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Cashmere has raised $3.6 million in seed funding to automate client acquisition for wealth managers. The Los Angeles-based startup addresses the lack of tech solutions in the wealth management industry. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementCashmere, a tech startup that's automating client acquisition for wealth managers, has raised $3.6 million in a seed funding round. This story is available exclusively to Business Insider subscribers.
Persons: Cashmere, Organizations: Canapi Ventures, Service, Business Locations: Los Angeles
Four bitcoin wallets that led to sex-trafficking fugitive Michael Pratt's capture are seen in the bottom left corner. AdvertisementFrom Michael Pratt's 2019 criminal complaint. Federal prosecutors say Pratt increased traffic by forwarding each victim's video link to her school, work, family, and social connections. Michael Pratt's Swiss ID and Barcelona Mailboxes Etc. AdvertisementThese days, DeBarber runs the Baltimore-based Phoenix AI cybersecurity firm with cofounder Justine Li, a Girls Do Porn victim and plaintiff.
Persons: , Michael James Pratt —, Pratt, Michael Pratt's, Michael Pratt, it's, Charles DeBarber, ike, ake, ould, ong, hough, erving, J ames, rove, ratt, ong K ong, egan, ove, arlene, lew, anni, rooke,, rian H olm,, wiss Organizations: Service, Spanish, Business, Spain's Policia Nacional, Policia Nacional, ust Locations: New Zealander, Madrid, Southern California, Spain, bitcoin, omiting,, ife, ictim
Relevance to this demographic starts with understanding the subtle nuances among these three different groups of fintech consumers. Fintech Pioneers: the big spendersYoung affluent consumers are embracing a variety of payment methods, from cryptocurrency accounts to cross-border payment accounts. The technology revolution in banking lets these "Fintech Pioneers" accrue benefits and manage their finances in an efficient way that doesn't disrupt their lifestyles. They don't want to constantly vet new fintech solutions, or risk encountering technical glitches that can jeopardize their finances. The combination indicates their embrace of age-old exchange methods while still being open to fintech and new payment methods.
Persons: Fintech isn't, it's, aren't, They're Organizations: Fintech, Tech, Visa's, Insider Studios, Visa
Goldman Sachs reiterates Nvidia as buy Goldman said it's sticking with its buy rating on the stock. JPMorgan upgrades StoneCo to overweight from neutral JPMorgan said in its upgrade of the fintech solutions company that it has "appealing" potential for earnings growth. Morgan Stanley reiterates JPMorgan as overweight Morgan Stanley said it's even more bullish on the stock after a meeting with company management. " JPMorgan reiterates Alphabet as overweight JPMorgan said the company is on the "offensive in Gen AI." JPMorgan reiterates Broadcom as overweight The firm said it's sticking with its overweight rating on shares of Broadcom.
Persons: Morgan Stanley, Tesla, Oppenheimer, DA Davidson, Davidson, Goldman Sachs, Goldman, Bernstein, FANG, Redburn, it's bullish, osteogenesis, it's, Robinson, JPMorgan, Disney, Evercore, Moffett, Carvana Organizations: Walmart, Apple, company's, Conference, Nvidia, Energy, Midland shaleco, Endeavor Energy Resources, Airlines, United, Citi, eBay, JPMorgan, BMO, UBS, Mizuho, SEE, P Containers, Deutsche Bank, Deutsche, Google, Jefferies, DFS, Disney, Netflix, CTV, Broadcom Locations: China, Midland, Rocklin
An airport apologized for asking a woman to remove her prosthetic breast while in a security line. AdvertisementDublin Airport has apologized after a passenger was told by security staff to remove her prosthetic breast in public as she passed through airport scanners. After telling airport security that the alert was caused by her prosthesis, she was told to remove it, she told BBC Radio Ulster. Advertisement"I think that's when the woman, the female security guard, maybe realized she hadn't been going down the right road," Ní Leannáin told BBC Radio Ulster. Dublin Airport representatives later apologized after Ní Leannáin complained, she said, but wouldn't commit to saying it wouldn't happen again.
