Airbnb is paying an interest rate of 11% to 12% on the billion dollars in debt it raised this week from Silver Lake Partners and Sixth Street Partners, an extraordinarily high interest rate that shows the pressure the travel company was under to raise new funds. Airbnb also awarded the investors warrants, or the right to buy shares, at a $18 billion valuation, people familiar with the matter...
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The Real CNN Drama is Cable News' Growing Irrelevance
To paraphrase Tolstoy, each unhappy TV channel is unhappy in its own way. And as illustrated by the leadup to the Wednesday exit of CNN’s CEO, Chris Licht, the cable news channel hasn’t been a happy place lately. That’s not likely to change now that Licht is gone. Beyond the gossipy drama behind his departure is the reality that CNN and its corporate parent, Warner Bros. Discovery, are both...
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Adam D’Angelo is basking in an “ endless summer ” of artificial intelligence. A few weeks before he and 350 industry peers released a bizarre, one-line statement warning that AI could herald a nuclear-level extinction event, the 38-year-old co-founder of Quora told me he actually sees more upside in AI than downside.