A man reads a book at the Anantara Rasananda in Koh Phangan, Thailand.
Paula Bronstein/Getty Images
A man reads a book at the Anantara Rasananda in Koh Phangan, Thailand.
Paula Bronstein/Getty Images
Fred DeLuca in an internal Subway employee calendar.
Courtesy of a former Subway employee
The former top digital executive at Tribune Publishing, who left last September, has landed as the chief product officer of TheWrap, a Hollywood online news site.
Dan Strauss, based in Los Angeles, had been the senior vice president and general manager of entertainment and lifestyle at the Los Angeles Times starting in November 2017, but stayed with the parent company Tronc — as Tribune was known briefly — when the LA Times was in the process of being sold to Dr. Patrick Soon-Shiong.
He started with TheWrap June 1 as its first chief product officer.
The hire comes as TheWrap battles the 800-pound guerilla of Penske Media, which owns TheWrap’s one-time bitter online rival, Deadline, as well as the leading trades, Variety and The Hollywood Reporter.
Sharon Waxman, founder and editor in chief, said Strauss will be charged with growing subscriptions, developing new products and seeking licensing and partnership deals as the company rebounds from COVID-19, which shut down much of Holylwood.
TheWrap founder and editor in chief Sharon Waxman said Dan Strauss will be charged with growing subscriptions, developing new products and seeking licensing and partnership deals.Getty Images for TheWrap
Strauss, earlier in his career, spent nearly three years as the digital general manager of The Hollywood Reporter/Billboard from 2013 to 2016 under its previous ownership.
“TheWrap has entered a new phase of growth after emerging successfully from the challenges of the pandemic year,” said Waxman, who launched the company in 2009 with backing from Starbucks founder Howard Schultz.
She didn’t disclose financials, but said the company is no longer in investment mode and is making a profit.
“Dan is a key element of that growth strategy and an important addition to our top-notch management team,” she said.
GameStop reported better than expected earnings this week — but its numbers were overshadowed by a disclosure that the Securities and Exchange Commission was investigating its trading practices.
The company reported on Wednesday a 25 percent increase in sales in their first fiscal quarter and revenue of $1.28 billion — up from $1.02 billion a year ago.
In its earnings filing, the company revealed: “On May 26, 2021, we received a request from the Staff of the SEC for the voluntary production of documents and information concerning a SEC investigation into the trading activity in our securities and the securities of other companies.”
The company brushed off worries they’d be damaged by the SEC’s interest. “This [SEC] inquiry is not expected to adversely impact us,” GameStop said in a statement.
GameStop shares opened 10 percent lower Thursday on the news.
Earlier Wednesday, SEC chief Gary Gensler suggested the commission may be looking at multiple so-called meme stocks as part of a broader review of market structure.
SEC chief Gary Gensler suggested the commission is investigating multiple meme stocks as part of a broader review of market structure and volatility.Getty Images
Speaking at a conference, the Chairman said he and his staff would be looking at possible responses to the volatility of stocks like GameStop and AMC which have skyrocketed over the past year as Reddit boards continue to hype them.
GameStop has risen 1,500 percent over the last year and AMC has spiked 2,200 percent.
“The question is whether our equity markets are as efficient as they could be, in light of the technological changes and recent developments,” Gensler said.
He clarified the staff would take their time implementing any changes and would accept industry input on any proposal. Still, news of the SEC’s involvement was enough to dampen investor enthusiasm and raise questions about how viable the company is over the long-term.
GsmeStop plans to file a prospectus with the SEC in order to sell up to 5 million more shares.AFP via Getty Images
Shareholders asking those questions weren’t given answers yesterday. Outgoing CEO George Sherman spoke for just 11 minutes and refused to take questions.
The company said it still plans to file a prospectus with the SEC to sell up to 5 million more shares of common stock to investors, a move that could raise up to $1.5 billion for potential acquisitions if their stock price remains constant.
Apart from the announcements, the company declined to provide a forecast.
