• In 2016, a spectacular series of hacks siphoned millions of dollars worth of the cryptocurrency ether from a virtual venture capital fund called the DAO Link
    Businessweek Mon 21 Sep 2020 03:16
    spectacular series of hacks siphoned millions of dollars worth of the cryptocurrency ether from a virtual venture capital fund called the DAO. In a new book, Bloomberg News reporter Matthew Leising tells the story of the DAO hack and the growth of Ethereum—the Bitcoin-like blockchain technology that works with the ether token. The search for the name of anyone potentially associated with the hacks was twisty and mind-bending—so we’ve adapted this excerpt with footnotes to guide your way. It was a beautiful day in Zurich, and I couldn’t tell if my hand shook from the coffee I’d had or if I was scared. The man across the table from me wore glasses and a plaid scarf. He was maybe in his late 50s and had lost some hair. I thought I was talking to a thief.

  • This year's business school ranking isn't a ranking. Bloomberg Businessweek analyzed the best business schools and MBA programs and measured their virtual offerings in the coronavirus pandemic. Here's what we found Link
    Businessweek Mon 21 Sep 2020 02:46

    Covid-19 has turned business school programs upside down. The persistence of the virus, social-distancing requirements, and travel restrictions keep many campuses shuttered or barely open. Remote learning robs students of valuable networking opportunities. Professors and students try hard to adapt. Schools struggle to meet their costs and justify their tuition.

    How do we rank B-Schools in such an environment? We don't.

    Instead we focus on getting the B-School community back on its feet. We ask: What's working, what's not, and how would you like B-School education to change now and when it emerges from a global pandemic. To find answers, we surveyed 3,532 MBA students from 95 schools around the world.

    The results surprised us. Despite the uproar when schools shifted to online teaching, half the students would be willing to take a portion of their courses online in exchange for tuition cuts. Professors actually received high marks for their...

  • Online MBA classes could be here to stay even after the coronavirus pandemic Link
    Businessweek Mon 21 Sep 2020 01:41

    While MBA students were generally disappointed with the shift to online learning, there are some features of virtual classes they liked—and want to see continued even after in-person instruction resumes, a Bloomberg Businessweek survey of MBA students shows.

  • An American MBA isn’t worth what it once was, foreign students say Link
    Businessweek Mon 21 Sep 2020 01:21

    A deadly virus and tight visa rules have foreign business students second-guessing their choice of the U.S., leery of paying full tuition only to miss out on the networking opportunities—and jobs—that have made America the ultimate destination for an MBA.

  • Palantir is abandoning Big Tech and embracing Big Government as it prepares to go public Link
    Businessweek Mon 21 Sep 2020 00:26

    As it prepares to go public, Palantir has added a new adversary: its former hometown. After Chief Executive Officer Alex Karp complained about the liberal “monoculture” in the Bay Area, the company announced its relocation from Silicon Valley to Denver—the better to communicate that it doesn’t care about the outcry over its

  • Mark Zuckerberg has told employees that Facebook is likely to fare better under Republicans, according to people familiar with the conversations Link
    Businessweek Sun 20 Sep 2020 23:51
    radio show in January. Trump is technically not the top politician by followers on Facebook. That would be former President Barack Obama. But as the country’s most powerful newsmaker and the person in charge of a government that’s been aggressively pursuing antitrust cases against big tech companies, he does have
  • Fine dining in NYC now includes state-of-the-art air filtration and a ‘welcoming center’ Link
    Businessweek Sun 20 Sep 2020 23:31

    This is New York’s first Michelin three-star restaurant to announce it is reopening for indoor dining. The Midtown Manhattan spot has stayed closed throughout the pandemic, without an option for takeout or outdoor dining.

  • Silicon Valley's elite have descended in droves on Lake Tahoe -- and it's drastically transformed the area in a matter of months. Link
    Businessweek Sun 20 Sep 2020 22:46

    The vibe is pre-Covid San Francisco: Airpods, electric scooters, coffee-shop coworking and cash offers for million-dollar homes.In fact, the scene is unfolding more than three hours to the northeast, on the shores of sparkling Lake Tahoe.

