DIRS.INFO The most relevant business & tech news

The easiest trade of the year is fizzling, and the lost momentum is keeping investors' money out. Interviews with a dozen more small investors showed the sentiment to be reasonably widespread. Brokerage account creation, while volatile, likewise dropped off in April after promising momentum in February and March, China Securities Depository and Clearing data showed. "It is as if stocks are losing faith in the China recovery story," said Grow Investment Group chief economist Hong Hao. China's April industrial output and retail sales growth undershot forecasts as the recovery turned wobbly.

Persons: Eric Yu, Yi Huiman, Hong Hao, Wang Zaizheng, Chi Lo, Hayden Briscoe, Meng, Jason Xue, Winni Zhou, Tom Westbrook, Shri Navaratnam Organizations: China Securities Regulatory, JPMorgan, China Securities Depository, Mutual, Grow Investment Group, Management, UBS Asset Management, Thomson Locations: SHANGHAI, SINGAPORE, China's, Shanghai, China, United States, Hong Kong, Asia, Pacific, Singapore

☆ The average startup CEO now makes $142,000 — down from $150,000 last year
▼ + stars: | 2023-05-22 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

CEOs of early-stage startups now make, on average, $142,000 — down from $150,000 last year, WSJ reports. CEOs in crypto, e-commerce, and direct-to-consumer industries are most impacted by the pay cuts. In the first quarter of 2023, global venture funding reached $58.6 billion — a 13% drop from the same quarter last year, according to a report from CB Insights, a research firm. CEOs on the losing end of the funding spectrum will feel the brunt of the pay cuts. The consulting firm's findings on salary cuts come as CEOs across major corporations are taking pay cuts this year.

☆ PDD, Shein, Binance: These hugely successful companies were born in China. They don't want you to know that
▼ + stars: | 2023-05-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +10 min

Hong Kong CNN —Binance, the world’s largest cryptocurrency exchange, doesn’t want to be called a Chinese company. “Our opposition in the West bends over backward to paint us as a ‘Chinese company,’” he wrote in a blog post last September. Zhao has been vocal about how he feels his firm is misrepresented as a "Chinese company." The same concern could, in theory, apply to any Chinese company. TikTok CEO Shou Chew testifying before US Congress in March.

☆ Google employees complain about CEO Sundar Pichai's pay raise as cost cuts hit rest of the company
▼ + stars: | 2023-05-03 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. (Photo by Anna Moneymaker/Getty Images)Google CEO Sundar Pichai received a hefty pay raise last year, making him one of the highest-paid CEOs in America. SEC filings showed Pichai was paid a total of $226 million last year, mostly through $218 million in stock awards. Twilio CEO Jeff Lawson said he'd also be taking a pay cut amid a 17% workforce reduction. At an all-hands meeting, employees asked Pichai why executives are getting pay cuts if he's taking responsibility.

☆ 2023 layoff tracker: The latest on which companies have announced job cuts
▼ + stars: | 2023-04-25 | by ( Jennifer Korn | ) edition.cnn.com time to read: +20 min

New York CNN —BuzzFeed, Lyft, Whole Foods and Deloitte all recently announced layoffs affecting thousands of US workers. With 11,000 job cuts announced in November and the 10,000 announced in March, Meta’s headcount will fall to around 66,000 — a total reduction of about 25%. The company announced in January that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. IndeedJob listing website Indeed.com announced cuts of approximately 2,200 employees, representing almost 15% of its total workforce, the company said in March. The cuts come after the company announced several rounds of job cuts throughout the pandemic due to falling demand, followed by rapid hiring last year.

☆ Zoom fires its president, a former Google employee, after only 10 months
▼ + stars: | 2023-03-03 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Zoom has fired its president, Greg Tomb, just 10 months after he joined. Before his stint at Zoom, Tomb worked as Google's vice president of sales. Zoom said in a filing with the Securities and Exchange Commission (SEC) that Tomb's termination was effective as of Friday. Tomb's LinkedIn profile shows he joined Zoom as president in June 2022. Tomb's termination comes after Zoom announced in early February it was laying off about 1,300 employees — 15% of its workforce.

