Player Personnel: Colorado"s top tech and startup hires in April

While Covid-19 has altered hiring plans for many, the state’s top technology companies and startups continue to bring on personnel during the pandemic. We track the major player personnel moves in our daily newsletter, the Beat. Below, we’.....»»

Category: topSource: bizjournalsMay 4th, 2021

Making moves: The personnel moves in the DFW tech and startup scene in January

Check out the companies making hires in the local tech and startup scene in January......»»

Category: topSource: bizjournalsJan 29th, 2021

How technology is changing the advertising industry

The crackdown on ad tracking and changing consumer habits are upending how advertisers market and target consumers. Here's a breakdown. Toby Melville/Reuters Technology has upended the advertising business. Ad tracking and consumer habit changes are impacting how advertisers reach people and fueling new companies. Here's a breakdown of Insider's coverage of how ad buyers and sellers are impacted. See more stories on Insider's business page. The advertising industry is going through big changes as technology changes upend consumer habits and where and how marketers reach them.Apple and Google's phasing out third-party cookies threatens to upend longstanding ad targeting practices. The acceleration of streaming TV has fueled the chase for TV ad dollars. The move away from cookies and rise in online shopping has fueled new agencies specializing in digital advertising and led to a flurry of deals and investment in ad tech companies. Insider has been tracking these trends at some of the biggest advertising buyers and sellers, including WPP, Omnicom, Google, and Amazon, and rounded up our coverage.The crackdown on ad tracking is changing advertisingTargeting changes are forcing advertisers to come up with new ways to reach consumers. Google and Apple have sent shockwaves through the ad industry when they announced changes that would put an end to longstanding ad targeting practices in the face of pro-privacy regulation.Those moves have led marketers, their agencies, and adtech companies like LiveRamp and The Trade Desk scrambling to find workarounds.Read more: Google's move away from targeted advertising threatens to upend marketers' scramble to save digital ads Apple's recent privacy changes are already wreaking havoc on Facebook advertisers, and ad buyers are scrambling to manage the disruptionsAd giant Dentsu is going through a massive culling of its agencies - here's what we know about the winners and losers The ad industry is looking for a way to save targeted ads, but publishers worry it'll cheapen their reader relationships and cost them revenueMarketing meets tech Employees work at the chocolate maker Mars Chocolate France plant in Haguenau. Vincent Kessler/Reuters Companies are finding new ways to zap ads at people by building homegrown tools, using targeted ads, or ​​snapping up ad tech and martech companies.Brands like Anheuser-Busch, Mars, P&G and L'Oréal have ramped up efforts to gather data on consumers as platforms clamp down on ad targeting and e-commerce accelerates.Read more:The owner of MacWorld and InfoWorld is buying a tech firm to survive the death of third-party cookies, and is plotting even more acquisitionsMeet 19 execs at companies like Adobe and Shopify who are shaping the future of marketing techAnheuser-Busch InBev has amassed data on 2.5 billion consumers and is using it to get around new ad targeting challenges, growing sales as much as 80% Candy maker Mars built a tool that tracks people's emotional reactions to ads, and says it's lifting sales by as much as 18%Big brands like Nike and Neiman Marcus are snapping up tech companies to learn more about their customers as old ways of ad targeting go away21 advertising execs who are finding new ways to target people in a privacy-centric worldOnline fashion marketplace Farfetch is doubling down on 'addressable' TV ads as competition intensifies with Amazon for luxury shoppersAdtech is hot againEven as advertisers slashed their spending in the economic downturn, the rise of streaming TV and online shopping has benefitted adtech companies that help connect ad buyers and sellers and solve advertising and marketing problems.Investors are pouring money into firms like like TVision DoubleVerify that are solving problems in digital advertising. Other firms are going public as Wall Street fell back in love with adtech due to broad macroeconomic changes. Email marketing is getting new attention as reliable way to target compared to digital advertising.Read more:A startup that wants to bring a 'Moneyball' approach to ads raised $8 million from investors like Stage 2 Capital and SamsungIntuit's $12 billion deal to buy Mailchimp could kick off a wave of email M&A. Here's who insiders think will be the new buyers, and who they'll be targeting.TV ratings giant Nielsen has lost the media industry's backing. These 6 companies could replace it.9 hot European digital-marketing companies that experts say are prime acquisition targets in 2021The Trade Desk is taking on Google for digital ad dollars, and the battle is about to get more complicated9 adtech companies that advertisers are flocking to for new ways to zap ads at people and measure whether they work The 18 hottest adtech companies of 2020 8 of the most promising tech startups in public relations, according to investors20 experts who are working on big solutions for advertisers as ad targeting as we know it goes away Ad agencies are getting disruptedWhile the established holding companies scramble to adapt to the digital shift, new ad companies focused on digital specialities and armed with new private-equity funding threaten to take their place. Read more:12 advertising upstarts that are challenging ad giants like WPP and OmnicomDept is one of the fastest-growing advertising companies. Its CEO explains the Carlyle-backed firm's plan to become the leading digital agency.13 power players at S4 Capital helping Sir Martin Sorrell build a digital challenger to ad giant WPPAd agencies that are top acquisition targets as private equity money pours inExperts name 12 companies that are likely acquisition targets as online shopping takes offRetailers are seeking a piece of the ad pie Instacart is adding 30-minute delivery. Instacart A new set of companies sees an opportunity in selling advertising include food delivery companies, online retailers, and brick-and-mortar grocers. They're hoping to replicate the success of Amazon, which claimed 10.3% of the US digital ad market in 2020 and is competing with Google and Facebook for ad budgets.Advertising is Amazon's fastest-growing business and brought in $21 billion in 2020. Here are the 21 top insiders leading the charge.Alan Moss is spearheading Amazon's push to steal ad dollars from Facebook and Google. Insiders lay out his playbook for getting a slice of the $70 billion TV ad market.Uber just hired a top Amazon advertising exec. Here are 45 other big hires that show how it and other companies are warring for advertising dollarsAmazon, Walmart, and Instacart are vying for advertising dollars - here's exactly how much they charge for ads18 firms that are helping solve marketers' giant problems selling and advertising on AmazonExperts lay out how Instacart, Walmart, and other retail ad sellers can take on Amazon in digital advertising Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 24th, 2021

