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☆ The city whose 'doom loop' just might be worse than San Francisco's
▼ + stars: | 2024-04-13 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

An office building in St. Louis sold for $3.6 million after selling for $205 million 18 years prior. Downtown St. Louis is filled with unoccupied buildings and an unwillingness to visit them. The steep drop in the tower's value is just one sign that St. Louis' central business district is struggling, reports say. Indeed, St. Louis' downtown resembles a ghost town with a number of boarded-up buildings, according to The Wall Street Journal's Konrad Putzier. AdvertisementThe problem with Midwestern cities, like St. Louis, is that there's not much attracting people to the center of the city — and that applies to commuters, tourists, and residents.

Persons: Louis, —, Konrad Putzier, Glenn MacDonald, Business Insider's Eliza Relman, Michael Hicks, BI's Relman, Relman, Tracy Hadden Loh Organizations: Service, T, Goldman Group, News, Washington University, Olin Business School, Business, University of Toronto, Midwest ., Ball State University, Midwest, Brookings Institution Locations: St, Downtown St, Francisco's, North America, Midwest, Midwest . San Francisco, Indiana, —, San Francisco and New York

☆ The 10 most affordable metro areas for America's middle class—3 are in Ohio
▼ + stars: | 2024-04-10 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Creditnews Research, an independent research house, studied the relationship between income distribution and housing costs across the 100 most populous metropolitan areas in America to determine where middle class families can still qualify for an average home. The report used income tiers based on Pew Research's household income percentile ranges for economic classes:Lower-middle class: $30,001-$58,020Middle class: $58,021-$94,000Upper-middle class: $94,001-$153,000Overall, Creditnews Research found that the Midwest and parts of the South are the most affordable options for middle-class households right now, while ultra-desirable coastal cities like San Francisco and New York City are not an option — even for affluent buyers. The state of Ohio stands out as a place where America's middle class can find an affordable way of life. Three cities in the Buckeye State made Creditnews Research's top 10 ranking thanks to homeowner incentives like grants and tax credits.

Organizations: Research, Pew, Creditnews, San Francisco and New, Buckeye State Locations: America, San Francisco and, San Francisco and New York City, Ohio

☆ The $40 martini is in, and it's giving loud luxury
▼ + stars: | 2024-03-01 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

The maximalist martinis encapsulate the "loud luxury." Loud luxury, in contrast to quiet luxury, is about spending a lot and owning it. "Call it loud luxury," she wrote. Loud luxury, in contrast, isn't afraid to show off. It's not necessarily the logo that makes something loud luxury, but anything that stands out and signals "this is expensive."

Persons: —, Boon, Jaya Saxena, Punch —, Kendall Roy, HBO's, Lauren Saria, Punch, Martini Organizations: Service, Ilis Locations: New York, San Francisco, San Francisco and New York, Manhattan, there's, Ilis, Miami

☆ Voyager Ventures backs climate tech startups. It just raised its second $100 million fund.
▼ + stars: | 2024-02-07 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewClimate tech VC firm Voyager Ventures has raised another fund hot on the heels of its first, bringing its assets under management to $200 million. The new fund can invest alongside or after Voyager Fund I and independently where it has developed competitive access. AdvertisementThe fund hit final close in May 2023, which was previously undisclosed, just 15 months after closing its first fund. It is also eyeing the second edition of the earlier-stage Voyager Fund, which Peterson and Sclarsic will start raising this year. Voyager Ventures currently has 19 portfolio companies across the two funds.

Persons: —, Sierra Peterson, Sarah Sclarsic, Peterson, Sclarsic Organizations: Service, Voyager Ventures, Business, Voyager, Northwestern University, Novo Holdings Locations: San Francisco and New York, North America, Europe

☆ Has the LA scene fizzled? SoCal has fallen further behind the Bay Area, NYC and Boston for startup funding: 'People deep in AI are just not in LA'
▼ + stars: | 2024-01-23 | by ( Ben Bergman | ) www.businessinsider.com time to read: +8 min

But last year, the LA tech scene stalled, according to Carta data. Startup funding plummeted everywhere, but nowhere experienced a steeper decline than LA, where funding declined 65% from 2022. CartaLA's startup funding dropped 65% last year, a steeper decline than the Bay Area, New York or Boston. "They're very deep AI companies, but they're being applied to a vertical, which is one of the strengths of LA," Ingersoll said. Bird goes bust and Snap snaps backThere was more bad news for LA's startup scene in 2023 than just the dismal funding numbers.

