On Wednesday, Anderson wrote in a post titled "Gratitude" on the firm's website, "I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on," including reporting multiple cases to regulators.
"Building this has been a life's dream." But, he said, "the intensity and focus has come at the cost of missing a lot of the rest of the world and the people I care about."
Anderson launched Hindenburg in 2017 and rose to prominence in 2020 with a report saying that electric truck manufacturer Nikola Corporation had exaggerated and misrepresented its products to investors. The stock tumbled 11% in a single day, and Anderson was off to the races.
Other targets of Hindenburg's negative research and short-seller activity included Clover Health, Adani Group, and Icahn Enterprises. In each instance the entity in question saw sharp stock losses immediately after publication. The Adani Group situation was especially notable, because the market reaction to the firm's research resulted in tens of billions of dollars of lost net worth for one of Asia's richest individuals.
Unlike typical investors that seek to capture returns from rising stock prices, short-sellers bet on declines. Hindenburg carved a niche for itself by publishing negative research, often focused on highlighting what it argued to be fraudulent or misleading corporate behavior, while also positioning itself short beforehand. It's unknown how much money the firm brought in overall from its short bets.
Anderson said in his message that the firm's work held some of the most powerful companies accountable for their actions.
"Nearly 100 individuals have been charged civilly or criminally by regulators at least in part through our work, including billionaires and oligarchs. We shook some empires that we felt needed shaking," he wrote.
In the next six months, Anderson wrote that he plans to make the firm's tactics public through open-source materials and videos on their investigation process.
Anderson and representatives from Hindenburg didn't immediately respond to BI's request for comment.
The colder-than-normal temperatures in Houston are part of a larger pattern of Arctic air sweeping through Texas and much of the southern United States.
Pete Hegseth, President-elect Trump's nominee for defense secretary, faced intense questioning over his opposition to women serving in combat jobs.
U.S. Army photo by Chad Menegay
Pete Hegseth faced intense questioning over his comments about women in combat roles.
Hegseth walked back his opposition but said he'd order a review of gender-neutral standards.
The military does not have a quota for women in combat roles as Hegseth had suggested.
President-elect Donald Trump's pick to lead the Pentagon, Pete Hegseth, walked back his outspoken opposition to women serving in the US military's combat jobs as he faced intense questioning from lawmakers on Tuesday.
Hegseth, an Army veteran of Iraq and Fox News host, had built a large following with blunt commentary that criticized female troops and claimed standards had been lowered to help them. But in the Senate hearing, he signaled he wouldn't attempt to ban women from combat roles, a backtrack that may have been necessary to get enough votes.
Sen. Joni Ernst, an Iowa Republican and Iraq veteran whose support has been seen as pivotal, asked if Hegseth supports women continuing to serve in combat roles.
"Yes, exactly the way that you caveated it," Hegseth said. "Yes, women will have access to ground combat roles, given the standards remain high, and we'll have a review to ensure the standards have not been eroded in any one of these cases."
Hegseth said that if he's confirmed by the GOP-led Senate, he would initiate a review of gender-neutral standards within the Pentagon for combat jobs held by female service members.
Hegseth had been a vociferous critic of the 2015 lifting of combat exclusions for women.
"I'm straight-up just saying we should not have women in combat roles," Hegseth said in an interview after Trump's re-election in November. Combat roles include jobs in the infantry, artillery, and special operations, among others.
"They're gonna change the standards, they're gonna push the quotas," he continued during the interview. "They pushed that under Obama in a way that had nothing, zero to do with efficiency⦠with lethality," he said.
The military does not have a quota requirement for women who fill combat roles and Hegseth's claims to the contrary provoked a confrontation before the Senate Armed Services Committee.
"Commanders do not have to have a quota for women in the infantry," Sen. Kirsten Gillibrand, a New York Democrat, said during questioning. "That does not exist."
Hegseth, a former Army officer and Fox News host, said his focus would be on returning warrior ethos to the Pentagon.
