What to know about Robert F. Smith, the man paying off Morehouse grads’ student loans

(CNN)Robert F. Smith lifted a huge burden off the graduating class of Morehouse College when he announced during his commencement speech that he would pay off the student loan debt of more than 300 students. Smith is the richest black person in the United States, with a net worth of $5 billion, according to Forbes. Yes, he’s richer than Oprah. He’s the founder of the investment firm Vista Equity, which boasts capital commitments of $46 billion, according to its website. In 2019, Smith was #355 on the Forbes Billionaires List. Smith is the son of educators who started his career as a chemical engineer for Goodyear and Kraft. He attended business school at Columbia University and went on to make …

Nearing the endgame: is Hollywood’s lust for sequels destroying cinema?

Franchises thrill fans and enrich studios. But in a fast-changing world, familiar comforts may be more harmful than we think Coming not so shortly: a new helping of either Star Wars or Avatar for every Christmas between 2021 and 2027. Disneys and even Rambo. Never before have film sequels been so many and so varied. They are nothing new, of course. The first specimen, followed the infamous 1915 Avengers: Endgame, was $220m for fastest ever film to make $2bn, and has outstripped the lifetime take of the series original by more than $six are now sequels all released in the last four years. New movies, old parts Toy Story. Photograph: Sportsphoto Ltd/Allstar More important than the scale of these earnings …

We Launched a Paywall. It Worked! Mostly.

A little over a year ago, we introduced a paywall at WIRED. The idea, as I wrote back then, was largely about us. To start, we wanted to give ourselves stronger structural incentives to do great reporting. When your business depends on subscriptions, your economic success depends on publishing stuff your readers love—not just stuff they click. It’s good to align one’s economic and editorial imperatives! And by so doing, we knew we’d be guaranteeing writers, editors, and designers that no one would be asked to create clickbait crap of the kind all digital reporters dread. (Though, admittedly, we do publish some of that still.) But the idea was also broader. At WIRED we genuinely believe that journalism as a …

Feds Rule That One Companys Gig Workers Are Contractors

It's a question that cuts to the heart of the way tech giants like Uber and Lyft do business: Are gig-economy workers really just contractors, or should they be classified and compensated as employees? On Monday, the US Department of Labor hinted at an answer, writing in a letter to one gig-economy company that its workers are, in fact, independent contractors. The letter came in response to an inquiry by a single, unnamed company that sought the department's advice on whether its workers could fairly be considered contractors under the law. In 2015, the Obama administration issued broad guidance on this issue, suggesting that workers who are economically dependent on a business should be considered employees. But the Trump administration …

Facebook Wants to Connect You With Your ‘Secret Crush’

Facebook is channeling its earliest days as a hot-or-not website for college students with a new feature called Secret Crush. To be announced today at the social network’s annual F8 developer conference, Secret Crush will allow Facebook Dating users to select up to nine friends they want to express interest in. Think of it like matching on Tinder or Bumble, except you get to hand-pick the specific friends you want to date ahead of time, instead of hoping their profiles show up in the queue. What could go wrong? Here’s how it’s supposed to work. If someone adds you to their Secret Crush list, Facebook will send you a notification saying “A friend added you as a secret crush.” If …

Ending the Iranian sanctions waiver could be own goal for Trump

Preventing Irans oil from reaching the market will raise oil prices and US business costs The past two and a bit years have shown that it is naive to expect Donald Trumps strategic and economic policies to demonstrate coherence. Even so, the lack of joined-up thinking in the decision to end the those responsible for the attack also dealt a heavy blow to a Sri Lankan economy that is highly vulnerable to a collapse in the number of overseas visitors. Since the end of the civil war a decade ago, the number of people attracted by Sri Lankas mix of beaches, culture and wildlife has increased sixfold. Tourism accounts for a hefty 11% of national output. The number of visitors …

I Promise Not to Roll My Eyes at Your TED Talk

Rolling your eyes is not allowed at TED. There’s no rule in the conduct policy (I assume, I haven’t actually checked); it’s just one of those powerful unspoken maxims that goes ignored at your peril. When they hand you your TED badge, you’re consenting to check your cynicism at the door. The TED Conference, which has taken place annually since 1990, was founded on the principle that spreading ideas from passionate people can change the world. This year's theme is “Bigger Than Us,” which is meant as an acknowledgement of the lasting effects this era will have on the planet and the future of humanity, according to Chris Anderson, head of TED. Experts and enthusiasts will be talking about everything …

Carlos Ghosn joins Twitter and vows to ‘tell the truth’

Hong Kong (CNN Business)Carlos Ghosn has joined Twitter and promised to unveil “the truth” behind his stunning downfall. Ghosn was released from prison on bail of 1 billion yen ($9 million) last month, after spending more than three months in a Japanese jail cell. The auto executive is awaiting trial on charges he understated his income and abused his position by transferring personal investment losses to Nissan. Ghosn, who is not permitted to leave Japan, denies all the charges. If found guilty, he could face as many as 15 years in prison. The conditions of Ghosn’s bail include monitoring by surveillance cameras and restrictions on his use of computers. Ghosn’s spokesman said the Twitter account complies with his bail conditions. …

