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From the Editor's Desk

Ranking the Biggest Single-Day Stock Swings of All Time

One company dominates this ranking of the biggest single-day stock swings by market capitalization in U.S. history.

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Martin Casado of Andreessen Horowitz will be at Disrupt 2024 | TechCrunch
We’re out-of-this-world excited to announce that we’ve finalized our dedicated Space Stage at TechCrunch Disrupt 2024. It joins Fintech, SaaS and AI as the other industry-focused stages — all under…


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Boeing workers are set to strike -- and it could cost the company billions - Business Insider (No paywall)
More than 30,000 factory workers are poised to walk out starting Friday morning after the International Association of Machinists and Aerospace Workers (IAM) overwhelmingly voted to reject a tentative labor agreement with Boeing, and to go on strike in pursuit of a better deal.






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To pop or not to pop: the smart way to invest in AI without worrying about the bubble - Business Insider (No paywall)
It's also common to draw parallels between the dot-com bubble and today's hype, leading investors to wonder if there's an AI bubble that's about to pop, too. Goldman Sachs' big AI headline of the month is "To buy, or not to buy, that is the question." The note from September 5, led by Peter Oppenheimer, suggests the answer is "to buy" but also to diversify.


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Mark Cuban says he doesn't hate Donald Trump, he just thinks the man was and will be a 'lousy president' - Business Insider (No paywall)
The "Shark Tank" star has been a vocal critic of the Republican nominee's candidacy and policies. This includes Trump's planned tariffs on US imports, which Cuban has said will burden businesses.




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Berkshire Hathaway's stock is so rich even Berkshire is buying less of it - WSJ (No paywall)
The powerful rally that lifted the Omaha, Neb., company’s market value above the trillion-dollar threshold has some investors and analysts thinking its shares look a little pricey. Their concern might be shared by someone who ought to know: the legendary stock picker himself.


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Vodafone's UK merger with Three raises competition concerns, regulator says - WSJ (No paywall)
Vodafone Group’s deal to merge its U.K. business with rival operator Three raises competition concerns, the U.K.’s antitrust authority said, creating uncertainty on a deal poised to shake up the country’s telecommunications market.




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Breaking Down OnlyFans' Stunning Economics -- MatthewBall.co
Though a private company, Fenix International (“OnlyFans”) is a UK company and therefore required to publicly disclose certain information pertaining to its business and operations. And while these disclosures are limited, they reveal enough about the OnlyFan’s revenues, profits, scale, defensibility, reach, and impact to say that it is probably the most successful UK company founded since DeepMind in 2010, and the most significant media platform founded since TikTok (via Musical.ly in 2014), and dedicated creator economy platform… ever


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Novel Architecture Makes Neural Networks More Understandable | Quanta Magazine
“Neural networks are currently the most powerful tools in artificial intelligence,” said Sebastian Wetzel, a researcher at the Perimeter Institute for Theoretical Physics. “When we scale them up to larger data sets, nothing can compete.”




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Music industry's 1990s hard drives, like all HDDs, are dying
One of the things enterprise storage and destruction company Iron Mountain does is handle the archiving of the media industry's vaults. What it has been seeing lately should be a wake-up call: roughly one-fifth of the hard disk drives dating to the 1990s it was sent are entirely unreadable.


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PwC US unit laying off 1,800 employees, plans restructuring of products business - WSJ (No paywall)
PricewaterhouseCoopers ’s U.S. unit is laying off about 1,800 workers, its first formal layoffs since 2009, and restructuring its technology group as the firm faces slowing demand for some of its advisory business.




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Top Jeep dealers blame CEO for 'disastrous choices' - WSJ (No paywall)
Influential Jeep and Ram dealers are pushing their parent company to take more-drastic action to reverse steep market-share losses, adding to pressure on management to reinvigorate sales in the U.S.


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Young Wall Street casts doubt on efforts to rein in 100-hour workweeks. 'Nothing is going to change.' - Business Insider (No paywall)
Two of Wall Street's biggest banks are adopting new policies to mitigate overwork and burnout for their junior investment bankers. Industry insiders say it's a hopeful start to addressing long-standing issues — but they also worry the measures won't lead to significant change.




