Defunct American financial services firm
Nick Robinson talks to the director general of the Confederation of British Industry, Tony Danker. They discuss what it was like to grow up in a Jewish family in Belfast during 'The Troubles', why he chose to join the Treasury three weeks after Lehman Brothers collapsed in 2008 and how his calls for post-Brexit Britain's economy to grow more led to ministers accusing him of talking the country down.
Host Colbert Cannon sits down with Aldo Mazzocco, the Chief Executive Officer and General Manager of Generali Real Estate SpA for a discussion full of lessons for business and life. Aldo shares his path to real estate investment as he moved from general manager of a construction company to eventually run Beni Stabili SpA. There, he more than doubled the Italian real estate company's portfolio before overseeing its merger with Foncière des Régions to create what is now Covivio. Then, Aldo discusses his move to Generali Real Estate, where he was tasked with modernizing the business and creating a viable third party asset management strategy. He talks about the challenges of building something new in a business more than 190 years old. Aldo also shares how he managed his team during the Covid-19 crisis as it roiled the commercial real estate industry, drawing deeply from his past handlings of the Lehman Brother crisis, the European sovereign debt crisis and Italy's triple dip recession. And he offers up one incredibly sound piece of advice sourced from the Dolomites in northeast Italy that still guides him today. Learn more about Aldo Mazzocco's tenure at Generali Real Estate here. You can find out more about Generali's philanthropic housing initiative, The Human Safety Net, here.
This week, we're thrilled to welcome a brand-new guest to the Stansberry Investor Hour... who happens to be the lead analyst for Stansberry Research's longest-running flagship publication: Alan Gula. But first, Dan and his co-host Corey discuss the latest hot-button topics: Big Tech's sweeping wave of layoffs, why media coverage of the "debt-ceiling crisis" is just "pure noise," the "cat-and-mouse game" of the lag effects of Federal Reserve policy, and whether there could be an encore to last year's bond-market beatdown. Speaking of distressed investments... today's guest had a front-row seat to the financial crisis, as he was working Barclays Investment Bank's distressed-debt desk when Lehman Brothers filed for bankruptcy. Alan worked at some of Wall Street's biggest firms before joining Stansberry Research. "I think that any good recommendation has a good macro tailwind. And cycles are crucial from a macro standpoint," says Alan. But finding a winner requires more than just the right macroeconomic setup... As Alan states, it's one that "marries both the macro and the bottom-up fundamentals research." He dives deep into his bottom-up research process. And he also shares his No. 1 tip for successful investing.
Der Januar vor 15 Jahren ist kein guter Monat für Aktienbesitzer. Am 21.01.2008, dem "Schwarzen Montag", kommt es beim DAX zum größten Tagesverlust seit den Terroranschlägen vom 11. September 2001. Doch dass sich in den schwachen Börsenwochen der Beginn einer langen Weltwirtschaftskrise mit gigantischen Bankpleiten und nie dagewesenen staatlichen Rettungsschirmen abzeichnet, ahnen zu dem Zeitpunkt die wenigsten. Autor: Kay Bandermann Von Kay Bandermann.
On this edition of Parallax Views, economist, geopolitical financial expert, and investigative journalist Nomi Prins joins us to discuss her new book Permanent Distortion: How Financial Markets Abandoned the Real Economy Forever. Nomi began her career in the world of finance and Wall Street working for Goldman Sachs, Bear Stearns, Lehman Brothers, Chase Manhattan Bank. Since then, however, she has become an investigative journalist that's been exposing wealthy inequality and the intersection between money, influence, and power that defines the divide between Wall Street and Main Street. In her latest book, Nomi details how the Federal Reserve and quantitative easing policies has led to a "permanent distortion" of the real economy and a dearth of easy, free money for the ultra-wealthy. Among the topics covered in this conversation: - Nomi's background and transition from Wall Street to investigative journalism - What does Nomi mean by "Permanent Distortion" - Explaining quantitative easing and the Fed - The 2008 financial crisis - Trump, China, and trade wars - The rise of populism in an age of disenfranchisement - Wall Street vs. Main Street - Explaining the real economy - The 4 phases of the book: chaos, addiction, overdrive, and metamorphosis - Cryptocurrency, the Robinhood app, r/WallStreetBets, and the permanent distortion era - The mega asset management company Blackrock - The average American household and the stock market; about 10-15% owns 85% of the stock market; although many American don't have a stake in the stock market they can still be impacted by it - And much more!
Unless you were already in the sector, topics within the manufacturing and supply chain industry were probably not on the radar for most people. As consumers, when you went to the store, you bought what you needed and that was that. However, people became very aware of the importance that these industries play in our lives during the pandemic when everything changed. Supply chain and manufacturing issues were the topics of the nightly news as shelves were bare with lots of essential items missing or purchasing a new car was almost impossible due to inventory shortages. Even though technology has helped these industries evolve over time, there is still a massive opportunity for disruption within the manufacturing and supply chain industries. It is a topic that Colin is thinking deeply about in terms of making investments and we start out our conversation with a discussion around the trends and opportunities for technology to make an impact to these sectors. Two Sigma Ventures is an early stage venture firm that was started in 2012 under the Two Sigma umbrella. The firm has made over 100 investments across many industries. In this episode of our podcast, we cover: * Colin's professional background including how he gained experience in the tech industry and then as an Investment Banker at Lehman Brothers. * What led him down the path of early stage investing and starting Two Sigma Ventures. * An overview of the firm today including portfolio examples. * His decision making criteria for making new investments. * How the tech scene has evolved in NYC. * And so much more. If you like the show, please remember to subscribe and review us on iTunes, Soundcloud, Spotify, Stitcher, or Google Play.
Vous vous souvenez de 2008 ? Mais siiii, l'année où la finance mondiale a vacillé : le scandale de Lehman Brothers, la crise des subprimes, l'affaire Kerviel... Boris Picano Nacci était trader à cette époque. Et à l'instar de Jérôme Kerviel, sa banque s'est retourné contre lui. Pour Thune, il a accepté de revenir sur son parcours, émaillé d'une sacrée descente financière. Sa chute l'a-t-elle brisé ? Vous risquez d'être supris.e...
Join Af as he interviews Ed Hajim about his memoir, a powerful story touched with family trauma, deprivation, and adversity balanced by a life of hard work and philanthropy! On the Road Less Traveled is the inspirational story of Edmund A. Hajim, an American financier and philanthropist who rises from dire childhood circumstances to achieve professional success and personal fulfillment. At age three, Hajim is kidnapped by his father, driven from St. Louis to Los Angeles, and told that his mother is dead. His father soon abandons him in order to seek employment—mostly in vain—leaving his son behind in a string of foster homes and orphanages. This establishes a pattern of neglect and desertion that continues for Hajim's entire childhood, forever leaving its mark. From one home to another, the lonely boy learns the value of self-reliance and perseverance despite his financial deprivation and the trauma of being an orphan. As time passes, Hajim displays a powerful instinct for survival and a burning drive to excel. A highly motivated student and athlete, he earns an NROTC college scholarship to the University of Rochester; serves in the United States Navy; works as an application research engineer; then attends Harvard Business School, where he finds that the financial industry is his true calling. So begins his rapid ascent in the corporate world, which includes senior executive positions at E. F. Hutton, Lehman Brothers, and fourteen years as CEO of Furman Selz, growing the company more than tenfold. He also creates a happy and abundant family life, though he never forgets what it means to struggle. At age sixty, he is reminded of his painful past when a family secret emerges that brings the story full circle.
In this episode, Troy interviews Joe Rockey, he's involved with multiple real estate entities as an owner or equity partner. Joe's based in Pittsburgh, United States of America. He graduated with a degree in Accounting and Finance from Duquesne University, because he believed every business needs to know how to get money, and financing is one of the ways of doing it. In the middle of some form of economic recession. Joe was a financial advisor at AXA Equitable before diving into the world of real estate. He started flipping houses, earning $3 million at the end of the third year. Shortly after, Joe decided to commit to the rental model; now, handling 40 units, almost on the fly with little to no stress. On day one of starting out; according to Joe, it is critical for a small-medium business owner to have a strong mentality, that you're going to stick with the vision you have in mind. “It's going to work. Just believe in yourself at work.” This Cast Covers: Who is Joe Rockey? How Troy and Joe knew each other? Field of business Joe Rockey is present in. The collapse of Lehman Brothers. Joe Rockey's origin story. The concept of house flipping. Taking calculated risks in making expenses. Communicating effectively with people involved in the business. Handling a business with mental endurance. Upsides of believing in yourself. Links: Joe's Linkedin Joe's YouTube Joe's Podcast Additional Resources: Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink The Millionaire Real Estate Agent by Gary Keller The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss Quotes: “You make six cents a can, you make a billion cans, everyone's happy. I'd rather make one can and make a billion off of it.” —Joe Rockey “Do not be afraid of expenses. Most people bottle themselves up and ruin their profitability because of fear of expenses.” —Joe Rockey “Communication. You got to be able to communicate with people effectively.” —Joe Rockey “You're going to deal with a lot of things that are going to tell you, no, I mean, there's just no way around that.” —Joe Rockey “Just believe in yourself at work … you need to have confidence and can't be foolhardy.” —Joe Rockey
Lê Thị Thu Thủy, phó chủ tịch tập đoàn Vingroup, miêu tả doanh nghiệp mình như một nhà cung ứng hàng hóa và dịch vụ “từ trong nôi ra đến ngoài mộ” cho một quốc gia đang trong cơn chuyển dịch. “Với danh tiếng của chúng tôi, bất kỳ sản phẩm nào Vingroup bán đều rất chạy”, Thủy, một cựu nhân viên ngân hàng Lehman Brothers, nói với tôi khi chúng tôi gặp mặt tại một văn phòng mới của VinFast. Lối đi vào văn phòng đó phải qua một cổng hình chữ V mang phong cách phục cổ vị lai (retro-futuristic) của nhà máy VinFast. ______________ Khám phí bí kíp "lên sàn" Thương mại Điện tử cùng cuốn sách mới nhất của Nhà Nhện tại: https://b.link/SP-YT-Ecom Ghé Nhà sách Spiderum trên SHOPEE ngay thôi các bạn ơi: https://shorten.asia/RFfT4NVT ______________ Bài viết: Vingroup và Sự Trỗi Dậy Đầy Nghi Vấn Của Một Đế Chế Kinh Tế Được viết bởi: Huskywannafly Link bài viết: https://spiderum.com/bai-dang/Vingroup-va-Su-Troi-Day-Day-Nghi-Van-Cua-Mot-De-Che-Kinh-Te-hfg ______________ Giọng đọc: Pinkdot Editor: Pinkdot --- Send in a voice message: https://anchor.fm/spiderum/message Support this podcast: https://anchor.fm/spiderum/support
