Meme Stocks Made Him a Fortune. Now He's Betting on Flying Taxis.

After booking a nine-figure profit by riding the meme-stock craze for old-school bricks-and-mortar businesses, hedge-fund manager Jason Mudrick was looking for his next big bet. He was as surprised as anyone that he settled on flying taxis.
Mudrick specializes in distressed companies, often established businesses that have fallen out of favor. But when late last year he became the biggest shareholder of a British aerospace startup and forced out its founder, he was making a long-shot play on a futuristic industry that for years has seemed just around the corner—yet still hasn't arrived.

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Salesforce CRM -1.08%decrease; red down pointing triangle is a giant in its field, but Peter Schwartz, one of its top strategists, isn't taking survival for granted in the era of artificial intelligence. The unprecedented pace of change brought by AI is forcing the software maker to reinvent itself, or risk being put out of business, said Schwartz, chief futures officer of Salesforce.

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32 minutes ago

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Thriving on Agility: Ali Al Gebely, Founder and Chairman, ONE Development

It took less than a month for ONE Development to sell out Phase 1 of its new Laguna Residence development. But for Ali Al Gebely, this is just the beginning. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Phase 1 of Laguna Residence sold out in less than a month after launch. Were you surprised by such a strong performance? The swift sell-out of Phase 1 of Laguna Residence in under a month was a significant milestone, yet it aligned with our expectations. This success underscores the trust and confidence that both local and international investors place in ONE Development's vision and execution capabilities. It reflects our strong understanding of the market dynamics and its readiness for innovative, AI-integrated living spaces. This achievement has encouraged our teams to deliver exceptional developments that meet and exceed our clients' evolving expectations. Can you expand on the new showroom in Abu Dhabi – the key features that make it such an important step forward? Our new showroom on Saadiyat Island represents a pivotal step in our expansion across the UAE. Strategically located in the capital Abu Dhabi's cultural and lifestyle hub, the showroom embodies ONE Development's commitment to innovation and personalised client experiences. The showroom is designed to provide an immersive experience, featuring advanced displays, carefully selected design elements, and interactive spaces. It serves as a gateway for clients to explore our unique approach to boutique real estate, allowing them to experience firsthand the quality and innovation characterising our projects. ONE Development is a newcomer to the property scene yet has managed to make a huge impact already. What are the reasons for this? ONE Development thrives on agility and a client-centric approach. Our focus is on delivering tailored, high-quality experiences that resonate with today's discerning residents. We differentiate ourselves in a competitive market by integrating advanced technologies and sustainable practices. Our developments, like Laguna Residence, exemplify this philosophy by blending innovative design, lifestyle amenities, and AI-powered solutions to create communities that foster connection, comfort, and a sense of home. How do you see the company evolve over the next five years, and what are the biggest obstacles you see to growth? Over the next five years, ONE Development aims to lead the transformation of community living by prioritizing connection, sustainability, and innovation. Our vision is to redefine the boutique real estate segment, setting new benchmarks for residential experiences through tech-driven, customer-centric design. This strategy is now extending beyond the UAE, marked by our recent international expansion with the launch of DO New Cairo in Egypt, and upcoming developments in Saudi Arabia and Europe by the end of the year laying the foundation for a truly global presence and a future shaped by visionary living. Laguna Residence is very well known for its integration of AI and other technological advancements. However, these industries are fast-moving. Do you have a vision for the type of home we will be living in ten years from now? Laguna Residence represents our vision for the future of living, where AI and technology seamlessly integrate into daily life. Through an innovative app, residents enjoy automated home management, personalised services, and intelligent facility control, all powered by AI. This ensures an efficient, smart, and connected lifestyle, elevating everyday living to new heights. Looking ahead, we envision homes that adapt to residents' needs in real time, utilising AI to enhance comfort, security, and sustainability. Our commitment is to continue pioneering advancements that redefine residential living, ensuring our communities remain at the forefront of innovation. Can you share how the concept of DO Hotels & Residences was born through your collaboration with the iconic Amr Diab? The idea was developed from a shared vision to create something that didn't exist—a hospitality experience that truly moves people. Amr Diab brought the soul: his global energy, passion for music, and timeless influence. We brought our expertise in designing spaces that inspire and connect. Together, we envisioned a new brand that blends music, wellness, and technology into an immersive lifestyle journey. This vision took shape with the launch of DO Dubai on Dubai Islands, followed by our first international debut with DO New Cairo in Egypt. By the end of the year, we are set to expand further into Riyadh and Greece, marking the beginning of a global footprint for DO Hotels & Residences. You will be aware of the record sales numbers for the Dubai property market in Q1 – what do you see as the reasons for this? Dubai's record Q1 property sales were driven by strong international investment, government visa reforms, limited supply in prime areas, and growing demand for branded, lifestyle-centric developments. Economic stability, population growth, and a global shift toward secure, high-yield assets further fueled momentum. ONE Development is well-positioned within this landscape, catering to demand for premium, design-led real estate in strategic locations. What were the key factors you believe in driving the sales for Laguna Residence? Laguna Residence's success stems from its pioneering AI integrated residential concept, the UAE's first of its kind, offering personalized, tech-enhanced living. It also features the region's largest sandy beach lagoon on a podium, framed by lush landscaping and panoramic skyline views—creating a resort like environment that appeals to modern urban buyers. The offering of diverse, meticulously designed units—from studios to Sky homes combined with over 40 world-class amenities, enhances its broad market appeal. Strong demand was further driven by a globally diversified investor base and strategic international partnerships. Related: How ONE Development Founder and Chairman Ali Al Gebely Took The Dubai Real Estate Market By Storm

Yahoo

an hour ago

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World Bank urges 'radical' debt transparency for developing countries

By Libby George LONDON (Reuters) -The World Bank is urging "radical" debt transparency for developing countries and their lenders to stave off future crises, it said in a report released on Friday. The Bank wants to broaden the depth and detail of what sovereign countries disclose regarding new loans, as more of them enter complex, off-budget borrowing deals due to global market turmoil. "When hidden debt surfaces, financing dries up and terms worsen," World Bank senior managing director Axel van Trotsenburg said in a statement, adding: "Radical debt transparency, which makes timely and reliable information accessible, is fundamental to break the cycle." The Bank wants countries to make legal and regulatory reforms that mandate transparency when signing new loan contracts and to share more granular debt data. It also wants more regular audits, the public release of debt restructuring terms, and for creditors to open their loan and guarantee books. It is calling for better tools for international financial institutions to detect misreporting. The World Bank and other multilateral banks have been pressing for years to improve lending transparency. The proportion of low-income countries reporting some debt data is now above 75%, up from below 60% in 2020. But only 25% of them disclose loan-level information. As financing costs spike due to trade wars and geopolitical risk, more countries are using arrangements such as central bank swaps and collateralized transactions that complicate reporting. Senegal has used private debt placements as it negotiates with the International Monetary Fund over misreporting of its previous debts, and Cameroon and Gabon have also used what are known as "off-screen" deals. Angola recently had to pay a $200-million margin call after a rout in its bond prices. In Nigeria, the central bank disclosed in early 2023 that billions of U.S. dollars of its foreign exchange reserves were tied up in complex financial contracts negotiated by the previous leadership. The Bank said broader loan coverage and deeper loan-by-loan disclosures would enable the international community to fully assess public debt exposure. (Reporting By Libby GeorgeEditing by Rod Nickel) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data