• WeWork is delaying the timeline for its initial public offering plan amid a wave of criticism in recent weeks, including complaints over a deal under which the company paid Neumann $5.9 million for use of the word "We."
• WeWork's board of directors includes former officials at Coach, Goldman Sachs, and Uber, along with top private equity and venture capital executives...

Helios and Matheson Analytics (HMNY) announced Friday that it will shut down MoviePass on Saturday.

The movie-ticket subscription service along with Moviefone and MoviePass Films, which are all owned by HMNY, will be up for sale, according to a press release...

• WeWork is mulling whether to reduce CEO Adam Neumann's power to make its planned public offering more attractive to potential investors, The Financial Times reported.
• The company and its advisors are considering whether to reduce Neumann's voting power from the 20 votes per share that he has now.
• It's also debating whether to remove his wife, Rebekah Neumann, from her role in naming a successor to her husband if he dies or becomes debilitated...

• Oracle is in the middle of an interesting lawsuit in which its own board committee has given approval for a shareholder-initiated lawsuit to proceed on behalf of the company against its chairman Larry Ellison, CEO Safra Catz and other board members.
• The suit alleges that Oracle's directors greatly overpaid when they crafted a deal to buy NetSuite for $9.3 billion in 2016.
• NetSuite is a company that Ellison cofounded and controlled with about a 40% stake...

• WeWork, in its public offering documents, disclosed a slew of related-party transactions involving CEO Adam Neumann, his wife, and various family members.
• But the company didn't disclose a collection of deals involving the family members of other company officials, according to a report in the Wall Street Journal...

Cloudflare, a security startup that protects websites from attacks and helps pages load quickly, set a price range for its upcoming IPO, which could value the San Francisco company as high as $3.5 billion...

• Like many startups that have gone public recently, Peloton will have a stock structure that gives extra votes to certain insiders.
• Many companies with such arrangements give insiders 10 votes per share, but Peloton CEO John Foley and some early investors in the fitness firm will get 20 votes per share.
• At least as things stand now, Foley wouldn't have majority control by himself, because he's not the biggest holder of super-voting shares...

• In 1997, Amazon issued its first letter to shareholders. It has since become infamous in the tech industry, and core to Amazon's origin story.
• It laid out Amazon's long-term goals, and stressed to investors the importance of focusing on long-term value over short-term returns — a strategy since adopted by many major internet companies, from Uber to WeWork.
• The letter is signed by Amazon CEO Jeff Bezos, and has always been attributed to him...

• Better.com CEO Vishal Garg told Business Insider he'd like his rapidly growing mortgage-tech company, which just closed its Series C, to tap the public markets in two to three years.
• He criticized the trend among startups of delaying an IPO in favor of basking in the private markets, likening it to a college victory lap that stunts maturation.
• "It'd be kind of like staying in college six years rather than four years. It's a lot more fun. Nobody's watching...

• A three-member committee of Oracle's board has written an extraordinary letter to a Delaware court.
• The letter, dated August 15, grants permission for a shareholder-initiated lawsuit to proceed against Oracle founder and chairman Larry Ellison, as well as one of Oracle's co-CEOs, Safra Catz.
• This is a "derivative lawsuit" meaning it was filed on behalf the company against the directors...

• WeWork's CEO was paid nothing in 2018, the company said in its initial public offering filing on Wednesday.
• Adam Neumann is worth an estimated $4.1 billion after founding the company a decade ago.
• WeWork, the $47 billion co-working company, is going public. Here's everything we know about what's going on.

• For the second year in a row, Oracle's board has told investors that its trio of top execs — CEO Safra Catz, fellow CEO Mark Hurd, and CTO Larry Ellison — won't be getting their all of their bonuses.
• The company says they didn't meet the business objectives, including specific cloud computing revenue targets.
• And for the second year in a row, this loss of bonuses is a bit of a red herring...