Persons: , Ní Leannáin, they'd, wasn't, hadn't, , Harry Reid Organizations: Dublin Airport, Service, BBC Radio Ulster, Harry Reid International Locations: Donegal, Las Vegas
In late 2022, Harrison joined venture firm General Catalyst, which has backed tech highfliers like Stripe, Snap and Airbnb . This is the first holistic transformation of a health system to a thoughtful combination of digital and in-person care." "It just makes people a little nervous, and it doesn't feel quite aligned with this concept of health care being a human right." To revolutionize how we care for patients, we in health care are doing the same." "This is not like a turnaround, this is not a distressed system," Harrison said.
Persons: Marc Harrison, who's, Astrid Stawiarz, Mark Zuckerberg, Elon Musk, He's, screeds, Harrison, Catalyst, HATCo, Fitch, Ceci Connolly, Connolly, She's, Freddy Krueger, John Bass, Bass, he's, Chris Bischoff, Bischoff, it's, Harrison isn't, Michael Greeley, Greeley, Beaumont, Cliff Deveny, hadn't, Deveny, Ben Sutton, Sutton, Shammas Malik, James Hardy, Hardy, Mayor Malik, Malik, we've, Capital's Greeley, Catalyst's Organizations: Healthy, CNBC, Intermountain Healthcare, Catalyst, Summa Health, Health Assurance Transformation Corporation, Summa Health Medina, Urban Institute, Fitch Ratings, Alliance of Community Health, General Catalyst, HCA Healthcare, University of California Davis Health, Intermountain, Flare Capital Partners, Beaumont Health, Health, Akron, Ideastream Public Media, HATCo Locations: New York City, Silicon Valley, Utah, Ohio, Harrison, PitchBook, U.S, Canada, Israel, Michigan, Beaumont, Akron, Summit County, Akron's
Read previewUkraine's military chief, Valerii Zaluzhnyi, said that the country must prepare for a decline in Western support in its war against Russia and instead win using unmanned vehicles and other technologies. While Russia has the advantage when it comes to brute force, Ukraine has often countered attacks using advanced and, at times, improvized tech solutions. He said that Ukraine must place its military on a new footing if it is to defeat Russia. Advertisement"Perhaps the number one priority here is mastery of an entire arsenal of (relatively) cheap, modern and highly effective, unmanned vehicles and other technological means," he said. He noted that Western support and supplies of key weapons from the West are running low.
Persons: , Valerii Zaluzhnyi, Zaluzhnyi, Volodymyr Zelenskyy Organizations: Service, CNN, Business, Union, Technology, The New York Times Locations: Russia, Ukraine
WHERE DEEPFAKES SHOW UPArtificial intelligence hit the mainstream last year like never before, enabling people to create ever-more realistic deepfakes. Photos You Should See View All 45 ImagesThere's pornography — taking advantage of celebrities like Swift to create fake compromising images. California and Illinois have given victims the right to sue those who create images using their likenesses. Minnesota’s law also targets using deepfakes in politics. He warns that lawmakers should not target the technology that can be used to create deepfakes, as that could shut down innovation with important other uses.
Persons: Taylor Swift, Taylor, Swift, Drake, Joe Biden, Siwei Lyu, Lyu, , , Jake Morabito, ALEC, Todd Helmus, “ It's, Helmus, OpenAI, Jenna Leventoff, Karine Jean, Pierre, WHAT'S, , They're, Marty Jackley, ” Jackley, RAND's Helmus Organizations: deepfakes, University, Buffalo, American Legislative Exchange Council, RAND, guardrails, ACLU, White, Democrats, Republicans, GOP, Facebook, Associated Press Locations: New Hampshire, . Georgia, Hawaii , Texas, Virginia, California, Illinois, Minnesota, New York, Indiana, Missouri, South Dakota
New study predicts that companies will rapidly adopt AI technology over the next decade. The study also found that over half of all jobs driving the US economy will be significantly impacted by AI, with a small percentage of workers losing their jobs and struggling to find new employment. AdvertisementCompanies will quickly adopt AI technology, impacting jobsThe model first examined how quickly businesses will adopt AI. AI will cause an economic boomThe surge in AI adoption by companies signifies a huge impact on the US economy, the study found. AdvertisementThis is supported by a recent McKinsey study showing that AI is more likely to enhance jobs than replace them.
