Two companies that operate brands sold on Amazon, Suma and D1 Brands, said Tuesday that they had merged. It’s the latest sign of how slowing e-commerce growth is forcing Amazon aggregators to cut costs and consolidate. Bloomberg had reported earlier this month that Suma was in talks to buy D1 Brands in a distressed sale that would be structured as a merger, a characterization that a...
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Sequoia Capital’s U.S. Partners May Reap China Gains Even After Split
Sequoia Capital on Tuesday told investors that by the first quarter of next year it would fully separate its U.S. and China venture capital operations, ending an 18-year run during which Sequoia Capital China became China’s most successful VC firm and drove outsize returns for Sequoia’s global investors. But the separation, anticipated for years and related to a growing geopolitical...
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Adam D’Angelo’s Endless Quest to Answer Everything
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.