Persons: Ethan Aldrich, Aldrich, there's, Andreessen Horowitz, a16z, Katia Ameri, Ameri, VCs, Nikita Bier, Bier, Mark Suster, Suster, LA's, we're, Palmer Luckey, Minnie Ingersoll, Ingersoll, Bird, Zillow, Spencer Rascoff, Evan Spiegel ERIC PIERMONT, Ishan Singh, Singh Organizations: Stanford, Business, Lightspeed Venture Partners, Coatue Management, LA Tech, LA, Carta, Honest Company, New, Boston, Microsoft, Clark, SpaceX Locations: Santa Monica, Southern California, LA, Santa, Hayes, San Francisco, Los Angeles, San Francisco and New York, New York, Boston, Carta, San Diego, Seattle, Hawthorne , CA, Costa, Bay

☆ Get ready for 'AI factories'
▼ + stars: | 2023-10-18 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Nvidia is expanding its partnership with Foxconn to build data centers called "AI factories." The aim is for the AI factories to enable development of robots, self-driving cars, and generative AI services. AdvertisementAdvertisementCountries like the US are seeing a factory boom — and so-called "AI factories" could follow. "And the data centers that produce it are AI factories." The announcement of the AI factories comes as major technology companies like Microsoft invest billions into AI-efforts like building new data centers in an effort to cash in on the generative AI hype.

Persons: Foxconn, —, Jensen Huang, Huang, Foxconn didn't, Jonathan Gray, Blackstone Organizations: Nvidia, Service, Foxconn, Hon, Reuters, Microsoft, Research, University of Massachusetts Locations: Taipei, San Francisco and New York, Sweden, Netherlands

☆ Leaked Microsoft pay guidelines reveal salary, hiring bonus, and stock award ranges by level
▼ + stars: | 2023-10-16 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +5 min

Leaked Microsoft pay guidelines viewed by Insider provide insight into how much the company pays new hires by level, with ranges for base pay, hiring bonuses, and annual stock awards. Pay at Microsoft varies by field and location, so a company-wide standard for pay per level across all units doesn't exist. The highest pay package in the guidelines viewed by Insider was $361,500 in salary, $1.2 million as a hiring bonus, and about $1 million in annual stock awards. The lowest was a $42,500 salary, with no hiring bonus and no guaranteed stock award. Microsoft's pay guidelines for job offers:Level 70:Base pay: $231,700 to $361,500On-hire stock awards: $310,000 default to $1.2 million with approvalAnnual stock award range: $0 to $945,000Level 69:Base pay: $202,400 to $316,000On-hire stock awards: $235,000 default to $1.1 million with approvalAnnual stock award range: $0 to $750,000Level 68:Base pay: $186,200 to $291,000On-hire stock awards: $177,000 default to $1 million with approvalAnnual stock award range: $0 to $490,600Level 67:Base pay: $171,600 to $258,200On-hire stock awards: $168,000 default to $700,000 with approvalAnnual stock award range: $0 to $336,000Level 66:Base pay: $157,300 to $236,300On-hire stock awards: $75,000 default to $600,000 with approvalAnnual stock award range: $0 to $160,000Level 65:Base pay: $144,600 to $216,600On-hire stock awards: $36,000 default to $300,000 with approvalAnnual stock award range: $0 to $90,000Level 64:Base pay: $125,000 to $187,700On-hire stock awards: $24,000 default to $250,000 with approvalAnnual stock award range: $0 to $60,000Level 63:Base pay: $113,900 to $171,500On-hire stock awards: $17,000 default to $200,000 with approvalAnnual stock award range: $0 to $44,000Level 62:Base pay: $103,700 to $156,400On-hire stock awards: $11,000 default to $125,000 with approvalAnnual stock award range: $0 to $32,000Level 61:Base pay: $92,600 to $138,100On-hire stock awards: $6,500 default to $75,000 with approvalAnnual stock award range: $0 to $24,000Level 60:Base pay: $83,500 to $125,000On-hire stock awards: $4,500 default to $50,000 with approvalAnnual stock award range: $0 to $16,000Level 59:Base pay: $74,400 to $110,800On-hire stock awards: $3,000 default to $30,000 with approvalAnnual stock award range: $0 to $12,000Level 58:Base pay: $70,300 to $92,600On-hire stock awards: $2,500 default to $20,000 with approvalAnnual stock award range: "By career stage"Level 57:Base pay: $63,800 to $83,000On-hire stock awards: $1,500 default to $10,000 with approvalAnnual stock award range: "By career stage"Level 56:Base pay: $60,700 to $77,900On-hire stock awards: $1,500 default to $10,000 with approvalAnnual stock award range: "By career stage"Level 55:Base pay: $55,200 to $71,300On-hire stock awards: N/AAnnual stock award range: "By career stage"Level 54:Base pay: $51,600 to $67,000On-hire stock awards: N/AAnnual stock award range: "By career stage"Level 53:Base pay: $46,600 to $59,700On-hire stock awards: N/AAnnual stock award range: "By career stage"Level 52:Base pay: $42,500 to $54,600On-hire stock awards: N/AAnnual stock award range: "By career stage"Are you a Microsoft employee or do you have insight to share?

