Category Archives: Business

America’s Retail Apocalypse

America’s ‘Retail Apocalypse’ Is Really Just Beginning: The reason isn’t as simple as Amazon.com Inc. taking market share or twenty-somethings spending more on experiences than things. The root cause is that many of these long-standing chains are overloaded with debt—often from leveraged buyouts led by private equity firms. There are billions in borrowings on the […]

Holden Shuts Down

Australia Mourns the End of Its Car Manufacturing Industry: Kane Butterfield started working for Holden at 19 in a small South Australian town built around making the distinctly Australian cars. But on Friday, after 17 years with the company at its Adelaide auto plant, he and hundreds of other employees bid it farewell, as the […]

The Slow Death of Retail

Lord & Taylor Building, Icon of New York Retail, to Become WeWork Headquarters: From the moment it opened its doors more than a century ago, the Lord & Taylor building on Fifth Avenue in Manhattan has stood as an icon of old-school retail. Its Italian Renaissance design, complete with grand entrance arch and copper cornice, […]

The App Store

Back in June, Horace Dediu took a look at 9 years of numbers for the App Store: The App Store is almost 9 years old. In that time it has generated about $100 billion in revenues, of which about $70 billion has been passed on to developers and $30 billion was kept by Apple. It’s […]

Too Much CBD Oil for Nate Diaz

Coach: Nate Diaz ‘needs to get paid at least $20 million’ for Conor McGregor trilogy: Conor McGregor’s huge paycheck for his boxing match with Floyd Mayweather could mean more money for his future UFC opponents — at least that’s what Nate Diaz’s boxing coach Richard Perez is hoping for. Diaz’s last two fights under the […]

C.E.O.s Disbanding

Trump’s Council of C.E.O.s in Disarray Following Remarks on Protest: President Trump’s main council of top corporate leaders appeared on the verge of disbanding on Wednesday, said people briefed on the matter, following controversial remarks from Mr. Trump on Tuesday when he equated white nationalist hate groups with the protesters opposing them. Late Wednesday morning, […]

Paying for Shit

SoundCloud stays afloat with emergency investment, as CEO steps aside: SoundCloud today announced that it has closed the investor round necessary to keep it going for the foreseeable future. As part of the agreement, Alex Ljung will step aside and former Vimeo leader Kerry Trainor will become SoundCloud’s new CEO, with Mike Weissman as COO. […]

Dickheads in Tech

The latest dickeads-in-tech news comes from Google this week: Alphabet Inc.’s Google has fired an employee who wrote an internal memo blasting the web company’s diversity policies, creating a firestorm across Silicon Valley. James Damore, the Google engineer who wrote the note, confirmed his dismissal in an email, saying that he had been fired for […]

Uber’s Chief Douchebag is Out

Uber Founder Travis Kalanick Resigns as C.E.O. Travis Kalanick stepped down Tuesday as chief executive of Uber, the ride-hailing service that he helped found in 2009 and built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company. Mr. Kalanick’s exit came under pressure after hours […]

Uber, Context Is Everything

David Bonderman Resigns From Uber Board After Sexist Remark: David Bonderman, an Uber board member and partner at private equity firm TPG, resigned from the board of the ride-hailing company after he made a disparaging remark about women at an Uber meeting on Tuesday. Earlier in the day at an Uber staff meeting to discuss […]

From the Top, Down

As if there weren’t enough scandals at Uber already, here are just a few headlines from the past week: A Top Uber Executive Departs, Fraying the Company’s ‘A-Team’ Uber’s CEO Searches for Enlightenment in Company Lactation Room Uber Weighs Leave of Absence for Chief Executive Uber’s Travis Kalanick offered sex rules for 2013 party Regardless […]

Apple’s $1 Billion US Manufacturing Boost

Apple just promised to give US manufacturing a $1 billion boost: Apple CEO Tim Cook said that his company will start a $1 billion fund to promote advanced manufacturing jobs in the United States. “We’re announcing it today. So you’re the first person I’m telling,” Cook told “Mad Money” host Jim Cramer on Wednesday. “Well, […]