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☆ This individual investor favorite has endured even as other meme stocks fell from favor
▼ + stars: | 2023-09-17 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Retail traders have made the leap from so-called meme stocks , including GameStop and AMC , over the past few years. All the while, Tesla inflows from retail traders have mostly climbed in the past half decade, according to data analyzed by Vanda Research. "It's a growth stock, but it's really a hopes-and-dreams stock," said Irwin, who covers Tesla and other clean technology stocks. Tesla's climb also comes amid a broader buy in from retail investors in their favorites. "This is probably a golden era for Tesla," Irwin said.

Persons: Tesla, —, Roth, Craig Irwin, Irwin, it's, Elon Musk, Ford, hasn't, Dan Levy, Toyota's Organizations: GameStop, AMC, Vanda Research, Trust, General Motors, Barclays, Toyota Locations: Wall, U.S, China, Europe

☆ Three reasons Biden’s problems appear to be overblown
▼ + stars: | 2023-09-17 | by ( Harry Enten | ) edition.cnn.com time to read: +6 min

But while Biden clearly has problems – no president with an approval rating hovering around 40% is in good shape – some of his issues appear to be overblown at this time. It is worth analyzing whether the fact that a lot of Democrats don’t think Biden should be renominated masks a larger problem he could face in a general election. But Biden’s pulling in more than 90% of Democrats in Fox News and Quinnipiac University general election polling released this past week. The fact is Biden’s got problems, but worrying about renomination is not one of them. Most voters think Biden did something inappropriate related to his son’s business dealings.

Persons: Joe Biden, Biden, Zach Wolf, it’s, David Ignatius, don’t, Robert F, Kennedy Jr, Marianne Williamson, Ted Kennedy, Jimmy Carter, Donald Trump’s, Biden’s, Hunter, Trump, Bill Clinton, It’s, I’m, they’d Organizations: CNN, United Auto Workers, Democratic, Washington, Fox News, Quinnipiac University, Republicans, Biden, Trump, Clinton’s Democratic Party, GOP, Voters, Gallup Locations: Delaware, midterms

☆ Dark money donations to Virginia Republicans outpace Democrats 6 to 1 in fight for control of the state legislature
▼ + stars: | 2023-09-16 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Virginia has seen nearly $1.7 million in outside spending for candidates in key 2023 races. All 140 seats in the Virginia legislature are up for grabs in districts that were recently redrawn. All 140 seats in the Virginia legislature — 100 in the House of Delegates and 40 in the state Senate — are up for grabs in November. But Democrats, who are seeking to maintain Senate control and win back the House, are competing hard for key seats in vote-rich metropolitan Richmond, Hampton Roads, and Northern Virginia. Youngkin has so far been unsuccessful in moving a 15-week abortion ban through the legislature, blunted by Democrats in the Senate.

Persons: Virginia, spender, Koch, Elizabeth Shimek, Glenn Youngkin, Youngkin, Roe, Wade Organizations: Service, Virginia Center, Investigative Journalism, WHRO, Virginia Department, Prosperity, Republicans —, Democratic, GOP, Gov, Republican, Republicans Locations: Virginia, Wall, Silicon, Richmond, Hampton Roads, Northern Virginia

Local public health officials say the potential loss of funding could severely impact several essential services, including vaccines, cancer screening and testing for sexually transmitted infections. A national public health expert said the situation is unique in the U.S. and a threat to the entire public health field — especially going into an election year when health officials and their department could again become political targets. “I’m hoping this isn’t the start of a new trend of retroactive punishment against public health departments.”More than than 300,000 people live in Ottawa County, making it Michigan's seventh largest county. “You should not be at war with your health providers.”The Network for Public Health Law and the National Association of County and City Health Officials filed amicus briefs in support of Hambley’s lawsuit last month. And Freeman said her organization is keeping a close eye on Ottawa County: “This isn't something we want on the books for other county commissioners to consider in the future."

