Tax attorneys will be busy in April looking for creative workarounds and exemptions to keep their clients legal. Something similar happens year-round in the gaming industry, where a complex patchwork of laws leaves ample room for interpretation. Fantasy sports contests benefited from one such loophole. Smith School professor Steve Heston says the market quickly evolved into something much different than
Yahoo, DraftKings and Fan Duel agreed this week to stop taking fantasy sports bets in New York, which joined Texas, Illinois and four other jurisdictions that already classify the activity as an illegal form of gambling. Maryland might go the same direction with a proposed ballot measure in November. Smith School professor Steve Heston traces the growing feud to the Interstate Wire Act of 1961.
Businesses flourish in the right climate, President Obama told entrepreneurs this week during his visit to Cuba. But despite 15 months of re-established U.S.-Cuba ties, a culture gap and lingering embargo impede trade with the island nation 90 miles from Florida. Smith School professor Kislaya Prasad says some changes will come slowly, but market opportunities already are emerging.
"Twitter has a brain-drain problem, which it's fighting it by issuing stock and stock options to employees it wants to retain. Such payments come on top of the stock those employees already own, which has underperformed expectations. The expense represented by that compensation may or not be worth it, but we can all agree it's an expense, right? Actually, no. For accounting purposes, Twitter, like most tech companies, does not consider stock
Conventional wisdom in strategy holds that companies need to choose between cost-cutting or revenue growth. Pursuing both strategies at the same time can result in incoherence — or getting stuck in the middle. But that conventional wisdom is challenged by a new study from the Smith School, which suggests that firms can pursue dual-focus or "ambidextrous" IT strategies successfully.