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Top Business Stories: The Future of Finance, Pelotons IPO


Investment firms have turned to so-called alternative data companies in recent years, transforming opaque data sets into tradeable information to gain a competitive advantage. A home industry of technology companies has sprung up to process information on everything from the weather to web search, and to hedge funds and others.

Some say there may be a bubble in the industry.

Take the Thasos group. Thasos, a player in the $ 7 billion booming alternative data industry, was worth $ 42 million, relationships with MIT, and a blue-chip CEO, whose predecessor Sense Networks of Newsweek once called "The Next Google ". Thasos was also part of Bloomberg's new alternative data marketplace, which meant it was approved by the data magazine.

However, Thasos struggled to earn money selling its key financial services to customers, and was forced to lay off two thirds of its employees in August, sources told Business Insider. His CEO and co-founder Greg Skibiski also resigned.

The problems that Thasos faced are not clear, report Bradley Saacks and Dan DeFrancesco. While there is no shortage of hedge funds interested in buying data, the market is both overcrowded and unionized.

"We may have an alternative data bubble," said Mike Chen, Portfolio Manager at PanAgora Asset Management, to Business Insider. "I believe that many of the more advanced users of alternative data ̵

1; advanced hedge funds and investors – are likely to experience what I would call alternative data fatigue." The investment advantage is being dashed on Wall Street. Our team had a number of other stories this week focused on using financial technology to gain an advantage, from using virtual labs to identifying technology talent to tracking shrimp. Here are some highlights:

Shannen and Joe were recently added to our BI Prime team. You should also look at coverage of recently added topics such as Melia Russell, which covers venture capital and technology, and reports a technical director of Google who is black and states that he is less attracted to work if he is like a janitor.

And Patrick Coffee who joined us to cover the advertising business, this week informed McDonald's new advertising agency in an internal memo about why the world's largest fast-food Chain ran counter to industry trends to reshape the marketing strategy.

I look forward to presenting more great stories from newcomers to our team in the coming weeks! Enjoy your Sunday!

– Matt

Finance and Investments

Bank of America's aggressive push into cities like Portland, Nashville and Denver helps regain ground from dealmaking rivals. Now it has the rest of the US in mind.

In order to raise investment banking fees and regain market share, Bank of America is pursuing smaller deals – and that has taken them to distant American locations that they had previously ignored.

Private equity firms are already interviewing 22-year-old bankers, who will begin in two years' time. Your earliest startup shows how crazy the battle for talent has become.

Private equity firms are already interviewing investment banking analysts of the first year to fill 2021 employee positions, sources told Business Insider on these roles.

JPMorgan wins the most hedge fund business as Wall Street banks find Deutsche Bank's first-class brokerage assets of $ 200 billion. emerge as an early winner.

Tech, Media, Telecoms

At the New Zealand peloton roadshow, investors made selfies with star teachers and took turns riding the $ 2,000 bike on Thursday in front of the ballroom at the Lotte New York Palace hotel in midtown Manhattan, where lively fitness company Peloton should place its IPO. But many were not there to inform Peloton CEO John Foley or CFO Jill Woodworth about finances.

Here are 12 of the key executives who run Google Cloud when it comes to Amazon Web Services and Microsoft Azure.

With Amazon and Microsoft devouring much of the stock on the cloud market, Google Cloud is catching up.

Within the strategy of Barstool Sports, with its new sports betting app, Barstool Bets, become the gateway to advertising for players

Barstool Sports jockeyt is about to become home to a new generation of players Sports betting in more and more countries become legal places in the US.

Health Care, Retail, Transportation

The 20 CMOs to Watch in 2019

The $ 221 billion advertising industry is facing a rush of challenges, but a new crop of marketing professionals is rising at.

SmileDirectClub's IPO was so catastrophic that CEO Jamie Dimon of JPMorgan called and asked what went wrong.

JPMorgan's investment bankers have had a tough time in recent weeks.

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