"And so we see the private market as a very interesting space because as I said, if everybody had 20% of their portfolio in private markets, we're moving from almost zero in a mass affluent hand to 20%. That's a lot of wealth, but that wealth requires a lot of thinking, a lot of platforms, a lot of technology innovation to solve. Because private markets are very complex. If you think about simple things like cryptocurrencies or stocks, the way that it trades, the post asset servicing is quite simple." - Choo Oi-Yee Fresh out of the studio, Choo Oi-Yee, CEO of ADDX, joined us in a conversation to discuss the company's platform to serve the private markets and reviewed the state of private markets in the Asia Pacific. She began the conversation with the market opportunity of the private markets and how ADDX facilitates the interactions between the accredited investors and the entrepreneurs seeking funds through their products and services on the platform. Last but not least, she shared her perspectives on how companies can thrive in a challenging economic climate and the possibility of secondary exits through other instruments such as SPACs or acquisitions in the current market. Podcast Information: The show is hosted and produced by Bernard Leong (@bernardleong, Linkedin) and Carol Yin (@CarolYujiaYin, LinkedIn). Sound credits for the intro and end music: "Energetic Sports Drive" and the episode is mixed & edited by Geoffrey Thomas Craig (LinkedIn).
Meet Our Guest, Jason Sheehan CPA, Director of Finance, Griid LinkedIn: https://www.linkedin.com/in/jason-sheehan-cpa/Learn more about GriidWebsite: https://www.griid.com/Need CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts Podchaser: http://cloudacctpod.link/podchaser Spotify: http://cloudacctpod.link/Spotify Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast YouTube: https://www.youtube.com/c/CloudAccountingPodcast ClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info.Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd Full Transcript Available Upon Request: email@example.com
The market is down, but so are valuations for private companies looking at their strategic options. There are now bargains to be had for recent de-SPACs looking to execute a post-listing roll-up strategy, according to FiscalNote Chairman, CEO and co-founder Tim Hwang. This week, we catch up with Tim to talk about how his company has kept busy in the two months since closing its combination with Duddell Street. Tim reflects on how FiscalNote was able to prioritize key conditions in getting the right SPAC deal and how it is already taking advantage of being a publicly company. FiscalNote collects data on the regulatory processes in the US and abroad from federal institutions all the way down to local school boards. Tim also talks about the growing demand for data in these realms and how the pandemic increased the number of touch points governments at every level have on business operations.
Gary Gensler has spent just a little over a year and a half as the head of the Securities and Exchange Commission (SEC), America's top markets regulator. In that time, he's proposed 40 separate filings for rules, given 60 speeches, and intervened, in sometimes controversial ways, in everything from crypto to SPACs to environmental regulations. In other words: he is getting a lot done and making a lot of people angry. On this week's episode, hosts Alice Fulwood, Mike Bird and Soumaya Keynes sit down with Mr Gensler to try and figure out what he wants to accomplish and how he plans on getting it all done. They discuss everything from the functioning of the Treasury market, to efforts to prioritise retail investors in the wake of the meme-stock craze, to why he thought it was important that the SEC fine the reality television star Kim Kardashian.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.
Gary Gensler has spent just a little over a year and a half as the head of the Securities and Exchange Commission (SEC), America's top markets regulator. In that time, he's proposed 37 separate filings for rules, given 60 speeches, and intervened, in sometimes controversial ways, in everything from crypto to SPACs to environmental regulations. In other words: he is getting a lot done and making a lot of people angry. On this week's episode, hosts Alice Fulwood, Mike Bird and Soumaya Keynes sit down with Mr Gensler to try and figure out what he wants to accomplish and how he plans on getting it all done. They discuss everything from the functioning of the Treasury market, to efforts to prioritise retail investors in the wake of the meme-stock craze, to why he thought it was important that the SEC fine the reality television star Kim Kardashian.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.
Join Shane and Veronica AJ as they cover the culture-shaking EU decision to adopt a universal charger requirement for smartphones, a recap of this week's XY Planning Network conference, and Lufthansa's new pseudo-ban on AirTags. Also on deck are the not-great Q3 IPO review, some hopeful prospects for Q4, and Warren Mason's definitely-happening Taco Hell SPAC. Parting thought is to look up and look forward to SkyNet and the inevitable fall of the semiconductor industry. Think happy thoughts, listeners! Links EU lawmakers impose single charger for all smartphones Lufthansa "bans AirTags in luggage" after passengers publicly shame it with location of lost bags | Boing Boing Micron Pledges Up to $100 Billion for Semiconductor Factory in New York Even After $100 Billion, Self-Driving Cars Are Going Nowhere Want to know more about working with BrooklynFI, contact us here
In this week's special episode, we are discussing the deals market in 2022. Host Heather Horn sat down with Mike Bellin and John Vanosdall, partners in PwC's Deals practice, to get some insight on current deals trends and how companies can prepare for IPOs, M&A's, and other capital market transactions in today's environment.In this episode you'll hear:1:37 - Key impacts on the deals market from inflation, interest rates, supply chain, and geopolitical events6:30 - How companies are structuring deals and M&A transactions to maximize value given current market conditions17:49 - How this year's deals market has impacted the diligence process20:40 - The importance of managing regulatory, accounting, and impairment considerations proactively28:13 - How geopolitics and ESG continue to be at the forefront of discussions in getting transactions done31:52 - Insights on how companies can manage IPO and deal readiness in the midst of volatilityWant to learn more? Check out the Q3 capital markets watch, learn more on transformation in the M&A market, and sign up to receive a copy of our Deals 2023 outlook report.Mike Bellin is a PwC Deals partner and co-leads PwC's IPO Services practice. Mike focuses on IPOs, SPACs, accounting for carve-outs/spin-offs, purchase accounting, pro forma financial statements, stock compensation, the SEC registration process, and much more. In addition, he frequently advises on IPOs, helping his clients with their initial registration process and operational readiness.John Vanosdall is a partner in PwC's Deals practice. He has 10+ years of experience providing corporate and private equity clients in the technology sector with advice on complex M&A accounting issues, including business combinations, disposal transactions, and fair value measurements. John spent 4 years working at the SEC, two of those years as Deputy Chief Accountant, where he led the SEC staff's work to oversee the Financial Accounting Standards Board.Heather Horn is a Deputy Chief Accountant in PwC's National Office and leader of the thought leadership group, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to firstname.lastname@example.org.
This week we speak with Jay Chandan, Chairman and CEO of Gorilla Technology, and Raj Natarajan, its Chief Innovation Officer. Gorilla closed a $720 million combination with Global SPAC Partners in July and has since been a bright spot among recent de-SPACs, consistently trading in the $11 to $12 range. Jay and Raj explain how the 20-year-old video intelligence company is meeting the growing demand for new AI solutions in the edge computing space, and how its mix of public readiness and a willingness to make changes to the initial deal to meet the changing market have helped Gorilla to be successful post-close.
