Good morning! Apparently, wealthy corporate climbers have a new obsession: a $7,000 chair. The Herman Miller Eames lounge chair and accompanying ottoman have become the pinnacle of status for a certain group of wealthy young American men.
Now let’s move on to the rest of this week’s news.
On today’s agenda:
But first : Making sense of a big week of first quarter results.
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Mark Zuckerberg, CEO of Meta BI
This week’s shipment
Big Tech Takeaways
Tesla, Meta, Microsoft and Alphabet released their results last week. Here are the takeaways in 60 seconds.
You’re here : First-quarter results were worse than expected as the company missed earnings and revenue estimates. But plans for a robo-taxi service and a more affordable model have investors excited about the future. It’s a safe bet that there are a lot of drivers who want a Tesla but can’t afford one.
Meta: Wall Street may have been lenient toward Tesla, but Meta hasn’t been given the same leeway. Despite better-than-expected first-quarter results, weak second-quarter guidance and outsized investments in AI have spooked investors. Mark Zuckerberg preached patience.
Microsoft: AI spending was also the name of the game at Microsoft. The tech giant has pledged to continue investing in technology as demand for its AI and cloud services continues to rise.
Alphabet: First quarter results exceeded expectations, recording a 15% year-over-year revenue increase. Alphabet also issued a dividend of $0.20 per share – its first ever – joining big tech peers like Microsoft, Apple and Meta, in the dividend club.
Kevin C. Cox/Getty Images; Jenny Chang-Rodriguez/BI
How to buy a sports team
Thanks to a rush of billionaires looking to buy teams, investment banks across Wall Street are scrambling to work on sports deals.
As sports deals surge, BI has identified key investment bankers – from the bulge circles to the boutiques – to help drive these deals. The list includes big banks like Goldman Sachs, as well as smaller companies like The Raine Group.
Meet the best bankers in sports.
Read also :
Dominic Bugatto for BI
The Uplifting Story of Tulsa’s Airbnb Queen
After the pandemic, property manager Dani Widell promised investors an easy windfall from what was supposed to be Tulsa’s Airbnb gold rush.
Instead, his Airbnb empire collapsed – and his subjects were left to pick up the pieces.
Where things went wrong.
Hokyoung Kim for BI
PE company. New Story has purchased other local school chains, creating what it calls one of the largest special education companies in the United States.
To some, the business model of private equity seems antithetical to that of special education. It’s a concept that worries former staffers, researchers and U.S. senators.
How private equity is reshaping special education.
drbimages/Getty, LinkedIn, Tyler Le/BI
Ghostwriting on LinkedIn is Booming
LinkedIn influencers are becoming more and more popular, with some reaching millions of people. The platform’s shift from uncool to in-demand has created a unique opportunity for savvy PR firms.
Some companies offer their executives – or “thought leaders” – ghostwriting and copywriting services. In some cases, PR professionals manage all aspects of an executive’s presence on LinkedIn, from copywriting to analysis.
Inside the World of LinkedIn Ghostwriting.
This week’s quote:
“I make it a point to visibly leave the office toward the end of the workday and enforce strict rules regarding maximum work hours so that employees can enjoy a healthy work-life balance.”
— Finnish CEO Samu Hällfors on running a business in the happiest country in the world.
More top reads this week:
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