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<ul class="summary-list"><li>PDD Holdings' stock plummeted 29% Monday after a bleak outlook due to competition and consumer shifts.</li><li>The company faces challenges from changing demand, intensifying competition, and global uncertainties.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/why-gen-x-boomers-love-temu-2024-1">Temu parent</a> PDD Holdings' stock plunged after the Chinese e-commerce giant signaled a bleak outlook.PDD stock fell nearly 29% on Monday, the most on record, after the company reported second-quarter earnings.The company reported about $4.4 billion in profits in the quarter, a 144% increase compared to last year. But co-CEO Chen Lei said investors should expect a decline in profits moving forward."We are seeing many new challenges ahead, from <a target="_blank" class="" href="https://www.businessinsider.com/temu-opens-its-marketplace-to-us-based-sellers-2024-3">changing consumer demand</a>, intensifying competition, and uncertainties in global environment," Chen said on an earnings call on Monday.PDD competes with ByteDance's TikTok shop, Alibaba, and Shein, all of which <a target="_blank" class="" href="https://www.businessinsider.com/what-is-shein-billion-dollar-fast-fashion-company-explained-2023-7">target fast-fashion shoppers</a>. Temu also sells low-cost products ranging from home goods to motorcycle accessories.Chen added that consumers are increasingly ditching material purchases for experience-based ones and that they want quality and value purchases.<h2 id="0c4e1524-6948-454a-999d-739b9e0cdaea">Carrots for good merchants</h2>Chen said that the company would "tackle low-quality" merchants by offering transaction fee reductions for higher-quality vendors.Chen repeatedly said that this is the right path for the company, even if it affects profits in the short term."On one side, we must ensure strict oversight of product quality to prevent substandard goods and protect consumer rights. On the other side, we must ensure fairness so that dedicated high quality merchants can earn meaningful rewards," the co-CEO said.Chen's remarks come amid a series of <a target="_blank" class="" href="https://www.businessinsider.com/temus-office-besieged-chinese-suppliers-protesting-refund-policy-2024-7">protests from Temu suppliers.</a>Hundreds of suppliers thronged Temu's Guangzhou, China, office in rallies this month, protesting fines and refund policies they said were destroying small merchants' profits. Temu, which <a target="_blank" class="" href="https://www.businessinsider.com/temu-is-on-a-quest-to-take-over-america-2024-2?utm_medium=referral&amp;utm_source=yahoo.com">surged in popularity in the US</a> because of its cheap clothing and home decor items, fines merchants if they receive refund requests or customer complaints."We sense PDD highlighting its intention to invest in 'good merchants' is aimed to appease some of its unhappy sellers complaining about ill-treatment by the platform," Jialong Shi, an analyst at Nomura, wrote in a note on Tuesday.The analyst maintained a Buy rating on the company and noted that the 29% decline may have been an overreaction.

Temu's parent company's stock tanked on a major warning sign from the cheap e-commerce brand

<ul class="summary-list"><li>Bolt founder Ryan Breslow proposes returning as CEO with a $2 million bonus and $1 million back pay.</li><li>Breslow left Bolt in 2022 due to investor conflicts and has since run wellness marketplace Love.</li></ul>Bolt's founder and ex-CEO wants to return to the driver's seat — and he's asking for a hefty payday to come back.<a target="_blank" class="" href="https://www.businessinsider.com/bolt-ceo-calls-stripe-ycombinator-mob-bosses-twitter-silicon-valley-2022-1">Ryan Breslow,</a> who founded <a target="_blank" class="" href="https://www.businessinsider.com/ryan-breslow-startup-bolt-raising-new-funding-14-billion-valuation-2022-1">e-commerce software startup Bolt</a> a decade ago, proposed a deal to investors this week, The Information and <a target="_blank" class="" href="https://www.newcomer.co/p/bolts-audacious-letter-to-investors">Eric Newcomer </a>reported Tuesday.The terms of the funding round were highly unusual, including a $2 million bonus for returning and $1 million in back pay for the two years he was away from the company, the outlets reported, citing a private equity partner who was involved in the deal. The partner has since said that his firm is no longer involved.Breslow left the company in early 2022 because of conflicts with investors. The 30-year-old entrepreneur's <a target="_blank" class="" href="https://www.forbes.com/sites/sarahemerson/2024/03/11/the-billion-dollar-unraveling-of-ryan-breslow/">career</a> has been marked by controversy, including lawsuits, a fight with an early investor, and a <a target="_blank" class="" href="https://www.businessinsider.com/bolt-ceo-calls-stripe-ycombinator-mob-bosses-twitter-silicon-valley-2022-1">public spat</a> with competitor Stripe and Y Combinator.Bolt's interim CEO Justin Grooms wrote in a letter to investors reviewed by The Information that the company was raising $450 million in a Series F round that would value Bolt at over $14 billion. According to Newcomer, Bolt's annualized run-rate revenue was $28 million, and its gross profit was $7 million.The deal comes with several other eyebrow-raising clauses that would further benefit Breslow, reported Newcomer and The Information:<ul><li>Breslow would get an option to sell 10% of his shares and the right to purchase Bolt subsidiaries conscious.org and <a target="_blank" class="" href="https://www.businessinsider.com/four-day-workweek-company-bolt-productivity-jobs-fridays-weekends-2022-3">fourdayweek.com </a>from the company for $1 at any time. Breslow had <a target="_blank" class="" href="https://www.businessinsider.com/how-bolt-made-change-4-day-work-week-top-exec-2022-1">championed a four-day workweek</a>.</li><li>He would also get a new equity grant that would be "no less than the 90th percentile of CEO equity compensation packages of similar companies in Bolt's industry."</li><li>If Bolt hits a $50 billion valuation in a $100 million or greater fundraise, Breslow would receive an additional stock grant of 5% of the issued and outstanding Bolt shares.</li><li>The company would partner with Love, a wellness marketplace run by Breslow since he was ousted from Bolt.</li><li>Bolt would invest $10 million into The London Fund, a venture capital firm that appears to be one of the main investors in its current funding round. The Information reported Breslow is a director at the fund, which also invested in Love.</li></ul>Bolt's investors were also told that they would need to chip in more money for this funding round. If they fail to do so, Bolt would buy most of them out for one cent a share, a particularly aggressive "pay-to-play" move in the startup world, reported Newcomer.The proposal requires approval from an investor majority, and shareholders have from late Monday to Wednesday to decide, reported The Information.Bolt's prior investors include BlackRock, Sequoia Capital, Founders Fund, and Intuit, per PitchBook. Neither Bolt nor Breslow immediately responded to Business Insider's requests for comment, sent outside standard business hours.