Tom Williams/CQ-Roll Call via Getty Images
According to Military.com, almost 700 female Marines currently serve in infantry jobs, over 700 serve in the Navy's submarine forces and nearly 4,000 in the Army hold combat-related jobs. Roughly 98% of the Army's armor and infantry jobs were held by men as of 2020.
Since opening ground combat jobs to women in 2015, critics have contended that women who passed notoriously grueling training is a result of lowered physical standards, putting combat missions at-risk of catastrophe.
Ground combat roles were opened to female service members only after years of war in Iraq and Afghanistan in which women routinely found themselves in a grey zone, operating outside the wire at a time when restrictions on women in combat at times burdened units with bureaucratic red tape.
In the hearing, Hegseth emphasized his focus would be on the Defense Department's warrior ethos and making troops and the arms they carry even deadlier, implying that his earlier opposition to women stemmed from concern over fair and rigorous standards.
"Our standards will be high, and they will be equal β not equitable, that is a very different word," Hegseth said in his opening statement. "When President Trump chose me for this position, the primary charge he gave me was to bring the warrior culture back to the Department of Defense."
Since women began attending sought-after training schools, allegations have popped up about unequal treatment. Military news site Air Force Times reported in 2021 concerns from a female student at the Air Force's special operations course who questioned whether course standards were lowered for her.
The US Army has repeatedly said it did not lower standards for female soldiers at Ranger School, over 100 of whom now wear its coveted tab on their sleeve.
Jason Koerner / Getty Images / Prince Williams / Wireimage
Drake sued his own label, UMG Recordings, Inc, alleging defamation.
He accused the label of approving and publishing Kendrick Lamar's diss track, which the suit said included false and dangerous allegations.
UMG said it is fighting the case to protect other artists for "having done nothing more than write a song."
Drake filed a lawsuit against his own label, UMG Recordings, Inc., amid his ongoing beef with Kendrick Lamar.
The rapper, whose full name is Aubrey Drake Graham, accused Universal Music Group of approving and publishing Lamar's diss track "Not Like Us," which the complaint says includes allegations that UMG "understood were not only false, but dangerous."
The song "falsely accuses Drake of being a pedophile and calls for violent retribution against him," according to the lawsuit filed in the US District Court for the Southern District of New York on Wednesday.
"Even though UMG enriched itself and its shareholders by exploiting Drake's music for years, and knew that the salacious allegations against Drake were false, UMG chose corporate greed over the safety and well-being of its artists," Drake, through his attorneys, stated in the lawsuit.
Representatives for Drake and UMG did not immediately respond to Business Insider's request for comment.
UMG told The New York Times that it intends to fight the lawsuit to protect other artists for "having done nothing more than write a song."
The complaint pointed to one incident in May in which someone opened fire outside his Toronto home, striking the front door and wounding a security guard, who the lawsuit described as "one of Drake's friends."
In the days following, the lawsuit said there were two attempted break-ins at his property, one of which involved an individual who dug under the property's gate with his bare hands and "managed to yell racist slurs and threats against Drake before being escorted off the property."
The complaint underscored that Lamar was not named as a defendant. It said UMG's actions in publishing the track were the cause of the string of incidents.
The complaint further said that UMG did not help Drake when he confronted company executives about the situation.
This story is developing. Check back for more information.
fotograzia/Getty, Richard Drury/Getty, Imgorthand/Getty, Tyler Le/BI
Teens say that TikTok has a culture that other apps can't replace.
Many of them became emotionally attached to the community during the pandemic.
Some teens are pushing back on the ban by seeking out other Chinese apps.
Over the past few weeks, Madeira Semins, 18, has spent a lot of time thinking about TikTok βand experiencing a range of emotions about the possibility of the platform going away.
"It's a coping mechanism for many people in my generation," Semins, who attends college in Ohio, told Business Insider. "It seems dramatic to say that I feel uncertain about what my life will look like without TikTok in it, but it really has been such a quiet influence that I didn't even realize was happening until I started to think about what I'd do without it."
