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☆ Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros -sources
▼ + stars: | 2023-01-26 | by ( Elvira Pollina | ) www.reuters.com time to read: +4 min

The sources said the 20 clubs that comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday. Serie A has been looking at options to extract more money from its media rights, which account for roughly half the revenues of its clubs. Like other European soccer leagues, Serie A lags England's Premier League in terms of income and is looking at ways to revive its global appeal. The sources said Serie A clubs learnt on Thursday that Apollo Global Management (APO.N) had also come forward, without providing further details. Prior to that meeting, clubs are due to discuss in mid-February the sale process of the media rights, which is expected to start later this year.

Insider asked more than 40 top fintech investors to nominate the most promising fintechs. Here are the 61 most promising fintechs. Insider surveyed 43 investors — including those from Bain Capital Ventures, Lightspeed Venture Partners, and QED Investors — about the most promising fintechs to watch. Global fintech funding dropped to $20.4 billion in the second quarter, falling 46% from last year, according to data from CB Insights. Check out the 61 fintechs identified as most promising by top investors.

☆ ChatGPT is coming for classrooms, hospitals, marketing departments, and everything else as the next great startup boom emerges
▼ + stars: | 2023-01-10 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

Entrepreneurs are encouraged to look at generative AI as a tool to solve a myriad of problems. This year will be the year new ways of using generative AI will thrive. Jasper competitor Copy.ai, which uses ChatGPT for marketing, raised $11 million in Series A in October 2021. Not all generative AI companies have longevity, and not all sectors have problems that generative AI can solve. For now, investors are confident their bets in generative AI will pay off, said Josh Constine, partner at Signal Fire.

☆ Google's most cutting-edge moonshot lab is refocusing on actually making money
▼ + stars: | 2023-01-10 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +5 min

I'm Matt Weinberger, deputy editor of Insider's tech analysis team, filling in for my colleague Diamond Naga Siu for the next few days. It's yet another sign that the tech industry is very different than it was even a year ago. A moonshot in the foot for Google: Insider's Hugh Langley reports that Google's X Development is scaling back from its pioneering, famously envelope-pushing roots as a tech research lab. Instead, it'll focus on initiatives that actually make money for Google and its parent company Alphabet. Read Insider's in-depth review of the newest model of the iPad Pro, released in late 2022.

☆ KKR's top tech exec details the firm's 3-year migration to the public cloud, and how the PE giant is leveraging the tech to streamline how deals get done
▼ + stars: | 2023-01-10 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

KKR is moving its technology and infrastructure to the public cloud by year end. The finish line is in sight for Emilia Sherifova, KKR's top tech exec who is spearheading the firm's multi-year migration to the public cloud. KKR's cloud migration has been years in the making. Under Sherifova, KKR has more than doubled its number of cloud-focused engineers, she said, declining to specify numbers. No longer are regulatory and security concerns barring finance players from moving mission-critical systems, like exchanges' matching engines and banks' core banking platforms, to the public cloud.

☆ Generative AI startups were already hot with VCs. ChatGPT poured gasoline onto the fire.
▼ + stars: | 2023-01-06 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

Generative AI firms, the category that ChatGPT falls under, saw big valuations in the past year. But even before the rise of ChatGPT, the space was buzzing as generative AI companies began raising large amounts of cash from venture capital. Startups using generative AI rose eyeball-popping amounts in the past year, especially during an overall bad year for VC investments. A hot market gets even hotterInvesting in generative AI and machine learning is nothing new for VCs. Defensibility is a key concern for generative AI startups that rely on OpenAI.

☆ With Bing and ChatGPT, Google is about to face competition in search for the first time in 20 years
▼ + stars: | 2023-01-06 | by ( Emilia David | ) www.businessinsider.com time to read: +6 min

Microsoft put $1 billion in OpenAI, which built ChatGPT, and plans to integrate ChatGPT into Bing. Many have said Google Search has stagnated, and competition from Bing and ChatGPT might change that. The Information reported Microsoft and ChatGPT creator OpenAI are working on integrating the technology into Microsoft's perpetually overlooked search site Bing. Bing has lost to Google search for over a decade, but with the integration of ChatGPT, Bing may offer the first compelling reason why people might want to switch from Google. The internet giant has its own language model called LaMDA, short for Language Model for Dialogue Applications.

