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Firms like Correlation Ventures, 645 Ventures, and Fly Ventures have long used data and AI to help guide investment decisions. AdvertisementEarlier this year, Sri Chandrasekar, a partner at Point72 Ventures, noticed a startup in his portfolio was having a breakout week. Related stories"If you go to any venture firm's website, you'll find that half the names are not doing anything to do with investing," Chandrasekar said. Advertisement"If you look at the large firms, they got very, very large in the last few years," said Andy McLoughlin, managing partner at Uncork Capital. Venture firms will have to remake themselves into a combination of people and A.I."
Persons: , Matt Krna, Krna, Sri, Chandrasekar, Christina Melas, Andreeseen Horowitz, Andy McLoughlin, James Currier, Currier, McLoughlin Organizations: Service, Business, Ventures, Fly Ventures, Point72 Ventures, Bain Capital Ventures, Bain Capital, Catalyst, Lightspeed, Uncork, Venture, Deloitte, San Locations: San Francisco, Sri Chandrasekar
Global luxury goods sales growth will slow in 2024, per a new Bain & Company report. "Luxury shaming" and price hikes without innovation could also contribute to sluggish sales growth. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe spike in the global sales of luxury goods could be coming to an end in 2024, and "luxury shaming" could be in part to blame. A report published on June 18 by Bain & Company forecast that worldwide sales of personal luxury goods — which include high-end clothing, shoes, handbags, and beauty products — would grow at the slowest rate since 2020, when sales plummeted due to pandemic-related factors.
Persons: Organizations: Bain & Company, Service, Business
Target is the latest retailer to put generative artificial intelligence tools in the hands of its workers, with the goal of improving the in-store experience for employees and shoppers. On Thursday, the retailer said it had built a chatbot, called Store Companion, that would appear as an app on a store worker’s hand-held device. The idea is to give workers “confidence to serve our guests,” Brett Craig, Target’s chief information officer, said in an interview. Target is testing the device in 400 stores and plans to make the app available to most workers across its nearly 2,000 locations by August. As the retail industry experiments with generative A.I., some see its potential to eventually make in-store shopping feel more like online shopping, said Roy Singh, the global head of Bain & Co’s advanced analytics practice who works with retailers on generative A.I.
Persons: ” Brett Craig, Target’s, Roy Singh Organizations: Bain & Co’s
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at why the rise of "quiet vacationing" shows the depressing state of America's work culture . If you're unfamiliar with the distinction, let me introduce you to a new workplace phrase: quiet vacationing . But Business Insider's Emily Stewart argues workers feeling too stressed to fully take time off is a sad example of America's work culture. The irony is that quiet vacationing could arguably put you in a worse position for your job these days.
Persons: , Jenny Chang, Rodriguez, Slack, Emily Stewart, Martin Barraud, Wally Pipp, Pipp, Lou Gehrig, Wally Pipped, Alyssa Powell, Steve German, Arizona's, Mohamed El, Erian, China's, Brooks Kraft, They've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Business, New York Yankees, American League, Yankees, Getty, Partners, Alfa Bank, YouTube, Foo Fighters, BI, Amazon, Bain & Company, Brooks Kraft LLC, Harvard, Hollywood . Media, Dell Locations: Arizona, Miami, China, Beijing, Shanghai, Russia, Hollywood, New York, London
A vast majority of US companies are adopting generative AI tools, according to a new Bain survey. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBusinesses are embracing generative AI at an unusually fast pace. Half were tech companies while the rest were spread across retail and consumer goods, manufacturing, healthcare, and financial services. Here are the highlights:This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Bain, Service, Bain & Company, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBain & Co outlines China's consumer trends and the slow recovery of confidence: 'Luxury shame'Derek Deng, senior partner at Bain & Company, on why consumers in China are buying less luxury goods and where they are spending their money.
