Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Veterans Day, and thanks to all those who have served! Diet starts Monday, as they say, so why not take some advice from Super Bowl-winning quarterback Drew Brees. He spoke to Business Insider about <a target="_blank" rel="noopener" href="https://www.businessinsider.com/drew-brees-simple-wellness-rules-2024-11">five simple wellness rules he lives by</a>.In today's big story, Silicon Valley is getting excited about what Donald Trump's second term <a target="_blank" href="https://www.businessinsider.com/elon-musk-could-help-deregulate-tech-amid-a-trump-victory-2024-11">could mean for its businesses</a>.What's on deck:<ul><li>Markets: The Wall Streeters advising Trump's transition team <a target="_blank" href="https://www.businessinsider.com/wall-street-advisor-trump-lutnick-schwarzman-warsh-federal-reserve-2024-11">on key economic appointments</a>.</li><li>Tech: Check out our Tesla salary database that shows how Elon Musk courts 'hardcore' workers <a target="_blank" href="https://www.businessinsider.com/tesla-salary-database-elon-musk-pay-strategy-2024-11">with potentially lucrative stock grants</a>.</li><li>Business: The anxiety over high prices has <a target="_blank" href="https://www.businessinsider.com/retirement-saving-inflation-cost-of-living-crisis-investing-401k-pensions-2024-11">some Americans oversaving</a>.</li></ul>But first, time to get things going again.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">United States of Startups</h2><div type="image" title="Photo illustration of laptop, stacks of coins, stars and stripes" height="960" width="1920" msid="115186105" hostid="261" sizebytes="101980"></div>The startup community is ready to be let off its leash.VCs and founders are hopeful about what they anticipate to be a much looser environment for building and dealmaking under President-elect Donald Trump.Tech was always viewed as a beneficiary of the deregulation expected in Trump's second term. But Elon Musk potentially playing a role in the Trump administration means <a target="_blank" href="https://www.businessinsider.com/elon-musk-could-help-deregulate-tech-amid-a-trump-victory-2024-11">Silicon Valley could benefit even more</a>, writes Business Insider's Samantha Stokes, Riddhi Kanetkar, and Helen Li.One VC compared Musk streamlining the government to a "chainsaw through calcified butter."Even those who weren't rooting for Trump <a target="_blank" href="https://www.businessinsider.com/silicon-valley-trump-return-startups-venture-capital-2024-11">see benefits to a potential hands-off approach to their space</a>, which has faced turmoil in recent years.After years of big funding rounds, high-profile deals, and flashy IPOs, the startup environment has been much more rocky recently. There are many reasons for that — high interest rates, an uncertain economy, the market being somewhat overvalued — but a Biden administration that took a hard line on M&amp;A played a key role.FTC commissioner Lina Khan's attempt to block multiple deals has chilled the industry. Acquisitions are startups' most viable exit opportunity with the IPO window largely closed.The industry became somewhat stuck in place. Money tied up in startups couldn't be reinvested, and employees working at young companies waited for a liquidity event.<div type="image" title="Trump in shadow" height="1279" width="1920" msid="115186097" hostid="261" sizebytes="20896"></div>Trump's impact on the industry's hottest segment — artificial intelligence — isn't as clear.The space is already evolving as some of the biggest companies in the world are picking sides and consolidating power with partnerships and investments in high-profile startups. That was evident last week with a report that Amazon <a target="_blank" rel="noopener" href="https://www.businessinsider.com/anthropic-gaining-on-openai-ai-market-2024-11">was considering investing in Anthropic again</a>.The US is already investigating Microsoft and Nvidia over their AI dealings. Trump's deregulation approach could free up the space.But regulators launched investigations and filed lawsuits against Big Tech during Trump's first term. The president-elect also has a <a target="_blank" href="https://www.businessinsider.com/donald-trump-presidency-affect-big-tech-2024-11">complicated relationship with tech giants</a>, even threatening to <a target="_blank" href="https://www.businessinsider.com/donald-trump-mark-zuckerberg-sent-prison-elected-truth-social-2024-7">send Meta's Mark Zuckerberg to jail</a>. And Vice President-elect JD Vance previously said Khan is "doing a pretty good job" in her antitrust enforcement.Musk has also had run-ins with Zuckerberg, Amazon's Jeff Bezos, and OpenAI's Sam Altman, and his AI startup, xAI, is looking to compete in the space.And then there's Trump's immigration policy. The president-elect pledged to conduct mass deportations of undocumented immigrants. It's unclear if and how he might reshape the legal immigration system <a target="_blank" href="https://www.businessinsider.com/trump-immigration-policy-ai-tech-worker-shortage-2024-11">that places high-skilled workers from outside the US in tech jobs</a>, including those in AI.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>The coming <a target="_blank" href="https://www.businessinsider.com/coming-reign-only-child-americans-fewer-babies-siblings-costs-2024-11">reign of the only child</a>.</li><li>Elon Musk has named his <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-pushes-rick-scott-for-senate-majority-leader-2024-11">top choice for Senate majority leader</a>.