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<ul class="summary-list"><li>SoftBank-backed glassmaker <keyword id="21250775" type="General" weightage="20" keywordseo="View" source="keywords" meta.keywordsubtype="org" meta.entityname="View" meta.hostid="261" meta.entityid="View">View</keyword> filed for <keyword id="19903649" type="General" weightage="20" keywordseo="bankruptcy" source="keywords">bankruptcy</keyword> in April, 3 years after its SPAC.</li><li><keyword id="23006643" type="General" weightage="100" keywordseo="CEO-Rao-Mulpuri" source="keywords">CEO Rao Mulpuri</keyword> has stepped down from View which was taken private by two <keyword id="19900618" type="General" weightage="20" keywordseo="investors" source="keywords">investors</keyword>.</li></ul>Five months after glassmaker View <a target="_blank" href="https://www.businessinsider.com/softbank-backed-view-files-bankruptcy-spac-struggles-2024-4">filed for bankruptcy</a>, CEO Rao Mulpuri has stepped down. Under his tenure, View raised $1.1 billion from <keyword id="19944037" type="General" weightage="20" keywordseo="SoftBank" source="keywords" meta.keywordsubtype="org" meta.entityname="SoftBank" meta.hostid="261" meta.entityid="SoftBank">SoftBank</keyword> in 2018 and went public in 2021. It struggled as a public company and <a target="_blank" href="https://www.businessinsider.com/view-inc-rao-mulpuri-spac-smart-glass-2022-6">ran low on cash</a> several times before declaring bankruptcy in April. Mulpuri announced his departure on Thursday night in a memo to employees which he also posted on <a target="_blank" href="https://www.linkedin.com/feed/update/urn:li:activity:7235077660702294016/">LinkedIn</a>. "After 15 incredible years, I have decided it's time to leave View Inc. What a ride it has been! A journey of a lifetime, filled with many ups and downs, but never a dull moment," he wrote. View makes eco-friendly windows that darken when it's sunny, reducing energy costs for air conditioning. The Milpitas, California-based firm filed for Chapter 11 bankruptcy to reorganize without liquidating all its assets. Two of View's longtime investors Cantor Fitzgerald and real estate firm RXR have taken the company private. Cantor sponsored the special purpose acquisition company that merged with View to take it public, raising $815 million. On August 22, the financial-services firm agreed to a $12 million settlement to end a lawsuit by SPAC investors who alleged they were misled. Cantor did not reply to a request for comment in time for publication. According to a separate memo sent to employees Friday morning, two board members will run View as co-CEOs: Joshua Spellman, chief of staff at Cantor, and Andrew Min, a senior vice president at RXR. Mulpuri has led View since 2008, replacing one of the firm's cofounders. Previously he led Japanese semiconductor manufacturer Novellus Systems. He is known for his magic touch with investors, managing to raise cash for View multiple times when funds ran low, including from the now-bankrupt financier Greensill Capital. "He's always been able to pull a rabbit out of a hat when it comes to procuring more money for the company," one banker familiar with View previously told Business Insider. In 2022, BI spoke with 29 former and current <a target="_blank" href="https://www.businessinsider.com/softbank-view-inc-rao-mulpuri-spac-investigation-2022-6?r=VIEWinc-teaser&amp;utm_medium=referral&amp;utm_source=yahoo.com">View employees</a>. They described a culture of micromanagement and said they were afraid of being fired. Mulpuri obsessively monitored tweets and LinkedIn posts about View and asked people to write positive reviews of the company on Glassdoor, multiple former employees said. Two former employees in the corporate office said View staff called him "Chairman Rao," an inside joke rhyming his name with the Chinese communist leader Mao Zedong. "If you didn't agree with the company's potential or the rosy picture, or how we were going to revolutionize and change the world, you were kept on the outside," one of the employees said. Mulpuri did not comment in time for publication. In his note, he hinted that he will return to the startup industry. He would be "back in the saddle" building things "sooner than later," he wrote. "Stay tuned..." Correction: August 30, 2024 — An earlier version of this story misdescribed one of View's investors. Cantor Fitzgerald is a financial-services firm, not a law firm.

