Climate startup Aspiration, which boasted a roster of celebrity backers and arranged carbon credits for Meta Platforms, Microsoft and other large companies, filed bankruptcy weeks after its co-founder was arrested on fraud charges. From a report: CTN Holdings, as the company is now known, has about $170 million in debt. The goal of the bankruptcy is to sell its assets as quickly as possible in order to repay creditors, chief restructuring officer Miles Staglik said in a court filing. The pool of potential bidders is small and the nature of the CTN's ventures will likely require more cash and "long term horizons before any potential value could be realized for creditors," Staglik said.
The bankruptcy was filed after co-founder Joseph Sanberg was charged by federal prosecutors with conspiring to defraud two investor funds of at least $145 million, according to a US Department of Justice announcement earlier this month. The charges involve his personal conduct and don't implicate CTN or its affiliates "in any criminal activity," said Staglik, a managing director at CR3 Partners that's been hired as CTN's restructuring adviser.
Aux États-Unis comme partout dans le monde, les femmes auraient tendance à davantage épouser des hommes de moins en moins diplômés. Ce phénomène a un nom : l’hypogamie.
According to Bloomberg, India is set for a surge in tech startup IPOs valued at around $100 billion by 2027, with major players like Flipkart, PhonePe, and Oyo preparing to go public. From a report: A report from Indian investment bank The Rainmaker Group suggests that the new wave of IPO hopefuls is in a stronger financial position than their predecessors. Many of the startups that were listed during the 2021-2022 boom struggled post-IPO, with fintech firm Paytm losing roughly 63% of its value and beauty retailer Nykaa slipping 4% since going public.
"The financial health of companies set to list in the next two years is significantly better than those that went public earlier," said Kashyap Chanchani, managing partner at Rainmaker. He noted that two-thirds of the firms eyeing IPOs are already profitable and have improved transparency, making them more attractive to investors.
Though it's stock price is still up 200% from its IPO in March of 2024
— last week Reddit's stock had dropped nearly 50% since February 7th.
And then this week, it dropped another 10%, reports Bloomberg, citing both the phenomenon of "volatile technology stocks under pressure" — but also specifically "the gloomy sentiment around Reddit..."
The social media platform has struggled to recover since an earnings report in February showed that it is failing to keep up with larger digital advertising peers such as Meta Platforms Inc. and Alphabet Inc.'s Google, which have higher user figures. Reddit's outlook seemed precarious because its U.S. traffic took a hit from a change in Google's search algorithm.
In recent weeks, the short interest in Reddit — a proxy for the volume of bets against the company — has ticked up, and forecasts for the company's share price have fallen. One analyst opened coverage of Reddit this month with a recommendation that investors sell the shares, in part due to the company's heavy reliance on Google. Reddit shares fell more than 5% in intraday trading Friday. "It's been super overvalued," Bob Lang, founder and chief options analyst at Explosive Options said of Reddit. "Their growth rate is very strong, but they still are not making any money." Reddit had a GAAP earnings per share loss of $3.33 in 2024, but reported two consecutive quarters of positive GAAP EPS in the second half of the year...
At its February peak, Reddit's stock had risen over 500% from the $34 initial public offering price last March. Some of the enthusiasm was due to a series of deals in which Reddit was paid to allow its content to be used for training artificial intelligence models. More recently, though, there have been questions about the long-term growth prospects for the artificial intelligence industry.
"On Wall Street, the average price target from analysts has fallen to about $195 from $207 a month ago," the article points out. "That still offers a roughly $85 upside from where shares closed following Thursday's 8% slump..."
Meanwhile Reuters reported that more than 33,000 U.S. Reddit users experienced disruptions on Thursday according to Downdetector.com. "A Reddit spokesperson said the outage was due to a bug in a recent update, which has now been fixed."
À peine quelques jours après la sortie de son dernier AAA, Ubisoft a annoncé une transformation profonde. En effet, il va créer une filiale regroupant les trois licences phares du groupe : Assassin’s Creed, Far Cry et Rainbow Six. Mais il ne le fait pas tout seul, puisqu’il s’appuie sur les 1,16 milliard d’euros de Tencent, qui prend 25 % de cette nouvelle branche. Au passage, la famille Guillemot lui cède 49,9 % de Guillemot Brothers, la holding qui possède des parts dans la société Ubisoft, ce qui permet à la fratrie bretonne de se renflouer, tout en gardant son pouvoir décisionnel. C’est un peu compliqué, mais Oscar Lemaire, journaliste spécialisé dans les chiffres de l’industrie vidéoludique, a partagé un petit schéma sur Bluesky :
Crédit : Oscar Lemaire
Bon, même comme ça, ce n’est pas évident. Si vous voulez un peu plus d’infos, vous pouvez aussi consulter son thread complet sur le sujet, toujours sur Bluesky. De leur côté, nos confrères de GamesIndustry.biz indiquent que seuls les studios de Montréal, Québec, Sherbrooke, Saguenay, Barcelone et Sofia feront partie de la nouvelle entité. Les quarante-huit autres resteront sous la responsabilité directe d’Ubisoft et n’ont donc pas été jugés aussi bankables. Les implications de cette grosse restructuration sont encore floues et il faudra attendre un peu avant de voir les retombées sur les projets et la masse salariale. Pour rappel, Ubisoft employait 18 666 personnes en décembre 2024 selon Le Monde, ce qui le classe derrière Xbox Games Studio, mais devant Electronic Arts.