</li><li>Forget swing states. Here's how the generations <a target="_blank" rel="noopener" href="https://www.businessinsider.com/how-generations-voted-trump-harris-gen-z-gen-x-boomers-2024-11">flipped on Election Day</a>.</li><li>What needs to go right for Intel, <a target="_blank" rel="noopener" href="https://www.businessinsider.com/intel-dow-jones-ai-chip-lag-2024-11">and what happens if it doesn't</a>.</li><li>Trump's plan for Social Security will help baby boomers in the short run and <a target="_blank" href="https://www.businessinsider.com/trump-tax-cuts-social-security-boomers-benefit-fund-depletion-2024-11">cut benefits for anyone younger</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Donald Trump and the Wall St. sign" height="1500" width="2000" msid="115186103" hostid="261" sizebytes="227372"></div><ol><li>Who Trump is turning to on Wall Street for advice. Cantor Fitzgerald CEO Howard Lutnick is co-chair of Donald Trump's transition team, and he's looking to his Wall Street peers for help. Apollo CEO Marc Rowan, Blackstone CEO Steve Schwarzman, and Charles Schwab are reportedly <a target="_blank" href="https://www.businessinsider.com/wall-street-advisor-trump-lutnick-schwarzman-warsh-federal-reserve-2024-11">some of the people lending their expertise to Lutnick</a>.</li><li>Citadel Securities just poached a 20-year Microsoft vet. Herb Sutter is joining Ken Griffin's market maker <a target="_blank" rel="noopener" href="https://www.businessinsider.com/why-citadel-securities-hired-coding-expert-microsoft-herb-sutter-2024-11">in a new tech leadership role</a>. Sutter is an expert in C++, the coding language that underpins most of Citadel Securities' technology.</li><li>Bitcoin's big hopes for Trump 2.0. The self-described "crypto president" flipped from cynic to cheerleader during his campaign. Now that he's headed back to the White House, crypto supporters hope for <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11">regulatory overhaul and an expanded mainstream role</a> for the digital currency.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Elon Musk" height="1500" width="2000" msid="115186106" hostid="261" sizebytes="652194"></div><ol><li>Inside Tesla's high-risk, high-reward compensation strategy. BI secured access to an internal Tesla salary database covering nearly 100,000 employees as of December 2021. The data reveals Elon Musk's pay strategy: <a target="_blank" href="https://www.businessinsider.com/tesla-salary-database-elon-musk-pay-strategy-2024-11">Lower salaries, bigger stock grants</a>.</li><li>How Reddit went mainstream. Not long ago, Reddit wasn't for everyone. It was a dark, weird little corner that prided itself on free speech but could quickly get ugly for users. Today, Reddit's community-driven content attracts users who would rather rely on human input than AI. <a target="_blank" href="https://www.businessinsider.com/reddit-mainstream-google-traffic-stock-revenue-human-users-2024-11">In that sense, it's a bit like the new Google</a>.</li><li>Behind Nvidia's plans to build robot brains. Nvidia robotics executive Rev Lebaredian told BI about the chipmaker's plans to tackle its newest frontier, bridging generative AI and physical robotics. The secret? <a target="_blank" href="https://www.businessinsider.com/rev-lebaredian-spearheads-nvidias-omniverse-push-in-ai-and-robotics-2024-11">Visualize the future, then build it</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="woman anxious in a pile of money with a house on top." height="846" width="1128" msid="115186104" hostid="261" sizebytes="133984"></div><ol><li>The high cost-of-living has some Americans going overboard with saving. Plenty of people in the US live paycheck to paycheck, but a growing cohort is doing the opposite. Despite having solid finances, anxiety about high prices has them <a target="_blank" href="https://www.businessinsider.com/retirement-saving-inflation-cost-of-living-crisis-investing-401k-pensions-2024-11">saving more than is recommended</a>. Stockpiling cash could ultimately cost them as they miss out on investment gains.</li><li>Don't poll the election; bet on it. In the weeks leading up to his victory, polls showed a virtual tie between Donald Trump and Kamala Harris. Yet prediction markets showed a solid Trump lead, proving what proponents have long argued: they can be more accurate than traditional polling. <a target="_blank" href="https://www.businessinsider.com/betting-markets-polls-trump-election-win-polymarket-kalshi-2024-11">Prediction markets' biggest cheerleaders explained why</a>.</li><li>Economists say Trump will give Americans the very thing they voted against. High prices helped Trump get elected. Experts say his proposals of <a target="_blank" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">lower taxes, higher tariffs, and mass deportations will be inflationary</a>. It could also make the Fed's recent rate-cut relief painfully short-lived if it's forced to hike rates again in response.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>It's Veterans Day. The nation's largest commemorative parade takes place in New York City.</li><li>The World Meteorological Organization releases the "State of the Climate" update at the UN's climate-change summit in Azerbaijan.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Grace Lett, editor, in Chicago. Hallam Bullock, senior editor, in London. Ella Hopkins, associate editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

