DIRS.INFO The most relevant business & tech news

☆ 2 Crypto lender BlockFi files for Chapter 11
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +4 min

It listed crypto exchange FTX as its second-largest creditor, with $275 million owed on a loan extended earlier this year. COMMENTS:MARTHA REYES-HULME, HEAD OF RESEARCH, BEQUANT, LONDON"The BlockFi bankruptcy is a sad chapter in the short history of our industry that has forced participants to be more mindful of risk management, counterparty risk, and governance. MONSUR HUSSAIN, SENIOR DIRECTOR, FITCH RATINGS, LONDON“BlockFi’s Chapter 11 restructuring underscores significant asset contagion risks associated with the crypto ecosystem, and, potentially, deficient risk management processes. It was yet another example of neglected risk management when prices were going up, as crypto winter hit those that took on the most counterparty risk are getting exposed." "From a customer standpoint it serves as another reminder to be skeptical of any crypto yield products on offer, particularly those that sound too good to be true.

☆ Mark Cuban still believes in crypto's fundamental value but thinks FTX's Sam Bankman-Fried is headed for jail
▼ + stars: | 2022-11-28 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Billionaire investor Mark Cuban isn't giving up on cryptocurrencies despite the collapse of FTX. He told TMZ on Saturday that crypto still has underlying value, urging people to "separate the signal from the noise." As for FTX founder Sam Bankman-Fried, Cuban said "I don't know all the details, but if I were him, I'd be afraid of going to jail for a long time." The billionaire owner of the Dallas Mavericks NBA team and "Shark Tank" investor told TMZ on Saturday that faith in fundamentals outweigh the short-term turbulence. Cuban also touched on Bankman-Fried, and said that the former FTX chief executive should be worried about potential jail time.

☆ 3 Crypto lender BlockFi files for Chapter 11
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +6 min

It listed crypto exchange FTX as its second-largest creditor, with $275 million owed on a loan extended earlier this year. MARTHA REYES-HULME, HEAD OF RESEARCH, BEQUANT, LONDON"The BlockFi bankruptcy is a sad chapter in the short history of our industry that has forced participants to be more mindful of risk management, counterparty risk, and governance. MONSUR HUSSAIN, SENIOR DIRECTOR, FITCH RATINGS, LONDON“BlockFi’s Chapter 11 restructuring underscores significant asset contagion risks associated with the crypto ecosystem, and, potentially, deficient risk management processes. The decentralized finance models used proper collateralization and they're intact. It was yet another example of neglected risk management when prices were going up, as crypto winter hit those that took on the most counterparty risk are getting exposed."

☆ A look back at Elon Musk's chaotic first month at Twitter
▼ + stars: | 2022-11-27 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +9 min

CNN —Sunday officially marks one month since the world’s richest man took the helm at Twitter. After spending months embroiled in an unsuccessful legal battle to get out of his initial proposal to buy Twitter, Musk made his first splashy entrance into the company’s offices on Oct. 26, carrying a sink. (In a video of the incident shared on Twitter, he wrote: “Entering Twitter HQ – let that sink in!) In another dramatic move by the new boss, Musk publicly fired a software engineer who had survived the initial round of cuts, but who then questioned Musk on Twitter. Musk goes onto to grant ‘amnesty’ to most previously banned accountsAfter conducting yet another Twitter poll, Musk said on Nov. 24 that he will begin restoring most previously banned accounts on Twitter starting next week.

☆ When Mark Cuban bought the Dallas Mavericks, he refused an office or big desk—here's why
▼ + stars: | 2022-11-26 | by ( Megan Sauer | ) www.cnbc.com time to read: +2 min

But when Mark Cuban bought the Dallas Mavericks for $285 million in January 2000, he didn't get his own floor-to-ceiling windows or a mahogany desk. "I wanted everybody that worked with me to see that if I asked them to do it, I'll do it," Cuban told GQ. He bought the team because he thought he could make it better and sell more tickets, he said. When he bought the team that January, Cuban said he put his desk in the center of the bullpen. Cuban's method appears to have worked, as the Dallas Mavericks' team value has steadily increased over the years.

☆ How a D1 football player built an audience of nearly 2 million TikTok followers, and how much he's earned from endorsements
▼ + stars: | 2022-11-26 | by ( Colin Salao | ) www.businessinsider.com time to read: +4 min

Jon Seaton is a junior defensive lineman for Elon University in the Division I Football Championship Subdivision. Since NIL rules were implemented, he's earned over $250,000 through deals with Meta and Dr. Pepper. "I actually had no clue at that point where I was going to feed myself from," Seaton said. Tim Curran told Insider he has avoided small deals for Seaton worth $25 to $50, which has pushed up the value of each sponsored post the athlete makes. Seaton believes that NIL could help student-athletes like him, who aren't pursuing careers as professional athletes, become business leaders.

