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In today's big story, turns out being a venture capitalist can be really hard, and some VCs want out . The big storyWe were promised big returnsiStock; Rebecca Zisser/InsiderFor venture capitalists, when the going gets tough, the tough get going…toward the exits. Some VC workers are reconsidering their future as the industry goes through a rough patch, writes Business Insider's Sri Muppidi. The ink was barely dry on a deal before startups were raising another round, doubling their VCs' investment (on paper) along the way. One Bay Area partner told Sri junior investors need to meet dozens of companies a week.
Persons: , Rebecca Zisser, It's, That's, VCs, dobi, Goldman Sachs, duMond, Chip Somodevilla, Alyssa Powell, Jamie Dimon, we're, Jamie, David Zalubowski, Chelsea Jia Feng, Meta's Instagram, Grzegorz Wajda, Elon Musk, Musk's X, he's, Grimes, Sam Altman, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, VCs, Tiger Global, Area, JPMorgan, YouTube, Dell, Getty, Elon, Federation, Global Alliance, Responsible Media, UK Prime, Democratic, Trump, Disney Locations: Patagonia, Dimon, Anaheim , California, North Carolina, Virginia, New York, London
On the agenda today:AdvertisementBut first: Job anxiety is gripping the once-cushy Big Tech industry . ReutersDispatchA Big Tech reckoningWondering what happened to the free lunches and merch in Big Tech? The acronym, which stands for Zero Interest Rate Phenomenon, has become Silicon Valley shorthand for a changed workplace. Whereas before Big Tech companies couldn't hire quick enough, now it's laser focused on reducing layers . AdvertisementBut amid increased competition, an end to cushy perks, and the risk that they might wake up one day to find their office badge no longer works, many working in Big Tech feel … well, a little less special .
Persons: Gen, Aki Ito, she'd, Gen Xers, David Vades Joseph, Rob Dobi, doomsayers, they're, Jake Epstein, Scott Stapp, Matt Turner, Dan DeFrancesco, Jordan Parker Erb Organizations: Business, Big Tech, Reuters, Microsoft, Meta, BI Boomers, US Navy, Navy, Phoenix Locations: Big Tech, Big, Red, New York
In today's big story, we're looking at what a hotter-than-expected inflation report means for markets and the econom y . That silver lining doesn’t address the elephant in the room: What does the latest CPI data mean for interest rates? AdvertisementMadison Hoff/Noah Sheidlower/Business InsiderThe hot inflation report comes just a few weeks after some industry experts felt the market was in a perfect position. Stubbornly elevated inflation means Powell might be less willing to cut rates and risk further fueling inflation. It’s particularly painful for smaller companies, which tend to carry floating-rate debt more susceptible to elevated interest rates.
Persons: , Angela Weiss, Insider’s Madison Hoff, BI’s Aruni Soni, Madison Hoff, Noah Sheidlower, we’ve, Jerome Powell, Powell, Jim Zelter, BI’s Yuheng Zhan, Alyssa Powell, Peter Thiel, bitcoin, Noah Berger Sam Altman’s, Jensen Huang, Altman's, Mark Zuckerberg, Jeff Bezos, Bezos, Rob Dobi, doomsayers, Brace, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Dow Jones, Bank of America, Apollo Global Management, Federal Reserve Bank of New, BlackRock, Strategic Investors Group, BI, Fund, Reuters, Apple Vision, BI Sky, Employees, Cisco Systems, Sony, McLaren Locations: Federal Reserve Bank of New York, Dubai, Miami, Washington, New York, London
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