Startups are ready to thrive under Trump, but some uncertainty remains in a key corner of the space

Hitting a hattrick of 6’s to dazzle the crowd hasn’t been the only cool thing <keyword id="6354832" type="General" weightage="20" keywordseo="MS-dhoni" source="Orion">MS Dhoni</keyword> has been up to of late. The Indian cricketing legend continues to make waves off the pitch in many ways, one of which involves investing in interesting and impactful <keyword id="20067715" type="General" weightage="20" keywordseo="start-up" source="keywords">start-up</keyword> projects. His latest venture involves an undisclosed investment in <keyword id="20656950" type="General" weightage="20" keywordseo="electric-cycle" source="keywords">electric cycle</keyword> manufacturer <keyword id="20835176" type="General" weightage="20" keywordseo="EMotorad" source="keywords" meta.keywordsubtype="org" meta.entityname="EMotorad" meta.hostid="261" meta.entityid="EMotorad">EMotorad</keyword>. In addition to his financial backing, <keyword id="19896463" type="General" weightage="100" keywordseo="Dhoni" source="keywords">Dhoni</keyword> is set to serve as the <keyword id="21321553" type="General" weightage="20" keywordseo="brand-endorser" source="keywords">brand endorser</keyword> for the company, further solidifying his role in shaping its future direction. Expressing his excitement for this venture, Dhoni commented: “The future is in our hands. We are in an era where innovation plays a huge role in shaping sustainable solutions, and I’m a fan of new-age companies that build these. EMotorad stands at the forefront of shaping the future of mobility, and I am thrilled to be a part of this journey!” <keyword id="20835175" type="General" weightage="20" keywordseo="Kunal-Gupta" source="keywords">Kunal Gupta</keyword>, founder and chief executive of EMotorad, expressed confidence that MS Dhoni's association with the brand will significantly boost awareness and trust in the e-biking sector. He told ET: “There is no one better and more reliable than Dhoni who resonates with what our brand stands for, an avid biker himself.” <div type="twitter" handle="e_motorad" handlename="e_motorad" favoritecount="0" retweetcount="0" id="1776119471704608843"></div> This Pune-based startup now joins a growing list of startups that are part of Dhoni's diverse portfolio, which includes ventures spanning various sectors such as fitness, technology, automotive and digital solutions. As per The Economic Times, notable among his investments are Bengaluru-based fitness startup Tagda Raho, digital lending platform Khatabook, and Gurugram-based used car retailer Cars24. Founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza and Sumedh Battewar, EMotorad has rapidly gained traction in the Indian e-cycle market, capturing a 65% share. With a focus on cutting-edge technology and strategic partnerships, the company aims to revolutionise transportation by offering high-quality and value-driven solutions. Back in November 2023, EMotorad demonstrated its growth potential by securing substantial funding worth Rs 164 crore in a Series B round led by Panthera Growth Partners. It has raised a total of $20 million in equity thus far. The company boasts a network of more than 350 dealers nationwide, along with over 10 experience centres. Despite its strong foundation in India, its reach spans across eight countries, demonstrating its global presence and influence. Offline dominance aside, EMotorad also leverages online platforms to reach a wider audience, including e-commerce giants like Amazon and Flipkart. In the fiscal year ending March 2024, EMotorad reported sales of Rs 140 crore, a notable increase from Rs 115 crore the previous year. Looking ahead to FY25, the company targets sales of Rs 270 crore, with approximately Rs 130 crore stemming from domestic markets and the remainder anticipated from regions like the US and Europe. With plans underway for a new factory and the development of innovative e-cycle designs, EMotorad is poised for further expansion. By diversifying its product range, expanding its market reach, and now partnering with one of the most beloved sporting figures in the country, the company is fully committed to solidifying its position as a leader in the evolving mobility landscape. (With inputs from The Economic Times)

Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad

Is it Friday yet? <a href="https://twitter.com/dandefrancesco">Dan DeFrancesco</a> in NYC. What a week it's been already for Wall Street. Fortunately, it seems like things are finally starting to calm down.It's also good to see the world goes on despite how crazy it might seem in our little bubble. Like this guy <a href="https://www.insider.com/man-sues-buffalo-wild-wings-says-boneless-wings-are-nuggets-2023-3">who's bringing a lawsuit against Buffalo Wild Wings.</a>Today, we've got stories on <a href="https://www.businessinsider.com/silicon-valley-banks-ends-plan-to-pay-employees-15-salary-2023-3">why SVB employees can't catch a break</a>, the <a href="https://www.businessinsider.com/gpt-4-openai-model-api-details-2023-3">newest edition of ChatGPT</a>, and a <a href="https://www.insider.com/penuma-implant-penis-enlargement-enhancement-surgery-james-elist-2023-3">cosmetic surgery that is bound to grab your attention</a>. But first, how's your credit?If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<a href="https://www.businessinsider.com/private-credit-shadow-banking-silicon-valley-bank-collapse-lending-2023-3"></a>1. What can you lend?For every action, there is a reaction. So, too, it goes on Wall Street, where one firm's downfall is another's opportunity.It's a lesson the tech community is learning the hard way in the wake of the implosion of Silicon Valley Bank.Already, there has been a mad dash among big banks and fintechs <a href="https://www.businessinsider.com/jpmorgan-big-banks-benefit-from-silicon-valley-bank-collapse-2023-3">to capture the more than $200 billion in deposits</a> housed at SVB and Signature Bank.However, SVB's relationship with the tech community wasn't just about being a place for them to park their cash. Arguably its greatest service to startups was as a lender.New companies, especially ones that don't make any money are "pre-revenue," as VCs like to say, aren't easy to lend to. How do you underwrite a loan for a company that didn't exist six months ago? What's the credit worthiness of a business that hasn't produced a product yet?As Insider's Rebecca Ungarino and Dakin Campbell reported, <a href="https://www.businessinsider.com/private-credit-shadow-banking-silicon-valley-bank-collapse-lending-2023-3">a new group has emerged looking to fill that role</a>. Private-credit firms, which include private-equity and alternative asset management firms, are <a href="https://www.businessinsider.com/private-credit-shadow-banking-silicon-valley-bank-collapse-lending-2023-3">offering loans to startups looking for help in the wake of SVB's crash</a>.What's interesting about this group is they operate outside the guardrails of traditional lending. These so-called "shadow bankers" are much less transparent than their big-bank counterparts. And while there are benefits to their discreetness — would you like everyone to know when you take out a loan? — there are also risks to letting investment firms lend billions of dollars without much oversight. This latest opportunity comes off the back of a massive 2022 for private credit, <a href="https://www.businessinsider.com/private-debt-credit-market-risks-outlook-2023-2022-11">as Rebecca has previously reported.</a> (<a href="https://www.businessinsider.com/private-credit-power-players-debt-executives-blackstone-kkr-ares-2022">She also mapped out the top players in the space, which is definitely worth a read.</a>)So we have investment firms lending billions of dollars to mostly unprofitable startups in a shroud of darkness.What could possibly go wrong?Call me paranoid. Call me pessimistic. Call me a socialist. Something just doesn't sit well with me about private-credit firms picking up where SVB left off. Do we honestly think this will end well? Insider's Darius Rafieyan, <a href="https://www.businessinsider.com/silicon-valley-bank-startup-debt-2023-3">who also reported on the rise of private credit looking to tap into venture debt</a>, noted in his story that SVB built a reputation for being willing to work with founders going through a tough time. (<a href="https://www.businessinsider.com/venture-capitalists-tech-founders-turned-on-silicon-valley-bank-2023-3">A courtesy the bank was not afforded in return.</a>)But maybe that's the point. SVB got into trouble because it didn't rule with an iron fist. And perhaps private-credit firms will provide the tough love the industry needs.Whatever happens, just don't ask for another bailout. <a href="https://www.businessinsider.com/private-credit-shadow-banking-silicon-valley-bank-collapse-lending-2023-3">Private-credit firms are looking to fill the lending gap left by Silicon Valley Bank's downfall.</a><a href="https://www.businessinsider.com/silicon-valley-bank-startup-debt-2023-3">Inside Silicon Valley Bank's $70 billion loan portfolio that's now up for grabs.