☆ New York is the first state to ban certain types of crypto mining—here's what to know
▼ + stars: | 2022-11-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

New York just became the first state to ban certain types of cryptocurrency mining in an effort to address environmental worries over the energy-intensive process. The new law temporarily freezes the issuance and renewal of air permits to companies that have transformed some of the state's oldest fossil fuel plants into cryptocurrency mining hubs. Mining crypto can produce harmful emissions by generating electricity through burning coal, natural gas and other fossil fuels. However, as companies flocked to the region, climate advocates began ringing the alarm over crypto mining's potential environmental harm. On a national level, U.S. crypto mining produced about 25 to 50 million metric tons of carbon pollution according to a White House report.

☆ From wine to fishing tackle, retailers pray Advent calendars draw in shoppers
▼ + stars: | 2022-11-25 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +4 min

Dior is selling a $3,500 Advent calendar inside a wooden and cotton canvas box fashioned like its Paris boutique on Avenue Montaigne. For toddlers, Walmart sells the Baby Shark Advent Calendar, priced at $44.99. And for anglers, there's a $34.99 fishing tackle Advent calendar with life-like and color-changing soft baits at The Fishing Shop. Selfridges & Co has 128 Advent calendars priced from 4.99 to 623 pounds this season, more than double last year's offerings. The ALDI Holiday Magic Wine Advent Calendar includes 24 unique labels and 16 wine varieties from eight countries of origin for $59.99.

☆ How much money a YouTuber with 1 million subscribers earns, according to 4 creators
▼ + stars: | 2022-11-24 | by ( Amanda Perelli | Marta Biino | ) www.businessinsider.com time to read: +3 min

Four creators with 1 to 2 million subscribers shared how much they made from ads. To start earning money from YouTube, creators must have at least 1,000 subscribers and 4,000 watch hours in the past year on their long-form videos. Starting early 2023, creators who have 1,000 subscribers and 10 million views on short-form videos over the previous 90 days will also become eligible. Insider has spoken with dozens of YouTube creators about how much each of them earned from the platform. Four YouTube creators we spoke with had between 1 million and 2 million subscribers.

☆ Swiss eye strong start in World Cup opener versus Cameroon
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

AL RAYYAN, Qatar, Nov 22 (Reuters) - Switzerland hope to secure early points in a tough Group G when they face Cameroon in their World Cup opener on Thursday after a year of solid performances on the European stage. The Swiss reached the Euro 2020 quarter-finals before losing a penalty shootout to Spain. They also finished ahead of Italy in their World Cup qualifying group to avoid the playoffs. But Cameroon -- playing in an eighth World Cup, a record number of appearances for an African nation -- have failed to leave their mark at the finals since the 1990 edition of the tournament, when they dazzled by reaching the quarter-finals. Cameroon will aim to at least get another World Cup victory this time, a task that could prove difficult for a side that qualified thanks to a stoppage-time goal at the end of extra time in the second leg of their playoff tie away to Algeria.

Sale-leasebacks allow retailers to raise capital without shedding stores by selling the underlying real estate and turning them from landlords into tenants. They also point out that companies often spend the money on share buybacks and dividends rather than investing in their business. Spokespeople for Kohl's, Macellum and Ancora declined to comment. It is not clear how many of Kohl's 1,100 stores would have been involved in any deal. Reuters GraphicsRENT EXPENSESIn a letter to shareholders in March defending its strategy against criticism from hedge fund Macellum Capital Management LLC, Kohl's said that a "large" sale-leaseback would "negatively impact margins by adding unnecessary rent expenses in perpetuity and risk Kohl's investment-grade rating".

Organizations: & $

☆ Mark Cuban rejected these ‘Shark Tank’ founders in less than 2 minutes: ‘Dumbest marketing move ever’
▼ + stars: | 2022-11-21 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

On Friday's episode of ABC's "Shark Tank," billionaire Mark Cuban left a deal in less than two on-screen minutes for a different reason: the "dumbest marketing move ever." But they made their fatal error early: They gave Cuban, the owner of the NBA's Dallas Mavericks, an air freshener with the Golden State Warriors' logo on it. "You got to read your room," Cuban said, throwing down the air freshener. Ride FRSH had made $1.1 million in revenue in three years since launching, due largely to its subscription model. She offered $200,000 for 25% of Ride FRSH, contingent on their pending partnerships becoming official.

