Author: Heidi Hecht

When Elon Musk bought Twitter in late 2022, he didn’t foot the $44 billion price tag alone. A pool of X investors pitched in to take the company private. In doing so, Musk freed Twitter (now X) from public reporting requirements—including disclosures about its financial backers. This decision allowed some investors to remain in the shadows. However, tech journalist Jacob Silverman, backed by the Reporters Committee for Freedom of the Press, petitioned to have X’s financial disclosures unsealed. In late August, a California court sided with Silverman, ordering Twitter/X investor list and financial structure and revealed. X Investor List: Familiar…

WeWork was once a “unicorn” startup, valued at $47 billion by investors. It specialized in the then-revolutionary idea of shared workspaces for remote workers and entrepreneurs seeking affordable office space. At its height, WeWork managed $15 billion in assets. However, it also had $18.6 billion in debt. CEO David Tolley later described WeWork’s primary issue as “unsustainable hyper growth.” In September 2023, WeWork was renegotiating its lease liabilities, which comprised 2/3 of its operating expenses. COVID-19 pandemic didn’t help matters, as many remote workers decided it was safer to work from home than to pay for coworking space. But by…

Unmarried women have significantly high homeownership rates than unmarried men. But the reason for that gap is not what it seems.

Wharton School of Business — Trump’s alma matter – analyzed both candidate’s economic proposals impact of nation debt over a 1-year period.

The detailed, cross-sectional study highlighted the enormous amount of income the average renter spends before buying a home.

Visa and Mastercard represent 80% of the credit card transaction market and more than 90% of their revenue is profit.

Federal Reserve Chair Jerome Powell indicated that interest rate cuts may come as early as September 18. However, he did not say how large the reduction might be, though experts expect them to be conservative. Powell cited cooling inflation and uncertain job markets. A Bureau of Labor Statistics report indicates that a modest 114,000 jobs were added in July 2024 — lower than expected. Meanwhile, the unemployment rate rose to 4.3%. On July 31, the Federal Reserve’s Board of Directors voted to keep interest rates at 5.5%, where they have been since July 2023. They plan to monitor economic indicators…

Billionaire Mark Cuban’s Cost Plus Drug planning on the use of A.I.-driven drug manufacturing to fill market shortages.

The Federal Trade Commission implemented a new series of rules targeting fake reviews and bot engagement on social media.

California Governor Gavin Newsom announces new initiative to add driver’s license and state-issued photo IDs to Apple and Google Wallet.