Monthly Archives: November 2022

Sam Bankman-Fried’s FTX spent $300 million on homes and vacation properties for senior staff, an attorney for the collapsed crypto exchange said

FTX founder Sam Bankman-Fried ran the exchange like a “personal fiefdom”, a bankruptcy lawyer said Tuesday. Getty Images Sam Bankman-Fried ran FTX like a “personal fiefdom”, a bankruptcy lawyer said Tuesday. “Substantial amounts of money were spent on things not related to the business,” James Bromley said. The crypto exchange spent around $300 million buying…

Cathie Wood still sees bitcoin hitting $1 million by 2030 as the current crisis will have the token ‘coming out of this smelling like a rose’

Cathie Wood, chief executive officer and chief investment officer of Ark Invest. Patrick T. Fallon/Getty Images Cathie Wood reiterated her forecast of bitcoin hitting $1 million by 2030 in a Bloomberg interview Tuesday.  She believes the underlying technology of the blockchain will give bitcoin staying power.  “Sometimes you need to battle test, you need to…

Twitter employee says the NY office cafeteria is serving 2 types of mac and cheese but grilled shrimp is off the menu, as cost-cutting continues

Elon Musk is seeking to cut costs at Twitter. Yasin Ozturk/Anadolu Agency via Getty Images Changes have been made to a cafeteria menu amid Elon Musk’s cost-cutting at Twitter, per the NYT. One employee said the New York office was no longer offering grilled shrimp on Monday. Elon Musk previously claimed that the lunches were…

Meet the 24 most promising retail tech power players revolutionizing how brands operate and customers buy online and in stores

Damir Becirovic of Index Ventures, Meera Clark of Redpoint Ventures, Morad Elhafed of Battery Ventures, and Amy Saper of Accel. Damir Becirovic/Index Ventures, Meera Clark/Redpoint Ventures, Morad Elhafed/Battery Venture, Amy Saper/ Accel, Tyler Le/Insider Insider talked to top VCs and asked them to pick the most promising startups so far in 2022. VCs were asked…

If the Biden administration doesn’t step in to block the $25 billion Kroger-Albertsons merger, it will be devastating for shoppers and grocery-store workers — while the rich shareholders will get richer

Kroger and Albertsons announced a merger. Brandon Bell/Getty Images and Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Paul Constant is a writer at Civic Ventures and the cohost of the “Pitchfork Economics” podcast. Last month, Kroger announced a $25 billion deal to merge with grocery chain Albertsons. History has shown prices can go up and workers…