Blog of the website «TechCrunch» Прогноз погоды

People

John Smith

John Smith, 48

Joined: 28 January 2014

Interests: No data

Jonnathan Coleman

Jonnathan Coleman, 32

Joined: 18 June 2014

About myself: You may say I'm a dreamer

Interests: Snowboarding, Cycling, Beer

Andrey II

Andrey II, 41

Joined: 08 January 2014

Interests: No data

David

David

Joined: 05 August 2014

Interests: No data

David Markham

David Markham, 65

Joined: 13 November 2014

Interests: No data

Michelle Li

Michelle Li, 41

Joined: 13 August 2014

Interests: No data

Max Almenas

Max Almenas, 53

Joined: 10 August 2014

Interests: No data

29Jan

29Jan, 32

Joined: 29 January 2014

Interests: No data

s82 s82

s82 s82, 26

Joined: 16 April 2014

Interests: No data

Wicca

Wicca, 37

Joined: 18 June 2014

Interests: No data

Phebe Paul

Phebe Paul, 27

Joined: 08 September 2014

Interests: No data

Артем Ступаков

Артем Ступаков, 93

Joined: 29 January 2014

About myself: Радуюсь жизни!

Interests: No data

sergei jkovlev

sergei jkovlev, 59

Joined: 03 November 2019

Interests: музыка, кино, автомобили

Алексей Гено

Алексей Гено, 8

Joined: 25 June 2015

About myself: Хай

Interests: Интерес1daasdfasf, http://apple.com

technetonlines

technetonlines

Joined: 24 January 2019

Interests: No data



Main article: Uber

<< Back Forward >>
Topics from 1 to 10 | in all: 1988

US regulators need to catch up with Europe on fintech innovation 

01:12 | 24 January

Alastair Mitchell Contributor
Alastair Mitchell is a partner at multi-stage VC fund EQT Ventures and the fund's B2B sales, marketing and SaaS expert. Ali also focuses on helping US companies scale into Europe and vice versa.
More posts by this contributor

Fintech companies are fundamentally changing how the financial services ecosystem operates, giving consumers powerful tools to help with savings, budgeting, investing, insurance, electronic payments and many other offerings. This industry is growing rapidly, filling gaps where traditional banks and financial institutions have failed to meet customer needs.

Yet progress has been uneven. Notably, consumer fintech adoption in the United States lags well behind much of Europe, where forward-thinking regulation has sparked an outpouring of innovation in digital banking services — as well as the backend infrastructure onto which products are built and operated.

That might seem counterintuitive, as regulation is often blamed for stifling innovation. Instead, European regulators have focused on reducing barriers to fintech growth rather than protecting the status quo. For example, the U.K.’s Open Banking regulation requires the country’s nine big high-street banks to share customer data with authorized fintech providers.

The EU’s PSD2 (Payment Services Directive 2) obliges banks to create application programming interfaces (APIs) and related tools that let customers share data with third parties. This creates standards that level the playing field and nurture fintech innovation. And the U.K.’s Financial Conduct Authority supports new fintech entrants by running a “sandbox” for software testing that helps speed new products into service.

Regulations, if implemented effectively as demonstrated by those in Europe, will lead to a net positive to consumers. While it is inevitable that regulations will come, if fintech entrepreneurs take the action to engage early and often with regulators, it will ensure that the regulations put in place support innovation and ultimately benefit the consumer.

 


0

Uber’s Shin-pei Tsay is coming to TC Sessions: Mobility

00:26 | 24 January

Government and policy experts are among the most important people in the future of transportation. Any company pursuing the shared scooters and bikes business, ride-hailing, on-demand shuttles and eventually autonomous vehicles has to have someone, or a team of people, who can work with cities.

Enter Shin-pein Tsay, the director of policy, cities and transportation at Uber . TechCrunch is excited to announce that Tsay will join us on stage at TC Sessions: Mobility, a one-day conference dedicated to the future of mobility and transportation.

