Tesla owner Elon Musk has never been shy about seeking the spotlight, and for years he could always find an easy audience by talking to his Twitter following of more than 100 million people. Even that level of attention wasn’t enough for the world’s richest man, however, who purchased the social network outright at the end of October for a whopping $44 billion. That gargantuan price tag now ranks as history’s largest leveraged buyout of a tech firm, although it Continue reading
2022 has been a tough year for Meta, the company formerly known as Facebook. In February we examined how the social media giant lost $230 billion in market value in a single day. Then in September, we looked at the company’s premier platform Instagram and how it angered many users by trying to emulate the short-video format of TikTok. Many of Meta’s woes stem from recent changes to Apple’s terms of service that prevent digital advertisers from collecting data Continue reading
After years of unease, this year Americans are approaching holidays like Halloween with a level of enthusiasm not seen since pre-pandemic times. According to a survey from the National Retail Federation (NRF), 69 percent of consumers plan to celebrate Halloween this year, an amount that is on par with the stats from 2019. “As consumers continue to return to pre-pandemic behaviors, retailers are prepared to meet that demand and help make this holiday a fun and memorable one,” said NRF Continue reading
A few weeks ago, we looked at the sprawling global sneaker industry and how companies like Adidas earn billions annually thanks in large part to their unique brand partnerships. The German sneaker giant’s most profitable celebrity connection over the years has been with Kanye West (now known as Ye), with whom Adidas has collaborated on the Yeezy line of shoes and clothing for nearly a decade. This partnership has been hugely profitable: one data research firm estimates that Yeezy is Continue reading
Earlier this week, we posted a video about a seemingly unremarkable highway corridor in Arizona that turned into a haven for enormous warehouses. Logistics hubs like these are becoming increasingly common around the U.S., from Southern California’s warehouse epicenter in the Inland Empire to multi-million square-foot facilities in Ohio and New York. Satellite images collected over the last 20 years show how warehouses have transformed acres of wide-open space into concentrated networks of huge buildings swarming with workers. In fact, Continue reading
Last month, Hurricane Ian devastated communities across the state of Florida, leading to more than 100 deaths and billions of dollars in damage. According to the catastrophe modeling firm RMS, privately insured losses are expected to reach as high as $67 million, making Ian second only to Hurricane Katrina in terms of economic destruction. Unlike previous storms like Katrina and Hurricane Andrew, however, today’s scientists blame climate change for the increasing regularity of severe weather events. That means experts see Continue reading
According to the Centers for Disease Control and Prevention (CDC), six out of 10 Americans suffer from chronic lifestyle-related diseases that often stem from obesity and poor diet. These illnesses are the nation’s leading drivers of death and disability, as well as the central cause behind the $4.1 trillion in annual health-care costs paid by Americans. Obesity rates climbed during the pandemic, especially among children, with studies showing that 45.7 percent of 5- to 11-year-olds are now considered overweight. Given Continue reading
The global sneaker market has grown into a massive $72 billion industry where collectors often accumulate hundreds of pairs of limited-edition shoes from giants like Nike and Adidas. Some lines go on to command huge prices on the resale market, such as a collaboration between Nike and ice cream maker Ben & Jerry’s called Chunky Dunky. Originally sold for $100, these shoes now sell for as much as $1,000. High price tags like these don’t just attract the attention of Continue reading