☆ Mark Cuban says he's cautiously optimistic about Elon Musk making Twitter a safe and sustainable platform
▼ + stars: | 2022-11-21 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Mark Cuban said he was "cautiously optimistic" about Elon Musk making Twitter safe for users. Cuban said Twitter's biggest challenge was making Twitter users feel safe on the platform. Elon Musk is smart and been here before. I'm cautiously optimistic he figures it out and the platform is safe and sustainable," Cuban said. Other staff from Twitter's privacy and security unit have also left, including its chief information security officer, its chief privacy officer, and its chief compliance officer.

☆ Beijing pushes back on FBI claims of Chinese ‘police stations’ in U.S.
▼ + stars: | 2022-11-19 | by ( ) www.nbcnews.com time to read: +2 min

China on Friday pushed back on claims it was operating ‘police stations’ on U.S. soil, calling the sites volunteer-run, after the FBI director said he was “very concerned” about unauthorized stations that have been linked to Beijing’s influence operations. Safeguard Defenders, a Europe-based human rights organization, published a report in September revealing the presence of dozens of Chinese police “service stations” in major cities around the world, including New York. The Embassy did not respond immediately to a Reuters request for a list of the sites. Members of the British parliament have also called for investigations into similar sites. Republicans in the U.S. Congress, including Representative Jim Banks, have requested answers from the Biden administration about the operations of the sites.

☆ Indonesia’s green step not yet a leap for mankind
▼ + stars: | 2022-11-18 | by ( George Hay | ) www.reuters.com time to read: +8 min

That’s where the private sector comes in, and why Just Energy Transition Partnerships (JETPs) are a potential game changer. More significantly, seven international banks, including HSBC (HSBA.L), (0005.HK), Citigroup and Bank of America (BAC.N), have promised to match that amount. International Finance Corporation figures show that “concessional” finance extended by public bodies at below-market rates can often attract 10 times its own level in private finance. The GFANZ working group will need to ensure Jakarta is sticking to its side of the decarbonisation bargain. The GFANZ group includes Bank of America, Citigroup, Deutsche Bank, HSBC, Macquarie, Mitsubishi UFJ Financial Group and Standard Chartered.

☆ Mark Cuban still believes in crypto despite FTX collapse—here’s why
▼ + stars: | 2022-11-18 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Although the implosion of one of the world's largest cryptocurrency exchanges has left many investors shaken, billionaire Mark Cuban still believes in crypto. Cuban has remained invested in crypto because he believes in smart contracts, one of the key underlying technologies that allow crypto transactions to be made, he explained on Twitter on Nov. 13. Essentially, a smart contract is a computer program that is embedded into a blockchain network. The "smart contract" within the machine is coded to dispense the selected item after the payment is made. Cuban believes smart contracts will have a significant impact in creating valuable applications that have utility for everyone.

☆ China pushes back on FBI claims of Chinese 'police stations' in U.S.
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 18 (Reuters) - China on Friday pushed back on claims it was operating 'police stations' on U.S. soil, calling the sites volunteer-run, after the FBI director said he was "very concerned" about unauthorized stations that have been linked to Beijing's influence operations. Safeguard Defenders, a Europe-based human rights organization, published a report in September revealing the presence of dozens of Chinese police "service stations" in major cities around the world, including New York. China's Embassy in Washington acknowledged the existence of volunteer-run sites in the United States, but said they were not "police stations" or "police service centers." Mark Clifford, president of the Committee for Freedom in Hong Kong Foundation, said such stations needed to be "stopped in their tracks." "By allowing the CCP to operate these types of institutions in their countries, international governments are complicit in Beijing's actions," Clifford said.

☆ Why Target will probably have the best Black Friday discounts this year
▼ + stars: | 2022-11-18 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Target will probably have the best deals this holiday shopping season, UBS analysts say. That's because Target has a glut of inventory it needs to get rid of during the holidays. "Since Target has been amongst the most impacted by having a glut of inventory this year, it will probably set the tone across several categories," the analysts wrote. The analysts visited Target stores and tracked how many items were on sale. They did note that Target's discounting has been less aggressive in categories like apparel and beauty.

