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FortuneFortune

Fortune August 2019

FORTUNE covers the entire field of business, including specific companies and business trends, tech innovation prominent business leaders, and new ideas shaping the global marketplace. FORTUNE is particularly well known for its exceptionally reliable annual rankings of companies. FORTUNE furthers understanding of the economy, provides implementable business strategy, and gives you the practical knowledge you need to maximize your own success.

Land:
United States
Taal:
English
Uitgever:
Meredith Corporation
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20 Edities

IN DEZE EDITIE

access_time3 min.
sitting on a lead

ANYONE WHO HAS TURNED ON THE TELEVISION in the past few years has probably heard of Humira. Ads for this injectable drug, which treats several forms of arthritis, psoriasis, ulcerative colitis, and more, aired 46,526 times from Jan. 1 through July 15, according to iSpot.tv, which tracks national ad campaigns. Humira’s maker, the pharmaceutical company AbbVie (No. 381 on this year’s Global 500 list), spent nearly $490 million last year to market the medicine—a larger ad buy than any other drugmaker by far, as Fortune’s Sy Mukherjee reports in this issue (please see “Protect at All Costs,” on page 68). That’s because Humira isn’t just the bestselling drug in the world—with nearly $20 billion in global sales last year—it’s also arguably the very core of AbbVie itself, accounting for more than…

access_time4 min.
the corporate fortress

ATTEND ANY cybersecurity confab, and you’ll encounter some version of the following refrain. “There are two types of companies in this world: those that have been hacked and those that don’t yet know they’ve been hacked.” The phrase that launched a thousand quips was coined by Dmitri Alperovitch, a Moscow-born entrepreneur and one of the world’s foremost hacker-sleuths. In 2011, as head threat researcher at antivirus pioneer McAfee, he created the classification while investigating—and publicly revealing—half a decade’s worth of (likely Chinese) cyberattacks on more than 70 organizations, including defense contractors, tech companies, and the United Nations. Now the huff of resignation is due for an update. “I’ve since modified that phrase,” Alperovitch tells Fortune. “The first two companies still exist, but now there’s a third type that’s able to successfully defend…

access_time1 min.
analytics: seeing trends in the data

A RECORD-BREAKING ECONOMIC EXPANSION Remember June 2009? Bernie Madoff was sentenced to 150 years in prison for the largest Ponzi scheme in world history. President Barack Obama was six months into his first term. And the U.S. economy showed signs of life just 10 months after the collapse of Lehman Brothers. Since then, the economy has been on an unprecedented winning streak and, in July, surpassed the 120 months of economic growth during the Clinton years. How long will it continue? Fortune 500 CEOs are cautious. Per our 2019 survey, 46% believe the next recession is just one to two years away. OLD WORLD ABANDONS NUCLEAR ENERGE AS ASIA DOUBLES DOWN Nuclear power—once the promise of unlimited, clean energy—has fallen out of favor in the West. America’s 98 aging nuclear reactors make up…

access_time2 min.
undermining china’s monopoly

CHINA HAS A STRANGLEHOLD on the world’s supply of rare-earth metals—elements vital to every aspect of modern technology from display screens to antimissile systems. But the U.S. has an abundance of rare-earth deposits too—stockpiled in junkyards and landfills waiting to be recycled. Texas-based startup Urban Mining Co. (UMC) is doing that job. When trade negotiations between Washington and Beijing broke down in May, China’s President, Xi Jinping, took a publicized tour of a rare-earth magnet factory, sending a veiled threat to the U.S. According to Washington-based lobbyist Jeff Green, Xi’s threat caught the attention of “literally the highest levels of the U.S. government.” The U.S. had actually been on the lookout for ways to shift its supply of rare earths from China since 2010, when Beijing last played the rare-earth card. One…

access_time2 min.
stockx: a billion-dollar sneaker empire

STOCKX, THE COMPANY styling itself as the “Stock Market of Things,” is worth $1 billion after its latest Series C round, which closed in July. Now that it’s a “unicorn,” with a total of $160 million raised, the company has investors in New Balance and Skechers alike scratching their heads, wondering “What is StockX?” Cofounded in 2015 by Josh Luber and Quicken Loans billionaire Dan Gilbert, StockX has fully appropriated Wall Street lingo to resell sneakers, streetwear, handbags, and wristwatches. Buyers place “bids” on specific items, sellers set “ask” prices, and historical highs and lows are shown in 52-week increments. Purchases are automatically triggered when a “bid” and “ask” are aligned for a specific product. StockX serves as a clearinghouse, with inspectors on staff to verify the authenticity of the item. But…

access_time2 min.
the idiot box gets a little too smart

TO THE DELIGHT of binge-watchers everywhere, it’s no longer prohibitively expensive to purchase a giant television. And those devices are also getting smarter, with features like voice commands, personalized recommendations, and built-in apps for Netflix and other streaming services. It’s almost impossible to buy a TV without them. The average consumer might ascribe the declining price to a variant of Moore’s law. But this isn’t entirely true. “Right now, you’re paying with your data, but you don’t know the price,” says Casey Oppenheim, CEO of Disconnect, a privacy-focused software company. While most consumers now know the game when they use Facebook (keep in touch with old classmates in exchange for your data) or a smart home assistant (check the weather hands-free in exchange for your data), the exchange is not so transparent with…

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