A version of this essay was published by firstpost.com at https://www.firstpost.com/world/ftx-saga-and-many-implosions-in-us-especially-in-big-tech-11709111.htmlElizabeth Holmes, the formerly celebrated founder of Theranos, got hit with a jail term of 11 years, according to the Wall Street Journal. That was a startling end to what looked at one time like a huge Silicon Valley success story.But it was not the only Big Tech or big company story. The following stories also come from the WSJ:Along with these, there have been stories about massive layoffs: Meta axes 13% of its workforce, or about 11,000 people; Amazon lays off 10,000 staff, mostly those in core areas such as engineering and marketing; and Google (Alphabet) is under pressure from activist investor TCI to do much the same for cost-cutting reasons. All this may add up to a “techno-winter” (if not a general recession), one might think; surely the “crypto-winter” is already in progress. But is that really true? I believe there are three separate things going on, and it does not make sense to mingle all of them and seek solutions. The first is just plain old-fashioned grift; the second is the normal churn in business models; and the third is whether crypto makes sense.There are always major scams in the US: examples include Enron, Bernie Madoff, and the Lehman Brothers meltdown. There is the spectacle of supposedly sensible people (e.g. bankers and venture capitalists) being completely bamboozled by a smooth-talking person with a spreadsheet, with the result that lots of investor's (and taxpayers') money goes down the drain.Elizabeth Holmes seems to have hoodwinked the whos-who of not only Silicon Valley's VCs, but also name-brand politicians and captains of industry and got them on her board of directors. I mean, George Schulz and Henry Kissinger: it doesn't get any bigger than this. Exactly what did these luminaries see in the company? Some earth-shaking vision, I suppose. To be honest, I too wondered if Theranos did have a really disruptive technology that would upend the market for diagnostic blood tests. But after an expose in Bad Blood by a WSJ reporter, it was clear that the company was really a house of cards (see my column on this in Open Magazine, where I explored, among other things, Holmes' ‘reality distortion field').It is now clear that Theranos was a scam built up by Holmes and her then-boyfriend, Ramesh ‘Sunny' Balwani, a Pakistani-American entrepreneur who was much older than her, who was also president of the company. Holmes got sentenced to 11 years, Balwani got 13. Bernie Madoff, and Jeff Epstein also got long sentences. Bernie Madoff is a champion of sorts, for he ran the largest Ponzi scheme in history: $64 billion.Now Sam Bankman-Fried is giving Madoff a run for his money. His crypto exchange, FTX, valued at $32 billion just a fortnight ago, is worth virtually nothing at this time, and billions of dollars worth of customers' money has… disappeared. John Ray III, the lawyer brought in to clean up FTX during bankruptcy proceedings (ironically the same person who did the Enron clean-up), said he couldn't believe the ‘unprecedented mess' he found there. The point is that despite all the fuss about crypto-currency, it is increasingly evident that Sam Bankman-Fried ran an old-fashioned fraud: “pump and dump”. The crypto bit was merely window-dressing to give sex appeal to the whole gig. And it worked, too. Major investors like the blue-chip VC firm Sequoia Capital were so thoroughly taken in that the purported reactions of their partners is simply astonishing, if true. Here's a screenshot of an alleged Sequoia memo. There's worse: another tweet purports to show that two partners, a male and a female, reported being sexually aroused on hearing Bankman-Fried's pitch about FTX's world-beating vision to control all money (it is too embarrassing and too crude to quote):Is crypto a scam? Stephen Diehl, author of Popping the Crypto Bubble says so in this interview with the Financial Times. He calls post-2016 crypto the Grifter Era, and that's not far from the truth. It's like the carpetbaggers have arrived and set up shop. I am personally of the opinion that crypto may have some value, only that the killer apps haven't been dreamt up yet; I do believe the underlying blockchains are useful, although successful rollouts and use cases are still too few.But the point is that the FTX meltdown has relatively little to do with crypto per se. It was just a device to dress up a rather standard, old-fashioned fraud or Ponzi scheme. We have seen this sort of thing going even way back: remember the Dutch Tulip Bubble, and the South Seas Bubble. You have fast-talking hucksters hoodwinking gullible investors, who lose their shirts.It would be unfair to blame crypto for the greed and indiscipline shown by the FTX founder, or the lack of governance and regulatory control which let insiders essentially loot investor funds. For example, here's Bankman-Fried and Nishad Singh plundering away:The other angle that's remarkable is the fact that the meltdown happened just days after the US midterm elections. Coincidence? Hard to believe, because Sam Bankman-Fried had been a major donor to the Democratic party: he donated some $30 million directly to them, and then perhaps a few hundred million to the ecosystem around the Democratic party, especially the media. Said media then lionized Bankman-Fried beyond all reason, as though he were some messiah.Once again, the media, sadly, is not covering itself with glory. They didn't do any investigative journalism; and now that the skeletons are tumbling out of the closet, they should be kicking themselves for having missed out on a juicy story. But the omerta of left-leaning, ideological journalists is a wonder to behold. This is what the WaPo is worried about now? Not fraud?The ‘effective altruism' school of thought that SBF (Sam Bankman-Fried's handle) allegedly espoused is probably another scam, even though it's dressed up in fashionable ESG and DIE memes.Sam Bankman-Fried was the second-biggest donor to the Democratic party before the 2022 midterms (George Soros was the biggest). The website Gateway Pundit quoting someone else (ok, they might have a beef with Democrats anyway, so take it with a pinch of salt) paints a staggering picture of SBF's political and government connections, which is in itself highly suspicious. All this cannot be mere coincidence. Did SBF materially affect the midterm election results? I hope the Republican-controlled House of Representatives will launch an investigation. Frankly this smells like a Deep State operation. I am sure there is a Ukraine angle as well. More generally, is the US business model facing a crisis? ‘Greed is good', declared Gordon Gekko in Wall Street. Does modern corporate greed have an origin? In this interview with the Stanford Business School, David Gelles, author of The Man Who Broke Capitalism squarely blames ‘Neutron' Jack Welch of GE for what he claims is a toxic culture of profit at all cost in US corporations. That may or may not be fair to Welch, but anyway slash-and-burn, as well as short-termism and ideological metastasis seem to be the watchwords of many US CEOs these days.It would be difficult to accuse Elon Musk of seeking undue profit in his $44 billion acquisition of Twitter, which probably is worth much less than that sum just weeks after Musk took it over. But the issue there is, as is probably the case with Disney too, that there is too much ideology permeating the firm. Disney's recently fired CEO was seriously into woke causes. What Musk has done is to sweep away the wokeness in Twitter, thereby possibly allowing it to fulfill its purported role of ‘digital town square'. Under the previous dispensation, it had become basically a far-left bubble, because anybody who didn't fit into their world-view was simply deplatformed, defenestrated, silenced, censored: the very antithesis of Freedom of Speech. I published this podcast long ago about how the explicit silencing of TrueIndology was a watershed event in the suppression of online speech in India. Shadow banning, reduction of followers, and other malign acts were common against anybody that the Twitter powers-that-be didn't consider to fit their views, which in India meant anti-Hindu perspectives. Despite all the noise in the media about how Twitter has gone down the drain, it is entirely possible that Musk will not run it into the ground. Advertisers who are now staying away will most likely return. The savage layoffs don't seem to have materially affected the actual performance of Twitter on the ground, as it were: so was there a lot of waste? Wokes are known to live well off Other People's Money, as in the very case of FTX (in the Bahamas), per the WSJ.I am betting that Elon Musk will be able to return Twitter to some semblance of a business model, not run it in the ground. After all, the platform does offer value to its subscribers, even long-suffering shadow-ban victims such as me (I have often found people I've never heard of have blocked me: I am apparently on mass-blocking lists) still find it useful.It is not clear, though, if the ‘greed at all costs' attitude of US business will survive. It is clear, for instance, that they have surrendered America's industrial capacity to China in the last 30 years, all in return for short-term profits from the ‘China price'. This is suicidal in the long run, as they are beginning to now realize. There has to be some introspection.It may be too grand to claim that Western business will now go through a sea-change, a once-in-a-generation shift to something more accountable to national interests. This is especially hard when the Deep State is so ascendant, and its friends in the military-industrial-complex thrive on war in Other People's Countries.But these woes are coming at the very time that we are seeing the limits of globalization and to the excesses of Wall Street and Silicon Valley VCs. The US business community, and regulators, should consider FTX and Theranos to be canaries in the coalmine: there are useful lessons in their failures.1675 words, 22 Nov 2022. This is a public episode. 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Brian Laung Aoaeh fell in love with math in school (including studying by candle light when his family's generator turned off at night) and found his way into the world of computers after leaving his Ghanaian boarding school to study at Connecticut College.After no longer working at Lehman Brothers during the height of the Great Recession, Brian began working for a Family Office, which married his skillset in distressed ventures to helping early stage startups--often dealing with similar issues to best serve their customers.Why Interview Brian Laung Aoaeh and REFASHIOND Ventures?Brian brings two things to the diverse tech founders studio, a love of learning (now a professor at NYU) and a unique thesis that supply chain technology is an under-tapped market opportunity, globally. Listen to find out why, and let us know if you agree.As the founder and co-organizer of the Worldwide Supply Chain Federation, Brian wears multiple hats and with a joyful spirit.Considering overlooking this episode because you don't know anything about supply chain technology?Listen to Part I to the end and learn why understanding the basics of supply chain technology is the key to your being default alive.We even discuss Brian's Ghanian roots and a relentless focus on proving others wrong, to which we all can relate. What Will I Learn From This Episode?As a founder or emerging fund manager, you'll learn what it takes to launch a rolling venture capital fund to capitalize on untapped markets. Join us for a special conversation with Brian Laung Aoaeh, providing your added motivation with practical tips you can leverage to succeed in the world of early stage startups and venture capital.Follow and Review one of the Top 15% Most Shared Podcasts Globally on Spotify. Join the #11 Podcast for Startups in 2022 as voted by Feedspot.Checkout the full list here-> https://blog.feedspot.com/startup_podcasts/Join us on our journey to earn 50 ratings on iTunes and Spotify!See you inside…Questions Answered Inside:1. What does it mean to build a "moat" around your startup?2. Which startup ecosystem would you move to next other than Silicon Valley? 3. What's the most valuable thing you do for your LPs and portfolio companies?Connect with Brian Laung Aoaeh using the links below:Brian Laung AoaehLinkedIn: https://www.linkedin.com/in/supplychainoptimization/REFASHIOND VenturesWebsite: https://www.refashiond.com/
We have now experienced the biggest "Year over Year" Nationwide Real Estate Transaction/Sales decline since Lehman Brothers collapse in 2008 & the longest streak of declining home sales since 1999 (source: ZeroHedge/Bloomberg)... On this GSD Mode Podcast weekly Real Estate Tip, Joshua Smith beaks down 3 strategies/tips to continue to grow your own personal transaction count even though overall transaction count is on the decline...
On today's show, we speak to Alan Donenfeld, Founder and CEO of CityVest, an online investment platform providing access to individual investors to invest in institutional real estate private equity funds. Alan has over 40 years of experience investing in and advising on several billion dollars of real estate and business investments. Most recently Alan was the founder and General Partner of a private investment fund was the President and the founder of a SEC registered / FINRA broker-dealer. In the 1980's, he worked for Bear Stearns, Lehman Brothers in their Mergers and Acquisitions Groups. He received his MBA from Duke University and graduated from Tufts University. Alan joins us with a discussion on how to evaluate and invest in real estate private equity funds.