Organizations: Microsoft, . Locations: San Francisco and New York

☆ This Southern city is the No. 1 place to start your own business
▼ + stars: | 2023-09-24 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

The home of mega-corporations like Coca Cola and Delta Airlines is also the best place to start your own business, according to new LinkedIn data. 1 U.S. metro area with the fastest year-over-year growth, 92%, in people founding their own companies, per the job search site. 1 place for young professionals to start a career, according to a report from Wallethub, based on metrics like availability of jobs, average starting salary, unemployment rate, median annual income, housing affordability and family-friendliness. Elsewhere in the country, the only representative for Silicon Valley — San Francisco — comes in at No. "Though the San Francisco Bay Areas remains one of the world's leading places for tech startups, it's possible or perhaps likely that smaller 'Main Street' businesses aren't opening at a nation-leading pace," Anders says.

Persons: Austin, George Anders, LinkedIn's, Anders, San Francisco —, that's, Donna Kelley Organizations: Coca, Delta Airlines, Fox, Seattle, metros, LinkedIn, Atlanta, Atlanta Austin , Texas Seattle San, Atlanta Austin , Texas Seattle San Francisco Chicago Boston, Fort Lauderdale, Fort Lauderdale New York City Los Angeles Denver, San, Global Entrepreneurship Monitor, The Washington Post . Entrepreneurship, Babson College, Washington Post, CNBC Locations: Coca Cola, Atlanta, U.S, Wallethub, pricey, San Francisco and New York, Atlanta Austin , Texas, Atlanta Austin , Texas Seattle San Francisco, Atlanta Austin , Texas Seattle San Francisco Chicago Boston Miami, Fort Lauderdale New York, Fort Lauderdale New York City Los Angeles Denver Atlanta, Austin, Silicon, San Francisco, San Francisco Bay, New York City, Los Angeles, Chicago, Miami, United States, Montana

MIDDLETOWN, N.J. (AP) — Governments, organizations and businesses have set ambitious goals to combat climate change. Shawn LaTourette, New Jersey's environmental protection commissioner, hesitates to use the word “mandate” in describing the state's plans. Many of the world's countries signed the Paris climate accords, obligating them to reduce greenhouse gas emissions to certain levels. Anjuli Ramos, New Jersey director of the Sierra Club, agreed that meeting climate goals requires urgent action. A document released Tuesday said that by 2050, at least 90% of the state's residential and commercial buildings must be electrified to meet New Jersey's clean energy and climate goals.

Persons: Shawn LaTourette, ”, —, John Burzichelli, ” Ray Cantor, Rishi Sunak, Anjuli Ramos, “ It's, “, ‘ We’re, Wayne Parry Organizations: —, Democrat, New, New Jersey Business, Industry Association, British, Sierra Club, San Francisco and New, Twitter Locations: MIDDLETOWN, N.J, New Jersey, Shawn LaTourette ,, Jersey, California, Paris, China, India, U.S, Vermont, Rhode Island , Massachusetts , Connecticut, Maine, Michigan, Anjuli Ramos , New Jersey, San Francisco and, San Francisco and New York City, www.twitter.com

☆ Nobody has figured out return to office, but Asia is winning the battle
▼ + stars: | 2023-09-20 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Asian nations are beating out the US in terms of office occupancy and days worked in-person. While office occupancy in the Americas sits at 49%, Asia-Pacific office occupancy is 79%, slightly above Europe at 75%, according to data from real estate services firm Jones Lang LaSalle. TikTok has cracked down on its return-to-office policy through a tool called myRTO, which monitors in-person office attendance. Japan and South Korea have perhaps figured out return to office the best at 0.5 and 0.4 days respectively. Are you a worker in Europe or Asia who has recently returned to the office or never worked from home?