Du côté des licences qui nous intéressent, on peut supposer que les prochains Far Cry 7 (solo) et Far CryMaverick (extraction-shooter) vont pouvoir bénéficier d’encore plus de moyens. On croise les doigts pour que cette montagne de pognon soit utilisée pour créer de nouveaux concepts intéressants, et pas dans 10 000 nouvelles touches Ctrl, C et V demandées par les anciens directeurs de projet. Cette annonce affirme également la volonté du géant sino-breton de continuer à développer Rainbow Six: Siege, mais pas forcément dans le sens que l’on souhaiterait. C’est actuellement sans doute la licence la plus rentable des trois, il faudra peut-être s’attendre à découvrir de nouvelles méthodes inédites pour traire les joueurs.
En conclusion, malgré le gros changement dans l’organisation, la famille Guillemot reste aux commandes pour le meilleur et pour le pire, tout en récupérant un bon petit pactole de son sugar daddy Tencent. Mais on ne peut pas s’empêcher de penser qu’un jour ou l’autre, ce dernier finira bien par la niquer.
An anonymous reader shares a report: For decades, India's economic promise has rested on its demographic dividend -- the competitive edge of a massive, young, and increasingly educated workforce. Economists and policymakers have routinely cited the country's population profile as its ticket to economic superpower status, with projections of reaching $10 trillion in GDP and achieving high-income status by 2047. These forecasts depend heavily on a critical assumption: that roughly 500 million Indians currently aged 5-24 will find productive employment as they enter the workforce over the next two decades. But a sobering new analysis from Bernstein suggests this fundamental premise may be crumbling under the weight of rapid advances in AI.
"The advent of AI threatens to erode all the advantages of India's rich demographic dividend," write Bernstein analysts Venugopal Garre and Nikhil Arela, who characterize their assessment as a potential "doomsday scenario" for a nation that has hitched its economic wagon to services-led growth. At stake is India's $350 billion services export sector -- a sprawling ecosystem of IT outsourcing, business process management, and offshore knowledge centers that employs over 10 million workers, mostly in jobs that place them in the top 25% of the country's income distribution.
While India's IT giants have successfully navigated previous technological shifts -- from basic call centers in the late 1980s to cloud computing and data analytics more recently -- AI poses a fundamentally different challenge. Unlike earlier transitions that required human adaptation, today's AI systems threaten to replace rather than complement the workforce. "AI subscriptions that come at a fraction of the costs of India's entry level engineers can be deployed to perform tasks at higher precision and speed," the report note.
Ubisoft is launching a new subsidiary focused on Assassin's Creed, Far Cry, and Rainbow Six, backed by a 1.16 billion-euro investment from Tencent. "The as-yet-unnamed subsidiary will fold in the teams working on those three series, including Ubisoft studios in Montreal, Quebec, Sherbrooke, Saguenay, Barcelona and Sofia," reports Engadget. From the report: This new business will receive an investment of 1.16 billion-euro (roughly $1.25 billion) from its longstanding partner Tencent, granting the conglomerate a minority ownership stake. Following the transaction, Ubisoft will narrow focus to its other franchises, such as The Division and Tom Clancy's Ghost Recon. [...] There is some extra good news in the announcement. The description of the new subsidiary does specify that "it will drive further increases in quality of narrative solo experiences." So while we can expect to also see multiplayer and free-to-play offerings from the Ubisoft umbrella, they aren't giving up on single-player games. "Today Ubisoft is opening a new chapter in its history," CEO and Co-Founder Yves Guillemot said. "As we accelerate the company's transformation, this is a foundational step in changing Ubisoft's operating model that will enable us to be both agile and ambitious."
VMware has sued industrial giant AG Siemens's US operations for alleged use of unlicensed software and accused it of changing its story negotiations. From a report: The case was filed last Friday in the US District Court for the District Delaware. VMware's complaint [PDF] alleges that Siemens AG's US operations used more VMware software that it had licensed. Siemens's use of VMware became contentious when it tried to arrange extended support for some products.
