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As 2024 wraps up, YouTube has unveiled its year-end trends, offering a window into the moments, creators, and events that captivated audiences across India. From cricketing showdowns to viral music tracks, the platform once again reflected the nation’s pulse, where billions of views transformed fleeting topics into lasting cultural highlights. The year’s biggest digital trends featured an eclectic mix of events and personalities. Dominating the conversation were global sporting spectacles like the ICC Men’s T20 World Cup, the Indian Premier League, and the Paris 2024 Olympics. These events amassed billions of views, cementing cricket and sports as evergreen passions for Indian audiences. Cultural moments also had their share of the spotlight. The Ambani wedding, a topic of unmatched intrigue, garnered over 6.5 billion views on videos that included “Ambani” and “Wedding” in their titles. Meanwhile, phrases like “moye moye” became internet sensations, accumulating 4.5 billion views. Iconic figures like Diljit Dosanjh and Ratan Tata inspired millions, with Dosanjh’s name linked to videos generating nearly 4 billion views. YouTube’s end-of-year report also shed light on India’s top content creators, whose innovative storytelling captured audiences worldwide. While global powerhouse MrBeast led the charge with 332 million subscribers, homegrown creators like Filmy Suraj Actor (32.5M) and Sujal Thakral (33.5M) proved the power of local content. Others such as Cristiano, Box of Vengeance, and the Stokes Twins further added to the platform’s diverse creator ecosystem. Indian creators made waves on Shorts, with hyperlocal music in languages like Marathi and Garhwali crossing borders to reach global audiences. Priyal Kukreja championed women’s voices, while creators turned memes, cricket moments, and celebrity weddings into engaging, bite-sized stories that resonated deeply with fans. Music continued to play a pivotal role in shaping YouTube trends. Songs like “Kurchi Madathapetti” by Sahithi Chaganti and Sri Krishna, “Jale 2” by Shiva Chaudhary, and “Aaj Ki Raat” by Madhubanti Bagchi and Divya Kumar defined 2024’s soundtrack. On YouTube Shorts, hits such as “Dhana” by Priyanka Meher and Rongpaz and “Tauba Tauba” by Karan Aujla kept audiences grooving. These tracks not only became fan favourites but also helped drive the platform’s engagement, with users creating endless remixes, dance challenges, and covers that extended the lifespan of each hit. One of the most striking trends of 2024 was the rise of active fan participation. Viewers weren’t just consuming content—they were shaping it. From cricket memes and music edits to reactions to celebrity weddings, fans co-created content that amplified the original stories, making them even more impactful.

YouTube unveils year-end trends, here is what India watched in 2024

<keyword id="19913963" type="General" weightage="100" keywordseo="Indian-startups" source="keywords">Indian startups</keyword> have experienced a remarkable surge in funding during the first eight months of 2024, with a significant increase of 53.1% compared to the same period in 2023, according to a report by <keyword id="19910824" type="General" weightage="20" keywordseo="GlobalData" source="keywords" meta.keywordsubtype="org" meta.entityname="GlobalData" meta.hostid="261" meta.entityid="GlobalData">GlobalData</keyword>. From January to August 2024, Indian startups secured $7.5 billion in <keyword id="19913965" type="General" weightage="20" keywordseo="venture-capital" source="keywords">venture capital</keyword> funding, a sharp rise from the $4.9 billion raised during the same timeframe in the previous year. The report highlighted that not only did the total funding amount grow, but the average deal size also increased. A total of 780 venture capital deals were completed between January and August 2024, compared to 742 deals in the same period in 2023. These deals contributed to the $7.5 billion raised this year, marking a 5.1% rise in deal volume alongside the impressive 53.1% growth in funding value. GlobalData's report emphasised India's growing prominence in the Asia-Pacific region as a major hub for venture capital investments, ranking second only to China. Globally, India secured a spot among the top five countries in terms of both the number of venture capital deals and the total funding value. "The marked increase in venture funding value highlights the burgeoning investor confidence in India's <keyword id="19930407" type="General" weightage="20" keywordseo="startup-ecosystem" source="keywords">startup ecosystem</keyword>,” explains Aurojyoti Bose, lead analyst at GlobalData. "India's performance signals a promising landscape in the <keyword id="20948843" type="General" weightage="20" keywordseo="VC-funding" source="keywords">VC funding</keyword> market". From a global perspective, India accounted for 7.3% of the total venture capital deals between January and August 2024, with a 4.6% share of the total funding value. Additionally, India saw a notable increase in high-value VC deals, with several investments exceeding $100 million. Some of the standout funding rounds this year included <keyword id="12437554" type="General" weightage="20" keywordseo="zepto" source="Orion">Zepto</keyword>, which raised $665 million and $340 million in two separate rounds, Meesho's $300 million round, <keyword id="20201450" type="General" weightage="20" keywordseo="pharmeasy" source="keywords">PharmEasy</keyword> securing $216 million, OYO raising $173.5 million, and Radiance receiving $150 million. These impressive funding rounds underscore the continued momentum and strength of India’s startup ecosystem in 2024, setting the stage for further growth and innovation in the coming years. (With inputs from ANI)

Indian startup finance ecosystem still going strong, report shows over 50% growth in VC funding over last year

Foreign investors have withdrawn nearly Rs 20,000 crore from Indian stock markets in just five trading days (November 4–8), continuing a trend of large-scale selling that began last month. Experts say investors are now moving their money to China, largely due to the high valuations presently prevailing in Indian markets. In early November, FPIs have offloaded as much as Rs 19,994 crore in Indian markets. The month prior, i.e., October, was one of the worst months in terms of foreign outflows, with FPIs making a net withdrawal of Rs 94,017 crore. Before this, Indian markets faced such a situation during the pandemic, when FPIs withdrew Rs 61,973 crore from equities in March 2020. <h2>Why Are Investors Leaving? </h2>According to Himanshu Srivastava of Morningstar Investment Research India, two main factors are driving this exodus. First is China's renewed appeal due to lower stock valuations and new economic stimulus measures. In a bid to nudge the domestic economy and bail state governments, China recently approved a 10-trillion yuan (US $1.4 trillion) package. Per reports, approximately 60% of this stimulus focuses on allowing local governments to refinance the mountain of debt on them. Srivastava explains foreign investors are also flocking to US dollar and Treasury yields, which have appreciated significantly in the recent past, leading FPIs to anticipate a stronger US economy going ahead. Moreover, high valuations in Indian markets are discouraging foreign investors from putting more money in the economy. As a result, over the past week, the selling pressure eroded Rs 74,563 crore in market value for Reliance Industries, while Bharti Airtel and ICICI Bank lost Rs 26,274 crore and Rs 22,254 crore, respectively. The combined market valuation of six of the top 10 most-valued firms dipped by Rs 1,55,721.12 crore last week. <h2> Silver linings</h2>Despite the ongoing outflux of funds since last month, November also saw unprecedented applications of about 40–50 new FPI registrations, which are eyeing to enter the Indian market. This was due to markets SEBIs recent relaxation to NRIs, permitting them to participate up to 100% and announcing measures for ease of entry and operations in India. On the other hand, FPIs invested Rs 599 crore in the debt general limit and Rs 2,896 crore in the debt voluntary retention route (VRR) during the period under review. So far this year, FPIs have invested Rs 1.06 lakh crore in the debt market. <li class="whitespace-normal break-words"></li>Going ahead, investors will be looking for certain macroeconomic cues, which include corporate earnings reports, India's inflation (CPI) and industrial production (IIP) data on November 12, the US inflation report on November 13, and wholesale price index (WPI) data on November 14.

FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

<ul class="summary-list"><li>The healthcare market looks nearly ready for the next wave of IPOs.</li><li>Barclays' Jon Swope says IPO hopefuls should prepare by increasing the awareness of their companies.</li></ul>It's been a rough few years for healthcare initial public offerings. But the next wave of public healthcare companies looks to be on the horizon.At least two healthcare companies are considering public-market debuts in the not-so-distant future. The diabetes startup <a target="_blank" class="" href="https://www.businessinsider.com/exclusive-omada-health-confidentially-filed-s1-ipo-public-2024-10">Omada Health confidentially filed its S-1 this summer</a>. And the physical-therapy startup <a target="_blank" class="" href="https://www.businessinsider.com/hinge-health-s-1-morgan-stanley-ipo-2024-9">Hinge Health has hired banks including Barclays</a> as it prepares to file its S-1 confidentially.Hinge and Omada likely aren't the only healthcare companies <a target="_blank" class="" href="https://www.businessinsider.com/healthcare-startups-ipo-public-markets-reopens-2024-1">weighing an IPO as market conditions improve</a>.Jon Swope, a managing director in Barclays' healthtech division, told me he expects a pickup in healthcare IPOs in 2025 after a three-year drought.<div type="image" title="A headshot of Jon Swope." height="1200" width="846" msid="114356715" hostid="261" sizebytes="24914"></div>I spoke with him about what the next wave of healthcare IPOs could bring — and which healthcare startups are in the best position to test the public markets.The following has been edited for clarity and length.In the past few years there have been a number of take-privates and near-delistings in healthcare, as well as plenty of healthcare companies that have otherwise struggled in the public markets. What can we learn from those companies' challenges, and how might they impact the next round of healthcare IPOs?The whipsaw of the public markets over the last five years has created a challenging backdrop, even with the overall market improving.From 2019 through 2021, nearly 20 companies went public through IPOs or SPACs in healthtech. At its peak, the total market cap for healthtech and digital health was over $300 billion. Through both take-privates and declines in share prices, that's down to just about $90 billion.Large take-privates like Change Healthcare, Nuance, Cerner, Inovalon, and others are part of the story. The other part is that, on average, the companies that went public or were already public are down by about 80% — names like Teladoc, Accolade, and Health Catalyst.The enthusiasm that supported the last wave, with respect to the positive and innovative business models in healthtech and digital health, is not gone. It's just that these companies haven't been able to achieve growth with profitability. When there's a next set, there's going to be more of a focus on growth and profitability.You see that in the IPOs that happened this year: Waystar and Tempus. Waystar is large-scale, profitable, with growth, and Tempus has the promise of AI, high growth, and emerging profitability. Both have performed since their public debut.In the private sphere, many investors have leaned away from healthcare services and into healthcare AI. What models do you expect the healthcare market to favor in this next round of IPOs?There are three general categories that are investible in healthtech and digital healthcare. One is simply data and then technology and healthcare. Healthcare is arguably two decades behind every other industry in the adoption of technology. Whether it's software, tech-enabled models, or, importantly, the data opportunity and AI opportunity, tech and data infrastructure for healthcare is No. 1.No. 2 is consumer-centric models, such as some B2B2C models, the employer and payer digital-health models, or even direct-to-consumer models. Look at <a target="_blank" class="" href="https://www.businessinsider.com/inside-hims-founders-journey-to-go-public-via-spac-2021-1">the performance of Hims</a>, which has emerged from its post-SPAC purgatory.Consumer-centric healthcare is the future of healthcare, and it's becoming more of our collective reality. The companies with consumer-centric business models that deliver longitudinal engagement and outcomes, financial and clinical, for consumers and the payers of healthcare, both employers and insurance companies, are certainly on the list.No. 3 is value-based care. Much has been made of that as a category, tying together costs and outcomes. And while some of the brick-and-mortar value-based care companies have had their own challenges, support for the adoption of value-based care by providers will continue to be where healthcare is going.Are there models in healthcare that you think are perhaps not the best fit for the public markets right now?The less complex the elevator pitch, the better. While I can't say there's a model that's not a fit, what we heard from investors as things were bending in the wrong direction last boom cycle was: "Wait, what did I just buy? I'm not sure I fully understand this company's business model."Now you have to juxtapose that against the reality of healthcare, which is complex. So it's companies that can articulate a clear and simple story while also navigating the layers of the healthcare ecosystem in executing on their business model.That includes riding the existing rails. In the last five-plus years we've seen companies figuring out how to work with the payers and providers that make up the healthcare ecosystem to bring innovation and disruption to how we experience healthcare.Given the major slowdown in SPAC deals in the past few years and Nuvo's poor performance (<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-08-22/newly-public-pregnancy-care-firm-nuvo-files-for-bankruptcy">and bankruptcy</a>) this year, could we see more SPAC deals for healthcare startups next year?It's a four-letter word for the foreseeable future. I imagine there will be SPACs created, and there are still others that haven't run out of time, but it's unlikely that we see companies using that vehicle that could go public the regular way.For startups that don't go public, will we see M&amp;A pick up in 2025? With large retailers like Walmart pulling away from healthcare, who are the potential buyers?M&amp;A is picking up already, as evidenced by volume this year, and it will continue to, particularly in an easing financing environment and macro backdrop where bid-ask spreads are narrowing.The consolidation activity is in three categories. First, there are the large-cap consolidators including retailers, payers, and Big Tech. There will be deals there, but there are only so many that will be done by that group, which is not much more than a dozen companies.The next is large-cap, and often private-equity-backed, healthtech consolidators. A number of them are private and will continue to be buyers.The third category is just smaller mergers of equals. Especially for enterprise sales, selling into payers or selling to providers, scale matters, and so size matters. We'll see small companies merge with other small companies to get there.Anything else startups should know that might impact this next cycle of IPOs?While these companies that went public in the last cycle may not have fulfilled their promises, they set the stage for an attractive IPO market by going public the right way — executing on the business and growing it, and increasing awareness around the company well in advance of an IPO.At the back end of the last boom wave there was a rush to go public, and SPACs were examples of that. I think that in the 2025, 2026, and 2027 IPO classes, there will be a number of companies that think about it the right way, not rushing to get to the public market.

