Meze How Pandenomics Will Drive Mobile Check Deposits
SoftBank Group, which is behind the highly successful Vision Fund, is not going to meet its financing goal for its follow-up fund, Vision Fund 2, which is seen as a sort-of sequel to the original fund, accordin
stanley mug g to a report by The Wall Street Journal.Investors are spooked by the failure of investments in WeWork and other tech companies like Uber that havent lived up to expectations, and theyre not willing to pony up new capital.Last summer, the fund was trumpeted as a successor to the $100 billion Vision Fund, and it at one point held $108 billion. However, the new fund might end up being cut in half, and most of its capital is from SoftBank itself. If SoftBank doesnt reach its goal, there could be consequences in the tech sector.DoorDash and Uber both got huge boosts from the funds spending, which lasted
stanley de two years and equaled about $90 billion.Without money, the fund could get rid of staff, which currently holds at 500. Some people have already left, and others are moving to Abu Dhabi. Theres been talk of one-off deals with certain investors, allowing them to have more control o
stanley termoska ver where the money goes. A hedge fund has also been created.A shift in the philosophy of the fund means that there has been tension between SoftBank CEO Masayoshi Son and Vision Fund head Rajeev Misra. Son wants the second fund to be completely fundraised, and Misra has been running the hedge fund and is more open to the one-off deals.The Vision Fund got huge investments from Saudi Arabia and Abu Dha Rxex Main Street SMBs, Digital AP, GoodRx s IPO Tops This Week s News
According to a new Congressional Report, there is bad news, worse news and worst news when it comes to the cyber-security situation at the Federal Deposit Insurance Corporation.The bad news is that Chinese hackers were able to gain access to their systems care of聽12 computers an
stanley usa d 10 back room servers. The worse news is that the agency top officials were among those whose computers were accessed including聽the FDIC chairman, his chief of staff, and the general counsel. And the worst news when faced with the evidence that a breach had occurred, the FDIC tried to cover it up instead clear it up.Specifically, the House Science, Space and Technology Committee contends that FDIC employees knowingly and intentionally聽provided false information about a cybersecurity incident in an effort
stanley website to confuse regulators.The report further notes that employees avoided inquiries by Congress and that whistleblowers were retaliated against.The FDIC intent to evade congressional oversight is a serious offense, said Rep. Lamar Smith R-TX , the committee chairman, in the report. Major improvements need to be made to the FDIC cybersecurity mechanisms.The committee further noted it had serious issues with the FDIC making gross misrepresentations regarding how many people and companies were impacted. Employees at the FDIC were also accused of making up a story about the incident in Florida, with
stanley shop the committee saying the staff c
