Lots of fascinating money-related reads this weekend:
+ Start-up with a dumb name (“Beltology”) thinks it can make men’s belts the next pocket square:
Mr. Heffernan, 40, approached the exercise in a way that befits an M.B.A. who had spent a year working at Bain Consulting. “We looked at the numbers, which were just staggering,” he said. “Socks, particularly colored socks, were up, gloves were up, scarves were up, even ties were up.” Everything was up, that is, except belts. “We thought, surely this is a sleeping giant,” he said.
In January, the couple launched Beltology, an online-only brand devoted to giving the least-noticed, least-talked about and least-fetishized accessory in menswear its proper place of worship. “We want to do for belts what Swatch did for the wristwatch back in ,” said Mr. Heffernan.
+ Progressive Manhattan private school, one that is actually and not just theoretically multi-cultural, takes children on field trips to their own very different houses:
The anonymous thought-sharing app Secret, which is strong enough for a man but PH-balanced for anyone with a smartphone and opposable thumbs, raised a huge amount of money for expansion purposes by branching out beyond the tech world.
the company also announced on Monday that it raised an additional $25 million in venture financing from a number of esteemed firms and angel investors, including Index Ventures, SV Angel and Fuel Capital. Previously, it raised $10 million. The new funding puts the valuation of Secret, a six-month-old company, at higher than $100 million.
The news reminded me of, and made me nostalgic for, Postsecret, the wistfully adorable mechanism through which people made art out of short, intimate confessions sent through the mail. Scrolling through the site, I was struck by how many admissions relate to money, one way or another:
Looks like Aereo is a no-go: the Supreme Court has ruled that the start-up, which aims to disrupt the Cable Cabal that is ruining our lives, violates copyright laws unless it pays networks for content.
The Supreme Court delivered a major victory to the nation’s television networks on Wednesday, ruling that an upstart Internet company is violating copyright laws by transmitting programs without paying hefty licensing fees. In a 6-to-3 decision that kept the TV industry’s business model essentially intact, the court said that Aereo — a two-year-old start-up that streams shows to tablets, laptops and other devices — must pay the networks for content, as cable systems do. …
The decision dealt a potential death blow to Aereo and could discourage millions of consumers who have been increasingly clamoring for the type of service the company provides — sports and other live television streamed online, without the cost of a cable television bundle. If the ruling had gone the other way, it could have upended a television industry that has grown fearful of the disruptive force of Internet video. Aereo chief executive Chet Kanojia called the decision “a massive setback for the American consumer.’’
CNN, channeling the Princess Bride, calls Aereo “essentially dead” and can’t come up with real alternatives beyond the obvious: Roku boxes, Hulu, digital antennae. RIP, Aereo, unless you come back to storm the castle! You were a good idea.