L.A. Clippers owner Steve Ballmer wants to save sports by reinventing the way we watch them

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How a partnership between the former Microsoft CEO and the basketball-obsessed data scientists of Second Spectrum gave rise to a groundbreaking new broadcasting technology. Steve Ballmer pressed the heels of his hands against his thighs and leaned forward. He was sitting in his customary spot at Staples Center, along the baseline in the arena’s north end. Most NBA owners sit at midcourt and dress like the corporate executives with billion-dollar fortunes that they are. Ballmer was wearing a plaid shirt and casual pants. “I can’t wear a sport coat to a basketball game,” he’d said a few minutes earlier. Read Full Story

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How Jeff Bezos is spending his first $791 million on climate action

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Bezos is giving it to organizations with a proven track record—but doesn’t seem to be aiming to reshape the climate world. If you had $10 billion to spend on tackling the problem of climate change, how would you spend it? For Jeff Bezos, who has spent the last several months talking to experts about the question—after pledging to donate roughly 7% of his fortune to the climate in February , a far higher total dollar amount any other individual donor in history—part of the answer has been turning to some of the world’s biggest environmental groups, which are all already well-funded. Read Full Story

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The Biden proposal for a global minimum corporate tax rate, explained

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To eliminate tax havens such as the Cayman Islands, the Biden administration is working to get all countries to agree to a minimum corporate tax rate. The “Double Irish, Dutch sandwich” sounds like a menu item, but it’s actually a complicated business scheme where companies open offices in Ireland and the Netherlands, two countries with low corporate tax rates, and move money between them to minimize their tax burdens. Tax havens (and tricks to manipulate them) are now a common part of multinational business practice. By taking advantage of legal loopholes and opening up subsidiaries in places such as Bermuda or the Cayman Islands, corporations avoid paying billions of dollars of taxes, while ordinary citizens and domestic businesses keep paying their fair share. In 2016, 73% of Fortune 500 companies reportedly operated subsidiaries in tax-haven countries. Read Full Story

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