Tag: Finance

Keynote Interview: Watch Melinda Gates at The Global Boardroom

The Global Boardroom returns for its third edition to examine the most impactful strategies for a world transformed by crisis. Attend carefully curated, in-depth discussions with leading policy-makers, CEOs, and investors from across the world. In collaboration with TNW, the Financial Times brings you curated, in-depth discussions, like this interview with Melinda Gates,  Co-chair and […]

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This TikToker’s ‘SCAM’ Cryptocurrency Took Off and He Can’t Believe It

As cryptocurrencies have grown in popularity and valuation, both parodies and obvious schemes have cropped up with occasionally little distinction. But nothing up until now has prepared you for SCAM, or Simple Cool Automatic Money, the wild creation of a TikToker who goes by Dre and is very open about having no clue what he’s […]

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Are Fintechs Going Predatory?

Partnerships between traditional banks and fintechs are common, and can help both sides accomplish positive things that they couldn’t do on their own. For example, a traditional bank might partner with a fintech company in order to offer its customers digital wallets. There’s nothing intrinsically wrong with such deals, but 21st-century technology makes it all […]

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Blockchain startup Digital Asset nabs $120M to knock down data silos

Join Transform 2021 this July 12-16. Register for the AI event of the year. Blockchain-based app development platform Digital Asset today announced that it raised $120 million in series D funding led by 7Ridge and Eldridge. The company plans to use the funding to expand its team and product portfolio with a protocol that enables […]

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The Weird, Extremely German Origins of the Wirecard Scandal

After the Second World War German national pride was in tatters. It improved through the power of German industry and the mighty Deutschmark. That’s because the Standort has become a stand-in for a national pride that dare not speak its name. The phrase “Made in Germany” was first established in 1887 in the United Kingdom […]

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One Fintech Superapp to Rule Them All

This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. Recently it has become clear that several of the largest US fintech companies are striving to build the same Next New Thing, some more overtly than others. That “thing” is the superapp, which thrives in China but has to date eluded the US and European markets. What, […]

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Don’t Change, Wall Street Journal

The Wall Street Journal is, financially speaking, quietly one of the most successful newspapers in the country. But you don’t hear about the Journal’s success all that often. The media industry narrative has centered around the revitalization of The New York Times and The Washington Post, two papers that had previously struggled to adapt to […]

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Black Woman Arrested After Charles Schwab Deposited $1.2 Million in Her Account and She Refused to Give It Back

Photo: Darren McCollester (Getty Images) Quavo took the Bentley back. Don’t act like you didn’t call him petty when you learned that after Saweetie broke up with one-third of the Migos and his petty-ass took the Bentley back from his then-boo. Advertisement Well, keep that same energy. Charles Schwab & Co. reportedly deposited some $1.2 […]

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Why Insurtech Firm Root Tanked After IPOing

This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. The very first issue of FIN, October 18, 2020, featured an item about the imminent IPO of the insurtech star Root. The excitement around insurtech companies had been ratcheting up since Lemonade’s July IPO. FIN noted that Root has certainly attracted a lot of venture capital and […]

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Why a US-Backed Bitcoin ETF Feels Inevitable

This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. March 2021 has been the month when a US-sanctioned exchange traded fund (ETF) focused on Bitcoin and/or other cryptocurrencies turned the corner from prohibited to inevitable. This week, a division of Fidelity filed an S-1 to launch an ETF to track the performance of Bitcoin. Earlier in the […]

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Auditoria raises $15.5M to expand AI platform automating repetitive accounting tasks

Join Transform 2021 for the most important themes in enterprise AI & Data. Learn more. Auditoria, a startup offering AI-driven automation products for corporate finance teams, today announced that it raised $15.5 million in series A funding. Cofounder and CEO Rohit Gupta says that the proceeds will shore up Auditoria’s investments in data science and […]

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The Would-Be Robinhood Killer You’ve Never Heard Of

This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. The financial world has become so blasé about SPACs that they barely get reported anymore, even when they involve multibillion-dollar companies in one of the hottest and most contentious spaces: free digital trading of stocks and cryptocurrencies. This week the Israeli company eToro announced that it will […]

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Working at Goldman Sachs Suuuucks, Leaked Internal Survey Shows

Screenshot: Goldman Sachs Survey On the Clock is Motherboard’s reporting on the organized labor movement, gig work, automation, and the future of work. A slide presentation prepared by a group of junior Goldman Sachs analysts reporting on a survey about working conditions at the firm was leaked this week and circulated online, giving us all a […]

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Awaiting Stripe’s Massive IPO

This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. Exactly five years ago—April 2016—as the editor-in-chief of Inc. magazine, I put Stripe founders (left to right) Patrick and John Collison on the cover. They were 27 and 25 years of age, respectively. As we explained at the time, Stripe had created a ridiculously simple offering: seven lines of code […]

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La, La, La, La, Kanye West Got His Money Right—Now Worth $6.6 Billion, Reportedly Richest Black Man in the U.S.