Persons: Derek Deng Organizations: Bain, Co, Bain & Company Locations: China
China, the world's factory, is known for producing affordable goods quickly. But China EV makers shouldn't leverage on their price advantage in the long run as it's not sustainable, said a Bain consultant. The EU will impose up to 48.1% tariffs on Chinese EV imports next month to protect European economies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina has been the world's factory floor for the last 40 years, propelling it into the position of the world's second-largest economy.
Persons: Organizations: EU, EV, Service, Business Locations: China, Bain
Read previewDeputy National Security Advisor Jonathan Finer said there isn't a specific single weapon Ukraine needs to defeat Russia. Instead, Ukraine needs a consistent flow of certain capabilities. Finer said that he wishes the US could provide Ukraine with an endless supply of artillery and air defense weaponry, which Ukraine needs most. AdvertisementIn May, the consulting firm Bain & Company found that Russia is producing artillery shells three times faster than Ukraine's NATO partners for less, and it is expected to refurbish or produce as many as 4.5 million artillery shells this year. US veterans who have fought in Ukraine have also said the same thing in the past, especially as Ukraine grappled with debilitating ammo shortages.
Persons: , Jonathan, Dmytro Smolienko Organizations: Service, New American Security, Business, Bain & Company, NATO, Armed Forces, American, Publishing, Getty, CNN, Abrams Locations: Ukraine, Russia, Europe, Russian, Kyiv
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is $3.9 trillion in the industry still to be invested in private equity: Bain & CoGraham Elton, EMEA chairman of Bain & Co, discusses the private equity market with Annette Weisbach on the backdrop of the SuperReturn conference in Berlin.
Persons: Bain & Co Graham Elton, Annette Weisbach Organizations: Bain & Co Locations: Berlin
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Austin Wang, a class-of-2025 computer-science major at Yale University, said students were "scared that engineering roles will be replaced in the future." Handshake found that fewer prospective business graduates were applying to consulting roles and that more were seeking positions in customer relations, marketing, and analytics compared with last year. Handshake's analysis suggested tech job postings geared toward fresh graduates fell by 30% compared with last year. Advertisement"It's quite bad for entry-level jobs in general but even worse for international students," she said.
Persons: , It's, Goldman Sachs, Morgan Stanley, Austin Wang, Fabrice Coffrini, Beth Hendler, Matthew Park, Anika Nair, Rutgers University . Austin Wang, Anika Nair Yale's Wang, Wang, Amr Alfiky, you'll, Adnan Hussain, Christine Cruzvergara, Richard Carruthers, I've Organizations: Service, Management, Big Tech, National Association of Colleges, Employers, Business, New York Times, Yale University, McKinsey & Company, Boston Consulting Group, Bain & Company, Accenture, McKinsey, Getty Images Industry, Yale, Tech, Companies, Ivy League, Rutgers University ., Rutgers University, JPMorgan —, Investment, Citigroup, JPMorgan, Deutsche Bank, Finance, Reuters, National University of Singapore, Imperial College London, KPMG, Deloitte, HSBC, Amazon Web Services Locations: Wall, AFP, Singapore
"Improving domestic ecommerce market share should lead to better monetization eventually," Yao said. The investment firm expects Douyin to match PDD's market share of 21% next year, and surpass it by reaching 22% in 2026. Tencent's WeChat Video Account platform is expected to retain about 2% to 3% of GMV market share through 2026, the Goldman analysis said. The video streaming platform last month reported e-commerce GMV grew by 28.2% year-on-year in the first quarter to 288.1 billion yuan ($40,55 billion). The firm forecasts Kuaishou's e-commerce GMV revenue will grow by 25% this year, although livestreaming revenue — which has accounted for about a third of total revenue — is expected to drop due to a high base.