View CEO Rao Mulpuri, who saw the glassmaker go from investor darling to declaring bankruptcy, has resigned

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Labor Day! I'm Jordan Parker Erb, filling in for Dan DeFrancesco. In observance of the US holiday, we have a shorter edition of the newsletter. (It is Labor Day, after all.) We'll be back in full force tomorrow.Speaking of labor, in today's big story we're looking at the <a target="_blank" href="https://www.businessinsider.com/fastest-growing-jobs-employment-projections-renewable-energy-healthcare-analysts-2024-8">fastest-growing</a> (and <a target="_blank" href="https://www.businessinsider.com/fastest-shrinking-jobs-us-typists-operators-assemblers-telemarketers-data-entry-2024-8">fastest-shrinking</a>) jobs in the United States.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Get 'em while they're hot</h2><div type="image" title="Photo illustration of suitcases with growth and shrink arrows" height="1440" width="1920" msid="112998272" hostid="261" sizebytes="57288"></div>It's a great time to be a wind turbine service technician (or a solar photovoltaic installer, or a nurse practitioner).According to new projections from the Bureau of Labor Statistics, those are the top three <a target="_blank" href="https://www.businessinsider.com/fastest-growing-jobs-employment-projections-renewable-energy-healthcare-analysts-2024-8">fastest-growing jobs in the country</a> over the next decade, writes Business Insider's Madison Hoff.For many job seekers, landing a new gig has proved challenging as <a target="_blank" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">hiring cools and competition intensifies</a>. But looking at where the labor market is headed could help job hunters find industries in need of workers.Careers in solar and <a target="_blank" rel="noopener" href="https://www.businessinsider.com/fastest-growing-career-wind-technicians-job-salary-us-2024-6">wind power</a> will feel the love in the next decade as America looks to renewable energy. Wind turbine service technicians are expected to see an increase in employment of around 60% by 2033.Other jobs, particularly those in healthcare, remain wise career choices. Nurse practitioners, physician assistants, and physical therapist assistants also made the list of fastest-growing jobs.But just because there are going to be plenty of jobs doesn't mean they'll pay well. The number of home health and personal care aides is expected to rise 20.7% by 2033, but the median annual wage is $33,530, well below the national median.However, BI ran its own methodology to uncover the <a target="_blank" href="https://www.businessinsider.com/high-paying-fast-growing-jobs-software-developers-nurses-managers-accountants-2024-9">20 jobs that are growing fast AND high paying in the US</a>.<div type="image" title="ai robot hand worker running 2x1" height="1000" width="2000" msid="112998273" hostid="261" sizebytes="48770"></div>Then, of course, there's the other end of the spectrum. As fast as some jobs are growing, others are losing steam.According to the BLS data, word processors and typists will have the hardest time finding work in the next decade. As <a target="_blank" href="https://www.businessinsider.com/fastest-shrinking-jobs-us-typists-operators-assemblers-telemarketers-data-entry-2024-8">the fastest-shrinking job</a>, employment among typists is expected to fall 38% by 2033.In what will likely come as a surprise to no one, the BLS pointed to a familiar trend as being partially responsible for the losses: Artificial intelligence.The fear of being replaced by AI is nothing new. Labor experts recently told BI's Jennifer Sor that the tech could displace as many as <a target="_blank" href="https://www.businessinsider.com/ai-job-market-replacing-workers-competition-job-losses-artificial-intelligence-2024-7">12 million workers by 2030</a>. Even AWS' CEO said that most developers could stop coding soon <a target="_blank" href="https://www.businessinsider.com/aws-ceo-developers-stop-coding-ai-takes-over-2024-8">as AI takes over</a>.Workers may have one saving grace (for now): MIT recently found that <a target="_blank" href="https://www.businessinsider.com/ai-too-expensive-steal-some-jobs-mit-study-finds-2024-1">AI is simply too expensive to steal many jobs</a>. So while your job may be safe for the immediate future, it may be time to start looking into a hot new career path. (Time to become <a target="_blank" href="https://www.businessinsider.com/fastest-growing-jobs-employment-projections-renewable-energy-healthcare-analysts-2024-8">a solar photovoltaic installer</a>!)<h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>IDF <a target="_blank" rel="noopener" href="https://www.businessinsider.com/idf-recovers-bodies-6-hostages-gaza-us-citizen-2024-9">recovers bodies of 6 hostages</a> from Gaza tunnel, including a US citizen whose parents spoke at the DNC.</li><li>Elon Musk's X ordered to <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/brazil-judge-orders-elon-musk-x-stop-operations-2024-8">stop operations in Brazil.</a></li><li>The next would-be assassin may be a drone pilot. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/next-assassination-attempt-drone-pilot-secret-service-2024-8">US law enforcement doesn't look ready</a>.</li><li>Nvidia might actually lose in this <a target="_blank" href="https://www.businessinsider.com/nvidia-may-lose-ai-inference-market-groq-cerebras-2024-8">key part of the AI chip business</a>.</li><li>View CEO Rao Mulpuri, who saw the glassmaker go from investor darling to declaring bankruptcy, <a target="_blank" href="https://www.businessinsider.com/view-rao-mulpuri-softbank-bankruptcy-cantor-rxr-2024-8">has resigned</a>.</li><li>Japan is having a hard time <a target="_blank" rel="noopener" href="https://www.businessinsider.com/japan-struggles-four-day-workweek-culture-overwork-panasonic-worker-shortage-2024-9">convincing employees to take 4-day workweeks</a>.</li><li>Inside the legal battle over the fate of the <a target="_blank" href="https://www.businessinsider.com/kroger-albertsons-merger-ftc-lawsuit-court-battle-2024-8">biggest supermarket merger in US history</a>.</li><li>'Something has been changing': Why a top economist is still worried about a recession <a target="_blank" href="https://www.businessinsider.com/us-recession-outlook-economic-indicators-unemployment-sahm-rule-david-rosenberg-2024-8">even as the US economy keeps growing</a>.</li><li>The Fed will go <a target="_blank" href="https://www.businessinsider.com/fed-rate-cuts-forecast-economy-unemployment-rate-cjob-market-citi-2024-8">bigger with rate cuts than markets think</a>, Citi economist says.</li><li>I'm a Harvard senior who balances college and my OpenAI-backed startup through <a target="_blank" href="https://www.businessinsider.com/harvard-senior-balances-college-ai-startup-productivity-enterprise-openai-coding-2024-8">these 3 productivity tips</a>.</li><li>Facebook's surprise change to its classic icon <a target="_blank" href="https://www.businessinsider.com/facebook-icon-black-blue-glitch-error-2024-8">was just a glitch</a>.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.

