Author | Lightnews

Monica Hunter-Hart @mhunterhart.bsky.social · 1d

3/3 In the wake of the company's most profitable quarter yet, and of cofounder and CEO Steve Huffman becoming a billionaire, I took a look at how Reddit’s business model has evolved over time and how the platform is alternately fighting and embracing the AI age:
www.forbes.com/sites/monica...

Reddit’s Cofounder And CEO Steve Huffman Is Now A Billionaire

Strong ad sales have propelled Huffman into the billionaire ranks. Now he’s charting a new course, aiming to become invaluable to AI companies.

www.forbes.com

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Monica Hunter-Hart @mhunterhart.bsky.social · 1d

2/3 All of this is because authentic human content — Reddit’s specialty — is an increasingly hot commodity. AI companies need troves of it to train their models. And as bots and sponsored content crowd the internet, Reddit’s recommendations are seen as more reliable.

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Monica Hunter-Hart @mhunterhart.bsky.social · 1d

1/3 Reddit’s popularity has exploded in recent years.

Daily users have approximately doubled since the summer of 2023. It’s become one of the top sources cited by AI chatbots. And organic search to the platform has skyrocketed (you may have noticed more Reddit results when you Google these days).

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Reposted by Monica Hunter-Hart

ForbesUnion @forbesunion.bsky.social · 27d

@forbes.com mgt, led by CEO Sherry Phillips and CCO Randall Lane, have proposed 1.25% annual bumps for staff, not even keeping up with inflation--when many in the newsroom go YEARS without a raise. #journalismjobs @nyguild.bsky.social

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Monica Hunter-Hart @mhunterhart.bsky.social · Sep 17

2/2 Edwin Chen worries that AI models are too often optimized to send users down "delusional rabbit holes." He thinks artificial general intelligence is still 20 years away. And he hired a drummer with no tech experience as his 5th employee. My kinda guy. Give it a read!

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Monica Hunter-Hart @mhunterhart.bsky.social · Sep 17

1/2 Amazing story from my colleague @pheebini.bsky.social about the CEO & founder of Surge AI, which is generating more revenue than any other AI company focused on data labeling (labeling = a crucial step in the process of training AI models).
www.forbes.com/sites/phoebe...

AI Founder Edwin Chen Shunned VC. Now He’s Worth $18 Billion

An alum of Google and Twitter, Edwin Chen built his data labeling company, Surge, in the shadows of the AI revolution. Now the 37-year-old wants to make his voice heard.

www.forbes.com

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Reposted by Monica Hunter-Hart

Iain Martin @iainmartin.bsky.social · Sep 10

Jared Kushner has cofounded an AI startup, Brain Co, with VC Elad Gil and Luis Videgaray, the former Mexican foreign minister, to help corporates and government deploy AI www.forbes.com/sites/giacom...

Meet Jared Kushner’s New AI Startup, Brain Co

Kushner teamed up with prolific solo investor Elad Gil and Luis Videgaray, the former Mexican foreign minister, to launch Brain Co., which helps businesses and governments apply AI to their operations...

www.forbes.com

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Monica Hunter-Hart @mhunterhart.bsky.social · Aug 28

Read more in my latest for @forbes.com:

www.forbes.com/sites/monica... (3/3)

Telecom Billionaire Stages Latest Comeback With Controversial AT&T Sale

Charles Ergen's wealth jumped after announcing plans to unload some of EchoStar's spectrum for $23 billion. The move killed any dreams of his nationwide 5G network.

www.forbes.com

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Monica Hunter-Hart @mhunterhart.bsky.social · Aug 28

The sale dooms the nationwide 5G mobile network he'd promised, and with it hopes of a more competitive cell service market anytime soon.

It also means the end of some cutting-edge software EchoStar had been developing. (2/3)

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Monica Hunter-Hart @mhunterhart.bsky.social · Aug 28

It's a great week for telecom billionaire Charles Ergen.

His company EchoStar announced it would sell spectrum to AT&T. Its stock soared and his wealth more than doubled.

But the consequences for consumers are more complicated. (1/3)

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Monica Hunter-Hart @mhunterhart.bsky.social · Aug 28

Read more in my latest for @Forbes:

www.forbes.com/sites/monica... (3/3)

Telecom Billionaire Stages Latest Comeback With Controversial AT&T Sale

Charles Ergen's wealth jumped after announcing plans to unload some of EchoStar's spectrum for $23 billion. The move killed any dreams of his nationwide 5G network.

www.forbes.com

Monica Hunter-Hart @mhunterhart.bsky.social · Aug 28

The sale dooms the nationwide 5G mobile network he'd promised, and with it hopes of a more competitive cell service market anytime soon.

It also means the end of some cutting-edge software EchoStar had been developing. (2/3)

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Monica Hunter-Hart @mhunterhart.bsky.social · Aug 7

Here's the story, out today from me and my incredible former colleague @jemimamcevoy.bsky.social — her last story with @forbes.com:

www.forbes.com/sites/monica...