In der heutigen Folge „Alles auf Aktien“ sprechen die Finanzjournalisten Daniel Eckert und Holger Zschäpitz über Glöckchenläuten in Frankfurt, das drohende Ende einer Ladesäulenaktie und die Kryptobörse Coinbase, die jetzt weniger wert ist als die Spaßwährung Dogecoin. Außerdem geht es um Porsche AG, VW, Compleo Charging, Apple, Adidas, Mercado Libre, Lehman Brothers, Microsoft, Schneider Electric, Novo Nordisk, ASML, United Health, Roche, Thermo Fisher, Waste Management, Danaher, Tesla. Wir freuen uns an Feedback über firstname.lastname@example.org. Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html
Brian Laung Aoaeh fell in love with math in school (including studying by candle light when his family's generator turned off at night) and found his way into the world of computers after leaving his Ghanaian boarding school to study at Connecticut College. After no longer working at Lehman Brothers during the height of the Great Recession, Brian began working for a Family Office, which married his skillset in distressed ventures to helping early stage startups--often dealing with similar issues to best serve their customers. Why Interview Brian Laung Aoaeh and REFASHIOND Ventures?Brian brings two things to the diverse tech founders studio, a love of learning (now a professor at NYU) and a unique thesis that supply chain technology is an under-tapped market opportunity, globally. Listen to find out why, and let us know if you agree.As the founder and co-organizer of the Worldwide Supply Chain Federation, Brian wears multiple hats and with a joyful spirit.Considering overlooking this episode because you don't know anything about supply chain technology? Listen to Part I to the end and learn why understanding the basics of supply chain technology is the key to your being default alive.We even discuss Brian's Ghanian roots and a relentless focus on proving others wrong, to which we all can relate. What Will I Learn From This Episode?As a founder or emerging fund manager, you'll learn what it takes to launch a rolling venture capital fund to capitalize on untapped markets. Join us for a special conversation with Brian Laung Aoaeh, providing your added motivation with practical tips you can leverage to succeed in the world of early stage startups and venture capital.Follow and Review the #11 Podcast for Startups in 2022 as voted by Feedspot. Checkout the full list here-> https://blog.feedspot.com/startup_podcasts/Join us on our journey to earn 50 ratings on iTunes and Spotify!See you inside…Questions Answered Inside:1. What is supply chain technology?2. What is REFASHION'D Ventures?3. Should startups focus on growth or profit?Connect with Brian Laung Aoaeh using the links below:Brian Laung AoaehLinkedIn: https://www.linkedin.com/in/supplychainoptimization/REFASHIOND VenturesWebsite: https://www.refashiond.com/
I have always been intrigued with people willing to take risk with their career and in the investment world. Our guest today, Apurva Mehta checks both boxes as he along with Patrick O'Connor, started Summit Peak Investments in the summer of 2018. The firm provides capital to venture capital funds and emerging companies, focusing on several themes within the technology sector. Before forming Summit, Apurva spent 7 years as the Deputy CIO at Cook Children's Health Care System, was Director of Portfolio Management at The Julliard School, and spent his initial years at Neuberger Bergman, Lehman Brothers, and Citi Institutional Consulting. He earned a BBA in Finance at George Washington University. On this episode, we talk about Apurva's professional journey, the importance of diversification with VC, and what skills and background make the most successful VC investors. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services.
Programmamaker Carolien Borgers gaat in het kader van de nieuwe ITA-ensemblevoorstelling Lehman Trilogy in gesprek met acteur Gijs Scholten van Aschat en onderzoeksjournalist Jeroen Smit. Ze bespreken onder meer hoe de acties van de Lehman Brothers nog steeds doorsijpelen in ons dagelijks leven. En gaan ze in op hoe regisseur Guy Cassiers deze bijzondere familiegeschiedenis, aan de hand van het boek van Stefano Massini, heeft vertaald naar het theater. Lees meer over Lehman Trilogy op ITA.nl Deze podcast is opgenomen in De Amsterdamse Podcast Studio.
Learning from past mistakes is vital for any business venture or industry because it prevents the same mistakes being repeated. This topic comes to the forefront with the announcement of the controversial bankruptcy of FTX, one of the world's largest cryptocurrency companies, and the catastrophic events and revelations that followed. This week's episode of Grow Money Business discusses what's going on with FTX and why we need to study history. [04.06] FTX – A defunct company that belonged to the cryptocurrency and is currently in bankruptcy proceedings. [06.06] The bankruptcy – Grant dives into how FTX has come to bankruptcy. [12.20] The difference – Grant explains the difference between a brokerage firm and a bank. [13.22] The great depression - The worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. [13.30] Savings and loans crisis - The collapse of 1,043 out of 3,234 savings and loan associations (S&Ls) in the United States during the 1980s and 1990s is referred to as the savings and loan crisis. After the Great Depression, the S&L crisis was regarded as one of the worst failures of the banking sector in the United States. [17.00] The mortgage crisis - The US subprime mortgage crisis was a global financial crisis that erupted between 2007 and 2010 and was a factor in the global financial crisis of 2007–2008. [23.04] Mistakes of the past – Grant dives into what happens when we don't learn from the mistakes we made in the past. He further discusses the similarities between FTX's bankruptcy and Lehman Brothers' bankruptcy in 2008. [31.30] Negligence – Grant shares his idea about bringing experienced people and getting help to manage bankruptcy risk, which FTX has failed to do. [36.12] Being appreciative – Grant dives into the importance of appreciating others who came before you and studying their mistakes so you don't have to repeat them. Resources A Crisis PR Veteran on Sam Bankman-Fried's Weird Media Strategy – https://nymag.com/intelligencer/2022/12/a-crisis-pr-expert-on-sam-bankman-frieds-odd-media-strategy.html Sam Bankman-Fried, CZ Battle It Out on Twitter Over Binance's Aborted FTX Buyout – https://www.msn.com/en-us/money/companies/sam-bankman-fried-cz-battle-it-out-on-twitter-over-binances-aborted-ftx-buyout/ar-AA155PKF Crypto currency crashes recall 'wildcat' banking – https://techxplore.com/news/2022-12-crypto-currency-recall-wildcat-banking.html
Preamble rant:The recent collapse of FTX, a large crypto exchange, and its associated entities, left many of us disappointed and disgusted with flashbacks to Enron and Lehman Brothers. Nothing is new under the sun. Unfortunately, whenever humans are involved, there is a potential for bad actors to make poor choices that wreak havoc. This has proven true across industries, countries, and time. But regulation and controls can help safeguard the little guy. I expect more regulation, legislation, and guidelines in the months and years to come.Still, I worry that the wrong lessons are being learned. Some folks might see the FTX implosion as vindication that “crypto is bad”. Others might see it as the death knell for crypto and blockchain technology at large. This is a mistake. Technology is neither good nor bad. Humans use technology for good or bad. That's an important distinction. One of my takeaways is to double-down and continue uncovering ways in which crypto and blockchain technologies can solve real-world problems. Let's go!Giant maps and summer road tripsWhen I was a kid, my family would go on road trips every summer. It was a great adventure. From time to time, we would pull over to the side of the road while our parents struggled and fumbled through giant fold-out maps. This was Nigeria in the 1990s. There was no internet. The maps were sometimes outdated. As you can imagine, we got lost a couple times. One day, we narrowly escaped being detained by the military because we inadvertently were driving towards Aso Rock, which was then the presidential palace of Abacha, one of Nigeria's brutal dictators! Yikes!! Today, I can't remember the last time I opened up a giant fold-out map. Thank God for Google Maps! I now use it every day to find the optimal route for my commute. It's been a massive time-saver as I've learned to deal with the joys of New Jersey's clogged up highways. If you are like me, you might not have realized that some companies such as Uber pay Google to embed Maps in their products. Some other companies use Google Maps to optimize the distribution of their products. It's really important for these companies that Google Maps is accurate and frequently updated.As much as I love Google Maps, it's not perfect. Google Map's gapsI am going to highlight two gaps with existing mapping services: (1) Updates and (2) Ownership.1. UpdatesGoogle has done a great job mapping out the world. However, new roads and buildings are constructed every day, new businesses emerge with new signage. Logically, Google Maps prioritizes map updates for high population cities. Thus, Google updates Street View and Satellite pictures of big cities like London at least every year while smaller cities like my ancestral hometown, Ijebu-Ode, might be updated every couple of years. Is there a better solution?2. OwnershipIn 2013, Google acquired Waze for $1B. Waze was a fast-growing Google Maps competitor that utilized an army of volunteers to submit real-time traffic updates and review maps. Over 420,000 people volunteered to edit Waze's maps. Additionally, Waze had ~100 employees at the time of acquisition. But get this: the average Waze employee received $1.2M after the acquisition but the volunteers received nothing. Ouch. Is there a better solution? Introducing HivemapperHivemapper is a decentralized map built by people using dashcams. It solves both of the problems - updates and ownership - outlined above by providing crypto-incentives and technology to anyone interested in participating. Did you know that each photo in Google Maps' Street View was taken by a Google employee in a specialized car with a 3D camera? One can imagine that the cost would be astronomical. Wouldn't it be better if we could crowdsource images from drivers on their daily commute or road trips? Imagine if just 1% of all drivers did this. They would continually map every new highway off ramp, new small business, freshly created pothole, etc. But that's not all. In the future, these drivers could also collect other types of data such as air quality, weather, noise, wireless coverage, and so on. These contributors would be rewarded with HONEY, the native token of Hivemapper. The best part is that it does not require any change in behavior, contributors need only install a dashcam the size of a deck of cards. The Hivemapper Network recently launched on November 3, 2022. There are two dashcam models available priced from $549 (larger design) to $649 (smaller, more compact design shown above). If you order before January 7, 2023, you will be airdropped 500 Honey tokens. Then you will earn more tokens as you drive once the dashcam is activated.Behind HivemapperHivemapper is led by executives at the confluence of tech, logistics and crypto. The team has individuals who built and scaled global maps and geospatial products at Yahoo Maps, Scale AI, and Mapbox. They are mathematicians, physicists, computer scientists, logistic experts, artists, and designers working together to create a decentralized mapping network. Hivemapper raised over $18M in its Series A from investors including Spark Capital, Multicoin Capital, Solana Ventures, and Founder Collective. Today, the company has a number of esteemed advisers including the current or former CEOs of Solana, Helium, Masterclass, Zillow, Tinder, and the former head of Apple Maps.ConcernsWhile Hivemapper sounds interesting, it also set-off a number of alarm bells in my head. My concerns are centered around privacy, hacks and the HONEY token.A. PrivacyEvery website you visit and every click that you make on the internet is being monitored. Advertisers take that information to market new products and services to you. Now, imagine if your offline activities were being similarly tracked. Kinda scary, right? But I guess Google Maps is already tracking wherever I go.Hivemapper says it has privacy by design. The dashcams only collect the minimum required information. Furthermore, the company blurs licenses plates and people's faces in the pictures and videos captured. B. HacksEven if Hivemapper does what it says it would do to protect privacy, imagine if a bad actor hacked the dashcams and started collecting unauthorized information. It could be ugly. Hivemapper needs to have in place strong information security protocols to safeguard its contributors and collected data. C. HONEY tokenIf a contributor successfully earned 1,000 HONEY tokens while driving across the country, what can they do with it? Worst case scenario, they might sell it. But what is supporting the underlying value of HONEY? For starters, there is a cap on the total amount of HONEY. Thus, if demand increases over time, the price of the HONEY tokens should rise. I also think Hivemapper could establish partnerships with major brands then enable HONEY holders to trade them in for Uber Eats credit or airline loyalty points. Some others have raised eyebrows about HONEY's tokenomics. About 60% of the total HONEY supply has been pre-allocated to insiders with 20% going to employees, 15% to the company itself and 5% to the affiliated foundation. HONEY's initial allocation of tokens to insiders is unusually high. For context, Ethereum only had 15% allocated to insiders while newer blockchains like Avalanche and Solana had 42% and 48% respectively. But one of the golden rules of tokenomics is to avoid projects with high concentration of token ownership amongst a few owners:Early successesDespite some of these misgivings, Hivemapper has achieved some early wins. During the alpha launch, the Hivemapper Network covered 95% of all roads in Manila, the capital of the Philippines in 6 months. It mapped 110,000 miles of road. Crucially, 75% of the map of Manila was refreshed every month. This is much higher than Google Maps. Additionally, the city of Shreveport, Louisiana has also become a Hivemapper customer. The city paid $7,000 for dashcams to be put in the city's fleet of garbage trucks. Shreveport hopes the frequently updated maps will provide greater visibility into residents' challenges ex potholes etc. Ideal customerI have considered getting a Hivemapper dashcam just to test it out and engage with the network. But I don't think I drive enough to accumulate a significant amount of HONEY tokens. I think the ideal customers might be owners of large fleets of vehicles. For instance, cross-country trucking companies, school buses, taxi companies, and mail delivery services. These large fleets cover a lot of miles on an ongoing basis and could generate a lot of HONEY tokens. Nonetheless, it might still be worthwhile for a regular Joe who moonlights as an Uber driver to try it out. What do you think?I hope you have a wonderful week ahead. Stay grounded and seize the day. All the best,Afolabi This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit afolabio.substack.com
