Marc Lore shares his secret sauce to startup success: hire rockstars with a proven track record, take bold risks, and avoid getting comfy with the status quo. He believes doing nothing is the riskiest move you can make. When it comes to leadership, Lore champions constant alignment with vision and values, because when the teamβs on the same page, they can run with it. So, take that experimental drug.
Full interview at the link below π
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Fortune's latest ranking celebrates the business leaders shaping industries and driving change globally. Here's what they looked at:
Who do you think deserves the top spot? And who is number 12? π
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Cybersecurity startup Halcyon hits a $1B valuation with a $100M Series C! Using AI to outsmart ransomware, Halcyon ensures no operations are disrupted β even with rising cyberattacks.
As ransomware continues to target companies and individuals, Halcyonβs approach might just be the new standard for security. What do you think β game-changer or just another player?
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Another Forbes star has fallen β Joanna Smith-Griffin, now 33, faces over 40 years in prison for faking her startupβs success. She claimed $3.7M revenue (it was $11K), cashed out, and spent it on a wedding and a house. Tough ROI.
Now the list has been expanded. Would you like us to tell interesting stories about the others on this list?
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Pony AI just hit the Nasdaq, starting strong at $15 per share and racing to a $5.25 billion valuation. The company raised $260 million in its IPO and could go up to $452 million with extras. It's the latest Chinese tech firm daring to drive into the U.S. market.
Now in California, besides American self-driving cars, there will also be Chinese ones. Curious to see how that goes.
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Italy has surged into the global top 3 for supercomputing power, thanks to cutting-edge machines like Leonardo and HPC6. These supercomputers are driving innovation in science and industry. Adding to the momentum, Microsoft recently announced a $5 billion investment in Italian data centers, solidifying the countryβs growing tech influence.
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Meta is embarking on its most ambitious infrastructure project yet: a $10B subsea cable spanning 40,000+ km to support its AI advancements and global data needs. Unlike prior ventures, this cable will be solely owned by Meta, ensuring reliable bandwidth for its platforms and avoiding geopolitical risks. Set to connect key regions like the U.S., India, and South Africa, the cable could also position India as a future hub for AI training.
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Starting November 2025, Australia will require social media platforms to verify usersβ ages to block access for those under 16. Platforms that fail to take βreasonable stepsβ could face fines of up to $32M. Lawmakers fast-tracked the decision, despite tech companies like Google and Meta pushing for delays until after an age-verification trial wraps up.
The good news? Age checks wonβt require sensitive data like passports. This bold move aims to protect kids' well-being β will the rest of the world follow suit?
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Did you know Meta's Facebook and Instagram are soaking up over two-thirds of the U.S. ad spend? With AI targeting and user data at their disposal, these platforms keep advertisers coming back for more. Meanwhile, TikTok is catching up, and X might need a new ad strategy if it wants to stay relevant.
Who knew ads could be this competitive?
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Did you know Meta's Facebook and Instagram are soaking up over two-thirds of the U.S. ad spend? With AI targeting and user data at their disposal, these platforms keep advertisers coming back for more. Meanwhile, TikTok is catching up, and X might need a new ad strategy if it wants to stay relevant.
Who knew ads could be this competitive?
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Elon Muskβs AI venture, xAI, is set to release a stand-alone app for its Grok chatbot, potentially rivaling OpenAIβs ChatGPT. After a major funding round, which could push its valuation to $50 billion, xAI is rapidly growing, with some early investors poised to cash in on the companyβs success.
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π The weight-loss drug market is booming
Morgan Stanley predicts a surge in the weight-loss drug market with new Ozempic and WeGovy alternatives hitting the shelves. Viral βbefore and afterβ posts and U.S. insurance coverage are slimming wallets faster than waistlines.
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Morgan Stanley predicts a surge in the weight-loss drug market with new Ozempic and WeGovy alternatives hitting the shelves. Viral βbefore and afterβ posts and U.S. insurance coverage are slimming wallets faster than waistlines.
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This was significantly below expectations of 725,000. New home sales declined by a whopping 17.3% month-over-month, marking the largest decline in 13 years.
At the same time, the median new home price jumped 4.7% year-over-year to $437,300, the highest since August 2023.
Meanwhile, the average interest rate on a 30-year mortgage hit 7.03% this month, the highest since July. The US housing market freezing.
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Omri Casppi, a well-known investor, has launched a $60 million fund to invest in cybersecurity, cloud computing, and artificial intelligence (AI) startups. The fund, named after Casppi, will focus on early-stage companies that are developing innovative technologies in these rapidly growing sectors.
As an experienced investor, Casppi has a strong track record of identifying and supporting promising startups, and his new fund aims to capitalize on the increasing demand for advanced solutions in the areas of cybersecurity, cloud infrastructure, and AI-driven applications. The fund's launch is seen as a positive development for the startup ecosystem, as it will provide much-needed capital and guidance to entrepreneurs working on cutting-edge technologies that have the potential to transform various industries.
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A report indicates that a record number of chief executive officers have resigned from their positions in 2022. Contributing factors to this trend include the difficult economic climate, the ongoing pandemic, and heightened scrutiny and demands on corporate leaders.
Additionally, some CEOs may be stepping down to explore new opportunities or to spend more time with their families. This wave of executive turnover could significantly impact the companies involved as they adjust to new leadership.
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Kpay is a platform that helps SMEs manage their finances more effectively, including features like invoicing, payments, and cash flow management. The funding will be used to expand Kpay's services and reach, as the company aims to become a comprehensive financial management solution for SMEs.
There is growing demand for such platforms as SMEs seek to streamline their financial operations and gain better visibility into their financial health. The investment from APIS Partners, a leading fintech-focused venture capital firm, is seen as a validation of Kpay's potential to address the financial challenges faced by SMEs.
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BlackRock, the world's largest asset manager, has agreed to acquire HPS Investment Partners, a leading private credit firm, in a $12 billion deal. This acquisition is part of BlackRock's strategy to expand its presence in the fast-growing and lucrative alternative assets market, which includes private credit, infrastructure, and private markets.
The deal will significantly boost BlackRock's alternative assets under management, which are expected to reach nearly $600 billion. This move puts BlackRock in direct competition with other major alternative asset managers, such as KKR, Blackstone, and Apollo. The acquisition is seen as a strategic move by BlackRock CEO Larry Fink to diversify the company's business beyond traditional equities and bonds and capitalize on the growing demand for higher-yielding alternative investments from institutional investors like insurers and pension funds.
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