DIRS.INFO The most relevant business & tech news

☆ Stanley Druckenmiller piles into these A.I. plays and other technology stocks
▼ + stars: | 2023-05-17 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller bought into a few stocks tied to artificial intelligence last quarter, while piling into a handful of other names in the tech sector, according to a new regulatory filing. Druckenmiller said last week these two bets were his way of getting exposure to the booming AI space. He thinks that AI could be a fruitful opportunity for investors, especially when the economy comes out of what he thinks is an imminent downturn. The investor also built a sizable stake in Alphabet, another AI play, making it one of his top 10 holdings. Amazon was another new bet for Druckenmiller, who built an $84 million stake at the end of March.

☆ Tesla’s governance autopilot heads for disaster
▼ + stars: | 2023-05-17 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

It’s a vulnerable time for such pronouncements when the market Tesla (TSLA.O) effectively created threatens to overtake it. The stock price has tumbled some 60% since November 2021 compared to a 12% decline in the S&P 500 index (.SPX). A more deferential approach to Musk might have made sense during Tesla’s meteoric rise, when its mere existence bucked convention. The Department of Justice has initiated a probe into Tesla’s self-proclaimed “self-driving” capabilities, which have been involved in fatal crashes. Heeding advice from ISS and Glass Lewis would at least be a place to start, because leaving governance on autopilot also can have dangerous consequences.

☆ Elon Musk misquoted 'The Princess Bride' when asked why he keeps tweeting political opinions and antisemitic conspiracy theories: 'If we lose money, so be it'
▼ + stars: | 2023-05-17 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

In an interview with CNBC that aired Tuesday, Elon Musk was asked about his tweeting. Musk said he'll say what he wants to say even if it leads to him, Tesla, or Twitter losing money. During an interview with CNBC's David Faber, Musk was asked about why he tweets the way he does. Faber pointed to a tweet from Monday in which Musk said Soros "wants to erode the very fabric of civilization" and "hates humanity." Faber asked why Musk continued to tweet such things and share his political opinions even though Tesla customers and Twitter advertisers may not agree with him.

☆ A new CEO won’t fix Twitter’s biggest problem
▼ + stars: | 2023-05-17 | by ( Clare Duffy | ) edition.cnn.com time to read: +7 min

New York CNN —During his six months as Twitter’s CEO and owner, Elon Musk decimated its ad business, alienated some news publications and VIP users, and plunged the platform into a constant state of chaos. But she may struggle to address Twitter’s biggest problem: Elon Musk. On Tuesday, Musk said he “didn’t care” if his controversial tweets drew the ire of Twitter advertisers or Tesla shareholders. She may struggle to undo the damage Elon Musk has done to the company's ad business. That could only add to the difficulty Yaccarino will face in shoring up Twitter’s business.

☆ Elon Musk said George Soros reminds him of 'X-Men' mutant Magneto in a bizarre tweet about the oft-maligned billionaire
▼ + stars: | 2023-05-16 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Elon Musk tweeted that George Soros reminds him of the "X-Men" mutant Magneto. Musk also claimed without substantiation that Soros "hates humanity." His tweet on Monday, which offered no context for his comparison, simply stated: "Soros reminds me of Magneto." Soros hates humanity." Representatives of Musk and Soros did not immediately respond to Insider's requests for comment sent outside regular business hours.

☆ DeSantis defends fundraising for the ex-Marine who fatally choked Jordan Neely in subway: 'Vets look out for other vets'
▼ + stars: | 2023-05-16 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +3 min

DeSantis shared a fundraising page for Penny over the weekend, raising $2 million for his defense. "Vets look out for other vets," DeSantis said when asked about it Tuesday. Ron DeSantis of Florida defended ex-Marine Daniel Penny as having done the "right thing" after he fatally choked Jordan Neely on a New York City Subway. Protests ensued in New York City, and the story became national news as it touched on race, homelessness, crime, and mental health treatment. Crime in New York City is higher than before the COVID-19 pandemic, statistics show.

☆ Opinion | The Republican Embrace of Vigilantism Is No Accident
▼ + stars: | 2023-05-16 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +2 min

Perry had lived out the right-wing fantasy of lethal violence in defense of “order.” By their lights, he had done nothing wrong. What we know is that Neely, who was homeless, was erratic and acting hostile toward other passengers. At some point, Penny, a former Marine, placed Neely in the chokehold that killed him. But this has not stopped conservatives from valorizing him in the same way they valorized Rittenhouse and Perry. In listening to conservative fans of Rittenhouse, Perry and Penny, you would never know that there were actual people on the other side of these confrontations.