Persons: James Yang, Bain, Joe Tsai, Emily Tan, Yang, Alibaba, Goldman Sachs, Ronald Keung, David Ma, China's, Morgan Stanley, Eddy Wang, Kenneth Fong, JD, David Beckham, Alex Yao, monetization, Yao, Tmall's GMV, Douyin, Alibaba's, Tencent's, Goldman, Sophie Huang, — CNBC's Michael Bloom Organizations: Bain and Company, PDD Holdings, Goldman, UBS, JPMorgan China, ByteDance, Hong Locations: China, Hong Kong, Asia, U.S, Alibaba, 2Q24, 2Q24E
Read previewThe US has opened a new factory for Howitzer ammo near Dallas, which aims to pump out 30,000 of the 155mm shells a month as the Ukraine war chews through Western stocks. The new facility at max capacity would bump total production to 66,000 shells a month for the US. Kofman told the outlet that while the Mesquite plant would be important for long-term production, Russia would likely still be producing more ammo than the West even if the US hits its 2025 goal. The US and Europe have sent Ukraine more than 3 million 155mm artillery shells since the war began. With Washington and its allies expected to produce about 1.3 million rounds in 2024, that would be about a third of Russia's forecast capacity at triple the cost.
Persons: , John Ismay, Ismay, Michael Kofman, That's, Kofman, Doug Bush Organizations: Service, General Dynamics, The New York Times, Business, Texas, US Army, CNN, Kyiv, Carnegie Endowment, International, European Union, Sky News, Bain & Company, Washington, Press, Pentagon Locations: Dallas, Ukraine, Mesquite , Texas, The, Pennsylvania, Moscow, Kyiv . Washington, Israel, Europe, Russia, Mesquite, Kyiv
History has been made at Yale University as Maurie McInnis becomes the first woman to be named permanent president of the Ivy League school. She has served as a Yale trustee since 2022 and earned master's degree and doctorate from Yale, per the school's announcement Wednesday morning. Yale has had only one other female leader, the historian Hanna Holborn Gray, who served as interim president from 1977 to 1978. It is the last Ivy League school to name a permanent woman president. In an interview with the Yale Daily News, McInnis expressed her gratitude for being elected president and reiterated her commitment to "tackle the world's most pressing challenges."
Persons: Maurie McInnis, McInnis, Hanna Holborn Gray, Peter Salovey, Joshua Bekenstein, Organizations: Yale University, Ivy League, Yale, Stony Brook University, University of Texas, University of Virginia, Bain Capital, Yale Corporation, Yale Daily News, Harvard University, University of Pennsylvania, Cornell University, Stony Brook, CNBC Locations: New Haven , Connecticut, Long, New York, Austin, Israel, Stony
Yale University’s new president will be Maurie D. McInnis, currently the president of Stony Brook University, a New York state public university, where she is known for raising the school’s profile, donations and prestige. When she takes over from Yale’s outgoing president, Peter Salovey, in July, Dr. McInnis, who earned masters and doctoral degrees from Yale in the 1990s, will become the university’s first permanent female president. Her selection followed a search that began last fall. The delay in announcing a successor for Dr. Salovey, who leaves his post at the end of June, prompted speculation that the university’s selection committee was having difficulty finding someone during a tumultuous time on university campuses. Joshua Bekenstein, a founder of Bain Capital who heads the Yale Corporation, the university’s governing board, said the search committee had undertaken a “very thorough” selection process.
Persons: McInnis, Peter Salovey, Salovey, Joshua Bekenstein Organizations: Yale, Stony Brook University, Bain Capital, Yale Corporation Locations: New York
Russia is producing shells 3 times faster than Ukraine's allies, a report said. The report said Russia was also producing shells more cheaply. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia is producing artillery shells faster and at a lower price than Ukraine's NATO allies, a report found. By comparison, the US, the UK, and other European allies are expected to produce 1.3 million this year.