  • The Covid-19 pandemic was catastrophic for New York City's cabdrivers. This is what happens to them when there are no passengers Link
    Businessweek Sun 20 Sep 2020 22:36

    Drivers are drinking coffee. Drivers are sleeping. Drivers are listening to the radio, smoking, and chatting under the early morning streetlights, waiting in a line that stretches along a once-busy street on the Lower East Side of Manhattan. The first driver took his place at 3:30 a.m. on this August day. At about 8 a.m., he and few dozen others in line will move to a nearby parking lot on the East River and start loading their yellow cabs and private cars with boxes of free food. Then they’ll hustle out to hungry people across the five boroughs of New York City, deliver the meals, and return for more. They’ll each make $53 per route, a few hundred dollars a day if they hurry. Most days they don’t earn as much as they would with passengers, but “it’s better than nothing,” says Faisal Tawfiq, a driver from Ghana.

  • 49% of MBA students say they’d accept some permanent shift to online coursework if it came with tuition cuts Link
    Businessweek Sun 20 Sep 2020 22:06
    coronavirus pandemic led to an extraordinary and almost overnight shift to online learning at MBA programs. Because of the overwhelming impact on business school education, this year Bloomberg Businessweek chose not to rank MBA programs. Instead, we surveyed 3,532 first- and second-year students from 95 schools around the world to understand what was working in the now-online programs—and where students felt shortchanged.

  • Mapping the deadly wildfires in California, Oregon and Washington Link
    Businessweek Sun 20 Sep 2020 21:46

    Hot, dry conditions and high winds have fueled wildfires of historic proportions scorching the western United States. Precipitated by everything from lightning strikes, powerful wind storms and a gender reveal party, the fires have transformed the landscape of California, Oregon and Washington. Smoke from the blazes could be seen from satellites choking much of the region—billowing into the Pacific and cascading into British Columbia. Here’s where the fires are burning.

  • Flaws in Georgia's election system let 1,000 people vote twice Link
    Businessweek Sun 20 Sep 2020 20:56

    Lynn Elander, a semi-retired marketing executive in Atlanta, voted twice in Georgia’s presidential and U.S. Senate primary races this year. She didn’t mean to, she says. But Georgia’s election system let her do it.

  • What might extinguish a significant chunk of America’s struggling small businesses in the coming months? Their inability to pay rent Link
    Businessweek Sun 20 Sep 2020 20:41

    What might extinguish a significant chunk of America’s struggling small businesses in the coming months? Their inability to pay rent. Or really, their inability to get landlords to negotiate on rent. The situation has been under the radar for the general public for since day one of the pandemic but remains an “enormous problem” for local business owners, says Mary Alice Scott, executive director of the Portland Independent Business and Community Alliance in Maine. When businesses closed temporarily, the fell behind on paying rent—most by at least three or four months, says Rolando Gonzalez, a senior staff attorney at the Legal Aid Society’s Community Development Project in New York.  “The problem is, even after they opened back up, their revenues are down.” The rent problem is “only going to get worse," he says.

  • Clothing retailers in cities, suburbs and tourist locations are getting pummeled by the pandemic. Here's how to keep your business afloat Link
    Businessweek Sun 20 Sep 2020 20:01
    Eccentricity, a women’s clothing store in Wellfleet, Mass., is stocked with inventive, loosely fitting fashions that appeal mostly to middle aged and older women. Owner Gail McGibbon, who has run the store with her husband since 1985,  gives disposable gloves to customers who want to try on clothing, masks to those not already wearing them and plenty of advice about what shirt and necklace go best with what pair of pants.

  • This is a blockbuster year for auction houses when it comes to selling watches. Here's what to look for Link
    Businessweek Sun 20 Sep 2020 18:56

    The world may be in a state of Covid-19 chaos, with growing unemployment, a spiraling death rate, and no vaccine on the immediate horizon, but someone just paid $3.6 million for a pre-owned wristwatch,  $9.2 million for a fancy blue diamond ring,  $84.6 million for a painting, and $795,000 for a rare bottle of whiskey.

