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The internet’s favorite CEO resigns amid assault allegations

The internet’s favorite CEO resigns amid assault allegations

August 19, 2022Become smarter in just 5 minutesGet the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.Social media-famous CEO Dan Price resigned this week amid accusations that he assaulted multiple women.Price became the poster child for ethical corporate leadership in 2015 when he announced he was raising the minimum salary at his credit card processing company, Gravity Payments, to $70,000—and that he would cut his own $1 million salary down to that level to do it. He then made sure his social media accounts made that news pop up in...

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Why rich people are shopping at Walmart

Why rich people are shopping at Walmart

August 16, 2022Become smarter in just 5 minutesGet the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.When inflation spikes, even high rollers start to consider subbing out Patrón for Cuervo—and that’s good news for businesses selling cheaper goods.Walmart blew past analysts’ expectations when it reported its yesterday, with sales growing more than 8% thanks in part to attracting more high-income shoppers. On the grocery side, around 75% of Walmart’s market share gains last quarter came courtesy of customers from households earning...

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