On the agenda today:
- New York City’s fintech scene is hotter than ever.
- Wall Street’s hopes for global growth are the bleakest they’ve been since April 2020.
- We outlined the real power brokers of Silicon Valley: 50 people who oversee massive university endowments.
Let’s get started.
A Bank of America survey found that just 27% of fund managers expect growth to improve over the next 12 months — the lowest percentage since the coronavirus rocked the US economy in 2020. Here’s what else managers think about global recovery.
The venture-capital industry pours hundreds of billions of dollars into startups every year, and much of that money flows from Harvard, Yale, and other top university endowments. We’ve identified 50 people at mega-endowments who are making key investment decisions.
Tiger Global has quickly become one of Europe’s biggest startup investors, participating in $6 billion worth of deals — and its speed, cash, and hands-off approach is disrupting the way Europe’s venture capitalists do business. See how the hedge fund is changing the game.
Albert, a financial app that offers automated savings, budgeting, and investing tools, raised a $100 million Series C round from General Atlantic and CapitalG. Its CEO shared the deck the company used to woo investors — check it out here.
The company is among a wave of hot new fintechs that have successfully raised millions with pitch decks. See 11 of these innovative fintech pitch decks here.
Jay Bhatti, a VC firm cofounder, told us that only the top 15 MBA programs offer a return on investment. A graduate of Wharton himself, Bhatti said the value of the MBA has declined — unless you attend particular schools, including Harvard and Stanford. He explains his reasoning.
On our radar:
- Working from home has made us all paranoid. Here’s how to cope.
- Execs are getting rich from the adtech IPO boom. See who’s made the most money.
- eFinancialCareers reported that Goldman Sachs analysts are purportedly making $180,000, including bonuses, which are due at the end of the month.
- Not even Masayoshi Son, the man who spent $18 billion on WeWork, wants to invest in China right now. Here’s what that means.