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Greg Abbott says Texas border is solved--is he right?
On August 27, Texas Governor Greg Abbott claimed the state's issue with migrants coming across the southern border from Mexico had been "solved" during an interview with NewsNation's Ali Bradley.


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Can the world stop a massive oil spill in the middle of a war zone?
Since it was attacked by Houthi rebels in Yemen three weeks ago, a tanker carrying roughly 1 million barrels of crude oil has been immobilized and on fire in the Red Sea. The MV Sounion is still intact, but may not be for long, and should it sink it could lead to one of the largest oil spills in history, nearly four times bigger than the Exxon Valdez disaster of 1989. This would have massive environmental and economic impacts on a region already beleaguered by war, and imperil the livelihoods and safe drinking water of millions of people. Efforts will likely soon be underway to salvage the vessel, but it’s a high-risk operation in an active conflict zone, and success is far from guaranteed.




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Squeaky-clean Europe is more corrupt than you think - The Economist (No paywall)
“IT WAS RETRO style,” laughs Ruta Kaziliunaite, the co-ordinator of Lithuania’s Special Investigation Service (STT), the country’s anti-corruption police. Last November the former leader of the Liberal Movement party was convicted of taking bribes from an executive at MG Baltic, a trading and real-estate conglomerate. It was not a matter of hidden transfers to shell companies, but of old-fashioned wads of cash: the STT found €242,000 ($269,000) stashed in the MP’s house and car. (Both men are appealing.)


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The once-dominant tank is getting humbled on the battlefield - WSJ (No paywall)
POKROVSK, Ukraine—Even as tanks help Ukraine push into Russia, armies are rethinking how the powerful vehicles are made and deployed after a recent history of being humbled in combat.




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CrowdStrike ex-employees: 'Quality control was not part of our process' | Semafor
Software engineers at the cybersecurity firm CrowdStrike complained about rushed deadlines, excessive workloads, and increasing technical problems to higher-ups for more than a year before a catastrophic failure of its software paralyzed airlines and knocked banking and other services offline for hours.


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The 'godmother of AI' just raised $230 million for her AI startup
Li joined the government’s Artificial Intelligence Safety and Security Board in April, where she and dozens of other industry leaders will advise the Department of Homeland Security on preventing harm while implementing AI in critical infrastructure such as the power grid and transportation.


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'Absolutely Scary': Simultaneous Fires Threaten SoCal Communities
WRIGHTWOOD, Calif. — Three major wildfires in Southern California’s mountains east of Los Angeles torched dozens of homes and forced thousands of people to evacuate, officials said Wednesday.


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These Italian Villages Will Pay You Up To $45,000 To Move There - Forbes (No paywall)
Italy is peppered with pretty, culture-rich villages that look idyllic in the eyes of visitors. But thousands of these communities are suffering from depopulation as inhabitants seek better economic opportunities in cities.


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The Mortal American Dream of Alberto Castaeda Aco
Once, long ago, he had been an amateur boxer in Mexico, dubbed “Campeon” by those who saw him spar professional fighters. But children came, three daughters, two sons, and the aspirations of a champion gave way to practicality.


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Who Is Laura Loomer, the Far-Right Activist Who Traveled With Trump?
Two days before she traveled with Mr. Trump to the debate, she wrote in a post on X that if Vice President Kamala Harris, whose mother was Indian American, won the election, the White House would “smell like curry.”


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Meeting With Biden, British Leader Hints at Ukraine Weapon Decision Soon
On Thursday, Mr. Putin responded to reports that America and its allies were considering such a move by declaring that it would “mean that NATO countries — the United States and European countries — are at war with Russia,” according to a report by the Kremlin.


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Biden Is No Longer Front and Center -- and It's Liberating to Him
On Tuesday night, while 67 million Americans watched Vice President Kamala Harris and former President Donald Trump debate on their television screens (and likely millions more on phones and tablets), Biden spent the evening in a hotel suite at the JW Marriott Essex House in New York City, just a one-minute drive from Trump Tower. Earlier, he had attended a birthday party for his granddaughter, Finnegan, at Campagnola, a restaurant that says it specializes in “country-style Italian dining.”