The top affiliate programs that influencers use to recommend products

The top creator economy news of the week includes an inside look at TikTok's workplace culture and the top affiliate-marketing programs. Tori Dunlap. Tori Dunlap Hi, this is Amanda Perelli and welcome back to Insider Influencers, our weekly rundown on the business of influencers, creators, and social-media platforms. Sign up for the newsletter here.In this week's edition:The top affiliate-marketing programs for influencersAn inside look at TikTok's six workplace principlesHow sliding into DMs can lead to a sponsorship dealMeet the chef who went from laid-off to TikTok starAnd more, including a breakdown of how much YouTubers earn a month for their videos and how a TikTok creator made over six figures from her e-commerce shopSend tips to or DM me on Twitter at @arperelli. Rakuten Advertising; Share A Sale; LTK; MagicLinks; Samantha Lee/Insider The top affiliate-marketing programs for influencers Swipe ups, stickers, links in bio. We've all seen affiliate marketing at work.The commission-based model is one of the most straightforward and accessible ways that influencers can start earning money: share a trackable link to a product or service, and make a percentage of sales.Sydney Bradley and I highlighted the top affiliate-marketing networks used by influencers in 2021.Here's a look at a few of the programs that made the cut thanks to high commission rates, access to top brands, and robust interfaces and tools: The Amazon Influencer Program stands out for allowing creators to partner with the world's largest retailer and access a wide suite of tools. LTK (previously and rewardStyle) gives influencers a customized URL and an in-app page called an "LTK Shop," where they can compile a shopping list of their affiliate links for followers. MagicLinks offers the ability to conduct affiliate marketing through text message.Here's the full list of the top programs catering to influencers. TikTok; Samantha Lee/Insider Inside TikTok: How ByteDance's culture principles are used to reward and reprimandEvery tech startup has its own culture, and we got an inside look at TikTok's. Employees at the video app must abide by a set of six workplace principles - dubbed "ByteStyles" - written by its parent company ByteDance.The company rules are often fairly broad, like "be grounded and courageous" and "be open and humble." Internally, staffers use ByteStyles as a way to call out what the company deems good or bad performance during employee evaluations, my colleague Dan Whateley wrote.While adhering to ByteStyles can lead to gifts or awards, not following the cultural tenets can lead to discipline.Their open-ended nature can be frustrating when applied to specific work situations, according to four current and former TikTok employees. Sometimes ByteStyles are used as catch-all warnings to employees about behavior that the company didn't like."'That's not ByteStyles!' is like so general, but thrown around [when] anyone kind of does stuff the other person doesn't like," a current TikTok employee told Insider.Read more about the principles and how they impact TikTok's culture.Here's what else you need to know this week:What's trending We tried a personal training session at Dogpound LA - where TikTok stars Addison Rae, Josh Richards, and Bryce Hall sweat it out.A 40-year-old lipstick is selling out after it became TikTok's latest obsession.TikTok is turning decade-old books into bestsellers.Creator earnings An inside look at the media kits of YouTube, Instagram, and TikTok stars.YouTube stars break down how much they make per month on the platform. How TikTok helped a cotton candy maker earn $165,000 in sales in six months.Marketing movesInfluencer agency Digital Brand Architects hired Ernest B. James as SVP of special projects.Snap has made three new hires on the talent partnerships team: Julie Bogaert, Racquel Douglas, and Emily McDonnell.ICM agent Chris Sawtelle is leaving the firm to become co-president of TikTok star Josh Richards' CrossCheck Holdings. Tori Dunlap. Tori Dunlap Read the Instagram DM templates one influencer uses to land brand dealsPersonal-finance influencer Tori Dunlap has 1.7 million TikTok followers and earns thousands of dollars promoting companies like Credit Karma and Four Seasons.Her tip for scoring those brand deals? Slide into the DMs. She landed her first paid deal last year after reaching out to Personal Capital, a personal wealth management company, over Instagram DM.I spoke with Dunlap who shared templates for other influencers to use and said not to fear rejection."Just because they said no now, doesn't mean that's no forever. I have 2 million followers and I still get 'no' a lot," Dunlap, who is 26, told Insider.Check out the exact DM templates Dunlap uses to score paid deals, here. Poppy O'Toole trained in a Michelin-starred kitchen before pivoting to become a social media chef. Louise Hagger How a chef went from laid-off to TikTok starFor Insider's as-told-to essay series, 27-year-old Michelin-trained chef Poppy O'Toole shared how she became a social-media creator. She started filming TikToks of easy-to-follow recipes during the first UK lockdown in March 2020, after she'd been let go from her job as a chef in London.Now, she says she's surpassed her old salary and has a cookbook in the works.Read her essay on how TikTok turned her career around.Chart of the week: The Influencer Marketing Factory released a creator economy report, with insights from executives at Patreon, Koji, and Jellysmack. In the chart above, influencers share which platform is the most lucrative.Check out the full report here. Screen shot of #plantbased on TikTok TikTok hashtag of the week: Every week, we highlight a top trending hashtag on TikTok, according to data provided by Kyra IQ.This week's hashtag: #plantbasedPercentage uptick over the last 7 days: 8,520%The latest viral hashtag is centered around popular plant-based recipes, like a recreation of Gordon Ramsay's vegan bacon recipe, which is made with tofu and has 1.2 million views. Theo Wargo/Getty Images What else we're reading and watching:Disney is looking to create breakout TikTok and Instagram stars (Garett Sloane, from Ad Age)The Met Gala invited nearly double the amount of content creators this year (Alexa Tietjen, from WWD)Creators Colin and Samir uploaded a 2-hour interview with YouTube star MrBeast. Watch here.Subscribe to the newsletter here.And before you go, check out the top trending songs on TikTok this week to add to your playlist. The data was collected by UTA IQ, the research, analytics, and digital strategy division of United Talent Agency. UTA IQ Subscribe to the newsletter here.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 23rd, 2021

Santa Monica tech startup hires Army vet as COO

She joined Convoy in 2017 as its first lawyer, when the now multibillion-dollar company had under 100 employees......»»