If there’s one person who is at the center of this universe, it’s Tsay. In her current role at Uber, she leads a team of issues experts focused on what Uber calls a “sustainable multi-modal urban future.”

Tsay is also founder. Prior to Uber, she founded a social impact analysis company called Make Public. She was also the deputy executive director of TransitCenter, a national foundation focused on improving urban transportation. She also founded and directed the cities and transportation program under the Energy and Climate Program at the Carnegie Endowment for International Peace.

For the past four years, Shinpei has served as a commissioner for the City of New York Public Design Commission. She is on the board of the national non-profit In Our Backyard.

Stay tuned, we’ll have more speaker announcements in the coming weeks. In case you missed it, TechCrunch has already announced Ike co-founder and chief engineer Nancy Sun, Waymo’s head of trucking Boris Sofman and Trucks VC’s Reilly Brennan will be participating in TC Sessions: Mobility.

Don’t forget that $250 Early-Bird tickets are now on sale — save $100 on tickets before prices go up on April 9; book today.

Students, you can grab your tickets for just $50 here.

 


0

Uber’s self-driving unit starts mapping Washington D.C. ahead of testing

23:53 | 23 January

Uber Advanced Technologies Group will start mapping Washington D.C., ahead of plans to begin testing its self-driving vehicles in the city this year.

Initially, there will be three Uber vehicles mapping the area, a company spokesperson said. These vehicles, which will be manually driven and have two trained employees inside, will collect sensor data using a top-mounted sensor wing equipped with cameras and a spinning lidar. The data will be used to build high-definition maps. The data will also be used for Uber’s virtual simulation and test track testing scenarios.

Uber intends to launch autonomous vehicles in Washington D.C. before the end of 2020.

At least one other company is already testing self-driving cars in Washington D.C. Ford announced in October 2018 plans to test its autonomous vehicles in Washington, D.C. Argo AI is developing the virtual driver system and high-definition maps designed for Ford’s self-driving vehicles.

Argo, which is backed by Ford and Volkswagen, started mapping the city in 2018. Testing was expected to begin in the first quarter of 2019.

Uber ATG has kept a low profile ever since one of its human-supervised test vehicles struck and killed a pedestrian in Tempe, Arizona in March 2018. The company halted its entire autonomous vehicle operation immediately following the incident.

Nine months later, Uber ATG resumed on-road testing of its self-driving vehicles in Pittsburgh, following a Pennsylvania Department of Transportation decision to authorize the company to put its autonomous vehicles on public roads. The company hasn’t resumed testing in other markets such as San Francisco.

Uber is collecting data and mapping in three other cities in Dallas, San Francisco and Toronto. In those cities, just like in Washington D.C., Uber manually drives its test vehicles.

Uber spun out the self-driving car business in April 2019 after closing $1 billion in funding from Toyota, auto-parts maker Denso and SoftBank’s Vision Fund. The deal valued Uber ATG at $7.25 billion, at the time of the announcement. Under the deal, Toyota and Denso are providing $667 million, with the Vision Fund throwing in the remaining $333 million.

 


0

Inside Skip’s plan to appeal San Francisco’s scooter permit decision

19:00 | 22 January

Electric scooter operator Skip is gearing up to appeal San Francisco’s decision to not grant it a permit to operate in the city. When the city’s Municipal Transportation Agency (SFMTA) announced the permit grantees in September, it came as a surprise to Skip, which had previously received a permit to operate as part of the city’s pilot program.

Ahead of the appeal hearing last Thursday, TechCrunch caught up with Skip CEO Sanjay Dastoor to learn about the company’s game plan and why he thinks it can prevail in a battle that other electric scooter providers have lost.

Prior to the city’s decision last year to grant permits to Lime, Uber’s JUMP, Bird’s Scoot and Ford’s Spin, Skip was one of only two companies operating shared electric scooter services in San Francisco. Leading up to the new permitting application process, Skip said it had been working to ensure its electronic locks would be fully integrated by the beginning of the new permit period, Dastoor told TechCrunch. The company did this with guidance from the SFMTA, so when Skip was denied a permit, the team was caught off guard.