2025 could bring a wave of healthcare IPOs. Here's what startups should know, according to a top banker.

In a dramatic and unanticipated turn of events, India faced a crushing collapse on home soil, bowled out for a mere 46 runs by New Zealand at Bengaluru's M. Chinnaswamy Stadium on Thursday. This stunning score marks India's lowest total in a Test match played at home and their third-lowest overall, joining a list of rare and painful lows in the nation's cricketing history. The opening Test match of the series was delayed by rain, with only the second day offering play. Winning the toss, Indian skipper <keyword id="19899523" type="General" weightage="20" keywordseo="rohit-sharma" source="keywords">Rohit Sharma</keyword> chose to bat, looking to put runs on the board early, despite the overcast conditions. However, the gamble backfired spectacularly, as the New Zealand pacers took full advantage of the moist, lively pitch. Within mere overs, India found themselves teetering at 10/3, a position that stunned fans and set the tone for what would become an unforgettable day of cricket. <keyword id="19987862" type="General" weightage="20" keywordseo="Tim-Southee" source="keywords">Tim Southee</keyword> and <keyword id="20165631" type="General" weightage="20" keywordseo="Matt-Henry" source="keywords">Matt Henry</keyword> quickly unleashed a series of pace deliveries that exposed the Indian batting lineup's vulnerability. Henry’s clinical precision saw him claim 5-15, while young <keyword id="23582868" type="General" weightage="20" keywordseo="William-ORourke" source="keywords">William O’Rourke</keyword> picked up 4-22, creating havoc in just his second Test match. With a combination of bounce and movement, O'Rourke forced Indian batsmen into errors they wouldn’t normally make. Virat Kohli, who has been a mainstay in India’s lineup for over a decade, fell victim to O'Rourke with a zero, adding to the five ducks in India’s scorecard. Kohli’s dismissal — his first duck in 32 innings — was a major blow, as he edged one to leg gully, silencing a shocked crowd. New Zealand’s performance was an astonishing team effort. Henry not only claimed his 100th Test wicket but also made history by achieving the feat in just 26 innings — just one shy of Kiwi legend Richard Hadlee. O’Rourke’s contributions were similarly significant. His delivery that dismissed Rohit Sharma, which nipped back sharply, epitomised the skillful use of favorable conditions and set the tone for New Zealand’s onslaught. By lunch, India had already lost six wickets, with just 34 runs on the board. The pressure didn’t let up after the break. Ravichandran Ashwin, dismissed on the first ball after lunch, couldn’t hold off Henry’s relentless pace attack. Shortly after, <keyword id="19907058" type="General" weightage="20" keywordseo="Rishabh-Pant" source="keywords">Rishabh Pant</keyword> — India’s top scorer with a modest 20 runs — attempted a counterattack, only to be caught by Tom Blundell. With India at 40-9, their fate was effectively sealed, and the final wicket fell shortly thereafter, leaving India with a dismal total of 46. The shock waves from this collapse were profound. This was India’s lowest score ever on Asian soil, surpassing the previous record of 53 set by West Indies against Pakistan in 1986 and Pakistan against Australia in 2002. The last time India faced a similar low was their 36 all-out against Australia in Adelaide in 2020 — a game that led to major introspection in Indian cricket circles. (With inputs from agencies)

India bowls out at 46, making the lowest Test total at home; Pant top scorer with 20 runs as NZ claim five ducks

Indian runner <keyword id="22627814" type="General" weightage="20" keywordseo="Vikash-Singh" source="keywords">Vikash Singh</keyword> clocked a time of 1:22:36, securing the 30th position in the men's <keyword id="22595126" type="General" weightage="20" keywordseo="20km-race-walk" source="keywords">20km race walk</keyword> at the <keyword id="20201477" type="General" weightage="100" keywordseo="Paris-2024-Olympics" source="keywords">Paris 2024 Olympics</keyword> on Thursday. Despite his commendable effort, Vikash, the fastest among the three <keyword id="20430758" type="General" weightage="20" keywordseo="Indian-athletes" source="keywords">Indian athletes</keyword> in the event, could not secure a medal. The 28-year-old had previously shown promise, finishing fifth in the same event at the Asian Games last year. Joining Vikash in the race was <keyword id="22595125" type="General" weightage="20" keywordseo="Paramjeet-Singh-Bisht" source="keywords">Paramjeet Singh Bisht</keyword>, who made his Olympic debut. Paramjeet completed the race in 1:23:48, ranking 37th. He marked a significant milestone in his athletic career. Unfortunately, national record holder Akshdeep Singh faced a setback as he bowed out of the race after completing only 6 kilometres, unable to finish the event. The race, held at the picturesque Trocadero, saw Ecuadorian athlete Brian Daniel Pintado clinch the gold medal with an impressive time of 1:18:55. Brazil's Caio Bonfim followed closely, securing the silver medal with a time of 1:19:09. Spaniard Alvaro Martin completed the podium, taking the bronze with a time of 1:19:11. India's quest for an <keyword id="20633205" type="General" weightage="20" keywordseo="Olympic-medal" source="keywords">Olympic medal</keyword> in the 20km race walk continues, with this event once again highlighting the challenging nature of the competition. Despite the setback, the performance of Vikash Singh and Paramjeet Singh Bisht showcases the potential of Indian athletes in international athletics. Their participation and effort serve as a stepping stone for future success in the sport. Later, at the multi-sport event, India shooter <keyword id="20166561" type="General" weightage="20" keywordseo="Swapnil-Kusale" source="keywords">Swapnil Kusale</keyword> won the <keyword id="20257145" type="General" weightage="20" keywordseo="Bronze-medal" source="keywords">bronze medal</keyword> in the men's 50m rifle 3P event at the ongoing Paris Olympics on Thursday. Kusale also became the first Indian shooter to win a medal in the men's 50m rifle 3P event. Kusale clinched the bronze medal for India in the 50m Rifle 3 Positions Men's Final after finishing in third place with an aggregate of 451.4. He secured India's 3rd medal in shooting overall. Earlier in the qualification round, Indian shooter Swapnil Kusale finished seventh in the qualification round of men's 50m 3P to qualify for the final at the ongoing Paris Olympics on Wednesday. Indian shooters Aishwary Pratap Singh Tomar and Swapnil Kusale both appeared in the men's 50m 3P qualification round at the Paris 2024 Olympics. On his Olympic debut, Kusale finished seventh with a score of 590-38x. While Tomar ranked 11th with a total of 589-33x. Only the top eight shooters qualified for the final round, and Tomar failed to make his place in the final round. People's Republic of China's Liu Yukun registered the qualification Olympic record with a total of 594-38x.