E-commerce startup Bolt wants to raise new money under aggressive terms that could make its once-ousted founder rich, reports say

<ul class="summary-list"><li>Michael Burry bolstered his bets on three Chinese tech companies last quarter.</li><li>The "Big Short" investor raised his stakes in Alibaba, Baidu, and JD.com but also hedged the wagers.</li></ul>Michael Burry doubled down on three of China's biggest technology companies last quarter, boosting his stakes while carefully hedging his bets.The investor of "The Big Short" fame bolstered his Alibaba position by 29% to 200,000 shares worth around $21 million at the end of September, a quarterly portfolio filing revealed on Thursday. He also purchased bearish put options on almost 169,000 of the e-commerce giant's shares with a nominal value of about $18 million.The Scion Asset Management boss doubled his JD.com stake to 500,000 shares worth $20 million at quarter end, and purchased put options on the same number of shares.Similarly, he raised his Baidu position by two-thirds to 125,000 shares, worth a little over $13 million on September 30, and bought put options on around 83,000 shares of the company.The combined nominal value of the three put positions was $43.6 million. That's equal to just over half the value of the rest of the stock portfolio, which grew 64% <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/michael-burry-big-short-stock-investments-bets-chinese-equities-stimulus-2024-9">in the period</a> to just over $86 million despite Scion trimming its number of non-option positions from 10 to eight.Chinese stocks <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-aggressive-monetary-stimulus-interest-rate-rrr-2024-9">soared</a> in late September after the government pledged to revitalize economic growth with a sweeping stimulus package, but have slumped since then as details remain sparse.Burry didn't take positions in any new stocks last quarter, but he added to his wagers on Molina Healthcare, Shift4 Payments, and Olaplex. He also exited BioAlta and Hudson Pacific Properties, more than halved his stake in TheRealReal, and cut his position in American Coastal Insurance by 60%.The value investor shot to fame after making a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-scion-housing-market-bubble-gamestop-stock-2021-9">massive bet</a> against the mid-2000s housing bubble, which was immortalized in the book and movie "The Big Short."He's also notable for <a target="_blank" rel="" href="https://markets.businessinsider.com/news/stocks/big-short-investor-michael-burry-scion-gamestop-stock-price-frenzy-2021-2-1030050393?utm_medium=ingest&amp;utm_source=markets">investing in GameStop</a> and penning letters to its directors more than a year before it became a meme stock in early 2021.Burry has <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-nvidia-stock-portfolio-microchips-etf-scion-2023-11">previously bought</a> bearish put options on the S&amp;P 500, Nasdaq, Apple, Tesla, Cathie Wood's flagship Ark fund, and a microchip ETF containing Nvidia.The value investor hasn't been shy about issuing dire warnings and dour predictions about market crashes and economic calamities. He <a target="_blank" rel="" href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-twitter-return-biggest-market-bubble-ever-2021-6?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">rang the alarm</a> on the "greatest speculative bubble of all time in all things" in the summer of 2021, and <a target="_blank" rel="" href="https://markets.businessinsider.com/currencies/news/big-short-michael-burry-warns-meme-stocks-crypto-crash-coming-2021-6-1030534935?utm_medium=ingest&amp;utm_source=markets">warned buyers of meme stocks</a> and cryptocurrencies they would suffer the "mother of all crashes."

'Big Short' investor Michael Burry boosts Alibaba, Baidu, and JD.com bets as he doubles down on China