On September 9, 2024, Siemens apparently produced a list of the VMware software it used and "demanded that VMware accept a purchase order to provide maintenance and support services for the listed products." The complaint states that list mentioned VMware deployments that "far exceeded the number of licenses it [Siemens] had actually purchased."
Computer maker Dell's staff numbers have fallen by 25,000 in the last two years. In its latest 10-K filing, published on Tuesday, the company said that it had about 108,000 global employees as of January 31, 2025. In February 2024, that number was 120,000, marking a 10% annual reduction in the workforce. From a report: Looking back two years, Dell's head count stood at 133,000, meaning that since February 2023, the Texas-based tech company has reduced its workforce by 19%. The decline in Dell's head count comes after a year of both layoffs and RTO mandates. In August, the company significantly restructured its sales division, which it told workers was necessary to prepare for "the world of AI." As part of the restructuring, Dell laid off workers, though it did not specify how many.
Here's one more reason to cling to a steady job: It doesn't pay to quit. From a report: Typically workers who snag a new position see higher pay bumps than those holding down the same job. But in February, median wage growth of 4.4% for job stayers surpassed a 4.2% gain for job switchers, according to data from the Federal Reserve Bank of Atlanta. The change, as measured by a three-month moving average, is yet another sign of a softening labor market. White collar workers have been clinging to their jobs in the face of widespread layoffs and workplace reductions. Last month, employers announced the fastest pace of job cuts since 2020, when factoring in government job losses. And now an oversupply of job seekers means workers are having to settle for smaller pay bumps, said Peter Cappelli, a professor of management at The Wharton School of the University of Pennsylvania.
"That certainly sounds like a big slackening of the job market," Cappelli said. It's a major reversal from the "Great Resignation" a few years ago, when workers left their jobs at unprecedented rates, demanding more benefits and higher pay from employers. At a peak in July 2022, workers who got new jobs saw their wages grow by a whopping 8.5% compared to 5.9% for those who stayed loyal to their company, Atlanta Fed data show.
A software engineer discovered that his newly purchased Bosch 500 series dishwasher locks basic functionality behind cloud connectivity, reigniting concerns about internet-dependent home appliances. Jeff Geerling found that features like rinse cycle, delayed start and eco mode on his $1,000 dishwasher require connecting to WiFi and creating an account with "Home Connect," Bosch's cloud service.
Geerling criticized the approach as potentially part of planned obsolescence, noting that without a current subscription fee, the company will likely either shutter the service or introduce payments for previously standard features.
An anonymous reader shares a report: The UK's Consumer Markets Authority (CMA) has provided an update into its investigation of Ticketmaster after the sale of Oasis reunion tour tickets resulted in grossly inflated ticket prices and numerous consumer complaints. The CMA said that the results of the investigation warranted, "consulting with the ticketing platform on changes to ensure fans receive the right information, at the right time."
Of concern to the CMA was Ticketmaster's labeling and information practices. In its update, the CMA stated that Ticketmaster designated certain tickets as "platinum," selling them at more than twice the standard price without adequately informing consumers that the increased price did not correspond to better seats or other perks. The CMA also took issue with Ticketmaster's handling of standing room tickets. It explained that the company sold off a cheaper category of standing ticket first then surprised buyers waiting in extensive online queues with a more expensive ticket.
An anonymous reader quotes a report from Reuters: German software company SAP overtook Danish healthcare company Novo Nordisk as Europe's largest company by market capitalization on Monday. At 0900 GMT, SAP had a market cap of $340 billion, slightly more than Novo Nordisk, according to Reuters calculations using LSEG Workspace data. SAP is Europe's largest software maker, providing business application software used by companies for finance, sales, supply chain and other functions.
Its shares have surged in recent years, in part due to optimism that its cloud business will be a major beneficiary of recent investment in generative artificial intelligence. While SAP shares are up 7% so far in 2025, underperforming the broader European STOXX 600 index, which is up 8.3% year-to-date, they have clocked a total return of 160% since the end of 2022, far outperforming the STOXX 600's 28%. In contrast, Novo Nordisk shares have underperformed the market in recent months after data from trials of its experimental next-generation obesity drug Cagrisema disappointed investors.
Samsung Electronics vice chairman and co-CEO, Han Jong-hee, passed away from a heart attack on Tuesday at the age of 63. The Korea Herald reports: Since joining Samsung Electronics, Han held several key positions, including head of the LCD TV Lab. In 2021, he was appointed vice chairman and co-CEO, taking charge of the company's Device eXperience or DX division, which oversees its electronics and consumer device businesses. Developing...
