21
Sep
2016
E-cig unicorn NJOY goes terminally bankrupt
After raising $70 million from backers like Peter Thiel and Bruno Mars at a valuation in excess of $1 Billion, e-cigarette manufacturer NJOY has filed for bankruptcy. It has an accumulated deficit of $234.4 million, according to the filing. NJOY also ... Read More
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26
Aug
2016
Paul Hellyer’s The Money Mafia audiobook coming in 2016
We are thrilled to announce that we will be bringing Paul Hellyer’s The Money Mafia to audiobook format as soon as September 2016. Mr. Hellyer will be joining me in a podcast around that time, until then here’s the speech he delivered in Toronto when The Money Mafia was released. The video was produced by modernknowledge.ca. As Hellyer notes: “We the people own the patent to create ‘money’. We have licensed private individuals to do... Read More
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31
Jul
2016
Walgreens to pull plug on Drugstore.com, Beauty.com
In a cost cutting initiative, Walgreens will shut down drugstore.com and beauty.com by the end of September, proving once again that when placing your faith in “category killing” domains, the only thing you may kill is your own business. Walgreens acquired their fleet of ecommerce sites in 2011 for $429 million. They will incur a charge of $115 million pre-tax as part of the shutdown. Drugstore.com launched in 1999 (of course!) and IPO-ed at $65/share... Read More
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19
Jun
2016
DAO ether trading platform DOA after cyber-heist
This one is a heartbreaker, nobody likes to see malevolent actors succeeding in killing an entire company but that’s what’s happened with the ether crypto-currency trading platform DOA. Thieves have reportedly stolen $50 million in an “ongoing cyber-heist” from the platform, forcing it to shut down. Read More
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16
Jun
2016
Peak Hosting drops basket with big golden egg, files for bankruptcy
Oregon data center Peak Hosting has retreated from a “massive growth trajectory” and has laid off three quarters of its workforce (peaked at 200 f/t employees, now down to 50) and filed for bankruptcy after losing it’s biggest customer: mobile gaming company Machine Zone. The lost client was worth a reported $4 million/month in lost revenues.   Read More
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15
Jun
2016
A Radically Beneficial World by Charles Hugh Smith
Our first audiobook is Charles Hugh Smith's A Radically Beneficial World: Automation, Technology and Creating Jobs for All Read More
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