How to value a startup company

By now, everyone has weighed in on the Goldman Sachs crisis. Pundits have pilloried the firm for enabling a toxic and destructive culture. Supporters such as New York Mayor Michael Bloomberg have defended the darling of Wall Street, saying it remains a great institution. And the Goldman Sachs PR machine has simultaneously done everything possible to undermine whistle-blower Greg Smith's credibility while insisting his remarks don't reflect the values of the firm's 30,000 employees. Regardless of where the truth lies, companies must learn from the image and reputation damage that's been wreaked on Goldman. I've worked for countless organizations in, well, every conceivable industry and can assure you of two things: There are many Goldman-like cultures in fields that have nothing whatsoever to do with the world of high-powered finance. There are just as many cultures that espouse the best-in-breed ethos of such rock-star companies as Southwest Airlines, Starbucks, and … [Read more...] about Don’t Be Like Goldman Sachs: 5 Ways

The listing transaction includes Lotus Technology. - A + A (May 26): ECARX Holdings Inc, the automotive tech firm backed by billionaire Li Shufu, agreed to go public through a merger with blank-check company COVA Acquisition Corp. in the largest Chinese listing in the US since Didi Global Inc. The deal values the combined company at about US$3.8 billion, according to a statement Thursday, which confirmed an earlier Bloomberg News report. The transaction includes a US$45 million investment from Li’s automobile giant Zhejiang Geely Holding Group Co, Luminar Technologies Inc and Lotus Technology. Geely is an existing investor in ECARX. ECARX would be the largest Chinese company to list in the US following Didi’s spectacular failure. The ride-hailing giant is set to delist from the New York Stock Exchange after proceeding with its IPO last June over Chinese regulators’ objections and becoming a victim of the country’s cybersecurity crackdown. Didi has lost about … [Read more...] about Tycoon SPAC deal to create China’s biggest US listing since Didi

Sixty percent of Americans are worried that automation is putting jobs at risk, and 39% think their own job will be obsolete within five years, according to PwC’s Hopes and Fears survey . New positions that may not exist today, however, will replace some of the jobs that will be lost to AI. But, if your job is at risk, it’s a good idea to have plan B in place now so you can seamlessly transition and stay relevant. advertisement advertisement “The only thing we can predict is the unpredictable,” says Scott Steinberg, author of Think Like a Futurist 2022: The Next Normal . “Things tend to move fast and change from week to week at this point, and there will be many next ‘normals.’ Even when many events are outside your ability to control, you can always steer things toward a more positive outcome.” The first thing is to gain situational awareness. It should raise major red flags if your job is easily reduced to a description on paper that anyone … [Read more...] about How to future-proof your job by thinking like a futurist