Category: Business & The Economy

This 30-year-old commutes 4 hours, and 140 miles, every day so he doesn’t have to pay $4,500-a-month San Francisco rent

He is not alone. This has been happening in other major cities (Toronto comes immediately to mind) for many years. And the situation is getting worst in many of the worlds business centers. Logically, this is not sustainable.

Most importantly, at some point, one must ask themselves what is truly important in their life.

It’s dark and cold. The alarm clock flashes 4:30 a.m. Danny Finlay drags himself out of bed and mentally prepares for the two-hour, 72-mile commute ahead of him. And that’s just the first half of his journey.

For almost a year, Finlay, 30, has been commuting to the San Francisco Bay Area from the rural town of Dixon, California, where he lives with his wife, Mireya. Previously, he traveled two hours to his job in Oakland. Now, he goes even further to get to his new job as an account executive at public relations firm SutherlandGold located in San Francisco.

Finlay’s usually in his car by 5:10, he tells CNBC Make It. There isn’t normally a lot of congestion that early, “but once I start to progress, maybe 20 miles in, traffic will start to hit because you’re getting into more populated towns as you get closer to the Bay.”

Read More at CNBC

Best countries in the world in 2018

U.S. News & World Report has released their annual “Best Countries” index.

They evaluated 80 countries and surveyed 21,000 people from four regions (the Americas, Asia, Europe, and the Middle East and Africa). Countries were graded 65 different ways, from how well they rank in “citizenship,” “cultural influence,” “education,” “heritage,” “power,” to “quality of life,” to name a few.

Interestingly, both the UK and the USA are down one position in this year’s rankings.

  1. Switzerland
  2. Canada
  3. Germany (up 1 from 2017)
  4. United Kingdom (down 1 from 2017)
  5. Japan
  6. Sweden
  7. Australia (up 1 from 2017)
  8. United States (down 1 from 2017)
  9. France
  10. Netherlands (up 1 from 2017)

More at US News & World Report

Most expensive cities for expats and foreign employees in 2018

According to Mercer’s Annual Cost of Living Survey:

  1. Hong Kong
  2. Tokyo
  3. Zurich
  4. Singapore
  5. Seoul
  6. Luanda
  7. Shanghai
  8. Ndjamena
  9. Beijing
  10. Bern

Goldman Sachs’ sophisticated model to predict World Cup results didn’t even come close

It had Brazil beating Germany in the final.

In the end France took home its second World Cup title on Sunday defeating Croatia 4-2 in the exciting final game.

Congratualations to les Bleus.

The average age of a successful startup founder is 45

Debunking the myth of the young founder.

Harvard Business Review

These averages hide a large amount of variation across industries. In software startups, the average age is 40, and younger founders aren’t uncommon. However, young people are less common in other industries such as oil and gas or biotechnology, where the average age is closer to 47.

Wealthy Canadians are hiding $240 billion overseas

The Canada Revenue Agency has figured out that wealthy Canadians are hiding up to $240 billion overseas and they are dodging up to $3 billion in taxes.

Remington, the oldest gun maker in the United States, files for bankruptcy protection

Remington, which has been around since 1816, makes the Bushmaster AR-15 rifle, the gun used in the Sandy Hook elementary school shooting in Connecticut in 2012 that killed 20 first-graders and six educators. The AR-15 is the gun used to kill 17 people at a Parkland, Fla., high school on Valentine’s Day. The AR-15 was developed as a weapon of war to kill as many people as quickly as possible. It’s the reason it’s the choice of many mass-shooters.

CNBC:

Remington Outdoors, which also owns gun manufacturers including Marlin and Bushmaster, says sales in 2017 were just over $600 million, down more than 30 percent from 2016.

New York Times subscription revenue surpassed $1 billion

Sydney Ember, NY Times:

The company said on Thursday that it added 157,000 net digital-only subscriptions in the fourth quarter of the year, pushing overall subscription revenue to more than $1 billion for the year. Subscription revenue now accounts for 60 percent of the company’s total revenue.

Buoyed by the growth in digital subscriptions, total revenue for the year increased 8 percent, to $1.7 billion, and 10 percent in the fourth quarter, to $484 million.

The Times Company had more than 2.6 million digital-only subscriptions, which include news, cooking and crossword products, at the end of 2017. Digital-only subscription revenue increased 46 percent last year, to $340 million, and 51 percent in the quarter, to $96 million. Subscription revenue for the year increased 15 percent. For the quarter, it rose 19 percent, to $269 million.

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