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What Billionaire Scott Cook’s College Ski Club Taught Him About Business | Forbes

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Scott Cook is chairman of the executive committee and cofounder of Intuit, a company that helps millions of people and small businesses manage their finances with products like QuickBooks, TurboTax and Mint. Cook was harnessing the power of software to make a common task simpler in 1983, when Google’s cofounders were still in grade school, most of the PayPal mafia was learning basic arithmetic and Mark Zuckerberg wasn’t even born. Today, the publicly traded behemoth boasts sales of over $6 billion and a market cap of $68 billion.

This wasn’t the future Cook imagined for himself as an undergraduate at the University of Southern California, with his eyes set more on the ivory tower than silicon valley. After he and a pal won a federal research grant to study the economics of air pollution, Cook thought he might pursue a Ph.D. in the field. A fateful day at the ski club’s general interest meeting would change all that.

Read the full profile on Forbes: https://www.forbes.com/sites/catherineperloff/2019/10/02/how-a-college-ski-club-transformed-intuit-cofounder-scott-cook-from-would-be-economist-to-billionaire/#7c1652e96eb2

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Instagram’s Kevin Systrom On Tracking Covid-19 And Advice For Entrepreneurs | Forbes

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Shut-in at home as Covid-19 swept the U.S., Instagram cofounder Kevin Systrom was growing frustrated by the confusing and unreliable data on the spread and scale of the disease. So the creator of one of the world’s most viral companies—now one billion-plus users strong—began building a site to track the virus. "I kept asking ‘if I was running a state or a country what stat would I want to know?" said Systrom in a Zoom interview during the Forbes’s Under 30 hackathon, with partner Rocket Mortgage, in support of the city of Detroit. Through his research, he learned about a metric called Rt. Well known in epidemiology, it measures the rate that a virus spreads from person to person. "If R is less than one, then the outbreak shrinks. If it’s larger than one, it grows exponentially—and that’s a bad thing."

Playing around with Python code, Systrom, 36, built a program that collected patient data from various health sources and calculated the Rt reproduction rate for California. Other states soon followed. Data in hand, but with no way to share it, he phoned his Instagram cofounder Mike Krieger. Launched in mid-April, the site now attracts more than 100,000 daily users, including health officials, media outlets, and government leaders—N.Y. Governor Andrew Cuomo has quoted the website in his popular daily press briefings. The site shows if the Covid rate of reproduction is growing or shrinking in each state, and the effect that shutdowns—and reopenings—are having on the virus’s spread. Says Systrom: "My goal was to be apolitical, factual, and show people the data. Hopefully, people will make better decisions based on the data that they get to see."

To close-out Forbes’ Under 30 Detroit Hackathon, Kevin Systrom, a member of the inaugural Under 30 list, shared how and why he built RT.Live, his tips on starting companies to solve big problems, and the next area of tech he’s looking to shake up.

Read the full profile on Forbes: https://www.forbes.com/sites/stevenbertoni/2020/07/01/instagrams-kevin-systrom-built-a-free-covid-19-tracking-site-to-help-you-make-safer-decisions/#5fbd86412d31

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Serena Williams On The Companies She Likes To Invest In | Forbes

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Serena Williams exemplifies courage, beauty, power and style, and has overcome insurmountable odds to win 23 career Grand Slams, the second-most singles titles of record. Her remarkable tennis achievements combined with her off-court success in fashion, philanthropy and business make her one of the most recognizable global icons in the world. In early 2019, Serena launched her own VC firm, Serena Ventures, which is focused on investing in companies that embrace diverse leadership, individual empowerment, creativity and opportunity. At the 2019 Under 30 Summit in Detroit, Serena sat down with Forbes’ Randall Lane to discuss the types of companies – and entrepreneurs – she looks to invest in.

Subscribe to ForbesLive for more summit content: https://www.youtube.com/channel/UCxYoShcfPZ1cxydh9w8pVbw

Visit the ForbesLive event page to register for Forbes events: https://www.forbes.com/connect/events/

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The Most-Valuable Teams In Major League Baseball 2020 | The Countdown | Forbes

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Even in times of economic turmoil, an investment in a Major League Baseball team is a sure bet. Major League Baseball has seen this play before: A global calamity spreads fear and panic. Equity values plummet. The future gets scary. And prices for the most valuable teams in the league hold their lead.

Our team values are enterprise values (equity plus net debt) calculated using a multiple of revenue. The multiples are based on historical transactions and the future economics of the sport and team. Revenue and operating income (earnings before interest, taxes, depreciation and amortization) measure cash in versus cash out (not accrual accounting) for the 2019 season.

Our figures include the postseason and are net of revenue-sharing and stadium debt payments for which the team is responsible. Revenues include the prorated upfront bonuses networks pay teams, as well as proceeds from non-MLB events at the ballpark. Ownership stakes in regional sports networks, as well as related profits or losses, were excluded from our valuations and operating results. Sources include sports bankers, public documents like leases and filings related to public bonds and media rights.

Read the full profile on Forbes: https://www.forbes.com/sites/mikeozanian/2020/04/09/despite-lockdown-mlb-teams-gain-value-in-2020/#3ed3cab92010

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