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Vox.com Co-Founder Matthew Yglesias Departs

Photo credit: ygurvitz , licensed under CC BY-NC-ND 2.0 Matthew Yglesias, an American journalist who co-founded the popular Vox.com explanatory journalism site, has announced his departure from the site he co-founded six years ago. Yglesias has set up another journalism outlet that's built on the popular Substack platform for subscription content. That outlet is named 'Snow Boring', which Yglesias touts as reclaiming "what I had in my blog days as an independent voice", likely comparing to Vox.com which is known to be left-leaning as concerning American politics. Yglesias's departure comes six years after he co-founded Vox.com under the umbrella of Vox Media, a digital media company that operates other popular brands such as technology news site The Verge , real estate site Curbed , and sports site SB Nation . He co-founded Vox together with journalists Ezra Klein and Melissa Bell after leaving a previous popular outlet, Slate . Yglesias has a storied c

Elizabeth Holmes' Theranos Trial Set For March 2021

Photo credit: Stuart Isett/Fortune Global Forum, under Creative Commons license The trial of Elizabeth Holmes, the woman famous for founding Theranos, a now defunct medical testing startup that's accused of defrauding investors, has been set on the 9th of March, 2021. Initially set at an earlier date, Holmes' trial was delayed due to the coronavirus pandemic. She's facing 12 fraud charges from federal prosecutors, accused of defrauding investors who poured hundreds of millions of dollars into Theranos. Also facing trial is co-defendant Ramesh "Sunny" Balwani, Theranos's former Chief Operating Officer and President. Expected to be called as witnesses before the trial include prominent individuals such as former U.S. Secretary of Defense James Mattis, former U.S. Secretary of State Henry Kissinger and media mogul Rupert Murdoch, who is known to have lost $125 million from investing in Theranos. Holmes and Balwani each face up to 20 years in prison if

Elon Musk Offloads Bel Air Mansion To Fellow Tech Billionaire

Elon Musk seems to be making do on his promise to sell all his physical possessions , having just sold one of his Bel Air houses, the main one actually, to a fellow tech billionaire, William Ding, for $29 million. Musk seems to have reaped a sweet investment return, having purchased the property for 'only' $17 million in 2012. The property was purchased from hedge fund tycoon Mitch Julis. Musk previously rented the noticeably big house before he purchased it. The property had been listed for $30 million by Musk, on the heels of his promise to sell his physical possessions. Altogether, Musk listed seven houses for an aggregate price of $98 million. One down, six to go! In a statement to the Wall Street Journal last month, Musk said he was selling his homes to “make my life as simple as possible right now.”

Johnson & Johnson Snaps Up Momenta Pharmaceuticals

Johnson & Johnson CEO Alex Gorsky. Photo credit: Stuart Isett/Fortune, under Creative Commons license Johnson & Johnson, the healthcare and medical devices multinational, has reached a deal to acquire Momenta Pharmaceuticals, a biotechnology company that focuses on treatments for immune-related diseases, for a total of $6.5 billion, representing a 70% premium price to Momenta's closing price the day before a deal was reached. The acquisition has been approved by board members at both companies and is expected to be completed in the second half of this year. It marks one of the largest acquisitions ever in the general biotech sector and also for Johnson & Johnson, which is, however, not new to making such big acquisitions. In the past, the company has doled out billions of dollars for a handful of companies, including as much as $30 billion for its landmark purchase of Actelion Pharmaceuticals that was completed in 2017.

Brief: Saudi Arabia's King Salman Admitted To Hospital

Salman bin Abdulaziz Al Saud, the 84-year-old King of Saudi Arabia, has been admitted to a Saudi Arabian hospital after suffering from inflammation of the gall bladder, as first made known by state media. On Monday, the Saudi Press Agency announced that King Salman was undergoing medical checks in the state of Riyadh but didn't disclose any further details. On the heels of Salman's hospitalization, Iraqi Prime Minister Mustafa al-Kadhimi postponed a scheduled visit to Riyadh, as announced by the Saudi foreign minister. Before now, King Salman is believed to have been suffering from dementia. He became King of Saudi Arabia in 2015 following the death of his half-brother, King Abdullah. As of recent, however, he has gradually handed power over the Saudi kingdom to one of his sons, the infamous Mohammad Bin Salman, who himself became the Saudi crown prince in June 2017 following his father's decision to depose the previous crown prince, Muhammad bin Nayef, from all his

