Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.
If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries.
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Burning money seems to be the end more than the means in the race for taxi-hailing supremacy in Southeast Asia.
Master of the universe.
One sentence from Grab Holdings Inc. co-founder Anthony Tan sums up the outlook for the dumpster fire that is Southeast Asia’s increasingly toxic taxi wars.
In a giddy press release Grab announced that it’s super-sizing its current funding round to $6.5 billion. Series H has already raised $4.5 billion, including $1.46 billion from Masayoshi Son’s SoftBank Vision Fund, and it plans to collect another $2 billion before the year is out.