Tag: cofounders

Twitter resurfaces Costco co-founder’s alleged threat over food deal: ‘Absolutely losing my mind’

A resurfaced interaction between Costco’s co-founder and CEO has sent Twitter into hysterics and turned the co-founder into an icon.

According to a Mental Floss article from 2018, current Costco president and CEO W. Craig Jelinek was in a meeting and complaining to Costco co-founder Jim Sinegal about how the company was losing money from sticking with Costco’s legendary quarter-pound hot dog and 20-ounce soda special.

As any real Costco enthusiast knows, the store’s deals aren’t limited to just the shopping aisles — the meal costs only $1.50. Costco hasn’t changed the price of the combo since 1984, when it was first introduced.

“I came to [Sinegal] once and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends,’” Jelinek said during a speech at the Issaquah Chamber of Commerce’s luncheon in 2018. “He said, ‘If you raise the effing hot

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Aspire Technology to Host First Telegram AMA with Co-Founders Jim Blasko and Michael Terpin

Bloomberg

What Investors With $3.4 Trillion Are Buying During Covid

(Bloomberg) — Hotels, pipelines, convenience stores and automaker bonds are among the assets being bought by some of the world’s biggest asset managers as they look for value in a world thrown into turmoil by the coronavirus pandemic.In interviews with sovereign wealth funds, pension firms and asset managers across Asia and Europe that collectively manage about $3.4 trillion, one thing was clear: many of them are avoiding the overheated stock market.The most common outlook was one of caution. They are mindful that much of the rebound in markets and private-company valuations is thanks to ultra-low interest rates, massive central bank stimulus and government fiscal support, some of which could start to be wound back in coming months.With asset values still seen as inflated, even in some hot areas like healthcare and technology, many are waiting for a potential second downturn

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Tesla Cofounder’s Battery Recycling Startup Wins Investment From Amazon Climate Fund

Redwood Materials, a battery recycling startup created by Tesla’s
TSLA
former chief technology officer, is among the first companies to win investment from Amazon’s
AMZN
$2 billion venture fund created to back companies with technology contributing to carbon reduction efforts. 

Amazon said its Climate Pledge Fund, launched in June, is focused on backing companies “building technologies, products and services that will help Amazon and other companies accelerate the path to net-zero carbon.” Neither the retail giant nor Redwood Materials disclosed how much the fund is putting into Redwood City, Nevada-based startup.

“To fight climate change, we need to solve the impact products have on the environment, Redwood cofounder and CEO JB Straubel said. “We’re honored to be part of the Amazon’s Climate Pledge Fund and to build the closed-loop supply chain that will recycle batteries, electronics and

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Bill Gates Sr., 1925-2020: Microsoft co-founder’s father made his own mark on Seattle and the world

Bill Gates Sr. in 2010. Photo via The Bill & Melinda Gates Foundation.

Bill Gates Sr., a respected lawyer, devoted civic leader, trusted mentor, and influential philanthropist who helped to shape Seattle’s tech industry even before his son co-founded Microsoft, died Monday of Alzheimer’s disease. He was 94.

“My father’s death is a tremendous loss for our family and the many people whose lives he touched. Dad lived a long and enormously meaningful life,” Bill Gates Jr. said in a statement issued by the Gates family.

“I never stopped learning from his wisdom, kindness, and humility. Melinda and I owe him a special debt because his commitment to serving the community and the world helped inspire our own philanthropy. Although he would be the last person to say it, my father’s compassion and generosity will live on in the foundation he helped build.”

“As I’ve said many times before, my

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