September, 2023

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Beyoncé's Request to Fans Sparks a Surge in Sales for Small Businesses, Turning Side Hustles Into Major Money-Makers

Entrepreneur - VC

Beyoncé celebrated her birthday by urging fans to wear silver to her concerts during Virgo season. The request sparked a surge in sales for many small business owners. Read more about the Renaissance World Tour's economic impact, here.

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The U.S. Housing Market vs. The Canadian Housing Market

A Wealth of Common Sense

Way back in 2017, I wrote about how bananas Canadian housing prices were. This was the chart I used at the time: Canada basically skipped the housing bust from the Great Financial Crisis. Well, things got even more bananas in the ensuing years. Here’s the updated version: Canadian housing prices can remain irrational longer than you can stay solvent or something like that.

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Trending Sources

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Duckbill Raises $33M in Seed and Series A Funding

FinSMEs

Duckbill, a Boston, MA-based maker of an execution engine that gives people a personal assistant combined with AI’s efficiency, raised $33m in seed and Series A funding. The round was led by Forerunner Ventures, with participation from Greycroft Partners, Inspired Capital, General Catalyst, G9 Ventures, Red Antler, uture Back Ventures by Bain & Company and […] The post Duckbill Raises $33M in Seed and Series A Funding appeared first on FinSMEs.

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Generative AI, SEO, and what leaders should know: Google search in the future

Insight Partners

SEO and content are two of the most important marketing channels used by Insight’s portfolio and forward-looking founders are starting to ask us questions about the impact of generative AI on search results. Our team has been researching the topic, and we believe the impacts will be significant. GenAI will have a transformative effect on users’ search experience, and there will be myriad second-order impacts of that change in the scaleup ecosystem.

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Nobody Knows Anything, Dot Plot Edition

The Big Picture

The September Federal Reserve meeting is behind us we still have November and December ahead of us. Markets are nervous expecting another hike before years over before two cuts in 2024. My advice: ignore those expectations as they have been wildly inaccurate over the past few years; they have been mostly inaccurate over the past decade. When it comes to forecasting economic outcomes, the Fed is no better or worse than anybody else.

Funds 127
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Jeremy Grantham, Bubble Historian

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jeremy Grantham, and Downtown Josh Brown discuss being the “Bubble Historian”, Inflation, Modern Valuations, the Four most Dangerous Words, Real Estate, Impact Investing, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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24 Things I Believe About Investing

A Wealth of Common Sense

Here are some things I believe about investing. 1. I believe simple beats complex. The problem is simple is much harder to implement because complex will always sound more intelligent and appealing. 2. I believe the timing of buy or sell decisions matters less than your holding period. Picking tops and bottoms is for the lucky and the liars. Patiently holding onto your investments is more important for most investors than.

Investing 133
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Prins AI Raises $100M in Series B Funding

FinSMEs

Prins AI, a technology company utilizing advanced AI to create digital identities for enterprises, brands, celebrities, and individuals, closed a $100m Series B financing round. The round was spearheaded by AAB VC. Following the earlier $22m Series A+ and $10m Series A funding, this latest funding further bolsters the company’s financial strength.

Funds 120
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What to Do About These High Interest Rates

Mr. Money Mustache

Whoa, have you seen what just happened to interest rates!? Suddenly, after at least fourteen years of our financial world being mostly the same, somebody flipped over the table and now things are quite different. Interest rates, which have been gliding along at close to zero since before the Dawn of Mustachianism in 2011, have suddenly shot back up to 20-year highs. – Which brings up a few questions about whether we need to worry, or do anything about this new development.

Bidding 112
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MiB: Jon McAuliffe, the Voleon Group

The Big Picture

This week, we speak with Jon McAuliffe , who is co-founder and chief investment officer at the Voleon Group , heading the firm’s investment strategy, research, and development. Previously, he developed and managed statistical arbitrage trading strategies at D.E.Shaw. McAuliffe has a unique track record of successful innovation applying statistical methods to real-life prediction problems, particularly in the financial markets.

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Private equity M&A set to whittle sector down to 100 ‘next-generation’ firms

Financial Times M&A

Split between managers that can raise money and those that cannot will lead to consolidation, predicts Partners Group CEO

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TikTok Is Using New Tracking Software to Keep Tabs on Employees

Entrepreneur - VC

TikTok has reportedly rolled out a new internal software called MyRTO in order to track employees' in-office attendance -- and failure to comply could result in serious consequences.

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Should Your Investment Manager Have Skin in the Game?

A Wealth of Common Sense

A reader asks: My job is to run a concentrated 20 company portfolio (all listed companies, buy and hold, long term horizon etc.). I get a base salary and a bonus for performance. So a good amount of my annual earnings are tied to the performance of the companies I pick. I also have a small personal investment account. My question is around how I should think about investing this – should I use the fact that I spend.

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TRLab Raises US$5M in Seed Funding

FinSMEs

TRLab, a New York-based fine art-focused tech startup, raised US$5M in Seed funding. The round was led by Hivemind Capital Partners and OKX Ventures. HashKey Capital also participated. The company intends to use the funds to on-board additional artists, foundations, and cultural institutions onto its platform, expand its market presence worldwide, and integrate new technologies that improve the digital art […] The post TRLab Raises US$5M in Seed Funding appeared first on FinSMEs.

Funds 120
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ESG ETFs fail to shine over past 10 years

Financial Times: Moral Money

Scientific Beta findings contradict view that sustainable strategies can steer investors towards ‘winners’

Investors 139
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Unemployment Up 0.3% = Fed on Hold

The Big Picture

The Fed is done. It’s unimaginable that they will do anything at the September FOMC meeting, and barring any radical change in the data, it’s unlikely they will be doing anything in November. I have been saying since June 2022 that inflation had peaked; the data has been leaning that way since May 2022. If you were watching the video instead of the still pic , it was apparent that the biggest risk to the economy then was less rising prices than a tardy FOMC over-tightening.

