Billionaire Seth Klarman blames low rates and 'capitalist excess' for his fund's languishing returns — and says we've seen only the 'tip of the overvaluation iceberg'

The Boston-based fund, which manages about $30 billion, posted high-single-digit gains for 2019 in a year when the stock market surged by 30%.

January 24, 2020   |   View Online »

Billionaire Seth Klarman blames low rates and 'capitalist excess' for his fund's languishing returns — and says we've seen only the 'tip of the overvaluation iceberg' Bradley Saacks | The Boston-based fund, which manages about $30 billion, posted high-single-digit gains for 2019 in a year when the stock market surged by 30%. Read More »

SoFi dumps Visa and makes Mastercard its exclusive partner as it gears up to add a credit card alongside its debit card Shannen Balogh | The SoftBank-backed startup has a debit card on the market, which runs on Visa rails, according to its website. Mastercard will now be the exclusive card issuer for SoFi. Read More »

The alt-data industry is having growing pains after its sudden glow up — and insiders are looking at new pricing models and unlikely customers Bradley Saacks,Dan DeFrancesco | Alt data has been forced to grow up quickly: investors poured in, data powerhouses have carved out their space, and promising companies have flopped. Read More »

Elon Musk is working on SpaceX's Mars rocket ship in Texas while other top executives flock to Davos. A local thinks the CEO is using an historic home as a crash pad — take a look inside. Dave Mosher | The SpaceX founder is pushing workers to develop a revolutionary rocket launch system at a breakneck pace in a hamlet called Boca Chica, Texas. Read More »

21 million new jobs are projected to require AI specialty. These are the skills you'll need for the roles — and the positions that are in demand right now. Joe Williams | Companies like Morgan Stanley and Microsoft are taking novel approaches to train their current workforce on AI amid a skills shortage. Read More »

Worked 'like a rented mule': A truck driver claims an Amazon contractor forced him to drive for up to 30 hours straight in a new lawsuit Rachel Premack | This Amazon challenge is the latest in a slew of trucking lawsuits in recent years demanding that companies pay drivers for their breaks. Read More »

Meet the power-player execs running NBCU's Peacock, Comcast's big bet to challenge Netflix and rule ad-supported streaming Ashley Rodriguez | The execs leading NBCU's Peacock include boss Matt Strauss, content head Bonnie Hammer, ad exec Linda Yaccarino, and NBCU CEO Jeff Shell. Read More »

Jeff Bezos' 'shadow' adviser position is empty for the first time in years as Amazon and his personal life face unprecedented scrutiny — here are the 7 most successful executives who once filled that role Eugene Kim | The decision to leave the shadow position vacant suggests Jeff Bezos may be spending more time on non-Amazon issues. Read More »

Here's the pitch deck that email startup Front used to get get top tech execs like Zoom CEO Eric Yuan to invest in its $59 million Series C round Paayal Zaveri | Front, with a goal of reinventing email, raised $59 million in a round that included capital from software executives at Zoom, Atlasssian and Okta. Read More »

4 top YouTube creators told us their yearly incomes from the platform Amanda Perelli | We spoke with four YouTube creators — Shelby Church, Kevin David, Sienna Santer, and Andrei Jikh — who broke down how much money YouTube paid them. Read More »

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