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☆ 23andMe appoints three new board members following abrupt resignations
▼ + stars: | 2024-10-29 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

23andMe appointed three new independent directors to its board, the company announced Tuesday, one month after all seven of its previous directors abrubtly resigned. Fernandez, Frankola and Jensen will all serve on the board's audit committee and compensation committee, the company said. The company's stock was trading around $5 on Tuesday morning. To help 23andMe explore potential paths forward, the previous independent directors on the company's board formed a special committee in late March. In the weeks following the board members' departures, Wojcicki has repeatedly said she remains committed to taking the company private.

Persons: Anne Wojcicki, Kelly Sullivan, 23andMe, abrubtly, Andre Fernandez, Jim Frankola, Mark Jensen, Fernandez, Frankola, Jensen, Wojcicki Organizations: Deloitte, 23andMe Board, Company Locations: ATHERTON , CALIFORNIA, Atherton , California

☆ Lyft agrees to pay $2.1 million penalty after FTC says company made 'deceptive' claims about how much drivers can earn
▼ + stars: | 2024-10-26 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Lyft agreed to a proposed settlement that included a $2.1 million civil penalty. AdvertisementLyft has agreed to pay a $2.1 million civil penalty as part of a proposed settlement following a federal lawsuit, according to the Federal Trade Commission. Lyft agreed to a proposed settlement that included a $2.1 million civil penalty. Related stories"After productive discussions, we have agreed to pay the FTC $2.1 million USD to resolve their concerns. AdvertisementThe settlement requires Lyft to pay a $2.1 million civil penalty.

Persons: Lyft, —, Kelly Sullivan Organizations: US Department of Justice, Lyft, FTC, Service, Federal Trade Commission, Federal Trade, Drivers Locations: New Jersey

☆ Silicon Valley engineers joked you'd go to LinkedIn to retire. Then came the PIPs and layoffs.
▼ + stars: | 2024-01-12 | by ( Jyoti Mann | Grace Kay | ) www.businessinsider.com time to read: +12 min

"For years, there was a semi-joke that some people in Big Tech go to LinkedIn to retire," a current engineer told BI. Amid a transformative year for the social network, LinkedIn spokesperson Nicole Leverich said the company has continued to prioritize its employees. The golden days of growthSome LinkedIn workers like to reminisce about what one engineer called the "golden days." AdvertisementLinkedIn rates its workers on a scale of one to five, seven workers told BI. AdvertisementA current engineering manager added that the goalposts for performance reviews had shifted.

Persons: —, Satya Nadella, we've, It's, Nicole Leverich, Leverich, you'd, Mohak Shroff, ChatGPT, We're, Ryan Roslansky, Kelly Sullivan, he'd, hadn't, Roslanksy, Brian Wieser Organizations: Service, LinkedIn, Business, BI, Microsoft, Big Tech, Google Locations: Big, Madison

☆ The wildest moments of WeWork’s rise
▼ + stars: | 2023-11-11 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

And many early WeWork employees, who worked at lower salaries because they were given stock options, ended up with nothing. WeWork’s wild rise and fall is the latest high-profile incident to shatter that myth. Here is a look at four of the wildest moments from WeWork’s rise, according to the company’s statements and a best-seller about the company. (Part of WeWork’s push to appeal to millennials included free-flowing beer and open bars set up within its coworking outposts.) That pre-IPO paperworkThe beginning of the end can perhaps be traced back to WeWork’s first attempt to go public back in 2019.

Persons: New York CNN — WeWork, Adam Neumann’s, Neumann, Son, Adam Neumann, Kelly Sullivan, Eliot Brown, Maureen Farrell, millennials, Darryl McDaniels, Mike Segar, ”, Rebekah, WeWork, Caitlin Ochs, WeWork’s, Neuman, Mark Lennihan, “, Tolga Akmen Organizations: New, New York CNN, WeWork, San Francisco, of Fine Arts, Gulfstream G650, Wall Street Journal, Bloomberg, Getty, Nasdaq, City of Locations: New York, San, San Francisco , California, Israel, Manhattan , New York, WeGrow, WeLive, New York City, U.S, City, City of London, AFP

In this article HJPM Follow your favorite stocks CREATE FREE ACCOUNTA mugshot of Jeffrey Epstein released by the U.S. Justice Department. The subpoenas demand communications and documents related to the bank and Epstein, The Journal noted. The bank earlier this month sued former JPMorgan investment banking chief Jes Staley, claiming he is responsible for the suits related to Epstein. A lawyer for the Virgin Islands earlier this month said in court that Dimon knew in 2008 that Epstein was a sex trafficker. That was the year that Epstein first was hit with sex crime charges in state court in Florida.

☆ Emerging venture fund managers had few banking options to begin with. After Silicon Valley Bank's collapse, where do they turn now?
▼ + stars: | 2023-03-22 | by ( Melia Russell | Vishal Persaud | ) www.businessinsider.com time to read: +10 min

Silicon Valley Bank had long banked a class of startup investors known as emerging managers. He was able to quickly switch from Silicon Valley Bank with an email to his contact at AngelList. Novak is part of a contingent of investors who are shifting their banking strategy in the fallout of Silicon Valley Bank's failure. After Silicon Valley Bank's demise, the big banks have gotten more selective, the three investors said. The big banks like JPMorgan set account minimums for its private banking group, locking out emerging fund managers.

☆ The career rise, fall, and return of Adam Neumann, the controversial WeWork cofounder who is back with another real-estate startup
▼ + stars: | 2022-08-16 | by ( Britney Nguyen | ) www.businessinsider.com time to read: 1 min

The IPO filing gave the public its best view yet at the company's money-losing financials: notably, $1.6 billion in losses on $1.8 billion in revenue in 2018. The following year that loss increased to $890 million on $886 million in revenue. And for the full year 2018, WeWork lost $1.6 billion on $1.8 billion in revenue. For the first six months of 2019, the firm posted a loss of $690 million on $1.5 billion in revenue. We Co. will be the most highly valued startup to go public since Uber in May."

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