<ul class="summary-list"><li>Marc Farrell became Starbucks' youngest vice president at the age of 33.</li><li>Farrell, who is from Trinidad and Tobago, calls his three years at Starbucks a "finishing school."</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/pirates-of-the-caribbean-details-easter-eggs-black-pearl-2021-3">Captain Jack Sparrow</a>, slushy <a target="_blank" class="" href="https://www.businessinsider.com/top-spring-break-destinations-las-vegas-new-york-orlando-miami-2024-3">spring break</a> cocktails, and nasty <a target="_blank" class="" href="https://www.businessinsider.com/how-to-fix-cure-deal-with-a-hangover-2016-12">hangovers</a>. If that's what comes to mind when you think about rum, then Marc-Kwesi Farrell is on a mission to change that.Farrell, 43, is the founder of Ten To One, a rum brand he launched in late 2018 that is available in nearly 5,000 establishments, making it one of the fastest-growing premium rum brands in the US. The three rums in the range cost between $33 and $65 a bottle online.But Farrell, whose passion for rum is inspired by his Caribbean roots, said the brand's success is fueled in part by time working in the corporate world at Starbucks.He became its youngest vice president at the age of 33, working on e-commerce and retail and beverage innovation, after "serendipitously" meeting former Starbucks CEO <a target="_blank" class="" href="https://www.businessinsider.com/former-starbucks-ceo-howard-schultz-successor-brian-niccol-new-strategy-2024-11">Howard Schultz</a>."I wasn't trying to move to Seattle," Farrell says. "I was in the market for a job, but certainly not at Starbucks."<div type="image" title="Ex Starbucks VP Marc Farrell with bottles of his Ten to One rum." height="1830" width="1280" msid="115383800" hostid="261" sizebytes="228162"></div>But Schultz, who is an investor in Ten To One, took a shining to the Harvard Business School MBA graduate.Despite having "25,000 coffee shops at that point," Farrell says Schultz still had an "entrepreneurial hunger."On the surface, a global coffee giant, and an up-and-coming rum brand don't seem to have much in common.Still, Starbucks was the "finishing school" Farrell needed to launch his own business and teach him the following business lessons.<h2 id="3ef32ed8-d37c-4dd4-9093-87bbed4dee1e">1. Having a clear purpose</h2>What struck Farrell the most from his early encounter with Schultz was his "very clear sense of purpose," which influenced his decision to pursue a rum business."Where Starbucks was helpful was in kind of focusing a little bit of that purpose," Farrell says.Growing up, he said rum, a spirit that originated in the Caribbean, was part of the fabric of everyday life and a constant at all types of gatherings — from carnival to casual hangouts with friends, which locals in Trinidad call "liming."Farrell says part of Ten To One's success is that the brand has a clear intention: reshaping consumers' perception of rum."The way that rum is brought to life, the way it's articulated, the way it's represented, typically doesn't bear much resemblance to what I know and love," he explains. "This is as much a love letter to my culture as it is a purely realistic capitalistic endeavor."<h2 id="a71131b8-f744-458b-9ef1-278741fd635e">2. Mastering storytelling</h2>To launch a successful business, you need to be able to communicate "your 'why,'" Farrell says.He recognized this skill in Schultz, whom he calls "an incredible storyteller."Ten To One has found success because Farrell says he can effectively relate its story: "No one could tell you the Ten To One story better than me because it's my story; it's my perspective."<div type="image" title="Marc Farrell and Ciara are co-owners of 10 to One." height="960" width="1280" msid="115383801" hostid="261" sizebytes="117436"></div>Once you can effectively tell your brand's story, he says the next challenge is telling it again and again: "If you're not willing to tell that story 10 million times, then actually don't do it."Being a brand "evangelist" is how Farrell says he attracted investors, including the performer <a target="_blank" class="" href="https://www.businessinsider.com/russell-wilson-ciara-net-worth-how-make-spend-money-2023-11">Ciara</a> (a co-owner), and collaborations with other businesses such as Cote, a Michelin-starred Korean barbecue restaurant founded in New York City .<h2 id="28053565-5255-48ce-a677-a94f282b9a4e">3. Don't wait until the product is perfect</h2>At Starbucks, Farrell was he was very well paid and great colleagues and mentors."There's a lot of that that feels comfortable," he adds. "But at some point, you just decide that the call of doing something else is impossible to ignore."Farrell says taking a leap into the unknown rather than biding his time at Starbucks was key.<div type="image" title="Marc Farrell, founder of rum brand 10 to One." height="854" width="1280" msid="115383803" hostid="261" sizebytes="138242"></div>"People sometimes wait until the idea is quote unquote, fully baked and fully formed before they're willing to share it." However, Farrell believes "the sooner you can share" a business idea, the better.The feedback he got from sharing his idea for Ten To One in the early days helped shape and progress his idea.It was also the "easiest and most effective way" to get others on board, he adds. "That's how you get introduced to new investors. That's how you will refine the pitch, pick up what resonates and what doesn't."

This Starbucks exec quit to launch a rum brand. These 3 strategies helped him succeed — and attract investors like Howard Schultz.

