What comes after the easy money era ends for cash-burning tech companies in Silicon Valley

Male in a suit holding burning cash and bank card. isolated on grey background. FXQuadro | iStock | Getty Images It started with word spreading through Silicon Valley last fall into winter about the term sheets for start-up funding getting pulled. Now, a less frothy Silicon Valley is the assumption in beginning to understand the outlook in a world of rising interest rates and declining market liquidity, and investors who are no longer willing to fund profitless futures indefinitely.  But how exactly will the venture world of the past decade…

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‘Pharma bro’ Martin Shkreli released from federal prison and into New York halfway house

Former pharmaceutical executive Martin Shkreli departs the U.S. District Court for the Eastern District of New York, August 3, 2017 in the Brooklyn borough of New York City. Getty Images Notorious “Pharma bro” fraudster Martin Shkreli was released from a federal prison in Pennsylvania on Wednesday and into a U.S. Bureau of Prisons halfway house at an undisclosed location in New York to complete the rest of his criminal sentence, his lawyer said. In a throwback to the days when Shkreli was one of the most prominent trolls on Twitter,…

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Here’s what Walmart, Target, Home Depot and Lowe’s tell us about the state of the American consumer

Compilation of Target, Walmart, Lowe’s and Home Depot stores. Reuters How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its more price-sensitive customers are beginning to trade down to private-label brands, while Home Depot emphasized the resiliency among its customer base, a sizable percentage of…

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Why Tesla was kicked out of the S&P 500’s ESG index

An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. Justin Sullivan | Getty Images The S&P 500 booted electric vehicle maker Tesla from its ESG Index in an annual rebalancing. Meanwhile Apple, Microsoft, Amazon and even oil and gas multi-national Exxon Mobil were included on the list. The S&P 500 ESG Index uses environmental, social and governance data to rank and effectively recommend companies to investors. Its criteria include hundreds of data points per company that pertain to the way businesses affect the planet…

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Joyn Bio aims to solve the world’s fertilizer problem with microbes

Plants at the Joyn Bio greenhouse in Woodland, Calif. Photo courtesy Joyn Bio Nitrogen fertilizer is crucial to growing crops and feeding the global population. But it’s expensive, in critically short supply, and is a contributor to climate change because the process to make it releases greenhouse gases. It’s a thorny problem, but microbes may be able to help solve it. That’s the thesis of Mike Miille and the team at Joyn Bio, a start-up launched in October 2017 as a joint partnership between the synthetic biology company Ginkgo Bioworks…

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Former Disney CEO Bob Iger invests in $15 billion delivery start-up Gopuff

A bag of groceries with the logo of American on-demand delivery start-up Gopuff. Gopuff Delivery start-up Gopuff announced Wednesday that it’s bringing on former Disney CEO Bob Iger as an investor and advisor to the $15 billion company. “It’s been exciting to spend time with Gopuff leadership learning about the company, the founders, and their aspirations,” Iger stated in a press release on the investment. “I am excited to advise, mentor, and support the executive team as they continue building a company uniquely designed for how consumers are changing and…

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