</a>In other news:<a href="https://www.businessinsider.com/eggs-price-bacon-milk-cheaper-inflation-bird-flu-chickens-groceries-2023-3"></a><div type="image" title="Eggs, bacon, French toast" height="1333" width="1778" msid="98664840" hostid="261" sizebytes="164852"></div>2. More bad news for SVB employees. As if things weren't bad enough, the bank is walking back a previous offer to keep employees for 45 days and pay them 1.5 times their current salary. <a href="https://www.businessinsider.com/silicon-valley-banks-ends-plan-to-pay-employees-15-salary-2023-3">More on what that means, along with the internal memo announcing the news to staff.</a>3. Wall Street weighs in on SVB. Citadel's Ken Griffin said letting SVB fail without a bailout would have been "a great lesson in moral hazard," but instead US capitalism is "<a href="https://markets.businessinsider.com/news/stocks/citadel-ken-griffin-svb-rescue-capitalism-breaking-down-moral-hazard-2023-3?_gl=1*1e36kjj*_ga*NDEwMTkzOTE2LjE2NjYxMjcyNDQ.*_ga_E21CV80ZCZ*MTY3ODgwMzQ2OC40ODYuMS4xNjc4ODA1NTk1LjAuMC4w">breaking down before our eyes.</a>" Meanwhile, Bridgewater Associates founder Ray Dalio said the bank's failure was a "<a href="https://markets.businessinsider.com/news/stocks/ray-dalio-silicon-valley-bank-failure-markets-economy-fed-rates-2023-3?_gl=1*1x1l1rm*_ga*NDEwMTkzOTE2LjE2NjYxMjcyNDQ.*_ga_E21CV80ZCZ*MTY3ODgxNjczMi40ODkuMS4xNjc4ODIyMDcyLjAuMC4w">canary in the coal mine</a>" moment for the financial world. 4. I am a libertarian!* (*Some restrictions may apply.) The tech execs and VCs who long fought against government intervention were singing a different tune over the weekend as they looked for help getting their deposits out. <a href="https://www.businessinsider.com/silicon-valley-bank-fdic-bailout-regulations-2023-3">More on why the tech elites don't mind the government's help when it suits them.</a>5. Robots for the rich! Morgan Stanley wants to use an OpenAI-powered chatbot to help its 16,000 financial advisors, <a href="https://www.cnbc.com/2023/03/14/morgan-stanley-testing-openai-powered-chatbot-for-its-financial-advisors.html">CNBC reported.</a> The chatbot is built on GPT-4, which is the latest iteration of the AI model that was just unveiled. More on the newest tech that can "<a href="https://www.businessinsider.com/gpt-4-openai-model-api-details-2023-3">pass a bar exam and score a 5 on several AP exams.</a>"6. Inside a 21st century bank run. SVB's collapse demonstrated how quickly panic can spread amongst a community thanks to social media. <a href="https://www.businessinsider.com/silicon-valley-bank-svb-first-social-media-bank-run-2023-3">Here's why the SVB crisis changed the banking industry forever.</a>7. I've got some eggcellent news! The cost of two breakfast staples — eggs and bacon — are finally falling. Here's why you <a href="https://www.businessinsider.com/eggs-price-bacon-milk-cheaper-inflation-bird-flu-chickens-groceries-2023-3">can afford to get a BECSPK at your local deli without having to take out a loan.</a> (If you're not familiar with that acronym, step your game up.)8. Everything you need to know about that weight-loss drug people keep talking about. Ozempic, which is traditionally used for diabetes treatment, is also helping people shed pounds. <a href="https://www.businessinsider.com/weight-loss-drugs-craze-healthcare-weight-watchers-ozempic-2023-3">More on the buzzy drug here.</a>9. Are penis-enlargement implants the new breast implants? Yes, you read that correctly. A urologist wants to make his procedure the new norm, but it comes with risks. If you're interested in learning more about how men are *ahem* upgrading their member, <a href="https://www.insider.com/penuma-implant-penis-enlargement-enhancement-surgery-james-elist-2023-3">click here for more.</a> 10. The mystery of MH370 nine years on. It's been almost a decade since flight MH370 vanished with 239 people on board. <a href="https://www.businessinsider.com/mh370-theories-dead-ends-unanswered-questions-ahead-of-major-new-report-2018-7">Here's a rundown of all the theories on what could have happened.</a>Curated by Dan DeFrancesco in New York. Feedback or tips? Email <a href="mailto:ddefrancesco@insider.com">ddefrancesco@insider.com</a>, tweet <a href="https://twitter.com/dandefrancesco">@dandefrancesco</a>, or <a href="https://affiliate.insider.com?h=b83e78f6bb45aba7034c3baf1ec66d1b6c1d3afa26264bdb8604d5b9f2351262&amp;postID=6410875616ce4f28393fb98b&amp;site=bi&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fdan-defrancesco-29b12449%2F">connect on LinkedIn</a>. Edited by Jeffrey Cane (tweet <a href="https://twitter.com/jeffrey_cane">@jeffrey_cane</a>) in New York and Nathan Rennolds (tweet <a href="https://twitter.com/ncrennolds?lang=en">@ncrennolds</a>) and Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

