Newsletters
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84% of S&P 500 companies have beaten earnings estimates this quarter—and these two words keep coming up
Good morning. Corporate earnings are coming in stronger than expected, but S&P 500 executives are still choosing their words carefully. We’re about two-thirds of the way through Q1 earnings season, and several themes are emerging from earnings calls, from AI and revenue beats to geopolitical risk and oil prices. FactSet has released its latest update,…
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Sequoia-backed Astrocade raises $56 million to let everyone build games
I’ve been playing this online dinosaur game called Apex Predator. It works much as you’d expect: You start off as a small, feathery compsognathus, and work your way up to velociraptor status (and beyond) by, well, being the apex predator. I know it sounds gruesome, but it actually evokes “Pacman with dinosaurs” and is even…
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A jittery CEO crowd at Milken looks abroad for growth—and answers
In today’s CEO Daily: Diane Brady takes the temperature at Milken. The big leadership story: GameStop CEO Ryan Cohen’s bid for eBay would upend its nascent turnaround. The markets: Mixed as investors digest new developments in the Iran conflict. Plus: All the news and watercooler chat from Fortune. Good morning from the Milken Institute Global…
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Nearly 4 in 10 job candidates have bailed on a hiring round because it required an AI interview
Good morning! Workers are worried about AI taking their jobs—and it turns out they hate it when AI is involved in their screenings for roles, too. Now, virtual avatars and chatbots have made their way into interview rounds, and it’s triggering some candidates to drop out of the running altogether. Around 63% of U.S. job-seekers…
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The crypto industry is obsessed with conferences. The vibe at them is changing
The never-ending cycle of crypto conferences continues this week with the latest installment of Consensus getting underway in Miami. You can argue the industry would be better off if its biggest players spent more time building and shipping than palavering on stage, but, if nothing else, the conference scene is useful as a vibe check.…
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VC firm Ethereal has avoided the spotlight for 5 years—now it’s telling its story
Good morning, Jeff John Roberts here. Happy Star Wars Day to those who celebrate. The venture capital crowd, in my experience, is not shy when it comes to telling their story to the media. So it was a surprise to encounter Ethereal Ventures, a firm that has been around since 2021, but has chosen to…
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Spirit Airlines’ shutdown is a case study in what happens when a turnaround plan breaks
Good morning. After 34 years in operation, Spirit Airlines is shutting down. Its parent company, Spirit Aviation Holdings, announced Saturday that it had begun an orderly wind-down and canceled all flights. The company said the decision followed unsuccessful efforts to restructure the business, raise capital, and pursue transactions that could strengthen its financial position. It…
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How Twilio CEO Khozema Shipchandler is turning the company around and beating SaaSpocalypse fears
In today’s CEO Daily: Twilio’s CEO on how he brought the company out of a ‘time of real peril’ The big leadership story: Why the U.S. cares about Panama, Gibraltar, and Malacca The markets: A stellar day on the markets as semiconductor and AI stocks surge Plus: All the news and watercooler chat from Fortune.…
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The fruit fly cancer researcher who built his first prototype out of lollipop sticks and straws
By the time most of us notice fruit flies, something’s rotting. Or perhaps those fruit flies are crowding a fermenting sourdough starter, or swarming a banana that’s about to become an unwanted mush pile. But, for biomedical scientist Caíque Costa, fruit flies aren’t meant to be swatted—when studied, they’re where cancer breakthroughs may begin. “When…
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Brian Niccol’s nascent Starbucks turnaround starts with treating workers better
In today’s CEO Daily: Fortune‘s Phil Wahba reports on the factors behind Starbucks’ budding revival. The big leadership story: Mohamed El-Erian raises recession worries. The markets: U.S. future are up after the S&P 500 hit another record high. Plus: All the news and watercooler chat from Fortune. Good morning. This week brought convincing proof that…