☆ Zoom jumps on AI bandwagon, forecasts upbeat 2024 profit targets
▼ + stars: | 2023-02-27 | by ( Tiyashi Datta | ) www.reuters.com time to read: +2 min

Analysts predict the AI tech will be a major driver for future growth for the tech industry, which has been grappling with slowing demand amid recessionary fears. San Jose, California-based Zoom forecast fiscal 2024 profit between $4.11 and $4.18 per share, compared with analysts' average estimate of $3.66 per share, according to Refinitiv data. On an adjusted basis, Zoom earned $1.22 per share for the fourth quarter ended Jan. 31, compared with estimates of 81 cents per share. Revenue grew 4% to $1.12 billion, above analysts' average expectation of $1.10 billion. The company, however, expects 2024 revenue between $4.44 billion and $4.46 billion, below average Street estimate of $4.60 billion.

☆ Stocks making the biggest moves after hours: Zoom Video, Occidental Petroleum, Workday and more
▼ + stars: | 2023-02-27 | by ( ) www.cnbc.com time to read: +1 min

Eric Yuan, founder and CEO of Zoom Video Communications, stands before the opening bell during the company's initial public offering at the Nasdaq MarketSite in New York on April 18, 2019. First-quarter earnings per share guidance came in above expectations, according to Refinitiv. The energy giant missed analysts' expectations for fourth-quarter earnings and revenue, according to Refinitiv. Workday — Workday's stock fell 1% even after the human resources software company beat Wall Street's fourth-quarter revenue and earnings expectations, according to Refinitv. Hims & Hers posted a smaller-than-expected loss for the fourth quarter and revenue that came in slightly above Wall Street's expectations, according to Refinitiv.

☆ Zoom shares jump on better-than-expected fourth-quarter results
▼ + stars: | 2023-02-27 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Zoom shares climbed almost 7% in extended trading on Monday after the video chat company reported fiscal fourth-quarter results that exceeded analysts' estimates and offered optimistic earnings guidance for the year. Here's how the company did:Earnings: $1.22 per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. $1.22 per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. Zoom sees between $4.435 billion to $4.455 billion in revenue, implying 1.1% growth, while analysts were expecting sales of $4.6 billion. During the fiscal fourth quarter, Zoom said it would introduce email and calendar services, along with a virtual agent chatbot for handling customer service inquiries.

☆ I coach CEOs and NFL officials and what sets them apart is their obsession with improvement
▼ + stars: | 2023-02-18 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +4 min

Duane Carlisle trains CEOs and NFL officials. He is a former coach for the San Francisco 49ers. He's the former head strength-and-conditioning coach for the San Francisco 49ers. His clients, many of whom require him to sign nondisclosure agreements, include leaders such as Sasan Goodarzi, the CEO of Intuit. I work with CEOs, high-profile executives, and NFL officials as a high-performance coach.

☆ Premarket stocks: Here's what keeps Jerome Powell up at night and interest rates high
▼ + stars: | 2023-02-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Structural changes in the labor market: The US economy added an astonishing 517,000 jobs in January, blowing economists’ expectations out of the water. “The labor market is extraordinarily strong,” he said. Core services inflation: Powell noted that he’s seeing disinflation in the goods sector and expects to soon see declining inflation in housing. Service-sector inflation, which is more sensitive to a strong labor market, is up 7.5% from the year prior through the end of 2022, and has not abated, he said. Tech layoffs, Big Oil and soft landings: What investors are watching▸ The labor market is strong, but tech layoffs keep coming.

☆ Zoom's CEO will take a $10,000 salary this year, a 98% pay cut, after laying off 1,300 workers because of 'mistakes' he made growing the company
▼ + stars: | 2023-02-08 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Zoom CEO Eric Yuan is taking a pay cut of 98%, and will earn just $10,000 in salary this year. This would bring Yuan's salary down to $10,000, Zoom wrote in a regulatory filing. Yuan wrote in the email that other members of the executive leadership team would reduce their base salaries by 20% in the coming year and forfeit their corporate bonuses. "Within 24 months, Zoom grew 3x in size to manage this demand while enabling continued innovation," Yuan wrote. Zoom said in its filing that the layoffs and resultant restructuring would cost it between $50 million and $68 million.

☆ Zoom to Lay Off 15% of Staff, CEO Slashes Salary
▼ + stars: | 2023-02-07 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Zoom Video Communications Inc. is laying off 1,300 of its employees, or 15%, of its staff, becoming the latest technology company to trim its workforce as it adjusts to more normalized trends after a pandemic-fueled growth spurt. Chief Executive Eric Yuan said Tuesday he was also reducing his salary and foregoing his bonus, joining other corporate leaders across finance and tech to take pay cuts this year. He made just over $300,000 in salary for the fiscal year ended Jan. 31, 2022, and about $13,000 as part of a non-equity bonus plan.