‘Smoke And Mirrors’: How This Entrepreneur Exaggerated And Self-Promoted Her Way Into Turmoil

Pierson has cozied up to everyone from Diane Von Furstenberg to Selena Gomez, burnishing her image as her businesses unraveled. A case study in how hubris is bad for business.

www.forbes.com

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Monica Hunter-Hart @mhunterhart.bsky.social · Aug 7

Pierson—who portrays herself as an advocate for women and for mental health—berates her mostly-female staff, often sending employees to tears.

“There was this culture of Danny having two personalities,” says an ex-worker. “One was online, and with us she was different.” (3/4)

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Monica Hunter-Hart @mhunterhart.bsky.social · Aug 7

But not all is as it seems.

A Forbes investigation reveals that Pierson has been exaggerating revenue, subscriber, and other numbers for years. Her masterful self-promotion and hyperbole have helped her attract ever more investors, partners, and elite friends. (2/4)

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Monica Hunter-Hart @mhunterhart.bsky.social · Aug 7

Daniella Pierson appears to embody success. She’s started four companies, one with Selena Gomez. She shows off a luxurious lifestyle and celebrity friend network on social media. Forbes even called Pierson one of the richest women of color in the U.S. in 2022, pegging her net worth at $220m. (1/4)

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Monica Hunter-Hart @mhunterhart.bsky.social · Jul 4

3/ In my latest story for @forbes.com, I dig into the real reasons for Wayfarer’s closure — and the impact it’s having on the foundation’s nonprofit grantees:
www.forbes.com/sites/monica...

How The Blake Lively Saga Led A Billionaire To Shut Down His Foundation

Steve Sarowitz built a charitable foundation around the values of Baháʼí. The organization funded hundreds of nonprofits until it suddenly announced its closure in May.

www.forbes.com

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Monica Hunter-Hart @mhunterhart.bsky.social · Jul 4

2/ At the time, many outlets reported that the shutdown was motivated by financial difficulties. But my reporting indicates otherwise.

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Monica Hunter-Hart @mhunterhart.bsky.social · Jul 4

1/ Billionaire Steve Sarowitz’s Wayfarer Foundation had been financing 200+ nonprofits with around $100 million until its sudden shutdown in early May.

The closure occurred amid his high-profile legal battle with actress Blake Lively, who’s sued him and his partner Justin Baldoni.

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Reposted by Monica Hunter-Hart

Zach Everson @zacheverson.com · May 9

👀 "How The Ultra-Wealthy Are Protecting Themselves Against Arson Attacks, Kidnapping And Worse"

@mhunterhart.bsky.social for @forbes.com

Billionaires And CEOs Are Seeking Personal Security At Record Rates

As resentment of the rich and powerful grows, the ultra wealthy are using everything from secret trackers to security squads to protect themselves and their families.

www.forbes.com

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Monica Hunter-Hart @mhunterhart.bsky.social · May 9

3/ The ultra-wealthy are coping with everything from secret trackers on their kids to sophisticated online threat monitoring to full security squads. I took a look at what they’re doing, and how much it costs, for @forbes.com:

www.forbes.com/sites/monica...

Billionaires And CEOs Are Seeking Personal Security At Record Rates

As resentment of the rich and powerful grows, the ultra wealthy are using everything from secret trackers to security squads to protect themselves and their families.

www.forbes.com

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Monica Hunter-Hart @mhunterhart.bsky.social · May 9

2/ The nation’s wealthiest people and the companies that employ them have sought protective services at increased rates over the past few months, 13 security firms told me. Nine said they’re getting record or near-record numbers of inquiries.

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Monica Hunter-Hart @mhunterhart.bsky.social · May 9

1/ Billionaires are more concerned than ever about their safety.

Resentment toward the rich and powerful was already increasing amid wealth inequality, overseas wars, and hyper-polarized politics. Then came the UnitedHealthcare CEO shooting and a string of other incidents.

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Reposted by Monica Hunter-Hart

Giacomo Tognini @giacomotognini.bsky.social · May 1

Fantastic profile by
@mhunterhart.bsky.social of Florida homebuilder Pat Neal and how he's preparing his firm--focused on the middle-class--for higher tariffs and still-high interest rates:

Monica Hunter-Hart @mhunterhart.bsky.social · May 1

1/ Many experts believe homebuilders are about to experience their worst year since the Great Recession.

The axe is already coming down hard in Florida.

“Florida’s always been the precursor for what’s going to happen with real estate in this country,” says analyst Jack McCabe.

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Monica Hunter-Hart @mhunterhart.bsky.social · May 1

3/ Neal has a bold—and risky—plan to survive the economic turmoil. He spoke to @forbes.com about it:
www.forbes.com/sites/monica...

This Florida Homebuilder And Former State Legislator Is Now A Billionaire

Pat Neal made a fortune constructing homes for the middle and upper middle class. But now those consumers are pulling back amid the economic turmoil.

www.forbes.com

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