Josh Brown, co-founder and CEO of Ritholtz Wealth Management, a New York City-based investment advisory firm managing over $2.7 billion, joins Julia La Roche on episode 21. Josh, a frequent commentator on CNBC, is the author of three books, including Backstage Wall Street and the popular financial blog, The Reformed Broker. In this episode, Josh shares his journey from a retail stockbroker launching a financial blog during the 2008 crisis to building and scaling an RIA. For Josh, writing changed the course of his career. Writing is what connected Josh with his firm's co-founder, and creating content through blogs and podcasts has been the sole driver of the firm's clients. These days, Josh has slowed the frequency of his blog posts, but when he writes it's an accumulation of ideas he's been pondering, and the latest blog he dropped on Sunday, Oct. 2, though, called “You Weren't Supposed To See That,” went viral. In 3,400 words, Josh examines “the greatest economic experiment” of the last three years, from the shutdowns, remote work enabled by technology, the stimulus, appreciation in stocks and housing, the emergence of digital art and SPACs, an increase in new businesses and LLCs, used car prices going up, household debt shrinking, household net worth rising, squandering of stimulus checks, and so on, all resulting in the worst inflation in 40 years. As Josh highlights on the podcast, all of this revealed “a dark truth about the American dream.” As Josh puts it in the blog, “Widespread prosperity, it turns out, is incompatible with the American Dream. The only way our economy works is when there are winners and losers. If everyone's a winner, the whole thing fails. That's what we learned at the conclusion of our experiment. You weren't supposed to see that. Now the genie is out of the bottle. For one brief shining moment, everyone had enough money to pay their bills and the financial freedom to choose their own way of life. “And it broke the f*****g economy in half.” Timestamps: 0:00 Intro 2:16 Retail stockbroker to blogger 3:59 Lessons from broker days 7:08 Blogging during the financial crisis 9:53 Writing is essential for investors 13:18 Teaming up with Barry Ritholtz 15:37 Content is the sole driver of clients 19:31 “You weren't supposed to see that” 23:50 A dark truth about the American dream 25:11 Legal immigration is one solution 28:44 Views on the “American Dream” 32:30 Implications for younger Americans 35:42 Where does the blame lie? 37:26 Mass prosperity wasn't the goal 38:15 Reactions to the viral blog post 40:12 This recession is necessary to prevent the next recession. - Fed policy, literally 41:35 Why @Downtown doesn't Tweet often 48:06 Where do we go from here?
Introduction Welcome to Distilling Venture Capital. I am your host, Bill Griesinger; Distilling VC is a visionary podcast that provides an insightful and informed view of the key trends affecting the VC and tech startup world. It is your podcast for Fintech, Decentralized Finance, Blockchain and Smart Contracts, Digital Banking and all the frontier technologies that are changing the financial landscape globally. Episode Introduction: Welcome back everyone. We have a fantastic program for you today. I am excited about today´s conversation because I have the pleasure of welcoming to the podcast Jonathan Hung; Jonathan is a successful and accomplished angel investor based in Los Angeles. He is considered one of the most active angel investors in Southern California. In addition, he serves as Co-Managing Partner at Unicorn Venture Partners and Senior Venture Partner and Head of Due Diligence at Expert Dojo. We´ll get into that and a lot more. Jonathan, thank you for making the time to be on the podcast today; So, before we dig into the meat of your work as an angel investor and venture partner, we typically begin by having you provide your background and details about your journey, more broadly, that led you into technology and angel investing… In addition to providing venture capital funding and advisory support, Jonathan also provides business mentorship based on his experience running U.S. and China offices as the President of United Overseas Textile Corporation. Jonathan was also a Managing Member for his family office fund, J Heart Ventures, which made investments in start-up companies such as Gyft, ChowNow, Miso Robotics, Clover Health, Bitmain, etc. He also leverages various degrees from the University of Southern California, London School of Economics, Massachusetts Institute of Technology, and The Wharton School at the University of Pennsylvania. Topic Areas Covered with Jonathan Your investing history in So. Cal and types of sectors, companies you look for; Jonathan and his team target investments in US companies that have global market potential with a focus on long-term growth expansion to East Asian markets. I´d like to highlight some of the Blog topics you cover on your website with respect to: Covered liquidity runway (cash) and monthly cash burn rate Gross Margins Monthly Recurring Revenue Operating Income/Net Income Web 3.0 and its role in future of startups; touching on blockchain, smart contracts, DeFi etc. 10 key metrics you look for in evaluating prospective investment Alternative funding strategies SPACs and SPVs; Distinguish between the two. Also, particularly since SPACs were all the rage in 2020-2021 but as a sector haven´t done well as public companies Your views on Leadership and Successful team building Other areas you would like to cover; Closing Remarks: Jonathan, thank you very much for joining me today on the program… Jonathan, how can those who are interested in learning more about you and your practice in So. California get in touch? Contact Information Website: jonathanhung.com Social Media (if applicable): Or, Linkedin: Jonathan Hung Thank you for joining me for this edition of DVC. I hope you found today's discussion with Jonathan Hung interesting and it gave you some additional insights into the state of angel investing in So. California and beyond. Stay tuned for my next Episode of DVC…thank you.
With rates and currency markets experiencing increasing volatility, the state of global U.S. dollar supply has begun to force central bank moves, leaving the question of when and how the Fed may react up for debate.----- Transcript -----Welcome to Thoughts on the market. I'm Mike Wilson, Chief Investment Officer and Chief U.S. Equity Strategist for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about the latest trends in the financial marketplace. It's Monday, October 3rd, at 11 a.m. in New York. So let's get after it. The month of September followed its typical seasonal pattern as the worst month of the year, and given how bad this year has been, I don't say that lightly. But as bad as stocks have been, rates and currency markets have been even more volatile. With volatility this severe, some of the cavalry has been called in. The Bank of England's surprise move last week was arguably necessary to protect against a sharp fall in U.K. bonds. Some may argue the U.K. is in a unique situation, and so this doesn't portend other central banks doing the same thing. However, this is how it starts. In other words, investors can't be as adamant the Fed will choose or be able to follow through on its tough talk. Like it or not, the world is still dependent on U.S. dollars, which provide the oxygen for global economies and markets. Former U.S. Treasury Secretary John Connolly's famous quote that "the dollar is our currency, but it's your problem" continues to ring true. It's also one of the primary reasons why several countries have been working so hard to de-dollarise over the past decade. The U.S. dollar is very important for the direction of global financial markets, and this is why we track the growth of global dollar supply so closely. In fact, the primary reason for our mid-cycle transition call in March of 2021 was our observation that U.S. dollar money supply growth had peaked. Indeed, this is exactly when the most speculative assets in the marketplace peaked and began to suffer. Things like cryptocurrencies, SPACs, recent IPOs and profitless growth stocks trading at excessive valuations. Now we find global U.S. dollar money supply growth negative on a year over year basis, a level where financial and economic accidents have occurred historically. In many ways, that's exactly what happened in the U.K. bond market last week, forcing the Bank of England's hand. There are many reasons why a U.S. dollar liquidity is so tight; central banks raising rates and shrinking balance sheets, higher oil prices and inflation in many goods bought and sold in dollars, incremental regulatory tightening and lower velocity of money in the real economy as activity dries up in critical areas like housing. In short, U.S. dollar supply is tight for many reasons beyond Fed policy, but only the Fed can print the dollars necessary to fix the problem quickly. We looked at the four largest economies in the world, the U.S., China, the Eurozone and Japan, to gauge how much U.S. dollar liquidity is tightening. More specifically, money supply in U.S. dollars for the Big Four is down approximately $4 trillion from the peak in March. As already mentioned, the year over year growth rate is now in negative territory for the first time since March of 2015, a period that immediately preceded a global manufacturing recession. In our view, such tightness is unsustainable because it will lead to intolerable economic and financial stress, and the problem can be fixed very easily by the Fed if it so chooses. The first question to ask is, when does the U.S. dollar become a U.S. problem? Nobody knows, but more price action of the kind we've been experiencing should eventually get the Fed to back off. The second question to ask is, will slowing or ending quantitative tightening be enough? Or will the Fed need to restart quantitative easing? In our opinion, the answer may be the latter if one is looking for stocks to rebound sustainably. Which leads us to the final point of this podcast - a Fed pivot is likely at some point given the trajectory of global U.S. dollar money supply. However, the timing is uncertain and won't change the downward trajectory of earnings, our primary concern for stocks at this point. Bottom line, in the absence of a Fed pivot, risk assets are likely headed lower. Conversely, a Fed pivot, or the anticipation of one, can still lead to sharp rallies like we are experiencing this morning. Just keep in mind that the light at the end of the tunnel you might see if that happens, is actually the train of the oncoming earnings recession that even the Fed can't stop. Thanks for listening. If you enjoy Thoughts on the Market, please take a moment to rate and review us on the Apple Podcast app. It helps more people to find the show.