Persons: Jones Lang LaSalle Organizations: Service, San Francisco and New, McKinsey Global Institute, Nikkei, Nikkei Research, Bloomberg, New York Times Locations: South Korea, Wall, Silicon, Asia, Europe, Americas, France, Greece, Germany, United Kingdom, Belgium, Spain, San Francisco and, San Francisco and New York City, Shanghai, Tokyo, China, Japan

Jenny StrasburgJenny Strasburg is a reporter in London, where she writes for The Wall Street Journal about oil and gas, climate, the transition to lower-carbon energy and the people, money and politics setting the global energy agenda, in conflict with it, or left behind because of it. Jenny previously covered global investment banks in the U.S. and Europe, as well as hedge funds, trading and markets, with a focus on in-depth investigations, before pivoting to Covid-19 vaccines and geopolitical responses to the pandemic. Jenny has shared collaborative-reporting honors including the George Polk Award, Gerald Loeb Award, New York Press Club Award, National Headliner Award and Sabew Best in Business Award. She completed the Knight-Bagehot Fellowship in economics and business journalism at Columbia University before writing about private investment funds at Bloomberg News. She joined the Journal in 2008 in New York, before moving to the U.K. in 2013.

Persons: Jenny Strasburg Jenny Strasburg, Jenny, George Polk, Gerald Loeb Organizations: Wall Street, New York Press, Columbia University, Bloomberg News Locations: London, U.S, Europe, New Mexico, West Texas, Corpus Christi, San Francisco and New York, New York

☆ AI is changing how we work and create. It's also damaging our environment.
▼ + stars: | 2023-09-12 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Generative AI is changing how people work, complete assignments, date, and create. But the massive computer systems powering AI consume vast amounts of water and emit tons of carbon. Even with green initiatives by big companies, the scale of the impact is expected to increase. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Insider previously reported AI is like a tidal wave prepared to crash over the economy, eliminating more jobs than we yet realize.

Persons: Bard, ChatGPT, Adrienne Russell Organizations: Service, Information, Society, University of Massachusetts, Center for Journalism, Media, University of Washington Locations: San Francisco and New York

☆ Artificial Intelligence Can Make Companies Greener, but It Also Guzzles Energy
▼ + stars: | 2023-09-11 | by ( Nuha Dolby | ) www.wsj.com time to read: +9 min

Artificial intelligence can help tackle climate change, but to fulfill that promise companies need to find a way to limit AI’s own climate impact. Alphabet’s Google and American Airlines used AI to help planes create fewer vapor trails, which contribute to global warming. For many companies using AI there are both positive and negative effects on their carbon emissions and water use. In the U.S., where there is no central electric grid, training models in one state versus another can have a significant impact on carbon emissions. A Google data center in Oregon.

Persons: Omar Marques, Sasha Luccioni, Bloom, “, Luccioni, Andrew Selsky, Shaolei Ren, Ren, There’s, ” Ren, Amalia Kontesi, Equinix, ”, Christopher Wellise, Jacob Reynolds Equinix, Face’s, ” Luccioni Organizations: Sustainable Business, Google, American Airlines, Zuma, Bloom, Energy, Stanford, Associated Press, University of California Riverside, Research, Microsoft, Workers Locations: San Francisco, Bloom, U.S, California, Virginia, New York, Oregon, San Francisco and New York, Americas, Asia, Spain

☆ Charter planes are descending on the Nevada desert — and the pop-up Black Rock City airport — as tech bros and billionaires gather for Burning Man
▼ + stars: | 2023-09-02 | by ( Grace Kay | Taylor Rains | Jordan Hart | ) www.businessinsider.com time to read: +7 min

Hundreds of flights have landed in Black Rock City for Burning Man — tech bros' favorite party. AdvertisementAdvertisementOver 880 flights descended on Black Rock Desert's pop-up airport this week as the playa opened shop for Burning Man. Jettly CEO Justin Crabbe told Insider in 2019 that the roundtrip flight from New York to Black Rock City cost $55,000. A Burning Man spokesperson did not respond to a request for comment ahead of publication. According to Burner Express' website, other air carriers can fly into Black Rock City, but those who wish to must email and register with the company in advance.

