Happy Friday!
Those hoping for a quiet few days in the US markets heading into the long weekend may have been disappointed.
Tech stocks slumped again yesterday, leading the way for a broader stock-market selloff. Apple shares dropped 8% in their sharpest decline since March; Tesla shares tumbled for a third session in a row; and Facebook, Amazon, Microsoft, and Alphabet all sank. Wall Street's favorite fear gauge meanwhile spiked to its highest level since July.
Here's what developers and engineers are getting paid at JPMorgan
Dan DeFrancesco and Alex Nicoll took a look at salary data for JPMorgan's developers and engineers. You can read their roundup here.
How the 13F ecosystem could get thrown into turmoil
In a move bewildering investors and executives, the Securities and Exchange Commission is considering a rule change that would let billionaire fund managers like David Einhorn and Stanley Druckenmiller release four fewer filings a year to the public.
There's an entire ecosystem of investors and researchers who rely on the filings known as 13Fs that reveal institutional investment managers' public-equity holdings at quarters' end. Bradley Saacks and Rebecca Ungarino talked to some of these people to understand why they're so upset. You can read the full story here.
Inside family-office salaries: How secretive wealth managers pay the advisers of the world's richest people
Family offices, the often-secretive investment firms managing wealth for the richest people in the world, are growing in size and complexity. Some are starting to look more like traditional institutional wealth managers — and pushing to hire fresh talent in a competitive market.
Rebecca Ungarino and Natasha Solo-Lyons took a look at a recent report that sheds light on how family offices pay employees, from analysts and bookkeepers to chief executives, in the US and around the world. You can read the full story here.
We're seeking nominations for our first ever Rising Stars of Real Estate — here's how to apply
We're seeking nominations for Business Insider's inaugural list of rising stars of real estate, and we want to hear from you. If you know a hotshot that should be considered, please submit your suggestions via this form.
Odd lots:
- Llama farms, magic shows, and children's storytelling: How Airtable, UiPath, and 22 other multibillion-dollar enterprise startups are maintaining employee morale remotely (Business Insider)
- SoulCycle is now offering private 45-minute rides at its outdoor spin studios during the pandemic — and they start at $1,200 (Business Insider)
- 17 book recommendations from legal industry insiders on everything from the history of the profession to how to scale your practice (Business Insider)
- Ex-Goldman Chief Trading Quant to Join $47 Billion Sixth Street (Bloomberg)
- German prosecutor drops Wirecard investigation into FT reporters (FT)