<ul class="summary-list"><li>Adtech startups face leadership changes as investors demand growth and profitability.</li><li>Private-equity firms are looking for adtech startups to achieve scale.</li></ul>Close observers of the adtech industry will have noticed there's been a heap of change in the upper ranks of the sector's startups in recent months — especially those <a target="_blank" class="" href="https://www.businessinsider.com/private-equity-firms-investing-in-advertising-and-marketing-companies-2024-3">financed by private equity</a>.<a target="_blank" class="" href="https://www.xr.global/press-releases/xr-announces-strategic-leadership-changes-to-accelerate-growth">Louisa Wong stepped down</a> as chief executive of Gamut Capital-owned XR Xtreme Reach in August. She was replaced in the interim by Chandler Bigelow, the company's chief financial officer. Doug Knopper, an investor in the company, was appointed executive chairman, while adtech veteran Jo Kinsella was promoted to global president and chief operating officer.In July, <a target="_blank" class="" href="https://www.adexchanger.com/online-advertising/triplelift-ceo-dave-clark-abruptly-exits-after-setting-the-ssp-on-a-new-trajectory/">Dave Clark left his role as chief executive of Triplelift</a>. His responsibilities were split among an "office of the CEO," led by Eric Roza, a managing director at its lead investor, Vista Equity.At the turn of the year, <a target="_blank" class="" href="https://www.axios.com/pro/media-deals/2024/01/04/videoamp-ceo-out-layoffs">VideoAmp CEO Ross McCray exited</a>, passing the reins to board member and investor Peter Liguori, now executive chairman. <a target="_blank" href="https://www.axios.com/2024/10/01/videoamp-media-measrement-nielsen-sale">Axios reported this month, citing multiple sources, that the company is now pursuing a sale</a>, with its investor Vista Credit Partners reportedly leading some of those discussions.Each of the changes comes with its own company-specific nuance, but experts said there are broader industry trends that link them. Those experts — bankers, adtech executives, and consultants — told Business Insider that the revolving door is likely to continue over the next six months as investors press adtech companies for growth.It marks the next stage of evolution for the adtech industry. With the digital ad market largely dominated by tech giants Google, Amazon, and Meta, independent adtech companies are forced to find new ways to compete over the remaining scraps. The small and medium-sized startups still duking it out are now entering their operator era."Automation, AI, and the optimization of corporate structures will mean that only the lean, mean companies are going to end up gaining market share and be in a position to win," said Chris Karl, chief business development officer at the M&amp;A advisory firm JEGI Clarity.<h2 id="fd8233e1-0d16-4bc2-8b40-8db1559a0af4">Adtech valuations have come back down to earth, but PE investors still want scale</h2>Private-equity firms such as Vista, GTCR, and Blackstone have been increasingly <a target="_blank" href="https://www.businessinsider.com/private-equity-firms-investing-in-advertising-and-marketing-companies-2024-3">active investors in the adtech space</a>, leading a flurry of deals between 2021 and 2022.There were 784 PE or PE-sponsored transactions in the media and marketing space in 2021, up 96% from the prior year, according to the advisory firm Ciesco. That number rose to 874 in 2022 and lowered slightly to 786 in 2023, per Ciesco.Now, a few years have passed, and leadership changes are to be expected, given historic PE investment cycles, said Mark Wright, a veteran tech investor and executive, who now leads the M&amp;A strategic advisory practice at Prohaska Consulting. Founding teams make way for more experienced operators who can take the company to the next level, he said."Although there are exceptions to the rule, there are very few founding teams that are marvelous at groundbreaking innovation that can successfully make the transition to managing and operating at scale," Wright said.Public and private valuations of adtech companies have dropped dramatically since 2021, the height of the zero-interest-rate period when there was a rise in digital ad spending and a slew of adtech IPOs. Tougher macroeconomic conditions in the years since put a strain on consumer spending and marketing budgets, cooling the markets and M&amp;A activity."Some of the changes you're seeing are indicative of a two-year cycle post-COVID where things are back to normal, or the new normal," Karl of JEGI Clarity said. "Where company performance could be tied to events that were out of their control a couple of years ago, that excuse no longer suffices. Investors want growth."Meeting growth expectations has been a challenge for some companies. JEGI Clarity, which, alongside CIL Management Consultants, conducted a survey of 25 marketing services agency leaders this summer, heard from multiple CEOs who said 2022 and 2023 were some of the most difficult operating environments of their careers.Those surveyed said they were more optimistic about 2024 now that rates have stabilized and clients are less risk-averse with their marketing budgets. Almost three-quarters (70%) of respondents in the study said that their margins had remained stable or increased this year.<h2 id="7a33b071-67d8-4249-828a-d18e4d17a037">CTV is adtech's bright spot – but it's complicated</h2>Despite a rising global advertising market that is expected to surpass $1 trillion in spending next year, not all adtech vendors are positioned to reap the rewards.Take the connected TV space. It's one of the fastest-growing ad channels in the US, with spending expected to grow 13.3% and cross $30 billion in 2025, according to Emarketer. The change in viewing patterns and forecast ad spend attracted investor interest in adtech companies that had a strong position in CTV.<div type="image" title="Emarketer US TV CTV ad spend chart" height="1466" width="1410" msid="114016955" hostid="261" sizebytes="114730"></div>However, much of the recent growth in CTV advertising is being driven by platforms like YouTube and Amazon Prime Video — so-called walled gardens that don't integrate third-party adtech vendors such as buying platforms and exchanges.CTV is also a lower-margin channel for adtech vendors than traditional online display, where up to half of every dollar spent on ads gets gobbled up by vendors like demand-side platforms, ad exchanges, ad servers, measurement vendors, and data brokers."In network TV, those supply chain costs are in the 15% level — you have to take 50% and squeeze it down to 15%," Prohaska's Wright said. "It's going to put a real emphasis on operating at scale and put a pressure on margins."As TV viewing grew fragmented, several adtech companies that took on investment in recent years positioned themselves as rivals to ratings giant Nielsen. These firms are jockeying to become the go-to companies for tracking audiences or to become the universal <a target="_blank" href="https://www.adexchanger.com/adexplainer/adexplainer-tv-measurement-vs-tv-currency/">currency</a> used to buy TV and video ads.But Nielsen still hasn't been unseated. And Walmart's acquisition of TV manufacturer Vizio — from which many adtech vendors license viewing data derived from its tens of millions of TV sets — could signal further trouble ahead if the grocery giant doesn't renew those contracts when they expire.With the Walmart-Vizio deal front of mind, adtech companies and investors are likely to turn their attention to retail media, where ads are placed on e-commerce sites. Retail media is also growing at a clip, with almost every retailer and app owner now also operating an ad business.The increasing complexity for advertisers offers opportunities for adtech companies to innovate. Though, while around $1 in every $7 US ad dollars is expected to go to the space this year, according to Emarketer, retail media is largely dominated by Amazon.There's also some executive shuffling happening in the retail media ranks: Megan Clarken, who leads the publicly traded adtech company <a target="_blank" href="https://digiday.com/media-buying/criteo-seeks-new-chief-executive-after-megan-clarken-announces-pending-exit/">Criteo</a>, said she plans to step down within the next year once her successor is found.Many industry observers expect more adtech management upheaval ahead, as well as a further consolidation of the sector once the intense fourth-quarter holiday period is over."You will see more heavy-handed PE involvement primarily because the M&amp;A market hasn't been great and people sat on the sidelines," said Domenic Venuto, COO of investment bank Progress Partners and soon-to-be chief of product and data at media agency Horizon Media."The market can only sustain so many of these companies that have grown to be quite sizable but are now hitting their upper limits," he said.

Adtech is undergoing an exec shake-up as investors seize control and startups enter a new era