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The Debate Over Debates Is Over, at Least for Now
It’s also an inversion of the usual dynamics in which the candidate who struggled onstage, or is behind in the polls, demands a rematch. Ms. Harris was widely viewed as putting Mr. Trump on the defensive throughout their clash, baiting him with talk about people leaving his rallies and the inheritance he received from his father.


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Donald Trump Prepares to Unveil a Cryptocurrency Business
World Liberty Financial is Mr. Trump’s latest effort to ingratiate himself with the crypto industry. On the campaign trail, he has vowed to end a crackdown on the industry by the U.S. government, which has pushed for stricter regulations on digital currencies. In July, Mr. Trump spoke at the annual Bitcoin conference in Nashville, one of the largest crypto gatherings of the year, promising to make the United States “the crypto capital of the planet.”


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Europeans Used Cocaine Much Earlier Than Previously Thought, Study Finds
“We have evidence of coca leaves being used thousands of years ago,” said Christine VanPool, an anthropologist at the University of Missouri. No one knows exactly how or when coca reached Europeans. But Dr. VanPool believes that Spanish colonizers in South America may have been attracted to cocaine’s analgesic properties.


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Tiger Global plans to join OpenAI's funding round at more than $150 billion valuation
The group also talked about bringing the public and private sectors together to talk about AI's energy usage, data center capacity, semiconductor manufacturing and grid capacity, sources familiar with the meeting told CNBC.


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Britain Is Prodding Biden to Allow Kyiv to Strike in Russia
American and European officials insist that Ukraine’s efforts to expand its gains on the battlefield — including by using NATO-provided missiles — could encourage Putin to seriously engage in peace negotiations.


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Redefining American Style
Designers are putting their positions, not their hearts, on their sleeves, and it is happening not on the fringes but in the labels that seem increasingly core to the identity of New York fashion itself. And they are showcasing their statements in the monuments of the establishment — not just at 30 Rock but on Wall Street, courtesy of Willy Chavarria and City Hall, thanks to Who Decides War, which held its show almost next door.


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EU complaint urges action on confusing in-game currencies
The use of premium currencies purchased with real money has been controversial, especially around young players. In 2022, Epic was hit by a record FTC fine, in part for making it possible for children to purchase Fortnite's V-Bucks in-game currency without parental consent until 2018. The regulator said that Epic ignored more than a million user complaints and employee concerns over wrongful charges.


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Briton and Americans among 37 given death sentence over DRC coup attempt
A spokesperson for the UK’s Foreign, Commonwealth and Development Office said: “We are providing consular assistance to a British man detained in DRC and are in contact with the local authorities. “We have made representations about the use of the death penalty to the DRC at the highest levels, and we will continue to do so.”


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Keir Starmer meets with Joe Biden at White House as Putin warns Nato against letting Ukraine send long-range missiles ? as it happened
Russia's weaponization of disinformation to subvert and polarize free and open societies extends to every part of the world. In response, today, the United States, United Kingdom and Canada are launching a joint diplomatic campaign to rally allies and partners around the world to join us in addressing the threat posed by RT and other machinery of Russian disinformation and covert influence."


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Blinken accuses RT of being worldwide Kremlin intelligence network
As a result of RT’s efforts to “weaponise disinformation”, Blinken said, the US, UK and Canada would launch a “joint diplomatic campaign … to rally allies and partners around the world to join us in addressing the threat posed by RT and other machinery of Russian disinformation and covert influence”.


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Trump repeats false claims about Ohio cities after Biden says 'no place in America' for attacks on Haitian immigrants ? as it happened
Trump vows ?large deportations? from Ohio town if elected; Biden condemned attacks made by Trump and Vance about Haitian immigrants


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Fintech Bolt is buying out the investor suing over Ryan Breslow's $30M loan | TechCrunch
We’re out-of-this-world excited to announce that we’ve finalized our dedicated Space Stage at TechCrunch Disrupt 2024. It joins Fintech, SaaS and AI as the other industry-focused stages — all under…


