NYC’s hot fintech scene – Wall Street is worried – Silicon Valley’s power brokers

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On the agenda today:

• New York City’s fintech scene is hotter than ever.
• Wall Street’s hopes for global growth are the bleakest they’ve been since April 2020.
• We outlined the real power brokers of Silicon Valley: 50 people who oversee massive university endowments.

Let’s get started.

NYC’s fintech scene is hotter than ever

From online health-insurance services to digital bank accounts designed for the LGBTQ+ community, fintech startups are on the rise in New York City. These are 24 promising startups based in NYC.

Wall Street investors are worrying like it’s April 2020

A Bank of America survey found that just 27% of fund managers expect growth to improve over the next 12 months – the lowest percentage since the coronavirus rocked the US economy in 2020. Here’s what else managers think about global recovery.

Meet the real power brokers of Silicon Valley

The venture-capital industry pours hundreds of billions of dollars into startups every year, and much of that money flows from Harvard, Yale, and other top university endowments. We’ve identified 50 people at mega-endowments who are making key investment decisions.

Tiger Global is blowing up the rules of startup investing

Tiger Global has quickly become one of Europe’s biggest startup investors, participating in $6 billion worth of deals – and its speed, cash, and hands-off approach is disrupting the way Europe’s venture capitalists do business. See how the hedge fund is changing the game.

A personal finance fintech raised $100 million with this pitch deck

Albert, a financial app that offers automated savings, budgeting, and investing tools, raised a $100 million Series C round from General Atlantic and CapitalG. Its CEO shared the deck the company used to woo investors – check it out here.

The company is among a wave of hot new fintechs that have successfully raised millions with pitch decks. See 11 of these innovative fintech pitch decks here.

Only the top MBA programs provide the best ROI

Jay Bhatti, a VC firm cofounder, told us that only the top 15 MBA programs offer a return on investment. A graduate of Wharton himself, Bhatti said the value of the MBA has declined – unless you attend particular schools, including Harvard and Stanford. He explains his reasoning.

On our radar:

• Working from home has made us all paranoid. Here’s how to cope.
• Execs are getting rich from the adtech IPO boom. See who’s made the most money.
• eFinancialCareers reported that Goldman Sachs analysts are purportedly making $180,000, including bonuses, which are due at the end of the month.
• Not even Masayoshi Son, the man who spent $18 billion on WeWork, wants to invest in China right now. Here’s what that means.

Read the original article on Business Insider