First, reporter Cameron Albert-Deitch talks about the latest news coming out of SoftBank's Vision Fund and its portfolio companies not named WeWork. Dog walking app Wag and car leasing startup Fair are reportedly under significant financial strain. Fair laid off 40 percent of its employees this month in an attempt to revamp its business model and reach profitability. Wag is reportedly in talks to sell itself to Petco, after struggling to scale its business and losing market share to rival Rover. Both companies count SoftBank as their largest backer.
Next, I discuss the Great CEO Exodus of 2019. From Under Armour's Kevin Plank to Overstock's Patrick Byrne and WeWork's Adam Neumann, this year has seen a record number of top executives getting booted off the ship. Sure, some of these departures are about normal business cycles coming to an end and bringing in a new generation to lead the company forward. Others stem from increased board oversight over executives' behavior.
Finally, senior writer Christine Lagorio-Chafkin shares the wonderful tale of family-owned business Smarties, makers of the ubiquitous Halloween candy. The New Jersey-based company was founded 70 years ago by Edward Dee, a British immigrant whose family had been in the candy business for generations. "It was the only thing I knew how to do," Dee tells his relatives to this day. Now the venture is helmed by three of his granddaughters, Liz Dee, Sarah Dee, and Jessica Dee Sawyer.
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