“It was a huge surprise,” Dastoor said. “We found out basically the same time as the press did that we didn’t get that permit, so it was pretty surprising to all of us.”

 


0

Goldman Sachs’s CEO just called WeWork’s pulled IPO — which Goldman was underwriting — proof that the market works

05:05 | 22 January

It’s hard to put a positive spin on terrible situation, but that didn’t stop Goldman Sachs CEO David Solomon earlier today. Asked during a session at the World Economic Forum in Davos about WeWork’s yanked IPO in September,  Solomon suggested it was proof that the listing process works, despite that the CFO of Goldman — one of the offering’s underwriters — disclosed last fall that the pulled deal cost the bank a whopping $80 million.

Reuters was on the scene, reporting that Solomon acknowledged the process was “not as pretty as everybody would like it to be,” while also eschewing any responsibility, telling those gathered that the “banks were not valuing [WeWork]. Banks give you a model. You say to the company, ‘Well, if you can prove to us that the model actually does what it does, then it’s possible that the company is worth this in the public markets,'” Solomon said.

Investment banks had reportedly courted WeWork’s business by discussing a variety of figures that led cofounder Adam Neumann to overestimate how it might be received by public market shareholders. According to the New York Times, in 2018, JPMorgan was telling Neumann that it could find buyers to value the company at more than $60 billion; while Goldman Sachs said $90 billion was a possibility, and Morgan Stanley — which has been assigned as lead underwriter of many of the buzziest tech offerings over the last decade — reportedly posited that even more than $100 billion was possible.

Ultimately, the IPO was canceled several weeks after Neumann was asked to resign and WeWork’s biggest investor, SoftBank — which itself nearly tripled the company’s private market valuation across funding rounds — stepped in to ostensibly rescue the company (and its now $18.5 billion investment in it.

Solomon isn’t the only one defending some of the frustrating logic of IPO pricing in recent years. This editor sat down in November with Morgan Stanley’s head tech banker Michael Grimes, who has been called “Wall Street’s Silicon Valley whisperer” for landing a seemingly endless string of coveted deals for the bank.

Because Morgan Stanley pulled out of the process of underwriting WeWork’s IPO (reportedly after WeWork rejected its pitch to be the company’s lead underwriter), we talked with Grimes instead about Uber, whose offering last year Morgan Stanley did lead. We asked how Uber could have been told reportedly by investment bankers that its valuation might be as high as $120 billion in an IPO when, as we now know, public market shareholders deemed it worth far less. (Its current market cap is roughly half that amount, at $64 billion.)

Grimes said matter-of-factly that price estimates can routinely be all over the place, explaining that “if you look at how companies are valued, at any given point of time right now, public companies with growth prospects and margins that are not yet at their mature margin, I think you’ll find on average price targets by either analysts who work at banks or buy-side investors that can be 100%, 200% and 300% different from low to high.”

He called that a “typical spread.”

The reason, he said, had to do with each bank’s or analyst’s guess at “penetration.”

“Let’s say, what, 100 million people or so [worldwide] have have been monthly active users of Uber, somewhere in that range,” said Grimes during our sit-down “What percentage of the population is that? Less than 1% or something. Is that 1% going to be  2%, 3%, 6%, 10%, 20%? Half a percent, because people stop using it and turn instead to some flying [taxi]?

“So if you take all those variable, possible outcomes, you get huge variability in outcome. So it’s easy to say that everything should trade the same every day, but [look at what happened with Google]. You have some people saying maybe that is an outcome that can happen here for companies, or maybe it won’t. Maybe they’ll [hit their] saturation [point] or face new competitors.”