How to Invest: Masters on the Craft by David M. Rubenstein NEW YORK TIMES BESTSELLER A master class on investing featuring conversations with the biggest names in finance, from the legendary cofounder of The Carlyle Group, David M. Rubenstein. What do the most successful investors have in common? David M. Rubenstein, cofounder of one of the world's largest investment firms, has spent years interviewing the greatest investors in the world to discover the time-tested principles, hard-earned wisdom, and indispensable tools that guide their practice. Rubenstein, who has spent more than three decades in the hypercompetitive world of private equity, now distills everything he's learned about the art and craft of investing, from venture capital, real estate, private equity, hedge funds, to crypto, endowments, SPACs, ESG, and more. -How did Stan Druckenmiller short the British pound in one trade for a profit of $1 billion dollars? -What made Sam Zell the smartest, toughest investor the world of real estate has ever seen? -How did Mike Novogratz make $250 million off crypto in one year? -How did Larry Fink build BlackRock from scratch into a firm that manages more than $10 trillion? -How did Mary Callahan Erdoes rise to the top of J.P. Morgan's wealth management division to manage more than $4 trillion for individuals and families all over the world? -How did Seth Klarman perfect value investing to consistently deliver net returns of nearly 20 percent? With unprecedented access to global leaders in finance, Rubenstein has assembled the most authoritative book of its kind. How to Invest reveals the thinking of the most successful investors in the world, many of whom rarely speak publicly. Whether you're brand-new to investing or a seasoned professional, this book will transform the way you approach investing forever.
En esta tertulia entramos en profundidad en temas de Inteligencia Artificial y arte: ¿qué está sucediendo con la música, la pintura y la escritura cuando la IA está logrando crear de forma "muy humana"? Aprovechamos este debate para hacer un poco de filosofía en torno a lo que significa la creatividad. Para generar contraste, también hablamos del caso de Stripe y las acciones de sus empleados, discutiendo sobre las Stock Options, las SPACS, las salidas a bolsa y otras formas de liquidar acciones. Por último, conversamos sobre la percepción en torno a la vida del emprendedor: ¿se diferencia la pasión por el trabajo, a la pasión por un arte y/o un deporte? No te pierdas la próxima tertulia para participar en las rondas de preguntas que hacemos al final. Sigue a los "tertulianos" en Twitter: • Bernat Farrero: @bernatfarrero • Jordi Romero: @jordiromero • César Migueláñez: @heycesr EVENTOS Pitch to Investors (Todos los jueves 19h) - https://itnig.net/events/ Itnig Talks - https://youtube.com/playlist?list=PLs8CZ4blcEKtLcFE2Y-3TfNp4nmo15BHx SOBRE ITNIG Twitter - https://twitter.com/itnig LinkedIn - https://es.linkedin.com/company/itnig Instagram - https://www.instagram.com/itnig/ Newsletter - https://itnig.net/newsletter/ Web - https://itnig.net/ ESCUCHA NUESTRO PODCAST EN Spotify: http://bit.ly/itnigspotify ️ Apple Podcast: http://bit.ly/itnigapple
SPACs were hot. Then they were not. But by sticking to his original vision — and keeping his incentives aligned with those of his shareholders — Bradley closed his acquisition last week. He explains how and why. Plus, why Democrats are thinking too hard (again) about their options in 2024.
This week on Prof G Markets, Scott shares his thoughts on Chamath Palihapitiya's decision to close two of his SPACs. He then explains why Wall Street Banks are on the hook for $700 million after the leveraged buyout of Citrix, a software company. And in this week's deep dive, we take a look at why Adobe would pay $20 billion for the design software company Figma in what may be the largest acquisition of a private technology company ever. Chamath's SPACS Citrix's LBO Adobe's Acquisition Learn more about your ad choices. Visit podcastchoices.com/adchoices
In this week's pod we analyze the sharp market selloff, the broken bond market and the death of the balanced 60/40 bond/equity portfolio. We also present a framework for investing in growth stocks in the current market environment: Big Tech, SPACs, SaaS, cannabis & psychedelics. The Grizzle Pod is brought to you by YCharts ( ycharts.com ) and the GRZZ ETF ( etf.grizzle.com ).
Costa Group, Australia's largest fresh produce grower, has seen its CEO step down after just 18 months - and investors did not like the sound of this. SPAC season is officially over after one of the leaders in the space announced he was closing two massive SPACs after struggling to find any good deals. Nio, one of the largest electric vehicle companies in the world, has just invested a significant chunk in a small Brisbane-based lithium miner. --- Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download the free app (Google Play): http://bit.ly/FluxappGooglePlay Daily newsletter: https://bit.ly/fluxnewsletter Flux on Instagram: http://bit.ly/fluxinsta Flux on TikTok: https://email@example.com --- The content in this podcast reflects the views and opinions of the hosts, and is intended for personal and not commercial use. We do not represent or endorse the accuracy or reliability of any opinion, statement or other information provided or distributed in these episodes.See omnystudio.com/listener for privacy information.
The Biden administration makes a full-court press at crypto. Could a digital dollar be next? Also, the FTC wants the dirt on the Amazon/Roomba deal. Trump says he can use the power of thought to declassify documents, but there's one thing he didn't think of: a new lawsuit from NY's Attorney General. Kara and Scott take a listener question about prioritizing your career and your clients. Send us your questions! Call 855-51-PIVOT or go to nymag.com/pivot. Learn more about your ad choices. Visit podcastchoices.com/adchoices
MANDANOS TU PROYECTO firstname.lastname@example.org DESCUENTOS PARA CONTINUAR LAS FIESTAS PATRIAS CON MEZCAL ALERÓN www.mezcalaleron.com - 20% de descuento ww.mezcalaleronusa.com - 15% de descuento ¡Emprendeduros! En el episodio de hoy Rodrigo y Alejandro nos da una actualización de mercado donde discuten el reciente anuncio del FED, la crisis de energía y la continua guerra en Ucrania. Después hablan del reporte de ingresos de FedEx. También hablan de los nuevos ETFs a seguir. Después hablan de la muerte de las SPACs y de los cambios de Twitch. Finalmente nos dan la actualización de Cryptos donde hablan del error de $19 millones de Binance, el nuevo Euro Digital y los comentarios de Jamie Dimon. ¡Clic en el enlace para encontrar el podcast en otras plataformas! https://linktr.ee/emprendeduros
What does it say that no private company wants a check for $1.1 billion? (0:21) Bill Mann discusses: - The stock market being surprised that the Fed raised rates by 0.75% (as almost everyone expected) - Chamath Palihapitiya shutting down two SPACs and returning money to investors - Whether SPACs are essentially over (13:02) Rachel Warren talks with author Ross Dawson about his new book Thriving on Overload: The 5 Powers for Success in a World of Exponential Information. Got questions about stocks? Drop an email to email@example.com or call the Motley Fool Money Hotline at 703-254-1445. Host: Chris Hill Guests: Bill Mann, Rachel Warren, Ross Dawson Producer: Ricky Mulvey Engineers: Dan Boyd, Brandon Gentry
On this episode: We have a large news slate with the Fed hiking another 75bps, Spacs going bust and Spotify launching audio books: Rapid Fire questions of the week? https://www.instagram.com/delano.saporu/?hl=en Connect with me here also: https://newstreetadvisorsgroup.com/social/ Want to support the show? Feel free to do so here! https://anchor.fm/delano-saporu4/support Thank you for listening --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/delano-saporu4/support
This week, we speak with Len Liptak, CEO of ProSomnus Sleep Technologies, which announced a $168 million combination with Lakeshore Acquisition I Corp. (Nasdaq: LAAA), in May. ProSomnus has developed a new device to treat obstructive sleep apnea that disrupts the need for its millions of sufferers to be connected to ventilators at night. Len explains how the COVID-19 pandemic increased the need for sleep apnea treatments, and how this deal will help power its continued commercialization. Lakeshore I CEO and Chairman Bill Chen joins to tell us why it was important that ProSomnus is already generating revenue and how SPACs can still compete for quality targets in the current market.
