May 10, 2022

🎨 Warhol's 'Marilyn' Sells for $195 Million

Plus: Crypto's Audacious Algorithmic Stablecoin Experiment Crumbles, Upstart Money Manager Gets Billionaires to Back the Anti-BlackRock, and more…

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Jose Montes de Oca
Join the Newslit Team every weekday morning as they guide you through some of the most fascinating stories in tech and business to supercharge your mornings.
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Today’s pick

Warhol's 'Marilyn' Sells for $195 Million, Shattering Auction Record for an American Artist. Maybe the image is not racy like the one of Marilyn Monroe with her dress flying up in the movie “ The Seven Year Itch, ” but on Monday night it became the priciest. In under four minutes of bidding, Andy Warhol's 1964 silk-screen of… (Robin Pogrebin / The New York Times)

Crypto's Audacious Algorithmic Stablecoin Experiment Crumbles. Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto. Instead, as investors in one such token are rapidly finding out, they can serve as lightning rods for… (Stacy-Marie Ishmael / Bloomberg)

Upstart Money Manager Gets Billionaires to Back the Anti-BlackRock. An upstart financial firm backed by Peter Thiel and Bill Ackman has a message for American corporations: Focus on making money, not taking stands. An upstart financial firm backed by Peter Thiel and Bill… (Liz Hoffman / Wall Street Journal)

Clearview AI banned from selling its facial recognition software widely in the U.S. A company that gained notoriety for selling access to billions of facial photos, many culled from social media without the knowledge of the individuals depicted, faces major new restrictions to its… (Taylor Hatmaker / TechCrunch)

Apple is planning to shake up its massive Services business to push further into streaming and advertising. Apple vet Eddy Cue is reorganizing the management structure of its Services business, sources say. The company is pushing harder into areas including streaming and advertising. Cue is giving more responsibility to services VP Peter Stern and ads… (Claire Atkinson / Business Insider)

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Jose Montes de Oca

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