“Investors deserve more than memes to value a company’s fundamental, long-term prospects,” Colin Sebastian and Dalton Kern of Baird wrote in a note to investors.
Intel’s 17-qubit quantum test chip.Source: IntelStefan Thomas really could have used a quantum computer this year. The German-born programmer and crypto trader forgot the password to unlock his digital wallet, which contains 7,002 bitcoin, now worth $265 million. Quantum computers, which will be several million times faster than classical computers, could have easily helped him crack the code.Though still very much in its infancy, governments and private sector companies like Microsoft and Google are working to make quantum computing a reality. Within a decade, quantum computers could be powerful enough to break the cryptographic security that protects cell phones, bank accounts, email addresses, and — yes — bitcoin wallets.”If you had a quantum computer today, and you were a state sponsor – China, for example – most probably in about eight years, you could crack wallets on the blockchain,” said Fred Thiel, CEO of cryptocurrency mining specialist Marathon Digital Holdings CEO.This is precisely why cryptographers around the world are racing to build a quantum-resistant encryption protocol.Quantum hacking Right now, much of the world runs on something called asymmetric cryptography, in which individuals use a private and public key pair to access things like email and crypto wallets. “Every single financial institution, every login on your phone – it is all based on asymmetric cryptography, which is susceptible to hacking with a quantum computer,” explained Thiel, former chairman of Ultimaco, one of the largest cryptography companies in Europe, which has worked with Microsoft, Google and others on post-quantum encryption.The public-private key pair lets users produce a digital signature, using their private key, which can be verified by anyone who has the corresponding public key. In the case of cryptocurrencies like bitcoin, this digital signature is called the “Elliptic Curve Digital Signature Algorithm,” and it ensures that bitcoin can only be spent by the rightful owner. Theoretically, someone using QC could reverse-engineer your private key, forge your digital signature, and subsequently empty your bitcoin wallet. “If I was dealing in fear mongering…I’d tell you that among the first types of digital signatures that will be broken by quantum computers are elliptic curves, as we use them today, for bitcoin wallets,” said Thorsten Groetker, former Utimaco CTO and one of the top experts in the field of quantum computing.”But that would happen if we do nothing,” he said.Fortifying bitcoin walletsCrypto experts tell CNBC they aren’t all that worried about quantum hacking of bitcoin wallets for a couple different reasons. Castle Island Ventures founding partner Nic Carter points out that quantum breaks would be gradual rather than sudden. “We would have plenty of forewarning if quantum computing was reaching the stage of maturity and sophistication at which it started to threaten our core cryptographic primitives,” he said. “It wouldn’t be something that happens overnight.”There is also the fact that the community knows that it is coming, and researchers are already in the process of building quantum-safe cryptography. “The National Institute of Science and Technology (NIST) has been working on a new standard for encryption for the future that’s quantum-proof,” said Thiel. NIST is running that selection process now, picking the best candidates and standardizing them. “It’s a technical problem, and there’s a technical solution for it,” said Groetker. “There are new and secure algorithms for digital signatures…You will have years of time to migrate your funds from one account to another.”By 2024, Groetker is expecting the first standard quantum-safe crypto algorithm, which is still, as he puts it, well before we’d see a quantum computer capable of breaking bitcoin’s cryptography.Once a newly standardized post-quantum secure cryptography is built, Groetker says the process of mass migration will begin. “Everyone who owns bitcoin or ethereum will transfer [their] funds from the digital identity that is secured with the old type of key, to a new wallet, or new account, that’s secured with a new type of key, which is going to be secure,” he said.However, this kind of upgrade in security requires users to be proactive. In some scenarios, where fiat money accounts are centralized through a bank, this process may be easier than requiring a decentralized network of crypto holders to update their systems individually. “Not everybody, regardless of how long it takes, will move their funds in time,” explained Groetker. Inevitably, there will be users who forget their password or perhaps passed away without sharing their key.”There will be a number of wallets…that become increasingly insecure, because they’re using weaker keys.”But there are ways to deal with this kind of failing in security upgrade. For example, an organization could lock down all accounts still using the old type of cryptography and give owners some way to access it. The trade-off here would be the loss of anonymity when users go to reclaim their balance.
