Goldman nabs AWS exec - Wall Street all-in on cloud - China's indefinite crackdown
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On the agenda today:
- Goldman Sachs just hired a top engineer from Amazon Web Services.
- Wall Street is all-in on the cloud - but one thing stands in the way of its widespread adoption.
- China has signalled that its tech crackdown is nowhere near over.
Let's get started.
Goldman Sachs just poached an AWS exec
Goldman Sachs just gained a top engineer from Amazon Web Services, as the bank leans more into cloud technology. Kamlesh Talreja will join as a partner and cohead of engineering for asset management. More on that hire here.
A Buffett-backed Brazilian fintech firm is eyeing a $2 billion US IPO
Brazilian digital bank Nubank, which is backed by legendary investor Warren Buffett's company, is planning an initial public offering of more than $2 billion in the US stock market. Everything we know so far.
Wall Street is all-in on the public cloud
A recent survey from Google Cloud shows public-cloud adoption on Wall Street is gaining steam. But regulatory uncertainty, which heightened over the past year, remains a threat to its widespread adoption. Here's what Google Cloud is doing to fix that.
Crypto and blockchain investments in 2021 exceed record
New data from KPMG show that cryptocurrency and blockchain investments this year have already surpassed 2020's record total. The surge can partially be attributed to increased institutional adoption, while venture capital and NFTs have also played a role. See this year's figures so far.
Fund managers are swapping traveling salespeople for remote teams
Asset managers like BlackRock and Invesco are changing the way they sell funds to advisors. Instead of hiring traveling salespeople, managers say they expect to fill more hybrid roles that mesh in-person and digital interactions. Here's how the shakeup is impacting pay and hiring.
China signals its tech crackdown isn't ending anytime soon
China's tech crackdown will likely persist - and tougher rules will be implemented for other key industries - according to a five-year blueprint the country issued on Wednesday. Here's what you can expect.
LA County's pension fund just delayed its return-to-office plans
The Los Angeles County Employees Retirement Association has pushed back its return-to-office date to October after two staffers contracted Covid-19. It's just the latest employer to delay its office reopening as the Delta variant throws a wrench in planning.
On our radar:
- A Dutch family that sold all their assets to buy bitcoin in 2017 say they're stashing their holdings in six secret locations around the world.
- MBA grads are often warned not to take jobs in venture. Three young VCs tell us why they did it anyway.
- Per the Wall Street Journal, Goldman Sachs and other major financial firms are funding a new program to help diversify Wall Street.
- A new invite-only app will let viewers trade stocks as they watch finance influencers livestream. Check out the Twitch-style platform.
- The Wall Street Journal reported Jump Trading Group is building a team to execute stock orders for individual investors. Here's why that matters.
- This year's epic surge in lumber sent cheese prices to a 15-month low. We explain why.