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August 8, 2022

venture capital

SoftBank posts a $21.6 billion quarterly loss on its Vision Fund, one of the highest in its history

CNBC
CNBC – For more and to sign up click here SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg......

Facebook’s former CTO Mike Schroepfer explains why he’s turning his attention to climate change

CNBC
CNBC – For more and to sign up click here Mike Schroepfer, chief technology officer of Facebook Inc., listens during the Wall Street Journal Tech Live global technology conference in Laguna Beach, California, U.S., on Monday, Oct. 21, 2019. The event brings together investors, founders, and executives to foster innovation......

PayPal veteran Jim Magats is named CEO of MX, the startup that connects banks and fintech players

CNBC
CNBC – For more and to sign up click here Jim Magats, former PayPal executive who is being named CEO of the startup MX Photo: Tom Cook MX, the startup competing against Plaid to help connect financial institutions and fintech players, is naming PayPal executive Jim Magats its new CEO,......

JPMorgan hires scientist Charles Lim to help protect financial system from quantum-supremacy threat

CNBC
CNBC – For more and to sign up click here Dr. Charles Lim, Global Head of Quantum Communications and Cryptography, JP Morgan Chase Courtesy: JP Morgan Chase JPMorgan Chase has hired a Singapore-based quantum-computing expert to be the bank’s global head for quantum communications and cryptography, according to a memo......

Sesame Solar is selling mobile disaster relief units powered entirely by clean energy

CNBC
CNBC – For more and to sign up click here Michigan-based startup Sesame Solar is producing what it deems the world’s first fully-renewable mobile nanogrid for natural disaster relief. Its units can be used as mobile communications and command centers, medical units, kitchens and even temporary housing. The systems can......

Tesla is under scrutiny by the federal agency that enforces workplace civil rights laws

CNBC
CNBC – For more and to sign up click here Signage is displayed on the Tesla Inc. assembly plant in Fremont, California, on Tuesday, Sept. 22, 2020. David Paul Morris | Bloomberg | Getty Images A federal agency responsible for enforcing civil rights laws against workplace discrimination issued a cause......

Fifth Wall closes half-billion-dollar climate fund to decarbonize global real estate

CNBC Real Estate
Fifth Wall, a venture capital firm focused on real estate technology, is tripling down on its bet that climate tech will become an integral driver in the real estate space. It just announced commitments of half a billion dollars to close its inaugural Climate Fund, which launched with $116 million......

Goldman-backed digital bank Starling reports its first annual profit as other fintechs stumble

CNBC
CNBC – For more and to sign up click here The Starling Bank banking app on a smartphone. Adrian Dennis | AFP via Getty Images British digital bank Starling on Thursday reported its debut annual profit as revenues at the firm almost doubled. The lender swung to a pre-tax profit......

Here’s how you can recession-proof your career, according to one CEO

CNBC
CNBC – For more and to sign up click here 1. Diversify revenue streams Don’t rely on just one way of making money — that’s the “best anti-crisis strategy,” according to Volodarsky. “Ideally, look for gigs in different verticals, geographies, and skill sets to diversify your income portfolio and minimize......

Elon Musk asks court to reject Twitter’s request for speedy trial

CNBC
CNBC – For more and to sign up click here “The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet,” Tesla CEO Elon Musk said. Patrick T. Fallon | Reuters Elon Musk wants time to......

Richard Branson takes a stake in Lightyear, a start-up hoping to become Europe’s answer to Robinhood

CNBC
CNBC – For more and to sign up click here The Lightyear app. Lightyear Lightyear, a European challenger to trading platform Robinhood, has raised $25 million of funding in an investment round backed by British billionaire Richard Branson. Silicon Valley’s Lightspeed Venture Partners led the deal, the company told CNBC......

Tesla AI leader Andrej Karpathy announces he’s leaving the company

CNBC
CNBC – For more and to sign up click here A Tesla Model S car equipped with Autopilot David Paul Morris | Bloomberg | Getty Images Tesla AI leader Andrej Karpathy announced on Twitter Wednesday that he is no longer working for the electric vehicle maker. He wrote, “It’s been......

Chinese EV maker XPeng’s robotics arm raises $100 million to bring robots to households in 2 years

CNBC
CNBC – For more and to sign up click here XPeng is still focused in boosting the sales of its electric cars. But it has been focusing on building out future businesses in flying cars and robotics. Qilai Shen | Bloomberg | Getty Images XPeng Robotics, the affiliate company of......

Klarna valuation plunges 85% to $6.7 billion as ‘buy now, pay later’ hype fades

CNBC
CNBC – For more and to sign up click here Currently, most buy now, pay later services don’t impact a person’s credit score. That’s now set to change in the U.K. Jakub Porzycki | NurPhoto | Getty Images Klarna saw its valuation slashed by 85% in a new financing round......

A new way iconic brands like Procter & Gamble, Nokia are cashing in on R&D moonshots

CNBC
CNBC – For more and to sign up click here A picture taken on July 26, 2018 shows a view of the headquarters of Finnish telecoms giant Nokia in Espoo, Finland. Mikko Stig | Afp | Getty Images For over a decade, the research arm of Nokia Bell Labs in......

Top SoftBank exec steps back from role at Vision Fund as pressure mounts on investments

CNBC
CNBC – For more and to sign up click here Rajeev Misra will step down from his role as CEO of SoftBank Global Advisors, which manages the Vision Fund 2. It comes as pressure mounts on SoftBank’s investment strategy amid a string of bad bets and a crash in technology......

How a former Lehman Brothers banker turned the tables and built a pandemic-proof business

CNBC
CNBC – For more and to sign up click here Declan Ee always knew he wanted to run his own business.  But when he graduated from University College London in 2006, he saw his peers applying for investment banks and decided to give it a try. His first gig? Lehman......

Here are the China trends investors bet money on during a sluggish few months

CNBC
CNBC – For more and to sign up click here A factory in Suqian, Jiangsu province, China, on May 9, 2022. Future Publishing | Future Publishing | Getty Images BEIJING — By the numbers, manufacturing companies in China snagged the most investment deals in the first half of the year......

Activist investor group asks SEC to investigate Tesla over plan to shrink board

CNBC
CNBC – For more and to sign up click here Elon Musk, here seen at an event in New York in early-May, is being aggressively wooed to set up facilities to produce his electric vehicles “end-to end” in resource-rich Indonesia. Taylor Hill | Getty Images Entertainment | Getty Images Activist......

Here’s what’s hot — and what’s not — in fintech right now

CNBC
CNBC – For more and to sign up click here There has been something of a rotation out of certain pockets of fintech that were hyped by venture capitalists last year, such as crypto and “buy now, pay later,” and into less sexy areas focused on generating stable streams of......

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