Latest news with #Darrell
Bloomberg
3 days ago
- Business
- Bloomberg
Trae Stephens Says Anduril More Than Doubled Valuation
00:00 Congratulations. This is Series G. What are the details? And this seems meaningful for under oath. It is. You know, as we continue working on building a company that has the capacity to scale into the largest problems for the national security community, we thought it was really important to shore up the balance sheet and make sure that we have the ability to deploy capital into these manufacturing and production problems. That's that we're working on. The ground. Ended up being a two and a half billion dollar round at a valuation of 30.5 billion post-money. It's a tremendous opportunity for us to continue growing the team, growing the infrastructure and our ability to really ramp up into these into these bigger problems that sound as fund led the rounds. You have an interesting role as executive chair at and Darrell and I but you recuse yourself from the Founders fund part of that I believe. Right like one of one of if not their biggest check ever. Yeah the largest check and founder on history. We put $1 billion into the two and a half billion dollar round. Okay. Why is this commitment, this necessary money right here, right now, Is this going to be the last one before potential IPO? Oh, man, it's a great question. You know, there are a lot of ways to raise capital. It's not just the possibility of IPO. Obviously, long term. We continue to believe that Andrew, is the shape of a publicly traded company. We're not in any, you know, rapid path to doing that. We're certainly, you know, going through the processes that are required to prepare for doing something like that in the medium term. But right now we're just very focused on the mission at hand, going at this as hard as we can. Does that mean we raised another private round of capital at some point? Maybe Hard to say. You know, we're always surprised that how much demand there is in these massively oversubscribed and how oversubscribed space it was a lot like 8 to 10 X of what we had the capacity to take on. You know, there's a lot of players that are starting to figure out the momentum is drawing into, you know, being able to do this at Andrew. And I think there's just a lot of a lot of interest from growth funds, from crossover funds for mutual funds, for getting a bite of that before there's a public market opportunity. Well, interesting you say getting a bite of the action when it comes more broadly to defense. Suddenly all of Silicon Valley kind of wants to be in defense and in U.S. manufacturing. In fact, was Andrew Bosworth of matter yesterday talking about how maybe there's some bigger patriotism than we realized across Silicon Valley. Just take a listen. There's a much stronger patriotic underpinning that I think people give Silicon Valley credit for. But taking a step deeper, this is this is actually a return to grace for the valley, potentially not just from Meta, but from Google and other companies. The Valley was founded on a three way investment between the military, academics and private industry. That was the founding of it. There would be no technology if we weren't all tasked with the problem of computing naval ballistic trajectories. During the first two world Wars, you have a partnership. The technology that Mehta makes working hand-in-hand with Andrew. Interesting. Of course, that malarkey now goes back to a company that he of course sold Oculus to. In many ways with this partnership, what does it look like in more partnerships going to be eroding, erupting? HIM Well, I mean, to to Bob's point, you know, the world has changed a lot in the last in the last eight years. Andrew actually turns eight years old tomorrow. We're approaching our anniversary, which is the anniversary of D-Day as well. We started the company on the 73rd anniversary of D-Day, recognizing there's an important contribution for not only ourselves but also the American enterprise into national security efforts. You know, Palmer was fired by Metta in 2016 for his politics. You know, those Google Maven walkouts and protests. The reality is, is that the the silent majority actually believes that these things are really, really important to work on. And, you know, Palmer being able to go back to his roots and reach a point of forgiveness with the media team to focus on the most important task at hand, which is leaning in on the best in class optics and VR work that they're doing to contribute to the mission that we're leading with the Ives opportunity with the D.O.D..
Yahoo
4 days ago
- Business
- Yahoo
Workforce must 'upgrade' job skills to survive AI disruption
Meta Platforms (META) aims to fully automate advertising with artificial intelligence (AI) by the end of next year, according to the Wall Street Journal, as tech companies embrace AI-driven workforce changes. Darrell West, senior fellow at Brookings Institution's Center for Technology Innovation, joins Catalysts to discuss AI's impact on job losses, retraining and upskilling needs, and broader economic effects from the technology. Also read up on Meta's 20-year nuclear power deal with Constellation Energy (CEG) starting in 2027. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Meta plans to fully automate advertising with AI by the end of next year, according to The Wall Street Journal. The news is part of a broader shift toward implementing AI in the tech workforce, a shift that Anthropic CEO says could wipe out 50% of entry-level white-collar jobs over the next five years. Here to discuss, Darrell West, Brookings Institution senior fellow in the Center for Technology Innovation and author of "The Future of Work: Robots, AI, and Automation." Great to speak with you here this morning, Darrell. Talk to me about how you would define AI's impact on the workforce going forward. Well, Madison, I think you're right in the intro in the sense there are going to be substantial job losses coming from AI. Uh, we already are seeing it in entry-level positions. Certainly, administrative tasks are easy to automate. Some of the tech companies recently have had layoffs. 40% of the people laid off have been coders. So even in the software area, an area that we used to think was safe from automation is no longer going to be safe. And talk to me then about sort of the net effect of AI on the workforce here. Is there a potential, like there is with every single technological disruption, of new jobs being created that those coders could then go get employed with? There certainly will be new jobs created based on some of the emerging technologies. But the problem is what we call the mismatch problem, which is the skills needed for some of the new jobs are skills that many of the people being laid off are not necessarily going to have. So it's really going to place an emphasis on job retraining. People are going to have to upgrade their job skills. And so we're really going to have to devote much more attention to retraining the people for those new jobs that are going to be created. What do you think about the net inflation impact of all of this? Is it near-term inflationary because we have to put a lot of resources into investing in AI, or is it disinflationary because we have a lot of job loss as a result? Well, I think workers are going to end up in a worse position in the sense that, certainly, the people who are being laid off, uh, given the skills that they have, it will be hard for them to find, uh, jobs because they may look in other companies or in other organizations. Those companies are going to be doing exactly the same thing. So it really shows that people are going to have to upgrade their skills. Uh, it's going to impact the economy, and the numbers could be quite substantial.