☆ Zoom to shed about 1,300 jobs as pandemic-fueled demand slows
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Zoom Video Communications (ZM.O) said on Tuesday it would cut 15% of its workforce, or about 1,300 jobs, and trim base pay for its executive leadership as pandemic-fueled demand for the company's video conferencing services slows. Announcing the layoffs, Chief Executive Eric Yuan also said that he will take a salary cut of 98% for the coming fiscal year, foregoing his fiscal 2023 corporate bonus. Zoom had bumped up hiring during the pandemic to meet surging demand, but now joins U.S. companies is reining in costs to brace for a potential recession. The video conferencing software maker also said that its executive leadership team will reduce their base salary by 20% in the same period. Departing employees will receive 16 weeks of salary, healthcare coverage and annual bonus for the year, Yuan added.

☆ Zoom to lay off 1,300 employees, or about 15% of its workforce
▼ + stars: | 2023-02-07 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Zoom on Tuesday announced plans to cut about 1,300 workers, or 15% of its workforce, according to a blog post on the company's website. Shares of Zoom were up 7% in afternoon trading. Yuan said the cuts will impact every organization across Zoom, and employees who are laid off will be offered up to 16 weeks of salary and health-care coverage. The company's layoff announcement marks the latest round of job cuts in the tech industry, as Dell on Monday announced plans to cut 6,650 jobs. In January, Google revealed plans to lay off more than 12,000 workers, Microsoft disclosed plans to cut 10,000 employees and Salesforce announced plans to lay off 7,000 workers.

☆ Meet the VC firms that want to help immigrants found their own startups so they keep their talents in the US
▼ + stars: | 2022-12-28 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +3 min

Immigrants play a vital role in the US tech industry, and many have founded successful companies. These VC firms and startup incubators can help immigrants on work visas found companies. But that opportunity simply isn't available to a certain key class of tech worker: The immigrants who are in the US on work visas like the H-1B. H-1B visas are sponsored by the holder's employer, meaning that if they lose their job — either voluntarily or as part of a layoff — they generally have to return to their home country within 60 days. Insider spoke with four firms that focus on investing in immigrant founders, which represent a mix of VC firms and startup incubators, about how to pitch them and which types of resources they could provide.

Founders in their 20s get a lot of media attention, but research suggests most founders are older. But the data on successful entrepreneurs says otherwise: The average age of business founders is around 40 years old, according to research by Pierre Azoulay, a professor at the Massachusetts Institute of Technology. And a 50-year-old founder is approximately twice as likely to experience a successful exit, meaning the startup is acquired or goes public, compared with a founder at age 30, according to Azoulay's analysis of 2.7 million founders between 2007 and 2014. What's more, the average age of a unicorn founder is 34, according to venture capital partner Ali Tamaseb's 2021 book Super Founders: What Data Reveals About Billion-Dollar Startups. Here are other successful people who found success later in life.

☆ Zoom shares down 90% from peak as pandemic boom fades
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Shares of Zoom Video Communications Inc (ZM.O) have tumbled about 90% from their pandemic peak in October 2020 as the former investor darling struggles to adjust to a post-COVID world. The stock was down 9% in premarket trading on Tuesday after the company cut its annual sales forecast and posted its slowest quarterly growth, prompting at least six brokerages to cut their price targets. Reuters Graphics"Zoom has a fundamental flaw - it has needed to spend heavily to keep hold of market share. Spending to cling onto, rather than grow, market share is never a good place to be and was a sign of trouble ahead," Hargreaves Lansdown equity analyst Sophie Lund-Yates said. Competition from Microsoft's Teams and Salesforce's Slack has blunt its edgeReporting by Chavi Mehta and Aditya Soni in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Zoom cuts annual revenue forecast as video-conferencing service demand wanes
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - Zoom Video Communications Inc (ZM.O) on Monday lowered its annual revenue forecast amid waning demand for the video conferencing platform as pandemic restrictions ease and competition amps up. After recording blistering growth during the pandemic, Zoom, which competes with WeChat Work, Microsoft Teams (MSFT.O), Cisco (CSCO.O) WebEx and Slack, is facing a slowdown as red-hot inflation is dampening the spending power of customers. Zoom now expects annual revenue to be between $4.37 billion and $4.38 billion, compared with an earlier outlook of $4.39 billion and $4.40 billion. The company, however, raised its annual adjusted profit per share to between $3.91 and $3.94, compared with $3.66 to $3.69 forecast earlier. On an adjusted basis, the company earned $1.07 per share during the quarter, compared with estimates of 84 cents per share, according to Refinitiv data.

