The number of partners to leave Goldman Sachs since David Solomon took over as CEO just hit 90
It’s been a busy summer for Goldman Sachs’ partner departures. Two more farewell memos went out on Tuesday, including for Lisa Opoku and David Rusoff. The bank said goodbye to Julian Salisbury and Takashi Murata on Friday. David Solomon may want to forget this summer. Just weeks after reporting a 58% drop in profit, Goldman…
Union Square Ventures slashed the value of 7 of its funds by 26%. Insiders say this will be the ‘start of a cascade’ of lower valuations for VC funds.
Union Square Ventures is widely considered to be one of the top performing venture firms of all time. USV marked down seven of its funds by nearly 26% this year, a far steeper writedown than other firms. Insider obtained the data through a public-records request. Returns are usually a closely guarded secret. Union Square Ventures,…
A Wall Street titan who called the 2008 recession shares 7 top trades to make before the US economy enters into another downturn with stocks ‘priced for perfection’
David Rosenberg says the US economy is headed for a recession. He said stocks were priced for a perfect soft-landing scenario even if a recession was avoided. He said he liked Treasurys, Japanese stocks, utilities, REITs, banks, and telecommunications stocks. According to David Rosenberg, a renowned economist who predicted the 2008 recession, the US economy…
Paper, the online tutoring unicorn, just had a second round of layoffs. The cuts come a year-and-a-half after raising $270 million in Series D funding.
Paper, an edtech unicorn focused on online tutoring for K-12 students, has laid off staff. The startup raised $270 million in Series D funding last year but had recently come under scrutiny. The cuts come as edtech startups are facing increasing pressure amid a downturn. Insider has learned that the Canadian online tutoring startup Paper…
Dropoff in venture capital funding triggers uptick in pre-emptive deals with investors desperate to back the hottest startups
Venture capital funding was cut in half in the first six months of 2023, according to Crunchbase. The dropoff has triggered an uptick in pre-empted deals, where investors back the most exciting startups. Payrails, Cello, and ElevenLabs are among the startups to close pre-emptive deals this year. In 2023, venture capital funding for startups has…
Here are the 9 smartest ways to invest in artificial intelligence right now, according to Bank of America, Morgan Stanley, and UBS
Some on Wall Street are concerned that investors are becoming swept up in the hype surrounding artificial intelligence, but three top investment firms are increasingly confident that AI will live up to its lofty expectations. Bank of America, Morgan Stanley, and UBS are more bullish on AI stocks after expressing reservations earlier this year as…
54% of influencers have already posted Threads sponsored content, according to a new report. Here are 3 other key takeaways about the new Twitter rival.
Threads’ engagement is down, but influencers and brands are still very active on the platform. A new Izea report found 54% of influencers said they’d already posted sponsored content on Threads. Here are four Threads-related takeaways from the survey of about 1,200 social-media users. While the number of daily active users on Threads has dropped…
Hopin, last valued at $7.8 billion, has sold its flagship virtual events business with founder set to step down as CEO
Hopin, last valued at $7.8 billion, said on Wednesday it has sold its virtual events business. RingCentral has acquired Hopin’s Events and Sessions product for an undisclosed fee. Hopin founder Johnny Boufarhat is also set to depart his role as CEO next month. Hopin, one of Europe’s fastest-growing startups in history, announced on Wednesday that…
A publicly traded media venture with ties to MoviePass’ former chairman has been suspended from Nasdaq and its stock is in free fall
Embattled digital-media company Vinco Ventures has been suspended by Nasdaq after a board exodus. It became a meme stock in 2021 after teaming up with the ex-chairman of MoviePass and touting buzzy acquisitions. Some of those deals have since faced hurdles and the stock has plummeted. Vinco Ventures, the publicly traded media venture with ties…
