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Bloomberg Businessweek

Bloomberg Businessweek 3/20/2017

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Get the digital magazine subscription today and draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

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United States
Bloomberg Finance LP
50 Issues

in this issue

3 min
now on ebay: russian micro-multinationals

When Dmitrii Dvornikov first started selling jewelry and table clocks made from semiprecious Russian stones such as burgundy-colored eudialyte or lilaceous charoit, he had a hard time expanding beyond local industrial fairs and exhibitions. Then in 2013 Shungite.Club, his St. Petersburg-based company, began listing its wares on EBay, and the online marketplace soon turned the tiny outfit into a multinational of sorts. “In the second half of last year, EBay let us automatically show our goods in French, Italian, Spanish, German, and other languages, without separately registering in those countries,” says Dvornikov. The result: a sales boost of as much as 30 percent. “This became a sustainable business with stable revenue.” The big cross-border gains logged by sellers such as Dvornikov highlight the success of a strategy put in place by…

2 min
glenn kelman

A site for online real estate listings designed to make homebuying easier Education Interlake High School, Bellevue, Wash., class of 1989 “I played soccer and was chess team captain. I was determined not to go into business. I just thought it was the definition of evil.” University of California at Berkeley, class of 1993 “Everyone thought I would go to medical school. I got into Columbia and didn’t end up going.” Work Experience 1993–94 Unpublished novelist “You’re alone in a room all day, your girlfriend gets really tired of your novel, and then you’re broke and you hate yourself.” 1995–97 Product manager, Stanford Technology Group Inc. “We were just a handful of people, so I did product, marketing, sales, and worked with engineering. It was entrepreneur boot camp.” “I reapplied to medical school in 2005 and deferred to 2007. I’d been taking care…

4 min
for diabetics, the power of knowing

“ It’s elegant. It’s small. It’s unobtrusive. I wanted it” When Abbott Laboratories rolled out a device in Europe to help diabetics measure their glucose levels without having to prick a finger, it included a novel ask for patients: Would they allow the company to collect their data to help guide care? The company never imagined it would be sparking an information obsession. More than 50,000 people who used the FreeStyle Libre from 2014 to 2016 granted the company access, yielding 409 million data points. The results provide an unparalleled glimpse into the ebb and flow of testing in a group of people whose lives—and limbs—depend on their efforts. The Libre is a waterproof button the size of a quarter that sits on the outside of the upper arm. It houses a tiny…

2 min
a cooler wine cooler

WINE COOLER The Classic: Bartles & Jaymes The Upgrade: Ramona wine coolers, $19.99 for a four-pack of 250-milliliter cans; franklywines.com “For a lot of people in their 30s, wine coolers have legit emotional resonance,” says Jordan Salcito, beverage director at the Momofuku Group and Ramona’s creator. “That was the first time I thought, Oh, this alcohol thing is pretty tasty.” Made from organic zibibbo grapes (a Sicilian strain of muscat), natural grapefruit flavor, and cane sugar, Ramona’s first creation has the fizzy, subdued sweetness to complement a cookout. Also try: Garden Party Botanical hard sodas, whose whimsical floral messaging (debut flavors are violet and ruby) belies a serious punch: Their 8 percent alcohol by volume is about the same as an imperial India pale ale ($9.99 for a four-pack of 12-ounce cans; Target and…

1 min
real estate the most expensive building in nyc

The company owned by the family of Jared Kushner, President Donald Trump’s son-in-law and senior adviser, stands to receive more than $400 million from a prominent Chinese insurance company that’s considering investing in the Kushners’ marquee Manhattan office tower at 666 Fifth Ave. The proposed $4 billion transaction includes terms that some real estate experts consider unusually favorable for the Kushners. The partnership is seeking additional participants through a federal program known as EB-5, which is intended for economically distressed neighborhoods and provides visas to major foreign investors. $4b Total value of transaction $2.85b Total value of the building, making it the priciest ever sold in NYC $1.15b Debt refinanced $400m Payments from Anbang Insurance Group Co. to the Kushner family ; 666 FIFTH AVENUE: DANIEL ACKER/BLOOMBERG…

3 min
ahoy , citizens!

In 2008, PayPal co-founder Peter Thiel gave half a million dollars to a Google engineer named Patri Friedman, the grandson of economist Milton Friedman. The money was to establish the Seasteading Institute, which aims to spearhead the development of politically autonomous, floating “seasteads” in unregulated international waters. This was to be the beginning of a long experiment in civilization building. It also turned out to be the origin of many, many puns. Nearly a decade in, this experiment has yielded more theory than practice. Nevertheless, the institute has published a wildly optimistic book called Seasteading: How Floating Nations Will Restore the Environment, Enrich the Poor, Cure the Sick, and Liberate Humanity From Politicians. Written by staff “aquapreneur” Joe Quirk, with an assist from Friedman, Seasteading’s principal argument is that “the world…