TikTok’s Chinese owner ByteDance is capping the amount of overtime employees can clock. Employees will need permission to work longer as China takes aim at its grueling work culture, which is nicknamed ‘996’ because employees work from 9 a.m. to 9 p.m., six days a week. Workers routinely stay until midnight. An internal memo said that ByteDance employees are now mandated to work only 10...
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DoorDash Should Buy Instacart Now
Instacart’s stock price performance so far brings to mind a variation on the old line about love: Is it better to have gone public and lost, or never to have gone public at all? The shares fell 9% on Monday to $26.96, 10% below its IPO price, following our scoop that the Wall Street analysts at the banks underwriting the offering are projecting a severe slowdown in Instacart’s growth in the...
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