For decades some wealthy people and businesses have avoided paying taxes in their home countries by setting up “shell companies” in tropical locales like the Cayman Islands or the Bahamas. The lax tax rates of these nations allow individuals and organizations to quietly keep their money out of government coffers. In today’s digital age, however, it’s a lot harder to keep a secret than it used to be. Just ask the clients of the Panamanian law firm Mossack Fonseca, the Continue reading
Throughout the U.S., food delivery apps like GrubHub and Postmates have totally transformed takeout. These services offer eaters a variety of cuisines and restaurants to choose from, a far cry from the days when many American homes could only order pizza for delivery. And unlike other tech startups, food delivery companies have developed solid profit models based on the service fees they charge. This dependable system translates into markets throughout the world. The Berlin-based delivery service Foodpanda, for instance, operates Continue reading
For decades China’s industrial economy grew at a breakneck pace thanks to heavy investment from the state. This expansive age may be at an end, however. Over the last few years, demand for Chinese goods has dropped and its stock market has become increasingly unpredictable. Analysts say that China built up far too much manufacturing infrastructure that has now become an excessive drain on resources. As a result, last week the Chinese government announced the drastic measures it would take Continue reading
Last week, a judge ordered Apple to help the FBI unlock an iPhone used by one of the perpetrators in the San Bernardino mass shooting. Despite the gravity of the case, the tech giant refused the government’s request on the grounds that such an act would compromise the security of all its customers. “We feel we must speak up in the face of what we see as an overreach by the U.S. government,” said Apple CEO Tim Cook in a Continue reading
For many inventors, creating a machine that’s functional as well as popular can feel like striking gold, even if the actual material reward for their work isn’t exactly golden. That’s the situation Shane Chen found himself in since inventing the “hoverboard,” a two-wheeled, Segway-like vehicle that doesn’t quite float but has nevertheless been flying off the shelves. Unfortunately for Chen, many consumers are buying hoverboards from companies that have not paid him for his patented design. Instead, consumers are taking Continue reading
For years, skilled workers from around the world have used H-1B visas as their tickets into the U.S. These visas are intended to provide companies with a pool of specialized foreign labor in case they can’t find any qualified domestic candidates. According to a recent lawsuit, however, one of the world’s biggest brands may have been abusing the H-1B system in order to boost their own bottom line. Rather than filling open positions with outsourced labor, The Walt Disney Company Continue reading
In 2014 more than three hundred million Indians were regular users of the Internet, representing nearly a quarter of the country. With that number expected to double by 2020, India is the fastest growing online market outside of China. However, there’s a crucial difference in the way these two Asian nations use the Web. While China’s government prohibits foreign digital services like Facebook from setting up shop, India welcomes them.
At least that’s the way it works in theory. After Continue reading
Last year we featured a post about the unfortunate case of Texas plumber Mark Oberholtzer. In need of a better truck for his business, he took his old Ford F-250 to a local dealership and traded it in for a newer model. The plumber didn’t give the transaction a second thought until about a year later when the complaints started rolling in. Due to the extraordinarily complicated nature of the global auto resale market, Oberholtzer’s truck somehow ended up in Continue reading
For many environmentally conscious diners, where their food comes from is almost as important as the food itself. Followers of the “farm-to-table” movement try to avoid items made on industrial-scale factory farms in favor of locally produced, organic goods. Over the years this concept has expanded from the stands at local farmers’ markets and into mainstream foodie culture. But while this concept works for farm-cultivated products like vegetables, beef and poultry, following fish from “ocean-to-table” is trickier to pull off. Continue reading
In the 1960s Northeast Italy’s artisans banded together to form small family-owned businesses that depended closely on one other. Each company manufactured a single part of a finished product that held the entire town’s attention. For instance, the tiny burg of Montebelluna specialized in making ski boots, with dozens of companies contributing parts like buckles and foam linings. The town eventually became famous for its high quality footwear, producing about three-quarters of the world’s ski boots at its height. One Continue reading