Fibre2Fashion
22-05-2025
- Business
- Fibre2Fashion
US' VF Corp FY25 margins surge as transformation strategy delivers
American apparel and footwear company VF Corporation has reported a revenue of $9.5 billion in the 12 months period ended March 2025, down 4 per cent year-over-year (YoY), and adjusted operating income stood at $556 million, a significant turnaround from previous fiscal GAAP operating loss of $144 million. The company reduced its net debt by $1.8 billion YoY, ending FY25 with a leverage ratio of 4.1x, down by a full turn compared to the previous fiscal. VF Corporation has reported revenue of $9.5 billion in FY25, down 4 per cent YoY, with adjusted operating income of $556 million, marking a strong recovery from a prior loss. Net debt was cut by $1.8 billion, reducing leverage to 4.1x. The North Face and Timberland grew, while Vans and Dickies declined. VF expects Q1 FY26 revenue to dip 3-5 per cent. Brand-wise, The North Face revenue rose 1 per cent, including 4 per cent in Asia Pacific (APAC) region. Timberland revenue increased 3 per cent, Vans and Dickies declined 16 per cent and 12 per cent, respectively. Region-wise, APAC grew 1 per cent, while Americas and Europe and Middle East (EMEA) fell 7 per cent and 3 per cent. Wholesale and direct-to-consumer (DTC) channels declined by 2 per cent and 6 per cent, respectively, VF Corporation said in a press release. In the fourth quarter (Q4) FY25, revenue was down 5 per cent YoY to $2.14 billion (down 3 per cent in constant currency), in line with guidance. The adjusted operating income reached $22 million, exceeding expectations, while the company posted a net loss of $151 million. The gross margin improved to 53.5 per cent up 550 basis points (bps), and adjusted gross margin was 53.4 per cent, up 560 bps. In Q4, The North Face and Timberland brands delivered growth, while Vans and Dickies saw declines. 'In FY25, we achieved our goals to lower our cost base and strengthen our balance sheet. We delivered on our initial target of $300 million gross cost savings and are on track towards our medium-term targets of $500 to $600 million net operating income expansion. We paid down $1.8 billion in debt during the year, reducing leverage by a full turn versus last year and advancing towards our medium-term target of 2.5x,' said Bracken Darrell, president and chief executive officer (CEO) at VF Corporation. 'We are well-positioned to navigate increased volatility in the macro environment, and I am confident that the actions we are taking will enable our brands to return to growth and VF to deliver strong, sustainable value creation.' 'Revenue for the quarter was in-line with our guidance and excluding Vans, was up versus last year, led by growth at The North Face and Timberland. Adjusting for the revenue impact to Vans from deliberate strategic actions to establish a strong foundation for future growth and improved profitability, the decline in the brand's Q4'25 revenue was consistent with the Q3'25 trend. The transformation of VF is well underway,' added Darrell. For Q1 FY26, VF projects revenue to decline 3-5 per cent at constant currency, and an adjusted operating loss between $110 million and $125 million. The company aims to reach 2.5x leverage by fiscal 2028 (FY28), with continued cost reductions under its 'Reinvent' transformation strategy. Fibre2Fashion News Desk (SG)
Yahoo
08-04-2025
- Health
- Yahoo
Marijuana, other THC products may pose heart hazard, research shows
Is marijuana bad for your heart? New studies found growing evidence of a link between cannabis use and a higher risk of heart problems, including stroke and heart attacks. Action News Jax's Atlanta station WSB-TV spoke with a grieving mother who believes her 25-year-old son's death from heart disease was caused by Delta-8 gummies. >>> STREAM ACTION NEWS JAX LIVE <<< 'That was my baby. That was my friend,' said Gladys Johnson. She is heartbroken over the sudden death of her son, Darrell Johnson. She said he worked at Delta Air Lines as a baggage handler and was a healthy young man who liked to work out. On March 10, 2024, he and his girlfriend bought several packages of 500-milligram THC gummies. He collapsed not long after eating them. Despite the best efforts of paramedics and doctors, Darrell died at the hospital. 'I'm forever going through the moment losing my baby brother,' said Darrell's older brother, Travell Johnson. According to the autopsy, Darrell died of atheroschlerotic cardiovascular disease caused by plaque buildup in the arteries. A toxicology report shows he had Delta-8 THC in his system. Although the autopsy report mentions the presence of marijuana metabolites, it does not blame them for Darrell's death. 'If he knew that would have caused his heart to pump fast, he would have never messed with that stuff,' said Travell Johnson. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] Cardiologists like Dr. Pradyumna 'Prad' Tummala said evidence is growing that THC in marijuana, Delta-8 and Delta-9 can cause heart problems in some people. 