FT News Briefing Monday, December 30
Dec 30, 2019
Fraudsters are reportedly siphoning off billions from companies through bogus responses to online ads. In a surprising turn, WeWork faces a hefty $17 million payout for executives' golden parachutes. Meanwhile, France witnesses a surge in new small businesses. Warren Buffett shares his stance on the corporate moral dilemma, declaring that companies shouldn't act as moral arbiters. This mix of financial insights and societal reflections keeps the conversation lively and thought-provoking.
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Ad Fraud Costs
- Fake clicks on online ads cost companies tens of billions of dollars annually, far exceeding industry estimates of $6 billion.
- Fraudulent app downloads driven by ads are a significant issue, with about half of analyzed downloads being fake.
WeWork Executive Payouts
- WeWork will pay $17 million to co-CEOs Artie Minson and Sebastian Gunningham if they leave under specific conditions.
- This follows Adam Neumann's $1.6 billion exit package and WeWork's ongoing financial struggles.
French Startup Boom
- French startup creation surged 45% since Emmanuel Macron took office, reaching nearly 809,000 in 2019.
- Factors include state assistance, tech visas, lower taxes, and reduced red tape.