Indians fail to medal in men's 20km race walk at Paris 2024 Olympics

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Sunday edition, a roundup of some of our top stories. Former Google lead Andrew Yeung has been dubbed the <a target="_blank" href="https://www.businessinsider.com/andrew-yeung-google-employee-throwing-techs-hottest-parties-new-york-2023-7">Gatsby of Silicon Valley</a>. He shared the <a target="_blank" href="https://www.businessinsider.com/how-to-grow-business-network-coffee-chat-2024-11">coffee chat formula</a> that's helped him grow his seven-figure tech event business.On the agenda today:<ul><li>Goldman Sachs tapped 95 people to <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partners-revealed-see-full-list-names-diversity-women-2024-11">join its exclusive partnership</a>.</li><li>Amazon CEO Andy Jassy explains <a target="_blank" href="https://www.businessinsider.com/amazon-ceo-explains-why-he-wants-fewer-managers-hate-bureaucracy-2024-11">why he wants fewer managers</a>.</li><li>A free meal cost an investor <a target="_blank" href="https://www.businessinsider.com/how-a-free-meal-cost-an-investor-his-retirement-savings-2024-10">his retirement savings</a>.</li><li>America has a shoplifting epidemic. <a target="_blank" href="https://www.businessinsider.com/middle-class-shoplifting-retail-theft-crime-stealing-stores-2024-11">The thieves aren't always who you think</a>.</li></ul>But first: What happens next after Donald Trump's resounding <a target="_blank" href="https://www.businessinsider.com/how-trump-won-election-high-prices-cost-of-living-unemployment-2024-11">US election victory</a>.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><h2 id="11850be2-84e0-4d2d-bc14-a7b71271d9fa">Preparing for 47</h2><div type="image" title="President-elect Donald Trump smiles at an election night watch party at the Palm Beach Convention Center, Wednesday, Nov. 6, 2024, in West Palm Beach, Florida." height="2392" width="3581" msid="115143976" hostid="261" sizebytes="472336"></div>The most expensive presidential election in history is over, and the effects of Donald Trump's victory are already being felt in dollars and cents.Stocks surged, finishing the week at <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-today-sp500-crosses-6000-level-investors-cheer-trump-2024-11">record highs</a>. Bitcoin also hit record highs, while Tesla surpassed a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trillion-valuation-donald-trump-election-win-tsla-2024-11?utm_medium=ingest&amp;utm_source=markets">$1 trillion market cap</a>. Treasury yields also finished the week higher, as investors bet that a Trump White House will <a target="_blank" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">drive inflation</a>.Big companies are already weighing the potential impact of tariffs. Outdoors brand Yeti is looking for <a target="_blank" href="https://www.businessinsider.com/companies-making-changes-to-business-trump-2024-11#yeti-1">new suppliers</a>. Steve Madden plans to cut its <a target="_blank" href="https://www.businessinsider.com/companies-making-changes-to-business-trump-2024-11#steve-madden-2">sourcing of goods from China</a>. Airbus said it expects to pass the cost of any tariffs on to <a target="_blank" href="https://www.businessinsider.com/trumps-tariffs-threats-world-ceos-thoughts-trade-2024-11">airline customers</a>.In Silicon Valley, many venture capitalists and startup founders are cheering the prospect of less regulation and <a target="_blank" href="https://www.businessinsider.com/elon-musk-could-help-deregulate-tech-amid-a-trump-victory-2024-11">increased deal activity</a>.On Wall Street, too, there's hope of <a target="_blank" href="https://www.businessinsider.com/trump-election-citi-jane-fraser-regulators-frc-occ-2024-11">less onerous regulation</a>, particularly as several financiers are offering advice to the <a target="_blank" href="https://www.businessinsider.com/wall-street-advisor-trump-lutnick-schwarzman-warsh-federal-reserve-2024-11">incoming administration</a>.And at least <a target="_blank" href="https://www.businessinsider.com/wbd-trump-zaslav-consolidation-earnings-2024-11">one media CEO</a> hopes Trump's win will open the doors to consolidation.<h2 id="8de1f093-db58-438e-a296-ab09ff92ad5c">Meet Goldman's new partners</h2><div type="image" title="David Solomon smiles" height="3267" width="4900" msid="115143966" hostid="261" sizebytes="541678"></div>Goldman Sachs promoted 95 executives to its highest designation of leaders outside the C-suite. The new class is the largest number of partners to be promoted under CEO David Solomon.It's also one of Goldman's most diverse. A record 26 are women — a demographic that has been closely watched following a series of high-profile female partner exits — as well as a record level of Hispanic executive promotions, a company exec said.<a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partners-revealed-see-full-list-names-diversity-women-2024-11">Check out the list.</a>Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partner-promotions-feroz-khosla-youngest-financing-derivatives-2024-11">Inside the youngest member of Goldman's 2024 partner class's big day</a></li></ul><h2 id="69bad2e5-a5bf-4ba9-b958-e3eff00ffc5b">Andy Jassy hates bureaucracy</h2><div type="image" title="Andy Jassy" height="960" width="1920" msid="115143970" hostid="261" sizebytes="255456"></div>In an all-hands meeting this week, Amazon CEO Andy Jassy explained the company's recent plan to reduce the number of managers. According to a recording of the meeting obtained by BI, Jassy said the move was meant to root out bureaucracy.The goal is to make faster decisions and reduce management layers that are killing Amazon's unique culture, Jassy said. "The reality is that the S team and I hate bureaucracy," Jassy said, referring to Amazon's most senior leadership team.<a target="_blank" href="https://www.businessinsider.com/amazon-ceo-explains-why-he-wants-fewer-managers-hate-bureaucracy-2024-11">More from the all-hands meeting</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/amazon-ceo-says-rto-mandate-not-backdoor-layoff-2024-11">In all-hands meeting, Amazon CEO says RTO mandate not a 'backdoor layoff'</a></li></ul><h2 id="8d221ec2-a40e-4d73-80e7-638d6c30f428">Risky business</h2><div type="image" title="Plate full of cash" height="1500" width="2000" msid="115143967" hostid="261" sizebytes="366456"></div>There's no such thing as free lunch — or in one investor's case, free dinner. As a retiree, he was used to avoiding the countless postcards offering a fancy dinner accompanied by a presentation on investing advice.But on one occasion in 2010, he took the bait. There, he met one of the hosts who would eventually advise him to invest in financial products that ultimately cost him a chunk of his retirement savings.<a target="_blank" href="https://www.businessinsider.com/how-a-free-meal-cost-an-investor-his-retirement-savings-2024-10">Why these 'free lunch seminars' are common in the industry</a>.<h2 id="dc96d953-8312-4bf5-8432-dfb9ba5779e5">The great American shoplifting spree</h2><div type="image" title="A Shoplifting woman." height="1200" width="2400" msid="115143974" hostid="261" sizebytes="259560"></div>Regular Americans are shoplifting everything from tape measures to blocks of cheese. Rather than stealing out of true necessity, these shoplifters are opportunists: adults with decent jobs, firmly in the middle class.And they don't feel particularly bad about it. Some of them view shoplifting as a silly childhood habit they never kicked out, while others think of it as a way to fight back against goods that are unjustly expensive.<a target="_blank" href="https://www.businessinsider.com/middle-class-shoplifting-retail-theft-crime-stealing-stores-2024-11">Behind regular people's retail theft</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/rich-people-shoplift-self-checkout-why-explained-2023-12">Rich people are more likely to steal from self-checkout. Why?</a></li><li><a target="_blank" href="https://www.businessinsider.com/americas-war-organized-retail-crime-target-cvs-victorias-secret-2024-9">America's absurd war on 'organized retail crime'</a></li></ul>This week's quote:"I congratulate President Trump and we look forward to working with the new administration in support of sound policies that enhance economic growth and financial stability."— Goldman Sachs CEO David Solomon <a target="_blank" href="https://www.businessinsider.com/goldman-ceo-david-solomon-memo-trump-presidential-victory-policies-2024-11">in an internal memo to staff</a>.More of this week's top reads:<ul><li>Anthony Scaramucci tells BI <a target="_blank" href="https://www.businessinsider.com/why-trump-won-election-kamala-harris-biden-democrats-anthony-scaramucci-2024-11">four key reasons why Trump won</a>.</li><li>Sam Altman's hiring strategy <a target="_blank" href="https://www.businessinsider.com/sam-altmans-hiring-strategy-bets-on-talent-not-age-2024-11">bets on talent, not age</a>.</li><li>Silicon Valley is grieving over Trump, but <a target="_blank" href="https://www.businessinsider.com/silicon-valley-trump-return-startups-venture-capital-2024-11">quietly lauding a coming tech deal resurgence</a>.</li><li>After leadership changes, and layoffs, <a target="_blank" href="https://www.businessinsider.com/netflix-gaming-executive-reveals-new-ai-role-studio-shutdown-cuts-2024-11">Netflix's gaming exec reveals a new AI role</a>.</li><li>Donald Trump's election victory has <a target="_blank" href="https://www.businessinsider.com/what-second-trump-term-means-for-intel-2024-11">big implications for Intel</a>.</li><li>Food deliveries keep getting more expensive — <a target="_blank" href="https://www.businessinsider.com/us-diners-splurge-food-delivery-doordash-grubhub-ubereats-convenience-rules-2024-11">but we can't stop ordering</a>.</li><li>Your nest egg is private-equity giant Apollo's <a target="_blank" href="https://www.businessinsider.com/apollo-global-single-biggest-opportunity-growth-retirement-athene-2024-11">"single biggest opportunity" for growth</a>.</li><li>A leaked memo shows <a target="_blank" href="https://www.businessinsider.com/google-workspace-chief-stepping-down-leaked-memo-2024-11">Google's Workspace chief is stepping down</a>.</li><li>Hollywood is going conservative, turning toward <a target="_blank" href="https://www.businessinsider.com/hollywood-embracing-conservative-themes-after-playing-to-the-coasts-2024-11">faith and family-based shows</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/grace-lett">Grace Lett</a>, editor, in Chicago. <a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-yen">Amanda Yen</a>, fellow, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.</li></ul>

