Irina Dilkinska, 42, the head of compliance for OneCoin, the multi-billion euro multi-level marketing scheme, pled guilty Thursday to wire fraud and money laundering charges.
Why it matters: OneCoin is one of the most notorious early schemes associated with the cryptocurrency industry, generating €4 billion in revenue between 2014 and 2016, from over three million people.
G/O Media said Thursday that it's suspending its female-focused brand Jezebel and laying off 23 editorial staffers as part of a broader restructuring.
Why it matters: The cuts are the latest in a string of changes G/O Media has made to its portfolio in recent years amid volatility in the digital media industry.
As chief communications officer at Colgate-Palmolive, Paula Davis is responsible for managing the reputation of its 30-plus brands, which are found in more homes than any other brand in the world.
Corporate spinoffscan present the ultimate communications challenge.
Why it matters: Failing to clearly state why a business will be better off as a separate entity from its parent company risks losing support from employees, customers, investors and the media — and could threaten the performance of the new spinoff.
AI's story is still in its first chapter, and anything can happen. Business empires will emerge and topple, sharp fights will break out at the boundary between human and machine, and life with the tools we're building will just keep getting weirder.
Driving the news: Those were the only points on which leaders and critics of the AI revolution who spoke yesterday at Axios' first AI+ Summit in San Francisco seemed to agree.
Arm CEO Rene Haas knows that the first rule of post-IPO earnings is to meet or beat Wall Street expectations. And he thought his chip design giant had cleared the bar yesterday, until the market disagreed.
Driving the news: Arm, which in September raised $5 billion in the year's largest U.S. IPO, reported earnings for its second fiscal quarter the closing bell.
SAG-AFTRA, the union that represents Hollywood actors, on Wednesday announced a tentative agreement with the major studios that will end their 118-day strike.
Why it matters: The deal, if ratified by the union's members, would bring an end to a lengthy labor battle that has halted TV and film production for months.
Justine Bateman — the actor, filmmaker and author who is adviser on AI to SAG-AFTRA, the motion picture performers' union — told Axios' Ina Fried that AI is "not about solving problems for people. It's about money. It's about greed."
Driving the news: Speaking at Axios' AI+ Summit in San Francisco, Bateman drew a clear line on the use of generative AI in Hollywood, where SAG-AFTRA has been on strike since July, in part over disputes over AI-related rights.
Life insurance is boring, which is just what bitcoin needs, according to Zac Townsend, the CEO of Meanwhile.
Why it matters: Building classic financial services on newfangled digital assets is a road to building out crypto's original vision: An alternative financial system based on a monetary system that's not subject to the whims of politicians.
America's seniors continue to be a key driver of consumer spending.
Why it matters: Their spending power may play an important role in the resiliency of the economy, as Gen X, millennials and younger consumers slow down.
Disney's stock jumped 3% on Wednesday after the media giant beat analyst expectations on earnings and significantly reduced losses within its streaming division.
Why it matters: Disney is under enormous pressure from investors to make its streaming division profitable by its 2024 deadline.
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