The Tiffany & Co. flagship store on 5th avenue alone generates as much revenue as all of Pinterest. So reports John Stoll in The Wall Street Journal. Such a piece of evidence should help everyone understand that the idea that brick and mortar stores are dead is a fallacy. Most shopping is still done face to face, and despite the rapid and impressive growth of e-commerce, many people still enjoy seeing the products they'll buy in person before purchase. Stoll explains how, instead of accepting defeat, Tiffany is revving up its New York flagship store with a $250 million investment. He … [Read more...]
Archives for September 2018
One Man’s Stand Against “Google Marxism”
Take a look back at this piece on what George Gilder calls "Google Marxism." Then go on to read my Gilder inspired series called "Cryptocosm and Life After Google." In The Wall Street Journal's Weekend Interview, Tunku Varadarajan interviews George Gilder, an investment author who made it big during the tech boom, but subsequently lost it all when his subscribers deserted him after the bubble popped. Gilder is concerned about the idea that artificial intelligence will replace humans, a concept he calls "Google Marxism." Varadarajan writes: Mr. Gilder is one of a dwindling breed of polymath … [Read more...]
As Tech Invests its Cash, Who Will Buy Bonds?
For years tech companies with vast overseas cash reserves have invested their wealth in the short-term debt of other corporations. But now that Apple and other companies are taking advantage of tax reform to bring home cash held abroad, the demand for that short-term corporate debt is drying up. Bloomberg's Molly Smith reports: Once the biggest buyers of short-dated corporate debt, Apple along with 20 other cash-rich companies including Microsoft Corp. and Oracle Corp. have turned into sellers. While they once bought $25 billion of debt per quarter, they’re now selling in $50 billion clips, … [Read more...]
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