Insider Today: Preparing for Trump 2.0

World Cup-winning opening batter Gautam <keyword id="19929078" type="General" weightage="20" keywordseo="Gambhir" source="keywords">Gambhir</keyword> was on Tuesday named as the head coach of the Indian men's cricket team, replacing <keyword id="19923639" type="General" weightage="20" keywordseo="Rahul-Dravid" source="keywords">Rahul Dravid</keyword> at the top post. Dravid quit the post after India's recent <keyword id="19921630" type="General" weightage="20" keywordseo="T20-World-Cup" source="keywords">T20 World Cup</keyword> triumph in the Americas. "It is with immense pleasure that I welcome Mr @GautamGambhir as the new Head Coach of the Indian Cricket Team. Modern-day cricket has evolved rapidly, and Gautam has witnessed this changing landscape up close. Having endured the grind and excelled in various roles throughout his career, I am confident that Gautam is the ideal person to steer Indian Cricket forward," <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="261" meta.entityid="BCCI">BCCI</keyword> secretary Jay Shah posted in his 'X' account. "His clear vision for #TeamIndia, coupled with his vast experience, positions him perfectly to take on this exciting and most sought-after coaching role. The @BCCI fully supports him as he embarks on this new journey." The 42-year-old Gambhir, a key member of the 2011 ODI World Cup-winning Indian side, led Kolkata Knight Riders to IPL titles in 2012 and 2014. He was the mentor of the KKR team that won the IPL title in 2024. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/xiaomi-su7-with-up-to-800-km-range-showcased-in-india-but-you-cant-buy-it/slidelist/111609513.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/xiaomi-su7-with-up-to-800-km-range-showcased-in-india-but-you-cant-buy-it/slidelist/111609513.cms" target="_blank">Xiaomi SU7 with up to 800 km range showcased in India but you can’t buy it</a><a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank">Redmi 13 5G with 120Hz display launched in India starting at ₹13,999</a><a href="https://www.businessinsider.in/business/auto/webstories/top-10-selling-cars-in-india-in-june-2024-tata-punch-leads-the-list/slidelist/111578419.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-10-selling-cars-in-india-in-june-2024-tata-punch-leads-the-list/slidelist/111578419.cms" target="_blank">Top 10 selling cars in India in June 2024 – Tata Punch leads the list</a>