In this articleBTC.CM=Chesnot | Getty ImagesBitcoin surged on Thursday, a day after El Salvador passed a law to adopt bitcoin as legal tender.The cryptocurrency jumped 6% to more than $37,000. It last changed hands at $37,653.44 at about 8:18 a.m. ET, according to CoinDesk data.On Wednesday, lawmakers in the Central American country passed a law that made bitcoin legal tender. Among other things, it means prices can now be shown in bitcoin and tax contributions can be paid with the digital currency.Bitcoin proponents, who have long seen the digital coin as a viable alternative to fiat currencies, welcomed El Salvador’s moves.The country has struck a partnership with digital wallet company Strike, to build the country’s modern financial infrastructure using bitcoin technology.Other cryptocurrencies got a lift as well, and ether and XRP were both trading higher.Bitcoin is still significantly off of its record high of $64,829.14 that was hit in April.Bitcoin is known for wild price swings that have prompted critics to suggest it is not suitable to be an effective currency. El Salvador’s case will be closely watched to see how bitcoin might work as a payments mechanism on a country-wide basis.
Jeff Sine is an under-the-radar dealmaker who is quietly one of the most trusted advisors to SoftBank CEO Masayoshi Son, left, as well as other corporate titans like Rupert Murdoch, second from left, and Ari Emanuel, right.
Alessandro Di Ciommo/NurPhoto via Getty Images; Taylor Hill/Wire Image; Ben Gabbe/Getty Images for Common Sense Media; Amy Sussman/Getty Images; Raymond Boyd/Getty Images; Samantha Lee/Insider
Apple Music with Dolby Atmos spatial audioTodd Haselton | CNBCApple rolled out a really cool new Dolby Atmos surround sound feature to Apple Music this week that might help it attract and keep subscribers as it competes with streaming music leader Spotify.Dolby Atmos spatial audio makes it feel a bit more like music is surrounding you while using headphones, instead of just piping into your left and right ears. Songs with Dolby Atmos are available for free, so long as you’re already an Apple Music subscriber. Dolby Atmos is also available through Amazon Music HD and TIDAL subscriptions, while Deezer uses Sony’s competing version, 360 Reality Audio, for its Deezer HiFi service. Spotify doesn’t yet have a Dolby Atmos option.I’m not an audiophile, and I can’t usually tell the difference between some of the higher-quality tracks music services have started to roll out. But there’s a noticeable difference between regular stereo music and these new “Spatial Audio with support for Dolby Atmos” songs. At least, most of the time. The difference is more noticeable in some songs than others.There are only thousands of tracks, out of the 75 million in Apple Music, with support for it right now, but Apple has some playlists that can show you what it’s capable of. And new albums will continue to add support while artists rework some older songs, too. It’s probably not enough alone to get people to subscribe to Apple Music — at least not yet — but it’s a nice added benefit for people who already have Apple Music to get more out of the service.What is Dolby Atmos spatial audio?Normally, when you listen to a song through headphones, you’re listening to stereo sound. It’s like when you have two speakers on the left and right of your TV. Dolby Atmos offers surround sound, so it’s similar to what you might expect if you had a bunch of speakers all around your living room. Except, instead of having a bunch of living room speakers all around you, this works through your headphones. AirPods Pro will get a new surround-sounds spatial audio experience.AppleDolby Atmos allows musicians to create songs that specifically place vocals and instruments in certain areas of the “sound stage.” And these are the new types of songs that are now available in Apple Music. This fall, Apple will build on it with a head-tracking feature for AirPods Pro and AirPods Pro Max that’s already available for things like movies and TV shows that offer Dolby Atmos. When that’s on, it sounds like the music is coming from