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Private equity firms pivot away from traditional buyouts

Financial Times M&A

Blackstone and Apollo executives talk up scope to expand into private credit and infrastructure investing

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12 Reasons You Need a Business Plan

Entrepreneur - VC

In the new book "Write Your Own Business Plan," business expert Eric Butow breaks down how a solid business plan can save your startup during those tough early days.

Startups 139
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Where the Housing Bubbles Are

A Wealth of Common Sense

Jeremy Grantham was on The Compound and Friends with Michael and Josh last week talking bubbles. [link] says real estate is a global bubble and prices should fall 30% or so. I partially agree and partially disagree with Grantham here. I continue to believe the U.S. housing market is not in a bubble. Is the housing market broken in many way.

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BioLamina Raises €17M in Funding

FinSMEs

BioLamina, a Sundbyberg, Sweden-based company which specializes in the development and commercialization of recombinant proteins, raised €17M in funding. The round was led by Lauxera Capital Partners, with participation from Bure Equity, Northislet, as well as with BioLamina’s founders and executives as shareholders. The company intends to use the funds to expand operations and its R&D sector. […] The post BioLamina Raises €17M in Funding appeared first on FinSMEs.

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How Bernard Looney’s career at BP unravelled

Financial Times: Moral Money

Chief executive’s abrupt exit has left oil major facing questions over its culture

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The Least Bad Choice

The Big Picture

I have been watching various sentiment polls and Right/Wrong Track questionnaires with detached bemusement. Bemused because they are so silly, and detached because I know I can’t change human nature. What I can do is share a few modest insights; hopefully, these will allow you to gain a fresh perspective you might not have otherwise considered or perhaps even garner a better understanding of what is happening right here and now.

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Chelsea FC raises $500mn from Ares

Financial Times M&A

Premier League club joins forces with US alternative asset manager as it looks for ways to boost revenue

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It Can Be Hard Raising Capital For a Small Business — But These 3 Ways Really Work.

Entrepreneur - VC

It can be hard to raise capital for a small local business if you haven't learned the right strategies. Ultimately, however, raising capital is possible at any level — if you employ the correct approach. Here's how.

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How to Outperform

A Wealth of Common Sense

Kerala is a coastal state in India with a large fishing industry. Beginning in 1997, mobile phones were introduced to the region. By 2001 more than 60% of the fishers and traders were using phones to coordinate sales and set prices for the fish. Robert Jensen used data from this market in a research paper called The Digital Provide to show how the addition of more information impacted fish prices in the marketplace.

Financing 113
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Cygnetise Raises £2.5M in Funding

FinSMEs

Cygnetise, a London, UK-based provider of an enterprise grade platform to manage, share and validate signatory data, raised £2.5M in funding. The round was led by Adjuvo with participation from Massive and exiting investors. The company intends to use the funds to expand operations and its business reach across sectors and abroad. Led by CEO Steve Pomfret, Cygnetise […] The post Cygnetise Raises £2.5M in Funding appeared first on FinSMEs.

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EU to ban ‘climate neutral’ claims by 2026

Financial Times: Moral Money

Brussels to crack down on greenwashing of consumer products

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MiB: Elizabeth Burton, Goldman Sachs Asset Management

The Big Picture

This week, we speak with Elizabeth Burton , managing director and client investment strategist at Goldman Sachs Asset Management. She advises institutional clients on investment strategies and portfolio objectives, working alongside global client advisers and product strategists across public and private markets. Previously, she was CIO at the Employees’ Retirement System of the State of Hawaii, and managing director in the quantitative strategies group at the Maryland State Retirement Age

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Moody’s warns of ‘systemic risk’ from leveraged lending market

Financial Times M&A

Rating agency says looming ‘race to the bottom’ between banks and private debt funds could erode credit quality

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Gen Z's Main Career Aspiration Is to Be an Influencer, According to a New Report

Entrepreneur - VC

According to a new report, over half (57%) of Gen Zers would be an influencer on social media given the opportunity, and a similar amount (53%) view influencing as a respectable career choice.

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Maloney Op-Ed in Financial Times: “A power grab against private equity threatens the US economy”

American Investment Council

Today, the Financial Times published the following op-ed from AIC President & CEO Drew Maloney discussing how FTC Chair Lina Khan’s aggressive and misguided regulatory agenda threatens the growth and stability of the US economy by unfairly targeting productive private equity investments. Maloney also highlighted private equity’s essential role in directly employing 12 million Americans, building better businesses, and strengthening the retirements of millions of retirees.

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Lucid Scientific Raises $7M in Series A Financing

FinSMEs

Lucid Scientific, an Atlanta, GA-based life science instruments company, raised $7M in Series A funding. The round, which brought the total amount to $13M, was led by IAG Capital Partners. Additional participants included the Georgia Research Alliance’s Venture Fund, and Dynamk Capital. IAG Venture Partner Dr. Ehsan Jabbarzadeh will join Lucid’s Board of Directors.

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Amundi increases sustainable investments levels on 46 ETFs

Financial Times: Moral Money

Some funds managed by Europe’s largest listed asset manager will rise from 1% to 35%

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Nobody Knows Anything, John Wick edition

The Big Picture

 In 2016, I wrote about the novelist and screenwriter William Goldman, and his delightful book, “ Adventures in the Screen Trade.” He is the Academy award-winning scriptwriter who penned such classics as “Butch Cassidy and the Sundance Kid” (1969), “All the President’s Men” (1976), “Marathon Man” (1974), and the cult-favorite “The Princess Bride (1973).

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