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The Latest Breaking News from Fortune

I pitched Xbox to Microsoft–and got laughed off. Here’s how the hit console that revolutionized gaming came to be

During its initial conception, Xbox was not a widely supported initiative within Microsoft.

Fortune

Texas commercial real estate mogul Ross Perot Jr. says a CRE recession looks likely: ‘It’ll be years before we really understand the damage the pandemic did to the world’

“If the banks are this risk-off, and they’re not making real estate loans, the real estate industry will stop,” says Perot.

Fortune

Google takes millions from pro-life groups masquerading as abortion clinics in deceptive ads, study finds

A Google spokesperson said the company “removes or blocks ads” that violate its policies, and it has "reviewed" some of those named in a scathing new report.

Fortune

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Cava’s blockbuster IPO has an unlikely winner: The former CEO of Panera whose stake is now worth about $535 million

Cava’s executive team—including the CEO, CFO, and chief concept officer—also have stakes now worth millions.

Fortune

AT&T’s office mandates could be a covert way of trimming headcount

AT&T is yanking thousands back to the office. Some of its workers think that has nothing to do with productivity.

Fortune

Why we can’t let nuclear energy become the next supply chain crisis

Nuclear power is the lynchpin of the clean energy transition–but the supply chain for Uranium is particularly vulnerable to ongoing geopolitical tensions.

Fortune

Sony, Universal, and 15 other music publishers are suing Twitter for stealing their content, and using Elon Musk’s own words against him. He’s called copyright a ‘plague on humanity’

Twitter could owe the publishers over $250 million because more than 1,000 songs are on the platform in violation of the law.

Fortune

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Bitcoin dips below $25,000 as Fed takes hawkish tone after pausing interest rate hikes

The broader crypto market followed suit, as the total market capitalization for all cryptocurrencies dropped about 4%.

Fortune

CEOs may not realize it, but they already know what to do about A.I.

Yes, we need data scientists and machine learning experts. But it’s time to enhance the data and A.I. literacy of our entire workforce.

Fortune

Block to open public beta of self-custody wallet and integrate it with Coinbase and Cash App

Bitkey is part of the payments firm’s larger bet on the staying power of Bitcoin and Web3.

Fortune

Elon Musk’s new 14-year-old recruit may be good enough for SpaceX but he’s no longer allowed a LinkedIn account

“This is the illogical, primitive nonsense that I face constantly,” the teen prodigy said.

Fortune

Railroad critics don’t see the full picture–and how much safer rail is becoming

At the end of the current contract, the average total compensation for a rail employee will be $160,000, according to the Association of American Railroads.

Fortune

Loneliness is a public health crisis, comparable to smoking up to 15 cigarettes a day

The mental and physical health consequences of loneliness are grave.

Fortune

Jerome Powell admits that some banks are in trouble with their commercial real estate holdings: 'We do expect that there will be losses'

“There will be banks that have concentrations, and those banks will experience larger losses,” Powell told reporters on Wednesday.

Fortune

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Fortune

Quiet quitting is a nearly $9 trillion suck on the global economy, Gallup estimates

Last year, quiet quitting became a big workplace trend—now we know what it's costing the global economy and it's big.

Fortune

Gary Gensler's crypto playbook: Steal the spotlight from Congress, and shine it on the SEC

The SEC chair has counterprogrammed Congressional hearings at least six times just in 2023. Is that wrong or just part of the game?

Fortune

Bosses are fed up with remote work for 4 main reasons. Some of them are undeniable

The data showing that remote workers spend fewer hours working, less productively, is really starting to add up.

Fortune

Companies are spending big money to cover up bullying and discrimination in the workplace–it’s time for shareholders to know exactly how much

Corporations end up spending millions on legal fees rather than devoting energy to fixing the more endemic issues. Is this a good use of company funds?

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Fortune

A professor started tracking ‘Fortune 500 CEO colleges’ 20 years ago, and ‘the results were stunning.’ They haven’t stopped surprising him since

“Like everyone else,” David Kang assumed the Ivy Leagues would dominate, “but the largest place they had gone was to no college at all.”

Fortune

Treat culture: Millennials and Gen Zers are rebelling against the rough economy with little purchases that keep the malaise at bay

Late-stage capitalism has the youth spending on the smallest pleasures. "It's almost like your Sisyphean existential rebellion via artisanal ginger ale."

Fortune

Bari Weiss, Joe Lonsdale, and Niall Ferguson have dreams of building a free speech school in Texas. Emails from a regulator reveal they aren’t authorized to call it a ‘college’

Aggressive timelines and initial missteps could throw a wrench in plans for the University of Austin.

Fortune

Military spouses are the first casualties of licensing red tape as they stop practicing the professions that society desperately needs

The most common career fields for military spouses are education and healthcare, which often require state-issued licenses.

Fortune

Working mom’s email signature response to a ‘snippy’ message perfectly captured the reality for moms across America

"It just struck a chord, laying it out there and saying, listen, I'm not going to be on my game all summer.”

Fortune

AI translation may be an easy way for creators multiply earnings

This allows them to expand ad revenue sharing income across nations.

Fortune

Vivek Ramaswamy is threatening GOP heavyweights in the polls–but his business record doesn't live up to the hype

Yale's Sonnenfeld and Tian retrace presidential hopeful Vivek Ramaswamy's business record.

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