What we lend in the shadows

<ul class="summary-list"><li>Cryptocurrency lending is becoming big business as investors search for strong returns.</li><li><keyword id="11486125" type="UNKNOWN" weightage="60" keywordseo="amber-group">Amber Group</keyword> has been a big winner, reaching a valuation of $1 billion in just four years.</li><li>It trades crypto but makes most of its money like a bank: lending for more than it borrows.</li></ul>The <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-today-broader-crypto-sell-off-drag-ether-dogecoin-2021-7">recent plunge</a> in <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> has sent investors searching elsewhere in the digital universe for sky-high returns.Many of them are getting into the fast-growing sector of <keyword id="9825993" type="UNKNOWN" weightage="60" keywordseo="Crypto-lending">crypto lending</keyword>, which can net investors returns far above the measly 0.05% or so that banks offer on deposits.Retail investors can get crypto "savings" accounts that typically offer annualized returns of between 5% and 12%. Braver braver souls can lend to <keyword id="11094379" type="UNKNOWN" weightage="60" keywordseo="decentralized-finance">decentralized finance</keyword> projects in the wilder corners of the market and earn several thousand percent.One beneficiary of the crypto lending boom has been Amber Group, a Hong Kong-based startup that has <a href="https://markets.businessinsider.com/currencies/news/amber-group-bitcoin-crypto-startup-investment-tiger-global-coinbase-2021-6">become worth $1 billion</a> after a June fundraising round - and after just four years in existence.Amber offers high-frequency and algorithmic trading, derivatives and various other fancy products. But, like many crypto lenders, its core business model is simple. It takes crypto from "savers" who want to lend, and lends crypto to institutions or people that want to borrow it, for example hedge funds shorting bitcoin.Read more: <a href="https://www.businessinsider.com/how-to-find-the-best-yields-crypto-lending-defi-monica-2021-6">The co-founder of the first federally chartered crypto bank shares his favorite strategy for finding the best yields in crypto lending - including specific 'low-hanging fruit' for traders</a>Its products offer returns ranging from 3% and 40% or above. Focused on Asia, it mainly serves institutions, but is expanding its offering to retail customers."What we are doing essentially is similar to a bank," Amber's chief executive officer Michal Wu told Insider this week. "Of course, we do take a bit of interest margin on that ourselves."That interest margin accounts for 70% to 80% of Amber's revenues, which could be around $500 million in 2021. The business, which has about $1.5 billion under management, has attracted investment from the likes of crypto exchange <a href="https://markets.businessinsider.com/stocks/coin-stock">Coinbase</a> and hedge fund Tiger Global Management.Coinbase is itself getting in on the lending game. The biggest US crypto exchange announced at the end of June that it's launching a crypto savings account that offers 4% annualized interest. Gemini, Bitfinex and BlockFi are among the numerous other companies offering similar products.So what's the catch? Well, if a return is much higher than on a standard savings account, it must be a much riskier investment.The chief danger for retail investors is that these savings products have no federal deposit insurance. Investors are handing over control of their crypto to relatively new companies, who could <a href="https://markets.businessinsider.com/currencies/news/south-african-brothers-billions-bitcoin-disapper-crypto-heist-2021-6">run off with it</a> or go bust.David Grider of research house Fundstrat said in a recent note: "If the lender's assets become impaired somehow during a sell-off, where liquidated collateral doesn't cover loans issued, or during a hack lose funds... or due to improper management of the business - users can lose a substantial portion of their funds."Coinbase has sought to calm investors' nerves by assuring them that it doesn't lend to unauthorized third parties. And Wu says Amber Group only lends to institutions on an over-collateralized basis, meaning borrowers have to stump up more of one asset than they're borrowing of another.Wu says crypto finance's promise of steady returns is drawing in large numbers of new investors, including retail traders and the uber-wealthy - and even traditionally conservative family investment offices.Like many more financially minded crypto advocates, Wu says he welcomes <a href="https://www.businessinsider.com/britain-bans-cryptocurrency-exchange-binance-from-operating-in-uk-2021-6#:~:text=Markets-,Britain%20bans%20cryptocurrency%20exchange%20Binance%20from,the%20UK%20without%20'written%20consent'&amp;text=Britain's%20financial%20regulator%20has%20ordered,regulated%20activity%20in%20the%20UK.&amp;text=Binance's%20CEO%20has%20previously%20said,stories%20on%20Insider's%20business%20page.der's%20business%20page.">tougher regulation</a>. "There are a lot of bad actors in this industry, let's be honest," he says. "It's actually better for the regulators to be more involved early on… the [companies] that can both innovate and also be compliant and really deal with global regulation will prevail."

Crypto lending is booming as investors hunt for yield. It turned this company from niche startup to $1 billion unicorn in just 4 years.

<ul class="summary-list"><li>UK-based Greensill is facing bankruptcy after <keyword id="48085" type="CITY" weightage="60" keywordseo="Credit-Suisse">Credit Suisse</keyword> froze $10 billion in funds tied to the firm.</li><li>Credit Suisse had grown concerned over Greensill's ties to steel magnate, Sanjeev Gupta, the Wall Street Journal reported.</li><li>A second Swiss <keyword id="6412746" type="UNKNOWN" weightage="60" keywordseo="lender">lender</keyword>, GAM Holding, also suspended an investment fund connected to the <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> firm.</li></ul>SoftBank-backed Greensill Capital is facing bankruptcy after Credit Suisse froze $10 billion worth of <keyword id="511322" type="PERSON" weightage="60" keywordseo="investment-funds">investment funds</keyword> linked to the UK-based lender, the <a href="https://www.wsj.com/articles/credit-suisse-suspends-funds-tied-to-softbank-backed-greensill-11614599752">Wall Street Journal reported</a>.The <a href="https://www.credit-suisse.com/about-us-news/en/articles/media-releases/csam-suspends-supply-chain-finance-funds-202103.html">Swiss bank said on Monday</a> it suspended the funds because some assets in them are "currently subject to considerable uncertainties with respect to their accurate valuation."Greensill has appointed Grant Thornton to guide it through possible restructuring, and it could file for insolvency within days, WSJ said, citing sources. The lender is also exploring a potential sale of its operating business for $100 million, representing a fraction of its peak valuation of $4 billion, to private-equity firm Apollo Global Management.The lender was founded in 2011 by 44-year-old Lex Greensill, a former Citigroup and Morgan Stanley financier. The former banker from Australia, who is also a client of Credit Suisse's private bank, established his billionaire status when <keyword id="163404" type="COMPANY" weightage="60" keywordseo="Softbank">SoftBank</keyword> plowed $1.5 billion of funding into his company in 2019, according to the <a href="https://www.ft.com/content/52957c7d-c6ae-45de-904d-eaed3036c83f">Financial Times</a>. Greensill did not immediately respond to Insider's request for comment.The <keyword id="138263" type="PERSON" weightage="60" keywordseo="startup">startup</keyword> specializes in supply-chain finance that allows businesses to lengthen the time to make payments to their suppliers. Greensill packages these short-term cash advances into bond-like securities to sell to investors that would then get a higher return than they would from bank deposits. Credit Suisse, its key source of financing, was a major buyer of Greensill's securities.Problems began when the Swiss bank grew concerned over Greensill's ties to UK-based steel tycoon Sanjeev Gupta, a former shareholder in the British startup, WSJ reported. Greensill supplied financing to Gupta, who was then able to build a metals empire by procuring failed steel mills and other distressed industrial businesses. Another reason that led to Credit Suisse's suspension is that Greensill's insurance policies, which were a key factor behind investor comfort, expired recently, according to WSJ's sources.Another Swiss fund manager, GAM Holding, also <a href="https://www.gam.com/en/news-articles/press-releases/corporate/gam-to-initiate-orderly-wind-down-of-gam-greensill-supply-chain-finance-fund">froze an investment fund</a> linked to Greensill on Tuesday due to "recent market developments and resulting media coverage."