Grimes then turned the tables on reporters and others in the industry who wonder how banks could get the numbers so wrong, with Uber but also with a lot of other companies. “It’s really easy to be a pundit and say, ‘It should be higher’ or ‘It should be lower,’” Grimes said. “But investors are making decisions about that every day.”

Besides, he added, “We think our job is to be realistically optimistic” about where things will land. “If tech stops changing everything and software stops eating the world, there probably would be less of an optimistic bias.”

 


0

Equity: Uber sells its Eats business in India, Qonto raises, and Tesla says no

18:14 | 21 January

Good morning friends, and welcome back to TechCrunch’s Equity Monday, a short-form audio hit to kickstart your week. Equity’s regular, long-form shows still land each and every Friday, including this entry from just a few days ago.

This morning, coming to you early from the frozen tundra of the American East Coast, it’s Tuesday. That’s because yesterday was a holiday in the United States, so we took the day to work a little bit less than usual. But that doesn’t mean we’d skip an episode, so let’s dive into topics:

  • Uber is cutting its losses in India, selling its Eats business for a stake in Zomato. Zomato is well-funded, and Uber now loses less money. However, where it will find growth is thits next question.
  • Earnings season is upon us. This week Netflix, IBM, and Intel will announce their results. Naturally, those aren’t the companies that we care about the most on Equity, but they are big enough to generate quite a lot of noise. Noise that will help set market sentiment regarding technology companies, both public and private.
  • Also on the news front, Tesla is saying ‘no’ to reports that its cars accelerate without input.
  • Qonto, a French neobank, has raised a $115 million Series C. That’s a huge round for a neat company that is taking a popular model in a fresh direction.
  • Stasher is a neat company in that it must make sense, even if your humble servant doesn’t really get it. It raised $2.5 million more.
  • Captrace also put together a round, though we don’t know how large. What happens if you cross the cap table with blockchain? We may find out.
  • Finally, a reminder as to why Uber is leaving Eats in India behind. Globally, Uber Eats turned $3.66 billion in GMV into $392 million in adjusted net revenue in Q3 2019. That wound up generating -$316 million in adjusted EBITDA. Damn.

And that was all the time that we had. We’re back Friday, and Monday.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts.

 


0

Glovo exits the Middle East and drops two LatAm markets in latest food delivery crunch

18:00 | 21 January

The new year isn’t even a month old and the food delivery crunch is already taking big bites. Spain’s Glovo has today announced it’s exiting four markets — which it says is part of a goal of pushing for profitability by 2021.

Also today, Uber confirmed rumors late last year by announcing it’s offloading its Indian Eats business to local rival Zomato — which will see it take a 9.99% stake in the Indian startup.

In other recent news Latin America focused on-demand delivery app Rappi announced 6% staff layoffs.

On-demand food delivery apps may be great at filling the bellies of hungry consumers fast but startups in this space have yet to figure out how to deliver push-button convenience without haemorrhaging money at scale.

So the question even some investors are asking is how they can make their model profitable?

Middle East exit

The four markets Glovo is leaving are Turkey, Egypt, Uruguay and Puerto Rico.

The exits mean its app footprint is shrinking to 22 markets, still with a focus on South America, South West Europe, and Eastern Europe and Africa.

Interestingly, Glovo is here essentially saying goodbye to the Middle East — despite its recent late stage financing round being led by Abu Dhabi state investment company, Mubadala. (It told us last month that regional expansion was not part of Mubadala’s investment thesis.)

Commenting on the exits in a statement, Glovo co-founder and CEO, Oscar Pierre, said: “This has been a very tough decision to take but our strategy has always been to focus on markets where we can grow and establish ourselves among the top two delivery players while providing a first-class user experience and value for our Glovers, customers and partners.”

Last month Pierre told us the Middle East looks too competitive for Glovo to expand further.

In the event it’s opted for a full exit — given both Egypt and Turkey are being dropped (despite the latter being touted as one of Glovo’s fastest growing markets just over a year ago, at the time of its Series D).

