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☆ Torch Capital's founder has some advice for startup founders: Down rounds aren't such a bad thing right now. Here's why.
▼ + stars: | 2023-04-17 | by ( April Joyner | ) www.businessinsider.com time to read: +3 min

Jonathan Keidan founded VC firm Torch Capital, which backed Ro and recently raised $200 million. Good founders will opt for down rounds over deal terms that could come back to bite, he says. As venture capital funding plummets and investors tighten their purse strings, Jonathan Keidan has a word of advice to startup founders: It's OK to take a down round. Most of the founders Torch has backed, Keidan said, are still steering clear of the relatively sluggish market. "You can roll up your sleeves and really help them, which has been critical in this environment," Keidan told Insider.

☆ Debt ceiling fight shows stakes of Feinstein's Senate absence, Klobuchar says
▼ + stars: | 2023-04-16 | by ( Katharine Jackson | ) www.reuters.com time to read: +3 min

WASHINGTON, April 16 (Reuters) - The standoff over raising the U.S. federal government's $31.4 trillion debt ceiling illustrates the stakes of U.S. Senator Dianne Feinstein's lengthy absence from Washington, fellow Democratic Senator Amy Klobuchar said on Sunday. We have things like the debt ceiling coming up," Klobuchar said in an interview on ABC's "This Week" program. President Joe Biden's Democrats insist on a "clean" debt ceiling bill unaccompanied by cuts. "I have a lot of respect for Senator Feinstein, but she's missed 75% of votes this year.

☆ US Senator Feinstein will step down temporarily from Judiciary Committee
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

Senator Feinstein, recuperating from a bout of shingles and facing calls from fellow Democrats to resign, said on Wednesday her return to the Senate has been delayed and she would temporarily step down from the Judiciary Committee. “I intend to return as soon as possible once my medical team advises that it’s safe for me to travel," Feinstein said. She said "my absence could delay the important work of the Judiciary Committee" and has asked to step down until she is able to resume work. U.S. Senate Democratic Leader Chuck Schumer will grant Feinstein's request and ask the Senate next week to allow another Democratic senator to temporarily serve on the committee, a Schumer spokesperson said in a statement. Feinstein, who will not run when up for reelection in 2024, is currently the oldest serving U.S. senator.

☆ Sen. Feinstein requested to temporarily have someone replace her on the Judiciary Committee amid health concerns, but Republicans could prevent that from happening
▼ + stars: | 2023-04-13 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Sen. Dianne Feinstein asked Senate Majority Leader Chuck Schumer to temporarily replace her on the Judiciary Committee. Without her in Washington, DC, Democrats have been unable to confirm as many Biden judges as preferred. Feinstein currently sits on the Senate Judiciary Committee, where Democrats hold 11 seats compared to the Republican Party's 10. Feinstein released a statement saying that she asked Schumer to have a Democrat temporarily replace her on the Judiciary Committee until her health concerns subside. If Republicans in the Senate prevent the committee change from happening, it could lead to even more pressure from Democrats for Feinstein to resign.

☆ House Dems start to call on Sen. Dianne Feinstein to resign
▼ + stars: | 2023-04-12 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Two Democratic members of Congress just called on Sen. Dianne Feinstein to retire. "I agree with @RoKhanna," Phillips wrote, "Senator Feinstein is a remarkable American whose contributions to our country are immeasurable. Feinstein, who's 89 years old, hasn't cast a vote since mid-February, around the time of her shingles diagnosis. Feinstein currently sits on the Senate Judiciary Committee, where Democrats hold 11 votes to the Republican Party's 10. Without Feinstein present, committee chair Sen. Dick Durbin has for delay committee meetings on multiple occasions when Feinstein would be the pivotal 11th vote, according to NBC News.

☆ The 13 startups to watch in the $100 billion market for buzzy new weight-loss drugs like Ozempic
▼ + stars: | 2023-04-11 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Healthcare startups are launching to prescribe weight-loss drugs such as Ozempic. They're chasing what's projected to be a $100 billion market for the drugs. Venture-backed health startups are vying for a piece of the booming market for new prescription drugs designed to help with weight loss. Many startups offering weight-loss drugs have flooded social media platforms with ads for the shots. Insider rounded up 13 venture-backed startups competing for customers in the lucrative GLP-1 weight-loss market, listed from least to most funding raised.

