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Month: May 2021

Business 0

Short Sellers Lose $1 Billion on AMC

AMC stock has doubled in just ten days, extending a 13-fold rally this year: Investors shorting the meme stock AMC Entertainment are estimated to have lost $1.23 billion over the last week as the shares rallied more than 116% since Monday, according to data from S3 Partners. AMC was the most active stock on the New York Stock Exchange by […]

Business 0

India Is Soaking Up Venture Capital Like a Sponge

It’s not just about the Bay Area anymore. Indian startups have raised venture funding at a record pace this year, on track to double from 2020: Startups raised total investments of $7.8 billion in the first four months of this calendar year, which is almost 70% of the overall corpus of $12.1 billion raised in entire 2020 and more than […]

Business 0

How the Mormon Church Made Millions on GameStop

There have been a lot of winners in GameStop’s dizzying, over tenfold rise in the last year. An unlikely one is the Mormon Church, which made over $8 million on GameStop shares through its investment arm: The Church of Jesus Christ of Latter-day Saints’ play for stock in GameStop paid off big-time as the Utah-based faith saw its shares in […]

Business 0

GameStop Pays Off $216 Million in Debt

It’s no secret that GameStop shares have gone vertical, up more than ten fold this year. Besides making millionaires of a lot of Redditors, this also lets GameStop sell more shares at high prices, enabling them to raise capital with ease. And raise they did, to the tune of $550 million in April. They recently used that money to completely […]

NYC Area 0

A Hidden Castle…In New Jersey?

As you round a clear blue lake, a second, smaller path winds away from the main trail. Up this path, on a peak covered with flowers, lie the remains of a vast stone edifice. This is Van Slyke Castle in Ramapo State Forest in Oakland, NJ, just 30 miles from midtown Manhattan. I visited with a friend last week and […]

Books 0

Liftoff: How Elon Musk Built SpaceX

At 1310 East Grand Avenue in El Segundo, just south of Los Angeles, sits a large white building. In 2002, it housed only about a dozen people. There wasn’t even a receptionist. Deep in this building was a small group of cubicles, staffed by about a dozen men. This tiny group had an audacious goal: sending the first humans to […]

Entertainment 0

This is Satriale’s From The Sopranos

They sit around tables covered in checkered cloths, sipping espresso. The conversations are hushed. As you approach, they fall silent. This is Satriale’s, the butcher shop that served as headquarters for Tony and his crew in The Sopranos. These scenes were shot at a storefront in Kearny, New Jersey, a working class, mostly Spanish town near Newark. Yesterday, I went […]

Business 0

Can Bitcoin Protect You From Inflation?

Bitcoin is often referred to as digital gold. Unlike fiat money such as the US dollar, its supply expands at a slow, steady rate. The Federal Reserve has printed so much money during the COVID crisis that money supply is up over 25%. This has led to fears of inflation. The consumer price index (CPI) jumped by 4.2% in the […]

Business 0

Bitcoin Is Worth More than the GDP of Switzerland

Ah, Switzerland. Home of fine chocolate, discreet bankers and pharma giants. It’s one of the richest countries on earth per capita, and home to world-leading companies like Nestle and Novartis. But this entire nation of nearly 9 million people with a history going back to the year 1300 has a GDP smaller than the total value of bitcoin, which has […]

NYC Area 0

The Real Groundhogs of New Jersey

You look out onto a small grassy area in a nearby park. Surrounding you are tall brick buildings and in the distance, the New York City skyline. Wait…is that something moving? This is how I discovered the adorable groundhogs of Auf der Heide Park in West New York, NJ two years ago. I’ve seen as few as one and as […]

Business 0

Palantir’s $100 Million Loss

Palantir released its earnings for the first quarter of 2021 today, and it’s not looking good. This 18 year old company that has never made a profit turned in a net loss of $123 million, versus $54 million in the first quarter of 2020. This is actually a little better than the full year results in 2020, where losses reached […]