☆ Zoom shares drop on light forecast as company faces 'heightened deal scrutiny'
▼ + stars: | 2022-11-21 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Zoom shares slumped more than 7% in extended trading on Monday after the video-chat company issued weaker-than-expected revenue guidance for its full fiscal year. Here's how the company did:Earnings: $1.07 per share, adjusted, vs. 84 cents per share as expected by analysts, according to Refinitiv. Revenue: $1.10 billion, vs. $1.10 billion as expected by analysts, according to Refinitiv. The company is seeing "heightened deal scrutiny for new business," CEO Eric Yuan said during the earnings call. Zoom lowered revenue guidance, mainly because of the strengthening U.S. dollar.

☆ Goldman Sachs' humbling U-turn on its consumer banking ambitions
▼ + stars: | 2022-10-19 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

Third-quarter results from the big Wall Street banks are now behind us, and they were … pretty good, all things considered? Goldman Sachs reported yesterday, and while it may not be the biggest nor the best bank (OK, No. Trading and dealmaking made the reputation of the 153-year-old Wall Street firm, but the spotlight lately has been on its struggling consumer banking unit, Marcus. The consumer business "doesn't make money at the moment," Solomon acknowledged, but he added: "The deposits are hugely valuable. From Wall Street darlings to prey.

☆ The female venture capitalist creating billions in a new world of work beyond the office
▼ + stars: | 2022-10-15 | by ( Rebecca Fannin | ) www.cnbc.com time to read: +11 min

Worklife Ventures holds weekly meetings for its portfolio company founders to seek advice from successful Silicon Valley operators. You have to have an eye out for people and for new tools," Kimmel said. Worklife Ventures is betting on good returns from its 50 investments in startups, and with nine of them as unicorns, the stakes are high. With venture funds typically having a 10-year life cycle before investment returns are tallied, Worklife Ventures still has a ways to go. Join us October 25 - 26, 2022 for the CNBC Work Summit — Dislocation, Negotiation, and Determination: The World of Work Right Now.

☆ A lack of transparency creates a 'breeding ground of insecurity,' according to one tech CEO
▼ + stars: | 2021-03-15 | by ( May Teng | ) www.businessinsider.com time to read: +6 min

TVSquared CEO Calum Smeaton has centered his leadership around transparency, and it's paid off. It's crucial to communicate often and maintain transparency even as a company grows, Smeaton says. Calum Smeaton, founder and CEO of UK-based adtech company TVSquared, is one of many leaders who has decided to squarely center their paradigm on transparency. "If you're not transparent, that's where you create a breeding ground for insecurity." "Transparency is really easy when you're 10 or 15 people all in the same office," Smeaton added.

Și pentru că în pandemie, munca, întâlnirile și cursurile online au explodat, Eric Yuan, fondatorul Zoom, a urcat și el la o avere colosală, aproximativ 15 miliarde de dolari, scrie digi24.ro. O mulţime de utilizatori noi din întreaga lume. „Am construit în peste 20 de ani 840 miliarde de dolari, avere pentru alţi oameni. Cred puternic în capacitatea capitalismului şi a pieţelor libere de a rezolva multe din problemele lumii”, a spus și Jeff Bezos. Averile celor mai avuți 500 de oameni din întreaga lume au crescut cu 31% în pandemie și au ajuns la colosala sumă de 7.600 de miliarde de dolari.

Persons: Eric Yuan, Jeff Bezos Organizations: Emmy Award

☆ Miliardarii lumii continuă să se îmbogățească în pandemie; Averea lor a ajuns la o sumă colosală
▼ + stars: | 2021-01-03 | by ( ) www.jurnal.md time to read: 1 min

Și pentru că în pandemie, munca, întâlnirile și cursurile online au explodat, Eric Yuan, fondatorul Zoom, a urcat și el la o avere colosală, aproximativ 15 miliarde de dolari. O mulţime de utilizatori noi din întreaga lume. Este folosit de şcoli pentru cursuri, pentru orele de dans, folosit la Emmy Award, la show-uri, precum Saturday Night Live”, a declarat Eric Yuan, fondatorul Zoom. Cred puternic în capacitatea capitalismului şi a pieţelor libere de a rezolva multe din problemele lumii”, a spus și Jeff Bezos. Averile celor mai avuți 500 de oameni din întreaga lume au crescut cu 31% în pandemie și au ajuns la colosala sumă de 7.600 de miliarde de dolari.

Persons: Eric Yuan, Jeff Bezos Organizations: Emmy Award

Search resuls for: "Eric Yu"

25 mentions found