Kanye West speaks on stage at the “Kanye West and Steven Smith in Conversation with Mark Wilson” on November 07, 2019.Photo: Brad Barket/Getty Images for Fast Company (Getty Images) Remember when Kanye West first burst into the mainstream scene and referred to himself as “Kanye Cheddar?” Well, now he has a lot of damn cheese. […]

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President Biden’s Refusal to Eliminate Student Debt Is Out of Touch With Black Voters Who Helped Get Him Elected

Photo: Eric Broder Van Dyke (Shutterstock) Last month, President Biden declared that he would not support student debt forgiveness and took a huge step backwards in fulfilling the pledges he made to Black voters and Black women during his campaign. When asked about Senator Schumer, Senator Warren and other lawmakers’ proposal to wipe out $50,000 […]

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A Dialogue on Cryptocurrency

I was fortunate to land a lengthy interview with Jalak Jobanputra, the founder and managing partner of FuturePerfect Venture. We spoke during a roundtable discussion hosted by Techonomy, in front of a live digital audience. Here is an edited version of our exchange: James Ledbetter: Let’s start off by talking about the market because I think that’s […]

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How to Invest Your 401(k) in Green Funds That Don’t Screw Over Your Kids

401k text written on wooden block with stacked coins (Stock Photo, Getty Images) When it comes to investing, about half of Americans have a retirement account, and not much else.  Those retirement accounts might be individual investment accounts (IRAs), employer-sponsored plans like 401(k)s, or pensions. But let’s be real—outside of government jobs, pensions are mostly […]

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Inside the Coinbase Direct Listing

This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. There are very few people not employed by Coinbase who know more about the company than Jeff John Roberts, executive editor at Decrypt, and author of the recently published history of Coinbase The Kings of Crypto. So even before Coinbase’s hugely anticipated S-1 filing for a direct Nasdaq listing became […]

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The FinTech Industry Wants to Give Desperate Workers an Advance on Their Next Paycheck. It’s a Trap.

Consumer advocates are very alarmed by the underlying power imbalance between wage-access providers and the low-income workers they serve, exposing once again Silicon Valley’s penchant for dressing up in utopian visions the dystopian brutality of its desire to make money. “If you think about someone working at Walmart, Target, someone like that,” says Keith Corbett, […]

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The Payment Revolution Continues to Roar

This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. There is a received wisdom about how, and at what stage, companies grow. The kind of neck-snapping, five-figure annual growth I used to oversee with the Inc. 5000 is almost exclusively the province of very new, and privately held, companies. Once a company goes public and reaches a […]

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Enterprises customize Clinc’s conversational AI to connect with their customers

Conversational AI platform company Clinc has experienced significant product pivots since it was founded by a group of University of Michigan computer scientists in 2015. It has also undergone leadership changes and investigations into its former CEO’s alleged pattern of sexual harassment. Now the company is carving out a niche within the financial services market, where […]

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Boeing’s Disgraced Ex-CEO Returns to the Aerospace Industry—Backed by $240 Million

To their critics, SPACs are inherently suspect—a shadowy, speculative instrument designed to bypass the due diligence ostensibly built into the IPO process. Using money raised from venture capitalists, private equity, hedge funds, or other investors, a SPAC is essentially a shell company formed to acquire other companies and take them public. The reporting requirements are […]

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‘I Will Not Make That Happen’: Biden Says No to $50,000 Student Debt Forgiveness

Photo: Saul Loeb (Getty Images) Get ready to lower your expectations if you’d been hoping that President Biden would heed the call of some Democrats to cancel student debt up to $50,000 per borrower. The president outright rejected that idea during a town hall hosted by CNN in Milwaukee on Tuesday. Advertisement After a member […]

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Will Fintech End Racist Lending?

This piece originally appeared in FIN, James Ledbetter’s fintech newsletter, on October 25, 2020. The history of racism in the banking and lending industries is long, deep, and far from behind us. Despite decades of reform and regulation, racial discrimination in the financial sector remains a stubborn stain on modern American life. In December of 2019, the New […]

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Buy Now, Pay…Never?

Year revenue column diagram made of coins and Santa hat This piece originally appeared in FIN, James Ledbetter’s fintech newsletter. A dog is for life, not just for Christmas. If you are from the United Kingdom, that pithy adage needs no explanation. For everyone else: in 1978, the charity then known as the National Canine Defence […]

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