Michelle Martin and Arun Pai, Investments Team, Monks Hill Ventures examine the ramifications of the US's Fed rate hike of 75 basis points & question the 2% inflation target. They also discuss if the thriving days of SPACs are in question and how quadruple witching affects the stock markets. See omnystudio.com/listener for privacy information.
Today we have a special episode for you today from last weeks' Future Proof Festival. I recorded live with Steve Romick, portfolio manager for the FPA Crescent Fund and one of my favorite portfolio managers to talk to. In today's episode, Steve shares his view of the world and where he sees value today. He explains why he owns Google, Comcast, CarMax, and even some SPACs and convertible bonds. Then he updates us on investments we discussed on his first appearance on the podcast in 2019, including farmland and container ships. To listen to Steve's first appearance on The Meb Faber Show back in 2019, click here ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today's episode is sponsored by Composer. Composer is the premier platform for investing in and building quantitative investment strategies. What used to take Python,Excel and expensive trading software is available for free in an easy to use no-code solution. Learn more at www.cmpsr.co/meb. ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!
Is #ElonMusk listening to fellow billionaires Robert Friedland, Jim Litinsky and Chris Ellison who print money mining & refining rock? Is a Teslandia world part of Master Plan 3? Is one or more spodumene, nickel or graphite projects in Elon's sights? #Lithium #nickel #graphite #rareearths
Tuesday SPAC-tacular! J+M cover the biggest on-goings in the world of SPACs, including: the latest in the trial of former Nikola CEO Trevor Milton (1:55), Chamath winding down $IPOD and $IPOF and returning money to investors (30:53), and a breakdown of Rumble's business after completing its SPAC! (42:55) (0:00) J+M tee up today's SPAC-tacular episode! (1:55) More chaos at Nikola, Jason reacts to TWiST interview reportedly being used in court (10:48) Vanta - Get $1000 off your SOC 2 at https://vanta.com/twist (12:04) State of charges against former Nikola CEO Trevor Milton, lessons for founders to take away from this saga (23:18) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/TWIST (24:37) How Jason avoids founders pitching ahead of their skis (30:53) Chamath to wind down $IPOD and $IPOF (35:06) Revelo - Get 20% off the first 3 months by mentioning TWIST at https://revelo.io/twist (36:33) Jason's thoughts on the market and the state of SPACs, plus a JAY TRADE! (42:55) Rumble completes SPAC merger, J+M break down the business FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood Subscribe to our YouTube to watch all full episodes: https://www.youtube.com/channel/UCkkhmBWfS7pILYIk0izkc3A?sub_confirmation=1
Tomorrow, the Fed will announce its latest interest rate hike… and investors are on the edge of their seats as they wait to hear from Fed Chair Jerome Powell. I bring in Daniel Creech to get his take on how hawkish (or dovish) the Fed will be. Daniel shares some wild details from Powell's recent speech from Jackson Hole… and explains why Fed members are happy to see the markets fall. I recap why the Fed is out of its mind lately, as it ignores the most important data when it comes to inflation. But there's still a chance it comes to its senses. I break down exactly what the Fed could say that would spark a 1,000-point rally tomorrow. Hedge fund manager and “SPAC King” Chamath Palihapitiya is in the news again after canceling two of his SPAC deals. Prepare for a rant on why SPACs aren't a level playing field for regular investors… how these rich guys pump the share prices before dumping their positions… and how much money Chamath made on these kinds of deals. Lastly, if you're interested in fully-vetted private placement deals, check out a membership to , where you'll have access to amazing opportunities from an insider network you can trust. In this episode Why the Fed is happy about this bear market [0:30] Why the markets could rally 1,000 points tomorrow [7:33] The Fed should pay attention to FedEx's warning [20:15] The “SPAC King” is full of s*** [25:15] Proof SPAC investing isn't a level playing field [29:50] Investments that give individual investors access to Wall Street gains [38:30] Enjoyed this episode? Get Wall Street Unplugged delivered FREE to your inbox every Wednesday: https://www.curzioresearch.com/wall-street-unplugged/ Wall Street Unplugged podcast is available at: --: https://itunes.apple.com/us/podcast/wall-street-unplugged-frank/ -- : https://www.stitcher.com/podcast/curzio-research/wall-street-unplugged-2 -- : https://www.curzioresearch.com/category/podcast/wall-street-unplugged/ : https://twitter.com/frankcurzio :. https://www.facebook.com/CurzioResearch/ : https://www.linkedin.com/in/frank-curzio-690561a7/ :
Bonjour, and welcome to the Pathfinder in Paris experience, powered by Payload. We've got a surprise in store for you today – a twofer! That's right, two guests for the price of one, and packaged up into one standard length podcast. In this week's episode, and our second dispatch from back-to-back space conferences in Paris, Ryan sits down with Redwire CEO and Chairman Peter Cannito, followed by an interview with Al Tadros, Redwire's chief technology officer. Redwire is a full-stack space infrastructure company based in Jacksonville, Florida, and publicly traded on the New York Stock Exchange ($RDW). The first half of the podcast features our conversation with Peter, who is also an operating partner at AE Industrial Partners. The space-focused private equity player has more than $3 billion in assets under management and hatched Redwire in late 2020 by merging Adcole Space and Deep Space Systems, and has also backed Firefly, Sierra, and other big space names. With Peter, we discuss Redwire's M&A strategy, business roadmap, growth markets, investing in space, AE's central role in the space ecosystem, and the geopolitics of space. Peter has spent 25+ years in the defense, tech, and government contracting sectors, and was formerly the CEO of Polaris Alpha. He holds a bachelor's from U Delaware, an MBA from Maryland, and served as an officer in the US Marines. The second half of today's episode features our conversation with Al, who makes strategic investments that support Redwire's customer base, advance technology development, and further commercialization. Al has nearly three decades of experience as an aerospace executive and has straddled both business and technical leadership functions, which makes his perspective particularly unique and valuable. Prior to being named as CTO of Redwire earlier this year, Al was the company's chief growth officer and executive vice president of space infrastructure. Before Redwire, Al was VP of space infrastructure and and civil space at Maxar Technologies. Al holds a bachelor's degree in aerospace engineering and a master's in mechanical engineering from MIT. Today's episode of Pathfinder is brought to you by SpiderOak Mission Systems, an industry leader in cybersecurity. Check out SpiderOak's space cyber whitepaper at spacecyber.com -- TIMESTAMPS 0:00 - Intro 2:30 - Show begins with Peter 4:49 - International expansion 7:08 - Square footage...correlated with company success? 