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Forbes November 30, 2019

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6 Issues

in this issue

2 min
reimagining capitalism

This issue marks our fourth go-round with the Just 100, a ranking of corporate citizenry based on what tens of thousands of Americans have said they expect from the largest corporations. It’s a massive undertaking, spearheaded by Just Capital, a nonprofit dedicated to ensuring that businesses deliver on behalf of all stakeholders—customers, employees, partners and the environment as well as the shareholders. More than simply important journalism, the Just 100 is part of a three-pronged approach to reimagining capitalism first alluded to in a cover essay in March. For 2020 we’re committed to delving deeper into all three. Corporate accountability: We’re working with Just Capital to expand the Just 100—digitally, in print and at live events—highlighting those that practice stakeholder capitalism and calling out those that erode American trust in free enterprise.…

6 min
with libra, zuck is a hero

MARK ZUCKERBERG TOOK a verbal beating over Libra (among other things), Facebook’s proposed cryptocurrency and payments system, when he recently testified before the U.S. House Financial Services Committee. Well aware of the low repute in which Facebook and other high-tech giants are held these days, most of the committee’s politicians couldn’t resist the temptation to scold and harangue Zuckerberg. Actually, issues such as privacy and money laundering are addressable. Facebook is already working with regulators on such concerns. Nonetheless, regulatory pressures have forced a number of companies that were partnering with Facebook on this project to drop out. And this gets to the real reason the idea of Libra is so troubling to so many politicians, government bureaucrats, banks and economists the world over: Libra could do to central banks what Uber…

2 min
restaurants: go, consider, stop

• Tri Dim Shanghai 1378 Third Ave., between 78th & 79th streets (Tel.: 212-585-3388) This authentic Shanghainese restaurant’s menu is extensive and clever and offers many dim sum dishes. Begin with delicious panseared dumplings, soup dumplings or steamed dumplings or a juicy Peking crispy duck roll. There are such classics as moo shu pork and General Tso’s chicken as well as a bespoke section from which you can design your own dish, choosing the vegetable, main ingredient and sauce. The menu has inventive dishes, such as Ants Climb on Tree (spicy minced beef stir-fried with glass noodles in garlic sauce). Fish lovers should try the Red Fire Cracker Prawns and Scallops tossed with asparagus and chili peppers. Service is welcoming. • Lamalo 11 East 31st St., Arlo NoMad Hotel (Tel.: 212-660-2112) Gadi Peleg’s latest foray…

2 min
nipsey’s never-ending hustle

It wasn’t Rodeo Drive. But rapper Nipsey Hussle could look around at the strip mall he’d purchased in South Los Angeles—home to Baba Leo’s Fish Shack, Steve’s Barbershop and a Boost Mobile—and fall into a rhapsody about the area’s potential. He earned his nom de hip-hop selling socks, T-shirts and other more illicit goods nearby. Now he had a vision for redeveloping the plaza and had started by opening his own clothing store, calling it The Marathon to emphasize his long-term outlook. “We want to create enterprise around the music,” the 33-year-old artist explained in February 2019, seated in one of the mall’s stores. “As passionate as I am for music, I… have equal passion for making sure that when the music stops, the thing keeps going.” Seven weeks later, Nipsey Hussle…

1 min
top-earning dead celebs

1. MICHAEL JACKSON $60 MILLION CAUSE OF DEATH: Overdose/homicide DIED: June 25, 2009 2. ELVIS PRESLEY $39 MILLION Heart attack August 16, 1977 3. CHARLES SCHULZ $38 MILLION Cancer February 12, 2000 4. ARNOLD PALMER $30 MILLION Heart disease September 25, 2016 5. BOB MARLEY $20 MILLION Cancer May 11, 1981 6. DR. SEUSS $19 MILLION Cancer September 24, 1991 7. JOHN LENNON $14 MILLION Homicide December 8, 1980 8. MARILYN MONROE $13 MILLION Overdose August 5, 1962 9. PRINCE $12 MILLION Overdose April 21, 2016 10. NIPSEY HUSSLE $11 MILLION Homicide March 31, 2019 11. XXXTENTACION $10 MILLION Homicide June 18, 2018 12. WHITNEY HOUSTON $9.5 MILLION Drowning February 11, 2012 13. GEORGE HARRISON $9 MILLION Cancer November 29, 2001 EDITED BY ZACK O’MALLEY GREENBURG; REPORTED BY KURT BADENHAUSEN, MADELINE BERG, HAYLEY CUCCINELLO AND ARIEL SHAPIRO. SOURCES: NIELSEN MUSIC; IMDB; INTERVIEWS WITH INDUSTRY INSIDERS. FIGURES REPRESENT ESTIMATED PRETAX INCOME FROM OCTOBER 1, 2018, THROUGH OCTOBER 1, 2019.…

1 min
tap for teacher

The son of teachers, Byju Raveendran realized he had a knack for education as an eighth-grade math whiz tutoring 11th- and 12th-graders ahead of their exams. Today, at 38, he (along with his family) is worth $1.9 billion, thanks to his fast-growing edtech company, Byju’s. The startup, which he founded in 2006 and which he says is profitable, raised $150 million earlier this year in a funding round that valued the business at $5.5 billion. Altogether, it has raised roughly $1 billion—more than any other edtech startup worldwide—from investors such as Mark Zuckerberg’s Chan Zuckerberg Initiative, U.S. venture firm Sequoia and China’s internet services giant Tencent. Byju’s already has 2.8 million paying K–12 students signed up for its math-and-science tutoring app; in June, it launched a cobranded app with Disney…