SoftBank cuts Chinese deals - Robinhood's new $140M buy - The rich keep borrowing
On the agenda today:
- SoftBank's founder announced the company will cut investments in Chinese startups.
- Robinhood just announced a $140 million deal for a proxy voting startup.
- Wealthy Americans are taking out more loans they don't need - a trend experts don't expect to slow down.
Let's get started.
Amid Beijing's ongoing crackdown on the private sector, SoftBank's founder Masayoshi Son said the company will cut investments in Chinese startups pending further regulatory clarity. Here's what we know so far.
Robinhood announced the deal with Say Technologies, a startup focused on increasing proxy voting, as meme stocks struggle to get participation from retail investors. We explain what proxy voting is - and why it's taken center stage in recent months.
Loan growth has slowed at
Fintechs are increasingly poaching Wall Street talent, and Brex is the latest to do so. The San Francisco-based company just hired Kome Emuh, a former Goldman Sachs VP, as its chief of staff for engineering. More on that here.
Private equity remains one of the most competitive jobs on Wall Street. The high-risk, high-reward world of PE is an attractive option for young bankers and recent grads - and has only gotten more cutthroat over the past year. From the recruiting timeline to interview tips, here's how to land a job at firms like Blackrock and KKR.
Rahul Vohra, the cofounder and CEO of email startup Superhuman, raised $75 million for his company, with IVP leading the round and Tiger Global also participating. He explains the differences between the two, and how Tiger's approach makes it so successful.
BitClout, a platform that lets people buy crypto coins attached to social-media stars, was both a sensation and a controversy when it launched this year. As people debated whether it really was the future of crypto, its anonymous founder secured at least $40 million in investment from firms like Andreessen Horowitz and Sequoia Capital. Here's why VCs gambled on BitClout.
Wells Fargo Strategic Capital, the bank's principal investing division, has hired Credit Suisse's Inessa Even to help oversee capital markets and wealth management tech investments. More on her new role.
On our radar:
- A Morgan Stanley survey found that most interns favor flexible work, Bloomberg reports. But CEO James Gorman is still encouraging a return to the office.
- Coinbase's capital-markets head Brett Redfearn has left the company, according to the WSJ. He left after about four months on the job.
- Per Bloomberg, Citigroup will require vaccines for all workers returning to the office. What we know about the decision.
- We have the 12-page pitch deck that LawVu, a startup that wants to be Salesforce for lawyers, used to nab $17 million from investors like Insight Partners. See it here.
- JPMorgan has revamped the rewards on its Chase Sapphire cards, according to Bloomberg. Get details on the new rewards.
- NAB will acquire Citi's consumer business in Australia for $1.2 billion, per the Australian Financial Review. More on that here.
- I took a new job in a remote location after my divorce. There aren't many people to date, but I'm happy staying single.
- Elon Musk hits out at viral videos of DINK couples, saying there's an 'awful morality' to those who choose not to have children
- Married couples often share high blood pressure, study shows
- 8 Irresistible seasonal snacks to warm your winter days
- Vijay Shekhar Sharma says 'Wed in India' is a good idea for its food options
- NCLAT stays CCI penalty on NTPC in Ratnagiri Gas & Power shares issue
- A Japanese Start-Up Is Testing a Rocket Powered Entirely By Rocket Fuel Created From Cow Dung!
- Amazon sues scammers for stealing millions of dollars via fake returns