9:07 - Operator + investor experience in space 14:30 - Space macro discussion 17:44 - Taking Redwire public via SPAC, and why not all space SPACs are created equal 22:02 - Peter's take on geopolitical trends shaping space, and a modern-day space race with China 26:27 - Al joins + tells us about the Redwire CTO role 27:10 - His journey at Redwire and rising up the ranks 33:00 - Redwire's technology portfolio 35:07 - Robotics in space 38:47 - Flight-proven hardware, structures on the ISS, etc. 42:01 - Where is the European space sector headed? 45:00 - The space industry always has room for more fresh talent, including folks in non-technical roles -- Pathfinder is brought to you by Payload, a modern space media brand. While we have designs on becoming the biggest space content company in the galaxy, for now, we publish Payload, our flagship newsletter, from Monday to Friday; Pathfinder, and Parallax. Parallax is our brand-spanking new weekly science newsletter for the space industry. Subscribe now so you can say you were early by signing up at parallax.beehiiv.com You can subscribe to our daily newsletter and find out more about Payload at payloadspace.com
Philipp sieht dubiose Werbung auf YouTube und hat Amazon Schulden. Danke Landesbank Berlin! Bei Google wird sogar im Research und Development gespart. Wix geht ab und Pip schaut sich DigitalOcean an. Wann ist ein Start-up ein Venture Case? Dazu gibt es noch Nasen, SPACs und Audiobook. Philipp Glöckler (https://twitter.com/gloeckler) und Philipp Klöckner (https://twitter.com/pip_net) sprechen heute über: (00:00:25) DGClips (00:03:15) YouTube Werbung (00:06:05) R&D bei Google (00:08:10) Amazon Schulden (00:14:10) Wix Aktie (00:16:45) DigitalOcean Aktie (00:20:30) Twitch am 5. Oktober (00:22:00) Is your startup a venture case? (00:26:35) Nase (00:29:40) Chamath's SPACs (00:31:45) Porsche IPO (00:33:10) Spotify audiobooks Shownotes: YouTube Werbung: https://twitter.com/gloeckler/status/1571768376178970624 Amazon Schulden: https://twitter.com/gloeckler/status/1571845079589093376 Netflix Wirecard Doku: Skandal! Bringing Down Wirecard https://www.netflix.com/de-en/title/81404807 **Doppelgänger Tech Talk Podcast** Doppelgänger & Friends auf Twitch https://www.twitch.tv/doppelgaengerio Sheet https://doppelgaenger.io/sheet/ Earnings & Event Kalender https://www.doppelgaenger.io/kalender/ Disclaimer https://www.doppelgaenger.io/disclaimer/ Passionfroot Storefront https://www.passionfroot.xyz/storefront/doppelgaenger Post Production by Jan Wagener https://twitter.com/JanAusDemOff
Carl Quintanilla, Jim Cramer and David Faber explored the market moves as the Fed begins its two-day policy meeting. Amid expectations of an aggressive rate hike, should you park your money in a 2-year note yielding close to 4% -- or stocks? Cramer weighs in. The anchors reacted to what the CEOs of Home Depot and Intuit told CNBC about inflation and the consumer. Also in focus: Ford's third-quarter warning due to supply costs and parts shortages, Microsoft's dividend hike, venture capitalist Chamath Palihapitiya closing two SPACs, a judge denies the Department of Justice's request to block the UnitedHealth-Change Healthcare merger deal and Amazon offers a bullish take on streaming Thursday Night Football.
In zehn Tagen soll der Sportwagenbauer Porsche an die Börse gehen. Wie attraktiv der größte Börsengang Europas für Anleger ist. Ab morgen können Investoren ihre Orders für den anstehenden Porsche-Börsengang platzieren. Die Aktien werden in einer Preisspanne von 76,50 bis 82,50 Euro angeboten. Porsche könnte dadurch eine Bewertung von 70 bis 75 Milliarden Euro erhalten. Noch steht nicht endgültig fest, dass der Börsengang überhaupt stattfindet, doch aktuell ist unser Handelsblatt-Chefreporter Martin Murphy optimistisch. „Dieser Börsengang ist eigentlich ziemlich sicher. Die Frage ist, zu welchem Preis er dann kommen wird.“ Lohnt sich für Anleger also ein Einstieg innerhalb der vorgegebenen Preisspanne? „Wer meint, er kann hier zocken, der verdient vielleicht einen schnellen Euro, wenn die Aktie am Anfang hochgeht", sagt Murphy im Interview mit Handelsblatt-Today-Host Lena Jesberg. Mittelfristig könne die Aktie jedoch durchaus an Wert verlieren. Lohnen würde sich die Aktie deswegen eher als Geldanlage mit einem Zeithorizont von mehreren Jahren. Wie genau der Börsengang abläuft und unter welchen Umständen er doch nicht stattfinden könnte, erfahren Sie in der heutigen Folge von Handelsblatt Today. Außerdem: Der Markt für sogenannte Special Purpose Acquisition Companies, kurz Spacs, liegt am Boden. Selbst erfahrene Sponsoren ziehen sich aus dem Börsengang per Firmenhülle zurück. Dabei erfuhren die Spacs im vergangenen Jahr einen großen Hype. Doch der scheint vorbei zu sein: Ein Mix aus Rezessionsängsten, Inflation, Zinswende und Ukrainekrieg hat den Finanzmärkten zugesetzt und den Markt für Börsengänge in Europa beinahe zum Erliegen gebracht. Jetzt notieren fast alle Spacs im Minus, an neuen Vehikeln haben Investoren kaum mehr Interesse. Dazu kommt das Problem, Übernahmeziele zu finden. Während der 24 Monate, in denen die Spacs Zeit haben, einen Übernahmekandidaten zu finden, haben die Anteilseigner ein Recht, ihre Anteile wieder zurückzugeben. Warum davon aktuell viele Anteilseigner Gebrauch machen und was passieren muss, um den Spacs-Hype wieder aufleben zu lassen, erklärt Handelsblatt-Redakteur Peter Köhler. Hier finden Sie Artikel zu den Interviews: [Porsche legt Preisspanne für Börsengang fest – Bewertung von bis zu 75 Milliarden Euro](https://www.handelsblatt.com/unternehmen/industrie/ipo-porsche-legt-preisspanne-fuer-boersengang-fest-bewertung-von-bis-zu-75-milliarden-euro-/28684080.html) [Das Ende des Spac-Booms: Börsenmänteln fehlen Investoren und Übernahmeziele](https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/neuemissionen-das-ende-des-spac-booms-boersenmaenteln-fehlen-investoren-und-uebernahmeziele/28683608.html) *** Wir haben ein exklusives Abo-Angebot für Sie als Handelsblatt-Today-Hörerinnen und -Hörer: [Testen Sie Handelsblatt Premium 4 Wochen für 1 € und bleiben Sie immer informiert, was die Finanzmärkte bewegt.](www.handelsblatt.com/mehrfinanzen) Wenn Sie Anmerkungen, Fragen, Kritik oder Lob zu dieser Folge haben, schreiben Sie uns gern per E-Mail: firstname.lastname@example.org Ab sofort sind wir bei WhatsApp, Signal und Telegram über folgende Nummer erreichbar: 01523 – 80 99 427
Javier Saade is a founder and managing partner of Impact Master Holdings, a venture partner at Fenway Summer, and a long-time friend of the show. On today's episode, Javier and Mark cover a wide range of hot topics, including SPACS (Special Purpose Acquisition Companies), crypto, FinTech, and venture capital in the Washington D.C. area.