<ul class="summary-list"><li>Investors worried about a market correction should adjust their portfolios, David Rosenberg says.</li><li>The top economist has warned stocks are in a bubble and at risk of a major decline.</li></ul>A number of Wall Street forecasters have been warning of a stock bubble as the market climbs to a series of fresh highs in 2024 — and investors worried about such a scenario should be putting their money in a handful of assets to protect themselves from the eventual bursting.That's according to David Rosenberg, a top economist and the founder of Rosenberg Research, who's been warning of a <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-crash-outlook-prediction-strategy-to-invest-david-rosenberg-2024-3">potential craash in stocks</a> for months. In the past, he's warned of a <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-crash-outlook-prediction-strategy-to-invest-david-rosenberg-2024-3">39% correction to stocks</a>, among the more extreme predictions on Wall Street, where most investors are feeling optimistic about a soft landing amid a robust economy and easing interest rates. "Watching the market these days is like watching a clown blowing up a balloon (or Chuck Prince dancing the ballroom), knowing the inevitable," Rosenberg said in a note to clients on Friday. "When this mega-bubble pops, it will be spectacular."Investors need to exercise caution and avoid following the "herd mentality," Rosenberg said, pointing to the fervor for mega-cap tech stocks. Instead, he said, investors should focus on stocks with strong business models, strong growth, and good prices, and add some "insurance" to their portfolios.Below are his top investment ideas for to prepare for the potential bursting of a market bubble. Healthcare and consumer staplesInvestors should gear their investments towards what people will always need in the future. In particular, Rosenberg recommended that investors pay attention to options in the healtcare and consumer staples sectors."Focus on where people are going to focus on what they need, not what they want," Rosenberg wrote. "Anything related to e- commerce, cloud services, and wiring up your home to become your new office has been in a budding secular growth phase."Utilities<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ai-stocks-to-invest-artificial-intelligence-data-center-energy-companies-2024-6">Utility stocks</a> also look promising. Other forecasters have predicted <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/energy-stocks-to-buy-utility-artificial-intelligence-data-center-bofa-2024-9">huge upside for utility firms</a>, due to the growing need for power and data centers stemming from the AI boom."Utilities, as we have been saying for a long time, are as close to a 'no brainer' as there is, given their yield attributes and their being re-rated for 'defensive growth' owing to enhanced earnings visibility through the strong and secular outlook for US power needs," Rosenberg said.Aerospace, DefenseAerospace and defense stocks could also be a buy, he added, given rising geopolitical tensions around the world."Aerospace/defense has been a long-standing bull call for us for several years, and the best hedge against an increasingly troubled world where military budgets are expanding everywhere — and not at all sensitive to who comes to power on November 5th."Big techWhile some areas of tech are exhibiting bubble characteristics, investors could still seize on opportunities in some large-cap tech names, given the prevalence of work-from-home, cloud services, and remote work, Rosenberg said. Still, investors should wait to scoop up tech names at better prices, he said."I'd prefer to pick these plays up at better prices than we have today because this last melt-up has eaten enough into future expected returns to keep us cautious for now. But we would be an avid buyer on any significant pullback."Safe betsInvestors should look to put a "dose of insurance" in their portfolios. That means gold — the "truest store of value," Rosenberg says, — as well as government bonds."The beautiful thing about gold is that it is not a liability that a central bank can simply have forgiven or a currency that can simply be printed by government fiat," he said of the precious metal. "I also favor the Treasury market because it commands just about the highest yield of any major industrial country – and with the great liquidity attributes."Real estate investment trusts could also be good ways to hedge risk, Rosenberg said. That particularly applies to REITs tied to the industrial and healthcare sectors. "In any event, we all have to become increasingly thematic and thoughtful in our decision-making and more selective than normal because the stock market, and financial assets in general, have become nothing more than a momentum casino," he added.Most forecasters on Wall Street still expect a strong performance from equities into year-end and 2025. Goldman Sachs, UBS, BMO, and Deutsche Bank have <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-targets-bull-market-goldman-ubs-bmo-2024-10">raised their year-end price targets</a> for the S&amp;P 500 in recent weeks, with new forecasts ranging from 5,750 to 6,400.

Here's where investors worried about a stock market bubble should put their money, according to a top economist

<ul class="summary-list"><li>Prime is a crucial way Amazon encourages consumers to keep spending money on its platform. </li><li>Prime growth has for years spurred investors to pile into Amazon stock. </li></ul>In 2018, Amazon founder <a href="https://www.businessinsider.com/amazon-ceo-jeff-bezos-richest-man-world-career-life-story-2017-7">Jeff Bezos</a> said he expected his company to be scrutinized by regulators because big tech had become so large. On Wednesday, he was proved right. The <a href="https://www.businessinsider.com/personal-finance/federal-trade-commission-act">Federal Trade Commission</a> sued Amazon, accusing the e-commerce behemoth of luring unwitting customers into <a href="https://www.businessinsider.com/amazon-is-investigating-prime-team-gender-bias-allegations-2021-6">Prime</a> subscriptions, and creating a "labyrinthine" process to cancel it. The company "knowingly duped millions of consumers," the FTC said <a href="https://storage.courtlistener.com/recap/gov.uscourts.wawd.323520/gov.uscourts.wawd.323520.1.0_1.pdf" target="_blank" rel="noopener nofollow">in its complaint</a> filed in federal court in Washington state.The suit was the result of an <a href="https://www.businessinsider.com/amazon-prime-ftc-probe-customer-complaints-sign-ups-internal-documents-2022-3">Insider investigation</a> in early 2022. Citing internal Amazon documents, reporter <a href="https://www.businessinsider.com/author/eugene-kim">Eugene Kim</a> and then-editor Graham Starr revealed that the company had been concerned since at least 2017 that user interface designs on Amazon.com led customers to feel manipulated into signing up for Prime. <a href="https://www.businessinsider.com/amazon-ceo-andy-jassy-day-2-culture-first-year-ceo-2022-8">Amazon</a> was aware of these complaints for years but did not take serious action, according to the previously unreported internal documents and six current and former employees who spoke to Insider.Even worse: In several cases, fixes for these issues were proposed and considered, but resulted in lower subscription growth when tested, and were shelved by executives, the documents showed. After the story ran, the <a href="https://www.businessinsider.com/ftc-deepens-amazon-prime-probe-sending-subpoenas-issuing-warnings-2022-8?op=1">FTC revived a dormant probe</a> into the issue, according to the regulator's complaint on Wednesday."On March 14, 2022, Business Insider published information leaked from current and former Amazon employees regarding the problems with Amazon's Prime checkout enrollment flow and the Iliad Flow," the FTC wrote in its suit. "The Commission quickly ascertained that Amazon had failed to disclose much of the now-leaked documents and information to the Commission, despite the fact that at least some of it was responsive to the outstanding CID. Amazon withheld the information."In an email to Insider on Wednesday, Amazon's spokesperson said the FTC's claims are "false.""The truth is that customers love Prime, and by design we make it clear and simple for customers to both sign up for or cancel their Prime membership," the statement said. "We also find it concerning that the FTC announced this lawsuit without notice to us, in the midst of our discussions with FTC staff members to ensure they understand the facts, context, and legal issues, and before we were able to have a dialog with the Commissioners themselves before they filed a lawsuit."<h2>Civil Investigative Demand</h2>Around the spring of 2022, the regulator reached out to current and former Amazon employees and sent out subpoena letters in some cases. One of those letters, reviewed by Insider, said the FTC made a Civil Investigative Demand to Amazon in March 2021. A CID is a legal document enforceable in court that seeks documents or other information related to an FTC investigation. The agency sends CIDs to get information from companies it thinks may have violated the law, according to the FTC website.In April 2022, the FTC sent more correspondence about the issue to Amazon lawyers, according to the letter, which cited Insider's original story from March 2022.At that time, an Amazon spokesperson said in a statement that "we continually listen to customer feedback and look for ways to improve the customer experience.""Customers love Prime and by design we make it clear and simple for customers to both sign up for or cancel their Prime membership," the Amazon representative added.<h2>Harassment accusation</h2>Later in 2022, the FTC ramped up its probe. The regulator asked Amazon to <a href="https://www.businessinsider.com/ftc-requests-jeff-bezos-amazon-executives-disappearing-messages-prime-investigation-2022-8">dig up any relevant disappearing messages</a> sent by the company's executives, including Bezos and CEO Andy Jassy. Other Amazon executives subpoenaed in the investigation included former retail boss <a href="https://www.businessinsider.com/amazon-consumer-ceo-dave-clark-resigns-missteps-2022-6" rel="">Dave Clark</a> and his successor <a href="https://www.businessinsider.com/profile-of-amazons-new-retail-ceo-doug-herrington-2022-7" rel="">Doug Herrington</a>, SVP of international Russ Grandinetti, and former Prime VP Greg Greeley.Amazon's law firm <a href="https://www.businessinsider.com/amazon-accuses-ftc-harassing-jeff-bezos-andy-jassy-prime-investigation-2022-8">accused the FTC of harassing</a> the company's top executives. The firm argued that the FTC should "quash or limit" the subpoenas due to "unworkable and unfair" procedures that it described as a "one-sided effort to force Amazon to meet impossible-to-satisfy demands."It looks like that argument has failed so far. Do you work at Amazon? Are you concerned about the company's behavior? Reach out to reporter Eugene Kim via the encrypted messaging apps <a href="https://signal.org/download/" target="_blank" rel="nofollow noopener">Signal</a> or <a href="https://telegram.org/" target="_blank" rel="nofollow noopener">Telegram</a> (+1-650-942-3061) or email (ekim@insider.com). Use a non-work device.