“Leaving these four markets will help us to further strengthen our leadership position in South West and Eastern Europe, LatAm and other African markets, and reach our profitability targets by early 2021,” Pierre added.

Glovo said its app will continue to function in the four markets “for a few weeks” after today — adding that it’s offering “support and advice to couriers, customers and partners throughout this transition”.

“I want to place on record our thanks to all of our Glovers, customers and partners in the markets from which we’re withdrawing for their hard work, dedication, commitment and ongoing support,” Pierre added.

The exits sum to Glovo withdrawing from eight out of a total 306 cities.

It also said the eight cities collectively generated 1.7% of its gross sales in 2019 — so it’s signalling the move doesn’t amount to a major revenue hit.

The startup disclosed a $166M Series E raise last month — which pushed the business past a unicorn valuation. Pierre told us then that the new financing would be used to achieve profitability “as early as 2021”, foreshadowing today’s announcement of a clutch of market exits.

Glovo has said its goal is to become the leading or second delivery platform in all the markets where it operates — underlining the challenges of turning a profit in such a hyper competitive, thin margin space which also involves major logistical complexities with so many moving parts (and people) involved in each transaction.

As food delivery players reconfigure their regional footprints — via market exits and consolidation — better financed platforms will be hoping they’ll be left standing with a profitable business to shout about (and the chance to grow again by gobbling up less profitable rivals or else be consumed themselves). So something of a new race is on.

Back in November in an on-stage interview at TechCrunch Disrupt Berlin, Uber Eats and Glovo discussed the challenges of turning a profit — with Glovo co-founder Sacha Michaud telling us he expects further consolidation in the on-demand delivery space. (Though the pair claimed there had been no acquisition talks between Uber and Glovo.)

Michaud said then that Glovo is profitable on a per unit economics basis in “some countries” — but admitted it “varies a lot country by country”.

Spain and Southern Europe are the best markets for Glovo, he also told us, confirming it generates operating profit there. “Latin America will become operation profitable next year,” he predicted.

Glovo’s exit from Egypt actually marks the end of a second act in the market.

The startup first announced it was pulling the plug on Egypt in April 2019 — but returned last summer, at the behest of its investor Delivery Hero (a rival food delivery startup which has a stake in Glovo), according to Michaud’s explanation on stage.

However there was also an intervention by Egypt’s competition watchdog. And local press reported the watchdog had ordered Glovo to resume operations — accusing it and its investor of colluding to restrict competition in the market (Delivery Hero having previously acquired Egyptian food delivery rival, Otlob).

What the watchdog makes of today’s announcement of a final bow out could thus be an interesting wrinkle.

Asked about Egypt, a Glovo spokesperson told us: “Egypt has been a very complex market for us, we were sad to leave the first time and excited to return when we did so last summer. However, our strategy has always been to be among the top two delivery players in every market we enter and have a clear path to profitability. Unfortunately, in Egypt there is not a clear path to profitability.”

Whither profitability?

So what does a clear path to profitability in the on-demand delivery space look like?

Market maturity/density appears to be key, with Glovo only operating in one city apiece in the other two markets it’s leaving, Uruguay and Puerto Rico, for example — compared to hundreds across its best markets, Spain and Italy, where it’s operating out of the red.

This suggests that other markets in South America — where Glovo similarly has just a toe-hold, of a single or handful of cities, and less time on the ground, such as Honduras or Panama — could be vulnerable to further future exits as the company reconfigures to try to hit full profitability in just around a year’s time.

But there are likely lots of factors involved in making the unit economics stack up so it’s tricky to predict.

Food delivered on-demand makes up the majority of Glovo’s orders per market but its app also touts being able to deliver ‘anything’ — from groceries to pharmaceuticals to the house keys you left at home — which it claims as a differentiating factor vs rival food-delivery-only apps.

A degree of variety also looks to be a key ingredient in becoming a sustainable on-demand delivery business — as scale and cross selling appear to where the unit economics can work.

