Blog posts



WeWork Co-Founder Has Cashed Out at Least $700 Million Via Sales, Loans

WeWork Co-Founder Has Cashed Out at Least $700 Million Via Sales, Loans

WeWork Cos. co-founder Adam Neumann has cashed out more than $700 million from the company ahead of its initial public offering through a mix of stock sales and debt, people familiar with the matter said—an unusually large sum given that startup founders typically wait for the IPO to monetize their holdings. Mr. Neumann, who is chief executive of the shared office-space giant and remains its single largest shareholder, over several years has sold some of his stake in the company and borrowed against some of his holdings, the people said.
Facebook is backpedaling from its ambitious vision for Libra

Facebook is backpedaling from its ambitious vision for Libra

David Marcus, the head of Facebook's new Calibra payments division, appeared before two hostile congressional committees this week with a simple message: Facebook knows policymakers are concerned about Libra, and Facebook won't move forward with the project until their concerns are addressed. While he didn't say so explicitly, Marcus' comments at hearings on Tuesday and Wednesday represented a dramatic shift in Facebook's conception of Libra. In Facebook's original vision, Libra would be an open and largely decentralized network, akin to Bitcoin. The core network would be beyond the reach of regulators. Regulatory compliance would be the responsibility of exchanges, wallets, and other services that are the "on ramps and off ramps" to the Libra ecosystem.
More Than 100 Marijuana Businesses Urge Congress To Include Social Equity In Legalization

More Than 100 Marijuana Businesses Urge Congress To Include Social Equity In Legalization

A coalition of more than 100 marijuana businesses and industry associations sent a letter to congressional leadership on Thursday, pressing them to ensure that any cannabis reform legislation include provisions promoting social equity in the industry. The letter describes the evolution in public opinion around marijuana policy, the mass incarceration implications of prohibition and the economic potential of legalizing and regulating cannabis. It makes the case that as Congress considers various proposals to change federal marijuana laws, the work won’t be complete with the mere end of prohibition.
Rocket-shooting drone, controlled by weaponized wet blanket, shuts down street party

Rocket-shooting drone, controlled by weaponized wet blanket, shuts down street party

While drones can be used to do extremely cool things, like allowing you to have a sausage delivered straight to your hot tub, they’re also capable of serving the whims of total dweebs who would rather end a party than enhance it with robot-provided snacks. A stunning, frightening example of this is shown via a recent video. In it, a drone hovers above a street filled with revelers enjoying a summer evening and, controlled by someone off screen, begins firing Roman candles at the frantic crowd.  The clip was uploaded to YouTube by someone—hopefully not the party-ruining jerk in question—named Roberto Estella and is titled with a single Portuguese sentence, which Google Translate renders as: “When you have funk dancing on the street get on your drone with a rocket and finish the party.”
Cannabis banking reform secures landmark US Senate panel hearing

Cannabis banking reform secures landmark US Senate panel hearing

A key U.S. Senate panel will meet next week to consider steps that could make it easier for marijuana companies to obtain banking services, a move that could pave the way for crucial MJ reform. The July 23 Senate Banking Committee hearing – which took industry officials by surprise – includes Sens. Jeff Merkley, an Oregon Democrat, and Cory Gardner, a Republican from Colorado. Both are backing the Secure and Fair Enforcement (SAFE) Banking Act. That bill would enable financial institutions to serve state-authorized marijuana businesses without fear of federal punishment. Lawmakers have become interested in the issue in part because of public-safety concerns of the largely cash-only cannabis industry.
Apple Plans to Bankroll Original Podcasts to Fend Off Rivals

Apple Plans to Bankroll Original Podcasts to Fend Off Rivals

Apple Inc. plans to fund original podcasts that would be exclusive to its audio service, according to people familiar with the matter, increasing its investment in the industry to keep competitors Spotify and Stitcher at bay. Executives at the company have reached out to media companies and their representatives to discuss buying exclusive rights to podcasts, according to the people, who asked not to be identified because the conversations are preliminary. Apple has yet to outline a clear strategy, but has said it plans to pursue the kind of deals it didn’t make before.
FDA Says It Is Speeding Up The CBD Regulation Process

FDA Says It Is Speeding Up The CBD Regulation Process

The Food and Drug Administration (FDA) said on Friday that it was “expediting” its efforts to develop rules for CBD and plans to issue a report on the department’s progress by early fall. FDA Acting Chief Information Officer Amy Abernethy tweeted that “FDA is expediting its work to address the many questions about cannabidiol (CBD),” describing it as “an important national issue with public health impact, & an important topic for American hemp farmers and many other stakeholders.” “We are enthusiastic about research into the therapeutic benefits of CBD products but also need to balance safety,” she said. “To understand the breadth of issues and gather data on safety we have conducted a public hearing, reviewed the medical literature, and have an open public docket.”
Zillow sues Kentucky over access to real estate records

Zillow sues Kentucky over access to real estate records

LOUISVILLE, Ky. (WDRB) – Zillow, the Seattle-based real estate data company, is suing Kentucky and six locally elected Property Valuation Administrators over access to public information about real estate. The six county PVAs named in the lawsuit want to charge Zillow up to $39,079 apiece for copies of their tax rolls listing information about every real estate parcel in the county, such as its owner, sales price history and tax value, according to the lawsuit. Zillow, an advertising business, taps property tax records and other sources to provide free information on its website about residential real estate, such as its “Zestimate,” or estimate of a home’s market value.
Arm’s new licensing option lets its partners experiment and test for free before they pay

Arm’s new licensing option lets its partners experiment and test for free before they pay

Arm today launched Flexible Access, a new licensing scheme in addition to its existing model that will make it easier for startups to gain access to a wide range of Arm’s intellectual property (IP) without any upfront licensing costs. Intellectual property licensing schemes for chips may not strike you as the most exciting thing. But as the number of companies building their own silicon increases, often for very specialized use cases, having access to the IP from companies like Arm is something more companies than ever are looking to have. Until now, the only way to get access to Arm’s IP was to select upfront the products you wanted to license. That works for large companies that know exactly what they want, but for smaller companies, that’s a bit of a barrier, given that they are likely still trying to figure out what exactly they need.
Zillow Offers expands to Portland, its first Pacific Northwest market for direct home sales

Zillow Offers expands to Portland, its first Pacific Northwest market for direct home sales

Zillow Group is set to start buying houses in the Pacific Northwest for the first time. Zillow Offers, the service that lets customers request cash offers for their homes directly from Zillow on its website, kicks off Monday in Portland and Vancouver, Wash. As Zillow has made instant offers the centerpiece of the business, it has expanded to 12 markets across the country, with plans to grow even further. “Sellers across the country have shown that they are looking for an easier, less stressful way to sell their home,” Zillow Brand President Jeremy Wacksman said in a statement. “We’re excited to launch our first market in the Pacific Northwest today, giving potential home sellers in Portland and Vancouver the certainty and transparency they want when selling their home. Zillow Offers provides a seamless transaction experience, helping sellers move on to the next step in their life.”
Questions?
Click here to chat with us

_