Amazon Prime FTC suit: How Insider's investigation led to a crackdown on the e-commerce giant

<ul><li>The overall institutional inflow during the July-September period decreased by 57% compared to the previous quarter. </li><li>In Q3 2023, <keyword id="6334588" type="General" weightage="20" keywordseo="residential-assets" source="Orion">residential assets</keyword> saw an increase in institutional investments, reaching $298.3 million. </li><li>During the July-September period, office assets attracted $164.1 million in institutional investments. </li></ul>In an interesting development, Q3 2023 has witnessed a shift in the dynamics of institutional investments in the Indian <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> sector. <keyword id="421656" type="General" weightage="20" keywordseo="domestic-investors" source="Orion">Domestic investors</keyword> took the lead, accounting for 71% of total institutional investments, while the share of foreign investors declined from 55% in Q3 2022 to 27% in Q3 2023, according to Vestian, an occupier-focused workplace solutions firm. The overall institutional inflow during the July-September period decreased by 57% compared to the previous quarter. This decline was primarily attributed to a significant drop in foreign fund inflow. In Q3 2023, residential assets saw an increase in institutional investments, reaching $298.3 million, marking a 71% surge compared to the previous year. In the same period last year, institutional investments in residential assets amounted to $174.3 million. For the entire Indian real estate sector, the third quarter of 2023 witnessed an uptick in institutional investments, totaling $679.9 million, representing an 82 % growth compared to the corresponding period in the previous year when the inflow stood at $374.3 million. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarters </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Institutional Investments ($ Bn) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q-o-Q Change (%) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Y-o-Y Change (%) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2022 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.4 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-86% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-53% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 2022 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">316% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">103% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 2023 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.2 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-19% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 2023 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.6 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">28% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-41% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.7 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-57% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">84% </td></tr></tbody></table> Source: Vestian Research Says Shrinivas Rao, CEO, Vestian, “Institutional investments have slowed down during the September quarter due to limited interest from foreign investors amid a challenging global macroeconomic landscape." However, Rao noted that large conglomerates are calling their employees back to the office which may inflate demand for office spaces across the country. <cmsannotation type="cmsannotation" annotationid="Institutional investments in various asset classes" comment="Subhead" text="Institutional investments in various asset classes">Institutional investments in various asset classes</cmsannotation> In the third quarter of this calendar year, institutional investments in various asset classes demonstrated some interesting shifts. The residential sector, despite remaining the leading choice, saw its share decline to 44% in Q3 2023 from 47% a year earlier. Conversely, the share of commercial assets, encompassing office spaces, co-working facilities, retail properties, and hotels, decreased to 24% in Q3 2023 from 40% in Q3 2022. During the July-September period, office assets attracted $164.1 million in institutional investments, marking an increase from the $150 million recorded in the same period the previous year. In contrast, the industrial and warehousing sector experienced a remarkable uptick, surging to 28% in Q3 2023 from a negligible presence in Q3 2022. According to Vestian, this growth can be attributed to the Government's 'Make in India' campaign and the burgeoning popularity of e-commerce, which fueled heightened demand for industrial spaces and warehouses across the country, consequently drawing significant interest from large investors.

