This week has been a doozy! Starting work on a Tuesday? That had us all sorts of confused. Not to mention we did a double take when we saw FLOTUS’ email on blast. Investment banks taking companies public could be going out of style, meanwhile the Father of Android is making a comeback.
Direct Listings Put Wall Street Banks on Watch
Tech IPOs get us giddy, period. But could a new trend moving away from the bells and whistles of traditional IPOs be emerging on Wall Street? The New York Timesreports that music-streaming giant Spotify is in talks about taking the direct listing route as soon as later this year. This move bypasses the pre-prospectus hype and moves shares directly onto the open market for investors to purchase. We’ll be keeping our eye on direct listings as other power players such as Uber may be considering this same path.
The most recent Gallup Poll results revealed “Americans’ trust and confidence in the mass media had reached all-time lows with only 32 percent of participants saying ‘they have a great or fair amount of trust in the media.’” An 8 percent drop since 2015, trust is clearly trending in the wrong direction. The core problem, you ask? Social media. It’s not the sheer use of social media by journalists, rather the raw look behind the curtain that news consumers now see.
If you haven’t been warned about updating your social media privacy settings, let Melania Trump be a lesson for us all. The First Lady’s email address was released publicly last week after Belgian ethical hacker Inti de Ceukelaire was able to obtain it in a matter of minutes through “ill-configured privacy settings and a self-written script” on Facebook. The hacker wrote Mrs. Trump a long letter inviting her to his beautiful city of Aalst and then kindly explained how to avoid an incident like this in the future … changing the Facebook ‘who can look me up’ privacy setting to ‘only me.’
Multiemployer plan programs are struggling to keep up financially. Zane Dalal, Executive Vice President of BPA, talks to PLANSPONSOR about how a simple shift in the current model could help revive the industry.
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The Father of Android is Making a Comeback
It wasn’t enough for Andy Rubin to invent some of the world’s first internet-connected devices. First he brought us Sidekick (#memories), then came Android and now, three years after leaving Google he brings us Phone. In order to top his seemingly un-toppable career, Rubin has set out to make his new company, Essential, “the first great gadget maker since Apple.” He plans to do it with a series of products built to “bring order to the endless standards, protocols and systems wrought by the Internet of Things.”