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The AI boom has echoes of Enron — but that might be okay, a tech guru says
Today’s tech titans are using similar financial tactics to Enron, but that doesn’t mean they’re careening toward disaster, one AI guru says. Enron, an energy supplier and trading powerhouse, collapsed into bankruptcy in 2001 after it was revealed to be a fraud. But it was also a story of three…
How savvy real estate investors are using HELOCs to buy rental properties and build wealth
Mark didn’t have a six-figure salary when he started investing in real estate. The Florida-based former police officer, who prefers not to share his last name for privacy reasons, said he never earned more than $52,000 a year. Still, he built a 25-unit real-estate portfolio in less than five years…
The skill BCG’s North America boss thinks matters more in the AI era
At Boston Consulting Group, consultants of the future might look a lot like those of the past: generalists with business acumen. The difference, said BCG veteran Mel Wolfgang, is that the firm increasingly sees its consultants developing some of the technical capabilities once concentrated among…
An employee-run, multi-day backpacking trip has become a hot ticket at McKinsey
Alex Harman was on the last stretch of his trek to the top of Mount Kilimanjaro in Tanzania when he stopped on a steep part of the mountain. He had gone to bed at 3 p.m. the day before and set his alarm for midnight to start hiking early. Now the sun was coming up,
Waymo is eating into the ride-hailing market in some cities. The fallout for human drivers stays fuzzy.
Alphabet’s Waymo is taking a bite out of ride-hailing in its most mature markets, third-party data showed. And that share is large enough that its effects on human drivers could be detectable, Gad Allon, a Wharton professor who studies the gig economy, said. Just don’t expect it to look like a…
Harvard reveals $2.2B SpaceX stake after Elon Musk company IPO
Harvard University’s investment arm disclosed a $2.2 billion stake in SpaceX, revealing a massive payoff from an early investment in Elon Musk’s rocket company following its blockbuster public debut. Harvard Management Company reported the position in a regulatory filing Friday, making SpaceX the…
How Ferrero Is Winning Over America
We went behind the scenes to see how Ferrero, an Italian company is building a confectionery empire in the US, from spending billions on buying iconic American brands, to investing in new factories and an R&D lab, and even creating a new Nutella flavor specifically for Americans. Read the full…
What investors say went wrong at Selena Gomez’s mental health startup Wondermind
Selena Gomez set out to create “the world’s first mental fitness ecosystem.” Instead, the startup is becoming her own personal headache. A federal lawsuit filed Thursday offers a detailed account of what investors say went wrong at Wondermind — from an app that was never built to major corporate…
Taco Bell’s former boss says McDonald’s is making a mistake with its new Red Bull drink
The former CEO of Taco Bell says McDonald’s new drink menu lacks originality. Greg Creed, who served as Taco Bell’s chief marketing officer when the chain introduced the popular “Baja Blast” drink over 20 years ago, shared some feedback this week on McDonald’s new menu of “refresher” drinks. “Any…
Anthropic says its AI agents are killing rivals and hiding their tracks
Claude agents are killing rival agents, gaming the system to hide their tracks, and expressing moral concerns. That’s according to Anthropic’s latest risk report, a summary of the dangers posed by the products the company is building and releasing to the public. In the report, Anthropic said it has…