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🍋 Goldman Staffer Sues for Mental Health
A recruiting manager at Goldman Sachs' London office sued the bank for $1.3 million, plus Jamie Dimon still hates crypto.
Together With
"In the business world, it's dog-eat-dog. But it's not dog-eat-nothing." — Michael Bloomberg
Good Morning! Green shoots are back on Wall Street, but banks are being careful about saying it. Don’t think the Bitcoin ETFs changed Jamie Dimon’s mind - he says he still doesn’t see any value in Bitcoin. Investors are learning to love small cap stocks again, and MBAs are struggling to find jobs. Plus how to use 5 hours of intense focus to maximize your productivity, and 2 psychological tips to become more likable through conversation.
We are looking for Wall Street reps. If you work at a bank or a fund (PE, VC, HF etc.), apply to be a Wall Street rep here. This will be a great opportunity for you to keep a pulse on the Street and meet like-minded professionals.
SQUEEZ OF THE DAY
Goldman Staffer Sues for Mental Health Millions
Goldman is still getting rekt for its working conditions. A recruiting manager at the firm’s London office sued the bank for $1.3 million. He says the bank’s working environment was just too chaotic and harmed both his mental and physical health.
The manager, Ian Dodd, says the excessive working hours caused him to develop depression and heart issues, become suicidal and default on his mortgage payments.
He also criticized the company's work culture, describing it as dysfunctional with prevalent bullying, “worn down and emotional” employees, many of whom cried to him.
You may remember the infamous Goldman survey in 2021 - when bankers complained of “inhumane” conditions. In response, Goldman gave raises and promised a better future (work-life balance). The rest of the Street followed and some even handed out Pelotons and (rotten) fruit baskets to jaded analysts.
Takeaway: Mental health is a critical issue, and banks need to do more to improve conditions for their employees. Employees also need to understand job demands before committing. While holding employers accountable is fair, not all personal issues stem solely from the workplace. The lawsuit was filed in London, and if there’s anything we’ve learned about our European colleagues - it’s that they love their vacation and time off work.
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HEADLINES
Top Reads
Apple got banned from selling watches in U.S. with blood oxygen sensor (CNBC)
Green shoots are back on Wall Street (YF)
Jamie Dimon still sees no value in Bitcoin after ETFs debut (MW)
JPMorgan sees record $30 billion in private debt changing hands (YF)
Business leaders are debating AI’s impact at Davos (Axios)
Why investors love small cap stocks again (YF)
Jamie Dimon warns on the forces impacting the U.S. economy in 2024 (CNBC)
The MBAs who can’t find jobs (WSJ)
After Big Tech layoffs, Silicon Valley loses its monopoly on workers (CNBC)
Americans’ finances defied the skeptics (WSJ)
Get ready for a strong earnings season (Axios)
CAPITAL PULSE
Markets Rundown
Stocks closed lower as bond yields rose.
Movers & Shakers
(+) Instacart ($CART) +8% after an upgrade by Wolfe Research.
(–) Solaredge ($SEDG) -6% after a downgrade by Barclays.
(–) Fisker ($FSR) -8% after a downgrade by TD Cowen.
Private Dealmaking
Ineratec, an e-fuels producer, raised $129 million
Build A Rocket Boy, a gaming studio, raised $110 million
IAC sold Mosaic Group, a mobile phone app portfolio, for more than $100 million
Forta, a therapy platform, raised $55 million
120Water, a water management software, raised $43 million
Cactos, a battery energy storage developer, raised $29 million
For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.
BOOK OF THE DAY
Think Faster, Talk Smarter
Many of us dread having to convey our ideas to others, often feeling ill-equipped, anxious, and awkward. Public speaking experts help by focusing on planned communication experiences such as slide presentations, pitches, or formal talks.
Yet, most of our professional and personal communication occurs in spontaneous situations that creep up on us and all too often leave us flustered and stumbling for words. How can we rise to the occasion and shine when we’re put on the spot?
In Think Faster, Talk Smarter, Stanford lecturer, podcast host, and communication expert Matt Abrahams provides tangible, actionable skills to help even the most anxious of speakers succeed when speaking spontaneously.
Abrahams provides science-based strategies for managing anxiety, responding to the mood of the room, and making content concise, relevant, compelling, and memorable.
Whether it’s a prospective client asking you an unexpected question during a meeting or all eyes turning to you at a dinner party, you’ll know how to navigate the situation like a pro and bring out your very best. Think Faster, Talk Smarter is an accessible guide to communication that will help you master new techniques in no time.
“If you’ve ever struggled to summon the right words at the right time, this book is an essential read.”
DAILY VISUAL
Which Jobs Have a Future?
Jobs forecast to grow the most worldwide between 2023 and 2027
Source: Statista
WHAT ELSE TO READ
No sensationalism, No outrage. Just News.
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We deliver quick, nonpartisan, and trustworthy news that’s enjoyable – keeping you informed and entertained in just four minutes every morning.
DAILY ACUMEN
Cure For Boredom
In a world filled with endless opportunities for exploration, the antidote to boredom lies in the magic of curiosity.
Instead of succumbing to the dullness of routine, embrace the innate human desire to learn and discover.
Curiosity is the spark that ignites creativity, leading to new passions and a richer understanding of the world.
It transforms mundane moments into exciting adventures, making the pursuit of knowledge the cure for the ailment of boredom.
So, when monotony sets in, let curiosity be your guide, unraveling the mysteries that await your inquisitive mind.
ENLIGHTENMENT
Short Squeez Picks
How just 5 hours of intense focus can maximize your productivity
6 simple resolutions to advance your career
2 psychological tips to be more likable through conversation
3 steps to becoming a high-performing leader
9 questions that will tell you how emotionally secure you are
MEME-A-PALOOZA
Memes of the Day
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