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Netflix co-founder Marc Randolph on how the data-hungry disruptor of television came to be - Dotemirates
2 month 1 week

Netflix co-founder Marc Randolph on how the data-hungry disruptor of television came to be

By music and pop culture reporter Paul Donoughue It was the late 1990s, and the DVD had just been invented.Marc Randolph, a Californian marketing executive in his 30s, had been brainstorming business ideas with his colleague Reed Hastings.There were a lot of bad ones, he said — as well as some, like personalised sporting goods, that didn't feel right but would end up being invented by other people down the track.But one idea had legs. Having seen what Amazon were doing selling books via the postal service, they thought they could do the same with movies, thanks to this new...


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29 minute 56 second

Kakadu plum plan aims to take a bite out of lucrative global medicine industry

By Matt Garrick Skin products and health drinks may soon be ripe with a quintessentially Northern Territory ingredient if a proposal to commercially harvest Kakadu plums gets off the ground.Traditional owners of Kakadu National Park are hoping to use their land to cultivate inroads into the traditional medicine market — an industry they have estimated to be worth up to $115 billion globally.The ambitious plan by the Gundjeihmi Aboriginal Corporation to wild harvest the plums — a small, green native food with proven health benefits due to its high levels of vitamin C — was released on Tuesday for comment."Traditional...
35 minute 47 second

Trump wants Fed to cut interest rates after stock-market wipeout, but history not on his side

After the latest stock-market drubbing, President Donald Trump said Tuesday he’d like the Federal Reserve to cut interest rates. But that may be wishful thinking. The U.S. is on track to grow 3% annually in 2018 for the first time in 13 years and the unemployment rate has fallen to a 48-year low of 3.7%. The Fed has cut rates a few times when gross domestic product appeared strong, albeit it briefly, but almost never when both growth was stable and unemployment low. There’s no example of the Fed doing since the end of World War II. Shortly before flying...
37 minute 53 second

Careem looks to raise up to $200 million in China

HONG KONG: Careem, Uber’s main Middle East rival, is looking at raising between $100 million and $200 million from Chinese investors, a source with direct knowledge of the matter told Reuters.Investment bank China International Capital Corporation (CICC) is advising Dubai-based Careem, but it was not immediately clear when or if a deal would be finalized, the source said, adding there was a lack of familiarity and interest among Chinese investors in Middle Eastern start-ups.Beijing-based CICC and Careem both declined to comment.Reuters reported on Monday that CICC and New York-based investment bank Jefferies were both advising Careem on potential investment options...

42 minute 21 second

Gulf ratings untarnished by growing GRE debt

LONDON: The sovereign ratings of Gulf countries remain unaffected for now by both the recent and planned debt-raising activities of government-related entities, according to S&P Global.The agency published a research note on Tuesday following investor concerns about the implications of significant amounts of debt being raised by government-backed entities such as investment funds and oil companies.Saudi Arabia’s Public Investment Fund (PIF) raised an $11 billion international syndicated loan in September this year, while in July, Saudi Aramco said it might consider acquiring a strategic stake in Saudi Basic Industries Corp. (Sabic) from PIF. This potential acquisition is likely to require...
47 minute 40 second

Toms Shoes' Blake Mycoskie on gun violence: "Someone has to do something"

Toms Shoes founder Blake Mycoskie wants Americans to visit his company's website, and not only to peruse the latest footwear. In an emotional appearance on Monday night's episode of the Tonight Show, the retail entrepreneur cited a shooting earlier this month in a California bar that killed 12 in announcing that his company would donate $5 million to groups working to end gun violence."Twelve days ago the shootings happened in Thousand Oaks, and my wife called me and she was scared, and she said, 'I'm not taking our son to school today,'" he said, noting other recent mass shootings while...
51 minute 30 second

Trump says he'd like to see lower interest rates as he says Fed is problem

President Donald Trump on Tuesday said he'd like to see lower interest rates from the Federal Reserve, in his latest criticism of the central bank's gradual tightening of monetary policy. Speaking to reporters as he left the White House for Florida, Trump said he saw more of a "Fed problem" than anything else on a day the Dow Jones Industrial Average DJIA, -2.21% and other stock indices dropped precipitously. The Fed is expected to hike interest rates next month and in 2019. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.