Gautam Gambhir appointed as Indian team head coach

<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

Mumbai (Maharashtra) [India], June 27 (ANI): Ahead of his side's ICC <keyword id="152505" type="General" weightage="20" keywordseo="T20-World-Cup-semifinal" source="Orion">T20 World Cup semifinal</keyword> clash against India, former England cricketer <keyword id="45330" type="General" weightage="20" keywordseo="Paul-Collingwood" source="Orion">Paul Collingwood</keyword> hailed Men in Blue pace spearhead <keyword id="1627109" type="General" weightage="20" keywordseo="Jasprit-Bumrah" source="Orion">Jasprit Bumrah</keyword>, calling him the "<keyword id="22196639" type="General" weightage="20" keywordseo="best-cricketer-in-the-world" source="Orion">best cricketer in the world</keyword>". It will be a rematch of the semifinal from the 2022 edition of the tournament as a red-hot Team India will meet England in the second semifinal of the ongoing ICC <keyword id="19921630" type="General" weightage="20" keywordseo="T20-World-Cup" source="keywords">T20 World Cup</keyword> at Guyana on Thursday. The last time these two nations faced off in a Men's T20 World Cup semi-final was just 19 months ago in Adelaide, when a remarkable opening partnership between Jos Buttler and Alex Hales saw England cruise to 10 wicket win that forced a complete rethink in India's T20 strategy and move away from more established superstars to younger blood, from conservatism to aggression. This time around, India has more batting firepower led by experienced campaigners skipper Rohit Sharma and Virat Kohli, more attacking options through the middle overs, and more variation in their attack. But the defending champions will take some beating, especially with skipper Jos Buttler and his new opening partner Phil Salt both in blistering form. Speaking exclusively in the Star Sports Press Room, former England captain Collingwood spoke on the impact <keyword id="19989685" type="General" weightage="100" keywordseo="Bumrah" source="keywords">Bumrah</keyword> has on the <keyword id="8675" type="General" weightage="20" keywordseo="indian-cricket-team" source="Orion">Indian cricket team</keyword>. He said, "I think if you had a piece of paper and had to pick a cricket team, in any form of the game, Jasprit Bumrah would be the first name going on that list right at the top. It is as simple as that. He is the best cricketer in the world at this moment. The skill level, the pace, and the deception that he has in T20 cricket are incredible." However, Collingwood said that England is playing an aggressive brand of cricket and if they manage to attack Jasprit, it will have a huge affect on the game. He also advised England not to take a conservative approach and focus on just seeing off Bumrah safely. "You saw Travis Head get after Bumrah a couple of times, in the Australia match. And the impact it has if the opposition takes down your spearhead could dishearten the Indian cricket team. So that is an approach that England may take, but it is a risky one because we know how skillful and how many wickets Bumrah can take," he concluded. In six matches, Bumrah has taken 11 wickets so far in the tournament at an average of 8.54 and an economy rate of just above 4. His best bowling figures are 3/7. England is just two games away from making history and becoming the first men's team to retain a T20 World Cup, as per the ICC. On the other hand, India has not won this tournament since its inception back in 2007, and is searching for its first World Cup win in any format since 2011's 50-over tournament. India's last ICC trophy was in 2013, when they captured the ICC Champions Trophy in England. India squad: Rohit Sharma (c), Hardik Pandya, Yashasvi Jaiswal, Virat Kohli, Suryakumar Yadav, Rishabh Pant, Sanju Samson, Shivam Dube, Ravindra Jadeja, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Arshdeep Singh, Jasprit Bumrah, and Mohammed Siraj. England squad: Jos Buttler (c), Moeen Ali, Jofra Archer, Jonathan Bairstow, Harry Brook, Sam Curran, Ben Duckett, Tom Hartley, Will Jacks, Chris Jordan, Liam Livingstone, Adil Rashid, Phil Salt, Reece Topley, Mark Wood. (ANI)

"Best cricketer in the world": Collingwood hails Bumrah ahead of India vs England T20 WC semifinal clash

