These days, everybody's betting on Uber. In the firm's seven years of existence, it has attracted nearly $15 billion dollars in funding via a nearly-unprecedented 14 rounds of investment. While Uber's management have made it intentionally difficult for small investors to own shares of the company, big investors are betting on Uber in droves. All this led Quartz's Steve LeVine to wonder — What if they're wrong? Can somebody make the opposite bet? Is it even possible to short Uber? [Spoiler: Basically, no.]. Earlier this year, Uber announced its expansion into subprime lending, and on Thursday, announced that it had lost $1.2 billion in the first half of 2016.
Why the Ice Bucket Challenge is bad for you: "The ALS campaign may be a great way to raise money – but it is a horrible reason to donate it" [more inside]
The most valuable strategic square acreage on the planet? Or a modest, charmingly low-key town in the Blue Ridge mountains of North Carolina? The BBC provides a fascinating report on Spruce Pine - the Mineral City where the Unimin Corporation mines the world's main supply of high purity quartz from the local hills. High purity quartz is essential to the manufacture of silicon wafers.