Category: topSource: bizjournalsMay 15th, 2021

Tempe tech startup hires new CFO

Name: Jennifer Cummings New title: Chief Financial Officer New company: Remitter USA Inc., a Tempe-based, mobile-first platform that allows banks or merchants to notify and collect from customers who are late on their payments. The communication pl.....»»

Category: topSource: bizjournalsMar 21st, 2020

The top Chicago tech hires in December

Here is a recap of the biggest tech hires and promotions in Chicago over the past month.  Chicago startup Mobile Doorman named Nitin Vig as its newest CEO. Vig replaces founder Bob Matteson, who is now the executive chairman. Vig joined Mobile Doorm.....»»

Category: topSource: bizjournalsJan 5th, 2020

Mom"s startup platform Pepperlane hires new head of tech, moves offices

Four months after the former CEO of Constant Contact joined the company, the Cambridge startup is adding another executive to its leadership team......»»

Category: topSource: bizjournalsSep 25th, 2019

Player personnel: The top Chicago tech hires in May

The biggest tech hires and promotions in Chicago over the past month are recapped......»»

Category: topSource: bizjournalsMay 30th, 2019

Former NFL player relocates startup from California to Houston

Brown was "blown away" after attending a sports tech pitch event in Houston last fall......»»

Category: topSource: bizjournalsApr 23rd, 2019

Invented at Duke, Financed in Beijing: Powerful Spy Camera Shows China"s AI Ambition

After failing to win over financial backers and customers in the U.S., David Brady moved his tech startup to China. The project’s shift east offers insight into how China is emerging as a global player in pioneering technologies......»»

Category: smallbizSource: wsjJun 11th, 2018

Orlando is gearing up to become a rival to Silicon Valley - and shift away from being a destination primarily for tourists and retirees

Lockheed Martin, Oracle, Verizon, and Deloitte all have offices in Orlando - and more companies are joining them. Orlando has talent, transport, and low taxes. John Greim/Loop Images/Universal Images Group via Getty Images Orlando has been shaking off Florida's reputation as primarily a place for tourists and retirees. Instead, the city is becoming a hub for tech, defense, training, and finance companies. Execs from EA, Luminar, and Stax told Insider why its tech scene is thriving. See more stories on Insider's business page. Defense and technology startup Red 6 is opening a hub in Orlando to develop its airborne tactical augmented reality system.It's one in a long line of companies, including Lockheed Martin, Oracle, Verizon, and Deloitte, with offices in the central Florida city.For years, people have viewed the Sunshine State as primarily a vacation and a retiree destination, but groups such as the Orlando Economic Partnership have been working to elevate its profile as a tech hub."In Orlando, everyone knows the Disney story," Tim Giuliani, the Partnership's president, told Insider. "This part of the story that people don't know or don't recall is the space race."NASA started performing launch operations in Cape Canaveral more than 70 years ago. The city is also home to the Kennedy Space Center and US Army, Air Force, and Navy simulation command centers, which has led to an influx of other technology, defense, and training companies."You have this cluster here, that's developed over a long time, and now you're seeing it get to a critical mass," Giuliani said. "You're seeing more companies moving out of California and New York.""We've made great strides in growing our reputation as a city where tech companies and start-ups can not only open, expand, relocate, and thrive, but be in proximity to some of the world's leaders in innovation," Orlando Mayor Buddy Dyer added.Orlando has talent, transport, and low taxesExecs from Electronic Arts, Luminar, and Stax told Insider that Orlando's big talent pool made it easier for them to recruit in the area."We have all these great colleges that are literally in our backyard," Suneera Madhani, founder of Orlando-based SME payments platform Stax, said. These include the University of Central Florida, the University of Florida, and Valancia College.Giuliani said there were half a million college students within a hundred-mile radius of downtown Orlando."We have been able to tap into that talent," Luminar CTO Jason Eichenholz said. The self-driving LIDAR startup has around 400 employees, with roughly 60% based in Orlando."In the early days of Luminar, when we would meet with a potential customer and they'd have one specific LIDAR engineer, we would have a millennia of men and women, experienced in LIDAR technology, which gave us a very unfair advantage compared to our competition," Eichenholz added.The execs said it was easy to recruit workers from other states to move to Orlando, too.Electronic Arts vice-president Daryl Holt said its Orlando studios had more than 850 employees - some from the area, including many UCF graduates, and some who relocated.Migration to the state has boomed because of its warm climate, low living costs, and lack of income tax."Who wouldn't want to move to Florida?" Mahdani said. Many of Stax's C-suites and middle management relocated from New York, California, and Atlanta, he added.Eichenholz said some young tech workers relocated to California to work for companies like Google, Apple, and Facebook, but that once they had a family, "we do exceptionally well in being able to attract them back to Florida."The execs said Orlando had a pro-business environment and bustling tech community. Madhani, for example, sits on the board of Starter Studio, a venture-tech accelerator that helped her set up Stax in 2014."It's a wonderful nexus point of industry, education, and government all rowing in the same direction," Holt said.Giuliani said Orlando is a well-connected city. As well as an international airport, Brightline is due to launch a rail line connecting Orlando to Miami, Fort Lauderdale, and West Palm Beach in 2022."Obviously Silicon Valley is not going to die and New York's not going to die," Giuliani said. "There's just going to be more for everybody else."Read the original article on Business Insider.....»»

