Getty; Marianne Ayala/Insider Barry McCarthy became Peloton’s CEO this month, replacing John Foley amid months of company turmoil. In a New York Times interview on Saturday, McCarthy explained what went wrong at Peloton. “They spent money on things that they shouldn’t have,” he said. “They got caught up in the vision thing at the expense of getting real.” Barry McCarthy has a lot on his plate as Peloton’s new CEO. Peloton, a pandemic-era darling with a cult following, once boasted a valuation of… Source link

Being an Olympic athlete can lead to a lucrative career — if you’re able to leverage glory into sponsorships. “While the income of these athletes is paltry in comparison to even the league minimum of football, baseball, whatever, the percentage of their income that is incident to marketing and dependent upon public relations is dramatically higher,” Octagon’s Olympics and Action Sports Managing Director Peter Carlise told Yahoo Finance. “The only source of income for most Olympic… Source link

Berkshire Hathaway Vice Chairman Charlie Munger provided new perspective on how the role of local newspapers and traditional newsrooms are increasingly being replaced by untrustworthy voices. “We are going to miss these newspapers terribly,” Munger said at the Daily Journal’s annual shareholders meeting on Wednesday. “Each newspaper… was an independent bastion of power. The economic position was so impregnable… and the ethos of a journalist was to try to tell it like it is. And they… Source link

If you think about smart-home gadgets at all, you probably think about energy-saving thermostats or lights you control with an app. Most people don’t worry about how they work, let alone how they might work together. Some of tech’s biggest players— Apple Inc., Alphabet Inc . ’s Google, Amazon . com Inc. and Samsung Electronics Co . —have established smart-home platforms, so your iPhone can turn off the lights or Alexa can change the thermostat without too… Source link

Facebook parent company Meta’s (FB) Menlo Park, California, headquarters features the world’s largest open floor plan. It’s a massive single room where employees, or Metamates as CEO Mark Zuckerberg now calls them, build the apps that billions of people use. But according to Facebook whistleblower Frances Haugen, it’s not practical. And that impracticality reflects Meta’s inability to notice its own blindspots, she says — especially when it comes to figuring out how to address… Source link

Facebook is angry at Apple, and it’s not surprising. The iPhone maker is going to cost the social network upwards of $10 billion due to the iOS 14 privacy features called App Tracking Transparency, Facebook said recently after announcing its financial results. That’s because Apple’s ATT iPhone privacy features cut back on tracking by revoking access to the identifier for advertisers (IDFA)—a unique code that shows when people are seeing an ad on Facebook, Googling it and… Source link

Team USA figure skaters Alexa Knierim and Brandon Frazier were hit with a lawsuit this week by a music group for their use of their version of “House of the Rising Sun” during the Winter Olympics in Beijing. The music group Heavy Young Heathens, which is made up of Robert and Aron Marderosian, sued the figure skating duo along with NBC and U.S. Figure Skating on Thursday for the use of the song during their short program routine in Beijing. The brothers claimed in the lawsuit, according to… Source link

It looks like one of high school basketball’s most followed athletes will be taking his talents to the college ranks. Hansel Enmanuel, a one-armed prep star who has taken social media by storm, announced Friday he has picked up a scholarship offer from Memphis. Enmanuel’s star has been on the rise since he started suiting up for Life Christian Academy, especially once he started posting scorelines like 31 points, 15 rebounds and four blocks last winter. As of Friday, he has over 2.4 million… Source link

Iskra Lawrence is a model, entrepreneur, and influencer with nearly 5 million followers on Instagram — but her journey to success was not always an easy one. “As someone who has always been an advocate for self love and self acceptance, it was very challenging [as a model] because I was met with a lot of barriers,” Lawrence told Yahoo Finance during a recent interview. She explained that she was rejected from mainstream agencies for being “too big” and plus-size agencies for being “too… Source link

As the labor market continues to improve and the Fed set to begin raising interest rates as early as this spring, inflation may be approaching its peak. Inflation rose 7.5% year-over-year in January as measured by the Bureau of Labor Statistics monthly inflation report, representing the highest inflation increase in 40 years. Though a multitude of factors contribute to the inflation the U.S. is currently experiencing, issues with the supply chain have been a significant contributor, says Eric… Source link