• Capital One says it was hit with a data breach, affecting an estimated 100 million US individuals and approximately 6 million in Canada.
• Paige A. Thompson, a former software engineer, was arrested Monday by FBI in Seattle.
• She appeared in court and was charged with a single count of computer fraud and abuse, which carries a sentence of up to five years in prison and a $250,000 fine...

• The SEC is stepping up scrutiny of mutual funds that hold investments in private companies, according to three people with knowledge of the agency's discussions.
• Officials have reached out to mutual fund managers and others, asking for input into whether the regulator is doing enough to protect retail investors from the risk that comes from allowing mutual funds to invest in private companies, the people said...

The agreement Facebook struck with the Federal Trade Commission this week to end the agency’s investigation into its alleged privacy violations was a good deal for the company. Facebook can easily afford the $5 billion penalty, and the FTC could have legitimately assessed it a much higher fine. The supposed restrictions in the agreement on its business are fairly meaningless – they generally don’t limit its ability to collect personal data from consumers...

• Ariana Huffington and Matt Cohler have resigned from Uber's board of directors, the company said Wednesday.
• Huffington joined the board in 2016 at the request of the ousted founder Travis Kalanick.
• Their departures were not acrimonious, the company said.
• Visit Business Insider's homepage for more stories.

Ariana Huffington and Matt Cohler are leaving Uber's board of directors effective immediately, the company said Wednesday...

• The Federal Trade Commission just slammed Facebook with a record $5 billion penalty over its handling of user data following the giant Cambridge Analytica breach last year.
• Facebook said last month that it had set aside $3 billion to $5 billion for the settlement...

• An executive of an oil-and-gas company that Warburg Pincus just backed is the brother of one of the private-equity firm's energy-focused managing directors, Business Insider has learned.
• The unusual situation, a potential conflict of interest, meant that Warburg managing director David Habachy could not be involved in decision-making on the deal, according to a person familiar with the matter...

• Jeffrey Epstein, the financier charged with sex trafficking minors, was the sole director for private equity giant Leon Black's family foundation for more than a decade, tax filings seen by Business Insider reveal. Epstein stayed on even after pleading guilty to soliciting prostitution.
• Black co-founded $247 billion Apollo Global Management. He and his wife started a foundation in 1998 that donates to groups including a charter school network and religious organizations...

• Deutsche Bank announced that as part of a "radical transformation," it's cutting 18,000 jobs by 2022.
• The bank says it's dropping its stock sales and trading unit, and creating a new "Corporate Bank" to focus on commercial and corporate clients.
• The bank also announced that Chief Regulatory Officer Sylvie Matherat and retail head Frank Strauß will be leaving the company...

Dear readers,

Slack's non-IPO was no doubt the big story of the week, with its success leading some to predict the market could soon see many more direct listings.

Colin Stewart, Morgan Stanley's lead banker on Slack's public debut, told Bloomberg we could see as many as five direct listings in 2020. To put that into context, the only two high profile direct listings in the last two years have been Slack and Spotify...

• Tesla CEO Elon Musk had harsh criticism of ousted Tesla co-founder Martin Eberhard over the weekend.

• In a now-deleted tweet, Musk said "Tesla is alive in spite of Eberhard, but he seeks credit constantly & fools give it him."
• The billionaire also tweeted that he had deleted his Twitter account (which was not true as of Monday morning), and received criticism for comments about the necessity of crediting artists for their work...

Elon Musk got ‘paid’ $2.3 billion last year but actually earned $0, and this shows how complicated CEO compensation has become By - June 11, 2019 A recent report from The New York Times indicated that Tesla CEO Elon Musk received stock options worth nearly $2.3 billion in 2018, more than 17 times the reported compensation of the next-highest executive on the list.

There's a record number of women on the boards of Fortune 500 companies. Racial and ethnic minorities, not so much. Allana Akhtar twitter Women filled 183 of the 462 open board room positions at Fortune 500 companies , according to a new report. Racially diverse candidates did not see the same gains, though. African-American candidates filled just 11% of new board seats. Greater diversity in leadership leads to fewer errors and greater innovation, according to research.