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☆ Techies on a plane celebrated after hearing a passenger whoop at the news SVB customers would get their money, VC says
▼ + stars: | 2023-03-17 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

Investor Prashant Fonseka was on a flight when he learned that SVB depositors' money was safe. Fonseka told Insider he heard other people on the plane celebrating with relief at the news. He told Insider he spent Friday and Saturday trying to calm the founders of his portfolio companies. Prior to boarding his flight, Fonseka was on the phone trying to confirm the amount of SVB's advanced dividend, or how much money would be guaranteed to be made available to the bank's customers. "Before, we thought we were going to die — like extinction-level fear about people's companies," Fonseka told Insider.

☆ Two big Silicon Valley banks failed when the easy money ran out - and that could be just the start.
▼ + stars: | 2023-03-13 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +7 min

Before we jump into the newsletter, the Silicon Valley Bank saga is continuing to unfold, so let's quickly break down the latest. "No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," policymakers added. The fall of SVB and Signature bank means the Fed's aggressive interest-rate hiking regime has now taken sizable casualties. A $15 billion venture capital firm had warned its startups of Silicon Valley Bank's red flags months ago. Greenoaks Capital Partners told clients in an email back in November that SVB, as well as other firms, could see problems in a high-interest-rate environment, Bloomberg reported.

☆ We're looking for stocks to buy for the Club now that regulators saved SVB depositors
▼ + stars: | 2023-03-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

You can't just wipe out a bank and about $170 billion in SVB deposits and expect to see business as normal in the country. If you are a depositor, let's just say you aren't going to be so foolish as to concentrate your deposits going forward. But it did have a very low retail share of deposits, like SVB, so perhaps that may have had something to do with it. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Salesforce: A New Dawn. CEO Marc Benioff is pivoting the cloud company from family to profitability.
▼ + stars: | 2023-03-02 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I'm Diamond Naga Siu, and I'm not just talking about the Selena/Hailey 'mean girls' saga — I'm fascinated by the Salesforce spectacle. CEO Marc Benioff recently oversaw the departure of two leading candidates to inherit the Salesforce throne. Now, under their careful watch, Benioff needs to guide the company through a cost-cutting period — something he's never done before. This is quite the turn, considering he was still emphasizing Ohana after laying off 10% of the company in January. CEO Marc Benioff announced on Wednesday that the company is starting a "new day."

☆ Tech’s meltdown has also erased the dream job for Gen Z.
▼ + stars: | 2023-02-14 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

While maybe I should dream bigger, keeping expectations low could also be a good thing — people shouldn't dream of labor. And that's a wake up call for many Gen Z workers who once aspired to work in Big Tech. Gen Z says goodbye to dream tech jobs. Several top-ranked engineering schools told my colleague Aki Ito that Big Tech companies have been noticeably absent at career fairs since September. Aki breaks down the crumbling Gen Z dream-job and what that means for the tech industry.

☆ Premarket stocks: Wall Street kills its darlings
▼ + stars: | 2022-12-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

It appears that Wall Street has also caught on to the concept. Investors are rushing to kill their darlings – er, sell their stocks– and even safe-havens like Apple (AAPL) and Intel (INTC) are getting crushed in the stampede. What’s happening: It’s been a shaky year full of economic uncertainty, geopolitical chaos, elevated inflation and a hawkish Fed. But what’s been most surprising is that market-cap titans, traditionally expected to weather storms on Wall Street well, haven’t held up against the rising macroeconomic tides. EY Parthenon projects that consumer spending will flatline in 2023 after growing 2.7% this year.

☆ Offset says he’s ‘shattered’ following death of former bandmate Takeoff
▼ + stars: | 2022-11-15 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Offset has broken his social media silence about the death of Takeoff, a fellow member of platinum-selling rap group Migos. Takeoff, along with his uncle Quavo and cousin Offset, had been members of the rap trio. Offset spoke emotionally at Takeoff’s recent memorial, held at State Farm Arena in Atlanta, but it was not televised. Offset wrote that he wished he could hug Takeoff “one last time” and “laugh one last time. Perform one last time.”“I know someone with a soul like yours is in heaven now,” Offset wrote.

CNN —Houston officials vowed to deliver justice in the killing of rapper Takeoff, with the chief of police calling the 28-year-old Atlantan a “peaceful” man and urging any witnesses to the shooting to come forward. There were roughly 40 people at the event, many of whom left “possibly out of fear,” Houston Police Chief Troy Finner said. “This great city, with our great citizens, with our police department – we will find who’s responsible for it. Finner was clear, however, that investigators do not believe Takeoff was “involved in anything criminal at the time,” he said. Rap star was on an upward trajectoryThe news of Takeoff’s death was a blow to the hip-hop community, still reeling from the fatal shooting of rapper PnB Rock in September.

CNN —Takeoff, who was one third of the platinum-selling rap group Migos, was shot and killed early Tuesday in Houston, Texas, a source close to the group confirmed to CNN. According to authorities, police were informed that a private party had been held at the venue prior to the shooting. Born in Lawrenceville, Georgia, Takeoff began performing with his uncle and fellow rapper Quavo, along with Offset, as Migos in 2008. “I really wanna thank the Migos, not for being in the show, but for making ‘Bad and Boujee,’” Glover said at the time. It’s time to give me my flowers, you know what I mean?, Takeoff said.

☆ Why tomorrow’s big jobs report has global implications
▼ + stars: | 2022-10-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Seems counter-intuitive, but the Fed (and much of Wall Street) is actually rooting for that number to go down. Here’s the thing: Before the pandemic and its whiplash-inducing economic rebound, the US economy averaged about 200,000 new jobs each month. In the last jobs report, wages were up 5.2% over the last 12 months. GRIM PROGNOSIS(CNN Business) Peloton announced yet another round of layoffs — its fourth round of cuts this year — as its new CEO attempts to shore up the company’s bottom line. And if it fails, McCarthy told The Wall Street Journal, Peloton likely isn’t viable as a stand-alone company.

☆ Apple's new AirPods Pro are worth the $249 even if you already own the older version
▼ + stars: | 2022-09-22 | by ( Sofia Pitt | ) www.cnbc.com time to read: +7 min

Sofia PittTransparency mode is actually transparentWhen you're using your AirPods Pro and you're not in noise cancellation mode, you're in what Apple calls transparency mode. There's a built-in speaker in the new AirPods Pro that plays a sound so you can locate your lost AirPods. Audio quality is superiorThe new AirPods Pro have superior audio for a few reasons. I don't have a single bad thing to say about the new AirPods Pro. When I was too lazy to dig through my bag and get my new AirPods Pro, I listened to an audiobook with the older AirPods.

☆ Jeff Bezos hired this Amazon applicant ‘on the spot’—here are the 2 interview questions he asked
▼ + stars: | 2021-11-02 | by ( Ann Hiatt | ) www.cnbc.com time to read: +4 min

People always want to know how I got Jeff Bezos to take a chance and hire me to work directly for him at Amazon in 2002 . One interview took place in a dark office with just the glow of a code-filled monitor and a weird multicolored rotating nightlight in the corner. Bezos started the interview by promising that he was only going to ask two questions and that the first one would be a "fun" brainteaser. Knowing Bezos as well as I do now, I see why those were his only two questions. By the end of the interview, we both knew I would do anything to be successful, despite being a very junior candidate.

Persons: Jeff Bezos, Bezos Organizations: Amazon Locations: Redmond , Washington, Bezos, Seattle

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