Arik Hesseldahl

Recent Posts by Arik Hesseldahl

Best Buy Founder Schulze Offers to Take Retailer Private

Richard Schulze, the founder and former chairman of the struggling electronics retailer Best Buy, has offered to buy out the chain at $24 to $26 a share, according to a report by Bloomberg News. The offer would value the company at about $8.5 billion, and amounts to a premium of between 36 percent and 47 percent over Best Buy’s closing share price on Friday. Best Buy shares soared in premarket trading by more than 21 percent.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work