☆ 3 reasons digital-healthcare pioneer Hims is staying out of the latest weight-loss craze for now
▼ + stars: | 2023-04-10 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

'As startups dive into prescribing hot new weight loss drugs, Hims & Hers is taking a backseat. Its CEO said Hims wants to offer GLP-1s for weight loss, but thinks it's too early. He cited challenges in the young market like insurers refusing to cover GLP-1s and drug shortages. After Hims & Hers' first profitable quarter ever, the startup is thinking about getting in on telehealth's weight-loss craze. An 'inconsistent' supply chainExploding demand for the new weight-loss drugs has also resulted in shortages, which affect all patients prescribed GLP-1s, not just those using the drugs for weight loss.

☆ Lawmakers meet with Apple, Disney CEOs as part of talks on competition with China
▼ + stars: | 2023-04-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +7 min

High-profile tech and media executives shared their experiences of working in and competing with China with lawmakers who visited California this week. Over the three-day trip that kicked off on Wednesday, lawmakers were scheduled to meet with Disney CEO Bob Iger and Apple CEO Tim Cook, as well as high-level executives from Google , Microsoft , Palantir and Scale AI. The trip highlights the key role tech and media industries play in America's increasingly complex relationship with China. In Hollywood, the group of lawmakers from the select committee learned about a range of topics related to competition with China. The group was also slated to meet with venture capitalists on Thursday, including Andreessen Horowitz, Khosla Ventures and SV Angel.

☆ South Korean millennials and Gen Z are raging against the idea of a 69-hour workweek. They are tired, having fewer babies, and are even working themselves to death.
▼ + stars: | 2023-04-06 | by ( Nidhi Pandurangi | Reena Koh | ) www.businessinsider.com time to read: +6 min

The South Korean government wants to increase the workweek to 69 hours. The 69-hour limit relates to a six-day workweek, while the 80.5-hour limit is applicable for a seven-day workweek, according to South Korean outlet Han Kyeo Re. In 2020, 14 delivery couriers in South Korea died of overwork stemming from increased deliveries during the COVID-19 pandemic, Reuters reported, citing a union representative. Notably, the culture of long working hours and death linked to overworking is not specific to South Korea. However, the government is trying to disconnect longer working hours from low birth rates.

☆ Hype Around Weight-Loss Drugs Shows No Signs of Abating. Neither Do the Ads.
▼ + stars: | 2023-04-05 | by ( Katie Deighton | ) www.wsj.com time to read: 1 min

Ro runs ads for its Body Program, which includes access to Wegovy and Ozempic, in New York’s Times Square subway station. Companies promoting drugs such as Ozempic, Wegovy and Mounjaro for diabetes management and weight loss are steadily expanding their marketing strategies, striving to capitalize on the interest around the drugs without seeming to advocate misuse. Ads promoting the drugs, known as GLP-1s—which stands for glucagon-like peptide 1—have become increasingly unavoidable in venues including podcasts, streaming TV and mass-transit hubs.

☆ 13 startups vying for a slice of the $100 billion market for buzzy new weight-loss drugs
▼ + stars: | 2023-04-05 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

☆ Big Tech talking China: Top execs meeting with House lawmakers tomorrow
▼ + stars: | 2023-04-04 | 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 EmailBig Tech talking China: Top execs meeting with House lawmakers tomorrowHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Rep. Ro Khanna, D-Calif., joins the show to discuss tech executives meeting with U.S. lawmakers to discuss their relationship with China.