As fast as some jobs are growing, others are losing steam

SoftBank-funded <keyword id="14187659" type="UNKNOWN" weightage="60" keywordseo="view-inc" source="Orion">View Inc</keyword>. has been dogged by regulatory troubles for more than a year and a half. Earlier this week, the California glassmaker settled charges from the Securities and Exchange Commission, but the startup still has a rocky road ahead.The SEC <a href="https://www.sec.gov/news/press-release/2023-126?utm" target="_blank" rel="noopener">announced</a> on July 3 that View failed to disclose $28 million in projected costs to fix and replace any defective eco-friendly "smart glass" windows, which are covered under warranty. The agency declined to fine View as the company self-reported the liability understatement, cooperated with the investigation, and "promptly undertook remedial measures."The SEC order did find that View violated several securities laws pertaining to negligence-based antifraud, internal accounting controls, and other matters. View has not admitted or denied these findings, according to the release, but it has "agreed to cease and desist from future violations of the charged securities laws."The firm did not respond to Insider's request for comment.View's former CFO Vidul Prakash, however, is being sued by the SEC, which accuses him of improper book and record keeping, among other matters, according to the release. Prakash, who resigned in November 2021 after View first disclosed it had understated liabilities, did not respond to Insider's request for comment. But View is not out of the woods yet. Despite raising $200 million in convertible notes last year, the company does not have enough cash to meet forecast operating costs through the third quarter of 2023, according to its <a href="https://investors.view.com/news-releases/news-release-details/view-announces-q1-2023-earnings" target="_blank" rel="noopener">most recent quarterly earnings statement. </a>View is "actively seeking additional sources of capital and is currently in discussions with potential investors," per the statement.The firm's controversial CEO, Rao Mulpuri, has managed to raise cash for View multiple times when the company ran perilously low on cash, including from the now-bankrupt financier Greensill Capital."He's always been able to pull a rabbit out of a hat when it comes to procuring more money for the company," one banker familiar with View said.The company faces delisting from the New York Stock Exchange because its shares have traded below $1 for the past year. View needs shareholders to approve a reverse stock split in July to regain compliance before the NYSE's August deadline.This is the second time View has been threatened with delisting since going public via SPAC in March 2021. After failing to file numerous financial statements, it regained compliance in late June 2022.For those looking from the outside, View's troubles came on suddenly after its public debut, but insiders said the company burned cash and struggled with product failures for years. Insider spoke with 27 former employees and two current employees across View's <keyword id="11895316" type="UNKNOWN" weightage="100" keywordseo="finance" source="Orion">finance</keyword>, sales, marketing, factory operations, engineering, recruiting, and IT departments."When I was informed of the work I would be doing to help with the SPAC, I sort of laughed inside because to me, going public was never real," a former View IT employee told Insider. "We were way closer to going bankrupt."<h3 style="text-align: left;"><a href="https://www.businessinsider.com/softbank-view-inc-rao-mulpuri-spac-investigation-2022-6?r=VIEWinc-teaser">SUBSCRIBE TO READ THE FULL STORY: SoftBank's View went from investor darling to one of the worst SPAC deals ever. Insiders say the glass maker has struggled with cash burn for years, while many lived in fear of being fired.</a></h3>Editor's note: This article was first published in June 2022 and has been updated to reflect recent developments.

