Imagine Reinhold Messner reaching the summit of Everest only to look back at the trail of climbers behind him, and thinking: I’m going to go a little further. With that, he leaps off the top of the highest peak in the world into the vast, icy vacuum below. As he whizzes past the Hillary Step, plummeting at terminal velocity, he shouts to the horrified onlookers: “So far, so good!" This is the story of Bavaguthu Raghuram Shetty and many other tycoons like him. It is a narrative so repetitive it almost defies ...

Settlement Overview - Walmart has agreed to pay $10 million to settle charges from the Federal Trade Commission (FTC) regarding its money-transfer system, which allegedly allowed scammers to steal hundreds of millions from consumers [2][4] - The FTC accused Walmart of failing to implement effective anti-fraud measures and not adequately training employees to protect consumers from fraud [3][4] Regulatory Actions - As part of the settlement, Walmart is prohibited from providing money transfer services without taking appropriate actions to detect and prevent fraudulent transactions [4] - The company must refrain from processing transfers it suspects could be fraudulent and from assisting sellers or telemarketers involved in fraudulent activities [4] Company Position - Walmart did not admit to any wrongdoing in the settlement and characterized the FTC's case as regulatory overreach, arguing it is unfair to hold the company accountable for the actions of unrelated third-party fraudsters [5] Competitive Landscape - In related news, Walmart is focusing on enhancing its competitive position against Amazon by reimagining the consumer journey, including initiatives like shoppable ads on smart TVs [5][6] - The company aims to transform passive viewing experiences into active shopping opportunities, potentially redefining impulse buying and creating new revenue streams in retail media [6]