<ul class="summary-list"><li>Louis Lehot, a Silicon Valley law-firm partner, specializes in taking companies from startup to IPO.</li><li>Lehot gave his suggestions for how to prepare, like hires to make and risks to consider pre-IPO.</li></ul>The IPO market is expected to pick up later this year, so Business Insider emailed Silicon Valley lawyer Louis Lehot, a partner at Foley &amp; Lardner, for advice on how startups should prepare for life as public companies.Lehot has more than 25 years of experience advising businesses, financial sponsors, venture capitalists, investors, and investment banks on topics including equity offerings, mergers, acquisitions, and spinoffs. His work often involves helping startups prepare for initial public offerings.The following has been edited for brevity.What's the environment like for IPOs?2023 was the toughest year for IPO activity in more than two decades. The IPO outlook for the second half of 2024, or at least the first half of 2025, can only get better.Riskier assets, such as Bitcoin, have rebounded strongly, suggesting risk appetite is a lot higher. The Fed is expected to make at least one rate cut later this year. The after-market performance of some recent IPOs has been stronger. Earnings reports from public companies are improving.There's a substantial backlog of companies preparing to go public as soon as the window opens, and the outcome of important federal and state election races should bring greater clarity.Which sectors are most likely to be successful in an IPO?<ul><li>Healthcare and Biotech: These companies go public as part of their venture financing path, often before they have a product in the market. As a result, they are heavily risk-driven, and the opportunity to make alpha with smaller amounts of capital invested is real. If risk appetite is truly back, we can expect investors to pile into biotech, life sciences, and medical device IPOs. New tech, enabled by CRISPR and AI, should increase the speed and accuracy of clinical trials.</li><li>Green Energy: As the effects of climate change spread, we expect industrial policy to favor renewable energy companies and the ecosystem that they enable, maybe even nuclear energy. Renewables and related technologies are gaining traction with a growing focus on sustainability.</li><li>Enterprise software and fintech: There's a solid backlog of late-stage private companies whose venture capital and private equity investors require a public market exit to return capital to limited partners and raise new funds. As a result, we expect a bumper crop of enterprise software (B2B solutions, cloud services, and cybersecurity) and fintech companies (digital banking, payments, and financial services) to come to market when the window opens later this year or next.</li></ul>Are public market investors generally keen to invest in IPOs, or are they focused elsewhere?Public market investors are selective, focusing on established profitability and sustainable growth over speculative, high-growth stories. Many investors are diverting their attention to safer, more predictable assets due to market volatility and economic concerns.What are IPO investors expecting in the current climate?<ul><li>Profitability, or a clear path to profitability: Unlike previous periods focused solely on growth, profitability is now critically correlated to a successful IPO.</li><li>Sustainable revenue growth: Consistent and predictable growth trajectories</li><li>Robust metrics: Strong KPIs and unit economics</li><li>Valuation discipline: More conservative valuations compared to the frothy markets of past IPO booms</li></ul>Should tech startups want to go public right now?If you have a choice, you stay private.For example, if you're the CEO of a successful startup with more than $100 million in revenue that's growing in excess of 30% at over 40% gross profit margins, every door is open to you.There's ample private capital to finance your company's scaling needs. There is likely a robust secondary market for your personal shares if you need to take some chips off the table. You have no obligation to report your compensation and equity holdings publicly or your company's quarterly results, much less live under the public microscope and the constant glare of Wall Street analysts who are focused on reporting on any short-term event that might drive trading.Fringe benefits include more control over business decisions, fewer regulatory requirements, and the ability to focus on long-term growth.The choice is not even close. Any CEO-founder would want to stay private. Look no further than the example of the <a target="_blank" class="" href="https://www.businessinsider.com/how-collison-brothers-built-stripe-most-valuable-us-startup-2021-3">Collison brothers at Stripe</a>.However, the characteristics that drive a transformational CEO-founder to achieve this level of commercial success are not necessarily driven by the same logic.The vision of a transformational CEO extends far beyond the perceived short-term benefits of a quick exit. I'm surrounded by mission-driven CEO's with the burning ambition to achieve global market ubiquity, which usually means an IPO is a necessary step on their long road.What are the most important hires to make before an IPO?<ul><li>Chief Financial Officer: A CFO with public company experience is crucial for navigating financial reporting and investor relations.The CFO of a public company is the first or second line of communication with Wall Street, key long-term investors, auditors of your financial statements, and financial regulators. In addition, the finance department will quickly need someone who can manage internal controls over financial reporting and write public financial reports. This person is usually a "controller."The CFO will also need someone who can forecast, model, and plan ahead and ensure that the company, when going public and forever thereafter, accurately telegraphs its future performance on a forward-looking, one-quarter, and one-year-ahead basis. This is usually a vice president for forecasting, planning, and analysis, or FP&amp;A. For larger public companies, a chief accounting officer is also on the road map.</li><li>General Counsel: Whereas 20 years ago, a general counsel was not hired until just before an IPO, nowadays, a company with $10 million of revenue or more may consider hiring a head of legal in-house to control costs, particularly for rote, repeatable tasks. But an IPO puts the company under a microscope of regulatory, investor, employee, and public scrutiny where the stakes get large enough that an experienced general counsel is usually hired, and if large enough to support the cost, even a deputy general counsel for securities law compliance to manage the more hours intensive processes of making the company ready for IPO and maintaining compliance thereafter.</li><li>Investor Relations Officer: About a year ahead of the big day, a forward-thinking CFO will try to hire a vice president of investor relations who has been through the process of managing a syndicate of analysts before, during, and after an IPO. Particularly for larger companies who garner analyst coverage from six or more sell-side and buy-side analysts, making sure the analysts are getting adequate information to build quality models will ensure higher quality coverage and greater liquidity for the company once public, which is a critical indicator of success.</li><li>Audit Committee Chair: While a pre-IPO company will seek to hire a majority-independent board of directors, the audit committee chair is one key role to fill on the board.The audit committee chair is usually a former CFO who has deep knowledge of the IPO process and the interplay of a board of directors and its independent registered public accounting firm, which is a critical relationship at every stage of an IPO and beyond.The audit committee's role is to oversee the production and auditing of the financial statements and the financial integrity of the company's public disclosures and compliance with regulatory standards. The audit committee chair will want to make sure there are at least two other directors who can serve independently on the audit committee who are financially literate and expert enough to assist them.</li></ul>What are the biggest changes startups must go through to be IPO-ready?To consider a successful IPO, a tech company will need to have line of sight to $100 million in revenue with eight quarters of historical growth and line of sight to eight quarters in the future of predictable growth. For a tech business, annual growth in GAAP revenue will need to be in excess of 20% (and ideally double this amount) at gross margins of 40% or more. These are herculean feats that few businesses will ever achieve.There also has to be some other ingredient, which some call the "sizzle," to inspire long-term fundamental investors to believe that growth can be significantly greater than what the models show over the next eight quarters.Historically, that sizzle could be explained by exposure to international markets that would be enabled by the scaling capital provided by the IPO.Today, revenue from a US tech business may well be evenly split between US and international markets from the outset, so the "sizzle" will need to come from planned advances in technology, new product releases, and new product enhancements that will unlock new and significant branches of growth.What are the key process changes companies need to make ahead of an IPO?<ul><li>Leveling up the company's financial reporting function: Enhanced accuracy and transparency in financial statements is an absolute necessity, both historically and forward-looking for eight quarters in both directions.</li><li>Corporate governance: Companies need to recruit an experienced, independent, and supportive board that can provide wisdom to management during the IPO process and beyond.</li><li>Operational scalability: Ensuring systems and processes can support growth and compliance requirements. Have you installed a world-class ERP software system? Do you have a contract management system and CRM software? Do they all work together?</li><li>Compliance and risk management: Implementing robust controls to meet regulatory standards is a playbook that a new CFO and new General Counsel can implement with the help of outside advisors.</li></ul>

How startups can get in top shape for an IPO, according to Silicon Valley lawyer Louis Lehot