Groceries are certainly a growing focus for Glovo which has been investing in setting up networks of dark supermarkets to support fast delivery of convenience style groceries as well as ready-to-eat food — thereby expanding opportunities for cross-selling to its convenience-loving food junkies at the point of appetite-driven (but likely loss-making) lunch and dinner orders.

Last year Michaud told us that market “maturity” supports profitability. “At the end of the day the more orders we have the better the whole ecosystem works,” he said.

While Uber Eats’ general manager for Northern and Eastern Europe, Charity Safford, also pointed to “scale” as the secret sauce for still elusive profits.

“Where we start to see more and more trips happening this is definitely where we see the unit economics improving — so our job is really to figure out all of the use cases we can put into people’s hands to get that application used as much as possible,” she said.

It’s instructive that Uber is shifting towards a ‘superapp’ model — revealing its intent last year to fold previously separate lines of business, such as rides and Eats, into a single one-stop-shop app which it began rolling out last year. So it’s also able to deliver or serve an increasing number of things (and/or services).

The tech giant has also been testing subscription passes which combine access to a range of its offerings under one regular payment. While Glovo launched a ‘Prime’ monthly subscription offering unlimited deliveries of anything its couriers can bike around for a fixed monthly cost back in 2018.

When it comes to the quest for on-demand profitability all roads so seem to lead to trying to become the bit of Amazon’s business that Amazon hasn’t already built out and swiped.

 


0

Uber sells food delivery business in India to Zomato

05:51 | 21 January

Uber said on Tuesday it has sold its food delivery business, UberEats, in India to local rival Zomato as the American ride-hailing giant continues to shed lossmaking operations and become profitable by next year.

As part of the deal, Uber would own 9.99% of Zomato, the companies said. The deal valued Uber Eats’ India business between $300 million and $350 million, a person familiar with the matter told TechCrunch. TechCrunch reported last month that the two were in advanced stages of talks for a deal.

Satish Meena, an analyst at Forrester, told TechCrunch that despite the Uber deal, Zomato still lags Prosus Ventures -backed Swiggy, which services more number of orders each day.

More to follow…

 


0

Max Q: SpaceX succeeds with a spectacular Crew Dragon test launch

16:08 | 20 January

Max Q is a new weekly newsletter all about space. Sign up here to receive it weekly on Sundays in your inbox.

We’re off and running with good milestones achieved for NASA’s commercial crew program, which means it’s more likely than ever we’ll actually see astronauts launch from U.S. soil before the year is out.

If that’s not enough to get you pumped about the space sector in 2020, we also have a great overview of 2019 in space tech investment, and a look forward at what’s happening next year from Space Angels’ Chad Anderson. Plus, we announced our own dedicated space event, which is happening this June.

SpaceX successfully tests Crew Dragon safety system

SpaceX launched its Crew Dragon commercial astronaut spacecraft on Sunday. No one was on board, but the test was crucial because it included firing off the in-flight abort (IFA) safety system that will protect actual astronauts should anything go wrong with future real missions.

The SpaceX in-flight abort test included this planned fireball, as the Falcon 9 rocket it launched upon broke up.

The IFA seems to have worked as intended, propelling the Crew Dragon away from the Falcon 9 it was launched on top of at high speed. In an actual emergency, this would ensure that the astronauts aboard were transported to a safe distance, and then returned to Earth at a safe speed using the onboard parachutes, which seem to have deployed exactly as planned.

Elon Musk details Starship operational plans

SpaceX CEO Elon Musk is looking a bit further ahead, in the meantime, to when his company’s Starship spacecraft is fully operational and making regular trips to Mars. Musk said he wants to be launching Starships as much as thrice daily, with the goal of moving megatons of cargo and up to a million people to Mars at full target operating pace.