The Government is about to announce the largest shake-up in the regulation of banking and finance since Big Bang more than thirty years ago. One of Mrs Thatcher's flagship policies, Big Bang, was designed to radically change the way in which trading was done by opening financial markets for all. It heralded the arrival of electronic trading in stock and shares. Banks took full advantage of the new, liberalized markets, but their thirst for profits created several dangerous practices which led either directly or indirectly to the financial crisis which started with the collapse of Lehman Brothers in 2008 and ended in 2012. The most significant new measures that will be announced are the abandoning of the requirement for banks to keep totally separate their commercial banking business from their far riskier investment banking operations. This effectively means that rather than risking their own capital to increase profits based on investment decisions, they will be free to use their customers' funds. It is expected that there will be a limit to the percentage of their clients' funds that can be used to reduce the risk, and it is likely that the Bank of England will be given new oversight powers to regulate the markets. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
Recent weeks witnessed the complete collapse of FTX, a cryptocurrency exchange. Treasury Secretary Janet Yellen referred to FTX's downfall as a “Lehman moment” for cryptocurrency, referring to Lehman Brothers' collapse in the 2008 financial crisis. On this episode, Jeanne Hruska speaks with Professor Yesha Yadav of Vanderbilt University and Aaron Klein of the Brookings Institution to discuss this “Lehman moment,” its consequences for crypto more broadly, and whether FTX's downfall could push crypto-specific regulations across the finish line. Join the Progressive Legal Movement Today: ACSLaw.org Today's Host: Jeanne Hruska, Sr. Advisor for Communications and Strategy Guest: Yesha Yadav, Professor of Law, Vanderbilt University Law School Guest: Aaron Klein, Senior Fellow, Brookings Institution Link: "Don't Let FTX Executives Off the Hook Like Bankers in 2008," by Aaron Klein Link: "It's Time to Regulate Crypto," The Weeds Podcast Link: Transcript of Sam Bankman-Fried's Interview at the NYT DealBook Summit Visit the Podcast Website: Broken Law Podcast Email the Show: Podcast@ACSLaw.org Follow ACS on Social Media: Facebook | Instagram | Twitter | LinkedIn | YouTube ----------------- Production House: Flint Stone Media Copyright of American Constitution Society 2022.
2022 Giving Tuesday Predictions: Search Is Down, Hope Is Up Whole Whale, the publishers of this newsletter, predict a record-setting $3.2 billion will be donated for Giving Tuesday this year. The prediction is the result of an analysis based on an adjusted linear regression, trends in Google Search terms around “Giving Tuesday,” and national giving trends. This method predicts an 18% or $500 million increase over 2021's total amount raised. While this is an optimistic prediction, several negative indicators might give nonprofits more caution heading into the season of giving, including decreased Giving Tuesday search volume, narratives around inflation and economic pains, a public drained of giving after an election cycle, and a potential return to post-pandemic giving patterns. Yet, elections can lead to heightened social engagement, and online shopping trends continue to be strong despite economic worries. (2022's Black Friday set a record for online giving.) Whatever the final tally of donation revenue comes in during #GivingTuesday, remember to thank your donors! Summary Nonprofit Uses Zillow to Help Homeless | Nonprofit Technology News Charities funded by Sam Bankman-Fried may be asked to return donations: ‘I had assumed FTX to be a reputable company' | MarketWatch Pablo Eisenberg, a fierce critic of nonprofits and philanthropy, died at age 90 | NPR Rough Transcript [00:00:00] This week on the nonprofit News Feed for November 28th. This week we, uh, we have our big day, the day of the Tuesday of Giving, giving Tuesday. We're excited to talk about this and what's going on. Nick, hope you had a great Thanksgiving and enjoyed family time. I know you had a massive amount of, uh, of humans eating Turkey. [00:00:26] We had a massive amount of humans eating Turkey. Multiple turkeys I should say, but it was super fun and happy giving Tuesday. George, I sorry I didn't get you anything. Um, but what I do have for you is some predictions. Uh, we are starting out with our 2022 Giving Tuesday predictions, and we're going with the headline. [00:00:51] Search is down, hope is up. We're seeing some. Conflicting factors. So Whole Whale, which is US , we write the nonprofit newsfeed, whole letter, uh, newsletter. And we as in you predict a record setting $3.2 billion to be donated for giving Tuesday this year. And our prediction is the result of an analysis based on an adjusted linear regression. [00:01:17] But we also take a peak at things like Google Search terms around giving Tuesday and broader. Giving trends. So using this method, we have officially predicted an 18% or 500 million increase over 2020 ones total amount raised. So this is an optimistic prediction, but there are several negative indicators, uh, that could potentially, uh, be pushing down this increase in including headlines regarding, uh, inflation and economic pains. [00:01:53] We just came off an election cycle. Maybe folks are tired of giving, um, and we're potentially returning to kind of a post pandemic social engagement. That being said, we're seeing online shopping trends from Black Friday set new records. So it seems that even though we're all talking about the economy, the consumer, uh, sector, particularly on Black Friday did real well. [00:02:21] So, George, what's, what do you make of this as the, the, the predictor himself? The, the Chief Guesser and Chief Waer? Yeah. I am excited. 10 years of giving Tuesday. I mean, this is the 10 year anniversary, uh, of how it's come up and, you know, it is pretty steadily in terms of donations, uh, increased at a, at a decent clip. [00:02:45] One of the things though that I am seeing, and this is tough cause there's some lagging search data when I'm pulling it up, but right now, um, it, it is, it, it's trending behind. Um, Uh, call it 10 to 20%. It's hard to pin it down exactly year over year, but it is certainly not exceeding previous years of giving Tuesday. [00:03:09] And if you look at this trend for the past five years of, uh, giving Tuesday in search, why I care about it is that I'm hoping that it becomes a regular recognized holiday on par. The other major players, you know, Halloween of, you know, black Friday, of things that you will see in terms of increasing search. [00:03:33] And, and frankly, over the past five years, it has been, um, it's peak, it's peak in terms of search related trends and, uh, questions in the United States being asked and has decreased. And this is seemingly continued into, into this year. And. One of the things that you need to happen for a holiday is continued awareness. [00:03:58] And part of that awareness, and this is a proxy, but part of that awareness is the number of people putting in related queries to, to giving Tuesday in and around the holiday. And, you know, hopefully this isn't, uh, fatigue setting in, but we'll see it, um, we'll see the results in terms of, of dollars and maybe, uh, maybe it's just one of those. [00:04:20] That finds, uh, finds its level of awareness, but a different level of giving. So I'm, I'm still optimistic about the giving cuz as you mentioned, people are, are still spending despite threats of recession, uh, looming overhead. And hopefully that continues. And, you know, we, we've been telling people to check their, check, their real time analytics to pay attention to look. [00:04:42] I think it's an important time also, as you are looking and reviewing, like, okay, how did it go? How's our donation form? Like this is the kickoff to giving season, but also this is the last year. This is the last year that your current universal Google Analytics will work. We'll show you conversions. We'll show you where donors are going. [00:05:05] This is it. This is the last December you. With the old version of Google Analytics. So just for funsies, take a look if you haven't already at GA four, Google Analytics four. It's the upgrade that Google is forcing all clients to move onto. Mid next year, in July of 2023, take a look at what it looks like in terms of your donation tracking and flow, because that's what you're gonna have this time next year. [00:05:35] I mean, this won't be the last time I talk about it, but this is your last season, so this is a good time to be taking notes of what you, uh, what you may need to plan for next to your next season. But right now, pay attention, make sure donation forms are working and doing your best with your email messaging. [00:05:52] Get people in the door. [00:05:55] Yeah, George, those are great points. We'll wait to see the final numbers, but if you're listening to this today, make sure you check your forms and something we say at Whole Whale is always remember to thank your donors as well. Um, and if you follow the newsfeed, you can see some links to some best practices around fundraising, thanking your donors and all that good. [00:06:17] Right. I can take us into the summary now. And this is an article from Non-Profit Technology. Uh, news was reposting from, uh, KOMO News, KOMO news uh.com, which talks about. In Seattle, Washington, um, a Seattle based nonprofit called Housing Connector has part partnered with a local technology firm, Zillow, which I'm sure you've heard of, to help more than 3,700 people. [00:06:48] Homeless people move into affordable housing, and this was over the past three years and. I'm gonna guess, George, that we put this in here because we love a good public private partnership. It seems here that housing connector had a system for seamlessly connecting landlords to qualified homeless tenants eased the friction in that process. [00:07:15] Of course, with anything administrative. Um, it, it's really significantly harder for folks experiencing homelessness. And in addition, uh, with assistance from Zillow, we're able to get homeless folks into housing. Um, cuz we are experiencing a housing crisis in these United States. So this is just a real cool example of tech and public private partnerships creating real results, at least in Seattle, was. [00:07:44] This is exactly right. Their, their housing connector. They're talking about the efficiency that it gives case managers at the tip of their fingers, like the alternative here. The alternative here is that, Communities, municipalities pony up for incredibly expensive databases to manage and and maintain really cuz you need live data. [00:08:08] And the truth is, the public market has already created this. They're paying for it. Zillow's doing just fine because of their knowledge of, uh, real estate networks. And this is the a type of partnership that creates efficiencies and really, Focuses resources on affordable housing, which if you pull the thread on so many societal ills in the United States, so many of them, that thread leads right back to affordable housing in areas that have access to resources, solve that. [00:08:44] Um, and so I love seeing Zillow being a part of this and hope other. Other districts to take a look at this, uh, this housing connector versus, you know, the question of