Persons: , OpenAI, What's, Goldman Sachs, Cognizant Adrian Cooper, Cooper, Sam Altman, FABRICE COFFRINI Organizations: Service, Oxford Economics, McKinsey, Oxford
Publicly listed data company LiveRamp's $200 million acquisition of data clean room provider Habu looks set to fire the starting pistol for a more buoyant year of adtech and martech M&A, experts have predicted. He noted that while ad teams aren't using these clean rooms en masse, many have activated them, which bodes well for the Habu acquisition. ID5's technology is deployed by the most online publishers of any identity service, according to Sincera , which measures which adtech companies are used across the industry. LiveRamp, also, could be an acquisition target, Salmon noted, as it builds out new data offerings like the clean rooms it will inherit from Habu. But not everyone is predicting the Habu acquisition will necessarily lead to an influx of M&A around cookieless adtech.
Persons: Conor McKenna, Luma's McKenna, Shailin Dhar, Dhar, Mathieu Roche, who've, InfoSum, Myles Younger, Dan Salmon, Wayne Blodwell, ID5, Roche, " Roche, Salmon, Elgin Thompson, hasn't, Thompson Organizations: Business, LUMA Partners, FIT Holdings, Companies, New, Research, Impact Media, Citizens JMP Securities, Walmart Locations: adtech, LiveRamp, Habu
The creator economy startup Jellysmack laid off staffers in the US and France last month, Business Insider has learned. Jellysmack works with creators on distributing their content across platforms like Facebook and Snapchat to earn additional ad revenue, among other initiatives. We have to realign our resources around areas of the business where Jellysmack is seeing the most success. We encourage everyone to support impacted employees by reaching out to your networks to help our colleagues find their next opportunities. Jellysmack Technologies - Led by Robin (interim), this unit will continue to develop self-serve tech solutions that solve the pain points of creators.
Persons: Jellysmack, Snapchat, Michael Philippe, Philippe, Michael Philippe ,, What's, Sean, Axel, , Robin, Michael, Swann Organizations: Business, Facebook, BI, CSE, Works, Our,  Jellysmack, Network Media Locations: France, French
Read previewKelly Monahan wants to use "data-driven empirical insights to help guide" the conversation around the future of work. As the managing director of Upwork's Research Institute, Monahan knows this is an uphill battle. I'm going to make kind of a bold statement: I'm really excited for job disruption. As leaders, and as workers, we can begin to really think about redesigning the job itself. I thought we'd be much further along in that conversation, which is why as a researcher, I'm really willing to dive back into it going into 2024.
Persons: , Kelly Monahan, It's, Monahan, I've, it's, Kelly, There's, that's, we'd, I'm Organizations: Service, Upwork's Research, Business
5G and other connections will also power access to the venues: The 2024 Paris Olympics will be the first to operate solely with digital — not paper — tickets. The opening ceremony will also use 5G: At the Paris Olympics, instead of the traditional parade around a stadium, the athletes will move down the Seine River in boats. "Ahead of the Olympic Games, Orange is reinforcing its 5G coverage across France, including on all Olympics sites," he added. But the 5G mobile capacity won't just be useful for those who want to share moments. "Our 5G mobile capacity will also allow additional services, such as haptic tablets for blind people to follow the events in real-time," Rojat said.
