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The Carolina Panthers may have scored a new owner in a record-breaking deal.
[The Hustle]( Wed, May 16
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Hedge fund manager extraordinaire David Tepper buys the Carolina Panthers for $2.2B
The New York Times reports that Jerry Richardson, founding owner of the Carolina Panthers football team, has agreed to [sell the Carolina Panthers]( billionaire hedge-fund owner David A. Tepper for at least $2.2B.
News of the sale came in December shortly after an [article]( in Sports Illustrated linked Richardson to allegations of sexual harassment -- and, with the terms set, the sale is currently on the goal line.
Now theyâre just waiting for the ball to hike, as the NFL owners vote whether to finalize the deal next week in Atlanta -- though, itâs not likely heâll get any pushback.
Adding a veteran to the rosterÂ
Tepper, 60, made his fortune as the founder of hedge fund Appaloosa Management, a company that holds nearly $17B in assets. In 2017, he ranked fifth on Forbes list of the worldâs richest hedge fund billionaires with a [net worth of $11B](.
And this isnât his first time on the turf -- Since 2009, heâs owned a 5% stake of the Pittsburgh Steelers, an investment he will have to sell to buy the Panthers.Â
The GOATÂ
Based on his client return rate, many consider Tepper the [greatest]( hedge fund manager of his generation, and turns out NFL owners think heâs pretty great as well.
According to NYT, Tepper actually offered several hundred million less than the highest bidder, but in dire need of a leader with strong integrity, the Panthers went well below the asking price to get the best man for the job.
Itâs still a hall of fame worthy deal, btw
If this deal happens, the [$2.2B]( pricetag will join the record books as the most expensive NFL franchise purchase ever, usurping the $1.4B Buffalo Bills sale in 2014.Â
Somewhere out there, an NFL owner is sitting in Don Shulaâs steakhouse drooling over the possibilities.
Check please!
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Facebook commits tons of resources to content review, but investors have moved onÂ
To extinguish the data-driven dumpster fire it ignited, Facebook hired 10k content moderators and approved a budget of over $770m for their âcommunity integrity team,â sources told [The Wall Street Journal](.
But as the âBook pulls security initiatives out of its sleeve, a transparency [report]( suggests the content problem is growing -- while Facebookâs [earnings]( suggests people are already over it.
Move fast and⦠fix things??
After weathering the barrage of twitter criticism following the Cambridge Analytica [storm]( captain Zuckerberg has focused on rebuilding the tech titanâs tarnished reputation.
So far, Facebookâs [overhauled]( its news feed, [removed]( 200+ apps, deleted [583m]( fake accounts, and [created]( programs to help Facebook fiends (especially young ones) understand how much data theyâre giving up.Â
The truth hurts⦠but only for a second
Zuck is learning that even a hoodie-wearing army with unlimited funding canât engineer a quick fix for this problem: Despite the companyâs massive efforts to combat them, hate speech and offensive content were on the rise, the [report]( shows.
Facebook AI sniffed out almost 100% of the spam posted on its platform (which was up [15%]( from the previous quarter), but detected less than 38% of hate speech (which increased [56%]( before it got to users.
But, lucky for Zucky, this didnât impact the bottom line that much after all -- Facebook gained back all of the [$134B]( it lost in value, and the number of monthly active users increased by 13% to 2.2B.
[Donât hate the player, hate the game](
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Thereâs no such thing as a free internet
At the end of 2017, New York-based company Intersection [raised $150m to expand its free internet]( kiosks from New York and London to cities across America like Pittsburgh, Chicago, and San Francisco.
If youâre wondering how a company whose business model includes the word âkioskâ makes money in this day in age, weâve got 2 words for you: targeted advertising.
Because straight-up data collection didnât go over so well
Back in 2014, [BuzzFeed outed the company]( for using beacons in hundreds of its NYC kiosks, which could be used to track users and serve them location-based ads. Mere hours later, the city ordered the company to remove the beacons.
Now, it has set its sights on digital advertising by using the kiosks as mini billboards with location-specific advertising (stands in Central Park target runners, while Wall Street stands might display fintech ads) -- and, of course, Wi-Fi hotspots to draw users in like moths to a flame.
There are a few limitationsâ¦Â
Namely, their reliance on kiosks. Intersection [CEO Ari Buchalter told Axios]( that the 2 biggest limitations are the need for âphysical infrastructureâ and a high volume of eyeballs.
But according to Buchalter, that doesnât mean Omaha, Nebraska, or other low population density cities are out of the running -- it just means Intersection has to figure out where the local hot spots are for people in each city, then set up shop.
[The bowling alley's gonna have great internet](
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Emptying its toy box to pay off creditors, Toys âRâ Us puts SexToysâRâUs.com up for sale
As it prepares to close all of its [735]( US stores forever, bankrupt Toys âRâ Us is selling off the contents of its toy box to pay off creditors.
So whatâs for sale, you ask? Well, the iconic mascot Geoffrey the Giraffe, the successful BabiesâRâUs.com, and, of course -- KinkyToysâRâUs.com.
Wut?! Toys âRâ Us had a secret sex-toy business?!?
No, you didnât just walk past the makinâ love section in Toys âRâ Us all those years... Instead, it bought the domains to prevent anyone else from using them.Â
Toys âRâ Us [owned]( domains ranging from BurgersâRâUs.com to CigarsâRâUs to prevent competitors from getting âRâich.Â
But domain defense isnât just about keeping competitors at bay -- itâs also about keeping trolls out of your gates.
Cyber-squatting sounds like a great way to take a digital dump...Â
But it actually doesnât take place in an online-outhouse. Cyber-squatters buy incriminating domains and then charge brands money not to use them.
So to prevent an âRâ-rated disaster, Toys âRâ Us swiped up several unflattering domains, [including]( SexToysâRâUs.com, F*ckToysâRâUs.com, IHateToysâRâUs, and ToysâRâUsSucks.com
While none of the domains are active now, the company really does hope to find buyers for at least some of the hundreds of domains -- meaning some could go live if an enterprising buyer revives them.
Which could be just the re-brand that Geoffrey was looking for all along...
[Fetishes âRâ Us](
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startup dictionary
Vaporware (noun)
1. A software product that is advertised/sold before it actually exists. 2. A fabrication used to upsell clients with future features that may or may not be in development. 3. Software snake oil.
Example: [Sales] So when will that new feature be ready? [Engineering] End of next year. [Sales] Whatâs that? Did you say âitâs already hereâ? Perfect! *picks up phone*
Pro tip: If you actually have a product when you start selling, youâve waited too long.
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