SoftBank-backed startup Greensill faces bankruptcy after Credit Suisse freezes $10 billion in funds over asset values, report says

<ul class="summary-list"><li>There are more than 50,000 US VC-backed startups, and many will be looking for capital soon. </li><li>Many startups raised money in early 2022, and the average time between fundraising is 1.5 years.</li></ul>Don't let the sudden reopening of the IPO market distract you – <a target="_blank" href="https://www.businessinsider.com/startup-mass-extinction-event-has-begun-venture-capital-2023-6">startups are still dying left and right.</a>They're shutting down, looking for buyers, or begging for an investor to write them a check to get to the end of the year, if that.My colleagues Melia Russell and Rob Price recently wrote about one of the latest victims — <a target="_blank" href="https://www.businessinsider.com/lending-startup-captain-winds-down-seeks-buyer-layoffs-2023-8">lending company Captain.</a> The startup has followed the typical survival strategy of a desperate startup this year by first cutting costs with layoffs. Then searching for more capital with fundraising or some kind of financing or debt. And when that failed, looking for a buyer. Captain, however, has not decided to shut down – yet.Recur, an NFT startup once valued at more than $300 million, decided <a target="_blank" href="https://twitter.com/RecurForever/status/1692633345753002406?s=20">to shut down recently</a>. And a <a target="_blank" href="https://affiliate.insider.com?h=95924a7addba4031192eb27d168a08633f4bd4a368d3ca7dfb8695cfa43283a9&amp;postID=64e7fcf1065a66ec8f77fe2d&amp;postSlug=startup-wave-shutdowns-late-2023-vc-2023-8&amp;site=bi&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fposts%2Fitstimconnors_weve-decided-to-shut-down-our-company-101-activity-7100150741830414336-L1MW%2F%3Futm_source%3Dshare%26utm_medium%3Dmember_desktop">tiny edtech Web3 startup called 101 also called it quits</a>.There's no need to get into why this is the case for so many startups trying to stay afloat. We all know venture capital funding is <a target="_blank" href="https://www.businessinsider.com/pre-empting-vc-funding-dip-prompts-uptick-capital-2023-7">tough to come by</a> these days. It's cratered to levels not seen since before 2020. And there are now more than 50,000 venture-backed companies in the US – a figure that's doubled since 2016 – that are at risk of "high capital shortage," PitchBook notes in its second-quarter "Venture Monitor" report."The US VC market is now operating through five consecutive quarters of less capital making it to the market than is estimated to be demanded," wrote PitchBook analyst Kyle Stanford in a recent note titled "Accounting for the Overcapitalization of VC." "The past two quarters of this deficit were more severe than the most overcapitalized quarter in 2021."So let's peel back the curtain a bit.Venture capital funding was overly abundant in the latter half of 2020 and <a target="_blank" href="https://www.businessinsider.com/total-global-us-venture-capital-funding-in-2021-broke-records-2022-1#:~:text=In%202021%2C%20Global%20VC%20funding,area%20with%20the%20greatest%20gains.">all of 2021.</a> There were nearly 19,000 deals done that year, according to PitchBook, until things started to taper off in 2022.Stanford points out that the average time between funding rounds is now around 1.5 years. – basically what it was before the pandemic boom times. So, hypothetically, if a company last raised capital in the first quarter of 2022 (one of the most active in terms of deal count, PitchBook data shows), many startups will be on the hunt for new capital in the fourth quarter of 2023.Every company's situation is a little different based on their operating expenses and whether they've gotten fresh funding already. Though, unless you're an AI startup, the chance of a VC check has been slim to none. So what are their options? Likely a sale or shutting down.But it's not just VCs who are being stingy. All those <a target="_blank" href="https://www.businessinsider.com/tiger-global-coatues-venture-capital-plans-backfired-vcs-say-2022-11">crossover firms that wanted to get in on the action like Tiger Global</a> (which by the way, did 335 deals in 2021, according to Crunchbase) and Coatue, aren't doing the kind of deals <a target="_blank" href="https://www.businessinsider.com/tiger-global-changed-venture-capital-startups-funding">that they used to</a>. Participation has dropped from more than 550 deals and a quarterly peak of nearly $50 billion in 2021 to fewer than 200 deals and a quarterly peak of around $15 billion in 2023, Stanford wrote."We believe that a large portion of the supply-side deficit is derived from the crossover and other nontraditional investors that have pulled back from VC to more traditional strategies," he wrote.Startups are likely going to clamor for VCs attention in the coming months as those cash runways continue to dwindle. As IVP's <a target="_blank" href="https://twitter.com/tomloverro/status/1620466827519496194?s=20">Tom Loverro so presciently pointed out</a> back in January: Late 2023 and 2024 for startups will make the 2008 financial crisis "look quaint for startups."