☆ Mark Cuban-backed fintech Dave says no customers exposed to FTX
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Entrepreneur Mark Cuban-backed Dave Inc (DAVE.O) said on Thursday none of its customers were exposed to FTX and it has not launched any products in partnership with the beleaguered cryptocurrency exchange. FTX had invested $100 million in the fintech in March, through FTX ventures, to expand Dave's digital assets offerings and the company had said FTX US would be its exclusive partner for crypto. "We have not launched any products in partnership with FTX and no customers are exposed through Dave," the company spokesperson said in an emailed statement to Reuters. FTX filed for bankruptcy protection in the United States on Friday in the highest-profile crypto blowup to date, after traders pulled billions from the platform in three days and rival exchange Binance abandoned a rescue deal. Reporting by Manya Saini in Bengaluru and Saeed Azhar in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Walmart is crushing Target by luring wealthier shoppers and dominating groceries
▼ + stars: | 2022-11-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

Meanwhile, Walmart sales were up over 8% in the quarter and the retailer raised its full-year outlook. Walmart said its success was driven by two factors: its robust grocery business, and an influx of higher-income shoppers in its aisles. That trend began earlier this year as rising inflation nudged wealthier shoppers away from their usual grocery stores and toward Walmart locations across the country. And as upper middle-class shoppers trade down to Walmart's grocery aisles, they may get curious about the rest of Walmart's offerings, Wall Street analysts predict. Walmart is winning the grocery warsBut it's not just wealthier shoppers that are driving Walmart's dominance over Target — it's groceries, too.

☆ Unregulated crypto exchanges are looking like a 'dying breed,' says investment firm
▼ + stars: | 2022-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnregulated crypto exchanges are looking like a 'dying breed,' says investment firmMark Carnegie of MHC Digital Group discusses the fallout from FTX's bankruptcy.

☆ Elon Musk bluntly rejects former T-Mobile CEO's offer to replace him and run Twitter instead
▼ + stars: | 2022-11-14 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Former T-Mobile boss John Legere suggested running Twitter for Elon Musk. Musk replied to Legere, saying "no" and that a technologist was needed to run Twitter. "You can stop managing daily business, and "content moderation" and then support product/technology, let someone else "run" Twitter," Legere said in the tweet. "I'm expensive but so is what you paid for twitter," Legere continued adding that Musk should be "leadership example of how to tweet." It's not the first time Musk has rejected a business leader's advice about how to run Twitter.

☆ Mark Cuban saw his younger self in this 'Shark Tank' founder—and offered him a $1 million deal
▼ + stars: | 2022-11-14 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

On Friday's episode of ABC's "Shark Tank," Cuban offered a big deal to Collars & Co., a Bethesda, Maryland-based menswear brand that makes casual polos with dress collars. Cuban and guest Shark Peter Jones teamed up to offer Baer a $300,000 investment, plus a $700,000 line of credit, for 10% of Collars & Co. Cuban asked Baer how much money he'd actually need to reach his goals. The other investors withdrew from consideration, leaving only Cuban and Jones' offer on the table. Once Baer left, Jones and Cuban wondered how the trio would work together over time — but Baer seemed satisfied with the negotiations and deal.

☆ Would Twitter get online publisher immunity in fake 'blue check' suits?
▼ + stars: | 2022-11-14 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

(Reuters) - Twitter Inc’s introduction last week of a new subscription system to dole out blue-check verification badges was a flop by any standard. Edelson's preliminary theory: By awarding verification badges to the fake corporate tweeters, Twitter enabled the imposters to trick consumers and even shareholders. (Eli Lilly and Co and Lockheed Martin Corp both experienced sharp, if temporary, stock drops after tweets from corporate accounts that carried the blue-check verification.) Twitter also did not respond to my email query about potential private lawsuits arising from last week’s fake tweets. What about shareholders or consumers who claim to have been duped by tweets from fake corporate accounts?

☆ Mark Cuban reveals the 14-second pitch he used to make money at his first sales job
▼ + stars: | 2022-11-13 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

A 12-year-old Mark Cuban sold trash bags door-to-door. The billionaire serial entrepreneur and Dallas Mavericks owner recently told GQ magazine that a family friend gave him the opportunity, marking his first-ever sales job. The friend sold Cuban boxes of trash bags for $3, so Cuban could turn around and sell them around the neighborhood at $6, to save money for sneakers. Cuban said he developed a 14-second pitch for every customer. In 2020, Cuban told the "Raising the Bar" podcast that he receives about 1,000 emailed pitches per day — and he judges them by only their first few sentences.

Search resuls for: "Mark C"

25 mentions found