In our ‘Golden' 50th episode, Martin Britton, who is the MD for GLI EMEA, joined us to talk through what the future holds for the industry in new and developing markets around licensing and testing requirements. In other news, the guys discuss the continued UK National Lottery licensing fallout between Allwyn and Camelot, along with SPACs, changing faces and controversy at Lottery.com and more regulatory oversight for Entain to deal with down under. Don't forget to like rate review and subscribe and check out our back catalogue at https://bigbettingbalagan.com/ and our YouTube Channel - https://www.youtube.com/thebigbettingbalagan.
This week The Pack is joined by SEC Commissioner Hester M. Peirce (@HesterPeirce on twitter). Commissioner Peirce was appointed to the U.S. Securities and Exchange Commission by the President and was sworn in on January 11, 2018. Prior to joining the SEC, Commissioner Peirce conducted research on the regulation of financial markets at the Mercatus Center at George Mason University. She was a Senior Counsel on the U.S. Senate Committee on Banking, Housing, and Urban Affairs and served as counsel to SEC Commissioner Paul S. Atkins. She also worked as a Staff Attorney in the SEC's Division of Investment Management. Commissioner Peirce earned her bachelor's degree in Economics from Case Western Reserve University and her JD from Yale Law School. Commissioner Peirce offers insights into crypto regulation and shares her regulatory philosophy. In addition to discussing SPACS, stablecoin, and the proliferation of passive investing, she answers the age-old question, Who is better Michigan or Ohio State? Sit back have a drink and get ready to invest in the Wolf SPAC. SHOW LINKS Commissioner Pierce Twitter https://www.sec.gov/biography/commissioner-hester-m-peirce
We spoke with real estate investment marketplace Appreciate, which announced a $416 million deal with PropTech Investment Corp II (Nasdaq: PTIC) in May. CEO Chris Laurence and President Kevin Ortner explain how they built a unique end-to-end platform for real estate investors looking to buy properties to rent out far afield from their local market, be they institutions or moms and pops. They also give us the lowdown on what the single-family rental market looks like from inside the machine and how capital can best be put to work in the current climate. PropTech II's Co-CEO and CFO M. Joseph Beck also joins to walk us through how the SPACs' prolific team has shifted criteria to match the times. Give it a listen
Kodiak Robotics resisted the temptation of going public during the heady days of SPACs, preferring to raise money from venture capital. Now, as its list of partnerships and technology breakthroughs grows, Kodiak is gaining a reputation as a leader in high-level autonomy shedding the late-comer label. Join Don Burnette, Co-Founder & CEO of Kodiak Robotics, and Alan Adler, Detroit Bureau Chief at FreightWaves, in this fireside chat.Follow FreightWaves LIVE on Apple PodcastsFollow FreightWaves LIVE on SpotifyMore FreightWaves PodcastsJoin The Autonomous & Electric Vehicle Summit
Kodiak Robotics resisted the temptation of going public during the heady days of SPACs, preferring to raise money from venture capital. Now, as its list of partnerships and technology breakthroughs grows, Kodiak is gaining a reputation as a leader in high-level autonomy shedding the late-comer label. Join Don Burnette, Co-Founder & CEO of Kodiak Robotics, and Alan Adler, Detroit Bureau Chief at FreightWaves, in this fireside chat.Love's Truck Care & Speedco is the nation's largest preventative maintenance network over the road. With more than 1,500 maintenance bays offering light mechanical services and DOT inspections, Love's and Speedco are invested in getting drivers back on the road quickly and safely. Visit www.loves.com to learn more about our services.Follow FreightWaves LIVE on Apple PodcastsFollow FreightWaves LIVE on SpotifyMore FreightWaves PodcastsJoin The Autonomous & Electric Vehicle Summit
The rise and fall of special purpose acquisition companies has been swift and brutal for some of the young companies enticed to go public before they were ready for the harsh realities of life under Wall Street scrutiny. Understanding what happened with SPACs means understand SPACs from the beginning. Vince Cubbage of Tortoise Acquisition, which has sponsored two SPACs and is lining up a third, brings his perspectives as the Autonomous and Electric Vehicles Summit keynote speaker.Follow FreightWaves LIVE on Apple PodcastsFollow FreightWaves LIVE on SpotifyMore FreightWaves PodcastsJoin The Autonomous & Electric Vehicle Summit
The rise and fall of special purpose acquisition companies has been swift and brutal for some of the young companies enticed to go public before they were ready for the harsh realities of life under Wall Street scrutiny. Understanding what happened with SPACs means understand SPACs from the beginning. Vince Cubbage of Tortoise Acquisition, which has sponsored two SPACs and is lining up a third, brings his perspectives as the Autonomous and Electric Vehicles Summit keynote speaker.Love's Truck Care & Speedco is the nation's largest preventative maintenance network over the road. With more than 1,500 maintenance bays offering light mechanical services and DOT inspections, Love's and Speedco are invested in getting drivers back on the road quickly and safely. Visit www.loves.com to learn more about our services.Follow FreightWaves LIVE on Apple PodcastsFollow FreightWaves LIVE on SpotifyMore FreightWaves PodcastsJoin The Autonomous & Electric Vehicle Summit
David Rubenstein is back on the show for a second time to discuss his new book, “How To Invest,” where he provides a masterclass on investing featuring conversations with the biggest names in finance such as Sam Zell, Larry Fink, Mike Novogratz, and Marc Andreessen.David is the co-founder and co-Executive Chairman of The Carlyle Group, one of the world's largest and most successful private investment firms with over $217 billion of assets under management.During our conversation, we talk about why he wrote the book, his approach to writing, how he chooses his interview subjects, the qualities that make a good investor, some of his personal experiences in the investing world, what he would invest in today, his best and worst performing investments, and much more.You can order the book at: https://www.amazon.com/How-Invest-David-M-Rubenstein/dp/1982190302SUBSCRIBE TO OUR NEWSLETTER & STAY UPDATED > http://bit.ly/tfh-newsletterFOLLOW TFH ON INSTAGRAM > http://www.instagram.com/thefounderhourFOLLOW TFH ON TWITTER > http://www.twitter.com/thefounderhourINTERESTED IN BECOMING A SPONSOR? EMAIL US > email@example.com
Giuseppe is president at Red Cat Holdings ($RCAT) and founder of Skypersonic, which builds drones that can inspect and survey sites in high-risk, confined, or GPS-denied locations. Skypersonic's product enables remote operators to fly drones indoors 100% remotely and over the internet. Previously, Giuseppe was responsible for the development of projects on behalf of the European Space Agency at Thales Alenia Space, and has been involved in development of space systems used at NASA and the European Space Agency (ESA). He studied Astronautical Engineering at the University “La Sapienza di Roma” and he achieved the Master of Science in Mechanical Engineering (MSME) at Engineering Faculty of Catania. What's the space angle? Skypersonic just recently completed a 15-day set of testing its drone at Mt. Etna, an Italian volcano with Martian-esque terrain. Pilots in Houston flew Skypersonic's drones to demonstrate the feasibility of the technology in a Mars-like environment. In 2021, NASA awarded Skypersonic a five-year contract to provide drone and rover software, hardware, and services/support for the US space agency's simulated Mars mission. 0:00 - Introduction 4:27 - Giuseppe got into space at a very young age. Also, Ryan asks the question we've all been dying to know… Star Trek or Star Wars? 6:34 - The Italian space sector and working at Thales Alenia 11:24 - Starting simple…how'd Giuseppe come up with the name “Skypersonic”? 13:13 - The startup's backstory and the art of the pivot 14:08 - 99% of all drones use GPS to fly – Skypersonic is building for the 1% share, and high-risk, highly complex situations and GPS-denied environments. 18:15 - “the pilot is important” 18:46 - A walkthrough of how drones connect to remote operation centers across the world. “Hopefully I can explain in a simple way, even if it's super complex.” 26:32 - Spillovers from technology developed for space, now being used every day down here on Earth 30:57 - Skypersonic's testing of its drones and remote operations at Mount Etna (an Italian volcano with a Martian-esque environment) 39:00 - Potential hiccups with using electrical propulsion systems on Mars. Also, spoiler alert, you can't pilot helicopters on Mars from Earth 41:31 - Getting acquired by Red Cat Holdings, and what it's like being on the management team of a publicly traded deeptech company 46:56 - Does Giuseppe have any advice for the space SPACs that are trying to tough it out in the public markets right now? 49:51 - Just a normal light question on this Tuesday morning: “Are we alone in the universe?” Giuseppe has worked on space telescopes searching for extraterrestrial planets, so we feel he's qualified to answer this question. 52:04 - A once-in-a-generation renaissance and technological revival for space 53:40 - Giuseppe's favorite off-the-radar Italian city
Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.This week Alex was back with Grace and our new producer to kick off the week. Now that we are through earnings season, things are a little quieter on the forecast front, but that didn't mean that we were short on material:Stocks are down around the world, while crypto prices remain depressed in the last week; NFT volume continues its negative drift.CNBC got FTX revenue numbers! Only through the first quarter of 2022, sadly, meaning that we have a good idea of what the company did through March of this year. That is good, but not great. Why not? Q2 is really the turning point for crypto exchanges, Coinbase data indicates. So we got the stuff that makes FTX look good. We need more.The Socar IPO was kinda meh, in the end. While we welcome any and all IPOs at this point, hopes may have been for a stronger welcome on the South Korean stock market for the SoftBank-backed company. TechCrunch has more.And from the Quick Hit folder, Tesla is raising the price of its driver-assist system, Amazon is looking to buy more healthcare assets, NSO may reform, and SPACs are kaput.Equity is back Wednesday and Friday this week, as we do not have a live show. Chat soon!Equity drops every Monday at 7 a.m. PDT and Wednesday and Friday at 6 a.m. PDT, so subscribe to us on Apple Podcasts,Overcast,Spotify and all the casts.
Mark Pincus was at the forefront of mobile technology when it was just being born. He is a recovering venture capitalist who co-founded his first company with Sunil Paul in 1995. FreeLoader was at the forefront of giving people the news through push technology, just as the IETF was in the process of ratifying HTTP2. He sold that for $38 million only to watch it get destroyed. But he did invest in a startup that one of the interns founded when he gave Sean Parker $100,000 to help found Napster. Pincus then started Support.com, which went public in 2000. Then Tribe.net, which Cisco acquired. As a former user, it was fun while it lasted. Along the way, Pincus teamed up with Reid Hoffman, former PayPal executive and founder of LinkedIn and bought the Six Degrees patent that basically covered all social networking. Along the way, he invested in Friendster, Buddy Media, Brightmail, JD.com, Facebook, Snapchat, and Twitter. Investing in all those social media properties gave him a pretty good insight into what trends were on the way. Web 2.0 was on the rise and social networks were spreading fast. As they spread, each attempted to become a platform by opening APIs for third-party developers. This led to an opening to create a new company that could build software that sat on top of these social media companies. Meanwhile, the gaming industry was in a transition from desktop and console games to hyper-casual games that are played on mobile devices. So Pincus recruited conspirators to start yet another company and with Michael Luxton, Andrew Trader, Eric Schiermeyer, Steve Schoettler, and Justin Waldron, Zinga was born in 2007. Actually Zinga is the dog. The company Zynga was born in 2007. Facebook was only three years old at the time, but was already at 14 million users to start 2007. That's when they opened up APIs for integration with third party products through FBML, or Facebook Markup Language. They would have 100 million within a year. Given his track record selling companies and picking winners, Zynga easily raised $29 million to start what amounts to a social game studio. They make games that people access through social networks. Luxton, Schiermeyer, and Waldron created the first game, Zynga Poker in 2007. It was a simple enough Texas hold 'em poker game but rose to include tens of millions of players at its height, raking in millions in revenue. They'd proven the thesis. Social networks, especially Facebook, were growing.. The iPhone came out in 2007. That only hardened their resolve. They sold poker chips in 2008. Then came FarmVille. FarmVille was launched in 2009 and an instant hit. The game went viral and had a million daily users in a week. It was originally written in flash and later ported to iPhones and other mobile platforms. It's now been installed over 700 million times and ran until 2020, when Flash support was dropped by Facebook. FarmVille was free-to-play and simple. It had elements of a 4x game like Civilization, but was co-op, meaning players didn't exterminate one another but instead earned points and thus rankings. In fact, players could help speed up tasks for one another. Players began with a farm - an empty plot of land. They earned experience points by doing routine tasks. Things like growing crops, upgrading items, plowing more and more land. Players took their crops to the market and sold them for coins. Coins could also be bought. If a player didn't harvest their crops when they were mature, the crops would die. Thus, they had players coming back again and again. Push notifications helped remind people about the state of their farm. Or the news in FreeLoader-speak. Some players became what we called dolphins, or players that spent about what they would on a usual game. Maybe $10 to $30. Others spent thousands, which we referred to as whales. They became the top game on Facebook and the top earner. They launched sequels as well, with FarmVille 2 and FarmVille 3. They bought Challenge Games in 2010, which was founded by Andrew Busy to develop casual games a well. They bought 14 more companies. They grew to 750 employees. They opened offices in Bangalore, India and Ireland. They experimented with other platforms, like Microsoft's MSN gaming environment and Google TV. They released CastleVille. And they went public towards the end of 2011. It was a whirlwind ride, and just really getting started. They released cute FarmVille toys. They also released Project Z, Mafia Wars, Hanging with Friends, Adventure World, and Hidden Chronicles. And along the way they became a considerable advertising customer for Facebook, with ads showing up for Mafia Wars and Project Z constantly. Not only that, but their ads flooded other mobile ad networks, as The Sims Social and other games caught on and stole eyeballs. And players were rewarded for spamming the walls of other players, which helped to increase the viral nature of the early Facebook games. Pincus and the team built a successful, vibrant company. They brought in Jeff Karp and launched Pioneer Trail. Then another smash hit, Words with Friends. They bought Newtoy for $53.3 million to get it, after Paul and David Bettner who wrote a game called Chess with Friends a few years earlier. But revenues dropped as the Facebook ride they'd been on began to transition from people gaming in a web browser to mobile devices. All this growth and the company was ready for the next phase. In 2013, Zynga hired Donald Mattrick to be the CEO and Pincus moved to the role of Chief Product Officer. The brought in Alex Garden, the General Manager for Xbox Music , Video, and Reading, who had founded the Homeward creator Relic Entertainment back in the 1990s. The new management didn't fix the decline. The old games continued to lose market share and Pincus came back to run the company as CEO and cut the staff by 18 percent. In 2015 they brought in Frank Gibeau to the board and by 2016 moved him to CEO of the company. One challenge with the move to mobile was who got the processing payments. Microtransactions had gone through Facebook for years. They moved to Stripe in 2020. They acquired Gram Games, to get Merge Dragons! They bought Small Giant Games to get Empires & Puzzles. They bought Peak Games to get Toon Blast and Toy Blast. They picked up Rollic to get a boatload of actions and puzzle games. They bought Golf Rival by acquiring StarLark. And as of the time of this writing they have nearly 200 million players actively logging into their games. There are a few things to take from the story of Zynga. One is that a free game doesn't put $2.8 billion in revenues on the board, which is what they made in 2021. Advertising amounts for just north of a half billion, but the rest comes from in app purchases. The next is that the transition from owner-operators is hard. Pincus and the founding team had a great vision. They executed and were rewarded by taking the company to a gangbuster IPO. The market changed and it took a couple of pivots to get there. That led to a couple of management shakeups and a transition to more of a portfolio mindset with the fleet of games they own. Another lesson is that larger development organizations don't necessarily get more done. That's why Zynga has had to acquire companies to get hits since around the time that they bought Words with Friends. Finally, when a company goes public the team gets distracted. Not only is going through an IPO expensive and the ensuing financial reporting requirements a hassle to deal with, but it's distracting. Employees look at stock prices during the day. Higher ranking employees have to hire a team of accountants to shuffle their money around in order to take advantage of tax loopholes. Growth leads to political infighting and power grabbing. There are also regulatory requirements with how we manage our code and technology that slow down innovation. But it all makes us better run and a safer partner eventually. All companies go through this. Those who navigate towards a steady state fastest have the best chance of surviving one more lesson: when the first movers prove a monetization thesis the ocean will get red fast. Zynga became the top mobile development company again after weathering the storm and making a few solid acquisitions. But as Bill Gates pointed out in the 1980s, gaming is a fickle business. So Zynga agreed to be acquired for $12.7 billion in 2022 by Take-Two Interactive, who now owns the Civilization, Grand Theft Auto, Borderlands, WWE, Red Dead, Max Payne, NBA 2K, PGA 2K, Bioshock, Duke Nukem, Rainbow Six: Rogue Spear, Battleship, Centipede, and the list goes on and on. They've been running a portfolio for a long time. Pincus took away nearly $200 million in the deal and about $350 million in Take-Two equity. Ads and loot boxes can be big business. Meanwhile, Pincus and Hoffman from LinkedIn work well together, apparently. They built Reinvent Capital, an investment firm that shows that venture capital has quite a high recidivism rate. They had a number of successful investments and SPACs. Zynga was much more. They exploited Facebook to shoot up to hundreds of millions in revenue. That was revenue Facebook then decided they should have a piece of in 2011, which cut those Zynga revenues in half over time. This is an important lesson any time a huge percentage of revenue is dependent on another party who can change the game (no pun intended) at any time. Diversify.
Miguel Armaza sits down with Amanda Abrams, CEO of Fintech Masala, a fintech-focused investment platform and one of the pioneers and most active firms behind several fintech SPACs since 2015. Some of their SPAC transactions, include CardConnect, Payoneer, Paya, and Perella Weinberg Partners.If filing 12 SPACs gets you the title of SPAC King, then Amanda and Fintech Masala Co-Founder, Betsy Cohen, are definitely the SPAC Queens with a total of 11 SPACs filed. The SPAC process and why Amanda suggests CEOs should still consider this route.The SPAC Boom of 2020/2021. What drove the mania some of the mistakes?Key differences between a good SPAC process vs a bad one. How do we know if a company is ready to go public?Lessons from working with dozens of CEOs and boards, the future of fintech… and a lot more!Want more podcast episodes? Join me and follow Fintech Leaders today on Apple, Spotify, or your favorite podcast app for weekly conversations with today's global leaders that will dominate the 21st century in fintech, business, and beyond.Do you prefer a written summary, instead? Check out the Fintech Leaders newsletter and join 37,000+ readers and listeners around the world!Miguel Armaza is Co-Founder & Managing General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.Miguel on LinkedIn: https://bit.ly/3nKha4ZMiguel on Twitter: https://bit.ly/2Jb5oBcFintech Leaders Newsletter: bit.ly/3jWIpqp
Visit our quarterly presenting sponsor: www.CalgaryAgBusiness.com Builders VC: https://www.builders.vc FoA 169: Investing in Farmland with Carter Malloy of AcreTrader https://player.captivate.fm/episode/2d02dd15-9faa-469b-8b5d-5b99233a3a53 FoA 188: Fintech Meets Agtech to Invest in Farmland https://player.captivate.fm/episode/44a98802-07c3-4295-87c0-e0965881e5b2 Joining us on today's episode is Mark Blackwell of Builders VC. Mark is actually based in Calgary, but Builders is a Silicon Valley - based venture fund that focuses on modernizing antiquated industries. So they focus in not only agriculture, but also healthcare, industrials, real estate and construction. They have a portfolio of over 60 companies, investing from seed to series a. The team has a long history of investing in agtech before they founded Builders when they invested as part of Kosla Ventures in companies such as Granular and the Climate Corp. Mark and I talk a lot about the current state of venture capital, and what areas of agtech he's most excited to invest in companies with bold visions and strategic plans. I'll warn you, this episode gets a little into the weeds of venture capital. I'm by no means any sort of an expert on this, but if you're unfamiliar, here's a quick and very basic primer: Venture capitalists start and manage funds to invest in startup companies. They are backed by investors, called limited partners or LPs that give them money to place these bets. When VCs have money from their investors that they have not yet deployed to startups, they call that money dry powder. VCs do take a management fee from those investments, but the real money is made when a company exits. In other words it is sold or goes public. That is why we'll talk about M&A activity which is mergers and acquisitions. When companies in their portfolio exits, that is when the VC can return the fund, or provide returns to their investors and themselves. We also reference SPACs at one point in this conversation, which could be a whole other podcast, but just know that stands for special purpose acquisition company and it is a vehicle that allows companies to go public that was super popular a year ago, but has fallen out of favor based on a number of factors I won't get into here. Ok hopefully that provides good context for this insightful conversation with Mark Blackwell. Mark is a general partner and lead of the Canadian Office at Builders. Previously, he was a product manager at SolarWinds which he joined when they acquired GNS3 Technologies where Mark had been the COO. He also had a background in venture capital and investment banking before that.
Apple has settled with NO WRONGDOING in its keyboard lawsuit, and some of us are looking forward to purchasing one (1) song on Apple Music with our newfound wealth. Then, some gaming culture chat: Discord is coming to Xbox, and FaZe clan is coming to SPACs! What great timing!
This week, Dan welcomes a guest who he describes as "my style of investor"... Stansberry Venture Value editor Bryan Beach. In his newsletter, Bryan hunts for gems in the beaten-down, hated microcap sector of the market. And no one does it better than Bryan... Thanks to years of creating and auditing financial reports for the "Big Four" and software companies, he has honed his talent for uncovering opportunities within the dense terrain of Securities and Exchange Commission ("SEC") filings. Dan and Bryan delve into a conversation about special purpose acquisition companies ("SPACs") – a topic Bryan has been covering well before the 2021 bubble popped. And he has dug deep into the "SPAC scrap heap" to uncover a few diamonds in the rough, naming a few businesses on his radar, too. Bryan also discusses another overvalued group of stocks that's a favorite of his – Software as a Service. Then, he scrutinizes the housing market, and Dan shares his "macro" point of view on the matter. Finally, Bryan urges listeners to keep an open mind when investing... and to not readily dismiss the speculative side of the market... "I encourage our readers to be thinking about all parts of their port. There's a time to go deep in microcaps and there's a time to avoid them altogether. And everyone's situation is a little bit different. That's what I think is important... Pull up and look down at your portfolio. Get out of the weeds and look down at your whole portfolio... There's some part of the market that you haven't thought about in a while that you probably should think about again."