☆ Elon Musk claims George Soros ‘hates humanity.’ The ADL says Musk’s attacks ‘will embolden extremists’
▼ + stars: | 2023-05-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

While Musk’s remarks don’t mention the billionaire philanthropist’s ethnicity, Musk was criticized for dangerous rhetoric that could potentially fuel further attacks on Soros. When a Twitter user defended Soros as having good intentions which are criticized by those who disagree with his politics, Musk responded, “You assume they are good intentions. Attacks on Soros have increased in recent years alongside a broader increase in incidents of antisemitic attacks. Studies by the ADL and the Center for Countering Digital Hate found that the volume of hate speech on Twitter has grown dramatically under Musk’s stewardship. He most recently sold 22 million shares in December.

☆ Elon Musk: 'I'll say what I want, and if the consequence of that is losing money, so be it'
▼ + stars: | 2023-05-16 | by ( Mike Calia | ) www.cnbc.com time to read: 1 min

Elon Musk told CNBC's David Faber on Tuesday that if his inflammatory tweets scare away advertisers from Twitter, he will accept that. "I'll say what I want, and if the consequence of that is losing money, so be it," said Musk, who owns Twitter. Musk replied defensively as Faber pressed him over a tweet Monday night in which he likened liberal billionaire George Soros to X-Men villain Magneto, a Jewish Holocaust survivor. Soros, who is also Jewish, is a favorite target of right wing pundits and politicians and often the subject of anti-Semitic attacks. For years, Musk has tweeted controversial items, including conspiracy theories and comments his critics have called broadly discriminatory.

☆ Fact Check-George Soros ‘alive and healthy’ on May 15, 2023
▼ + stars: | 2023-05-15 | by ( Reuters Fact Check | ) www.reuters.com time to read: 1 min

Billionaire financier George Soros said he is “alive and healthy” on May 15, 2023, after viral posts on social media falsely claimed he died after a heart attack. Scores of social media posts claiming Soros died, including here and here, prompted confusion among users. A spokesperson for George Soros told Reuters on May 15 that Soros was alive and healthy and that rumors on social media that he suffered a heart attack are false. Soros himself also tweeted that he is “alive and healthy” and that the rumour is false (here). George Soros was alive and healthy on May 15, 2023, according to Soros and a spokesperson for the financier.

[1/2] Co-Founders of VICE Shane Smith (L) and Suroosh Alvi (R) pose as they arrive for the 20th Annual Webby Awards in Manhattan, New York, U.S., May 16, 2016. REUTERS/Mike SegarMay 15 (Reuters) - Vice Media Group, popular for websites such as Vice and Motherboard, filed for bankruptcy protection on Monday to engineer its sale to a group of lenders, capping years of financial difficulties and top-executive departures. Vice listed both assets and liabilities in the range of $500 million to $1 billion. Vice was among a group of fast-rising digital media ventures that once had rich valuations as they courted millennial audiences. It rose to prominence alongside its co-founder Shane Smith, who built his media empire from a single Canadian magazine.

☆ Vice Media to Sell Itself as It Files for Bankruptcy
▼ + stars: | 2023-05-15 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

Vice said its media brands will continue to produce content. Photo: Mario Tama/Getty ImagesVice Media, the once-hot digital news startup that was valued at $5.7 billion at its peak, said it has received a rescue offer and filed for bankruptcy protection. The company, whose assets include Vice News, Vice TV, Refinery29 and Motherboard, on Monday said a group of its creditors, including Soros Fund Management, Fortress Investment Group and Monroe Capital , has agreed to buy Vice for about $225 million and take on “significant liabilities.” The agreement is subject to higher bids from other parties, it said.

☆ Morning Bid: Debt ceiling jitters, Turkey vote, Soros ditches Tesla
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +4 min

President Joe Biden is meeting Congressional leaders on Tuesday to try to hash out a compromise to raise the debt limit and avoid a catastrophic default. A regulatory filing on Friday from the family office of George Soros showed the 92-year old billionaire investor has sold his entire stake in Tesla. Soros bought shares in the electric vehicle maker, run by Elon Musk, in 2022, as well as convertible bonds in 2018. Soros wasn't alone in pulling out of some of the pandemic-era darlings in the first three months of the year. Friday's regulatory filing showed he loaded up on other big tech stocks, including Netflix, Uber, chipmaker Qualcomm and cloud-based data company Snowflake - which fellow 92-year old investor Warren Buffett bought into back in 2020.

