Sony Group said it is creating a new company called Sony Mobility with the aim of “exploring a commercial launch” of an electric vehicle. Sony Chairman and President Kenichiro Yoshida announced the move into EVs at a news conference ahead of the CES technology fair in the U.S. The company also released some details of a new virtual reality headset for its PlayStation 5 console. The company...
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The Coming Wave of Cram Downs

What do Good Eggs, a startup that delivers $4.99 broccoli bunches, and Tonal, a fitness startup that sells $3,995 exercise equipment, have in common—other than a business model subsidized by venture capital? They’re both engaged in a painful type of financing known as a “cram down.” If you grew up in the era of easy money, ultralow interest rates and 100 times multiples, it’s possible you’...
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