article thumbnail

How Blockchain Is Changing Finance

Harvard Business Review

To wit, 45% of financial intermediaries , such as payment networks, stock exchanges, and money transfer services, suffer from economic crime every year; the number is 37% for the entire economy, and only 20% and 27% for the professional services and technology sectors, respectively. How technology is transforming transactions.

article thumbnail

An Insider’s Account of the Yahoo-Alibaba Deal

Harvard Business Review

In November 2003, after due diligence, we announced our agreement to purchase 3721 for $120 million. Zhou departed in 2005 and went on to found Qihoo 360 Technology, a $12 billion company that now trades on NASDAQ. Wulf noted that Ma studied Jack Welch’s approach and was inspired by GE’s decentralized decision-making.