Bankman-Fried chalks up FTX's collapse to accounting errors and maintains he never intentionally misused funds or defrauded anyone.

Bankman-Fried could face a host of potential charges – civil and criminal – as well as private lawsuits from millions of FTX creditors, legal experts told CNBC. There are three different, possibly simultaneous legal threats that Bankman-Fried faces in the United States alone, Levin told CNBC. He told CNBC, "prosecutors would have to prove beyond a reasonable doubt that Bankman-Fried or his associates committed criminal fraud." (Carter was not an FTX investor, and told CNBC that his fund passed on early FTX rounds.) "People should not jump to the conclusion that something is not happening just because it has not been publicly disclosed," Levin told CNBC.

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