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The SEC alleges that Oracle used a slush fund to bribe officials in India, Turkey and the United Arab Emirates.
This behavior is sadly common among software companies doing business overseas, and it’s not unique to Oracle. In March, a former Microsoft executive claimed the company spent as much as $200 million a year in bribes for foreign officials.
Alex Mashinsky, the head of the bankrupt crypto lending firm Celsius, announced his resignation today, but not after patting himself on the back for working “tirelessly to help the company.”
In Mashinsky’s eyes, I guess that means designing “Unbankrupt yourself” t-shirts on Cafepress and then selling them to a user base that just had their funds vaporized.
At least customers of the embattled Voyager Digital crypto firm are in slightly better shape, as the Sam Bankman-Fried-owned FTX just bought out the company’s assets.
LiveWire has completed its merger with a blank-check company and will make its debut on the New York Stock Exchange today. Harley-Davison CEO Jochen Zeitz called it “a proud and exciting milestone for LiveWire towards its ambition to become the most desirable electric motorcycle brand in the world.” Hopefully it also manages to avoid the cash crunch of other EV SPACs, like Canoo, Arrival, Faraday Future, and Lordstown.
That’s Ryan Morrison, CEO of Evolved Talent Agency, which represents some of the biggest streamers around. And he’s right — as you can read in this investigation from my colleague Ash Parrish, who looked into just what’s going on with Amazon’s livestreaming service.
NASA’s spacecraft crashed, and everyone is very happy about it.
Otherwise, Mitchell Clark is kicking off the day with a deeper look at Dish Network’s definitely-real 5G wireless service , and Walmart’s metaverse vision in Roblox is not looking good at all.
Forbes reports that rising inflation and falling stock prices have collectively cost members of the Forbes 400 US rich list $500 billion in 2022 with tech tycoons suffering the biggest losses.
Jeff Bezos (worth $151 billion) lost $50 billion, Google’s Larry Page and Sergey Brin (worth a collective $182b) lost almost $60b, Mark Zuckerberg (worth $57.7b) lost $76.8b, and Twitter co-founder Jack Dorsey (worth $4.5b) lost $10.4b. Former Microsoft CEO Steve Ballmer (worth $83b) lost $13.5b while his ex-boss Bill Gates (worth $106b) lost $28b, albeit $20b of that via charity donations.
The Double Asteroid Redirection Test (DART) scored a hit on the asteroid Dimorphos, but as Mary Beth Griggs explains, the real science work is just beginning.
Now planetary scientists will wait to see how the impact changed the asteroid’s orbit, and to download pictures from DART’s LICIACube satellite which had a front-row seat to the crash.