Persons: COVID, they’ve, ”, Lori Freeman, “ I’m, Herman Miller, Joe Moss, Sylvia Rhodea, — Moss, Rhodea, John Gibbs, Adeline Hambley, Jacob Bonnema, it's, Hambley, “, ” Hambley, Gibbs, Moss, —, Freeman, Robert Wood Johnson Organizations: National Association of County, City Health, Ottawa, Republican, Diversity, Equity, Associated Press, AP, Hambley, Grand Haven, Public Health Law, Associated Press Health, Science Department, Robert Wood Johnson Foundation Locations: Mich, Michigan, U.S, Ottawa County, Ottawa, Grand

☆ Investing in Space: Industry enters new era with tight funding and SpaceX dominance
▼ + stars: | 2023-09-14 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +5 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. BogeymanSpaceX feels a bit like Voldemort here: Whether it's the launch or satellite communications markets, SpaceX's dominance was a hot topic. While the company hasn't made any claims yet, the insurance market ramifications are looming. Because I think the one issue that creates dysfunction in this insurance market is … do you have enough volume to make up for this loss? … They're trying to figure out what 2024 is going to hold."

Persons: CNBC's Michael Sheetz, SpaceX's Starlink, Uninsurable, hasn't, Here's, they've, … They're, –, Jonathan Baliff, Henry Dubois, Adam Spice, EXIM, Judith Pryor, Pryor, there's Organizations: SpaceX, We're Locations: Paris, U.S

2 Senate Republican said on Wednesday. That will be particularly challenging as some hard-line House Republicans are vowing to withhold votes for a stopgap, known as a "continuing resolution," without which the government could shutdown beginning in October. The Senate is only now beginning to move forward on its first spending legislation, which the House managed to pass only one bill before Republican infighting consumed the process. Thune said the Senate is giving the 222-212 Republican House majority room to maneuver on spending for now, but warned that failure to make progress soon could force Congress to resort to an omnibus bill that Republicans have vowed to avoid. Democratic Senate incumbents are vulnerable in as many as eight states next year, while Republicans are not at risk.

Persons: John Thune, Julia Nikhinson, It's, We've, Kevin McCarthy, Joe Biden, Thune, They've, David Morgan, Richard Cowan, Scott Malone, David Gregorio Our Organizations: Reuters, U.S, Capitol, REUTERS, Rights, Congress, Republican, Republicans, U.S . Capitol, Democratic, Republican House, South Dakota Republican, Senate Republicans, Thomson Locations: Washington , U.S

[1/2] Logo of British Petrol BP is seen at a petrol station in Pienkow, Poland, June 8, 2022. BP plans to spend $55 billion to $65 billion on its new transition businesses between 2023 and 2030, when the sum will equal its investment in oil and gas. BP recently opened a new office in Hamburg which will oversee its offshore wind expansion. BP operates two refineries in Germany -- Lingen and Gelsenkirchen -- as well as Aral, Germany's largest petrol station network. Looney had defended the offshore wind bid, saying he expected strong demand for clean energy.

Persons: Kacper, Patrick Wendeler, Bernard Looney, Wendeler, Looney, Christoph Steitz, Ron Bousso, Alexandra Hudson Organizations: British, REUTERS, EV, BP, Reuters, Reuters Graphics BP, Volkswagen, BMW, Rivals, Shell, Reuters Graphics Reuters, Alexandra Hudson Our, Thomson Locations: Pienkow, Poland, FRANKFURT, LONDON, Germany, BP Europe, Hamburg, Lingen, Gelsenkirchen

☆ Wall Street analysts tore down a Chinese Tesla rival and say it's exactly why Elon Musk should be worried about China
▼ + stars: | 2023-09-12 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Chinese electric car maker BYD might be the closest thing to a true Tesla competitor. Experts say the auto company's Seal electric sedan is comparable to the Tesla Model 3. UBS analysts tore down the Seal and found it's a great Model 3 alternative for less. AdvertisementAdvertisementInterestingly, unlike Tesla, BYD seems to be steering clear from autonomous driving technology, and instead, is opting for a standard, Level 2, advanced driver assistance system. "Given the Chinese EV development cycle is still faster than that of the foreign brands, we believe Chinese brands' market share gains from foreign brands will be structural and continuous."

