Wall Street's tech transformation, Amazon vs Roku, and a Silicon Valley healthcare startup in hot water

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Wall Street firms are looking to Silicon Valley for inspiration.

As we’ve previously reported, Goldman Sachs is exploring a service that’s like Netflix but for data. And JPMorgan chief executive Jamie Dimon has mentioned Amazon Prime as a model for its banking efforts.

But it doesn’t stop there. From trillion dollar investment giants BlackRock and Pimco focusing on data science to Citigroup looking to supercharge its technology via an innovation lab, just about every firm in finance is getting in on the act.

As we reported this week:

What did we miss? Let me know. You can reach me at [email protected] if you have any questions, ideas, or requests.


Quote of the week

“I’ve heard stories of other guys literally taking a couple hundred thousand dollars, walking into the dealership, buying a Porsche, and then taking the money, throwing it in a bag and going to Vegas.” -Evan Rothstein, who manages wealth for more than 20 professional athletes, on the biggest money mistakes pro athletes make.

In conversation

Finance and Investing

TPG just raised $US1.6 billion for a tech-focused fund after bets on Uber, Spotify, and other private companies paid off big – and shows some of the problems with current funding models

TPG has made big money off of technology bets on companies like Uber, Airbnb, Spotify, and Box. Now, it’s raised a new fund to profit from private companies in a different way from its traditional private-equity roots.

An investment chief overseeing $US100 billion at Pimco says beware of the ‘riskiest corporate market we’ve ever had’ – and offers these strategies for surviving the next recession

Scott Mather doesn’t want to put a time frame on the next recession.

Billionaire real-estate investor Sam Zell says now is ‘the time to accumulate capital’ for future real-estate buys as a glut approaches

The billionaire real-estate investor Sam Zell is building up his pool of cash, planning to put it to use in a couple of years.

Tech, Media, Telecoms

Carta, the startup building a stock exchange for startups, says its own valuation increased nearly $US1 billion in 5 months

Carta, a service for buying and selling shares in private companies, has built its business around the surging valuations of startups.

Employees at NPM, a startup that provides a crucial service for 11 million software developers, have signed an open letter demanding better working conditions

More than a dozen employees at NPM, a startup that provides crucial services for some 11 million software developers, have signed an open letter calling on management to improve working conditions at the company, Business Insider has learned.

Amazon wants to take on OTT heavyweights like Roku for advertising dollars. Here’s the pitch deck it’s using to sell marketers video ads.

Amazon is on a crusade to build a video advertising business that rivals Roku, Hulu, and others.

Healthcare, Retail, Transportation

Silicon Valley startup uBiome raised $US105 million on the promise of exploring a ‘forgotten organ.’ After an FBI raid, ex-employees say it cut corners in its quest for growth.

The Silicon Valley healthcare startup uBiome is in hot water over its reportedly questionable billing practices, but insiders say problems at the company extend beyond issues tied to insurance claims.

Why insurers are beginning to embrace billion-dollar healthcare startups like SmileDirectClub and Warby Parker

In the beginning, the pitch was simple. Warby Parker would offer glasses at a lower price than you might find in your doctor’s office. The frames were trendy and rarely set you back more than $US130.

Church’s Chicken CEO reveals his turnaround game plan to win back customers and introduce the world to a new version of the iconic chain

Church’s Chicken is ready for a comeback.

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