☆ Microsoft's investment into ChatGPT's creator may be the smartest $1 billion ever spent
▼ + stars: | 2023-01-06 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Microsoft's $1 billion investment into OpenAI may be one of the shrewdest bets in tech history. OpenAI released AI bot ChatGPT and is in discussions to raise capital at a $30 billion valuation. "We believe Microsoft's investment in OpenAI will translate to significant underappreciated upside," Luria wrote. Investors may be souring on speculative tech but AI looks resilientThere is speculation that Microsoft may look to buy OpenAI. That suggests investors will still look to pile into the hottest AI companies, cementing the value of Microsoft's deal.

☆ The tech startup playbook to follow when money is tight
▼ + stars: | 2023-01-04 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Raising capital via venture debt will be key for many startups in 2023 PM Images/Getty Images1. This is the startup playbook to follow when money is tight. Instead of getting money from investors, they're taking out multiyear loans. But investors got scared in 2022 when the tech industry started to wobble. Odds and ends:The Volkswagen ID.7 electric sedan.

☆ Crypto had a catastrophic 2022. Here are 3 reasons it will bounce back again, according to analysts.
▼ + stars: | 2023-01-04 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

Analysts from Bernstein laid out why they're still bullish on the crypto space. But Bernstein analysts Gautam Chhugani and Manas Agarwal offer crypto true believers a few reasons to keep the faith. In a note published on January 3, they wrote that despite a catastrophic 2022, the larger crypto ecosystem still has potential. Much of the crypto space remains decentralized. Chhugani and Agarwal said FTX's collapse had hastened DeFi adoption, which makes DeFi a bright spot in crypto investing, according to crypto VCs.

☆ Bernstein analysts offer a cautious bull case for crypto recovery after a year from hell
▼ + stars: | 2023-01-04 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

Analysts from Bernstein laid out why they're still bullish on the crypto space. But Bernstein analysts Gautam Chhugani and Manas Agarwal offer crypto true believers a few reasons to keep the faith. Crypto keeps bouncing backThe past year was not the first "crypto winter," and crypto always bounced back fairly easily. Much of the crypto space remains decentralized. Chhugani and Agarwal said FTX's collapse had hastened DeFi adoption, which makes DeFi a bright spot in crypto investing, according to crypto VCs.

☆ Venture debt will be big for startups in 2023 — and could break the bad habits of the boom years
▼ + stars: | 2023-01-03 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

Investors say venture debt encourages founders to build rather than grow — and that's a good thing. Fundraising from venture capital is expected to slow in 2023 as the tech slowdown continues. From the third quarter of 2021 to the third quarter of 2022, startup funding from venture capital fell by 54%, to $74.5 billion from $164 billion, according to PitchBook. Without more traditional venture-capital funding, startups are increasingly turning toward venture debt, taking out three-year loans to raise capital. In their view, venture debt will break the bad habits of a generation of free-spending startups and create a new breed of companies focused on execution and market fit over blitzscaling or promising to change the world.

☆ These Wall Street analysts explain why they think tech is headed for a huge rebound in 2023 after the 'carnage' in the market this year
▼ + stars: | 2022-12-23 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

But analysts at Wedbush say tech will grow in 2023, with nowhere to go but up. But in a new note to clients, analysts at Wedbush say that amid the 'carnage' comes the opportunity for growth in 2023. Ives told Insider that the tech sector is well-positioned to thrive even amid a potential economic downturn. All the angst around valuations and macroeconomic conditions are already priced into tech stock prices, Ives suggests, meaning there's nowhere really to go but up. Whichever way 2023 shakes up, Ives thinks there's no reason to miss out on tech stocks next year.

