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☆ Everything you need to know about a crazy weekend in the wake of Silicon Valley Bank's failure
▼ + stars: | 2023-03-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

It's all about Silicon Valley Bank going down and the knock-on effects. If you're not up to speed, here's a quick rundown on what the hell happened at Silicon Valley Bank. The US Treasury, Federal Reserve Board, and the Financial Deposit Insurance Corporation announced they would "fully protect" all depositors who had funds in Silicon Valley Bank. Regulators also made one thing clear with their announcement: "No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer." Nobel Prize-winning economist Paul Krugman has a new name for Silicon Valley Bank.

☆ Citadel joins a growing number of firms rolling out internships for undergrads looking for a fast track to the buy side
▼ + stars: | 2023-02-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Investment banks, you've been put on notice: The buy side is coming for your young talent. Insider's Emmalyse Brownstein has a full rundown on an undergrad internship at hedge fund Citadel for aspiring fund managers. The Citadel Associate Program (CAP) is a tough nut to crack, with an acceptance rate of only 1%. Click here learn more about Citadel's ultra-exclusive associate program, along with tips to get ahead during the application process. And if you're wondering who is left leading the world's largest hedge fund, look no further than our list of the fund's top 11 executives.

☆ Goldman’s Marcus is a lesson in self-made failure
▼ + stars: | 2023-02-02 | by ( John Foley | ) www.reuters.com time to read: +7 min

Being a consumer bank was a good idea when Goldman’s leaders cooked it up eight years ago. Fast forward to 2023, and consumer banking is still highly lucrative. The practice of working through the night is common in the investment banking division Solomon once headed but rare in consumer banking. For example, Goldman’s engineers had to fight to host consumer banking systems on the cloud rather than on the bank’s own servers. That year, nobody from the consumer bank was promoted to the firm’s prestigious partner level.

☆ A PE firm that's built its brand on high-profile sports deals is broadening its scope
▼ + stars: | 2023-01-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But one firm that's already well established in the space is looking to quietly diversify itself beyond the pitch. With seemingly everyone interested in sports these days, Cardinale is smart to want to hedge his firm. The crypto exchange also agreed to pay $50 million to improve how it vets customers and transactions. Mala Gaonkar's hedge fund just made its long-awaited debut. SurgoCap Partners entered the fray this week with $1.8 billion in capital, making it the biggest launch of a women-led hedge fund, Bloomberg reports.

☆ PE wants to see some cash flow before it starts making deals
▼ + stars: | 2022-12-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

As the markets continue to sour, and a recession looms, everyone's wondering when PE firms will begin scooping up assets. High on Bae's wishlist are "all things digital," he said, with one giant caveat: profitability. There are plenty of companies doing fascinating things in the digital space, but many have yet to reach profitability (*cough* fintechs *cough*). Goldman Sachs is going dumpster diving for crypto companies. Chaos in the crypto markets is creating investing and acquisition opportunities for the bank, according to Matthew McDermott, Goldman's head of digital assets.

☆ Wall Street bonus survey shows that most bankers and traders think they will be the exception to the 2022 compensation slump
▼ + stars: | 2022-12-06 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

Wall Street bonuses are predicted to fall as much as 45% this year amid a dealmaking slump. But a recent survey of traders and investment bankers suggests few think the slump will apply to them. The word on Wall Street ahead of the holidays has been loud and clear: Bonuses won't be good this year. Senior traders who predicted big bonus increases said they were expecting to be paid up because their personal P&L was up, according to the survey. Are you concerned about your bonus or taking steps to secure a bigger slice of the bonus pool?

☆ From the future of work to algos for home pricing, these are what the brightest young minds in real estate are working on
▼ + stars: | 2022-11-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

There's no shortage of ties between Wall Street and real estate. So it's only fitting that we'd highlight Insider's third-annual list of rising stars in real estate. The latter boils down to trying to use tech to automate and innovate a key, but sometimes costly, part of the business, something Wall Street is well versed in. There is Megan LeMense, 34, a former WeWorker who is thinking about the future of the office in her role at Raise Commercial Real Estate. BlockFi is the latest crypto firm caught up in the FTX debacle.

☆ The housing-affordability crisis is sparking startup founders, Wall Streeters, and nonprofit leaders to try to offer new solutions
▼ + stars: | 2022-11-15 | by ( Hana R. Alberts | Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Some innovations may help homebuyers, renters, and investors cope with the affordability crisis. 100 People Transforming Business is an annual list highlighting people across industries who are changing the way the world does business. Mortgage rates have topped 7%, the highest rate in 20 years, which means homebuyers can afford less house for their money. That's why many people and companies in the real-estate industry are trying to help homebuyers, renters, and investors cope with an affordability crisis. That's where the Washington, DC, nonprofit Grounded Solutions Network comes in: It says it helps repurpose "vacant space into vibrant space."