Category: worldSource: nyt20 hr. 29 min. ago

How to tell if you"re a covert narcissist

Our work-advice columnist tells a reader how to tell if they're a narcissist, plus a look inside Launch House's work-hard-play-hard culture, in Insider Weekly. Welcome back to Insider Weekly! I'm Matt Turner, co-EIC of business at Insider."Am I a covert narcissist?"That's the question at the heart of Rebecca Knight's latest work-advice column this week. Rebecca's spent her career answering these kinds of questions, most often focused on the emotional life of work. As boundaries between home and work blur in the WFH era, they're more relevant than ever.Also in this week's newsletter:Noom markets itself as an anti-diet app. Users say they count calories and receive generic advice from expensive subscriptions.Private-equity firms are locked in a power struggle with their investors, and lawyers are raking in cash no matter what.Launch House allows startup founders to live and work in mansions. Now it's facing scrutiny over safety.Let me know what you think of all our stories at mturner@insider.comSubscribe to Insider for access to all our investigations and features. New to the newsletter? Sign up here. Download our app for news on the go - click here for iOS and here for Android.From narcissism to hybrid life, our work-life columnist tackles tough questions 20th Century Fox Correspondent Rebecca Knight takes us behind the scenes of her work-life column What's Working?:What most interests me about work and careers are the people-problems. When launching my column, "What's Working?", I wanted to find a way to talk about these things and help workers through the challenges they face.Work and home have merged into one in this pandemic. There is much more of an acknowledgement and a focus on what's going on in our personal lives outside of work. The reader questions I'm getting most often are about personality clashes in the remote setup and about people reassessing what they want out of their lives and out of their jobs.My most memorable column so far was about remote-work paranoia. A reader worried: "There must be another Slack channel that everyone else is having fun on and leaving me out of." That reader tapped into something that a lot of us are feeling right now - and as a remote employee myself, I sometimes feel it, too.So that's why it's important to remember that we're all doing our best in this pandemic. Have compassion for yourself and for others. And if you need any advice, send me a question at Rebecca's latest column here: 'I always thought that I was a socially anxious introvert. Now I worry I'm a narcissist. What do I do?'Noom says it offers personalized weight-loss support. Users say otherwise. Noom An industry leader in weight-loss apps, Noom has millions of dollars worth of venture-capital funding. It claims to use psychological methods and customized plans to help users lose weight - though users say they largely get cookie-cutter content. While the app sells itself on a concept of psychological reset and long-term weight control, a registered dietician said Noom advises an extremely low daily calorie goal - "It's not really an adult serving size." Here's why some clients reported feeling anxious and burnt out. Get the full story on Noom's canned advice and expensive subscription service.Private-equity firms are locked in a power struggle with their investors Samantha Lee/Insider Private-equity firms and their investors are at each other's throats with expensive demands and competing interests. Legal teams from both parties are caught in the middle, waging a secret war that investor attorneys see as "a game of holding the line." Ambiguous contractual changes between legal teams, firms, and investors muddy the water, and changes are rarely uniform across the industry. The back-and-forth often results in seven-figure legal expenses, as private-equity-firm billing rates can cost up to $1,500 per hour. But the battle, according to one attorney who works for investors, is one-sided in favor of private-equity.Read about the expensive legal war between private-equity firms and their investorsA wild party and COVID outbreak have raised safety concerns for Launch House Eray Alan Los Angeles startup Launch House, a coliving program meant for founders, threw a mismanaged house party with hundreds of guests. Police had to shut it down - but that's part of the "work hard, play hard" ethos of Launch House, according to former residents.While at times, Launch House was poorly controlled and potentially unsafe, with COVID-19 outbreaks and parties, residents also said there were many benefits. A strong community, invaluable network, and fireside chats with like-minded entrepreneurs all remain part of the culture. But the safety concerns have put the company under scrutiny.This is how Launch House plans to move forward - with the help of venture capitalists.More of this week's top reads:Better's CEO has a specific hiring philosophy that allowed him to quadruple its workforce during the pandemic.These 9 BlackRock execs are powering Aladdin, a powerful behind-the-scenes tech software the asset manager has staked its future on.Shopify beat Amazon in one important metric, as competition intensifies between the e-commerce giants.Insider correspondent Kate Taylor exposed Brandy Melville's allegations of discrimination and sexual exploitation. Here's how she got the story. Alphabet life-sciences unit Verily is planning to untangle itself from Google ahead of a potential IPO.This Stitch Fix employee quit during a fiery all-hands meeting. She says stylists are being manipulated and silenced.Investors of cannabis startup Civilized are pushing out the founders. Insider has the full memo.Compiled with help from Phil Rosen, Lisa Ryan and Jordan Erb.Read the original article on Business Insider.....»»

Category: worldSource: nyt20 hr. 29 min. ago

I finally quit my finance job to become a full-time musician - here"s how I"m making the jump

Dane Drewis tried to become a full-time musician a few years ago but fell back on his finance degree. This time, he's making sure it'll be different. Dane Drewis and his guitar. Dane Drewis Dane Drewis is quitting his finance job to pursue music full-time by treating his music like a business. Drewis treats his music like a business and has mapped out a financial strategy to move forward. He recommends acquiring digital production skills for more control over your music. See more stories on Insider's business page. Sometimes you need a nudge to make a leap of faith. But a pandemic lockdown can do the trick, too. Once music gigs dried up during COVID-19 lockdowns, California musician Dane Drewis decided he would quit his corporate finance job and make the jump from part-time to full-time musician. Drewis, who was most recently the VP of finance at design and technology company 14th Round Inc., has done a lot of jobs in his working career: business, finance, waiting tables, and even running a restaurant that Beyoncé invested in.But that list never included music, until now - and that's because he's decided to treat his music like a business venture, not just a side hobby."I'll be turning 39 soon and I've never made a full commitment with music," Drewis told Insider. "I want to be able to look back and say I went all in with music."Drewis, whose parents are both musicians, fell in love with music in college thanks to late-night jam sessions and endless hours practicing guitar alone in his dorm room. But as he took on a professional career, he didn't have the time or energy to go all in. Despite a comfortable salary at his old job and the flexibility to play music on weekends and during evenings, Drewis felt he had to both answer his passion and stop doing what he didn't enjoy. "Honestly I'm tired of doing spreadsheets all day," Drewis said. "I'm ready to share as much happiness and love as possible through committing myself to music."No more safety netsSeveral years ago, Drewis gave up an attempt at becoming a full-time musician because sleeping in his van and living with fewer comforts took its toll. He couldn't secure enough music work to make ends meet and eventually he had to find a full-time job. "Being that broke is stressful and it makes it really hard to be creative," Drewis explained. This time, Drewis has given himself a runway to launch off of - the security of a roof over his head and a nest egg of savings, as well as a more developed financial strategy as opposed to playing music at casinos, weddings, and small-time gigs for low pay."I've done the whole starving artist thing, but it won't be the same this time," Drewis said. "Less scrambling for cash and more consistent work this time, promotional events. I'm treating this like a real business venture."In his previous attempt, Drewis kept his finance degree front and center as his backup plan. The safety net, he said, is ultimately what prevented him from full dedication. "No backup plan this time around," Drewis said. "Before, I was like, 'I can do finance if I need to.' But this time's different. I know for damn sure I don't want to do finance again. That's what's driving me this time."Leveraging digital skills and a business planTo make the jump to full-time musician, Drewis has revamped his digital skills and has used his education to map out a financial strategy for his music business. He shares music on Instagram and is a verified artist on Spotify.He's invested in learning how to produce his own songs rather than relying on a company to produce his music for him - something essential to maintaining creative freedom, Drewis said. A post shared by Dane Drewis (@danedrewis) "I've put a lot of time into learning the software behind music production, tracking and producing my own songs," Drewis said. "I'm taking control over my recordings for my own work."By producing his own music and working on his own timeline, Drewis aims to create original content on a regular basis. Then, he has plans to build out his music-licensing business to get his songs on television commercials and elsewhere. "Ten years ago, I never treated music like a business," Drewis said. "I just saw myself as a singer. But now I see this as a startup company. I know my revenue and expenses. I have a firm business plan."To younger artists looking to make the leap, Drewis recommends becoming as tech-savvy as possible with music production. "[Digital] skill set is the primary currency today," Drewis said. "You want to be your own artist, you want to be able to translate what's in your mind onto the computer and into people's ears, all while making your music sound exactly how you want it to sound." Drewis recommends becoming proficient at Ableton, a production software, as a way of gaining more autonomy as a musician. These tools allow for greater control and customization, he said. Drewis returned from his first international tour in Germany last week, and he has a slew of shows planned for the coming months. His focus remains on building out his digital presence, filming music videos, and growing his audience."For musicians, a big worry is artistic failure," Drewis said. "But a bigger worry, for me, is wondering if I was good enough to really do this. Now's the time to find out." Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 25th, 2021