☆ Taking out debt used to be a mark of shame in the startup world. Investors like Peter Thiel are helping make it cool.
▼ + stars: | 2022-12-23 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

InsiderPeter Thiel poured $250 million into Tacora Capital, which reflects a new interest in venture debt. Data from the startup tracker PitchBook showed that US venture debt reached $26.5 billion in value at the end of November. Startups can access venture debt through banks like Silicon Valley Bank or funds that specialize in the vehicle. Since those lenders deal with younger companies, venture-debt terms can be more flexible than traditional business loans. Traditional VC isn't going anywhereWhat the experts all agree on is that venture debt isn't going to replace the traditional venture-capital model anytime soon.

☆ Viral chatbot ChatGPT will be overhyped, then overlooked, and then, perhaps, essential
▼ + stars: | 2022-12-20 | by ( Emilia David | ) www.businessinsider.com time to read: +7 min

Emerging technology like ChatGPT is usually called overhyped until it becomes essential. ChatGPT lets users ask its bot questions or give it prompts using GPT-3, an impressive piece of natural-language-processing AI tech. ChatGPT and the Gartner Hype CycleIn layman's terms, ChatGPT is a chatbot using GPT-3, a state-of-the-art AI model that uses a massive amount of data to generate humanlike text. It's all very exciting and new, which is where the Gartner Hype Cycle, from the tech-research and consulting firm Gartner, comes in handy. To be sure, the rise of generative AI and more forms of ChatGPT aren't assured.

☆ Could ChatGPT challenge Google? Morgan Stanley says the search giant has nothing to worry about.
▼ + stars: | 2022-12-15 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

Morgan Stanley says the pessimistic case for Google is natural language search models like ChatGPT could swipe users that would otherwise use Google to find information. ChatGPT has a lot of catching up to meet the same number of users Google gets in a day. Morgan Stanley said the company is considered the leading tech giant in research and investment into the space, which will not change. For example, DeepMind, a Google-owned AI research lab, announced a new app called Dramatron that generates film scripts. What is becoming clear, Morgan Stanley said, is that the interest in ChatGPT will attract more money into AI.

☆ WeWork's market cap is now smaller than its much more straight-laced rival as the market adjusts to reality
▼ + stars: | 2022-12-14 | by ( Emilia David | ) www.businessinsider.com time to read: +3 min

WeWork cash flow is dwindling, and it plans to shutter more sites as it struggles to bounce back. Its market capitalization now stands lower than Regus, another flexible office space provider. This is a sign the market is rewarding careful management over rapid growth. WeWork's problems stand in sharp contrast to another company that offered flexible workspaces for decades before WeWork entered the market: Regus. But right now, its focus on fundamentals and not chasing growth at all costs means the market values it more than WeWork.

☆ Apple is going to keep cozying up to the Chinese government, no matter how much it says it's investing in America, India, and other countries
▼ + stars: | 2022-12-12 | by ( Emilia David | Asia Martin | ) www.businessinsider.com time to read: +6 min

Apple, which enjoys about 50% market share in the US and many other countries, still has room to run in China. Apple willing to play ball with China's governmentWhile pursuing the Chinese consumer, Apple has made concessions to the Chinese government. But in China, it offloaded iCloud servers to a Chinese state-owned company to comply with Chinese regulations. Popal said Huawei was the first Chinese brand to shake off the perception that Chinese phones were cheap. But with hundreds of millions of potential customers left to convert to iPhone users in China, Apple will absorb the hits.

☆ A blind couple and their baby were stopped from boarding two separate flights after an airline tried to make them pay for an escort
▼ + stars: | 2022-12-11 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

A blind couple and their one-year-old daughter were twice blocked from boarding planes in Greece. The family finally returned home to Iceland one week later than planned on their third attempt. He believes that the presence of his one-year-old daughter might have concerned the airline. The couple said that they intend to take legal action against Scandinavian Airlines. Scandinavian Airlines did not immediately respond to a request for comment from Insider.