Bridgewater Bets Hundreds Of Millions On Gold

Ray Dalio, Chairman and Co-Chief Investment Officer, Bridgewater Associates. Bridgewater Associates, the famous hedge fund led by billionaire Ray Dalio, invested more than $400 million in gold in the second quarter of this year, as indicated by filings. Investing via exchange-traded funds, Bridgewater during the quarter bought 1.4 million shares in the SPDR Gold Shares ETF and 4.1 million shares in the iShares Gold Trust. Altogether, the two positions equate to 170,000 ounces of gold at current prices. According to filings, Bridgewater's total equity assets now stand at $6 billion. The hedge fund, which manages well over $100 billion for investors, suffered sizeable losses as the coronavirus pandemic affected markets globally. It's such that the value Bridgewater's assets fell from $163 billion at the end of February of this year to $138 billion at the end of April due to losses and investors pulling out their money from the company's funds. According to the Wall

Elon Musk To Sell Physical Possessions: Elon Musk

Photo credit: NASA/Aubrey Gemignani, under Creative Commons license Elon Musk, the famed CEO of electric car manufacturer Tesla and aerospace company SpaceX, has tweeted out something unusual once again, this time, stating that he's "selling almost all [of his] physical possessions" and "will own no house". He, however, states of one exception, a Bel-air mansion previously owned by American entertainment legend Gene Wilder, which Musk purchased for $6.8 million in 2013. Just one stipulation on sale: I own Gene Wilder’s old house. It cannot be torn down or lose any its soul. — Elon Musk (@elonmusk) May 1, 2020 Musk recently embarked on what can be termed as a tweet rampage, tweeting out links and statements in support of rolling away lockdowns across the U.S. that were enacted to help curtail the coronavirus pandemic, alongside other eccentric statements. Excerpts from his tweets include "FREE AMERICA NOW", "Why forced isolation is

Intuit Pursued BigCommerce Before IPO: Report

Intuit CEO Sasan Goodarzi. Photo credit: Stuart Isett for Fortune Magazine, under Creative Commons license BigCommerce, the e-commerce platform, recently debuted on the public markets, raising $216 million from the sale of 9 million shares to investors. Currently (as of writing), the company sports a market cap hovering around $4.4 billion. Going by a recent report from CNBC , it seems that Intuit, the popular business and financial software company, tried to acquire BigCommerce before the company went public. According to CNBC , Intuit offered $1.5 billion for the company just about a month before its public listing. Such a price would have been a big win for BigCommerce, which had raised $219 million in funding as a private company. However, with a current value of more than $4 billion on the public markets, Intuit appears to have clinched an even bigger win from its public listing. Over the past year, Intuit has pursued sizeable acquisitions, the most recent being Trad

Apple To Roll Out Installment Payment Plans For Apple Devices On Apple Card: Report

Apple CEO Tim Cook. According to a report from Bloomberg , Apple is preparing to offer monthly payment plans for many of its products, including iPads, Macs, and Airpods, on the Apple Card. Bloomberg reports Apple will offer a 12-month interest-free payment plan for gadgets including the iPads, Macs, the Apple Pencil, and iPad keyboards, and six-month interest-free plans for the AirPods, HomePod, and Apple TV. Apple notably started a similar program for the iPhone last year, offering 24-month long payment plans Apple Card users. Apple chief executive Tim Cook had previously said the company would begin to offer installment payment services for products beyond the iPhone but, however, didn't provide specifics. With such payment plans, Apple is apparently looking to boost sales of its products, which are usually costly. Such plans could also attract more users for the Apple Card, which the company released in partnership with financial services giant Goldman Sachs last year.

Bill Gates Bombarded With Guff Vaccine Conspiracy Theories

Photo credit: World Economic Forum / Valeriano Di Domenico, under Creative Commons license In the middle of a coronavirus pandemic, where famed entrepreneur and philanthropist Bill Gates has committed to fund seven factories for the development of potential coronavirus vaccines and has also committed additional funding to support potential therapeutics and treatments as well as healthcare facilities, Bill Gates as a person has been subject to guff 'conspiracy' theories asserting hidden and perverse intent as regards to his commitments to help battle the coronavirus pandemic as well as his previous works on vaccine-related causes. It isn't new to hear of bizarre conspiracy theories surrounding Gates' work with vaccines and disease eradication. He wants to de-populate the earth, some say . He's helping create a surveillance state , some espouse. He wants to implant microchips in people?!! . Such bizarre assertions could, however, be disproved with simple fact

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