Last week, the Supreme Court heard testimony on a law that requires TikTok's parent company, ByteDance, to sell its US operations by January 19 or face a ban. Unless the Supreme Court intervenes, ByteDance plans to end US access to TikTok on that date.
While some teens say they'll simply move to other social media outlets, others are frustrated by what they see as a lack of understanding about TikTok's role in their communities, as well as overreach by the federal government.
A generation uses it to interact with the world
Like many teens, Semins and her 16-year-old sister started turning to TikTok during the pandemic when they were isolated at home. The app kept them "sane and in touch with the world," she said.
Since then, the app has become an easy way for her to connect with her peers both online and in person, serving as a source of memes and trends that it seems everyone knows.
"Losing TikTok seems like it has immense potential to drastically change the ways my generation interacts with the world and each other," Semins said.
Not just a way to pass time
Elizabeth Conley, a 19-year-old from Indiana, uses TikTok for her work with BridgeUSA, a multi-partisan student movement that promotes diverse voices in politics.
"TikTok isn't just a way to pass the time; it's been a huge tool for engaging with people on campus and raising awareness about important issues," she said. "Losing that platform would mean rethinking our outreach strategy entirely."
Conley also uses TikTok for humor and quick connection with peers by laughing over memes or popular trends. But she says the platform also helps her "discover new ideas and creative content that sparks conversations with people I care about."
Some teens are turning to RedNote in protest
Rayyan Ahmed, 19, says he uses TikTok as a "low-effort way to keep constant communication" with friends. Now, he sees his peers taking a critical look at the idea of the government banning an app.
"There's a popular sentiment about the app that the government should focus on stronger data privacy laws instead of banning one certain app," said Ahmed, who lives in New Jersey.
Some teens he knows are moving to another Chinese app, RedNote, in "defiance of the ban," Ahmed said, adding that he believes teens are moving there because the app is Chinese.
Given that, Conley wonders if the TikTok ban will have the desired impact.
"I'm not sure a ban would fully achieve its goals because people might just find other ways to access TikTok or turn to different platforms without really addressing the underlying issues," like concerns about security and the influence of social media on youth, she said.
Ahmed himself hasn't transitioned to RedNote, and said he'll likely just spend more time on Instagram Reels. Many of Semins' friends also plan to switch back to Instagram Reels, but that app has a different feel for her. Whereas TikTok was purely for her friends and peers, former teachers and adult friends of her family follow her on Instagram.
"I can't imagine myself posting TikTok-inspired reels to the same audience," she said. "Part of what makes TikTok so successful, in my opinion, is that it has always been a more casual space, and I'm not confident in Instagram's ability to integrate that playfulness successfully."
The ban could isolate disconnected teens
Jackson Jordan, 15, told Business Insider that there's no other social media platform that matches the opportunities to connect with peers that TikTok has given him.
Jordan's mom, Titania, is Bark Technologies' chief parent officer and founder of Parenting in a Tech World. She's talked with him extensively about misinformation, addictive algorithms, bullying, digital footprints, and other online dangers, but she's also allowed him to be "very active" on TikTok, she said.
Although Jordan is clear-eyed about the dangers of TikTok, he and his mother both also see the app's potential, from allowing content creators to build careers to creating connections for teens. Losing that concerns Jordan.
"This ban would further isolate an already disconnected generation of internet users, including myself," he said.
Jordan doesn't think the government should have the right to do that.
"I feel upset," he said. "It is an unfair violation of our right to free speech. Banning TikTok isn't a matter of national security; it is outright government censorship."
Some teens are ambivalent about the ban
Not all the teens that Business Insider spoke to are as concerned about the potential ban. Aidan O'Donnell, 18, has already started migrating from TikTok to Instagram Reels.
"I honestly don't care now" about TikTok's future, O'Donnell said.
Semins and her friends hope they'll spend more time offline if TikTok goes away.
With the app on all of her friends' phones, she often finds herself scrolling side-by-side as her friends do the same.
"In those moments, I often wish we were talking instead or doing something more collaborative and interactive," she said. "The app is just so addictive, and the algorithm is so personalized that it can feel almost impossible to just stop."
