Microsoft is No. 1—again—in the Drucker Institute’s annual Management Top 250 ranking, but the tech sector’s grip on the top spots loosened, the Wall Street Journal reports. Unlike last year, when tech companies took the first five spots, this year’s top five include General Motors at No. 4 and Whirlpool Corp. at No. 5. Apple and IBM ranked second and third, respectively.
Elon Musk is no longer the richest person in the world, after the stock price of Tesla, one of the companies he heads, tumbled this week, BuzzFeed News reports. The new richest person is Bernard Arnault, CEO of the luxury fashion conglomerate LVMH, which owns brands like Louis Vuitton, Dior, Tiffany and Moët. In the Bloomberg Billionaire Index, Musk’s net worth dropped just under $168.5 billion, dipping below Arnault’s $172.9 billion.
The U.S. government on Tuesday charged Samuel Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes, AP News reports. He is accused of intentionally deceived customers and investors to enrich himself and others, while playing a central role in the company’s multibillion-dollar collapse.
Quanergy Systems, a Silicon Valley developer of solid-state lidar sensors, has filed for Chapter 11 bankruptcy protection. This is one of the SPAC market's fastest fails, Axios reports. Quanergy went public just 10 months ago via a SPAC sponsored by China's CITIC Capital, at an implied $1.4 billion equity value.
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Lawrence Livermore National Laboratory in California announced on Tuesday a scientific breakthrough: the first fusion reaction in a laboratory setting that actually produced more energy than it took to start the reaction. But it will take decades before fusion becomes available on a widespread, practical scale, if ever, the New York Times reports.
Like most legal commodities, stolen data products flow through a supply chain consisting of producers, wholesalers and consumers. But this supply chain involves the interconnection of multiple criminal organizations operating in darknet markets, or illicit underground marketplaces, Christian Jordan Howell and David Maimon write on The Conversation.
Maintaining bitcoin and other cryptocurrencies causes about 0.3 percent of global CO2 emissions—more than the emissions produced by Switzerland, Croatia, and Norway combined. But cryptocurrencies don’t have to be carbon intensive, The Atlantic writes. In fact, some—using proof of stake vs proof of work—have near-zero emissions.
Amid backlash over the intrusion of algorithmic, recommended content into Instagram’s feed, the social platform this week introduced a number of new features designed to make it easier for users to keep up with their real-world friends, TechCrunch reports. Most notably, it rolled out Notes, which allows users to post updates using just text and emoji.
Clint Fontanella, a writer for HubSpot, is an experienced blogger. But blogging while on a journey down the Great Divide, a mountain bike trail that stretches from Canada to Mexico, taught him some new lessons about content creation.
Want to know how devastating the impact of a comet or asteroid could be? Asteroid Launcher, created by Neal Agarwal, is a browser app that can provide the answer, Vice reports. A 1,500-foot diameter iron asteroid striking Rochester would have an impact equivalent to 9 gigatons of TNT, vaporizing 120,847 people in a crater 1,866 feet deep.