I became a millionaire at 28 but it took me a long time to find joy in my financial security
Hazel Secco became a millionaire at age 28. I can trace my attitudes about money back two generations. My grandmother grew up in Korea during the war generation. She passed her anxieties about money on to my mother. My dad was a gambling addict, which left my mom as the breadwinner for the entire extended…
Why Carson Block is shorting cosmetics company ELF Beauty
Carson Block is the founder of the short-seller Muddy Waters Capital. The notorious short-seller Carson Block has a new target: the discount cosmetics company ELF Beauty. The California-based beauty company “seems to sell product it does not have,” Block, the founder of Muddy Waters, said in his report, presented at the Sohn Conference in London…
Palmer Luckey says his Facebook firing changed the way he does business
Palmer Luckey, founder of Oculus and Anduril Industries, is using caution in his business dealings. Oculus founder Palmer Luckey said his frosty departure from Facebook years ago changed the way he approaches business deals. The billionaire was ousted from the tech company, which bought Oculus in 2014, in 2016 after a report that he’d donated…
Voice-cloning startup ElevenLabs looks to triple its valuation to more than $3 billion in new funding round led by Iconiq Capital
ElevenLabs’ product only needs minutes of audio of someone speaking to clone their voice. ElevenLabs, a startup that can recreate a person’s voice from a recording, is close to raising a new round of funding this year that would push its valuation to over $3 billion, B-17 has learned from two people with knowledge of…
The CEO of the biggest homebuilder association blames pricey land, a worker shortage, and bureaucratic obstacles for high housing costs
The US is suffering from a deep shortage of homes, and it’s driving sky-high home prices and rents. The laws of supply and demand explain it: the supply shortage — estimates of which range from 2.8 million homes to more than 7 million homes — coupled with an uptick in demand in recent years has…
Home prices may fall 20% as the housing market thaws — and help get baby boomers moving, research legend says
Boomers are staying put and not moving, says Meredith Whitney. Home prices are poised to fall by up to a fifth as the frozen housing market thaws — and that could help baby boomers sell at last and younger people to become homeowners, Meredith Whitney says. “It’s got to be a two-step process,” the CEO…
Russia’s top central banker says the country’s economy is at a ‘turning point’
Russian central bank governor Elvira Nabiullina said the bank plans to lower the key interest rate next year — barring “external shocks.” A key Russian official said an economic turnaround is on the horizon. Russia’s top central banker, Elvira Nabiullina, told the government yesterday that the country is approaching a “turning point” for inflation and…
The DOGE commission explains how it will reduce head count at federal agencies with a plan to get rid of remote work and offer workers early retirement
Vivek Ramaswamy and Elon Musk detailed their plans to lead the DOGE commission. The leaders of President-elect Donald Trump’s government efficiency commission have more details on how they will reduce head count across government agencies. On Wednesday, Tesla CEO Elon Musk and former GOP presidential candidate Vivek Ramaswamy wrote an opinion piece in The Wall…
Target CEO says shoppers are stretched and waiting until ‘the last moment of need’ to buy items
Target’s third-quarter results came up well short of Wall Street expectations, with sales growth of 0.3% from last year. Target has described US households as “resilient” in recent quarters. Now, the retailer is rolling out a new descriptor for shoppers this fall: “resourceful.” Looking to stretch their budgets just a little farther each month, US…