☆ Vice Media files for Chapter 11 bankruptcy protection
▼ + stars: | 2023-05-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Vice Media filed for Chapter 11 bankruptcy protection Monday to facilitate a sale of the company, according to court documents and a statement from the struggling media group. The company, which publishes websites such as Vice, Motherboard, made the filing in the Southern District of New York. The sale process would allow other parties to submit “higher or better bids” for the company, it added. “This accelerated court-supervised sale process will strengthen the company and position Vice for long-term growth,” said co-chief executive officers Bruce Dixon and Hozefa Lokhandwala. News of the proposed sale comes weeks after the company announced a major restructuring, canceling its popular program “Vice News Tonight” and cutting dozens of jobs.

☆ Opinion: DeSantis’ comments about Jordan Neely’s death are part of a dangerous pattern
▼ + stars: | 2023-05-15 | by ( Opinion Dean Obeidallah | ) edition.cnn.com time to read: +6 min

Editor’s note: Dean Obeidallah, a former attorney, is the host of SiriusXM radio’s daily program “The Dean Obeidallah Show.” Follow him @DeanObeidallah@masto.ai. CNN —We are seeing an alarming pattern emerge in which some GOP leaders defend — and even pledge to pardon — people charged with or convicted of killing a person. “The unfortunate result was the unintended and unforeseen death of Mr. Neely.”Penny has received support from a score of right-wing figures. Instead, DeSantis is sending a message that if you are supported by the GOP base, we may have your back, even if you are charged in someone’s death. After Perry’s conviction, many on the right demanded GOP Texas Gov.

☆ Vice, Decayed Digital Colossus, Files for Bankruptcy
▼ + stars: | 2023-05-15 | by ( Lauren Hirsch | Benjamin Mullin | ) www.nytimes.com time to read: +1 min

Vice Media filed for bankruptcy on Monday, punctuating a yearslong descent from a new-media darling to a cautionary tale of the problems facing the digital publishing industry. A group of Vice’s lenders, including Fortress Investment Group and Soros Fund Management, is in the leading position to acquire the company out of bankruptcy. The group has submitted a bid of $225 million, which would be covered by its existing loans to the company. It would also take over “significant liabilities” from Vice after any deal closes. The lenders have secured a $20 million loan to continue operating Vice and then, if a better bid does not emerge, the group that includes Fortress and Soros will acquire Vice.

☆ Vice Media files for Chapter 11 bankruptcy to facilitate sale
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

May 15 (Reuters) - Vice Media Group, popular for websites such as Vice and Motherboard, filed for bankruptcy protection on Monday to engineer its sale to a group of lenders, capping years of financial difficulties and top-executive departures. The company listed both assets and liabilities in the range of $500 million to $1 billion, according to a court filing. Vice was among a group of fast-rising digital media ventures that once commanded rich valuations as they courted millennial audiences. It rose to prominence alongside its co-founder, Shane Smith, who built his media empire from a single Canadian magazine. In April, the company said it would cancel popular TV program "Vice News Tonight" as part of a broader restructuring that would result in job cuts across the digital media firm's global news business.

☆ Vice Media files for bankruptcy to enable sale to lenders including Soros and Fortress
▼ + stars: | 2023-05-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Once a digital media darling, Vice Media Group on Monday filed for bankruptcy protection after years of financial troubles. Vice is one of several digital media and technology firms forced to restructure this year amid a sluggish economy and weak advertising market. To facilitate its sale, Vice filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The consortium's bid includes a commitment of $20 million in cash to enable Vice's operations to continue throughout the sale process. Vice Co-CEOs Bruce Dixon and Hozefa Lokhandwala said in a statement that the sale process will "strengthen the Company and position VICE for long-term growth."

☆ Vice staffers fear salary and severance payments could be impacted as the company moves closer to bankruptcy
▼ + stars: | 2023-05-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Vice is expected to file for bankruptcy, and some staffers fear salary or severance payments could be affected. The WGA East represents the Vice Union and said it will work to ensure members receive "everything owed." Vice has cut dozens of staff along with canceling its cable show "Vice News Tonight." Last month Vice said it was axing "Vice News Tonight," which once aired on HBO but shifted in 2019 to Vice's own cable channel, Vice TV. A second Vice insider said: "Hundreds of people lose their jobs and Shane gets his back?