Persons: Organizations: Service, NATO, Bain & Company, Sky News, Business Locations: Russia, Ukraine
India and Japan are two bright spots in Asia's "supremely interesting" markets, JPMorgan's Filippo Gori said at the bank's Global China Summit on Thursday, referring to the region's equity as well as deal-making landscape. India, which is very in high demand," Gori, co-head of global banking at JPMorgan, told CNBC. While mergers and acquisitions activity declined globally in 2023, Japan's deal value rose 23% from a year ago to about $123 billion, Bain & Company said in its Japan M&A report. "Japan's economy is uniquely well positioned for growth in M&A," the report said. Last year M&A deal value in India stood at $136 billion, a 27% drop for a year earlier, which was in line with the global decline in M&A activity, according to Deloitte's India M&A trends report.
Persons: Filippo Gori, Deloitte Organizations: Global China Summit, JPMorgan, CNBC, Japan's Nikkei, Bain & Company, Companies, China, Apple Locations: India, Japan, Gori, China
What Do Students at Elite Colleges Really Want?
  + stars: | 2024-05-22 | by ( Francesca Mari | ) www.nytimes.com   time to read: +1 min
“Freshmen after spending 0.02 seconds on campus,” read the caption, posted in 2023 to the anonymous messaging app Sidechat. The campus in question was Harvard, where, at a wood-paneled dining hall last year, two juniors explained how to assess a fellow undergraduate’s earning potential. It’s easy, they said, as we ate mussels, beets and sautéed chard: You can tell by who’s getting a bulge bracket internship. One of the students paused, surprised that he was unfamiliar with the term: A bulge bracket bank, like Goldman Sachs, JPMorgan Chase or Citi. Not to be confused with M.B.B., which stands for three of the most prestigious management consulting firms: McKinsey, Bain and Boston Consulting Group.
Persons: , sautéed, who’s, ” Benny Goldman, Goldman Sachs Organizations: Harvard, JPMorgan Chase, Citi, The, McKinsey, Bain, Boston Consulting Group Locations: sautéed chard
The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021. Contract management platform DocuSign is committed to remaining a public company and is working to convince investors of its artificial intelligence potential, CEO Allan Thygesen told CNBC, after reports suggested the firm had been the target of takeover interest from private equity suitors. "We're focused on building a great, independent public company," Thygesen told CNBC in an interview earlier this week at a partner event the company held in London. "I joined DocuSign as a public company, it's a very exciting time right now, so that's our plan." Bain Capital and Hellman & Friedman were unavailable for comment when contacted by CNBC.
Persons: Allan Thygesen, We're, Thygesen, DocuSign, Bain, Friedman Organizations: CNBC, Bain Capital, Hellman, Reuters, Bloomberg Locations: Dobbs Ferry , New York, London, DocuSign
AdvertisementPros and cons of living in VancouverBain noted to BI several personal advantages to living in Vancouver, including the people who she has found can be welcoming and generous. After living in Australia and given her work as a destination makeup artist, Bain said another pro is the proximity from Vancouver to other places. Advertisement"I felt like I really wanted to experience more of the world," she said. She also found that wedding work in Canada is more seasonal than in Australia due to the snowy winters. Bain is happy living in Canada and the positives that come with being there.
Persons: , Kellsie Bain, Bain, Vancouver Bain, I've, she's, aren't, York isn't, it's Organizations: Service, Business Locations: Sydney, New York City, New York, Canada, Vancouver, Australia, York, States
Employee opinion of senior leadership is a crucial attraction and retention factor. A new Glassdoor ranking identifies the 50 best-led companies, according to employee reviews. AdvertisementRecent years have seen a renewed spotlight on company leadership and management, owing to everything from mass layoffs in various industries amid cost-cutting to return-to-office mandates to pullbacks from ESG efforts. Employee sentiment toward senior leadership is a big factor in attracting and retaining talent. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Bain & Company, Nvidia, AMD, Adobe, Microsoft, Service, Business
The company with the best leadership in the U.S. isn't a tech titan or hospitality giant: It's management consulting firm Bain & Company. That's according to Glassdoor, which released on Tuesday its inaugural 50 Best-Led Companies ranking. The list measures how effectively bosses communicate and foster healthy company cultures, based on the workplace review website's anonymous employee ratings. Beyond Bain, the tech industry does occupy much of the list — 12 companies, more than any other sector. Consulting, finance and retail are the next-most represented industries, with six companies appearing from each.
