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Hello everyone! Welcome to this weekly roundup of Business Insider stories from co-Editor in Chief Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday.
Read on for more on the dark secret at the heart of the yachting industry, a profile of playboy turned pragmatic media mogul Jay Penske, and an interview with Nxivm survivor India Oxenberg.
I want to start by highlighting three in-depth stories we published in the past 24 hours.
Yacht crew members describe rampant harassment
From Hillary Hoffower:
At the core of the yachting industry, which portrays a glamorous lifestyle of working in paradise on multimillion-dollar vessels, may be a dark secret: a rampant sexual-harassment problem.
About 65% of yacht crew members who responded to a 2018 survey by the Professional Yachting Association said they had witnessed or been aware of an incident of physical or verbal sexual
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© Daniel Boczarski/Getty Images for Quibi
Jeffrey Katzenberg. Daniel Boczarski/Getty Images for Quibi
- Quibi, the mobile-video startup that raised $1.75 billion from backers like Alibaba Group, JPMorgan Chase, and Disney, is folding six months after debuting its subscription service.
- The Jeffrey Katzenberg-founded startup said in a statement that its demise was likely caused by a combination of an idea that wasn’t strong enough and poor timing.
- But Quibi’s failure ultimately comes back to a slate of content that did not break through with its target audience of 25- to 35-year-olds.
- That falls on Katzenberg, who insiders previously told Business Insider was hyper-involved in programming decisions, from greenlighting shows to ground-level decisions like casting and wardrobe.
- Visit Business Insider’s homepage for more stories.
During a pandemic in which streaming viewership boomed, mobile-video service Quibi lasted only six months.
The Jeffrey Katzenberg-founded startup, which raised $1.75 billion in funding, said