like, wait a minute, we have to build everything internally and go this, um, go this other route. So, uh, yep. I like highly and stuff like this. [00:09:05] Yeah, I absolutely agree. It's a, a cool story. We hope more of this happens. [00:09:10] The moment you've been waiting for George. Our next story is from Market Watch, and the title of this story is Charities funded by Sam Bankman, freed of the infamous FTX fame, has been asked to return donations to nonprofits that Ft X's fund had given money to. So the background on this is Fdx is a cryptocurrency exchange created. [00:09:37] Sam Bankman Freed and the whole system collapsed a couple weeks ago in. What was a liquidity crisis that essentially created a digital bank run. And it's much, much more complicated than that. But anyway, uh, this exchange collapsed, but its founder was a very public proponent of the effective altruism movement, um, potentially to. [00:10:03] Market himself and, uh, divert attention away from other potentially illegal, if not, uh, morally questionable actions. Um, but anyway, the funds that the foundation has given to nonprofits, um, there's a potential that in an effort to repay, um, folks who have debt in, in ftx, there might actually be clawbacks essentially. [00:10:29] Uh, Through the, the process nonprofits might have to give some of the funds that they got donated back to the foundation, um, which is devastating to these nonprofits. And it seems that a, a couple of people might be stepping up to kind of, you know, provide cover for these non-profits, so it doesn't happen. [00:10:50] Um, but, but Jordan, I mean, this is, this is terrible. And, uh, I have, I have more thoughts, but I wanna, I wanna get your thoughts on this. Well, this is just, you know, watching one, one shoe drop after another in terms of the, the level of fraud, which frankly is not the first time we have seen in crypto, or frankly in financial markets in general. [00:11:17] You don't need to have that long a memory to realize that yes, this was in the level of a 16 billion fraud, but there was a level of 60 plus billion by Bernie Madoff also. A very well known philanthropist and clawbacks actually happened in that case as well. Which is just an important note to, to nonprofits receiving some of these donations, which is just brutal for them. [00:11:42] You know, you're making plans, you're hiring, you're saying, Hey, finally this capital plan strategically done is gonna happen. And suddenly you're, you're now dealing with, uh, potential, you know, pullback of funds and that, you know, over a hundred nonprofits, I believe in the days of Bernie Madoff and that crash, uh, received such clawback notices. [00:12:04] And so coming back to this character, Sam Bangin Fried, uh, the damage is, is still being calculated. Um, and, and albeit less money, there was his deep, deep connection and association with the effect of altruism movement. And there is some soul searching that needs to be done. And part of that is that when people. [00:12:30] Make pledges, especially those that are in the public spotlight, that are seeking investment, that are seeking to build and effectively pay for a, a moral cause. Washing a official stamp from media and investors alike, that I am one of the good guys. I am one of the people out there making positive change. [00:12:52] You can trust me with your funds, which by the way, he was gambling. Overtly with customer funds. That's not a legend. They can see that now. Um, and this was clearly paying the price to, in the same way he, he bought a stadium rights right in Miami, the Fdx arena. He was buying the movement of effective altruism to burnish his reputation. [00:13:18] And now even beyond. You know, the, the call of effective altruism is using data and research and logic and making the best possible decision to solve the causes you care about. It's aligned with a bit of utilitarian thinking that even if I do, uh, morally corrupt jobs, questionable, and this is coming directly paraphrased from a. [00:13:44] In a paper written by one of the main philosophers behind, um, McCaskill, William McCaskill, one of his papers, talks about taking morally questionable jobs because somebody else will do it anyway, as long as you promised to make large donations in line with effective giving effective altruism. This is a very tough moral justification. [00:14:12] To play, especially when you play it at scale. And the fact that teacher pension funds were actually somehow rolled up in this as well and now are, are left empty. Um, all for the, the grand total of pledges that Sam Bankman free made. Yes, there was some money made, uh, and donated, but that money is now even being clawed back. [00:14:35] I want to say it as many times as as possible, but when you. A millionaire billionaire making a pledge. It's called pr. They're making pr. They're not making donation. They're not changing society. They're making pr, public relations. I want to look good for something I haven't done. I think everyone's red flags. [00:15:00] Red cards tie in some World Cup should be high, high. When we see pledges, they're worth the paper they're written on and maybe even less. It's frustrating. It's frustrating. Uh, net net, this is not going to end crypto philanthropy in the same way that Bernie Madoff to end family foundations and, and fiat giving. [00:15:29] Um, this is not gonna end effective altruism, though. It's gonna push for some soul searching and, um, A lot, a lot more questions about, well, how morally bankrupt can I be and still make that tithing at the end. [00:15:45] The church did this a while back. Look up the history of tithing. It's quite interesting. It doesn't go well. Alrighty. [00:15:55] I mean, more ran ranum, but uh, you know, it's. It's good to, to turn around and look at the power of, you know, billionaires in philanthropy, um, and the detriment, um, that can, uh, can be cost. Yeah. George, I, I really appreciated that. For our listeners, maybe they're just this year they've started experimenting with crypto donations. [00:16:21] Maybe they have a way to donate, uh, cryptocurrency to your organization. I think this situation has led to a crisis of trust coming from a lot of different directions. If you are a small made or large size nonprofit, how do you instill trust for people who follow this and maybe a little jaded by the whole thing? [00:16:49] How do you as a nonprofit communicate trust? [00:16:52] So you're saying for like, if you're accepting crypto philanthropy, crypto donations through your site, there may be questions of how, you know, like this is all a fraud, right? This is the, the top line banners one. You know, remember that roughly 40% of millennials actually have and own cryptocurrency. , um, and are able to, to sort of use it and, and I would say some of those parallels to, just because Enron existed doesn't mean that the entire equity market was a sham, that you shouldn't accept stock donations. [00:17:27] The truth is when you accept crypto, uh, it is, if you're used at least the giving block, full disclosure, whole. Um, manage that manages with them as a client. They're a client of ours. Uh, but once that donation is made, it is immediately liquidated. So I don't care if you are getting some sort of animal coin or a Bitcoin or Ethereum, whatever it may be, once it hits that donation form, it is processed into fiat Hold onto your dollars type of things. [00:17:58] One of the questions, however, is, as with any other donation, is that if it was I begotten and it is of high, It there could be suspect to clawbacks if there are legal proceedings. So maybe that is actually one, maybe large takeaway that when you receive a large donation, um, don't, aren't counting those chickens, um, just yet and making sure that that is money you can hold onto. [00:18:23] But, uh, I would say keep going and it is, um, it is a minor setback and if you really parse into it, you're like, oh, I. Crypto was all on the blockchain and it was all transparent. How, how could this level of fraud be is, is because this was a classic Ponzi scheme of centralized control over these assets. [00:18:46] There are abilities on the blockchain to have your own wallet the same way that you have a wallet in your pocket with $20 in it, and you're like, as long as I hold this, as soon as you hand that over. To a Lehman Brothers and they start leveraging the heck out of it. And you're like, I know I can get my $20 whenever I want. [00:19:06] That's where the centralized trust comes in. And this particular company was based in The Bahamas with no regulation, oversight, financial responsibility, board members, or, um, frankly, asset back checks involved at all. And so when that happens, that's, you know, that's just human. Error that is, uh, human fallibility. [00:19:29] It's hard to say, like, alright, you don't give that diri to anybody asking, but I I'm hoping that this isn't a knee jerk reaction of like, oh, we gotta pull our crypto off because it is all a scam. It's like, it is not, scams get perpetrated on top of it as, as they do with every other financial market. And this will set probably, uh, the crypto space back. [00:19:51] Um, they're saying, you know, a year or so, um, as there's ripple on effects. But, um, the underlying my confidence in underlying technology, uh, remains and people are still building on it. George, I think that's a great synthesis of all the different kind of threads that nonprofits should be considering, and I'm sure we'll talk more about this in the next couple weeks, months. [00:20:13] Um, as we do follow the crypto philanthropy space, I should say, we've got a, a webinar coming up with care two, um, I don't know when you're listening to this, but on. I should know it off the top of my head. December. I'm gonna say first December 1st. So check out, uh, that webinar. It's uh, hopewell.com. Um, you can find it on our webinars section there. [00:20:36] That is an awesome reminder. You get to listen to us live, not me. Um, but you , you. I don't wanna do that. You do that. . Well, George speaking. Uh, wealthy philanthropists. Um, we wanted to highlight, uh, someone who is skeptical of them. Uh, our next article, um, comes from npr and the title is Pablo Eisenberg, A Fierce Critic of Nonprofits and Philanthropy. [00:21:11] Critical out of fierce love, I guess you can say. Um, has died at age 90. Um, so Eisenberg, who was someone I didn't know until I read this article. Um, Is a professor, nonprofit leader, a social justice advocate, just really, really cares about, um, issues of equity and justice, and apparently was somewhat famous for kind of sticking it to the stayed old, outdated. [00:21:43] Um, however he perceived it kind of traditional philanthropy space. Um, it says here, chastising prosperous donors for giving disproportionately to Ivy League schools, rich hospitals, and well endowed museums all while getting tax breaks. Um, so it seems like kind of a, I don't know, sticking out for the, the little guy in the, the philanthropy space, but seems like a titan nonetheless, within the, the philanthropy. [00:22:10] Yeah, I mean, I put this in here also, uh, because I think you know this as an outspoken critic. Um, you know, often said of mega billionaires out there, um, that pledged, there's that word pledged, red card pledged to donate the majority of their wealth. Uh, were not spirit desire. He, uh, he criticized them for not giving away more of their fortune immediately. [00:22:35] If you have it, give it away. Do the work, do the work now, and gets even more frustrated watching these towering offices be, be built, um, around giving away this money as opposed to doing the work. Uh, so I do, here's what I would say. I, I do believe when you're giving away that level of wealth, you must probably be very careful, um, about giving it away in ruinous ways. [00:23:00] Um, I, I like the sentiment in there. [00:23:02] I like it too. I think this guy deserves a movie. . I'd watch that movie. I don't know how many other people full would, it was a little niche, but I'd watch that movie. Uh, maybe Netflix. Netflix is at a documentary budget for that, for sure. All right. How about feel Good story? George, what have we got? This one comes from Ktv Q. [00:23:24] Dot com and it is about an organization called Adult and Teen Challenge, which is a faith-based recovery program for men and women that suffer from addiction. And they are selling live Christmas trees to raise money for program costs, to help teens and other young adults experiencing addiction and needing recovery. [00:23:46] And we do like a good seasonal article, and I don't know what says. Seasonal fundraising, um, like a Christmas tree sale, nothing. Not to like here. Yeah, it's, it's great. And I also love these earned, uh, earned models, um, that usually can be program related, but certainly around the season when people are buying you, if you have the ability to, to match a program to something that can be purchased is a way for you to generate some earned revenue, which can be put to good causes. [00:24:20] It's great. All right. Got a, got a question for you. Oh boy. Yep. What should an unwell non-profit Twitter campaign do? An unwell non-profit. Just not, well, not feeling great, not feeling great Twitter campaign. Oh man. What did they do Nick? They should, uh, get treatment. Oh my. Oh, oh my. Look, they've made it to the end of this podcast. [00:24:48] They deserve that. All right, have a good one. Happy given Tuesday. Happy Giving Tuesday.
