The bottom line
Despite Uber’s IPO troubles, the $500,000 initial investment the venture capital firm First Round Capital made in Uber in 2010 is now worth $2.5 billion—a 4,996-fold return. That’s among the most lucrative VC investments ever, though the total gain is not as large as that on the $14.8 million Accel Partners invested in Facebook, worth $5.7 billion in Facebook’s IPO.
The Wall Street Journal
Costco sold 650,000 cars last year—a 25 percent increase from 2017—making it a bigger car retailer than AutoNation, the country’s largest automotive dealership group, which sold 548,561 cars.
Sugary drink sales dropped 38 percent in Philadelphia after the city imposed a 1.5 percent per ounce tax on soda in 2017. But while beverage sales inside the city limits dropped 51 percent, they were partially offset by an increase in sales in neighboring locations.
The number of bachelor’s degrees awarded for health professions has grown 213 percent since 2000–01. Women are a primary driver of the increase: They account for 84 percent of health-profession degrees.
The U.S. flower industry generates $26 billion annually, but 80 percent of the cut flowers sold in America are imported, including the bouquets and arrangements used inside the White House.
New robots at Amazon warehouses are capable of assembling 600 to 700 boxes per hour. The machines, which cost $1 million each, could be installed in 55 U.S. fulfillment centers. One robot would replace 12 employees.