Overstock CEO on Blockchain: 160 Industries Could be Disrupted
Overstock.com became the first major retailer to accept cryptocurrency in 2014 when bitcoin was trading under $500. Now, the company is tripling down on its bitcoin bet. Patrick Byrne, CEO of Overstock.com, was with us to explain the future of blockchain.
The Overstock.com CEO expresses why he is so bullish on blockchain. Byrne believes we can "remake society" using the technology. He believes that what the internet did to publishing, blockchain will do to 160 industries. When it comes to picking individual cryptocurrencies, Byrne is agnostic. He shares that he does not favor bitcoin over any of the others.
Wall Street has been hesitant to accept bitcoin. Byrne says it is appropriate to move cautiously and thinks firms have been reasonably defensive. He does, however, add that those who take the risk will be rewarded.
Umbilical cord blood banking platform Anja Health raised $4.5 million dollars in a seed round led by Seven Seven Six, a venture capital firm founded by Reddit co-founder Alexis Ohanian. Anja Health offers a personalized, doctor-backed cord blood bank, which lets new parents freeze stem cells from their child's umbilical cord so they can be used to treat diseases in the future. It's a process Anja has called 'Hollywood's best-kept secret,' as celebrities like Kylie Jenner, Serena Williams, and more have all banked their umbilical cord blood. Kathryn Cross, the founder of Anja Health, joins Cheddar News' Closing Bell to discuss.
Catching you up on what you missed in today's news. Elon Musk has increased his commitment to purchase Twitter to $33.5 billion, Apple is raising its hourly wages for retail stores to compete for talent, and Roblox has announced that it will be partnering with the medically prescribed video game ‘Endeavor’ to help treat patients with ADHD.
After learning that the suspect in the Uvalde school shooting posted about his intentions on Facebook, activists are urging social networks to make changes. Lena Derhally, a licensed psychotherapist and author of "The Facebook Narcissist," joined Cheddar News to discuss the role social media plays in school shootings. "They're not really invested in taking down hateful content," she said about social platforms."In regards to the shooting, it was 15 minutes before that actual threat. It would be pretty hard for a social media company to trace that threat that quickly. But what they can do better is take down threats and hateful content much faster and more than they're doing now."
Esper Bionics CEO Dima Gazda breaks down how they're creating a mind-controlled bionic hand that guest smarter the more you use it, and what this innovation means for the future of the prosthetics industry.
On this episode of Cheddar Innovates: Brightseed Co-Founder breaks down what plant bioactives are, and how they're using the latest technology to study human's biological connections with plants; Esper Bionics CEO breaks down how they re creating a mind-controlled bionic hand that guest smarter the more you use it; Cheddar gets a look at Curiosity Stream's 'Capturing A Black Hole In Our Milky Way.'