Persons: Bain, Glassdoor, Daniel Zhao, Zhao, Nvidia Raymond James Organizations: Bain & Company, Consulting, CNBC, Equitable, Autodesk Bain & Company Locations: U.S
The fall of Gucci was inevitable
  + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com   time to read: +13 min
"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.
Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia
Disney has appointed two senior executives to oversee corporate strategy as it considers the future of its linear business and contends with streaming losses. Veteran Disney exec Justin Warbrooke, meanwhile, was named EVP and head of corporate development, overseeing M&A as well as divestitures, among other areas. Mayer was Disney's EVP of corporate strategy and business development before going on to run strategy and the DTC and international businesses. As such, we are evolving the Corporate Strategy function to better align with this vision, which includes two leadership roles — one focused on Corporate Strategy and another focused on Corporate Development — both reporting directly to me. In addition to strategy, Andre has advised clients on the topics of operations, organization, customer journey design, and M&A.
Persons: Disney, Nelson Peltz, It's, Bob Iger, Bain, Andre James, Justin Warbrooke, James, Marvel, Hugh Johnston, Kevin Mayer, Mayer, Iger, Tom Staggs, , Andre, Justin, Hugh Organizations: ESPN, Business, Veteran Disney, Coopers, Lybrand's, DTC, Century Fox, Disney, Media, Walt Disney Company, Corporate, Strategy, Development, of Media, Entertainment, Bain & Company, Consumer, Marvel, Reliance, Fox, Warner Bros . Discovery, Finance Locations: Hulu, India
And Musk notably skipped a recent visit to India, underscoring how important China is for Tesla. AdvertisementElon Musk's two-day trip to Beijing looks like a mutually-beneficial win for Tesla and for China — and a snub for India. AdvertisementMusk needs China — but China also needs Musk, as a sign that the country is open for business with high-profile US companies. Musk's visit was going to include an announcement about Tesla entering India, Reuters reported. AdvertisementMusk's India visit would have been a win for Modi, who is seeking to boost India's status as a manufacturing hub, especially as businesses leave China.
Persons: Elon Musk, , Elon Musk's, China —, Premier Li Qiang, That's, Tesla, Dan Ives, Ives, India Musk, Janet Yellen, Antony Blinken, Musk, crackdowns, Bain —, Narendra Modi, Musk's, Modi Organizations: Tesla, Service, India, Premier, Baidu, Reuters, EV, FSD, Financial Times, China, Communist Party, Gucci, Apple Locations: China, Beijing, India, Shanghai
"It was meant for all global EV manufacturers and domestic manufacturers." While much of the "buzz has been around Tesla," Singh underscored the initiatives will also attract other foreign automakers, highlighting that Vietnam's leading EV maker "VinFast has already announced its intent." In February, VinFast broke ground on its integrated EV manufacturing facility in India's southern state of Tamil Nadu. As competition in India's EV sector remains limited, the entry of major players like Tesla, will level the playing field, MG Motor India's CEO Emeritus Rajeev Chaba told CNBC. Robust trajectoryAccording to Counterpoint Research, India's EV sales nearly doubled in 2023, driven by rising consumer interest and government initiatives, among other factors.
Persons: Rajesh Kumar Singh, CNBC's, Singh, VinFast, Elon Musk, Narendra Modi, Tesla, Rajeev Chaba, EVs, Modi, Ola, Bain Organizations: Department, Promotion, Industry, Internal, EV, CNBC's Sri, Motor, CNBC, Counterpoint Research, International Energy Agency, TVS Motor, Bajaj, Ampere, Bain & Company Locations: India, Tamil Nadu, China
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