Friday's Fast Five: Week of 11.17
A Possible Winner From WeWork’s Troubles? Adam Neumann (The Wall Street Journal): The shared office space company’s co-founder and former chief executive left WeWork four years ago as a billionaire thanks to large stock sales and a lucrative exit package. Now, with WeWork in bankruptcy and his remaining shares near worthless, there is a potential for further financial gain for Neumann worth hundreds of millions of dollars.
The SAG-AFTRA strike is over. Here are 6 things actors got in the new contract. (CBS News): The actors strike is over, with the union representing performers last week approving a tentative agreement with Hollywood studios. Leaders of the Screen Actors Guild - American Federation of Television and Radio Artists (SAG-AFTRA) characterized the deal as a big win, with the contract achieving significant breakthroughs on actors' pay and putting guardrails on the industry's use of generative AI.
Charlie Munger (Acquired Interviews): We sit down with the legendary Charlie Munger in the only dedicated longform podcast interview that he has done in his 99 years on Earth. Over dinner at his Los Angeles home, Charlie reflected with us on his own career and his nearly 50-year partnership at Berkshire Hathaway with Warren Buffett. He offered lessons and advice for investors today, and of course he shared his speech on the virtues of Costco once again (among other favorite investments).
Microsoft announces custom AI chip that could compete with Nvidia (CNBC): Microsoft unveiled two chips at its Ignite conference in Seattle on Wednesday. The first, its Maia 100 artificial intelligence chip, could compete with Nvidia’s highly sought-after AI graphics processing units. The second, a Cobalt 100 Arm chip, is aimed at general computing tasks and could compete with Intel processors.
ESPN Bet sets its sights on DraftKings and FanDuel (Axios): Gambling giants FanDuel and DraftKings boast a gaping lead in the sports betting business, having parlayed their early investments in fantasy sports into digital gambling empires. Will ESPN's promotional prowess be enough to help its eponymous betting app climb into the upper echelon of sports gambling?