In the fourth installment of The Scoop's continued coverage of FTX's demise, host Frank Chaparro examines the legal underpinnings of FTX's bankruptcy and restructuring process with Dan Besikof, a partner at the law firm Loeb & Loeb, and Mark Shapiro, Chair of the Financial Restructuring Group and a partner at the law firm of Shearman & Sterling. In 2008, Shapiro served as the Head of Restructuring for Lehman Brothers, where he guided the sale of the firm's U.S. assets in chapter 11. According to Besikof, FTX's fiduciary will likely attempt to bring money back into the estate through lawsuits: “One of the things that they're going to look at is where did money go out where value didn't come back, and to the extent money went out and value didn't come back, that's a natural target for a fraudulent conveyance lawsuit or a fraudulent transfer lawsuit.” FTX has notified a federal judge it wants BitGo to custody its $740 million worth of digital assets. While the exact situation of FTX's finances is still uncertain, Shapiro says the sheer amount of money lost by FTX users is likely to prompt regulators to take a more proactive approach going forward: “Now that it's become so public and so much money has been lost, I think the paternalistic side of the government is going to take over and try to do something about protecting investors.” Episode 118 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, Dan Besikof, a Partner at Loeb & Loeb, and Mark Shapiro, a Partner at Shearman & Sterling. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to email@example.com. This episode is brought to you by our sponsors Tron, Ledn About Tron Founded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com. About Ledn Ledn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io
Tom welcomes back Michael Gayed, Portfolio Manager at Toroso Asset Management. Michael is the author and publisher of the Lead-Lag Report. Michael discusses how insane this year has been and how this is the only year in history where treasuries have lost more money than stocks. The only period it can be compared with is 1931. We're in very abnormal territory. People can get overly comfortable if something isn't happening immediately. We saw that with FTX and Lehman Brothers collapses. The beauty of FinTwit is the ability to see the short-term perspective of investors. Michael says, "When investment becomes religion, it's time to lose faith." This is what happens in markets people get overly confident in markets, and we're seeing margin calls in crypto. Usually, margin calls aren't limited to just one asset class. He explains the terms risk on and risk off. For the bulk of this year, Toroso's signals have been risk-off and defensive. The melt-up scenario is still very much in play, but we're in a recession. Melt ups are basically just FOMO which eventually fizzle out. A split government isn't a bad thing for markets and the economy. The best thing is to lower fiscal spending to reduce inflationary pressures long term. In many ways, the Fed may be trying to counter seasonality. The strength in the dollar is usually tied to a good treasury market, but this year is the exception. The persistence of the dollar has been relentless until recently. The bear market will continue to take some time to play out. We're setting records for the rate of change in many areas. All the statistics are showing that something is not normal. All investors can do is hope that it ends, and Michael is seeing some reason for optimism. Gold needs the dollar to underperform, and the market needs to believe that a bear market will persist. The link between miners and gold price is not that correlated. Miners are dependent on additional factors like energy and input costs to consider. At some point, we end up in a similar debt to GDP situation with that of Japan. Who knows where we will be in another ten years. Time Stamp References:0:00 - Introduction0:35 - Sanity Check3:26 - Contagion & Risk8:54 - Melt Up Thesis16:22 - Fed & China18:48 - OPEC & SPR21:53 - Commodities & Lumber23:50 - Dollar Strength26:25 - Foreign Dollar Demand29:39 - Gold & The Dollar32:17 - Gold Miners33:29 - Layoffs & Retail36:44 - Pivot & Future Inflation38:49 - Brazil40:45 - Wrap Up Talking Points From This Week's Episode Why this year is highly abnormal in U.S. history.Risk on and off metrics and why he is positioned defensively.Why a split government is good for the economy and inflation expectations.The outlook for gold and correlations with miners. Guest Links:Website: https://www.leadlagreport.com/Website: http://torosoinv.com/Twitter: https://twitter.com/leadlagreportYouTube: https://www.youtube.com/theleadlagreport Michael A. Gayed, CFA, is Portfolio Manager at Toroso Asset Management, an award-winning author and publisher of The Lead-Lag Report. Michael is a well-respected results-oriented Investment Manager, showcasing 15 years of successfully executing initiatives that result in significant revenue growth. In addition, he is known for identifying and implementing various investment strategies to capture market anomalies while maintaining a business mindset beyond portfolio management. Michael offers a proven track record of evaluating business/investment opportunities, quickly understanding market dynamics and relationships. He is also an out-of-the-box thinker committed to strengthening organizations' financial performance through dedicated hard work and a passion for investing. He is a graduate of (Cum Laude) NYU Stern School of Business with a Double Major in Finance & Management and holds a Bachelor of Science in Finance & Management. In addition, he is a Chartered Financial Analyst from the CFA Institute.
Looking for key insights into being a woman in a leadership role? In this Live Greatly Podcast episode Kristel Bauer sat down with the co-founders of the handbag brand, Dagne Dover. Jessy Dover, Melissa Mash & Deepa Gandhi share key insights to build resilience, set boundaries, boost communication and support your well-being at work and in life. Tune in now! You can use the code GREATLY20 for 20% off full price styles at Dagne Dover for first time customers throught the end of 2022! Key Takeaways from This Episode: Why Jessy, Melissa and Deepa started Dagne Dover & how they all met (the backstory) How they have overcome obstacles along the way Tips for navigating the world of being a female founder An important question to ask yourself to keep perspective as a founder How they created the company culture they always wanted coming up in their careers and why it's so important Resilience building tips Ways to boost confidence How they navigate the pressures of their career with personal life and relationships Key insights to create healthy boundaries between work and the rest of life TIps for how employees can set healthy boundaries and boost communication How they navigate stress What makes their brand unique A big thank you to Dagne Dover for sending Kristel 3 complimentary bags! About Dagne Dover: Dagne Dover creates problem-solving bags for humans getting the most out of life. Bags that keep up, stay organized, and look good doing it. Founded by three women with very different backgrounds but a similar drive and passion, Dagne Dover embodies simplicity, functionality, and good design. Goodbye chaos, #hellodagne. About Deepa Gandhi: Deepa Gandhi is co-founder and COO of bag brand Dagne Dover in addition to being an angel investor and advisor to other high-growth businesses. Deepa oversees all strategic planning, growth, operations, supply chain and finance for Dagne Dover. Deepa began her career on the trading floor of Lehman Brothers but quickly shifted her career path to the retail industry when she worked at Club Monaco driving double digit growth for the women's business on their merchandising and planning team. Her analytical rigor combined with her passion for building great brands has made her a key contributor in driving Dagne Dover's exponential growth since the company's inception in 2013. She graduated from Johns Hopkins University where she studied International Studies and Entrepreneurship and Management, and she received her MBA from The Wharton School of Business. She is also a 2015 Forbes 30 under 30 and member of Women in America. About Jessy Dover: Jessy Dover is Co-Founder and Chief Creative Officer of Dagne Dover – the brand that designs bags for badass humans. At the helm of everything creative, Jessy leads the brand's product design and creative marketing teams. With an adventurous, fun-loving spirit and based on her mantra, “good design is everything”, Jessy has helped Dagne Dover evolve from a small unknown brand to a household name in under 10 years. Today, she continues to raise the bar through innovation, challenging the brand to re-define the future of retail by creating fashion-forward products with optimal functionality that cater to ever-changing lifestyles. About Melissa Mash: Melissa Mash is CEO and cofounder of Dagne Dover, overseeing business development and retail partnerships for the brand. A graduate of NYU and The Wharton School of Business, Melissa was previously at Coach, where she led the turn-around of Coach's first European location. During that time, she saw an immense opportunity for a high-quality brand with a unique design, at a compelling price point. That brand became Dagne Dover. While she has always been passionate about products that help people feel more confident, Melissa now also focuses on how Dagne Dover can be an example of positive company leadership, company culture and evolved workplace policies for future generations. Website: https://www.dagnedover.com/ Instagram: @dagnedover Facebook: https://www.facebook.com/DagneDover/ LinkedIn: https://www.linkedin.com/in/melissashinmash/ https://www.linkedin.com/in/jessydover/ https://www.linkedin.com/in/deepagandhi/ About the Host of the Live Greatly podcast, Kristel Bauer: Kristel, the Founder of Live Greatly, is on a mission to help people thrive personally and professionally while promoting vibrant company cultures. Kristel is a corporate wellness expert, Integrative Medicine Fellow, Top Keynote Speaker, TEDx speaker & contributing writer for Entrepreneur. Kristel brings her expertise & extensive experience in Corporate Wellness, Emotional Intelligence, Leadership, Mindset, Resilience, Self-Care, and Stress Management to in-person and virtual events as Professional Keynote Speaker. If you are looking for a female motivational speaker to inspire and empower your audience to reclaim their well-being, inner motivation and happiness, Kristel's message will leave a lasting impression. Kristel would be happy to discuss partnering with you to make your next event one to remember! Speaking Topics can be tailored to fit the needs of your group. To Book Kristel as a speaker for your next event, click here. Website: www.livegreatly.co Follow Kristel Bauer on: Instagram: @livegreatly_co LinkedIn: Kristel Bauer Twitter: @livegreatly_co Facebook: @livegreatly.co Youtube: Live Greatly, Kristel Bauer To Watch Kristel Bauer's TEDx talk of Redefining Work/Life Balance in a COVID-19 World click here. Disclaimer: The contents of this podcast are intended for informational and educational purposes only. Always seek the guidance of your physician for any recommendations specific to you or for any questions regarding your specific health, your sleep patterns changes to diet and exercise, or any medical conditions. Always consult your physician before starting any supplements or new lifestyle programs. All information, views and statements shared on the Live Greatly podcast are purely the opinions of the authors, and are not medical advice or treatment recommendations. They have not been evaluated by the food and drug administration. Opinions of guests are their own and Kristel Bauer & this podcast does not endorse or accept responsibility for statements made by guests. Neither Kristel Bauer nor this podcast takes responsibility for possible health consequences of a person or persons following the information in this educational content. Always consult your physician for recommendations specific to you.
Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: The relative silence on FTX/SBF is likely the result of sound legal advice, published by Tyler Whitmer on November 21, 2022 on The Effective Altruism Forum. The purpose of this post is to explain why I think we should expect to hear very little, if anything, about the FTX/SBF fiasco from any EA public figures or institutions, and why I wouldn't read anything into that other than that folks are receiving good legal advice and appropriately following it. A little about me and why I'm writing this A little background on me, as this is my first real post here (gulp!) after lurking on and off for a long time. I recently resigned from the partnership of a big international law firm based in the US so I could take some time off. During my 16ish-year career as a big firm lawyer, my practice often focused on plaintiff-side restructuring-related litigation, including cases stemming from some of the biggest financial blow-ups in US history. Early in my career, I worked on litigation about deceptive lending practices at Enron. I then spent the better part of a decade working on litigation against the big money center banks by creditors of Lehman Brothers. I was also involved in litigation against the banks by the Federal Housing Finance Agency, after it took over Fannie Mae and Freddie Mac. I've been what I'll call EA-adjacent for a long time, but I've recently gotten more involved. For the past few months during my time off, I've been meeting as many lawyers and other mid-career folks in the EA community as I can (hi to those I've met!), and I've pitched in on a few projects led by others. I was informed on November 2 that I would receive funding for my own project from the FTX Future Fund. I obviously don't expect to see that funding now. I'm upset and sad about that. I'm really excited about the project, and while I can do some of it by donating my time to it, some of it really does require a bit of funding that I'm not sure I can get now. That sucks, and I'm still working out how I feel about it. Obligatory “this is not legal advice” throat clearing I'm not acting as anyone's lawyer here, and I don't want to (at least right now with respect to these issues). Nothing in this post is legal advice. This is just my two cents, off the top of my head, based entirely on my experience and no research at all. Why it's best for folks not to comment on the FTX/SFB situation, and not just for their own sake I don't know anything about the FTX/SBF situation other than what's in the public record, which I've been following closely as it develops. My thoughts here are inspired a bit by this post by Shakeel Hashim and this one by Holden Karnofsky, and the comments to each, but it's also a response more generally to frustration I've seen here and on Twitter about the fact that many public figure EAs and senior folks at EA institutions are not directly addressing the FTX/SBF situation as much as some would like. Lawyers almost always advise both individual clients and folks representing client entities not to speak to anyone, including friends and family, about ongoing litigation or any facts and circumstances likely to lead to litigation, including bankruptcy proceedings. People often feel frustrated by being “muzzled” in this way—especially where a narrative is establishing itself publicly that they see as casting them in a negative light. I suspect many are feeling that way right now about FTX/SBF and how the press is reporting on it. But smart people will continue to follow their lawyers' advice. There are good reasons for this, including many that go beyond self-interest. I've seen most of the self-interest angles addressed elsewhere, but I'll say a bit about it just to drive the point home. Being involved in litigation, even as a totally blameless witness—or even a perceived witness who...
From successful law partner to presiding judge in the famed Lehman Brothers bankruptcy case, retired Judge Shelley C. Chapman has not only witnessed her industry's evolution from her perch at the U.S. Bankruptcy Court, Southern District of New York, she's helped shape it. In this episode, Judge Chapman and Heidi Sorvino, managing partner for the New York office at White and Williams LLP, look back on Chapman's biggest cases, consider the current era of bankruptcy practice, and offer advice to today's newest professionals. To learn more about turnaround management, news, and experts, visit turnaround.org. Episode Links Our episode is sponsored by White and Williams. Learn more about Judge Shelley C. Chapman at Willkie Farr & Gallagher LLP. Learn more about Heidi Sorvino at White and Williams LLP. Learn more about Turnaround Time here. Our music is by Kit and the Calltones.
Il «buco» potrebbe ammontare a 10 miliardi di dollari, sottratti a circa un milione di persone. È l'ultimo scandalo finanziario degli Stati Uniti, che ricorda Lehman Brothers o il caso Madoff. Con una differenza: che stavolta tutto ruota intorno ai bitcoin, la moneta digitale di cui il giovane Sam Bankman-Fried sembrava essere il nuovo genio, come racconta Federico Fubini. Mentre Gabriele Petrucciani analizza il 2022 (negativo) di questo mercato parallelo.Per altri approfondimenti:- Crollo di Ftx, è la fine delle criptovalute? http://bit.ly/3EMpkUI- Ftx sarà la Lehman Brothers della criptofinanza? Cosa c'è dietro il crollo http://bit.ly/3TLAu0où- Ftx in bancarotta, chi è Sam Bankman-Fried che invitava Clinton e Blair alle Bahamas http://bit.ly/3goMK9y
Ostatnie dni, to największy kryzys w krótkiej historii kryptowalut, nazywany wręcz "efektem Lehman Brothers". Przypomijmy: to był amerykański bank inwestycyjny, którego plajta zapoczątkowała w 2008 roku globalny kryzys finansowy. Upadek w ostatnich dniach trzeciej największej giełdzie kryptowalut, to był wstrząs. Właściciel FTX najpierw w niejasnych okolicznościach pieniądze klientów przeniósł do swojej prywatnej firmy, później złożył wniosek o upadłość giełdy. Pieniądze wyparowały, a rykoszetem oberwało się całemu rynkowi kryptowalut. Do tego stopnia, że bitcoin, a więc najbardziej znany elektroniczny pieniądz świata jest już cieniem swojej potęgi: w ostatnich dniach stracił jedną czwartą wartości, a w porównaniu z sytuacją sprzed roku stracił 70 procent! Partnerem odcinka jest OANDA TMS Brokers
The sudden collapse of crypto exchange FTX last week was shocking. It's arguably on par with Enron or Lehman Brothers in terms of the people it hurt, its cascading impact on the industry and the regulatory changes it could spur. To help draw timely lessons, Jeremy Allaire sat down with Angie Lau, a veteran journalist who is Editor-in-Chief, CEO, and Founder of Forkast.News, a media outlet that covers emerging technology at the intersection of business, economy, and politics. While there's much we're still learning about FTX, Angie and Jeremy identified several insights: Great companies are built on more than talent and technology. They must have rigorous financial, security, operational, and compliance controls to mitigate risks. This is best understood as a crisis of confidence, not a crisis of technology. Lack of regulatory standards has aided the rise of unregulated, and often off-shore, centralized financial institutions built on excess. We need to flush this out. Many crypto firms have forgotten what it is they're trying to do. We must move away from the speculative value phase to the utility value phase. Boring is the new sexy. *Circle has invested in the media company Angie Lau founded, Forkast.News. Circle also paid a fee for Angie to speak at its inaugural ecosystem summit, Converge22. Angie and Jeremy cover:
How far will the FTX crypto contagion spread? "The bitcoin price is beginnings its final move to the downside. I have been comparing FTX to Lehman Brothers as there are similarities. The bitcoin bottom should be around the 9K to 10K price level. This will be a long-term bottom that will coordinate with inflation as stocks will be fighting a recession. Regulation in the crypto markets will cause the bitcoin price to move up," says Gareth Soloway.
FTX, l'une des plus grosses plateformes d'échanges de cryptomonnaies, a fait faillite. Plusieurs centaines d'entreprises pourraient être entrainées dans sa chute ainsi que les avoirs de centaines de milliers d'investisseurs. Nicolas Bouzou fait le point sur une question d'actualité économique.
With the collapse of one of its largest exchanges, crypto's having its very own Lehman Brothers moment. Semafor's Liz Hoffman explains the repercussions for the real world. This episode was produced by Miles Bryan and Amanda Lewellyn, edited and fact-checked by Matt Collette, engineered by Paul Robert Mounsey, and hosted by Sean Rameswaram. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices
With the collapse of one of its largest exchanges, crypto's having its very own Lehman Brothers moment. Semafor's Liz Hoffman explains the repercussions for the real world. This episode was produced by Miles Bryan and Amanda Lewellyn, edited and fact-checked by Matt Collette, engineered by Paul Robert Mounsey, and hosted by Sean Rameswaram. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices
Ftx, piattaforma per il trading di criptovalute, ha dichiarato il fallimento l'11 novembre e ha fatto ricorso negli Stati Uniti al Chapter 11, ovvero la procedura fallimentare che consente alla società di continuare ad operare mentre negozia con i creditori. Contestualmente, si è dimette il suo amministratore delegato, Sam Bankman-Fried. Ne parliamo con Alessandro Plateroti , direttore di Notizie.it e Gian Luca Comandini, divulgatore tecnologico. Tlc. In Italia la frenata dei ricavi: -33% negli ultimi 10 anni. Si è tenuto il Forum annuale delle Telecomunicazioni2022, organizzato da Assotelecomunicazioni-Asstel, presso la Luiss Guido Carli di Roma.E' stato presentato il Rapporto annuale sulla Filiera Tlc predisposto dal Politecnico di Milano, che fotografa la dinamica del mercato delle Telecomunicazioni, l'andamento della Filiera e le sue sfide per il futuro. Un dato che spicca è negli ultimi dieci anni è che in Italia in 11 anni ha perso un terzo del suo valore iniziale sul totale del mercato delle Telecomunicazioni pari a oltre 14 miliardi. Ne parliamo conMassimo Sarmi presidente di Asstel.
จากจุดเริ่มต้นของวิกฤตการเงิน ‘ซับไพรม์' ในอีพีที่แล้ว Wealth History EP.12 นี้มาคุยกันต่อว่าจุดพีคและจุดจบของวิกฤตคือจุดไหน สร้างผลกระทบในวงกว้างทั้งเศรษฐกิจ การเงิน การธนาคารครั้งใหญ่อย่างไร ไทยรอดพ้นจากวิกฤตการเงินได้เพราะอะไร หาคำตอบได้กับโฮสต์ประจำรายการ วิทย์ สิทธิเวคิน
This week, we go inside Elon Musk's “dire” warnings, FTX's spectacular collapse and Meta's big layoffs. Has the tech industry lost its mind?“Hard Fork” listeners: We want to hear your questions about the tech industry. Send them to firstname.lastname@example.org. Also, check us out on TikTok: @hardforkpodAdditional Resources:Elon Musk told Twitter employees the company faced a bleak financial picture in a meeting with staff on Thursday and in his first companywide emails.The world's largest crypto exchange, Binance, said it had reached a deal to buy its competitor FTX, which was on the verge of collapse. The news about FTX had left crypto investors scrambling.Is the collapse of FTX crypto's Lehman Brothers moment?Meta announced layoffs of 11,000 employees, accounting for about 13 percent of its work force.
