Elon Musk offloaded $6.9 billion of stock in Tesla, the billionaire’s biggest sale on record, saying he wanted to avoid a last-minute selloff of the electric-car maker’s shares in the event he is forced to go ahead with his aborted deal to buy Twitter.
Tesla’s chief executive officer sold about 7.92 million shares on Aug. 5, according to a series of regulatory filings th…
Read more
Podcasters are always hunting for new, flashy places to promote their shows, ranging from billboards to floats in parades to airplane banners. Some networks, though, have uncovered a less-glamorous, yet highly effective way to gain millions of bankable listeners: loading up mobile games with a particular kind of ad.
Each time a player taps on one of these fleeting in-game ads—and wi…
Read more
There is so much lithium on Rhyolite Ridge, a plot of land in southwestern Nevada, that Ford, Toyota, and Panasonic have all inked deals to buy it, even though none of the metal has been yet excavated. So much lithium, says Ioneer, the Australian company seeking government approval to mine it that it could supply 370,000 electric vehicles a year, about half the number of total EVs sold in the U…
Read more
It’s been a difficult year for shoppers looking for cars, electronics and anything that requires a computer chip. A global semiconductor shortage has left many companies unable to fill orders or even finish products they’ve started assembling, clogging up warehouses and leaving a lack of inventory across the nation.
Buying a new PlayStation 5 console remains nearly impossible.…
Read more
Elon Musk can bring a Twitter Inc. whistle-blower’s complaint about spam and bots on the social media platform into his defense against the company’s lawsuit to make him complete his $44 billion buyout, a judge ruled.
Musk’s legal team is permitted “incremental discovery relevant to the new allegations” raised by the whistle-blower, Delaware Chancery Judge Ka…
Read more
Understanding climate change requires wrapping your head around some crazy financial figures. To transition the global economy away from fossil fuels, governments, financiers, and businesses must invest some $4 trillion into clean energy every year beginning in 2030, according to the International Energy Agency. That sounds like a lot, but it’s dwarfed by the cost of doing nothing. Insura…
Read more
Twitter Inc. “took action” on a record number of user accounts for violating the company’s hate speech policies during the second half of 2020, a reflection of the company’s decision to expand its rules.
(To receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.)
Airbnb CEO Brian Chesky recently announced that the company’s employees will be able to work from anywhere, including (for up to three months) overseas. He also abolished location -based pay, at least within the U.S. In the days following th…
Read more
The U.S. government has sold the only copy of the Wu-Tang Clan’s “Once Upon a Time in Shaolin,” an album that had been owned by “Pharma Bro” Martin Shkreli.
The price and identity of the buyer is being kept secret, per terms of the sale, according to a press release Tuesday from the acting U.S. Attorney for the Eastern District of New York. “The buyer&r…
Read more
Yahoo and LinkedIn are the latest U.S. companies to throw in the towel amid China’s sweeping crackdown on private enterprise—with both announcing they are ending their services in the world’s most populous country.
But even as many experts say Beijing is presenting an increasingly hostile business environment for U.S. firms, the vast majority say they have no intention o…
Read more