SoftBank's View avoids SEC fine, but is still running low on cash. How it went from investor darling to SPAC disaster.

<a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street?utm_source=editorial-&amp;utm_medium=other&amp;utm_campaign=acquisition_10thingswallst_generaledit">Sign up here to get 10 Things on Wall Street</a> delivered to your inbox each weekday morning.Morning, Wall Streeters! My name's Aaron Weinman, a correspondent for Insider, and I'm incredibly humbled to have your attention for the first edition of <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=10_things_tech&amp;utm_campaign=Post%20Blast%20sai:%20Tech:%20Sheryl%20Sandberg%20steps%20down&amp;utm_term=10%20THINGS%20IN%20TECH%20SEND%20LIST">10 Things on Wall Street</a>. I'll look to unpack all things banking, <keyword id="11895316" type="UNKNOWN" weightage="100" keywordseo="finance" source="Orion">finance</keyword>, dealmaking, and fintech every weekday.Got a tip? I'd love to hear from you. Drop me a line <a href="mailto:aweinman@insider.com">aweinman@insider.com</a> or find me on Twitter <a href="https://twitter.com/aaronw11">@aaronw11</a>.And on that note, here's what's new on The Street — starting with a <a href="https://www.businessinsider.com/softbank-view-inc-rao-mulpuri-spac-investigation-2022-6">cautionary tale about View, Inc.</a>, the SoftBank-backed glass manufacturer that's arguably flying much too close to the sun.Download Insider's app <a href="https://www.insider.com/app">here</a>.<a href="https://www.businessinsider.com/softbank-view-inc-rao-mulpuri-spac-investigation-2022-6"></a>1. View was once like catnip for investors, but now it's the poster child for Wall Street's SPAC largesse. Over the years, the glassmaker reeled in commitments from a host of investors like BlackRock's private-credit arm and even New Zealand's Superannuation Fund. Last year, it nabbed the services of Goldman Sachs when it merged with Cantor Fitzgerald's SPAC in March.Despite raising almost $1.5 billion in capital over the years, and $815 million through its de-SPAC merger, View's share price is now hovering near penny-stock territory, and it's been scolded by Nasdaq: Get your house in order, or a delisting won't be out of the question.From a bird's eye view (pun intended), you'd be forgiven for thinking that View's woes were sudden, but more than two-dozen people familiar with the company told Insider that <a href="https://www.businessinsider.com/softbank-view-inc-rao-mulpuri-spac-investigation-2022-6">View has grappled with serious cash burn and product failures</a> for years.As my colleague Hayley Cuccinello and I report, former employees described a toxic workplace, with some fearing being reprimanded or dismissed should they voice their concerns.At the helm, with presumably the greatest view (yes, I'm here all day, folks) of all, is Rao Mulpuri. The Harvard Business School graduate has a knack for capitalizing View, but as investors and lenders pare back exposure to companies that hemorrhage cash, the charismatic CEO's greatest challenge lies ahead.<a href="https://www.businessinsider.com/softbank-view-inc-rao-mulpuri-spac-investigation-2022-6">Read the full investigation here.</a>In other news:<a href="https://www.businessinsider.com/citadel-summer-internship-four-seasons-offsite-2022-6"></a><div type="image" title="Ken Griffin, CEO of Citadel" height="1665" width="2221" msid="92039413" hostid="261"></div>2. Ken Griffin's latest batch of minions will dive into "Shark Tank" style sessions at this year's offsite adventure. Starting today, the Citadel interns are hitting up resorts in Palm Beach and Fort Lauderdale for their 2022 kumbaya. <a href="https://www.businessinsider.com/citadel-summer-internship-four-seasons-offsite-2022-6">Here's what else they're getting into.