Application programming interfaces — more commonly known as APIs — are at the heart of the most successful digital companies, powering everything from Amazon’s cloud business to Google ads to Facebook likes. APIs enable mobile experiences, connect companies on the web, and enable platform business models. The idea of an “API economy,” in which APIs create new value for companies, is over a decade old, and many established enterprises correctly view APIs as a key to unlocking their digital transformations. But it’s not just the digital giants that can benefit from APIs.
Still in the teeth of a deadly pandemic, the NBA’s San Antonio Spurs started the season on Dec. 23 with no protective bubble and vaccine availability still weeks away. Some 250 people assigned to work 36 home games needed assurance it was safe to work in the team’s one-million-square-foot AT&T Center.
“The staff was eager to return but wanted to know what they were returning to,” Casey Heverling, vice president and general manager of parent organization Spurs Sports & Entertainment, said of those in facility maintenance, security, event operations, cleaning, lighting, and food and beverage service.
No earnings? No problem. Investors are funneling money to unprofitable software companies through a new type of debt deal.
Nonbank lenders like Golub Capital, AllianceBernstein Holdings LP and Owl Rock Capital Partners LP have issued asset-backed bonds to help finance about $2 billion of loans to such companies since November, according to data from Kroll Bond Rating Agency Inc. and S&P Global Market Intelligence. Many of the loans are to fast-growing, but still unprofitable, software enterprises.
The rash of recent deals is the latest indicator that large investors have resumed their hunt for high-yielding debt to offset low interest rates
ARK Invest has only been around since 2014, but it is already developing a reputation as one of Wall Street’s best-performing asset managers. Headed by CEO Cathie Wood, the company offers various financial products, including exchange-traded funds (ETFs) built around innovative secular trends like autonomous technologies, next-generation internet, and genomics.
Over the last three years, the company’s flagship product — the ARK Innovation ETF(NYSEMKT:ARKK) — has skyrocketed in value by 200%, crushing the 52% return of the S&P 500 over the same period. Given Ark’s track record for picking winners, investors should note that Roku(NASDAQ:ROKU) and Square(NYSE:SQ)
If you’re going to work remotely, Próspera is a nice place to do it. Located on Roatán, a tropical island off the coast of Honduras, it features a series of airy offices and communal outdoor spaces with ocean views. There are other real estate developments on the island, but Próspera is the only one with its own set of laws and governing system.
Próspera is the first project to gain approval from Honduras to start a privately governed charter city, under a national program started in 2013. It has its own constitution
At least 20 finance and tech companies are already poised to leave for sunny, low-tax Florida, said Kathyrn Wylde, CEO of the business-backed Partnership for New York City.
“The Legislature’s proposals will move us in the opposite direction by driving away the businesses and tax base required to do that,” said powerful Real Estate Board of New York President James Whelan.
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