Persons: , Paris Olympics Bertrand Rojat, Rojat, Bruno Marie, Rose, Marie, It's, There's, It'll Organizations: Olympic, Service, Paris Olympics, Orange Locations: Paris, Orange, France
AdvertisementNow, scientists are looking into everything from acoustic fabrics to court spacing in a bid to come up with a solution. Why is pickleball noise so annoying? The engineer founded Pickleball Sound Mitigation LLC, a firm that specializes exclusively in the sport, per The Hustle. AdvertisementThe organization hopes the "quiet category" could soon "encompass a wide range of products, including paddles, balls, paddle covers, and noise mitigation screens for pickleball courts," the statement. USA Pickleball is also compiling a list of acoustic experts trained to help dampen the noise of the game, per Axios.
Persons: , Sue, Ellen Welfonder, she'd, Nicole Laffan, Laffan, RJ Sangosti, Kausik Sarkar, Braxton Boren, WUSA9, Boren, Bob Unetich, Unetich, Pickleball, Carl Schmits Organizations: Service, Washington Post, Fitness Industry Association, New York Times, Northeastern Global, MediaNews, Denver, Getty, George Washington University, University, Carnegie Mellon University, USA Locations: British Columbia, Washington, Denver , Colorado, USA
There is also some concern about job losses and loss of market access by smaller banks. Changing an organization's behavior is difficult and takes sustained effort, said DirectBooks CEO Rich Kerschner. Interest in automation grew as desks struggled with corporate bond volumes that touched a record $1.78 trillion in 2020. Three years into it, only a small proportion of orders and allocation messages for a new bond were going through DirectBooks. Once in place, hundreds of investors using OMS platforms could send their order messages and receive allocation messages through DirectBooks, said Kerschner.
Persons: Carlo Allegri, Rich Kerschner, Spencer Lee, salespeople, Daniel Botoff, Goldman Sachs, Morgan Stanley, DirectBooks, Chris Sztam, BlackRock's Aladdin, RBC's Botoff, Shankar Ramakrishnan, Anna Driver Organizations: New York Stock, REUTERS, Bloomberg, underwriters, RBC Capital Markets, Bank of America, Barclays, BNP, Citi, Deutsche Bank, JPMorgan, P Global Market Intelligence, Development, Thomson Locations: Manhattan, New York City , New York, U.S, Wells, DirectBooks, Charles
That’s the way two leading experts on urban warfare described the prospect of a ground attack by Israel on Hamas’ base in the streets and tunnels of Gaza. It’s in a body of knowledge on how to do this big of an urban operation as fast and effectively as possible. Israel continues to deploy soldiers and armored vehicles along the Gaza border in Zikim kibbutz of Ashkelon, Israel on October 14. In the concrete jungle of urban warfare, most of your weapons may not even penetrate the building the enemy is in. BERGEN: Doesn’t this have some implications for the “mass” involved when you launch a military operation in Gaza?
Persons: Peter Bergen, , Liam Collins, John Spencer, ” Collins, Spencer, ” PETER BERGEN, JOHN SPENCER, LIAM COLLINS, SPENCER, Mostafa Alkharouf, You’re, Liam Collins SPENCER, COLLINS, It’s, Nir Oz, David Kilcullen, you’ve, BERGEN, There’s, Yoav Gallant, Ronen Zvulun, We’re, Let’s, Liam, John Spencer BERGEN, Ukraine that’s Organizations: New, Arizona State University, Apple, Spotify, CNN, Hamas ’, Warfare, Madison Policy, New America, US Army Special Forces, Modern, US Military Academy, West, Israel Defense Forces, Hamas, Getty, IDF, Israel's, ISIS, Twitter, Facebook Locations: New America, Israel, Gaza, US, Madison, Afghanistan, Iraq, United States, Jerusalem, BERGEN, Gaza . Israel, Zikim, Ashkelon, Anadolu, COLLINS, Palestinian, Hamas, Israel's, Mosul, That’s, Ukraine, Russia, Let’s, Berlin, SPENCER
Ad giant IPG has officially figured out what to do with its embattled data and technology unit Kinesso, which went through a massive shakeup over the summer that saw many of its top execs depart, as Insider first reported. Kinesso has now been merged with Reprise, an agency within Mediabrands, IPG's group of media-buying agencies. "We're trying to create an end-to-end media engine that fuels the rest of IPG Mediabrands," Martin told Insider. But the areas where the new KINESSO specializes in — like data expertise, technology, and AI — are expected to be a means for growth. KINESSO has about 6,200 employees, roughly a third of the 18,000 staffers Mediabrands has across its global network.