  • Creators of contact-tracing apps face a fundamental dilemma: how to design a program that’s effective without compromising the privacy of those using it Link
    Businessweek Sun 20 Sep 2020 18:41
    global pandemic stretches into its ninth month and governments around the world seek to create contact-tracing apps, they’re grappling with a fundamental dilemma: how to design a program that’s effective without compromising the privacy of those using it. “Many people don’t trust these apps,” says Annelies Blom, a researcher at Germany’s University of Mannheim who has studied the willingness of people to install such technology. “They fear they will be traced somehow.”

  • The pandemic recession is leading Europe’s central bankers to join the fight against climate change—unlike their counterparts at the Federal Reserve Link
    Businessweek Sun 20 Sep 2020 18:11

    The pandemic could easily have derailed Christine Lagarde’s plan to enlist the European Central Bank in the fight against climate change. Only she won’t let it. “It’s a topic that I am very keen about, which I believe has a systemic dimension,” she told journalists after the ECB’s latest monetary policy meeting on Sept. 10.

  • Kansas City Southern railroad rejected a $23 billion buyout, even in the middle of a pandemic Link
    Businessweek Sun 20 Sep 2020 17:26

    After a flurry of consolidation in the 1990s, there are only seven major commercial railroads in North America. Of those, Kansas City Southern is the smallest and most digestible. A deal, if it were to happen, would be the first takeover of a major North American railroad since

  • Online MBA classes could be here to stay even after the coronavirus pandemic Link
    Businessweek Sun 20 Sep 2020 17:06

    While MBA students were generally disappointed with the shift to online learning, there are some features of virtual classes they liked—and want to see continued even after in-person instruction resumes, a Bloomberg Businessweek survey of MBA students shows.

  • RT @BloombergLive: At #BloombergEquality don't miss @DavidWestin's interview with @Delta CEO Ed Bastian. Tune in to their conversation at 7…
    Businessweek Sun 20 Sep 2020 16:26
  • Trump has forgotten how he got elected: more carrot, less stick Link
    Businessweek Sun 20 Sep 2020 16:06

    Donald Trump got elected in 2016 in no small part because he had the good sense to recognize a bad deal—and to offer voters a better one. One afternoon in May 2016, soon after knocking off 16 Republican challengers to cinch his party’s presidential nomination, Trump matter-of-factly explained how he’d done it. Sitting in his Trump Tower office beside a replica model of a Trump airliner, the future president described for me a confrontation he’d just had with soon-to-be-House Speaker Paul Ryan, a proud avatar of small-government conservatism.

  • Silicon Valley's elite have descended in droves on Lake Tahoe -- and it's drastically transformed the area in a matter of months. Link
    Businessweek Sun 20 Sep 2020 15:41

    The vibe is pre-Covid San Francisco: Airpods, electric scooters, coffee-shop coworking and cash offers for million-dollar homes.In fact, the scene is unfolding more than three hours to the northeast, on the shores of sparkling Lake Tahoe.

  • MBA students are starting to question the value of their $80,000/year degrees Link
    Businessweek Sun 20 Sep 2020 15:11

    Students felt the price tag of their programs—some more than $80,000 annually for tuition, fees, and other charges—wasn’t worth it, even after the changes required by the coronavirus pandemic, according to a survey of 3,532 MBA students at 95 graduate programs around the world. Bloomberg Businessweek conducted the study from May to early August.

  • This is the Carnival cruise ship that spread coronavirus around the world Link
    Businessweek Sun 20 Sep 2020 15:06

    At about 6 a.m. on March 19, William Wright, a retired Australian mortgage broker, woke up feeling a little off. He had a cough and his nose was running, though it didn’t seem too bad. In any case, there was no time to linger in bed. Wright and his wife, Lucia, had just docked in Sydney after a 10-day journey around New Zealand on the

  • Why did the stock market’s huge rally suddenly stall out on Sept. 2? If you know the answer, please tell us Link
    Businessweek Sun 20 Sep 2020 14:36

    It’s no surprise that professional traders—hardly paragons of rationality—would point to ordinary investors when things get weird. But it’s true that there seems to have been more driving the Covid-era bounce than rate cuts and government stimulus. The rise of commission-free trading, the ease of fractional share ownership, and maybe the gloomy-giddy feeling that there’s nothing better to do fueled a new public fascination with the stock market.

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