Five Economic Benefits From Bank And Fintech Firm Partnerships

While banking clientele have never been more frustrated than now, the global industry faces a unique opportunity to flip the current system upside down. Q2 2021 hedge fund letters, conferences and more In fact, Capgemini’s World FinTech Report of 2021 details how banks can leverage the new competitive market in depth. Just as we watched […] While banking clientele have never been more frustrated than now, the global industry faces a unique opportunity to flip the current system upside down. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more In fact, Capgemini’s World FinTech Report of 2021 details how banks can leverage the new competitive market in depth. Just as we watched large and small businesses alike drastically adapt to the digital demands of Covid in 2020, banks are facing the same reality this year. The competitive threats no longer urge, but rather require, banks to implement a digital-only approach to subsidiaries in order to stay afloat during the dawn of FinTech. Traditional banks are taking to collaboration versus competition in order to boost engagement and interaction with innovative, forward-thinking FinTech firms. The Benefits Of The Partnership Between Banks And FinTech Companies No one can deny the value of both entities, however, they’re also stronger together than apart. That’s what we’re looking at here, and the union is mutually beneficial. Here’s how. Increase In Trust From Modern Customers The connection between banks and FinTech companies means heightened trust backed by better tech, stronger security and less room for errors as a result of automation. This should be welcome for any customer in need of reliable and secure financial banking services, and especially in an age where people are uneasy about the state of their finances. According to a recent survey conducted by CreditDonkey, for instance, only a third of people under the age of 40 expressed a high level of confidence in their financial future. Another survey from April 2020 showed that just 14% of consumers sought their bank’s council when in need of financial direction following a major life event. This has definitely not been great news for the banking industry. However, it also isn’t shocking. Consumers often do not seek guidance from traditional financial sectors due to a lack of trust. This could very well be due to the 2008 recession, where 41% of the population that were surveyed stated that they were scared, and 53% were mad. Client confidence in banks has grown over the years but still, today, only equates to nearly one-third of clientele. On the other hand, trust in tech companies is a starkly different story. According to The Verge Tech Survey 2020, Americans hail Google, Amazon, Apple, Microsoft, Netflix, and YouTube as leaders in positively affecting society. Specifically, 75% of survey respondents trust Microsoft, with Amazon following at 73% and Facebook at 41%. Tech Makes Banking Accessible, Safer, Smarter And More Efficient Combining tech with banking means more ease of use with user’s smartphones. GSMA real-time intelligence data shows that there are 5.28 billion people using mobile devices in the world as of September 2021. Making banking mobile-friendly is a no brainer and boosts connection with clientele. People just don’t want to drive to their bank or ATM anymore. They want instant mobile access and complete visibility from the comfort of their homes. Users are looking for smarter ways to handle business and finances. That means being able to seamlessly switch between desktop, mobile device or tablets. Fortunately, the cloud solves this completely. Banking customers can get to their banking accounts from virtually anywhere and access their updated information in real time. The cloud has paved the way for quicker transactions, greater visibility and increased accuracy. Stronger Brand Reputation As A Result Of Partnership Partnering with a highly regarded FinTech company looks very good for a lesser known bank. More users are going to be interested in downloading a mobile app from a reputable tech company. A credible partnership gives customers more faith that their interests are held at the highest priority. To further the first point of mobile access, even greater than that is the consumer's ability to complete multiple actions digitally that just years ago they would have had to drive to the bank for. This includes, but is not limited to, money transfers, financial planning, transaction tracking, investments, check deposits, special perks and banking fee management. FinTech companies help users have an abundance of options and services right at their fingertips. This, in turn, creates greater business for banks. Security Remember when we mentioned trust earlier? Security plays a massive role in this. FinTech companies lend banks the know-how and resources to protect customers’ data from vulnerabilities. Specific steps include relying on SASE (Secure Access Service Edge) networks, utilizing AI-based fraud detection systems and, as mentioned previously, storing customer data on the cloud rather than with on-premise databases. Customers want to know that their life savings are going to be there when they wake up. Can you blame them? And it’s worth noting while customers should feel safe knowing their funds are held securely with fintech services, none of this is to say that they shouldn’t be investing in other financial safeguards as well. Building up a diversified investment and retirement portfolio, setting aside at least three months worth of expenses into an emergency fund, and investing into a comprehensive insurance policy to help cover their financial assets in the event of the family’s income provider becoming deceased or disabled are all wise strategies anyone should take to prepare for the worst. Scalability FinTech and bank partnerships can be quickly scaled up or down in order to tailor to customer response and needs. These consumer “pain points” present themselves uniquely over the course of the journey and collaboration grants both sectors more solutions to offer. Scalability is the key to sustainability. Together, FinTech and banks can wreak widespread disruption to the market. Providing the best possible products together in an ascendable way helps both teams cut through the noise of the financial industry. Conclusion At the end of the day, it’s not enough for banks to just do things the way they’ve always done with excellence. Banks must remain futuristic with tech-forward, collaborative thinking in order to serve their customers best. Banks and financial institutions alike must together keep their efficiency radars going twenty four hours a day, seven days a week in order to stay on top of new trends, startup activity, new developments, and integration opportunities. Updated on Sep 24, 2021, 12:41 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkSep 24th, 2021