Persons: Kinesso, Jarrod Martin, IPG, Martin, Eileen Kiernan, Kiernan, Philippe Krakowsky, it's, Mediabrands Organizations: Reprise, UM, Initiative, Revenue, Bank of America Locations: Mediabrands
But with so many tech investors at the helm who are eager to pilot new technologies like flying cars, I’m not optimistic. It’s challenging to transform our existing cities and to pilot new tech solutions on our streets. Wouldn’t it be easier to test new technologies, business models and government structures in cities free of pesky people? Market them to people who choose to join and see what the world learns.”But, these new cities are never really built from scratch. Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram.
Persons: Technotopians, they’ve, they’re, That’s, Lonsdale, Solano, They’ve, ” John Garamendi, we’ll, Molly Turner Organizations: Democrat, Haas School of Business, University of California, New York, Facebook, Twitter Locations: Toronto, Polynesia, Solano County, University of California Berkeley,
Here are the biggest calls on Wall Street on Thursday: Bank of America downgrades J.M. "Our prior Buy rating was based on the view that SJM would focus on a more optimized portfolio of core brands, following several years of divestitures of low growth/margin assets. Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating on the stock due to "AI innovation & potentially lower expenses." Bank of America reiterates Blackrock as buy Bank of America said the company is the "leading platform for investing & tech solutions." Goldman Sachs reiterates FedEx as buy Goldman said it's standing by its buy rating heading into earnings next week.
Persons: Morgan Stanley, Wells, JPM, PENN, VIRT, William Blair, Jefferies, MET's, Semtech, Wolfe, TD Cowen, Redburn, BLK, Goldman Sachs, Goldman Organizations: Bank of America, Amazon, Nvidia, NVIDIA, JPMorgan, Apple, Wave7 Research, Deutsche Bank, Penn Deutsche, Penn, Citi, Google, BMO, Jefferies, MetLife, Susquehanna, Blackrock, FedEx
Apps such as Somryst — known as prescription digital therapeutics — aim to raise the bar for personal healthcare delivered via smartphone. Digital therapeutics show promise for treating IBS and insomniaFunding for digital therapeutics surged by 133% between 2020 and 2021, and the sector's global value is estimated to grow from roughly $7 billion to about $28 billion from now to 2030, Fortune Business Insights reported. In fact, many insurance companies want years of data on real-world use before covering digital therapeutics, Insider previously reported. While there are free nonprescription DTxs available from sources such as the Department of Veterans Affairs, those aren't cleared by the FDA, and privately made prescription digital therapeutics often cost hundreds of dollars. "Digital therapeutics are meant to increase access to care.
Persons: Charlotte Jee, Jee, Corey McCann, John Torous, Beth Israel, they're, Torous, They're, AspyreRx, Mark Berman, hadn't Organizations: Healthcare, Morning, MIT Technology, National Health Service, Food and Drug Administration, Pear Therapeutics, Harvard Medical, Beth Israel Deaconess Medical, Fortune Business, FDA, Better Therapeutics, Disease Control, Department of Health, Human Services, of Health, Department of Veterans Affairs, Aetna
Allison Gorman Nachtigal was previously the head of Morgan Stanley's cloud program. Allison Gorman Nachtigal, the former head of Morgan Stanley's cloud program, has departed the bank for the tech giant, Insider has learned. Microsoft's cloud computing program Azure is Morgan Stanley's primary cloud partner. As Morgan Stanley's new head of cloud engineering, Nam handles the plumbing behind Morgan Stanley's cloud efforts. Meanwhile, Brosnan, head of technology architecture and modernization, absorbed Morgan Stanley's cloud architecture and business enablement responsibilities.
