Jeff Bezos' personal net worth nears the absurd, Time Inc. gets bought and Bitcoin blazes on. All that and more in The Daily Crunch for November 27, 2017. 1. Black Friday's biggest winner is Jeff Bezos Black Friday saw huge sales this year, and Amazon was a winner as per usual. Amazon's stock value rose tremendously at the same time, and the one who benefitted most from that was founder Jeff Bezos. Bezos gained $32.6 billion in value thanks to Amazon share price increases in 2017, with a boost from Black Friday that put his total net worth over $100 billion. That can buy you a lot of Black Friday Amazon Gold Box deals. 2. Meredith to buy Time Inc. Koch-brothers-backed Meredith will acquire Time Inc. in a deal worth $2.8 billion. Meredith says it's not going to let the Koch brothers have any editorial influence over Time's publications, but people are still rightly skeptical. 3. Bitcoin tops $9,000 Bitcoin's price only just hit over $8,000, but it's already past $9,000 and flirting with $10,000. That buys a lot of pizzas. 4. Tesla isn't a great business for money managers, but who cares? Tesla is frequently a target of short sellers looking to pump and dump the shares, which isn't a great look for Wall Street. But as Jon notes, it has a lot of other strengths that aren't captured by the yo-yo of financial markets. 5. OnePlus 5T improves on an affordable flagship OnePlus' second flagship smartphone this year is another solid option in the Android space, and the "best deal in smartphones", per Brian. Brian's actually wrong since it's the Essential Phone after its many discounts, but the OnePlus 5T does look like a solid second best deal. 6. Imgur hacked in 2014, leaking 1.7 million emails and passwords The nice thing about major data breaches is that we usually only find out about them well after it's too late to do anything about them as individual users. 7. A tale of woe at China's border The experience of one of our writers shows the changed nature of border crossings in China, where strict rules seems to be getting even more strict. |
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