Sky-High I.P.O. Pricing Isn’t Great for Real People

Sky-High I.P.O. Pricing Isn’t Great for Real People

When newly public companies have been valued as richly as SpaceX, OpenAI and Anthropic seem likely to be, the outlook for ordinary investors has been poor.

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Inside the Room Where War Insurance Is Bought and Sold

Inside the Room Where War Insurance Is Bought and Sold

Many of the ships stranded in the Persian Gulf depend on coverage negotiated at Lloyd’s, the center of marine insurance for more than 300 years.

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Trump Clears Way for Companies to Avoid Taxes in Havens Including Malta and Cyprus

Trump Clears Way for Companies to Avoid Taxes in Havens Including Malta and Cyprus

U.S. companies skirted at least $40 billion in taxes since the beginning of 2025 thanks to schemes in places like Malta, Bermuda and Cyprus.

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The $900 Billion Giant: How Anthropic Got So Big, So Fast

The $900 Billion Giant: How Anthropic Got So Big, So Fast

The artificial intelligence giant was just valued at $900 billion, surpassing OpenAI. Here are the numbers behind its rise — and headwinds it faces.

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Who Is the Baklava Guy at the Knicks Games?

Who Is the Baklava Guy at the Knicks Games?

In city parks, at Phish shows and outside Madison Square Garden, a nomadic salesman builds his brand, one pistachio-laden wedge at a time.

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Inside the Elon Musk-OpenAI Trial Courtroom

Inside the Elon Musk-OpenAI Trial Courtroom

The tech leaders, with combined net worths exceeding $670 billion, have brought props to court and traded icy stares as their legal dispute reaches a denouement.

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Putin’s Army of Drones

Putin’s Army of Drones

Freed from ethical constraints and hardened by years of war, a country long seen as a bureaucratic giant has become an entrepreneurial one.

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A Maker of Pet Toys in Ukraine Turns to Killer Drones

A Maker of Pet Toys in Ukraine Turns to Killer Drones

An entrepreneur behind drones that make the final strike themselves epitomizes the transformation of Ukraine’s civilian technology industry into a defense powerhouse.

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Linda Dresner, Old-School Guru of Avant-Garde Fashion, Dies at 88

Linda Dresner, Old-School Guru of Avant-Garde Fashion, Dies at 88

Her minimalist gallery-like store on Park Avenue was a destination for generations of moneyed New Yorkers and helped change the way clothing is sold.

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Presto! In Chicago, a High-End Magic Palace Appears

Presto! In Chicago, a High-End Magic Palace Appears

The entrepreneur Glen Tullman is betting people want to dress up and watch magicians in a luxury setting. Either it will work or $50 million will go poof.

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All the Worst People Seem to Want to Be ‘High Agency’

All the Worst People Seem to Want to Be ‘High Agency’

The term “high agency” is an ethos for a gambler’s time.

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A New Jersey Teen Finds Treasure, and More, in Abandoned Storage Units

A New Jersey Teen Finds Treasure, and More, in Abandoned Storage Units

Michael Haskell, 17, set out to make some money from his locker dives. He ended up learning about life.

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A Guardian of the Past Takes His Treasures Online

A Guardian of the Past Takes His Treasures Online

Louis Bofferding has an intimate feel for rare antiques with dramatic back stories. But his wealthy clients are content to point and click.

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Kickstarter’s C.E.O. on Running a Fully Remote Company With a Four-Day Workweek

Kickstarter’s C.E.O. on Running a Fully Remote Company With a Four-Day Workweek

Everette Taylor took over Kickstarter at a low moment for the crowdfunding pioneer, which made its name with small projects but now attracts major multinationals and celebrities.

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A NYC Chinese Restaurant’s Lunar New Year T-Shirts Are a Coveted Collector’s Item

A NYC Chinese Restaurant’s Lunar New Year T-Shirts Are a Coveted Collector’s Item

A New York restaurant’s Lunar New Year merchandise has become a coveted collector’s item.

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