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Dave and Varo Bank execs are coming to TechCrunch Disrupt 2024 | TechCrunch
We’re out-of-this-world excited to announce that we’ve finalized our dedicated Space Stage at TechCrunch Disrupt 2024. It joins Fintech, SaaS and AI as the other industry-focused stages — all under…


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Some startups and investors are more risk-averse than others | TechCrunch
We’re out-of-this-world excited to announce that we’ve finalized our dedicated Space Stage at TechCrunch Disrupt 2024. It joins Fintech, SaaS and AI as the other industry-focused stages — all under…


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Y Combinator expanding to four cohorts a year in 2025 | TechCrunch
We’re out-of-this-world excited to announce that we’ve finalized our dedicated Space Stage at TechCrunch Disrupt 2024. It joins Fintech, SaaS and AI as the other industry-focused stages — all under…


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AI's tween years, who's taking over climate tech, and the latest for Fearless Fund
Subscribe to us on Apple Podcasts, Overcast, Spotify, and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes over at Simplecast.


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Vanta's Christina Cacioppo takes the stage at Disrupt 2024 | TechCrunch
We’re out-of-this-world excited to announce that we’ve finalized our dedicated Space Stage at TechCrunch Disrupt 2024. It joins Fintech, SaaS and AI as the other industry-focused stages — all under…


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Dave Ramsey's Bold Housing Predictions: 3 Blunt Forecasts That Could Shake Up Your Next Home-Buying Move - Will You Be Ready?
Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US. Investing in its booming real estate market has never been more accessible.


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Delaware bankruptcy court says Yellow owes pensions, stock drops 90%
He also upheld an agreement inked between Yellow and Teamsters funds in New York and Western Pennsylvania. Yellow reentered those funds in 2013 under a deal in which it would contribute just 25% of the usual rate, but it would repay any withdrawal liabilities assuming a 100% contribution rate if it withdrew.


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Read Putin's Warning to NATO on Ukraine's Use of Long-Range Weapons
President Putin: What we are seeing is an attempt to substitute notions. Because this is not a question of whether the Kyiv regime is allowed or not allowed to strike targets on Russian territory. It is already carrying out strikes using unmanned aerial vehicles and other means. But using Western-made long-range precision weapons is a completely different story.


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Earlier Investigation of School Shooting Suspect Ended Too Soon, Experts Say
“If I had subpoena power, which law enforcement officers do, with a very high degree of confidence I would be able to identify who the author of those threats was,” said Paul Raffile, a cyber-intelligence analyst who has collaborated with law enforcement agencies on investigating sexual extortion cases and other internet scams.


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No Criminal Charges Expected in Aftermath of Maui Wildfire
Residents on the hillside more than a mile above the town’s waterfront reported seeing fire emerge next to a downed power line in the morning and start to spread in the same area in the afternoon, but the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives has yet to release a final determination.


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Kamala Harris talks assault-weapons ban and tax relief in Pennsylvania stop
Harris also paid a visit to cafe and bookshop Classic Elements, where she told reporters: “I am feeling very good about Pennsylvania, because there are a lot of people in Pennsylvania who deserve to be seen and heard.”


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California Drug Clinic Operator Convicted in $3 Million Kickback Scheme
Treatment facility operators may pay a group like a marketer or advertiser to promote their services to patients. But the Eliminating Kickbacks in Recovery Act of 2018 prevents the operators from paying body brokers kickbacks based on how much revenue the patients they referred brought in, as Mr. Mahoney did, according to the indictment.


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Sentence for Paramedic Convicted in Elijah McClain's Death Reduced to Probation
“After considering the evidence, a statewide grand jury indicted Cichuniec, and a jury of his peers found him guilty of his criminal acts that led to the death of Elijah McClain,” the Colorado Attorney General’s Office said in a statement. “We are disappointed the court reduced his sentence today, but we respect the court’s decision.”


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Trump Pledges to Start Migrant Deportations in Ohio and Colorado
Since the debate, Springfield has been at the center of a maelstrom. This week, bomb threats have led to the evacuation of city hall and multiple schools. But Mr. Trump on Friday dismissed the danger that his rhetoric might be posing to the city’s residents. “No, no,” he said. “The real threat is what’s happening at our border.”




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