7 in 10 institutional investments come from domestic players in Q3

<ul class="summary-list"><li><keyword id="11948131" type="UNKNOWN" weightage="60" keywordseo="ryan-cohen" source="Orion">Ryan Cohen</keyword> bought 100,000 shares in <keyword id="11937112" type="UNKNOWN" weightage="60" keywordseo="gamestop" source="Orion">GameStop</keyword>, boosting his stake in the Reddit favorite.</li><li>The transaction, made via his investment firm RC Ventures, gives him an 11.9% stake in the company.</li></ul>Billionaire activist investor Ryan Cohen has added to his <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> stake by buying 100,000 more shares, which sent the video-game retailer's stock soaring as much as 20%.Cohen's purchase, made through his investment firm RC Ventures, takes the total number of his GameStop shares to 9.1 million, or an 11.9% stake, a <a href="https://www.sec.gov/Archives/edgar/data/0001767470/000092189522000948/xslF345X03/form412128005_03222022.xml">regulatory filing</a> from Tuesday shows.His transactions were made at a price as low as $96.81 a share and as high as $108.82. The GameStop chairman <a href="https://twitter.com/ryancohen/status/1506395956832612354">tweeted</a> about his purchase.Cohen, the founder and former CEO of online petcare retailer <keyword id="11948134" type="UNKNOWN" weightage="60" keywordseo="chewy" source="Orion">Chewy</keyword>, managed to convince Wall Street that pets are a big business. GameStop approached him early last year to <a href="https://www.businessinsider.com/gamestop-ecommerce-ryan-cohen-leading-strategic-committee-2021-3?r=US&amp;IR=T">transform the retailer into the "Amazon of gaming"</a> via a focus on <keyword id="11894549" type="UNKNOWN" weightage="60" keywordseo="e-commerce" source="Orion">e-commerce</keyword> opportunities.Shortly after he joined GameStop's board in January last year, the company experienced one of the wildest moments in Wall Street history as <a href="https://markets.businessinsider.com/news/stocks/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1-1030009280">retail investors on Reddit boosted its shares</a> in defiance of long-established hedge funds. The resulting short squeeze spread to other heavily-shorted stocks like <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC</a>, <a href="https://markets.businessinsider.com/stocks/bbby-stock?utm_medium=ingest&amp;utm_source=markets">Bed, Bath &amp; Beyond</a>, and <a href="https://markets.businessinsider.com/stocks/bb-stock">Blackberry</a>.Thanks to its meme-stock status, GameStop gained more than 680% over the course of 2021.Cohen <a href="https://markets.businessinsider.com/news/stocks/activist-investor-chewy-cofounder-ryan-cohen-gamestop-stock-percent-gain-2021-1-1029980159?utm_medium=ingest&amp;utm_source=markets">spent $76 million for 9 million shares</a> in the video-game retailer in December 2020 — a stake worth more than $1 billion today after the meme stock's jaw-dropping gains in early 2021.He <a href="https://markets.businessinsider.com/news/stocks/gamestop-ryan-cohen-activist-letter-bed-bath-beyond-bbby-sale-2022-3">recently disclosed a 9.8% stake</a> in <a href="https://markets.businessinsider.com/stocks/bbby-stock?utm_medium=ingest&amp;utm_source=markets">Bed, Bath &amp; Beyond</a> and urged company directors to refocus their strategy and explore a sale of the entire company to a private buyer.GameStop rose 11% in Wednesday's pre-market, after a 20% jump in after-hours trading. The retailer closed up 30.7% higher at $123.14 a share on Tuesday, but is down 17% so far this year.<div type="image" title="GameStop stock" height="592" width="661" msid="90397811" hostid="261"></div>Read More: <a href="https://www.businessinsider.com/crypto-investing-3-etfs-to-buy-the-bitcoin-dip-without-owning-coins-2022-3">Crypto ETFs to buy: An investing expert names 3 top exchange-traded funds that can bring you exposure to blockchain tech without having to buy any tokens</a>

Activist investor Ryan Cohen snaps up 100,000 GameStop shares, sending the Reddit darling soaring 20%