Persons: Warren Buffett's Berkshire Hathaway, Elon, Tesla, Li Auto, it's Organizations: Tesla, UBS, Service, EV, Tesla's, Getty Images Locations: Wall, Silicon, China, Europe, Munich, German

☆ UBS loves these electric vehicle stocks — and says one offers China's 'answer to Tesla Model 3'
▼ + stars: | 2023-09-08 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

UBS named electric vehicle stocks it likes in China and described one car as a "Chinese answer to Tesla Model 3." It enjoyed some edge not only over foreign incumbents, but also Chinese EV startups," UBS analysts led by Paul Gong wrote in a Sept. 1 research note. UBS described the Seal model as having a large interior space, with 5G connectivity and a rotating cockpit screen. "The result is a decent alternative to Tesla Model 3 at 10-20% lower selling price," the analysts wrote. Chinese EV stocks Alongside BYD, the bank is buy-rated on Great Wall Motor , which has several EV models.

Persons: BYD, Paul Gong, — CNBC's Michael Bloom, Ganesh Rao Organizations: UBS, Tesla, China EV, Hong, Toyota, BYD, Li, Amperex Technology, Shenzhen Stock Exchange, VW, Renault Locations: China, Europe, Hong Kong

☆ The CEO of Spora Health on fighting bias as a startup founder and his inspirations to improve healthcare for people of color
▼ + stars: | 2023-09-07 | by ( ) www.businessinsider.com time to read: +13 min

Dan Miller founded Spora Health in 2019 to deliver better healthcare to people of color. AdvertisementAdvertisementDan Miller founded the startup Spora Health in 2019 to provide better medical care to people of color. Most of Spora's healthcare providers are people of color, and all its clinicians are trained in health equity and cultural competence. How has your experience as a Black patient in the US healthcare system informed what you built at Spora? But I knew there was a lot of demand and interest from Black folks that I would meet in the community.

Persons: Dan Miller, Miller, I'd, He's, Spora, I've, they're, who's, you've Organizations: Spora Health, San Francisco Bay Area, Fortune, Bay Area Locations: San Francisco, San Francisco Bay, America, Bay, New York, Silicon, United States

☆ Apple, Amazon, and Meta among 6 tech giants deemed 'gatekeepers' set to face strict competition rules under new EU law
▼ + stars: | 2023-09-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The European Union named six tech giants as "gatekeepers" that have to comply with new laws. The Digital Markets Act aims to give more choice to users and open up the market for competitors. A TikTok spokesperson said the company "fundamentally disagrees" with the designation. The six tech giants have six months to comply with the EU's Digital Markets Act (DMA), which aims at improving competition in the tech sector. In a statement shared with Insider, a TikTok spokesperson said: "We support the DMA's goal of creating a competitive playing field in Europe but fundamentally disagree with this decision."

Persons: Thierry Breton, Miranda Cole, Norton Rose Fulbright Organizations: European Union, Service, Apple, Meta, Microsoft, EU's, Google, Norton Rose, EU, European Commission Locations: Wall, Silicon, Europe

Section 2 of the federal law says voting district lines can’t result in discrimination against minority voters, who must be given a chance to elect candidates of their choosing. Jones preliminarily ruled in 2022 that some parts of Georgia’s redistricting plans probably violate federal law, but the trial is needed to flesh out facts for a verdict. “The Voting Rights Act was designed for cases like this one," Lakin said. “If Georgia’s electoral system is not equally open to Black voters, what would have to change?" Tyson also renewed the state's argument that Georgia's maps were drawn to protect incumbents and to prioritize Republican majorities, motives that are legal under federal law.

