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The Forbes Daily Briefing shares the best of Forbes reporting on wealth, business, entrepreneurship, leadership and more. Tune in every day, seven days a week, to hear a new story. The Daily Briefing is edited, produced and hosted by Kieran Meadows.
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As he looks towards a possible 2025 IPO, CEO Chris Britt opens up about his own history and Chime’s current business and future. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Landfills are overflowing with plastic trash. Protein Evolution found a solution: using AI to create enzymes that can recycle old polyester textiles into a material that acts new. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Cross country moves, skyrocketing stocks and a new fast food billionaire shake up the ranks of the states’ richest. Find out who’s in and who’s out. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The impulsive billionaire calmed investors with plans for cheaper EVs that he previously backburnered. Then he muddled the story by cutting its fast-growing EV charging service team as he prioritizes an autonomous ride business that doesn’t appear close to being ready. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
With the DEA set to reclassify marijuana as a less dangerous drug, weed companies will finally get a break from a punitive federal tax rate—and cannabis stocks have already rallied. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Country Archer’s Eugene Kang grew up stocking shelves at his parents’ gas station convenience stores. Now he’s producing one of the fastest-growing better-for-you snack foods in America. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Chelsea Mandel and her firm Ascension Advisory are on a mission to help small business buyers borrow a $17 billion a year tactic from private equity’s playbook known as sales leasebacks. But finding the right deal is nearly impossible. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
With support from American Express’ longtime CEO Ken Chenault, the founder of fintech Bilt Rewards has become a billionaire creating a membership rewards program for house and apartment renters across the country. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Rhino Onward International—or ROI—launched in 2022 claiming that its cutting-edge tech would make it a major player in Green Hydrogen. Instead, investors claim the founders used their funds to collect luxury cars, pay off bills, and otherwise fuel their extravagant lifestyles. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Wes Edens has broken ground on Brightline West, his $12 billion Las Vegas-to-SoCal railway, aided by billions from the Biden Administration. But building more high-speed lines like this one won’t be easy. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The Biden administration says it wants a divestment of TikTok, not a ban, but the challenges of unbundling it from its China-based parent ByteDance could make it inevitable. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Venture investors like Andreessen Horowitz are swooning over the so-called “Gundo Bros,” who are building American hardware and software companies near LAX airport. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Inside Andrew Tan's $720 million eco-tourism project in the country’s pristine beachside paradise. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
With airlines getting 40% fewer new planes than scheduled, expect higher fares this summer and increased risk of delays and cancellations. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Under Nevada law, expenses get paid first and then debts like the civil judgment won by the families of Ron Goldman and Nicole Brown for their murders–all before heirs. Are there assets elsewhere? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
A fight over a vital federal tax credit intended to kickstart a market for clean hydrogen and worries over high production costs are cooling near-term expectations for the climate-friendly fuel. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
With federal legalization of pot indefinitely stalled, hemp products have bloomed into a $28 billion gray industry determined to get America high—legally. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Sensitive business information from advertisers like Amazon, Disney and the New York Times was widely available to ByteDance staff across the U.S. and China, Forbes has learned. TikTok, which is fighting a ban over its handling of data, declined to comment. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Throwing good money after bad and refusing to cut his losses with risky healthcare bets cost Jack Schuler most of his fortune—and left hundreds of underserved kids in the lurch. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Armed with more than $750 million in funding, Brett Adcock vows that Figure will become one of the most important businesses in the world. First, he has a lot of work to do. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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