As the coronavirus crisis forces people to work remotely, tools that help them stay connected and productive are booming in popularity. We asked a select group of VCs to name enterprise startups that could take off this year as a result of the changing work environment. Each investor named two "future of work" startups: one in their portfolio, and one company they admire but have no financial interest in. Visit Business Insider's homepage for more stories. The coronavirus outbreak has changed not only where people work from, but how they work and what tools they use.
Welcome to Wall Street Insider, where we take you behind the scenes of the finance team's biggest scoops and deep dives from the past week. If you aren't yet a subscriber to Wall Street Insider, you can sign up here. Wall Street had to quickly adapt to a new work-from-home reality, and firms are already thinking about how the coronavirus will transform the way they work in the long run -- Tradeweb's CEO called the shift to remote work a "fundamental game changer" when it comes to business and personnel impact.
By Jeff SommerWhen thousands of people are sick and dying, the stock market isn't the world's most pressing problem. It may even be unseemly to worry about it at all.Yet the market's steep fall matters, not just for hedge fund investors but for millions of hardworking people who have poured their savings into it, hoping to generate enough for a decent retirement, an education, a house -- really, for anything important in life that costs money.What we've just experienced in the market is a big setback.
The Kennedy family has a history of tragic deaths. : The daughter and grandson of former Maryland Lt. Gov. Kathleen Kennedy Townsend are missing and presumed dead after a canoeing accident, the family confirmed. Townsend confirmed late Friday the search had transitioned to a recovery operation. Townsend is the eldest daughter of Robert F. Kennedy, who was assassinated in 1968 while running for president, and the niece of President John F. Kennedy, who was assassinated five years earlier in Dallas.
Singapore-based private equity firm Ikhlas Capital will close its inaugural fund in the middle of this year, reassessing its planned $500 million target due to the coronavirus outbreak, founding partner and chairman Nazir Razak said.
Raoul Pal, the former hedge fund manager who founded Real Vision, thinks the fallout from the coronavirus will have immense, far-reaching impacts on the global economy. The duration and severity of the pandemic is something that Pal thinks hasn't yet been accounted for properly. Pal thinks a further 20% decline in stocks is on the horizon. For context, in October, Pal called the Federal Reserve cutting rates to zero and the US having negative rates. In late February, Pal said to buy bonds and that the impacts from the coronavirus would be "meaningful and real."
As the stock market experienced unprecedented growth over the past eleven years, however, many people were naturally less interested in the lifetime income options from pensions or annuities. Who wouldn't rather have all the assets today so they can invest them with the idea of earning high returns?
The California Public Employees Retirement System (CalPERS) is moving forward on its plan to further segment its massive investment portfolio by recruiting a deputy CIO for its growth assets portfolio. This portfolio pertains to assets such as listed equities, private equity, etc. Here is a description of the position, "The CalPERS Investment Office is seeking [...]
Singapore-based private equity firm Ikhlas Capital will close its inaugural fund in the middle of this year, reassessing its planned $1 billion target due to the coronavirus outbreak, founding partner and chairman Nazir Razak said.