Persons: Alabama's, Steve Jones, Jones preliminarily, Jones, Sophia Lin Lakin, Lakin, Bryan Tyson, Tyson, Jon Ossoff, Raphael Warnock, Joe Biden's, ” Tyson, William Cooper, Cooper, ”, Abha Khanna, Khanna Organizations: ATLANTA, U.S, Supreme, District, Republican, Assembly, ”, Black, Senate Locations: Georgia, Alabama

☆ CNBC Daily Open: Bitcoin’s still struggling to gain acceptance
▼ + stars: | 2023-09-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China's Shanghai Composite lost 0.72% as the country's service sector logged its slowest expansion in eight months, according to a Caixin survey. Overinvestment in ChinaChina is "overinvested," said Jitania Kandhari, a managing director and deputy chief investment officer at Morgan Stanley. By contrast, India is underinvested, Kandhari said, giving its economy and markets investment opportunities.

Persons: Narendra Modi, China —, Jitania Kandhari, Morgan Stanley, Kandhari, Weizhen Tan Organizations: CNBC, Labor, Shanghai, Indian, BMW, Ford, Mercedes Locations: Miami Beach , Florida, U.S, Asia, Pacific, India, Russia, China, China China, Munich, Germany

☆ Chinese electric carmakers ramp up push overseas, setting up clash with U.S., European auto giants
▼ + stars: | 2023-09-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCMunich, GERMANY — The IAA in Munich, Germany is one of Europe's most high-profile auto shows. And it was dominated by Chinese electric car firms looking to expand their presence on the continent and challenge incumbents from BMW to Ford in the new era of battery-powered vehicles. But a slowing market at home, due to tepid consumer spending after Covid-19 restrictions were lifted, coupled with an attractive market in Europe, has seen Chinese firms launch cars abroad and expand their footprint. Many of the European carmakers have been seen lagging in their push into EVs at a time when Chinese players have launched dozens of new vehicles. watch nowThe entrance of Chinese firms into Europe is seen as a threat to big automakers who have been perceived to be moving too slow on EVs.

Persons: BYD, Arjun Kharpal, Daniel Roeska, Roeska, Zhu Jiangming, Warren Buffett, Xpeng, Brian Gu, Gu, Bernstein, Tesla, Mercedes, Xpeng's Gu Organizations: CNBC, BMW, Ford, EV, Bernstein Research, Leapmotor, Tesla, IAA Locations: Europe, Munich, Germany, CNBC Munich, GERMANY, China, Hangzhou, Norway, Sweden, Denmark, Netherlands, Guangzhou, EVs

☆ New York’s Migrant Crisis Is Growing. So Are Democrats’ Anxieties.
▼ + stars: | 2023-09-03 | by ( Nicholas Fandos | More About Nicholas Fandos | ) www.nytimes.com time to read: +1 min

In many ways, those poor ratings have freed Democrats facing competitive races to distance themselves from their party in ways that telegraph to voters their understanding of the problem while differentiating themselves from Republicans’ more hard-line views on immigrants. It is a tricky balancing act. “Where you really get yourself in trouble as an elected official is when you don’t listen,” Mr. Ryan said, adding: “For political purposes, the MAGA Republicans want divisions and chaos. “In my district, the one person sitting at the table to fix this problem is Anthony D’Esposito, and he is doing nothing,” said Laura Gillen, a Democrat seeking a rematch against Mr. D’Esposito, who represents the South Shore of Long Island. (He and other New York Republicans helped pass an aggressive but partisan border security bill in May.)

Persons: ’, Ryan, Mr, MAGA, “, Anthony D’Esposito, ”, Laura Gillen, D’Esposito Organizations: MAGA Republicans, Republican, Mr, New, New York Republicans Locations: New York, Shore, Long

☆ SentinelOne CEO says the cybersecurity company is not for sale
▼ + stars: | 2023-08-31 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

SentinelOne , a cybersecurity company that went public in 2021 and has yet to see its stock price exceed highs from that year, is not for sale, Tomer Weingarten, its co-founder and CEO, told CNBC in an interview Thursday. Bloomberg reported security startup Wiz was considering an acquisition of SentinelOne, pointing to comments from a Wiz spokesperson. SentinelOne shares rose more than 10% in extended trading Thursday after the company reported stronger-than-expected fiscal second-quarter results. The best way to do that is to remain a publicly traded independent company, Weingarten said. Excluding the after-hours move, SentinelOne shares have risen about 14% so far this year, trailing the First Trust Nasdaq Cybersecurity ETF, which is up about 22% during the same period.