Goldman Sachs recently predicted the Fed is expected to raise interest rates to 4.75% and 5% by March 2023. What's going to happen to commercial property over the next 6 months to a year? But here's a more important question: what's the main thing you should stop doing? In today's episode, you'll discover the exact mindset millionaires — and even billionaires — adopt when it comes to real estate investing (even if the economy goes down the toilet.) Listen now! Show Highlights Include: Why using “HM Loans” permits the lender to legally steal your investment property (and forces you to seek credit from dodgy pawnshops and violent loan sharks) (0:54) How you could own a $200,000 property — and never work a day in your life again — by being $30,000 in credit card debt for 5 years (4:35) The insidious way CNN abuses the potential recession to pump you full of fear (and destroy any chance of building your multi-family property empire) (6:21) Scared of a Lehman Brothers style crash? Here's why the property market won't crumble like it did in the Global Financial Crisis (even as the media and politicians attempt to fuel you with “fear-porn”) (7:03) Why “liar loans” were the real reason why the market crashed in 2008/09 (and why 2023 could be the ticket to your freedom from a 9-5) (8:52) How you could miss out on the greatest real estate opportunity of your lifetime by being a yellow-bellied coward (12:05) The “assumption loan” secret to maximize your ROI (and achieve a 75% leverage on all your investment properties… so you could invest in more properties with less physical cash) (15:02) How to find the highest ROI multi-family deals (and avoid the feeding frenzy when interest rates cool down) (17:31) If you liked the episode, leave me a review on whichever app you listen to podcasts on. If you want to connect with me, follow me on Facebook here https://www.facebook.com/jennings.smith.50 or Instagram here: https://www.instagram.com/jenningsfostersmithjr/.
Tom welcomes back Larry McDonald to the show. Larry is a New York Times bestselling author, CNBC contributor, and Political Risk Expert. Larry discusses the reach of his recent book, "A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers." Larry is concerned about the impacts of rate hikes in Japan and around the world. Central banks are very nervous because they can't assess the damage inflicted by their policies for many months. The Fed doesn't want to admit that financial conditions can overpower them. We're going to see a 500 billion dollar swing in debt servicing. They are trying to scare investors with rhetoric, but the math is stacked against the Fed. The yield curve is showing that a recession is certain. They are trying to regulate the energy markets by drawing from the strategic reserves. However, prices are still continuing to rise. Japan is entering a doom loop between yield differentials and the value of the Yen. This could be a very dangerous scenario, and the only way out is to get help from the Fed. There are of globally players very concerned about the speed of Yen weakening. When markets see the end of a rate hike cycle, we see gold buyers do very well. Gold suffers at the beginning of these cycles. There is a crisis in metals, and we're going to be needing a lot more of them to roll out green energy. Silver is starting to now outperform gold, which likely means speculative money will come into the space. Time Stamp References:0:00 - Introduction2:02 - Japan & Rate Effects6:10 - Lagging Impacts9:12 - Commercial Banks11:20 - Yield Curves12:33 - Midterms & Pivots16:45 - Bank Of Japan & Risk19:05 - Treasury Risks & Gold25:57 - Fed & Miners27:16 - Labor & Inflation29:42 - Refilling the SPR?32:40 - Resource Opportunity33:56 - Rhetoric Reversal?37:57 - Prospects For Silver41:46 - Wrap Up Talking Points From This Episode Serious concerns with Japan's financial system.Energy and how will the strategic petroleum reserves be replenished.The outlook for gold and silver when the Fed finally pivots. Guest Links:Website: http://thebeartrapsreport.comTwitter: https://twitter.com/convertbondAmazon Book: https://tinyurl.com/2p93wy9x Larry McDonald is a New York Times bestselling author, CNBC contributor, and Political Risk Expert. He is also the creator of The Bear Traps Report, a weekly independent Macro Research Platform focusing on global political and systemic risk with actionable trade ideas. Thought-provoking Larry McDonald presents his captivating views on the Trump Administration, U.S. Financial Crisis, European Sovereign Debt, and China's Economic Meltdown - spiced with actionable risk indicators, risk management lessons, and sprinkled with humor. In 2016, Larry McDonald joined ACG Analytics in Washington, D.C., as a partner with a unique skill set, as one of today's leading political policy risk consultants and strategists. From 2011 to 2016, he was Managing Director and Head of U.S. Macro Strategy at Société Générale. In 2010, he founded an investment research firm which publishes the Bear Traps Report, focused on Political and Systemic Risk with actionable trade ideas. Larry makes weekly appearances on CNBC as a contributor focused on political and economic risk and opportunities. In late 2006, as Vice President at Lehman Brothers, he led his team into betting against the subprime mortgage market, profiting the firm over $2 billion before its demise. In 2009, he wrote the international bestseller A Colossal Failure of Common Sense, The Inside Story of The Collapse of Lehman Brothers - translated into 12 languages, selling over 400,000 copies. Before working at Lehman, he was the co-founder of Convertbond.com, a website that provided convertible securities information with news, valuation, terms and analysis tools for convertible bonds, convertible preferred stocks, and other convertible securities.
Chris Perkins has A LOT to share. He was an artillery officer in the Marines who left the Corps and wanted to get into finance. After convincing someone at Lehman Brothers that conducting artillery missions made him a good fit for stock trading, he got started int he world of finance. His career was moving along the normal path of Wall Street until he started learning about this "internet money" and blockchain technology. He now invests in crypto projects with CoinFund and helped to start Veterans in Digital Assets to build access into the crypto world for the veteran community. Veterans in Digital Assets (VIDA) | a podcast by Veterans in Digital Assets (VIDA) (podbean.com)Veterans in Digital Assets DiscordVeterans in Digital Assets (@VIDABWF) / TwitterChristopher Perkins | LinkedInHome - Bunker Labs
Jim talks with Nate Hagens about his new book co-authored with DJ White, Reality Blind: Integrating the Systems Science Underpinning Our Collective Futures, volume 1. They discuss Nate's Reality 101 course, the core fundamental drivers of our current situation, writing "through an alien lens," steering away from optimism and pessimism, the tradeoff between accuracy and helpfulness, telling the truth & letting the chips fall, the buildup of underground carbon, the carbon pulse, a bank account of ancient sunlight, invention of the Newcomen atmospheric engine, the Jevons paradox, exponential growth in a finite world, disliking the word "degrowth," how humanity became a heat engine, gene agendas, advertising as the most deleterious invention, fast fashion, hypernovelty, trophic pyramids, the sixth great extinction, building a post-carbon life, energy as the currency of life, energy return on investment, why we don't want free energy, thinking about the future probabilistically, predicting a drop in the resource economy, hitting the reset button on finance, consumer abundance as a peacock's tail, and much more. Episode Transcript Propaganda, by Edward L. Bernays The Century of the Self (documentary by Adam Curtis) Dr. Nate Hagens is the Executive Director of The Institute for the Study of Energy & Our Future (ISEOF) an organization focused on educating and preparing society for the coming cultural transition. Formerly in the finance industry at Lehman Brothers and Salomon Brothers, since 2003 Nate has shifted his focus to understanding the interrelationships between energy, environment, and finance and the implication this synthesis has for human futures. Nate hosts the podcast The Great Simplification with Nate Hagens, in which he has conversations with experts in energy, ecology, government, technology, and the economy to provide a systemic view of the world around us.
In this episode of My Life in Four Trades, Jeff Dorman, a co-founder and the chief investment officer of Arca, gets personal with Maggie Lake. Jeff explains why he quit traditional finance, shares the lessons he had to learn and unlearn after years of working on Wall Street, and talks about how he's become a calculated risk-taker. After trading at leading TradFi firms such as Lehman Brothers, Merrill Lynch, and Citadel, Jeff moved to Los Angeles for a new blockchain-powered career and to find a work-life balance. Learn more about your ad choices. Visit megaphone.fm/adchoices
“The Rachel Maddow Show” debuted in the interregnum between political eras. Before it lay the 9/11 era and the George W. Bush presidency. Days after the show launched in 2008, Lehman Brothers collapsed, and a few weeks later Barack Obama was elected president.And then history just kept speeding up. The Tea Party. The debt ceiling debacles. Donald Trump. The coronavirus pandemic. January 6th. The big lie. Maddow covered and tried to make sense of it all. Now, after 14 years, she has taken her show down to one episode a week and is beginning other projects — like “Ultra,” the history podcast we discuss in this episode.But I wanted to talk to Maddow about how American politics and media has changed over the course of her show. We discuss the legacies of the wars in Iraq and Afghanistan, the cycle of economic crises we appear to keep having, Maddow's relationships with Pat Buchanan and Tucker Carlson, where the current G.O.P.'s anti-democracy efforts really started, how Obama's presidency changed politics, how Maddow finds and chooses her stories, the statehouse Republicans who tilled the soil for Trump's big lie and more.Book Recommendations:Hitler in Los Angeles by Steven J. RossNazis of Copley Square by Charles R. GallagherHitler's American Friends by Bradley W. HartThe Oppermanns by Lion Feuchtwanger1940 by Susan DunnDown in New Orleans Billy SothernThoughts? Email us at email@example.com. (And if you're reaching out to recommend a guest, please write “Guest Suggestion" in the subject line.)You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.“The Ezra Klein Show” is produced by Annie Galvin, Jeff Geld and Rogé Karma. Our researcher is Emefa Agawu. Fact-checking by Michelle Harris, Mary Marge Locker and Kate Sinclair. Original music by Isaac Jones. Mixing by Jeff Geld. Audience strategy by Shannon Busta. Special thanks to Kristin Lin and Kristina Samulewski.
On this week's show we discuss why we're getting more excited about stock prices as they fall, why expected returns are rising, where investors will move their money with higher yields, Credit Suisse vs. Lehman Brothers, how the Fed is breaking things across the globe, why the Bank of England stepped in to buy bonds and much more. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership
Remember yesterday when we said Elon Musk is always in the news 3 days in a row? Now the Tesla CEO has changed his mind and offered to buy Twitter for his original price of $44B. Liquid Death just hit a $700M valuation for canned water that tastes like an Iron Maiden tattoo (but is it their Macarena Moment?). And Credit Suisse is getting all the attention this week, but for the wrong reason: Investors are getting Lehman Brothers vibes. $TWTR $CS $KO Follow The Best One Yet on Instagram, Twitter, and Tiktok: @tboypod And now watch us on Youtube Want a Shoutout on the pod? Fill out this form Got the Best Fact Yet? We got a form for that too Learn more about your ad choices. Visit podcastchoices.com/adchoices
Climate change is making storms stronger and more destructive. In the aftermath of Hurricane Ian, some are wondering whether investing in rebuilding is really worth it. We’ll discuss. Plus, why the drama over Credit Suisse is not a Lehman Brothers moment. And, the parody news site The Onion filed an amicus brief, and it’s truly a chef’s kiss! Here’s everything we talked about today: “Should we rebuild in hurricane-prone areas?” from Poynter “Surviving Hurricane Ian in a Fort Myers Apartment Complex” from The New Yorker “Pakistanis save their town from floodwaters by building an embankment” from NPR “Credit Suisse Whipsaws as CEO Memo Backfires, Analysts Back Bank” from Bloomberg Tweet from @AnthonyMKreis on The Onion’s amicus brief Read: The Onion’s brief about satire Donate any amount and download five exclusive Marketplace ring tones: https://support.marketplace.org/smart-sn