the device that’s playing it. So, if you have headphones on, and you turn your head, you’ll hear the music shift in the direction of your iPhone, for example. Sort of like the iPhone is the stage. What do I need to listen to spatial audio?Apple Music with Dolby Atmos spatial audioTodd Haselton | CNBCYou need an Apple Music trial or a subscription, which costs $4.99 a month for students, $9.99 a month for individuals or $14.99 a month for families up to six people.You can listen through:AirPodsAirPods Pro or AirPods Pro Max, with Spatial Audio turned onBeatsX, Beats Solo3 Wireless, Beats Studio3, Powerbeats3 Wireless, Beats Flex, Powerbeats Pro or Beats Solo ProIt also works through the built-in speakers on iPhones and iPads released in the last few years, except the iPhone SE, but I found it much more noticeable through headphones.But you don’t actually need AirPods or Beats headphones. Dolby Atmos songs work on all headphones, you just need to turn on “Always On” in your iPhone or iPad settings first. To do that:Open Settings on your iPhone or iPad.Choose Music.Select “Dolby Atmos”Change the setting to “Always On.”If you’re listening from an Apple TV, you can listen to Dolby Atmos through speakers that support the format, or through the aforementioned AirPods and Beats headphones. To turn it on, go to Settings > Apps > Music and make sure Dolby Atmos is on “Automatic.” On a Mac, you’ll want to enable the setting to download in Dolby Atmos in the preferences menu of Apple Music.How do I listen to spatial audio in Apple Music?Apple Music with Dolby Atmos spatial audioTodd Haselton | CNBCIt’s easy to try Dolby Atmos spatial audio in Apple Music. If you open the app right now, you’ll see several playlists for various genres with songs created to support Dolby Atmos. But I recommend starting with the “Hits in Spatial Audio” playlist, which provides an audio example of stereo vs. Dolby Atmos.As new tracks and albums roll out, you’ll see a little tag under each song that shows “Dolby Atmos” to let you know it supports the format. You’ll have to redownload your songsApple Music with Dolby Atmos spatial audioTodd Haselton | CNBCYou can stream Dolby Atmos all you want. But if you want those tracks available when you don’t have a Wi-Fi connection, you need to download them. And if you already have non-Dolby Atmos songs downloaded, you’ll have to delete those and redownload the song to get it in the spatial audio format. You can make sure future downloads always download the Dolby Atmos version by opening Settings on your iPhone and tapping Music and enabling the Download in Dolby Atmos option.Subscribe to CNBC on YouTube.
When it comes to fame and infamy, former Theranos CEO Elizabeth Holmes has apparently cornered the market.Internet sellers are cashing in on mugs, T-shirts and even shower curtains in the weeks before her criminal fraud trial starts in August.A review of online stores shows more than 50 listings of Holmes and Theranos merchandise on Etsy, Poshmark, eBay and Redbubble.One of the more unique items is what’s billed as an authentic Theranos lab coat listed for $17,000.Holmes, once a Silicon Valley darling, is facing federal wire fraud and conspiracy to commit wire fraud charges in connection with allegedly deceiving investors, patients and doctors about her company’s blood testing technology.Yet customers are raving about their product purchases on social media.In one TikTok, a young woman is seen posing in a mirror wearing a pink T-shirt that reads “Elizabeth Holmes is my #GirlBoss.”Another TikToker shows off a mug featuring Holmes on one side and Theranos on the other. She says “I truly do wish that Elizabeth Holmes had an MLM so that I could join it.” An MLM is a controversial multilevel marketing operation that the U.S. Federal Trade Commission cautions may be a pyramid scheme.And another pulls a T-shirt out of a package, proclaiming: “Y’all it’s here. The queen of Theranos, Elizabeth Holmes.”A search of Instagram and Twitter also shows customers posing with their merchandise.Elizabeth Holmes, founder and CEO of Theranos.David Orrell | CNBC Holmes, who is