☆ Apple is ready to leave China as COVID-19 protests delay iPhones past Christmas. That could take a decade and cost billions.
▼ + stars: | 2022-12-07 | by ( Emilia David | ) www.businessinsider.com time to read: +6 min

China's "zero COVID" policy has hit Apple's supply chain, causing delays on iPhone production. But any shift out of China won't be quick, with over 35% of the factories supplying Apple located in China. Some estimates say it will take until the end of the decade to move 10% of Apple's iPhone manufacturing out of the country. There are 28 Apple suppliers in Vietnam, or 3.8% of the total listed by Apple. Onshoring iPhone production?

☆ Cristina Fernández de Kirchner: Argentina's vice president sentenced to six years in prison for corruption, will not run for office
▼ + stars: | 2022-12-07 | by ( Sahar Akbarzai Emilia Delfino | Sahar Akbarzai | Emilia Delfino | ) edition.cnn.com time to read: +2 min

CNN —A court in Argentina on Tuesday sentenced the country’s vice president, Cristina Fernández de Kirchner, to six years in prison and disqualified her from holding public office again after finding her guilty of corruption during her earlier terms as President. Fernández de Kirchner has temporary immunity due to her current role so will not immediately go to jail, and can appeal. The former President awarded “80% of the national public road works in Santa Cruz in favor of Báez companies between 2003 and 2015,” according to Telam, Argentina’s state-run news agency. Baez was also sentenced to six years in prison, as were former secretary of public works, José López, and the former director of national roads, Néstor Periotti, for their involvement in the alleged scheme. Lopez and Periotti have also been disqualified from holding public office again, Telam reported.

☆ Russian regional deputies urge Putin to issue decree ending mobilisation
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +3 min

[1/2] Russian reservists recruited during the partial mobilisation of troops attend a ceremony before departing to the zone of Russia-Ukraine conflict, in the Rostov region, Russia October 31, 2022. The Kremlin said at the time that no formal decree to cancel the mobilisation was needed. Courts were siding with commanders, citing the fact that Putin's September mobilisation decree still had legal force. Reuters saw similar appeals from opposition deputies in the Moscow, St. Petersburg, Pskov and Veliky Novgorod regions. He said this was because the "legal lacuna" created by the absence of the decree "opens up opportunities for legal mayhem".

☆ Risk officers are the next hot hire for fintechs reaching consumers in new industries, VCs said. Startups are poaching from big companies to find them.
▼ + stars: | 2022-12-06 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

Risk officers don't just safeguard data: They take charge of many regulatory and technological issues in financial-services businesses. But only some fintech companies may benefit from thinking about hiring risk officers early. Large banks still dominate hiring for risk officers, but startups are gaining groundFintech startups want to hire risk officers, but they face a hurdle: There aren't enough risk professionals. But fintech startups have been attracting risk officers from banking giants for a while. Still, according to White, there are benefits to hiring risk officers for both types of companies.

☆ I quit my tech job in Seattle because I was miserable — here's how I moved to Los Angeles and started over as a freelancer and content creator
▼ + stars: | 2022-12-04 | by ( Dayana Sabatin | ) www.businessinsider.com time to read: +7 min

Dayana Sabatin was working in tech in Seattle and feeling miserable with her career. She decided to make a major life change — so she moved to Los Angeles without a clear plan. So I made a plan and left my life in Seattle behind to move there. Since then, I've made a life for myself in LA — I'm a writer, blogger and YouTuber — but getting here was a journey. My family felt blindsided by the news that I was moving.

☆ 11 VCs working in the payments space investing in the next wave of fintech darlings
▼ + stars: | 2022-12-01 | by ( Emilia David | ) www.businessinsider.com time to read: +2 min

Payments investments reached $3.9 billion in Q3 2022, a well-performing area despite VC pullback. VCs plan to continue to focus on the payments space as it gets more embedded in other industries. Here are 11 of the top investors in the space searching for the next fintech darling. Insider compiled a list of the top VCs investing in the space based on submissions from VC firms and data on their investing histories. Here are the 11 VCs who are bullish around payments and why they think it's going to gain traction soon, listed alphabetically:

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