Persons: Elon Musk, Meta's Mark Zuckerberg, Ray Dalio, doesn't, Justin Crabbe, Alex Sgarlata, Sgarlata, Kathleen Bangs Organizations: Black Rock City, Rock City, wasn't, Black, Tahoe, Rock City Airport, Burner, ATC, Oakland, SF, Man, Pilatus, Cessna, Maxar Technologies, REUTERS Locations: Black Rock, Nevada, San Francisco, playa, San Francisco and New York, New York, Southern California, Reno, Rock

☆ LA considers ban on cashless businesses because they exclude low-income people, people of color, and seniors
▼ + stars: | 2023-08-27 | by ( Katie Balevic | ) www.businessinsider.com time to read: +2 min

Los Angeles could join other cities and states in banning cashless businesses. A councilwoman wants to ban the practice, something San Francisco and New York City have already done. It comes as more businesses in the area are opting for cashless payments like credit cards or digital payments through apps. Those options, businesses say, make the purchasing process more efficient and safe, the Los Angeles Times reported. Her motion calls for the City Attorney to draft an ordinance prohibiting cashless businesses.

Persons: Councilwoman Heather Hutt, Kardashian, Hutt, Bill Scott Organizations: Francisco and New, Service, Los Angeles Times, Daily Mail, City Attorney, Times, San Francisco Police Department Locations: Angeles, LA, Francisco and, Francisco and New York City, Wall, Silicon, Los Angeles, City, New York, Philadelphia, San Francisco

☆ The 10 U.S. cities where a $100,000 salary goes the furthest
▼ + stars: | 2023-08-18 | by ( Isabel Engel | In Isabel--Engel | ) www.cnbc.com time to read: +2 min

But now, $100,000 salary only goes so far — and its worth varies from city to city. Across major U.S. cities, $100,000 can be worth as much as $86,444 and as little as $35,791, a recent SmartAsset study finds. The study compares the value of $100,000 across 76 major U.S. cities, accounting for cities' income taxes and cost of living. Cities in the South, from Tennessee to Texas, dominated the top 10 cities where $100,000 goes the furthest. In SF, a $100,000 salary is worth only $36,445; in the Big Apple, it's worth just $35,791.

Persons: Warren Buffett Organizations: Big Apple, El, Oklahoma City, Fort, Council for Community, Economic Locations: U.S, Cities, Tennessee, Texas, Memphis , Tennessee, San Francisco and New York, El Paso , Texas, Oklahoma City , Oklahoma, Christi , Texas, Lubbock , Texas, Houston , Texas, Antonio , Texas, Fort Worth , Texas, Arlington , Texas, Louis , Missouri

☆ Working from home could wipe $800 billion from office values globally
▼ + stars: | 2023-07-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Remote work risks wiping $800 billion from the value of office buildings in major cities worldwide by 2030 as the post-pandemic trend pushes up office vacancy rates and drives down rents, according to a new report. “Urban real estate in superstar cities around the world faces substantial challenges. In a more severe scenario, the value of office space could fall by as much as 42%, the consultancy said. Waning demand for office space has driven down landlords’ asking rents, with US cities suffering the sharpest falls, McKinsey found. In a moderate scenario, demand for office space could be 13% lower by the end of the decade than it was in 2019.

Persons: ” McKinsey, “, ” Organizations: London CNN, McKinsey Global Institute, HSBC, ” McKinsey, McKinsey, Bloomberg’s Technology, San Francisco Mayor London Breed, Westfield Locations: Canary Wharf, Beijing, Houston, London , New York, Paris, Munich, San Francisco, Shanghai, Tokyo, United States, Francisco and New York

☆ The real reasons stores are closing in big cities
▼ + stars: | 2023-05-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts. How policymakers remake their downtowns — with retail as a crucial attraction — will be crucial to cities’ fiscal health and regional economies. People who are being employed in those stores are losing their jobs” because of crime, New York City Mayor Eric Adams, a Democrat, said in February. San Francisco lost around 6% of its retail establishments from 2019 to 2021, according to the think tank’s research. For example, chain-store closures in New York City have correlated to the products most frequently bought online.