☆ Apple's Tim Cook, Disney's Bob Iger to discuss China with lawmakers
▼ + stars: | 2023-04-03 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

A group of lawmakers will travel to California to meet with tech and media executives, including Apple CEO Tim Cook and Disney CEO Bob Iger, to discuss China-related topics, CNBC has confirmed. Around a dozen lawmakers representing both parties on the House Select Committee on the Chinese Communist Party are set to make the three-day trip, led by Chair Mike Gallagher, R-Wisc., a spokesperson for the committee told CNBC. Just last week, Cook, whose company relies on China's massive workforce for phone production, met with China's minister of commerce about supply chain issues. Gallagher has previously said he wants Iger and Big Tech executives to testify before the panel. Companies named in this report either did not immediately respond or did not provide a comment.

☆ California Rep. Ro Khanna passes on Senate run and backs liberal icon Barbara Lee over Reps. Katie Porter and Adam Schiff: 'She stood up so strongly against the war in Iraq'
▼ + stars: | 2023-03-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Ro Khanna on Sunday announced that he's backing Rep. Barbara Lee in the 2024 California Senate race. The progressive congressman is endorsing Lee over fellow Democratic Reps. Katie Porter and Adam Schiff. Khanna during his announcement said that Lee would bring a "unique voice" to the upper chamber. Rep. Barbara Lee of California. Scott Applewhite, File"Barbara Lee is a unique voice," Khanna said.

☆ Rep. Ro Khanna on SVB collapse: I put most of the blame on the bank management
▼ + stars: | 2023-03-16 | 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 EmailRep. Ro Khanna on SVB collapse: I put most of the blame on the bank managementRep. Ro Khanna (D-Calif.) joins 'Squawk Box' to discuss where Khanna places the blame on the collapse of SVB, the tech industry's tone over the last week, and why Khanna believes the country needed to guarantee the deposits.

☆ These 13 Democratic senators joined with Republicans to roll back banking regulations in 2018. Progressives say that contributed to Silicon Valley Bank's collapse.
▼ + stars: | 2023-03-14 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Progressives are blaming the collapse of Silicon Valley Bank on a 2018 rollback of banking regulations. The bill was championed by Republicans — but it couldn't have passed without Democratic support. These 13 current members of the Senate Democratic caucus helped Republicans pass the law. Silicon Valley Bank reported $212 billion in assets in the final months of 2022, placing it just under the higher threshold. Here are the 13 members of the Senate Democratic caucus that supported the bill:

☆ How buzzy weight-loss drugs like Ozempic became the next craze in the hottest part of healthcare
▼ + stars: | 2023-03-14 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

Healthcare companies are launching programs left and right to prescribe trendy weight-loss drugs. And Ro, a startup that prescribes and sells products like Viagra and hair-loss pills to consumers, is going all in with a program it launched in January to prescribe the weight-loss drugs to patients online. CalibrateFirst developed to manage type 2 diabetes, GLP-1 medications regulate blood-sugar levels, which can help people curb cravings and feel fuller after eating. The weight-loss market for GLP-1 drugs is relatively new, and not everyone is on board. But for some companies, stepping into prescribing these new weight-loss medications seems to simply be the natural next step for growth.

☆ SVB execs sold $84 million in stock over the past 2 years, stoking outrage over insider trading plans
▼ + stars: | 2023-03-14 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Silicon Valley Bank CEO Greg Becker sold nearly $30 million of stock over the past two years, raising new questions over insider stock sales. Becker sold $3.6 million worth of shares on Feb. 27, just days before the bank disclosed a large loss that triggered its stock slide and collapse. The sale capped two years of stock sales by Becker that totaled $29.5 million, according to data from Smart Insider. Altogether, SVB executives and directors cashed out of $84 million worth of stock over the past two years, according to Smart Insider. The sales have sparked criticism of SVB's management — as well as the broader phenomenon of insider stock sales before major declines.

☆ Why buzzy weight-loss drugs are the next craze for healthcare startups
▼ + stars: | 2023-03-13 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

Healthcare companies are launching programs left and right to prescribe trendy weight-loss drugs. And Ro, a startup that prescribes and sells products like Viagra and hair-loss pills to consumers, is going all in with a program it launched in January to prescribe the weight-loss drugs to patients online. Even startups like Noom, which quietly started a program prescribing GLP-1 medications, could stand to benefit from the drugs' popularity after a tumultuous year for the startup. The weight-loss market for GLP-1 drugs is relatively new, and not everyone is on board. But for some companies, stepping into prescribing these new weight-loss medications seems to simply be the natural next step for growth.