☆ Victory Day analysis: Putin tried to project strength, but Moscow parade revealed only his isolation
▼ + stars: | 2023-05-09 | by ( Nathan Hodge | ) edition.cnn.com time to read: +7 min

CNN —For Russian President Vladimir Putin, this year’s Victory Day parade in Red Square was a chance to continue his war on history. It has become a pawn to their cruel and selfish plans.”Despite the pomp of the parade, Putin cuts an increasingly isolated figure. In Russia, Putin and his regime have destroyed these values. A lone Soviet-era T-34 tank leads the procession in Moscow in contrast to the large array of military hardware on display on previous Victory Day parades. “Victory Day is the victory of our grandfathers,” he said.

☆ Einride: 2023 CNBC Disruptor 50
▼ + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

Swedish startup Einride is among those looking to swap out the diesel engines that currently dominate the industry in favor of fleets of autonomous electric vehicles . Just as electric vehicles are gaining popularity among consumers, so too are they catching on in the commercial trucking realm. Before Tesla, Renault Trucks, owned by Volvo, and Daimler, also produced and delivered electric heavy-duty trucks. Only 0.1% of heavy-duty trucks sold in Europe were zero-emission in 2021, according to BloombergNEF estimates. Electric trucks are also facing competition from hydrogen-powered vehicles, which boast quick refueling and a longer driving range, unlike electric vehicles.

☆ Stanley Druckenmiller says A.I. could win big coming out of a recession, and he's bullish on Nvidia
▼ + stars: | 2023-05-09 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

"It could be a beautiful opportunity in a hard landing just like '01, '02 ... a beautiful opportunity when the tech bubble bursts. NVDA YTD mountain Nvidia "My firm has only been able to participate in AI by owning Nvidia and Microsoft," Druckenmiller said. "It's not even clear to me if we had a really bad recession, that Nvidia would even come down." And now we have a big hike in interest rates." The Federal Reserve has hiked interest rates for 10 times since last year, taking the fed funds rate to a target range of 5%-5.25%, the highest since August 2007.

☆ Vice Media Nears Deal for $400 Million Sale Out of Bankruptcy
▼ + stars: | 2023-05-05 | by ( Alexander Saeedy | Jodi Xu Klein | ) www.wsj.com time to read: 1 min

Vice Media is nearing a deal for senior lenders including Fortress Investment Group and Soros Fund Management to acquire the troubled media company out of bankruptcy at a valuation of around $400 million, according to people familiar with the matter. Nearly every Vice stockholder—including backers such as private-equity firm TPG Group, Sixth Street Partners and media mogul James Murdoch—would be wiped out under the proposed reorganization, the people familiar with the matter said. Outstanding debts held by TPG and Sixth Street would also be impaired as part of the plan, the people said. The Murdoch family is a major shareholder in Journal parent News Corp .

☆ ‘Ron DeSoros’? Conspiracy Theorists Target Trump’s Rival.
▼ + stars: | 2023-05-05 | by ( Stuart A. Thompson | ) www.nytimes.com time to read: +1 min

To some, he is “Ron DeSoros,” a puppet of the Democratic megadonor George Soros. But he is finding that the conspiracy theories and outlandish attacks that Mr. Trump and his allies have aimed at rivals for years are coming for him as well. The attacks underscore the power that conspiracy theories continue to hold over Republican politics heading into the 2024 presidential election. To win the party’s nomination, Mr. DeSantis would probably need support from a Republican base that has produced many of the attacks against him. And while Mr. DeSantis enjoys broad support among Republicans, soaring to re-election victory just six months ago, the latest primary polls show Mr. Trump gaining a sizable lead.

New York CNN —Facebook’s parent company Meta announced Wednesday that it has taken down a network of more than 100 China-based accounts that posed as organizations in the US and Europe and pushed pro-Beijing talking points. The network, which had more than 15,000 followers on Meta’s platforms, appears to have had some financial resources behind it. The fake accounts also posted “negative commentary about Uyghur activists and critics of the Chinese state,” it said. “We’re keeping a close eye” on the Chinese influence operations heading into the 2024 election, the official said. Ahead of the 2022 US midterm election, FBI officials expressed concern that Chinese operatives appeared to be engaging in “Russian-style influence activities” that stoke American divisions.

Search resuls for: "soros"

25 mentions found