<ul class="summary-list"><li>Billionaire investor <keyword id="12060658" type="UNKNOWN" weightage="60" keywordseo="dan-loeb" source="Orion">Dan Loeb</keyword> said he sees $1 trillion in untapped value in <keyword id="11893181" type="UNKNOWN" weightage="60" keywordseo="amazon" source="Orion">Amazon</keyword>, the WSJ reported Wednesday.</li><li>He believes <keyword id="12412604" type="UNKNOWN" weightage="60" keywordseo="aws" source="Orion">AWS</keyword>' enterprise value could top $1.5 trillion and its retail business could reach $1 trillion, it said.</li></ul>Hedge fund boss Dan Loeb told investors he sees about $1 trillion in untapped value in <keyword id="11894549" type="UNKNOWN" weightage="60" keywordseo="e-commerce" source="Orion">e-commerce</keyword> giant <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a>, the <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Factivist-investor-daniel-loeb-sees-roughly-1-trillion-of-untapped-value-in-amazon-11645048496%3Fmod%3Dmarkets_lead_pos1">Wall Street Journal</a> has reported.The market is failing to grasp the immense potential value from two of Amazon's businesses, Loeb said on a private call with investors in his <keyword id="12060659" type="UNKNOWN" weightage="60" keywordseo="third-point" source="Orion">Third Point</keyword> hedge fund, the WSJ reported Wednesday, citing sources.The opportunities lie in Amazon's cloud-computing unit — Amazon Web Services, or AWS — and its core e-commerce segment, the billionaire investor said, according to the report.One of the slides on the call put the enterprise value of AWS at more than $1.5 trillion, about in line with Amazon's current market capitalization of $1.6 trillion. Enterprise value is a calculation of a business' market worth that takes into account things like its debt and its cash reserves.Meanwhile, the potential worth of Amazon's retail business was pegged at $1 trillion, the WSJ said.At the end of 2021, Amazon represented a 5.47% stake worth $783.5 million in Third Point's book, a <a href="https://whalewisdom.com/filer/third-point-llc#tabholdings_tab_link">securities filing</a> from Monday showed.Before that, at the end of the third quarter, the hedge fund held a stake worth roughly $608 million in the e-commerce giant. That means Third Point substantially added to its position.Loeb — a well-known activist shareholder who famously urged Disney to permanently <a href="https://www.businessinsider.com/disney-stock-dan-loeb-stop-paying-dividend-plus-streaming-content-2020-10">suspend its dividend</a> and redirect the funds to its streaming service — doesn't seem to be pursuing a campaign at Amazon, the WSJ noted.And in a Third Point <a href="https://thirdpointlimited.com/wp-content/uploads/2022/02/Third-Point-Q4-2021-Investor-Letter-TPIL.pdf">investor letter</a> dated Wednesday, he said he had long admired the tech giant, as he commented on the fund's position in it."After lagging tech peers for most of last year, we significantly increased the size of our investment, reflecting our conviction that Amazon is at an important crossroads as new management considers its long-term strategic plan to move the company forward, which may include several bold initiatives that are the subject of wide market speculation at the proverbial investor water cooler," he wrote in the letter.Former AWS CEO Andy Jassy took over from Jeff Bezos as Amazon's chief in July, after the cloud unit grew into a <a href="https://www.businessinsider.com/andy-jassy-amazon-web-services-ceo-2021-1">$40 billion business</a>. While AWS contributes less than 13% of Amazon's revenue, it's seen as something of a <a href="https://www.businessinsider.com/andy-jassy-aws-amazon-spin-off-break-up-tim-bray-2021-2">cash cow</a> for the company.Loeb said he saw two things as a good sign: Amazon's board bought back shares in January, for the first time in a decade; and the additional disclosures it made in its revenue and expenses by category."Amazon is a large and complex company, and greater financial disclosure will no doubt help investors better understand the various parts of the business and significant sum-of-the-parts value," he said in the letter.The Third Point founder <a href="https://www.businessinsider.com/billionaire-dan-loebs-third-point-on-amazon-alibaba-disney-2020-8#amazons-continued-dominance-3">praised</a> Amazon at the height of the pandemic, especially the part played by its cloud services in remote working.Amazon's stock rose 76% in 2020, as people turned to online shopping during lockdowns. But it gained just 2.4% in 2021, and it is down 5.1% so far this year. It was last trading around $3,162 per share on Thursday. Third Point said its flagship offshore fund was down 5.3% in the fourth quarter, bringing its year-to-date returns to 22.7%. Read more: <a href="https://www.businessinsider.com/investing-strategy-stocks-to-buy-analysis-outlook-volatility-bny-mellon-2022-2" target="_blank" rel="noopener noreferrer">An investment chief for BNY Mellon Wealth Management breaks down why he's expecting stocks to bounce back by 8 to 10% this year despite recent volatility — and shares 3 investing strategies to excel in the current mid-cycle bull market</a>

Billionaire investor Dan Loeb says there's an epic $1 trillion opportunity in Amazon that the market is failing to see

<ul><li>Data centres, <keyword id="6713616" type="General" weightage="20" keywordseo="co-living-spaces" source="Orion">co-living spaces</keyword> along with other alternate real estate assets are seeing steady institutional inflows for four years, says Colliers.</li><li>India’s economic outlook is sturdy and the business case for alternative investments will only strengthen, it adds.</li><li>Data centres see almost half of all the institutional inflows into alternate assets. </li></ul>Indian alternate real estate assets like co-living spaces, data centres and more have been attracting domestic as well as foreign capital, along with conventional sectors like residential and office spaces. As of the first half of 2023, as much as $158 million was investment into such assets, says a report by Colliers. The breakout year for investments into these assets was 2022 when it touched $900 million. The key driver to this growth was foreign investments which rose six times last year as compared to 2019. India’s GDP is pegged to grow at 6.6% in 2023 as per IMF and the report adds that at such a time when India’s economic outlook remains sturdy amidst global challenges, the business case for alternative investments will only strengthen. “While core sectors continue to dominate the institutional inflows in the Indian real estate sector, the share of alternatives has risen significantly from 3% in 2019, to 18% during 2022,” said Piyush Gupta, managing director of capital markets &amp; investment services at Colliers. The billion dollar investment idea Since 2019, <keyword id="16069" type="General" weightage="20" keywordseo="data-centers" source="Orion">data centers</keyword> have received $1 billion of institutional inflows, with inflows rising multi-fold in the last five years. During the period under review (2019- H1 2023), data centres accounted for about 51% share in the total investments in alternatives, the report said. “India's data centre market is experiencing rapid growth, fuelled by a remarkable surge in virtualisation, e-commerce, cloud computing, and the prolific generation of public data. As the world's second-fastest-growing digital economy, India is set to witness the IT &amp; Communication sector's doubling by 2025, contributing approximately $400 billion to the Indian GDP,” said Amit Sarin, MD at Anant Raj, a real estate developer. The Government of India has recently enacted the Data Protection Bill to ensure protection of data and this has further boosted the demand for data centres, say experts. Data centres are also witnessing large platform deals between developers and investors who are looking to grow their businesses multi-fold. In May 2023, Lumina CloudInfra, a data centre platform owned and managed by Blackstone’s Real Estate and Tactical Opportunities funds, announced its plan to invest more than $300 million to develop a hyperscale data centre campus in Navi Mumbai. Reliance Industries also partnered with Brookfield Infrastructure and Digital Realty for developing data centres in select locations in India. Co-living — an emerging sector Other alternative asset classes such as life sciences, co-living have also seen increased traction, Colliers say. Alternate assets also include senior housing, holiday homes, student housing and co-living properties. The co-living sector in India too saw expansion during Covid-19 pandemic. “This growth has led to increased organisation within the sector, with only committed and reputable players remaining in the business. The demand for co-living accommodations continues to surge nationwide, indicating a promising outlook,” said Sunny Garg, co-founder &amp; CEO, Crib, a SaaS-based property management solution provider. Co-living also offers higher rental returns compared to traditional rental arrangements, making it an enticing prospect for institutional investors, Garg adds. The trend is also going beyond metros, experts say. “This demand is emerging in tier II cities as well. To meet this growing demand, we have strategic plans to expand our facilities into tier II cities like Ahmedabad,” said Abhishek Tripathi, co-founder, Settl, a co-living space developer.

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