☆ US lawmakers met Fed, FDIC to discuss Silicon Valley Bank's collapse - Coindesk
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +1 min

March 11 (Reuters) - U.S. lawmakers met with the Federal Reserve and Federal Deposit Insurance Corporation on Friday to discuss the collapse of SVB Financial Group (SIVB.O), Coindesk reported on Saturday citing a source. Democratic U.S. Representative Maxine Waters held briefings with officials from the two regulators and the Treasury Department, hours after the startup-focused SVB's collapse, the report said. Separately, Representative Ro Khanna said in a tweet on Friday that he reached out to both the White House and the Treasury Department to discuss the situation with the bank. U.S. Treasury Secretary Janet Yellen on Friday met with banking regulators on the collapse of SVB, as she and the White House expressed confidence in their abilities to respond to the bank failure. Reporting by Anirudh Saligrama in Bengaluru Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Rep. Ro Khanna on the deficit: Productive deficit spending is actually good
▼ + stars: | 2023-03-08 | 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 EmailRep. Ro Khanna on the deficit: Productive deficit spending is actually goodRep. Ro Khanna (D-Calif.) joins Brian Sullivan and 'Last Call' to discuss deficit spending as President Biden prepares to deliver his budget to Congress tomorrow.

☆ Noom quietly started writing prescriptions for trendy new weight-loss drugs
▼ + stars: | 2023-03-07 | by ( ) www.businessinsider.com time to read: +4 min

The popular weight-loss app Noom quietly launched a new program that offers some users access to prescription anti-obesity medications. Called Noom Clinical, the program is meant to "build additional support" for app users, a company spokesperson said in a statement to Insider. Startups like Noom want to capitalize on a surge in demand for new weight-loss drugsSaeju Jeong, Co-founder & CEO, Noom Piaras Ó Mídheach/Sportsfile for Web Summit via Getty Images)Noom's foray into prescribing medication comes as demand for weight-loss drugs surges. NoomNoom, which introduced its weight loss app in 2017, is backed by venture firm Oak HC/FT and private-equity giant Silver Lake. According to the spokesperson, Noom began rolling out the new prescription-drug program to a small number of users in the fall.

☆ Analyst discusses 'the problem with Coupang as a stock'
▼ + stars: | 2023-03-01 | 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 EmailAnalyst discusses 'the problem with Coupang as a stock'Seungjoo Ro of CLSA says e-commerce firm Coupang is "priced in as a growth stock, and we are wondering where that growth will come from."

☆ Senators unveil rail safety bill after Ohio train derailment
▼ + stars: | 2023-03-01 | by ( Liz Brown-Kaiser | Rose Horowitch | ) www.cnbc.com time to read: +2 min

A bipartisan group of senators will introduce legislation Wednesday aimed at preventing rail disasters after the devastating derailment in East Palestine last month. It would also require trained, two-person crews to work aboard every train carrying hazardous materials and levy heightened fines for rail carriers' wrongdoing. The Feb. 3 derailment of a Norfolk Southern train carrying vinyl chloride led to a spill of toxic chemicals. The bill will be introduced by Brown and his Republican counterpart, Sen. JD Vance, who represent the state where the Norfolk Southern derailment occurred. The Senate Environment and Public Works Committee on Tuesday asked Norfolk Southern CEO Alan Shaw to participate in an upcoming hearing.

☆ Shipping industry grapples with ways to cut cargo fires at sea
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 22 (Reuters) - Global shipping companies are exploring ways to boost safety in transporting cargoes as risks grow from fires erupting inside containers or in cars at sea, officials said on Wednesday. Shipping transports around 90% of world trade onboard different vessels including container and Ro-Ro ships with trade routes getting busier. "The main root cause for cargo fires on container ships is the integrity of dangerous goods throughout the supply chain. Therefore it is a problem that can only be improved through industry wide solutions," Maersk's Aslak Ross said separately in a statement. Reporting by Jonathan Saul Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

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