UK should leave EU with no deal, says former Bank of England governor

Mervyn King says Britain could ease dislocation costs with six months of planning The former governor of the Bank of England, issued repeat warnings that leaving the EU without a deal would cause significant economic damage and would damage living standards across the country. The Bank published a worst-case scenario last year that included Britain plunging into an Philip Hammond, the chancellor, not to accelerate spending to prepare the country for such a scenario had been disastrous and had cost the UKs bargaining power in talks with Brussels. Original Article : HERE ; This post was curated & posted using : RealSpecific

The Mosque Shooter Exploited the Power of the Internet

After each new horrific mass shooting, an all-too-familiar cycle often plays out: Reporters (myself included) race to attempt to unpack an alleged shooter’s possible motivations by piecing together clues from their social media accounts and online postings before it all gets scrubbed from the internet. We do this in the hopes that it will somehow provide a window into their mindset in the months leading up to the attack, or at least bring us somewhat closer to answering that ultimately unanswerable question: Why? But this approach carries with it potentially dangerous unintended consequences. At least 49 people were killed on Friday during attacks on two mosques in Christchurch, New Zealand, and like clockwork the cycle began almost immediately. But this …

Mary Barra’s impatience could save GM: ‘Time is not our friend’

Mary Barra, the boss of General Motors, didn’t win friends in Washington when she announced the company would shut down four US plants and lay off thousands of employees. The move seemed heartless, especially since GM had just said it could take in record profits, a decade after its bankruptcy had been funded by taxpayers. “Having gone through bankruptcy and then the ignition switch crisis has fundamentally made me more impatient,” Barra told CNN Business. “Time is not our friend.” She doesn’t over analyze and wait for every data point before acting, realizing that a great thought not acted on is as good as not thinking at all. “If we get 80% of what we need to know we’re probably …

Ted Baker CEO Ray Kelvin quits after allegations of ‘forced hugging’

Hong Kong (CNN Business)Ted Baker’s founder and CEO has resigned as the fashion brand investigates allegations he behaved inappropriately toward staff. “In light of the allegations made against him, Ray has decided that it is in the best interests of the company for him to resign so that the business can move forward under new leadership,” Executive Chairman David Bernstein said in the statement. Kelvin wasn’t immediately available for comment on Monday. Ted Baker said Lindsay Page would continue in his role as acting CEO, which he has held since Kelvin first went on leave. Hugs Kelvin founded the high-end fashion chain in 1988 with a single store in the UK city of Glasgow. It now has more than 500 …

Turn Traffic into SALES (with Smart Chat Automation) use 3D Chat Agents

A new shift is happening and you must get on this “new” trend now before your competitors! You can now leverage the latest advancements in “3D Animation” and “Artificial Intelligence” to 10x your leads, sales and results! A new groundbreaking called “ChatterPal” comes loaded with industry-leading features like: UNLIMITED smart chat automation, talking 3D avatars, text-to-speech, instant-lip sync, one-click translation, logo mapping, done-for-you chat templates, intelligent list building engine and a lot more! … to deliver REAL results like no other app can! Check out a “reveal-all” demo of this NEW technology here…   Nothing like this available at the market for any price!   With ChatterPal you can…   – Boost conversions, sales and results on any website. – …

Walmart made changes to greeter jobs at stores. Workers with disabilities got squeezed

New York (CNN Business)Walmart is making changes to policies for its store greeters with disabilities after some of those workers said their jobs were in jeopardy. Greeters at the entrance of stores have been a staple of Walmart since the early 1980s, when founder Sam Walton created the job based on a Louisiana store worker’s suggestion. “Greeters are a big part of our company and culture,” Walmart said in 2016. “Providing customers with an excellent first impression is part of Walmart’s broader strategy to ensure simpler, more convenient shopping.” Walton and other company executives believed front-door greeters added to the “friendliness of our stores” and helped deter shoplifting, according to former Walmart COO Don Soderquist’s autobiography. Other retailers, including Costco, …

How Robert Kraft became a billionaire

New York (CNN Business)Robert Kraft bought the New England Patriots in 1994 from an owner who wanted to move the team to St. Louis and call them the Stallions. And the Patriots today are worth $3.7 billion, the sixth most valuable pro franchise in the world, and Kraft is worth $6.6 billion, according to Forbes. He is the 79th wealthiest person in America. On Friday, Kraft, 77, was making headlines for other reasons. He was facing charges of soliciting prostitution, stemming from a raid on a day spa in Florida. A spokesperson for Kraft denied that he had committed a crime. Lee Igel, an associate professor at NYU’s Tisch Institute for Global Sport, said Kraft transformed the Patriots into a …