If geographies were companies, Silicon Valley and New York would be the incumbents -- successful today and possibly impregnable -- and, like all incumbents, their outsized advantages obscure significant vulnerabilities.
The U.S. high technology industry looks like it may be too concentrated. One sign of this is the lack of geographic diversity in the venture capital industry, which is highly concentrated in a few technology hubs, mostly on the coasts.
On the second episode of Converge, Zola co-founder and CEO Shan-Lyn Ma comes on the show to tell us why she's building her company in New York. Zola runs a popular online wedding registry where couples have saved more than $1 billion worth of merchandise. Days after I spoke to her, Ma announced a new $100 million round of funding that puts the startup among New York's tech elite. But why did she start the company in New York? Ma attended school at Stanford and later worked at Yahoo.
Carleton College is pleased to name Kelsey Deshler as its new chief investment officer (CIO). Deshler was most recently global head of manager research at BlackRock in New York City. She will relocate to Minnesota and join Carleton in late March.
<p>New York City is asking: If biotech can make it anywhere, can't it make it here? The city government is asking for proposals on how to use $100 million in funds and city land to create a "life sciences hub" with the goal of making the city competitive with Boston and San Francisco as a place to start biotechnology companies.</p>
New York City sued five major oil companies, claiming they have contributed to global warming, on the same day officials announced they will sell off billions in fossil fuel investments from the city's pension funds.
Berkshire Hathaway Chairman and CEO Warren Buffett built a new position in consumer finance company Synchrony Financial and boosted his holdings of Bank of New York Mellon by more than 50% in the second quarter of 2017, according to a regulatory filing Monday from Berkshire Hathaway.
<p>A group is working on behalf of an unnamed billionaire Asian buyer to judge the potential interest of various independent shareholders in selling up. The club is listed on the New York stock exchange and the negotiators want to secure something in the region of an 8 percent stake.</p>
Fugitive tycoon Guo Wengui has put his lavish Manhattan apartment on the market but a Hong Kong-based hedge fund suing Guo for an unpaid loan wants a New York judge to block the sale, Forbes magazine reported. The full-floor apartment overlooking Central Park in The Sherry-Netherland â from where Guo has made a series of allegations against top Communist Party officials in recent months â was listed for US$78 million by Guo last month, two years after he paid US$67.5 million for it...