CoinDesk, the crypto media company that broke the story that led to the fall of crypto exchange FTX and its founder Sam Bankman-Fried, is eliminating positions, according to an internal note from its CEO to staff obtained by Axios.
Why it matters: The expected cuts are part of a broader effort meant to help the company curb costs to facilitate a sale.
The previously unknown partner in a $2 billion video game mega-deal that mysteriously and dramatically collapsed last spring was the Saudi government-funded Savvy Games Group, Axios has learned.
Why it matters: The fallout of the failed deal sent shares of The Embracer Group — Savvy's would-be partner, and one of the most voracious acquirers of video games studios in the last several years — plummeting, and forced it into cost-cutting mode.
Robert Nelsen is one of the most successful biotech VCs ever, having backed over three dozen companies that reached billion-dollar valuations. He's also a thyroid cancer survivor who credits early detection to a company in which his firm, Arch Venture Partners, never invested.
Why it matters: There is a simmering medical debate over the value of full-body scans, like the one Nelsen received, and thegrowingcohort of venture-backed startups that provide them.
Bain Capital agreed to buy Chinese data center operator Chindata Group for $3.16 billion, beating out a rival bid from China Merchants Capital.
Why it matters: This suggests that U.S. private equity firms aren't too worried about an expansion of President Biden's executive order on outbound investment. Or that the Treasury Department will take a liberal view of what it means to be a company operating in the AI sector.
The year since passage of the big climate law has brought over $100 billion in U.S. solar and storage company investments.
Why it matters: New data from the Solar Energy Industries Association — a major industry trade group — on private investment suggests the law's subsidies for manufacturing and generation are significantly boosting industry activity levels.
Oil giants are increasingly testing the waters in the nascent direct air capture (DAC) industry.
Driving the news: Chevron will receive up to $3 million to help explore feasibility of a DAC project in California, the Energy Department revealed Friday.
Walter Isaacson — who'll be out 30 days from now with a new book titled "Elon Musk" — tells me Musk has studied the French emperor Napoleon Bonaparte for leadership insights.
The big picture: "He likes military history," Isaacson said, adding that Musk told him about reading and listening to World War I history. "And he believes there are lessons that apply to corporate life."