Startup extinction season is going to kick into high gear — and there's likely going to be a bloodbath soon for some of the 50,000 VC-backed startups  

<ul><li><keyword id="2181438" type="PERSON" weightage="20" keywordseo="Aye-Finance">Aye Finance</keyword>, the lending startup for micro, small and medium enterprises, has roped in former <keyword id="1391131" type="COMPANY" weightage="20" keywordseo="Hero-FinCorp">Hero Fincorp</keyword> Chief Business Officer <keyword id="252940" type="PERSON" weightage="20" keywordseo="Samir-Mehta">Samir Mehta</keyword> as its deputy CEO. </li><li>Mehta will focus on scaling up Aye’s business and will implement strategies to enhance the MSME lenders’ performance and capability.</li><li>Recently, in June, Aye Finance had raised ₹210 crore from CapitalG – Google’s parent company Alphabet’s growth fund. </li></ul>Aye Finance, the lending startup for micro, small and medium enterprises, has roped in former Hero Fincorp Chief Business Officer Samir Mehta as its deputy CEO. Mehta comes with 22-year experience in BFSI, and at Aye Finance, he will focus on scaling up Aye’s business and will implement strategies to enhance the MSME lenders’ performance and capability. “Aye provides much-needed financial services to India’s micro-scale informal businesses and the entrepreneurs who run them – a critical, but often overlooked and underserved population,” Mehta said about joining the startup. “He adds further strength to our team, as we successfully negotiate the times of this economic disruption. Samir’s expertise in P&amp;L management of large businesses and in scaling up lending to the SME segment will be very valuable as we emerge from this period,” said Sanjay Sharma, Managing Director of Aye Finance. Recently, in June, Aye Finance had raised ₹210 crore from CapitalG – Google’s parent company Alphabet’s growth fund. The Series E round also saw participation from GT Lightstone, Falcon Edge Capital, A91 Partners, and MAJ Invest. Aye Finance, founded in 2014, has disbursed loans worth ₹3000 crores to over 200,000 businesses in six years. In November last year, the startup had raised ₹125 crores from the Dutch entrepreneurial development bank – FMO. The company also recently ranked 14 in India’s best places to work by Great Place to Work Institute. The six-year-old Aye Finance is getting aggressive on its focus sector – the <keyword id="6393272" type="UNKNOWN" weightage="20" keywordseo="MSMEs">MSMEs</keyword>, given the government push for the growth of India’s small businesses. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/masayoshi-son-best-bet-for-future-profit-is-paypay-in-japan-built-on-vijay-shekhar-sharma-paytm-model-in-india/articleshow/77518892.cms">Masayoshi Son’s best bet for future profit is PayPay in Japan⁠ — built on Vijay Shekhar Sharma’s Paytm model in India</a>

You Searched For "Lending startups" and got 7 results

Startups are ready to thrive under Trump, but some uncertainty remains in a key corner of the space

Dan DeFrancesco

Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad

Kunal Kambli

What we lend in the shadows

Dan DeFrancesco

Crypto lending is booming as investors hunt for yield. It turned this company from niche startup to $1 billion unicorn in just 4 years.

Harry Robertson

SoftBank-backed startup Greensill faces bankruptcy after Credit Suisse freezes $10 billion in funds over asset values, report says

Shalini Nagarajan

Startup extinction season is going to kick into high gear — and there's likely going to be a bloodbath soon for some of the 50,000 VC-backed startups

Vishal Persaud

Google-backed Aye Finance brings on board former Hero Fincorp Chief Business Officer

Sanchita Dash

Popular Keywords

Buying Guides