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☆ How Utah's 'Silicon Slopes' tech sector is making a run at Silicon Valley
▼ + stars: | 2024-12-10 | by ( Dardan Pula | ) www.cnbc.com time to read: +6 min

At the heart of this transformation are companies like Adobe , which helped lay the groundwork for Silicon Slopes' rise. The tech-cluster has created fertile ground for other startups to grow in the Silicon Slopes ecosystem. "That was a seminal moment in the history of Silicon Slopes," he said. The city's leaders and entrepreneurs hope that the snowball effect will continue to roll down Silicon Slopes. "We're very proud of that sort of pioneer heritage that we have, particularly in building what is now the Silicon Slopes ecosystem," Sherman said.

Persons: Adobe SVP Wade Sherman, CNBC's Carl Quintanilla, Wade Sherman, Adobe's, Sherman, Brad Rencher, CNBC Rencher, Rencher, it's, It's, Catherine Wong, Entrata, —, Wong, haven't, Todd Pedersen, Adobe, Pedersen, " Pedersen Organizations: Adobe, Adobe SVP, CNBC, Oracle, Microsoft, Salt Lake, Blackstone Locations: Lake City, CNBC's, Salt, Lehi, Salt Lake City, Lehi , Utah, Silicon, Draper, Orem, Provo, Adobe's, Utah, Silicon Valley, North America, Silver

CNBC takes viewers on a deep dive into Salt Lake City's booming banking sector. The city's exceptional growth in finance can be traced back to an early catalyst: industrial banking. This little-known type of banking institution allows nonfinancial companies, such as car manufacturer BMW , to own its own bank. Utah is home to most of America's industrial banks, with 15 of the nation's 23 located in Salt Lake County — a concentration unmatched anywhere else in the country. Jason Kotter, a professor of finance at Brigham Young University, explains the role of industrial banks, how they function, and why they've been key to Salt Lake City's rise as a major financial powerhouse.

Persons: Jason Kotter, they've, CNBC's Carl Quintanilla, Ryan, Ashley Smith, Former Utah Governor Michael Leavitt, Wade Sherman, Larry Miller, Steve Starks, Goldman Sachs, John Waldron, Vivint, Todd Pedersen, Maven, Tessa Arneson, Rocky Donati, Entrata, Catherine Wong Organizations: CNBC, BMW, Brigham Young University, Smith Entertainment Group, Former Utah Governor, Adobe VP Locations: Salt, Utah, Salt Lake County, Salt Lake City

☆ A founding father of Utah's VC industry is stepping back as accusations of sexual harassment surface
▼ + stars: | 2024-07-17 | by ( Melia Russell | Rosalie Chan | ) www.businessinsider.com time to read: +22 min

Eyes closed, she listened as the Mercato Partners cofounder Greg Warnock stepped into the living room of his houseboat. Before starting Mercato, Warnock bought a large stake in a chemical-distribution business and made his first few millions in the acquisition. For an aspiring investor in Silicon Slopes, Mercato Partners seemed the place to be. They say the complaints from female Mercato employees are emblematic of religious and social norms that place women in the home. Mercato Partners no longer promotes Savory Fund or Prelude on its website following an organizational shake-up.

Persons: Powell, Elizabeth Moore, Greg Warnock, Moore, Warnock, Melia Russell, Jim Dreyfous, Paul Ahlstrom, Mercato, Emma Jackson, Elizabeth Moore's, Lake Powell, Mr, Staci, McCubbins, feely, David Bateman, Bateman's, Josh James, James, machismo, David McNew, Alan Hall, Jackson, wouldn't, Matthew Ashton, something's, massages, Melissa Walred, Walred, Greg, There's, gleeful Warnock, he'd untangle, Joe Kaiser, Ryan Sanders —, Savory, Warnock's, Davis Warnock, Davis, Victor Charlie, Larry H, TMRS, Staci McCubbins, Rosalie Chan Organizations: Mercato, Business, Lambda, Mercato Partners, BI, Opportunity, Thermal, vSpring, Beehive State, Getty, Pelion Venture Partners, Miller Company, Missouri State Employees, System, Nationwide Insurance, Family Insurance, Los, Employees, Association, Saudi Aramco, Google, Facebook Locations: Utah, Mercato, Lake, Coachella, Powell, Beehive, Silicon Slopes, Salt Lake City, Cottonwood Heights, Tibet, Missouri, Texas, Los Angeles, Saudi

☆ Women Who Work in Utah's Silicon Slopes Share Its Dark Side
▼ + stars: | 2023-10-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +17 min

During an interview for an engineering job at a Utah tech company, Trina Limpert was told she was a "risky hire." Insider spoke to 22 women who previously or currently work at Utah tech companies told Insider. Silicon Slopes, named for Utah's world-class ski slopes, is headquarters for tech companies like Ancestry, Domo, Entrata, Pluralsight, Qualtrics, and hosts outposts for others like Adobe and a Meta data-center. Many women — both Mormon and not — described their Utah tech companies as a Mormon boys' clubs. Ancestry, one of Utah's most established tech companies, hired former Facebook executive Deborah Liu as CEO in 2021.

Persons: Trina Limpert, Limpert, she's, she'd, Claudia Geist, It's, of Jesus Christ, Robyn Cohen, Michelle Kuo, Kuo, They're, —, Robbyn Scribner, Mike Pence, they're, Scribner, Susan Madsen, there's, harasser, I've, John Richards, Richards, " Richards, Emily Perkins, that's, Deborah Liu, Liu, Heather Friedland, Ashlee Davis, who've, we're, " Madsen Organizations: Computing Technology Industry Association, Tech, University of Utah, Google, Microsoft, Meta, Adobe, Brigham Young University, of Jesus, US Chamber of Commerce, American Community Survey, Salt Lake City Tribune, Utah State University, Ignition Ventures, NASDAQ Locations: Utah, Silicon Slopes, Silicon Valley, California, Washington, New York , Utah, Utah's, New York, JumpSearch, Silicon, Southern California, Salt Lake, There's, Seattle, Glassdoor, @rosaliechan

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