DNA-testing company 23andMe has filed for Chapter 11 bankruptcy protection [non-paywalled source] in Missouri and announced CEO Anne Wojcicki's immediate resignation, weeks after rejecting her proposal to buy back the business she co-founded. The bankruptcy filing represents "the best path forward to maximize the value of the business," said Mark Jensen, board member and special committee chair.
Further reading: DNA of 15 Million People for Sale in 23andMe Bankruptcy.
Amazon CEO Andy Jassy is pushing to cut bureaucracy by reducing management layers, according to a recording of a recent internal all-hands meeting obtained by Business Insider. Amazon plans to increase the ratio of individual contributors to managers by 15% by March-end, a process the company says is now complete and affected a "relatively small subset of employees."
"The way to get ahead at Amazon is not to go accumulate a giant team and fiefdom," Jassy told employees, stressing that successful leaders "get the most done with the least amount of resources." Jassy has established a "No Bureaucracy" email alias that has received over a thousand suggestions, leading to more than 375 changes aimed at speeding operations. "It's a meritocracy," Jassy said, urging employees to "move fast and act like owners."
VERTIGE DE L’ALCOOL 1/4 - À une époque où nous nous questionnons de plus en plus sur notre rapport à l’alcool, nous avons recueilli les témoignages de femmes qui ont fait le choix d’assumer, de ruser, ou de lever le pied.
HR software startup Rippling has sued competitor Deel, alleging that Deel orchestrated corporate espionage by recruiting an employee within Rippling to steal trade secrets, including customer data, sales strategies, and internal records. The lawsuit (PDF) claims the spy shared confidential information with Deel executives and a reporter, leading to legal action under the Racketeer Influenced and Corrupt Organizations (RICO) Act. Deel denies wrongdoing and plans to counter the claims. CNBC reports: The two startups are among the most world's most valuable. Investors valued Rippling at $13.5 billion in a funding round announced last year, while Deel told media outlets in 2023 that it was worth $12 billion. Deel ranked No. 28 on CNBC's 2024 Disruptor 50 list. "Weeks after Rippling is accused of violating sanctions law in Russia and seeding falsehoods about Deel, Rippling is trying to shift the narrative with these sensationalized claims," a Deel spokesperson told CNBC in an email. "We deny all legal wrongdoing and look forward to asserting our counterclaims."
Rippling confirmed its findings earlier this month. The company's general counsel sent a letter to three Deel executives that referred to a new Slack channel, and the Deel spy quickly looked for it. Rippling subsequently served a court order to the spy at its office in Dublin, Ireland requiring him to preserve information on his mobile phone. "Deel's spy lied to the court-appointed solicitor about the location of his phone, and then locked himself in a bathroom -- seemingly in order to delete evidence from his phone -- all while the independent solicitor repeatedly warned him not to delete materials from his device and that his non-compliance was breaching a court order with penal endorsement," Rippling said in Monday's filing. "The spy responded: 'I'm willing to take that risk.' He then fled the premises." "We always prefer to win by building the best products and we don't turn to the legal system lightly," Parker Conrad, Rippling's co-founder and CEO, said in a Monday X post. "But we are taking this extraordinary step to send a clear message that this type of misconduct has no place in our industry."
Google's parent company Alphabet is reportedly in talks to acquire cybersecurity startup Wiz for approximately $30 billion. Last July, negotiations had advanced on a $23 billion deal, but the talks were put on hold to prioritize Wiz's IPO. Around the same time, Alphabet also walked away from a potential acquisition of online marketing software company HubSpot. Reuters reports: The startup provides cloud-based cybersecurity solutions powered by artificial intelligence that help companies identify and remove critical risks on cloud platforms. A buyout of this size will most likely face regulatory scrutiny as tech giants are kept under close watch for possible monopolistic practices.
If the deal goes through, it could help Alphabet tap into the cybersecurity industry and expand its booming cloud infrastructure segment, which generated more than $43 billion in revenue last year. Wiz was last valued at $12 billion in a private funding round in May 2024.
Abstract of a paper published on National Bureau of Economic Research: This paper investigates self-reported wedges between how much people work and how much they want to work, at their current wage. More than two-thirds of full-time workers in German survey data are overworked -- actual hours exceed desired hours. We combine this evidence with a simple model of labor supply to assess the welfare consequences of tighter weekly hours limits via willingness-to-pay calculations. According to counterfactuals, the optimal length of the workweek in Germany is 37 hours. Introducing such a cap would raise welfare by .8-1.6% of GDP. The gains from a shortened workweek are largest for workers who are married, female, white collar, middle aged, and high income. An extended analysis integrates a non-constant wage-hours relationship, falling capital returns, and a shrinking tax base.
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