Persons: Tomer Weingarten, Weingarten, SentinelOne Organizations: CNBC, Bloomberg, Revenue, CrowdStrike, VMware, Microsoft, Incumbents, Wiz, Trust Nasdaq

☆ McConnell’s frozen moment renews questions about America’s aged leaders
▼ + stars: | 2023-08-31 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Also in the Senate, California’s Dianne Feinstein, 90, has been ill and displayed apparent cognitive decline in public in recent months. But given that Biden, McConnell and Feinstein are public officials, voters are entitled to a high level of transparency. Biden, for instance, would be 86 by the time his second term ends, which represents his biggest vulnerability in the 2024 election. Remarkably, in an age where major questions divide on party lines, 69% of Democrats shared that view. Should Biden, if he wins a second term, experience a similar moment to McConnell, questions about the continuity of US leadership would reverberate around the world and offer openings for US adversaries.

Persons: Mitch, “, Joe Biden, Donald Trump, California’s Dianne Feinstein, Feinstein, –, Strom Thurmond, Robert Byrd of, Biden, McConnell, Jonathan Reiner, CNN’s Erica Hill, ”, Reiner, Trump, Karine Jean, Pierre, CNN’s Jake Tapper, Tapper, Jean, Nikki Haley, – Trump, Haley, Kamala Harris, Harris, ” Haley, Nancy Pelosi, Steny Hoyer, Ruth Bader Ginsburg, they’ve, Sen, Shelley Moore Capito, CNN’s Manu Raju, John Thune, McConnell “, Jim Banks, CNN’s Raju, Sprightly Iowa GOP Sen, Chuck Grassley, who’s Organizations: CNN, Kentucky Republican, Senate, George Washington University, United States Senate, Associated Press, White, White House, Former South Carolina Gov, GOP, Republicans, Biden, Fox News, Democratic, Supreme, Labor, West Virginia Republican, Republican, prudential, Indiana, Sprightly Iowa GOP, California Democrat, Capitol Locations: Kentucky, South Carolina, Robert Byrd of West Virginia, Rehoboth Beach , Delaware, Ukraine, Washington, Dakota, Sprightly Iowa, California, It’s

☆ Social Media Is Dead: Instagram, TikTok Replaced by Group Chats, Messaging
▼ + stars: | 2023-08-30 | by ( Sydney Bradley | Amanda Perelli | ) www.businessinsider.com time to read: +15 min

Frustrated with the state of the platform, Breuning launched the "Make Instagram Instagram Again'' crusade in 2022. Influencers, marketers, average users, and even social-media executives agree: Social media, as we once knew it, is dead. Social media to social mediaNo app better defines the changing nature of social media than Instagram. "I'm honestly just tired of social media," said 23-year-old Walid Malb, who works in the creator economy. Amanda Perelli is a senior creator economy reporter covering social media influencers, advertising and marketing trends for Insider.

Persons: Tati, everyone's, Bruening, Breuning, algorithmically, Kylie Jenner, Adam Mosseri, Instagram, Jeffrey Gerson, Sarah Frier, Influencers, Mosseri, Hannah Stowe, Andrea Casanova, Casanova, I'm, Walid Malb, —, Gerson, Nina Haines, Victoria Johnston, Johnston, Lia Haberman, Alpha, they're, Haberman, wouldn't, Amanda Perelli, Bradley Organizations: Bloomberg, Apple, Twitter, UCLA, American Influencer Council, Social, . Locations: Instagram, New York, Similarweb, Castro, Geneva

☆ Europe's Stripe rival Adyen saw $20 billion wiped off its value in a single day. Here's what's going on
▼ + stars: | 2023-08-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Pavlo Gonchar | Sopa Images | Lightrocket | Getty ImagesSpirits were high when Dutch payments firm Adyen floated on the Amsterdam Stock Exchange in 2018. The company was riding a wave of growth in Europe's technology sector and snapping up competition from its mega U.S. rival PayPal. Since then, the company has weathered a turbulent ride, including a global pandemic that knocked volumes from travel clients significantly. Company shares plummeted 39% on Thursday, erasing 18 billion euros ($39 billion) from Adyen's market capitalization, as investors dumped the stock after the firm reported its slowest revenue growth on record. Adyen has typically been viewed as a growth stock, after consistently reporting revenue growth of 26% each half-year period since its 2018 stock market debut.