Persons: Allison Gorman Nachtigal, Morgan, Yunchi Nam, Trevor Brosnan, Morgan Stanley, Gorman Nachtigal, Morgan Stanley's, Nam, Brosnan, Michael Poser Organizations: Microsoft
Bill Gates has spent years, and billions of dollars, working to combat climate change. But, according to Gates, most people are still unaware of the role played by one of the biggest contributors to climate change: agriculture, specifically methane emissions from livestock and fertilizers. While plant-based foods have won support from those looking for alternatives to products made from animals, Gates said that he started backing plant-based food ventures because of their potential to combat climate change. In his 2021 book, "How to Avoid a Climate Disaster," Gates wrote that effectively combating climate change will take people being willing to commit to new ideas, like switching to electric cars and synthetic meats. Speaking to Thompson about the plant-based meat startups, like Impossible, Gates said that "they're doing well, but a lot of people want him to make [the product] even slightly better."
Persons: Bill Gates, Gates, Ahmir, Thompson, Barack Obama, Warren Buffett Organizations: U.S . Environmental Protection Agency, MIT Technology Locations: Gates, Philadelphia, U.S
As Shopify's app ecosystem matures, it's becoming a make-or-break moment for some developers and partners. If they succeed in the public markets, it's a positive sign for the Shopify ecosystem. Upcoming IPOs will be a testSome Shopify ecosystem companies are eying the public markets, even in a year when IPO activity has been slow. That will make it even more important for Shopify's app partners to ensure their solution is differentiated from competitors. "This shared focus is why we're committed to ensuring a healthy Shopify ecosystem that fosters innovation, scale, and speed."
Persons: Shopify, it's, it'll, Amit Jhawar, Ben Parr, Parr, lockdowns, Sid Murlidhar, we're, Chris Wattie, Jhawar, Glen Coates, It'll, Chris Grouchy, Convictional, Roger Kirkness, Rick Watson Organizations: Shopify, Reuters, Shopify Ventures, Global, RMW Commerce Consulting Locations: Klaviyo, Ottawa , Ontario, Canada, Shopify
Jamie Iannone, eBay's CEO, spoke with Insider about the next phase in the e-commerce giant's evolution. Iannone said eBay's size would empower it against emerging competitors such as TikTok and Shein. But the number of new eBay buyers grew for the second straight quarter, Iannone said. The next version of that product is set to use image recognition, allowing eBay's sellers to create a product listing based on a photo. When asked about new competitors such as TikTok, Shein, and Temu, Iannone said eBay was "focused on our strategy and how we win."
Persons: Jamie Iannone, Iannone, what's, we've Organizations: eBay, Walmart, Reuters, Brand Locations: China
Ocado shares surged on Tuesday after the British online supermarket and technology group kept its financial guidance for the year as it reported a return to underlying profit in its first half. Shares surged 15.3% to their highest since February, beating the four-month peak set in June after a report of possible takeover interest from Amazon boosted the company's stock. Its Technology Solutions revenue jumped 59%. Ocado said there was no change to the financial guidance given at its full-year results in February. Ocado shares surged 32% on June 22 after The Times newspaper reported speculation of possible bid interest in the online supermarket from more than one U.S. suitor including tech heavyweight Amazon.
Persons: Chris Beauchamp, Ocado, I've, Tim Steiner Organizations: Technology Solutions, IG Group, Tech Solutions, Ocado, Marks, Logistics, Kroger, Casino, Jefferies, U.S, The Times Locations: United States, Japan, France, U.S
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