Biden's Treasury pick — Privacy concerns for on-demand pay — Legal-tech deals

Biden's Treasury pick — Privacy concerns for on-demand pay — Legal-tech deals
Trader Peter Mancuso prepares for the day's trading, on the floor of the New York Stock Exchange, Thursday, March 5, 2020. (AP Photo/Richard Drew)Associated Press

Happy Friday!

It's been quite the week, which is often the case this time of year as people look to wrap things up before the holidays. However, one big bit of news could still be yet to come.

President-elect Joe Biden told reporters he's made his pick for who he will nominate for Treasury secretary, adding that the decision will be announced "either just before or just after Thanksgiving."
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Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.

Privacy concerns over early-paycheck cashouts

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Earned wage access, or the ability to pay employees as they earn money as opposed to during set pay periods, is all the rage these days.

What started off as a fringe offering by a handful of startups has evolved into a red-hot trend that even the biggest payroll providers are offering. However, one major issue remains: Employees don't want their employers knowing they want early access to their wages.
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Shannen Balogh has a really nice look at customers' fears over privacy, and how EWA providers are looking to assuage those fears.

Click here to read the entire story.

Affirm's IPO paperwork shows Peloton sales are a crucial part of the buy now, pay later fintech's business

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We touched on this briefly on Thursday, but the Affirm, Max Levchin's buy now, pay later startup, posted the paperwork for its initial public offering, known as an S-1. One interesting detail: A good chunk of Affirm's revenue is tied to Peloton sales. Read more from Shannen Balogh here.

Legal-tech startups are catching the eye of Docusign and other big strategic investors. These 21 deals showcase how a huge consolidation wave is underway.

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Legal tech is getting plenty of attention these days. Yoonji Han and Samantha Stokes took a look at 21 deals that have taken place in the market over the past few years. Read more here.

Odd lots:

Here are the investors that are set for a windfall as DoorDash heads for an IPO, from asset managers like Fidelity to a retirement plan for Costco employees (BI)
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Perella Weinberg to Seek Listing Via Blank-Check Firm (Bloomberg)

Banks May Be Office Landlords' New Problem Tenants (WSJ)

Car Insurers Struggle to Track Driving Behavior. GM May Have a Better Way to Do It. (WSJ)
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TikTok Teens Follow New Stars: Senior Citizens (WSJ)

UBS Wealth Picks Ex-Chicago Bear to Lead Athlete Segment (ThinkAdvisor) I'm a professional cuddler who gets paid up to $100 an hour for a cuddling session. Here's how I got started, and how I transitioned to video sessions during the pandemic. (BI)
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The CEO of Quadpay lays out why the buy-now, pay-later fintech is pushing into the 'overlooked' world of browser extensions to get a leg up on the competition (BI)

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