Persons: Pavlo Gonchar, Adyen, Pieter van der, Arnout Schuijff, Ethan Tandowsky, CNBC's, Tandowsky, EBITDA, Simon Taylor, Taylor Organizations: Amsterdam Stock Exchange, PayPal, Company, CNBC, Netflix, Meta, Spotify, Enterprise, Financial Locations: North America

☆ Emerging tech, from AI to extended reality, is radically reshaping today's business world — and leaders who don't get on board ASAP will be left in the dust
▼ + stars: | 2023-08-21 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +14 min

As technology shapes customer habits, entire industries, and society at large, digital transformation has become a critical priority for every company. A February report from Deloitte found effective digital transformation initiatives could increase market capitalization by a staggering $1.25 trillion. From artificial intelligence to extended reality, a variety of technologies are shaping digital transformation strategies. He said he expected industries with "significant human implications," such as healthcare and space exploration, to benefit the most from digital transformation. Extended reality — a combination of virtual reality, augmented reality, and mixed reality often called "XR" — is another technology that could revolutionize organizational cultures.

Persons: Nigel Vaz, Publicis, It's, Vaz, Jean Pelletier, Pelletier, Schneider, Beth Johnson, Johnson, Tom Fairbairn, Tom Fairbairn Fairbairn, Duncan Roberts, Roberts Organizations: Technology, Morning, Deloitte, Netflix, Schneider, Schneider Electric, Citizens Bank, Amazon Prime, Amazon Web Services, Company, Imperial College London Locations: Cognizant

☆ Warren Buffett missed a trick by not investing in Tesla at a rock-bottom valuation, Elon Musk says
▼ + stars: | 2023-08-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett could have invested in Tesla when it was worth almost nothing, Elon Musk said. Buffett passed on Tesla at a $200 million valuation in 2008, Musk previously said. Tesla is now worth about $700 billion, but that's down from a peak valuation of $1.2 trillion. Elon Musk often mentions Warren Buffett on Tesla earnings calls. As for Buffett, he's questioned why Musk tweets himself into trouble, and once challenged the tech billionaire to disrupt the candy business.

Persons: Warren Buffett, Elon Musk, Buffett, Musk, Tesla, could've, Charlie Munger, Munger, He's, he's Organizations: Tesla, Service, SpaceX, Berkshire Hathaway, Ford, General Motors, BYD, Getty Locations: Tesla, Wall, Silicon, Berkshire, Munger

☆ How ESPN's $2 billion deal with Penn Entertainment could shake up sports betting, from reinvigorating competition to evolving media's relationship with gambling
▼ + stars: | 2023-08-14 | by ( Ashley Rodriguez | Margaret Fleming | Lucia Moses | ) www.businessinsider.com time to read: +11 min

Many view the deal as a "win-win" for ESPN, Penn, and its former partner Barstool Sports. Industry insiders say the deal could signal a potential ESPN spinoff, disrupt competition, and more. Here's what industry insiders are saying about the deal:1. FanDuel and DraftKings dominate US online sports-betting and gambling market share, followed by BetMGM, according to a July report from Macquarie that analyzed Vixio data. Industry insiders like affiliate-marketing company Gambling.com Group's Max Bichsel aren't sure about that prediction.