'We really in the past decade have had some good studies that linked the use of marijuana, THC to more heart-related events including heart attacks, strokes, heart failure, irregular heartbeat,' said Dr. Tummala. A study published in February 2024 by the American Heart Association reports that 'using marijuana resulted in a 36% higher combined odds of coronary heart disease, heart attack or stroke.' Researchers said THC can inflame arteries and tissues, increasing the heart rate and blood pressure. 'The American Heart Association has data showing since legalization we have had more incidents of heart disease, heart failure, atrial fibrillation and strokes,' said Dr. Tummala. The gummies Darrell bought are legal in Georgia as long as they contain 0.3% or less THC. The Executive Director of the Georgia Poison Center is sounding the alarm. It received more than 1,000 calls in the last four years related to marijuana induced illness, half concerning children. 'We have cases where kids have gotten dizzy or drowsy. They've fallen, hit their head on a table,' said Dr. Gaylord Lopez, the Executive Director of the Georgia Poison Center. He is pushing Georgia lawmakers to close loopholes in state laws on Delta products. He said manufacturers can fortify hemp to make it more potent like marijuana. 'There are chemicals that are added to hemp to make it into these products like Delta-8 and Delta-9. So, it's not naturally occurring. These are synthetically produced. And that's what we want to shut down,' said Dr. Lopez. Currently, there is no FDA regulation, oversight or quality control of these THC products. A new Georgia law passed in 2024 requires stores to have proof their products were tested. But Gladys Johnson wants more to be done to prevent tragedies like the death of her son. 'Somebody else going to die. I'm gonna try to save somebody else,' she said. Dr. Tummala said he would discourage patients who have a history of heart disease from using marijuana and other THC products. He said people who use marijuana or CBD for conditions such as seizures and pain control should talk to their doctor to weigh the risks versus the benefits. *WSB-TV Atlanta contributed to this report. Read: Woman whispers 'help me' to Amazon delivery driver after allegedly being choked by ex-husband Read: Marine veteran plans to sue Jacksonville Sheriff's Office after officer shoots her dog Read: Scientists genetically engineer wolves with white hair and muscular jaws like the extinct dire wolf [SIGN UP: Action News Jax Daily Headlines Newsletter] Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
Yahoo
14-03-2025
- Yahoo
More victims come forward in Redmond, WA child molestation case
The Brief A Redmond man who was previously convicted of three counts of first-degree child molestation is facing new charges after more victims recently came forward. Buckland Darrell, 45, was arrested three separate times for molesting multiple boys between 2017 and 2021. REDMOND, Wash. - A Redmond man convicted of child molestation is facing new charges after more victims recently came forward. The backstory Buckland Darrell, 45, was previously arrested three separate times for molesting multiple boys, including at the Church of Jesus Christ of Latter-Day Saints in Redmond, a Thanksgiving party in King County, and other church events and gatherings. Darrell was released on bail twice before being rearrested in April 2023. In that case, three new victims came forward and reported incidences that happened between 2017 and 2021. Each of the cases involved boys under the age of 12, with the incidents occurring near or in the presence of the victim's family members. Now, Redmond police say two new victims have come forward, and Darrell is set to be arraigned on additional charges of first-degree child molestation and first-degree rape of a child. Darrell is currently serving time for his previous three convictions of first-degree child molestation. Redmond police believe there are more minor victims, and ask anyone with information to contact the Redmond Police Department at 425-556-2500. The Source Information in this story is from the Redmond Police Department and previous FOX 13 Seattle reporting. Fire destroys, damages multiple Cybertrucks in Seattle lot Family wants justice years after Graham, WA man's death Bryan Kohberger defense ramps up legal maneuvers in bid to keep Idaho murders suspect off death row Major TSA change to shorten airport security wait times, DHS says: What to know Seattle Seahawks trade DK Metcalf to Pittsburgh Steelers To get the best local news, weather and sports in Seattle for free, sign up for the daily FOX Seattle Newsletter. Download the free FOX LOCAL app for mobile in the Apple App Store or Google Play Store for live Seattle news, top stories, weather updates and more local and national coverage, plus 24/7 streaming coverage from across the nation.
