31
Jul
2016
Walgreens to pull plug on Drugstore.com, Beauty.com
Screen-Shot-2016-07-31-at-3.39.19-PM-300x243.png 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
killed_by_death-300x225.jpg 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
jeffreypapenjpg-300x168.jpg 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
book-1-180x300.png 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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13
Jun
2016
Walgreens dumps Theranos
canned_unicorn_meat-257x300.jpg The major distribution channel for Theranos, Walgreens has ended the speculation that they may drop the disgraced biomed start-up by… dropping them. Not much left for this former unicorn. Forbes recently marked-to-market founder and CEO Elizabeth Holmes net worth from $4.5 billion …to zero. Read More
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13
Jun
2016
Dinner Lab files for bankruptcy
23-garbage-bag-food-300x158.jpg Pop-up dining start-up (I know I’m a square but, wtf is “pop up dining?”) Dinner Lab has burned through $10.2 million and filed for bankruptcy. Along the way they acquired competitor “Dishcrawl”, who I guess goes down with them now. Assets will be liquidated and creditors paid out. Members will probably be stiffed for their membership fees.   Read More
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