Providence [Guyana], June 27 (ANI): It will be a battle of T20I titans as Men in Blue will be taking on England in the semifinals of the ongoing ICC <keyword id="19921630" type="General" weightage="20" keywordseo="T20-World-Cup" source="keywords">T20 World Cup</keyword> at Guyana on Thursday. The clash will witness Jos Buttler-led England aim for second successive T20 WC final, while Men in Blue will be aiming to avenge a brutal 10-wicket loss to the same opponent in the final four clash of 2022 tournament at Adelaide. Since that heartbreaking loss at Adelaide, India has made a lot of changes to their white-ball game, introducing a pleothra of young and more explosive talent like Rinku Singh, Yashasvi Jaiswal, Tilak Varma, Ruturaj Gaikwad, etc leading upto the tournament. Though the Men in Blue decided to revert back to experienced campaigners skipper <keyword id="19899523" type="General" weightage="20" keywordseo="Rohit-Sharma" source="keywords">Rohit Sharma</keyword> and <keyword id="19907934" type="General" weightage="20" keywordseo="Virat-Kohli" source="keywords">Virat Kohli</keyword> after an incredible, record-shattering 50-over World Cup in India, the explosiveness and risk-taking defining the modern T20 cricket still form the heart of India's approach. This was evident from the performances of these two legends in the Indian Premier League (IPL) 2024, especially Virat, who turned into a six-hitting, spin-demolishing machine of the older days, abandoning his more conservative and measured approach to the short format. However, Virat has failed to translate his IPL form into an international arena, scoring just 66 runs in six games at an average of 11.00, with the best score of 37 and two ducks. Having scored the most runs in T20 Cup history, this campaign has put somewhat of a dent on his legacy as the best batter ever to grace the tournament. All would be forgiven, however, if Virat returned to his clutch ways in knockouts. Notably, Virat has smacked a half-century in every T20 World Cup knockout game, including 72* (2014 semifinal), 77 (2014 final), 89* (2016 semifinal) and 50 (2022 semifinal). Despite this poor run, England coach Matthew Mott is not taking Virat lightly. In the pre-match presser, he said about the star batter, "Virat has proven his class over a very long period of time and he is one of the players we have prepared well for. We know how he can play; we know how destructive he can be and we also know his game smarts. If the game demands an innings of a different nature, he has got that skill." On the other hand, skipper Rohit Sharma has shown much better form. In six matches of the tournament so far, Rohit has scored 191 runs at an average of 38.20, with a strike rate of 159.16 and two half-centuries. His best score is 92. The semifinal will be a battle of two high-octane opening pairs, India's 'Ro-Ko' pair against England's Buttler (191 runs in six innings) and Phil Salt (183 runs in six innings). This pair has managed to put up 286 runs together in six innings this tournament at an average of 57.20, with their best partnership being a 117-run effort. Salt himself has been in fantastic form ever since he posted two successive centuries against the West Indies in a T20I series last year, having a fantastic IPL campaign for the Kolkata Knight Riders (KKR), scoring 435 runs in 12 games, including four fifties for the champions. In the last 12 T20Is, Salt has scored 507 runs in 11 innings at an average of 63.37 and a strike rate of over 182, with two tonnes and fifty. His best score is 119. The batter averages 52.2 and strikes at 180 in the West Indies, where he has gotten two centuries and two fifties in 14 innings with 574 runs. England will be in battle against two of the best pacers of this tournament, Jasprit Bumrah and Arshdeep Singh. In six matches, Bumrah has taken 11 wickets so far in the tournament at an average of 8.54 and an economy rate of just above 4. His best bowling figures are 3/7. Arshdeep is the second-highest wicket-taker, with 15 scalps in six games at an average of 11.86 and best figures of 4/9. How Salt and Buttler survive their onslaught in powerplay will be crucial in deciding the course of the match. Men in Blue, on the other hand, have everything going right for them, except Virat's form maybe. Undefeated, they have registered comprehensive wins while chasing and defending alike and their campaign has been an incredible team effort. However, the pressure of playing in knockouts becomes a different kind of beast for India, who have fallen inches short of an ICC trophy nearly every year after a semifinal/final qualification. Rohit attributes India's recent knockout performances both to fear of failure and bad luck. "It is a bit of both. See, we want to treat this game as another game that we have played in this tournament. We don't want to think about what lies ahead, what the context of the game is, and all of that. Everyone knows in the back of their minds that it is a semi-final. But you don't want to keep talking about it again and again and again. And not to think about what has happened in the past. I think we, all of us, the entire group, are in a good frame of mind. We are playing well as a team, enjoying each other's company and each other's success at times as well. I think it's important to just carry on that, carry on from what we have been doing in this tournament," the India captain said in the pre-match press conference. Though the clash looks extremely promising, a <keyword id="21711086" type="General" weightage="20" keywordseo="rain-threat" source="keywords">rain threat</keyword> looms over this 2022 T20 World Cup rematch. As per World Weather, it is currently partly cloudy and 24 degrees celsius in Georgetown, Guyana. At 9 AM local time, before the 10:30 AM start, light and patchy rain is likely to occur in Guyana. Light rains are forecast for every hour till 4 PM, after which the weather will remain partly cloudy for the remainder of the day. India has been allocated the Guyana semifinal due to match timings, as the 10:30 AM local time slot, as per Indian Standard Time, is a much more TV-friendly slot of 8 PM. The final, to be held in Bridgetown, Barbados, on June 29, will take place at 10 AM local time, and happen at 7:30 PM in India, as per ESPNCricinfo. There will be no reserve day for the second semifinal. However, an extra 250 minutes worth of time will be given to the match. This extra time has been added since the tournament schedule does not allow for a reserve day. If reserve day was given for semifinal two, it would have meant just a day's worth of gap for recovery and practice between that game and the final. The second semifinal could be in for a tight squeeze if persistent rain takes place because, as per rules, a result can only be decided if both teams bat for at least 10 overs. In the majority of T20 games, the teams batting second are supposed to bat for at least five overs in order to achieve a result. This system was in place for the majority of the ICC T20 World Cup matches. But in the knockout games though, teams batting second will have to face at least 10 overs in order to decide on a result as per the Duckworth-Lewis method. This was also the case for the knockout games in the 2022 T20 World Cup in Australia. As per an ICC spokesperson, overs will be reduced only from 2:40 PM, which is 250 minutes after the scheduled start of 10:30 am. For a 10-over match, the game will have to start at 4:14 PM local time, the spokesperson added, as per ESPNCricinfo. If the game is not completed and is washed out due to rain, Men in Blue will move to the finals due to them topping the Super Eights group, as compared to England's second-place finish in Group two.

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