Forbes Daily: General Motors Is Abandoning Its Robotaxi Investment

Wednesday's edition of Forbes Daily covers UHC shooting suspect's alleged Reddit history, small business reprieve, Infowars sale scrapped, Gaetz' next act, and more.
Randolph Aufderhar · 5 days ago · 3 minutes read


The Changing Landscape of Leadership

Women Rising, Shattering Barriers

In a historic moment, Claudia Sheinbaum became the first female president of Mexico, declaring, "It is time for women." However, a survey reveals a decline in public confidence in female leadership across business and politics.

"Despite the challenges, President Sheinbaum and the remarkable women on Forbes' 2024 Power Women list are defying these trends. Melinda French Gates is pledged to invest $1 billion to empower women globally, and Malina Ngai leads AS Watson, the renowned health and beauty retailer."

UnitedHealthcare Suspect's Social Media Presence

Luigi Mangione, the UnitedHealthcare shooting suspect, was an active Reddit user, engaging in discussions on spinal pain, travel, and Pokémon Go. Reddit has suspended Mangione's account, citing its policy against accounts associated with "criminal investigations."

Legal Battles and Legislation

Last week, an appeals court upheld a law targeting TikTok, potentially forcing its parent company to relinquish control of U.S. users' data.

A federal judge has blocked the sale of Alex Jones' Infowars to The Onion, concluding that victims of the Sandy Hook Elementary School shooting were undercompensated. Additionally, a judge has prohibited a $25 billion merger between Kroger and Albertsons over concerns about reduced competition in the grocery market.

Amid inflation, small businesses have found relief through modifications to the Small Business Administration's 504 loan program, enabling them to refinance debt and secure lower interest rates.

Wealth and Business

Larry Ellison, Oracle's co-founder, saw his net worth decline sharply as the company's stock underperformed. General Motors has merged its Cruise robotaxi unit with its efforts to develop autonomous passenger vehicle technologies.

Andy Konwinski's Laude Ventures has raised $150 million to invest in start-ups, prioritizing Berkeley alumni and highly-technical founders.

Politics and Policy

Former Rep. Matt Gaetz will host a show on the conservative OAN network, which faces limited distribution and has promoted false claims of election fraud. President-elect Donald Trump has promised quicker environmental approvals for large investments, but the specific mechanisms remain unclear.

Caitlin Clark: Powerhouse in Women's Sports

Caitlin Clark, a 22-year-old basketball phenom, has made history throughout the past year. She became the top pick in the 2024 WNBA draft and set rookie records. Her exceptional performances have propelled the WNBA to record-breaking viewership.

Wasserman's The Collective Executive Director Thayer Lavielle describes Clark as "the lightning rod" who has captivated audiences and transformed the visibility of women's sports.

Walgreens Exploring Sale

Walgreens shares surged after reports emerged of discussions for a private equity sale. The company has faced financial struggles, including a decline in share value and a shrinking market cap.

Tax Strategy for Charitable Giving

Charitable contributions may be eligible as itemized deductions. Bunching gifts in a single year can enhance tax savings. Donating appreciated assets like real estate provides additional benefits, allowing donors to avoid capital gains tax while claiming a charitable deduction.