pregnant and due next month, is facing up to 20 years in prison if convicted. She has pleaded not guilty to the charges. Before the downfall of Theranos, her image was seemingly everywhere, even landing her on the cover of Forbes.Today, despite a battered image and an upcoming 13-week-long trial, her brand is still apparently popular.”It doesn’t surprise me, Elizabeth Holmes was a very inspiring person,” says Mark Macias, founder of Macias PR. “She was the youngest female billionaire, self-made entrepreneur and even though we found out it was allegedly fraud — she sold something that was revolutionary.”Anthony, owner of the Etsy shop “Finance Memes” says sales for his Holmes-related merchandise have spiked since February. Anthony asked CNBC not to use his last name for fear of jeopardizing his employment.”You see it with Wall Street Bets – people love to talk about how much they’ve lost,” said Anthony. “There’s an obsession with fraud, gambling and taking bad risks. Everyone loves a good villain.”A mug that says “Theranos Early Investor” is his Etsy shop’s most popular item, Anthony says. “It’s a little more low key, you can stash it in your drawer when your boss walks by.” Anthony says he’s had over 200 visits on the mug in the last few months.”There’s always going to be people on the fringe, who want to express themselves, take on the establishment and show the finger at them,” Macias said. Yet, he warns, “if you want to have a long-lasting brand then it’s better to be famous. Infamy is short, it can ruin and destroy a brand.”For Holmes, whatever image she projects, it’s everlasting. As James Surowiecki, an MSNBC columnist, wrote in a recent piece, “on the way up and on the way down, one thing about Elizabeth Holmes has stayed consistent: People are fascinated by her.”Watch the video to learn more.
The news release, WW Honors Local Leaders Around the World Dedicated to the Advancement and Wellness of Underrepresented Communities, issued June 10, 2021 by WW International, Inc. was transmitted incorrectly by PR Newswire. Three footnotes were omitted. The release has been updated to include the footnotes. The complete, updated release follows:WW Honors Local Leaders Around the World Dedicated to the Advancement and Wellness of Underrepresented CommunitiesFirst-ever WW Wellness Impact Award Winners secure $220,000 in grants to further break down the barriers to wellnessNEW YORK, June 10, 2021 /PRNewswire/ — WW International, Inc. (NASDAQ: WW), a human-centric technology company powered by the world’s leading commercial weight management program, announced today the winners of its first-ever WW Wellness Impact Award. The new global initiative aims to empower, uplift and support community leaders to help address the systemic inequities faced in countries including the US, Canada, United Kingdom, France, Sweden, Belgium, Netherlands, Australia and New Zealand.Every community deserves resources for healthy living – and WW knows first-hand the power of community to support and uplift each other – but the staggering reality is that not every community has equal access, and this was only exacerbated by the COVID-19 pandemic. In North America, in acknowledgement of the stark health and funding inequities caused in part by systemic racism, the inaugural year of the award specifically spotlights leaders dedicated to the advancement of wellness in Black, Indigenous and communities of color. For instance, communities of color are three times less likely than white communities to have access to parks, walking paths, and green spaces1, and Black and Hispanic adults are twice as likely to experience food insecurity as white adults2. When it comes to funding and support, only 10 percent of grant dollars go to people of color3 — a figure the Wellness Impact Award seeks to influence.More than 400 organizations were nominated, representing wellness issues from fighting food insecurity to advocating for access to nature. Of those, six organizations across North America and seven organizations globally were selected to each receive a $15,000 grant awarded by WW to support their mission.