Persons: Barstool, Bob Iger, Penn, sportsbooks, who's, Chris Grove, Dave Portnoy, Portnoy, Fox's, Sharp, Sharp Alpha Advisor's Lloyd Danzig, Dan, Danzig, Brandon Nispel, he's, Nispel, Kimberly White, FanDuel, BetMGM, Zachary, Max Bichsel aren't, Bichsel, I'm, Grove, It's, DraftKings, let's, FuboTV, hasn't, Fox Bet, Ed Moed, Fox, Dan Wasiolek, Wasiolek Organizations: ESPN, Penn Entertainment, Penn, Barstool Sports . Industry, ESPN Bet, Investors, Acies Investments, Barstool Sports, Sharp Alpha, Disney, KeyBanc, CFRA Research, . Industry, ESPN —, Fox, Maxim Magazine, Sports, Fox Bet, Morningstar Locations: Macquarie, Canada

☆ Disney's big sports-betting deal has industry insiders abuzz about possibilities, from a potential ESPN spinoff to heightened competition
▼ + stars: | 2023-08-09 | by ( Ashley Rodriguez | Margaret Fleming | Lucia Moses | ) www.businessinsider.com time to read: +11 min

Many view the deal as a "win-win" for ESPN, Penn, and its former partner Barstool Sports. Industry insiders say the deal could signal a potential ESPN spinoff, disrupt competition, and more. Gambling industry insiders thought Disney CEO Bob Iger might make quick work of setting a sports-betting strategy when he took back the reins of the ESPN owner late last year. Here's what industry insiders are saying about the deal:1. Industry insiders like affiliate marketing company Gambling.com's Max Bichsel aren't sure about that prediction.

Persons: Barstool, Bob Iger, Penn, sportsbooks, who's, Chris Grove, Dave Portnoy, Portnoy, Fox's, Sharp, Sharp Alpha Advisor's Lloyd Danzig, Dan, Danzig, Brandon Nispel, he's, Nispel, Kimberly White, FanDuel, BetMGM, Zachary, Gambling.com's Max Bichsel aren't, Bichsel, I'm, Grove, It's, DraftKings, let's, FuboTV, hasn't, Fox Bet, Ed Moed, Fox, Dan Wasiolek, Wasiolek Organizations: ESPN, Penn Entertainment, Penn, Barstool Sports . Industry, ESPN Bet, Investors, Acies Investments, Barstool Sports, Sharp Alpha, Disney, KeyBanc, CFRA Research, . Industry, ESPN —, Fox, Maxim Magazine, Sports, Fox Bet, Morningstar Locations: Macquarie, Canada

☆ Fintech VCs are readying their checkbooks as cash-strapped startup founders run out of options
▼ + stars: | 2023-08-08 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Fintech funding has been on a decline from 2021's peak levels, but VCs see signs of a rebound. VCs are itching to get back to dealmaking as they see early signs of a rebound in the fintech industry. Cash-strapped founders who didn't want to fundraise in a down market and get valuations slashed are running out of options and time. They dominated the fintech market in the past several years, but the shine is wearing off, Shriner said. Fintech VCs will get to spend more time on due diligence, looking beyond so-called "vanity metrics," Fernandez said.

Persons: Cash, didn't, Mark Peter Davis, Davis, We're, Tripp Shriner, Robert Ruark, Ruark, B2C, VCs, Shriner, — crowdedness, Stephanie Choo, Marcos Fernandez, KPMG's Ruark, Fintech, Fernandez Organizations: Interplay, Investors, Point72 Ventures, KPMG, Tiger, Portage Ventures, Fiat Ventures Locations: dealmaking, VCs, overvaluations

☆ Getting just 2 bills signed into law is enough to make Sen. Jon Tester the most effective legislator so far this year
▼ + stars: | 2023-08-04 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Sen. Jon Tester has had two of his bills signed into law after passing both chambers of Congress. Congress has passed far fewer bills this year due to divided government. Yet that's enough to make Tester the single most effective lawmaker in Congress this year, if getting bills signed into law is the sole metric. Just 12 bills have been signed into law by President Joe Biden this Congress. Of course, the reason so few bills have been signed into law is because Congress is now divided.

Persons: Sen, Jon Tester, Democratic Sen, he's, Joe Biden, Biden, Tester, Tim Sheehy, Matt Rosendale Organizations: Congress, Service, Privacy, Democratic, Republican, Veterans Affairs, Veterans, Major, Department of Veterans Affairs, Republicans, US Senate, Caucus Locations: Wall, Silicon, Montana

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