Civilized founders pushed out

Welcome to Insider Cannabis, where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar cannabis boom. As the legal cannabis market grows in the US, there are many ways for investors to gain exposure to the industry. Bloomberg Creative/Getty Images Welcome to Insider Cannabis, our weekly newsletter where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global cannabis boom.Sign up here to get it in your inbox every week.Hello everyone,In some respects, the fight over how to legalize cannabis is a microcosm of larger social debates, pitting social justice activists against more free-market-oriented folks. Take the debate this week over the SAFE Banking Act. The cannabis banking bill passed the House for the fifth time last night. This go-around, language from the bill - which would open up the banking system to cannabis companies and allow consumers to pay with credit cards - was shoehorned into the National Defense Authorization Act.The NDAA usually passes the Senate without much fanfare. But Senate Majority Leader Chuck Schumer, Sen. Ron Wyden, and Sen. Cory Booker have their own more comprehensive cannabis bill, The Cannabis Opportunity and Administration Act. Booker has said that he opposes adding cannabis banking protections to the Senate's version of the NDAA ahead of broader criminal justice reforms.It remains to be seen whether SAFE will be included in the Senate's version of the NDAA. Many cannabis activists say that the SAFE Act would only help banks and large cannabis companies make more money in the industry. They'd rather see full-scale legalization or at least record expungement and other criminal and social justice measures passed first.But supporters of the SAFE Act say it's a necessary tool to help protect and grow small businesses since many social equity license holders are unable to get loans or open lines of credit to start their businesses, and that dealing in all cash is a safety risk. In other news, Amazon doubled down on its support for cannabis legalization and said it was lobbying the federal government for legalization. Aurora Cannabis closed a major facility and cut around 8% of its workforce. The company delayed its earnings until next week. Tilray closed its Nanaimo, British Columbia facility as well. California will be adding a cannabis competition to its state fair, where farmers will show off their best buds. I'll be moderating a panel about the New York cannabis opportunity at the Prohibition Partners x Business of Cannabis conference in New York City on Wednesday, September 29. I'm looking forward to seeing many of you in person, and let me know if you'll be around. - Jeremy Berke (@jfberke)If you like what you read, share this newsletter with your colleagues, friends, boss, spouse, strangers on the internet, or whomever else would like a weekly dose of cannabis news. Here's what we wrote about this week:Investors are pushing out the founders of troubled cannabis startup Civilized. We got ahold of the full memo.Investors are pushing Civilized founders Derek and Terri Riedle out of the company, according to a memo circulated among investors on Monday and obtained by Insider. The investors say the founders, Derek and Terri Riedle, saddled the company with debt.A startup accelerator that's worked with J&J and L'Oréal is getting into psychedelics as the industry goes mainstreamA new accelerator program is targeting early-stage ancillary startups focused on psychedelics, in the latest sign that psychedelics are entering the mainstream and that funding dollars are trailing closely behind. The House just passed cannabis reforms as part of a defense bill. Here's what would change for businesses and their customers.The US House of Representatives has passed the Secure and Fair Enforcement Banking Act, or SAFE Banking Act, yet again.Lawmakers tucked the cannabis banking bill into the National Defense Authorization Act that passed lower chamber on Thursday. It's not clear whether the Senate will include cannabis reforms in its version of the defense package once the upper chamber takes it up. Executive movesNew York Governor Kathy Hochul on Wednesday announced two more appointees - Reuben R. McDaniel, III and Jessica Garcia - to the board of the Office of Cannabis Management, the regulatory body responsible for building out the adult-use cannabis industry in the state. Deals, launches, and IPOsCannabis tech company Dispense said on Tuesday that it had raised a $2 million seed round led by NextView Ventures and Poseidon Asset Management.Michigan-based cannabis company SKYMINT said on Tuesday that it raised $78 million and acquired 3Fifteen Cannabis. Investors in the round include Tropics LP, an affiliate of Sundial Growers' JV SunStream Bancorp Inc., and Merida Capital Holdings.Christine De La Rosa, the CEO of The People's Ecosystem, is raising a $50 million fund to invest in BIPOC and women-led cannabis businesses. Psychedelics company Delic Holdings Corp said on Monday it would acquire Ketamine Wellness Centers Inc, increasing its footprint to 12 clinic locations across the US, in a $5 million cash-and-stock deal. Crain Communications is acquiring cannabis financial media site Green Market Report. The terms of the deal were not disclosed. Marijuana activists hold up a 51-foot inflatable joint during a rally at the U.S. Capitol to call on Congress pass cannabis reform legislation on Tuesday, Oct. 8, 2019. Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images Policy movesThe House of Representatives on Thursday passed the SAFE Banking Act, a cannabis banking bill, as part of the National Defense Authorization Act. It's not clear whether the Senate will include cannabis reforms in its version of the defense package once the upper chamber takes it up. Italy is expected to hold a referendum on legalizing cannabis early next year after organizers gathered the 500,000 signatures within a week, reports Reuters. Research and dataA new report from the nonprofit Economic Policy Institute found that unionized cannabis workers could make $8,690 more per year than non-unionized peers. Psychedelics company Atai Life Sciences said on Tuesday that its platform company DemeRx has started its early-stage clinical trials of ibogaine to treat opioid use disorder.Cannabis data firm BDSA says in a report that cannabis sales will hit $31 billion this year, a 41% increase over last year. By 2026, BDSA expects cannabis sales to exceed $62 billion. EarningsMedMen reported its Q4 and FY21 results on Thursday. The company reported $42 million in revenue and a net loss of $46 million in Q4. For the full year, the company reported $145 million in revenue and a net loss of $157.6 million. What we're reading Why Amazon wants to make sure everyone knows it's totally cool with smoking pot now (Insider)Lawyers, race and money: Illinois' messy weed experiment (Politico)'Millions of pounds' of legal marijuana diverted to underground market, California lawsuit alleges (MJ Biz Daily)Getting high before exercise is the secret to sticking with a fitness routine, some athletes say (Insider)Illegal marijuana farms take West's water in 'blatant theft' (Associated Press)Marijuana banking sponsor discusses path through Senate after House approves reform for fifth time (Marijuana Moment)Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 24th, 2021