“Our goal with this award is to raise awareness of the root causes of wellness inequities by highlighting community-led solutions and amplifying the reach of local changemakers,” said Gail Tifford, Chief Brand Officer, WW. “We had so many powerful submissions and we’re so proud to honor those that are taking a stand to democratize and reimagine what wellness looks like for their communities.”The North American grant winners are:Esperanza Community Farms, which ensures low-income farm-working families have access to fresh, pesticide-free, culturally preferred fruits and vegetables and helps give marginalized voices the crucial tools to fight for food justice within their communities. Backyard Basecamp, which helps young people establish a connection with, and feel confident in, the outdoors by creating safe outdoor spaces and through educational nature programs. Black Girls Do Bike, which works to ensure everyone — especially girls and women of color — has the ability to enjoy the freedom, empowerment, and positive effects of cycling, while breaking down systemic barriers to cycling. EatWell Exchange, which increases accessibility and offers credible nutrition education with a focus on culture through community gardens and culinary programs. Soul Trak Outdoors, which is on a mission to empower outdoor advocates by engaging disenfranchised communities through recreation, service, and leadership in nature — while amplifying the voices of diverse leaders. Restoration and Empowerment for Social Transition (REST) Centres, which help provide access to safe and affordable housing for youth experiencing homelessness whose income may not be reliable.In the global markets, the winning organizations focused on the root causes of health inequities, including sustained access to food and mental health resources. The global grant winners are:Cheesy Waffles Project (UK), which supports all people, including people with learning disabilities, have access to safe, supportive activities and opportunities in life to help promote the learning of new skills, try new activities, visit new places and most importantly have fun. Cop’1 (FR), which students in need by mobilizing local volunteers to organize weekly, free distribution of food and basic necessities. Generation Pep (SE), which gives young people the opportunity to establish active and healthy lives by changing the culture around physical activity and eating habits. Vincent de Paul Belgium (BE), which addresses all aspects of poverty, including housing, food, and education, with a network of 300 local associations through the lenses of dignity and holistic health. Stichting MIND(NL), which fights for everyone struggling with mental health by promoting understanding of mental health, providing support and improving healthcare. Community Friends (AU), which supports people experiencing homelessness as well as those at-risk for homelessness by providing food, clothing, housing, and health services. The Mums Clique (NZ), which ensures that no mother ever feels alone while navigating parenthood, by offering free or low-cost programming and essential products, as well as an emphasis on fostering community and friendships.In addition to the grant, winners will have the opportunity to take part in a variety of WW campaigns and initiatives. They will also receive free WW memberships and inclusion as a charity option in WW’s member loyalty program, in partnership with its foundation, WW Good, a 501(c)(3) nonprofit organization. Each of the winners will also have exposure to WW leadership and experts, WW’s millions of members, and spotlight features to engage WW’s community on their causes.Award finalists — Black Girls Cook, Free Black Therapy, Asian Americans for Housing and Environmental Justice, Pride ROC, Feed Black Futures, Shelley Cares Foundation and the WISH Drop-In Centre — will also receive funding opportunities and spotlights among the WW community. Beyond recognizing the finalists, the inaugural Wellness Impact Award inspired WW to create an alumni community of applicants that will have the opportunity to participate in knowledge sharing sessions, expert seminars, and networking.
The award jury selection process included the WW Wellness Impact Committee, a group of diverse WW employees that spans levels and areas of the organization, and the broader WW community, inclusive of both members and non-members.About WW International, Inc. WW (formerly Weight Watchers) is a human-centric technology company powered by the world’s leading commercial weight management program. As a global wellness company, we inspire millions of people to adopt healthy habits for real life. Through our comprehensive digital app, expert Coaches and engaging experiences, members follow our proven, sustainable, science-based program focused on food, activity, mindset and sleep. Leveraging nearly six decades of expertise in nutritional and behavioral change science, providing real human connection and building inspired communities, our purpose is to democratize and deliver holistic wellness for all. To learn more about the WW approach to healthy living, please visit ww.com. For more information about our global business, visit our corporate website at corporate.ww.com. For more information, contact:Kelsey Merkel, WWmedia@ww.com1 “How Nature Deprived Neighborhood’s Impact The Health of People of Color”; July 29, 2020; Accessed January 15, 20212 “The COVID 19 Crisis Continues to Have Uneven Economic Impact By Race and Ethnicity”: July 1, 20203 “What Does Philanthropy Need To Ask to Deepen Investments For Racial and Gender Justice”, : accessed January 15, 2021
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