SpinLaunch raises $35M more for catapult launcher

Secretive space launch startup SpinLaunch is adding to its operating capital with a new $35 million investment, a round led by Airbus Ventures, GV and more. The company wants to use rotational force to effectively fling payloads out of Earth’s atmosphere – without using any rockets. Sounds insane, but I’ve heard from people much smarter than me that the company, and the core concept, is sound.

What 2020 holds for space startup invesment

I spoke to Space Angels CEO Chat Anderson about his company’s quarterly tracking of private investment in the space technology sector, which they’ve been doing since 2017. They’re uniquely well-positioned to combine data from both public sources and the companies they speak to, and perform due diligence on, so there’s no better place to look for insight on where we’ve been, and an educated perspective on where we’re going. (ExtraCrunch subscription required).

Rocket Lab is expanding its LA presence

Rocket Lab was born in New Zealand, and still operates a facility and main launch pad there, but it’s increasingly building out its U.S. presence, too. Now, the company shared its plans to build a combined HQ/Mission Control/rocket fab facility in LA. Construction is already underway, and it should be completed later this year.

Orbex lands a new customer with lots of rideshare mission experience

‘Rideshare’ in space means something entirely different than it does on Earth – you’re not hailing an Uber, you’re booking one portion of cargo space aboard a rocket with a group of other clients. Orbex has a new customer that bought up all the capacity for one of its future rideshare missions, planned for 2022. The new launch provider hasn’t actually launched any rockets, however, so it’ll have to pass that key milestone before it makes good on that new contract.

We’re having a space event!

Yes, it’s official: TechCrunch is hosting its on space-focused tech event on June 25 in LA. This will be a one-day, high-profile program featuring discussions with the top companies and people in space tech, startups and investment. We’ll be revealing more about programming over the next few months, but if you get in now you can guarantee your spot.

 


0

What we know (and don’t) about Goldman Sachs’ Africa VC investing

22:30 | 16 January

Goldman Sachs is investing in African tech companies. The venerable American investment bank and financial services firm has backed startups from Kenya to Nigeria and taken a significant stake in e-commerce venture Jumia, which listed on the NYSE in 2019.

Though Goldman declined to comment on its Africa VC activities for this article, the company has spoken to TechCrunch in the past about specific investments.

Goldman Sachs is one of the most enviable investment banking shops on Wall Street, generating $36 billion in net revenues in 2019, or roughly $1 million per employee. It’s the firm that always seems to come out on top, making money during the financial crisis while its competitors were hemorrhaging. For generations, MBAs from the world’s top business schools have clamored to work there, helping make it a professional incubator of sorts that has spun off alums into leadership positions in politics, VC and industry.

All that cache is why Goldman’s name popping up related to African tech got people’s attention, including mine, several years ago.

 


0
<< Back Forward >>
Topics from 1 to 10 | in all: 1988

Site search


Last comments

Walmart retreats from its UK Asda business to hone its focus on competing with Amazon
Peter Short
Good luck
Peter Short

Evolve Foundation launches a $100 million fund to find startups working to relieve human suffering
Peter Short
Money will give hope
Peter Short

Boeing will build DARPA’s XS-1 experimental spaceplane
Peter Short
Great
Peter Short

Is a “robot tax” really an “innovation penalty”?
Peter Short
It need to be taxed also any organic substance ie food than is used as a calorie transfer needs tax…
Peter Short

Twitter Is Testing A Dedicated GIF Button On Mobile
Peter Short
Sounds great Facebook got a button a few years ago
Then it disappeared Twitter needs a bottom maybe…
Peter Short

Apple’s Next iPhone Rumored To Debut On September 9th
Peter Short
Looks like a nice cycle of a round year;)
Peter Short

AncestryDNA And Google’s Calico Team Up To Study Genetic Longevity
Peter Short
I'm still fascinated by DNA though I favour pure chemistry what could be
Offered is for future gen…
Peter Short

U.K. Push For Better Broadband For Startups
Verg Matthews
There has to an email option icon to send to the clowns in MTNL ... the govt of India's service pro…
Verg Matthews

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short