</a>3. Coatue got off easy compared to peers Tiger Global and Melvin Capital. The tech-enamored hedge fund stuck more cash under its mattress to ride out the latest bout of volatility, <a href="https://www.businessinsider.com/coatue-is-down-17-boosted-cash-exposure-to-80-percent-2022-6">something founder Phillippe Laffont is known for during trying times</a>.4. Meet Rich Latour, BlackRock's global head of content, and its official fire extinguisher. The world's largest money manager wants to set the record straight, and to do that, <a href="https://www.businessinsider.com/blackrock-social-media-tiktok-2022-5">Latour's dragging the archaic world of investing toward uncharted territory like TikTok</a>.5. Klarna's sweetening severance for employees it recently canned. The BNPL fintech slipped from tech darling to villain after cutting about 10% of its roughly 7,000-strong staff last month. Now, <a href="https://www.businessinsider.com/klarna-updated-severance-package-layoffs-similar-to-airbnb-2022-6">Klarna's bumping up its "kthxbye" paychecks to at least 14 weeks pay, from six</a>.6. Array's CEO dropped some very personal names to avoid being blacklisted by payments processors, according to a lawsuit. Martin Toha, chief exec of the so-called "fintech for fintechs," is <a href="https://www.businessinsider.com/former-array-exec-claims-payments-blacklist-lawsuit-2022-6">accused of using his kids' mothers' names to bypass a blacklist</a>.7. Adam Neumann's back — this time trying to make "Goddess Nature Tokens" a thing. The ousted WeWork founder and his wife Rebekah Neumann are launching Flowcarbon, a startup aimed at <a href="https://www.businessinsider.com/wework-adam-neumann-startup-carbon-credits-goddess-nature-tokens-trading-2022-6">using blockchain tech to let businesses trade carbon credits using crypto</a>.8. Citi's bracing for $50 million in losses following last month's fat-finger debacle. It's not as severe as<a href="https://www.businessinsider.com/citibank-revlon-loan-900-million-mistake-payment-how-it-happened-2021-2"> the $900 million Revlon error</a>, but similarly face-palm worthy. A Citi trader in London mistakenly added a zero to a trade, <a href="https://www.bloomberg.com/news/articles/2022-06-02/citi-s-fat-finger-trade-seen-costing-bank-more-than-50-million?utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220602&amp;utm_campaign=author_17510379&amp;sref=ipW5reFz">causing what's known as a flash crash across European markets</a>.9. Bank of America could pay about $645 million to FC Barcelona for part of the Spanish football giant's TV rights. It's another sign of US influence in European sports, but <a href="https://www.bloomberg.com/news/articles/2022-06-03/barcelona-in-talks-to-sell-tv-rights-to-bofa-confidencial-says#xj4y7vzkg?sref=ipW5reFz">this deal's more indicative of Barca's ongoing cash crunch</a>.10. Wells Fargo is progressing on being more progressive, but Wall Street's way off Main Street. The bank increased its share of women, Black, and Latino execs, however, <a href="https://www.businessinsider.com/wells-fargo-diversity-report-shows-gains-but-that-challenges-remain-2022-6">the higher up you go, the whiter it gets</a>.On today's docket:<ul><li>John Rainey's reign as Walmart's new CFO starts today. Rainey will take over from Brett Biggs. As CFO of one of Wall Street's most sought-after clients, <a href="https://corporate.walmart.com/newsroom/2022/04/12/walmart-names-john-rainey-new-chief-financial-officer">Rainey can bank on a deeply-filled inbox this week</a>.</li><li>BofA Securities is hosting an <a href="https://gems.bankofamerica.com/public/OnlineRegRedirectServlet?dispatch=checkRegistrationStatus&amp;eventId=9H%2FbgU6QmdU%3D&amp;site=client#/overview/login">electric vehicle charging summit.</a></li></ul>Keep updated with the latest business news throughout your day by checking out <a href="https://link.chtbl.com/therefresh">The Refresh from Insider</a>, a dynamic audio news brief. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Aaron Weinman in New York. Tips? Email <a href="mailto:aweinman@insider.com">aweinman@insider.com</a> or tweet <a href="https://twitter.com/aaronw11">@aweinman11</a>. Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

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View CEO Rao Mulpuri, who saw the glassmaker go from investor darling to declaring bankruptcy, has resigned

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SoftBank's View avoids SEC fine, but is still running low on cash. How it went from investor darling to SPAC disaster.

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