Financial Daily Dose 4.14.2021 | Top Story: Crypto Exchange Coinbase Makes Public Debut on Nasdaq

April 14, 2021

The Nasdaq has set Coinbase’s reference price at $250/share ahead of today’s first day of trading for the crypto exchange that’s making its public debut via direct listing - Bloomberg and WSJ and MarketWatch and TechCrunch and NYTimes

Fortnite maker and Apple foe Epic Games managed to take in a cool $1 billion in its latest funding round, a sum that gives the company a new valuation of nearly $29 billion—a more-than $10 billion jump in less than a year - NYTimes and WSJ

IRS Commissioner Charles Rettig was on the Hill Tuesday with a pretty basic message for the Senate Finance Committee: give us the resources to catch tax cheats or say goodbye to the roughly $1 trillion in unpaid taxes that the country’s missing out on EVERY YEAR - NYTimes

Let it be known. For all the official efforts to tamp down concerns about inflation in the coming months [and thanks to yesterday’s consumer price index figures, which showed the biggest jump in years], plenty of very serious people are keeping tabs price increases very seriously - NYTimes

And it case that’s not enough, the Upshot helps us understand what the new CPI numbers really mean [hint, it’s more backward-looking than it is a sign of things to come] - NYTimes

We’ve heard a bit about new Tribune bidder Stewart Bainum Jr., the Maryland hotel magnate with hopes for beating out Alden Global’s play for Tribune Publishing. So who, exactly, is Hansjorg Wyss (besides the Swiss billionaire partnering with Bainum in the venture they’ve dubbed Newslight)? Read on - NYTimes

Stitch Fix CEO and founder Katrina Lake is stepping down from her job as day-to-day leader of the online fashion retailer and will transition to the position of executive chairwoman - WSJ and MarketWatch

Meanwhile, Toshiba CEO Nobuaki Kurumatani is out after pressure from shareholders, a week after the company received a buyout offer from PE firm CVC Capital - WSJ

With CBS News President Susan Zirinsky heading out the door and ABC News also prepping to name its next news chief, broadcast news writ large finds itself at a crossroads “as executives confront a drastically different news environment in the aftermath” of the last presidency - NYTimes and WSJ

Can QuantumScape (and its next gen batteries) help VW make a quantum leap past Tesla in the electric vehicle race? A yes would mean more than a leg up on Elon - Bloomberg

Stay safe,