☆ The 4 'essential' relationships that helped this 32-year-old grow her business to bring in 7 figures
▼ + stars: | 2022-10-26 | by ( Ashton Jackson | ) www.cnbc.com time to read: +5 min

Running a successful business is hard – and building a successful business as a Black woman is even harder. Black women are the fastest growing group of entrepreneurs in the U.S., according to JP Morgan, yet they face disproportionate financial barriers. However, Black women founders only average $24,000 in profits. According to Williams, these are the four essential relationships every business owner should have to "scale their impact." I have a trifecta of successful [women] business owners and we meet weekly sharing resources with each other," Williams shares.

☆ 'Deer in the headlights': Young bankers on Wall Street have had it easy for years — but they're about to face a bloodbath
▼ + stars: | 2022-10-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +8 min

If you can spare compassion for anyone on Wall Street during these volatile times, please consider the youth. That also meant bankers on Wall Street got fat off the huge fees that came with advising these companies or taking them public. Wall Street is an apprenticeship system; young bankers learn by watching senior bankers do things and by doing all the time-consuming grunt work senior bankers don't want to do. Many of the rules that young Wall Street just learned about how the markets react to events have to be thrown out the window. In the crowd at the conference that day were a bunch of young Wall Streeters who had been invited to attend as a learning experience.

☆ Billionaire Warren Buffett swears by this inexpensive investing strategy that anyone can try
▼ + stars: | 2022-10-03 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

In the past 20 years, investing in low-cost index funds like the S&P 500 has come to dominate much of the investing landscape. No one can pinpoint the exact date when it became clear that investing in index funds had won out over investing in active management, but Warren Buffett declaring it to be so was certainly a pivotal moment. Buffett, who chose the Vanguard Index Fund as a proxy for the S&P 500, won by a landslide. Both large and small investors should stick with low-cost index funds." Why low-cost index funds could work for you

☆ Meet the brightest investors and dealmakers under 35 from firms like Blackstone and Bridgewater navigating today's choppy markets.
▼ + stars: | 2022-09-29 | by ( Aaron Weinman | ) www.businessinsider.com time to read: +5 min

After months of interviews and countless rounds of fact checking, meet 25 best-in-class investors, traders, and dealmakers under the age of 35, from firms like JPMorgan, BlackRock, and Apollo, among others. Here is the latest crop of rising stars — Wall Streeters under the age of 35 who are pushing their teams to the top. The end result celebrates people from all walks of life who are infusing new ideas at the biggest firms. He works across the firm's funds TPG Capital and TPG Growth, and also covers TPG's impact-oriented initiative called The Rise Fund. HBCUvc's operating chief reviews hundreds of applications for the program that offers paid internships at VC firms.

☆ Staffers say Goldman Sachs CEO David Solomon has asked them to help with his DJ account
▼ + stars: | 2022-09-22 | by ( Lisa Ryan | ) www.businessinsider.com time to read: +4 min

David Solomon is working hard to build up David Solomon. On a Friday in late July, the Goldman Sachs CEO boarded the company's Gulfstream G650 for Chicago. And that's the latest in a string of actions showing the intertwining interests of David Solomon the CEO and chairman and the interests of Goldman Sachs itself, my colleague Dakin Campbell reports. Staffers say they've been asked to help with his DJ account and they've noted a new emphasis on sports endorsements. Millennium Management tapped Goldman Sachs alum Olga Naumovich to build out its Miami tech hub.

☆ Inside how Cash App is redefining company merch with an in-house fashion line that includes $300 ponchos and handmade crochet cardigans
▼ + stars: | 2022-09-21 | by ( Asia Martin | Carter Johnson | ) www.businessinsider.com time to read: +7 min

Cash App launched a new clothing brand, Cash by Cash App, during the pandemic. In a bid to stand out in a crowded payments market, Cash App launched a fashion brand, Cash by Cash App, in 2020.he line initially offered athleisure styling amid the pandemic. Then, last November, Cash App worked with rapper Megan Thee Stallion on an outside, limited-edition collection that Liang Shi, head of Cash by Cash App said sold out of the few hundred units created. Three women model Cash App robes and Fenty Beauty leisure wear at Afterpay, Cash App & Tidal's Front Row To NYFW Party on September 13, 2022, in New York City. Cash App's Ferdon said that Cash by Cash App "is pretty well integrated" into the company's broader payments "ecosystem."

☆ Wall Streeters peak between 36 and 40, according to a Harvard social scientist. Here's what they forget to plan for in the second half of their lives.
▼ + stars: | 2022-02-16 | by ( Jonathan A. Knee | ) www.businessinsider.com time to read: +6 min

In his new book, social scientist Arthur C. Brooks explains why addiction to achievement is bound to yield disappointment. To find true joy in the second half of life, invest in relationships instead of material possessions and social status. According to From Strength to Strength: Finding Happiness and Deep Purpose in the Second Half of Life, the basic problem is the inevitable decline in our abilities. The decline in peak performance begins far earlier than we are likely to admit across professions, not just in athletes. Strength to Strength reads like a companion volume to the cult classic from 1979, The Drama of the Gifted Child by Swiss psychoanalyst Alice Miller.

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