Wall Street lobbies for crypto - Plaid hires chief privacy officer - How to get a job at Goldman

The top finance news for Sept. 24, including the latest on Goldman's new crypto expert and Plaid's first-ever chief privacy officer. Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go - click here for iOS and here for Android.On the agenda today:Goldman Sachs just hired a digital-assets expert from Facebook.Plaid hired its first-ever chief privacy officer. Finance-career experts gave us an inside look at how to land a job at Goldman.Let's get started. Goldman Sachs just hired a digital-assets expert from Facebook Reuters / Shannon Stapleton Facebook's Lee Brenner will be joining Goldman Sachs as the bank's first head of public policy for digital assets. Brenner will work with Washington watchdogs, at a time when regulators are increasingly looking at banks' involvement in crypto. Get the details on his new role.Plaid has hired its first chief privacy officer Plaid As Plaid's first-ever chief privacy officer, Sheila Jambekar will play a key role in the long-running turf war between fintechs and big banks. Coming from Twilio, Jambekar will develop and oversee Plaid's data privacy and security standards. Meet her here.How to land a job at Goldman Sachs Tayfun Coskun/Anadolu Agency via Getty Images; Nicolas Economou/NurPhoto via Getty Images; Samantha Lee/Insider We spoke with a Wall Street recruiter and finance-career experts who gave us insight on how to navigate Goldman's hiring process. From making sure your résumé is completely honest and demonstrating a passion for more than numbers, here's their best advice for getting a job at Goldman Sachs.How Better became one of America's top startups Better Mortgage company Better has hired 7,000 people during the pandemic, and was recently nominated by LinkedIn as the top startup in the US. We chatted with execs, who told us how they've ramped up hiring and how they keep staff happy. Get the inside story on Better's rise.On our radar:Four lawyers share stories of mental and physical exhaustion - and why they ultimately decided to quit Big Law.The Financial Times reports that Wall Street CEOs like Jamie Dimon and Brian Moynihan are bucking the trend of quick-fire bosses. More on the "forever CEO."TPG has appointed a new president, WSJ reports. Among other management changes, Todd Sisitsky will take on the role of president. The Goldman Sachs executive who led its consumer banking launch is set to depart, per the Financial Times. Get the latest on his exit.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 24th, 2021

Wisconsin Inno Under 25: The 2021 rising tech leaders to watch

Even with a relatively nascent technology and startup scene compared with other states, Wisconsin has some impressive young innovators. From founders raising hundreds of thousands of dollars to fund their early-stage companies to student inventors filing patents for their novel creations, there are bright, emerging entrepreneurs in Madison, Milwaukee and other corners of the state. As Wisconsin builds its innovation ecosystem, a constant flow of new founders, creators and technologists emerge.….....»»

Category: topSource: bizjournalsSep 24th, 2021

With $21M in new funding, Philadelphia tech startup projects 1000% growth this year

Sales team compensation tracking startup QuotaPath is projecting 1,000% revenue growth in 2021, signaling a quick rise for the Philadelphia startup after a recent Series A funding round. The startup is already most of the way there. QuotaPath has had 800% revenue growth since the beginning of 2021, co-founder and CEO AJ Bruno told the Philadelphia Business Journal. He declined to share specific revenue figures. “I think we'll get to 1,000% year-over-year growth by the end of this year, which….....»»

