Summary: Digestible financial news. Get smarter fast with an entertaining breakdown of our top 3 business stories in 15 minutes. Pairs perfectly with your commute, workout, or morning oatmeal ritual. Hosted by Jack Kramer and Nick Martell.
Clothing delivery site Stitch Fix has soared 76% this year -- But it’s still got one problem to fix. $100B GE used to be worth $600B and the CEO had no plan to get them back there. And the trade deal formerly known as NAFTA is now “USMCA” so we got everything you need to know about it.
After Tesla’s CEO got sued by the SEC, we were worried about the company and wished Elon had settled instead -- and at 8pm EST Saturday night he did. BlackBerry’s phone days are dead, but its new software biz is crushing life. And The Infatuation’s a food review website that just raised $30M because its future is the future of media.
80% of Americans use Stripe, the payment processor just raised $245M to reach a $20B valuation. Fast fashion icon H&M has $4.1B in unsold clothes, but it’s new store concept is saving the chain. And real estate disruptors Compass and Opendoor both just raised $400M… from the same venture capital firm.
The first day of trading for SurveyMonkey was awesome, but it shows the company left money on the table. The wedding industry is absurdly profitable and every couple uses The Knot (which just got bought). And DreamForce shut down San Francisco just like Salesforce software shuts down your brain
The stock may have dipped, but Nike’s earnings last quarter deserve a starting spot after the performances of their top sponsored athletes. Arby’s owner dropped $2.3B for drive-in Sonic because Millennials can’t kill fast food. And Instagram’s co-founders left Facebook on awkward terms, and there's 1 big takeaway for Zuck.
What companies didn’t get bought yesterday? The world’s biggest audio entertainment company is about to be created as SiriusXM buys Pandora for $3.5B. Michael Kors followed fashionably by acquiring Italian fashion house Versace for $2.4B. And a new Congressional bill hooks up fliers at the expense of airlines (no more lying about weather cancellations).
Makes no sense -- Stocks hit record highs last week even though the Trade War got way worse... so we looked into why. Airbnb sent an email to the SEC about changing a key rule so it can give you stock in itself without an IPO. And Comcast beat Fox and Disney in a crazy British auction to buy European media giant Sky in order to take on Netflix worldwide.
It’s pre-pre-holiday season, so Amazon suddenly announced a surprise product reveal event: 8 new Echo/Alexa products so you can dominate gift giving (including a microwave). Gap’s struggling hard, so it’s going all-in on the athleisurewear trend with a guy brand to complement Athleta. And after a 60-year holdout, Budweiser-owner AB-InBev got a blessing from the playing field with a new deal to put athletes in commercials.
No more lying to your boss about how much you ran this morning -- Fitbit shares rose for its new feature that tracks all your health data for your employer. Erectile dysfunction startup Roman is less than a year old, but just raised $88M to change its name and take on a new problem. And Airstream-owner Thor (great name) makes a big move to take RVing worldwide.
Cereal was killing General Mills -- But shares dropped 7% because it’s lost its 1 good thing. Postmates raised $300M to officially become a unicorn, so the CEO saddled up on some IPO plans. And Audi’s new electric SUV dropped Tesla’s stock -- and it’s partnered up with Amazon to convince you to buy one.
Cannabis stocks surged on word Coca-Cola’s been chatting with Aurora Growth to create a “functional wellness beverage” using pot ingredients. Amazon’s got a problem with ratings fraud that could hurt trust at a critical time. And Salesforce CEO Marc Benioff and his wife, Lynne, bought Time Magazine as a “social impact” investment -- that reflects a sad thing for news journalism.
Goldman Sachs’ stock fell for 11 straight days. The new CEO has a tough first assignment: Get the mojo back. A Brazilian e-scooter and bike startup is learning from its American first-movers on how to do mobility -- And its record $63M Series A could make it even better than Bird or Lime. And Google wants to make money again in China, but it’s employees don’t -- their new secret internal email chain reveals it.
Walmart went way out of its comfort zone, tossing an urban makeover all over its Jet.com ecommerce website. Restoration Hardware’s unreal new flagship store shows it’s making brick-and-mortar retail aggressively experiential (think Vegas meets Disney meets Martha Stewart). And spinning disruptor Peloton wants to sweat-challenge Flywheel, so it's suing its competitor for 2 reasons.
Apple’s epic annual product unveil came down to 4 things -- we’re not that impressed, but we got you covered on all of them. Tobacco stocks are loving that e-cigarette unicorn Juul just got hit hard by the FDA’s anti-teen smoking task force. And Snap’s stuck with 2 problems in 1 day that dropped shares to their worst level ever.
The Winklevosses (Winklevii?) created a less-volatile “stable-coin” tied to the US dollar to make cryptocurrencies easy enough for grandma. Uber finally hired a Chief Marketing Officer to fix its greatest weakness before the IPO. And your childhood go-tos Yahoo and AOL hoped to make a comeback at Verizon -- but the wireless conglomerate just lost interest.