☆ Rudin Management's Bill Rudin on the state of commercial real estate
▼ + stars: | 2023-05-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRudin Management's Bill Rudin on the state of commercial real estateBill Rudin, Rudin Management co-chairman and CEO, joins 'Squawk on the Street' to discuss the dichotomy between residential and commercial real estate, the difference in the real estate market between San Francisco and New York, and more.

☆ No office tower is safe from the roiling market — not even a trophy building housing Google and Visa deemed one of the best
▼ + stars: | 2023-05-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Potential problems at One Market Plaza show how far San Francisco's office market may fall. One Market Plaza has long been considered the pinnacle of San Francisco's office market. Autodesk plans to downsize by about 73,000 square feet to 211,000 square feet, a spokeswoman told Insider. Google did not respond to a request for comment on its plans for One Market Plaza. One Market Plaza could indicate how far San Francisco's office woes reachTurbulence at One Market Plaza indicates the extent of the problems facing San Francisco's office market.

☆ Gap to Conduct Layoffs, Cutting 1,800 Corporate Jobs
▼ + stars: | 2023-04-27 | by ( Suzanne Kapner | ) www.wsj.com time to read: 1 min

Gap’s latest round of cuts is expected to result in $300 million in annualized savings. Photo: Mario Tama/Getty ImagesGap Inc. said it is eliminating 1,800 jobs as part of a broad restructuring aimed at making the company more nimble and less bureaucratic. The job cuts are expected to result in $300 million in annualized savings as part of a plan outlined in March, the company said Thursday. The positions being eliminated are mainly at its San Francisco and New York headquarters as well as some senior field roles.

☆ Gap Plans to Lay Off Hundreds of Corporate Workers in Latest Cuts
▼ + stars: | 2023-04-25 | by ( Suzanne Kapner | ) www.wsj.com time to read: 1 min

Gap leaders conducted a review with the goal of stripping out layers of management to speed decision making. Photo: Gabby Jones/Bloomberg NewsGap Inc. is eliminating hundreds of corporate jobs from its global workforce as part of a broad restructuring aimed at making the company more nimble and less bureaucratic, according to people familiar with the situation. The current round of cuts is slated to be larger than in September, when Gap eliminated roughly 500 corporate positions, one of the people said. Those job cuts were mostly at its main offices in San Francisco and New York, and were part of efforts to save about $250 million annually.

☆ Upfront's Mark Suster has become the star of LA's booming startup scene. Not everyone is a fan.
▼ + stars: | 2023-04-18 | by ( Ben Bergman | ) www.businessinsider.com time to read: +29 min

"I have worked with more than 50 VCs and nobody comes close to what it is like to work with Mark Suster," said a founder backed by Suster. "Mark and the Upfront Summit helped put LA tech and investing on the map," said Jeffrey Katzenberg, the cofounder of DreamWorks and WndrCo. Several years ago, a founder whose startup Suster invested in was in a conference room rehearsing their presentation for the Upfront Summit. If you're going to put him on your board, you're letting the fox guard the henhouse. "If you're going to put him on your board, you're letting the fox guard the henhouse."

☆ Why Walmart is closing half its stores in Chicago
▼ + stars: | 2023-04-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Walmart announced Tuesday that next week it will close four poor-performing stores out of the eight it operates in Chicago. Now, it's closing four Chicago stores. Walmart said its remaining four Chicago stores “continue to face the same business difficulties,” but it believes closing these four will give the others the best chance of staying open. There were fears that Walmart and other businesses would leave Chicago, but Walmart pledged to stay and invest in the city. Some retailers have also cited higher levels of theft and other crime in their city stores.

☆ Former Goldman Sachs partners represent the powerful allies and formidable foes the bank has across the Street
▼ + stars: | 2023-03-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In many ways, it's easier to become a brain surgeon than a Goldman partner (doctors, please spare me your hate mail). Unlike other esteemed white-collar groups — the partners at law firm Cravath, Swaine & Moore, for example — turnover is somewhat common within the Goldman partnership. Insider's Carter Johnson and Dakin Campbell took a look at how many partners have left the bank since CEO David Solomon took over in 2018. In many ways, it's demonstrative of the allies the bank has across the Street. Former Goldman partners can be like missionaries for the bank, spreading the good word to anyone who will listen (and paying their fees).

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