Category: topSource: bizjournalsSep 23rd, 2021

4 Tips To Prepare You For Business Success

Few career paths are as versatile as a career in business, and whether your primary goal is to make a lot of money, to always have engaging work or to help others, you can do that. With a degree and a background in business, you can climb to the top ranks of a multinational corporation, […] Few career paths are as versatile as a career in business, and whether your primary goal is to make a lot of money, to always have engaging work or to help others, you can do that. With a degree and a background in business, you can climb to the top ranks of a multinational corporation, run your own tech startup, take over the family business or advise people from marginalized backgrounds or in developing countries about how to best run their small companies. Do you hope to eventually pursue a career in law or politics? Business is a great foundation for just about any type of career. It will give you a grasp on the basics of accounting, management, marketing and other areas that are critical to almost every type of organization. And if you’re just starting to consider going to college, there’s a lot you can do to prepare. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more Do A Self-Inventory This isn't something you'll do once. It's something you should do continually throughout your career because you will grow and change over time. If you don't periodically take a personal inventory and review where you are and where you want to be, you may look up one day and find you're stagnating in a position that you used to think was perfect. Think hard about the kinds of things that make you happy. As mentioned above, you can do a lot of different things in business, and one doesn't necessarily exclude the other. After all, some of the world's wealthiest people are also some of the greatest philanthropists. Thinking about your values and what you want to accomplish in your career is important, but it's also important to consider your temperament. For example, do you thrive in a fast-paced, challenging, ever-changing environment, or do you prefer things to be quieter and more predictable? If you love dealing with numbers and the former is true for you, you might thrive as an investment banker. If the latter is true, working as an accountant in a relatively conservative industry, such as insurance, might suit you. The key is to keep in mind that what appeals to you now may not in 10 years, so always be open to change. Get Your Degree Getting an undergraduate degree is an important step. Don't worry about an MBA just yet. In certain fields, it will be beneficial to get one eventually, but this is not true of every career path, and anyway, you should have some work experience before you embark on an MBA. For now, just focus on your bachelor's. One of the first things you'll need to figure out is how to pay for it. There should be a number of different resources available to you. You could apply for federal aid and for scholarships. You could also take out a student loan from a private lender. One thing that makes these loans particularly helpful is that they are not based on need, unlike federal loans. You can use a student loan repayment calculator to calculate what your payments will be like after you graduate. You can spend some time taking classes before you decide what area you want to major in. Some people know exactly what they want to do. They are absolutely dedicated to a career in marketing or finance. Others may be uncertain. Accounting, business administration or even a different type of degree, such as economics or math, are all fairly versatile. You can always pick up skills on the job if you end up working in an area that is different from what you majored in. Work On Soft Skills You need to develop your soft skills as well. This includes such skills as communication, leadership and empathy. Some people may say that these cannot be taught, but this is not true. Just because some people may seem to be natural leaders or communicators doesn't mean that you can't learn how to do these things well. College is the perfect time to start working on these skills. If you're still in high school, you can even do it then. Communications classes can improve your speaking and writing skills. Getting involved in student organizations can help you become a better leader. Just talking to different types of people, especially people who are different from you, can help you improve your empathy and communication. Network Networking is a soft skill in and of itself, or perhaps it is more accurate to say it is a combination of several soft skills. However, you look at it, it deserves its own category because it truly is the heart and soul of business success. The most successful people are not those who burn their bridges behind them everywhere they go but those who create relationships and build referral networks that can last a lifetime. For many people, this begins while still in school. You can network with fellow ambitious students and with your professors. Your school might be able to put you in touch with an alumni network or pair you with a mentor. Practice going to business events, seminars and conferences and getting to know people. Listen to what they have to say to you with interest. Online offers another great networking opportunity. Follow the industry and thought leaders that you most admire on social media. Some of them are very generous with their time, answering questions from others, but you can learn even from those who are not. In both online and real-life interactions, try listening to people more than you talk. Updated on Sep 23, 2021, 5:08 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkSep 23rd, 2021

Former U.S. Defense Secretary James Mattis Testifies in Elizabeth Holmes Fraud Trial

Mattis joined the Theranos board of directors in 2013, though he had no medical background, and invested in the company (SAN JOSE, Calif.) — Former U.S. Secretary of Defense James Mattis testified Wednesday in the trial of fallen tech star Elizabeth Holmes, saying the entrepreneur misled him into believing she was on the verge of rolling out a blood-testing breakthrough that he hoped would help save lives of troops in battle. Mattis’ appearance came during the sixth day of a high-profile trial in San Jose, California. The U.S. government alleges that Holmes duped sophisticated investors, patients and customers into believing that her startup, Theranos, had developed a technology that could scan for an array of potential health problems with just a few drops of blood. Existing tests generally each require a vial of blood. [time-brightcove not-tgx=”true”] During more than three hours of maskless testimony delivered behind plexiglass, Mattis recalled how impressed he was with Holmes when he first met her in 2011 while still serving a four-star general in the Marine Corps, where he oversaw U.S. wars in Iraq and Afghanistan. A few months after retiring from the military in 2013, Mattis joined the Theranos board and also invested some of his own savings in the startup. In 2017, Mattis joined the cabinet of President Donald Trump. Mattis, nicknamed “Mad Dog,” while he was in the military, testified that Holmes initially struck him as a “sharp, articulate, committed” CEO who drew his interest when she described the compact blood-testing machine called Edison that Theranos was developing. Holmes assured him that the Edison would be able to scan for health problems with just a finger prick — a concept that Mattis testified he found “pretty breathtaking'” for its potential applications in the field of battle. “I’m strong believer in what you have designed/built and hope we can get it in the theater soon to test it,” Mattis wrote in a March 2013 email shortly before he retired from the military. In other emails, Mattis affectionately addressed Holmes as “young Elizabeth.” While cross-examining Mattis, a lawyer for Holmes showed a July 2013 email from the retired general that suggested he had muted expectations for Theranos’ impact on the military. “U.S. military may be a customer but likely not immediately, or in a big way,” Mattis wrote while seeking clearance to be on the Theranos board. In another email presented by government prosecutors during Mattis’ testimony, Holmes encouraged his belief in what Theranos could do for the military. “This initiative is a small way of being able to serve and we will do whatever it takes to make it successful,” Holmes assured him in her email. As Mattis testified, Holmes watched him intently without displaying much emotion. Holmes maintains her innocence, arguing she poured her life into an invention that she sincerely believed would revolutionize medicine yet failed in her quest. Holmes, 37, ended up convincing Mattis, 71, to join the Theranos board of directors later in 2013, even though he had no medical background. Mattis testified that Holmes wanted him on the board to help teach her about leadership and team building. Besides joining the board, Mattis said he also decided to invest $85,000 of his own savings so he would have some “skin in the game.” Theranos paid him $150,000 annually as a board member, according to evidence submitted Wednesday by Holmes’ lawyers, though Mattis testified he told Holmes he would do it for free because “I believe in what you are doing.” By the time he left Theranos in late 2016, Mattis testified he had lost faith in Holmes. His disillusionment began a year earlier after a series of explosive articles published in The Wall Street Journal exposed troubling flaws and inaccuracies in Theranos’ blood-testing technology. Those revelations triggered Theranos’ downfall and culminated in the criminal case against Holmes, which could send her to prison for up to 20 years if she is convicted. “There became a point where I didn’t know what to believe about Theranos any more,” Mattis said, although he couldn’t pinpoint a precise date when he lost faith in Holmes. Mattis isn’t the only well-known board member or investor who became enthralled with Holmes and Theranos. Theranos’ other board members included other former Cabinet members such as the late George Shultz, Henry Kissinger, William Perry and former Wells Fargo Bank CEO Richard Kovacevich. The list of billionaire investors that once valued the privately held company at $9 billion — with half of the stock owned by Holmes — included media mogul Rupert Murdoch, Walmart’s Walton family and Oracle co-founder Larry Ellison. Some of them are expected to testify during a trial scheduled to run through Dec. 17......»»

Category: topSource: timeSep 23rd, 2021