In-N-Out shocks Oakland residents by closing city’s only location despite turning a profit — and high crime is to blame
In-N-Out Burger plans to close its only store in Oakland, California. The burger joint is the only restaurant in the Bay Area that has been open for nearly 20 years and, importantly, profitable. However, the company announced over the weekend that high crime rates in Democratic-run cities have made it impossible to operate safely. In-N-Out […]
Spotify has 600M users, but struggles to turn a profit
Spotify dominates the music streaming market, with around 600 million monthly active listeners and a 30% market share, but the Stockholm-based company has not been able to turn a profit. Spotify has a footprint more than twice that of its next largest competitor, Apple Music, but the leading audio streaming company reported a net loss […]
Goldman Sachs notches worst annual profit in four years
Wall Street giant Goldman Sachs reported its lowest annual profit since 2019, due to a failed expansion into consumer banking and losses from the economic slowdown that hit its core business last year. , the Wall Street giant announced Tuesday. Goldman Chief Executive David Solomon told analysts the move hurt earnings even as the bank […]