In the battle over on-demand ridesharing startups, Morgan Stanley has officially put itself in Uber’s corner. The firm announced that employees could now expense Uber rides through its corporate travel policy, giving Uber a major advantage over Lyft and eliminating one of the remaining advantages of traditional taxi services.
Of Course There was a Bitcoin Ponzi Scheme
Details surrounding the case of Bitcoin Savings & Trust being revealed as a Ponzi scheme have just recently been disclosed, and the story is even more implausable than originally thought. Not only did Trendon Shavers run a Ponzi scheme with the virtual currency, he bet another bitcoin user that it wasn't, and not only did he lose, but he paid up. Matt Levine sums it up best for Bloomberg View: "What are the lessons here? The big one is, don't invest with people you meet on Internet forums. That is not a rule of bitcoin, it is a rule of life."
Wealth Inequality, Defined
There's one number, and one number only that you need to know to sufficiently describe the grostesque wealth inquality in the world right now. It's this: The 85 richest billionaires on the planet have as much money as the 3.5 billion poorest people, according to Oxfam. Need more evidence? GlobalPost has it.
There Will Never Be Another Ice Bucket Challenge
But that won't stop charities from trying to mimic its appeal nor researchers from studying what made it so viral and so successful. The New York Times takes the plunge.