A Wall Street veteran is teaming up with Victor Cruz and Draymond Greek to launch a tech accelerator for startups in an unlikely city — Flint

100KVentures

Robert Wolf, a former top Wall Street executive and fundraiser for former President Barack Obama, is bringing together a group of industry leaders, high-profile athletes, journalists, and entrepreneurs to launch an accelerator for startups.
The new accelerator group, named 100K Ventures, will focus on assisting startups in Flint, Michigan, a town that became known for its crisis with lead-contaminated water.
Several influential figures, including three-time NBA champion Draymond Green and former Philadelphia Mayor Michael Nutter, are backing 100K Ventures.

A veteran Wall Street executive is bringing together a group of industry leaders, top athletes, notable journalists, and entrepreneurs to launch an accelerator that invests in startups in a city not widely known for tech entrepreneurs: Flint, Michigan.

Robert Wolf, the former chairman and CEO of UBS Americas and a top fundraiser for President Barack Obama’s campaigns in 2008 and 2012, is partnering with Phil Hagerman, the founder of Skypoint Ventures in Flint, to create an accelerator named 100K Ventures, they announced on Wednesday.

It’s an effort to help revitalize Flint, a former auto town that has been beset by a slew of financial problems and a crisis with lead-contaminated water in the past few years.

The accelerator will invest in early-stage companies vetted by 100K Ideas, a nonprofit dedicated to assisting local entrepreneurs.

Notably, 100K Ventures is backed by figures including three-time NBA champion Draymond Green, former NFL star Victor Cruz, and former Philadelphia Mayor Michael Nutter.

“We’ve all seen and read the sad and tragic stories of what has happened in Flint,” said Soledad O’Brien, a former CNN anchor who’s a founding member of 100K Ventures. “The truth about Flint is that it’s a city with a deep history of innovation, including the very beginnings of the auto boom in this country. My partners and I believe that with some time and effort that …read more

Source:: Business Insider

      

The equity chief at $6.3 trillion BlackRock weighs in on the trade war, a possible recession, and offers her best investing advice for a tricky 2019 landscape

Kate Moore, the chief equity strategist at the BlackRock Investment Institute, spoke with Business Insider to give her outlook for 2019.
Moore discussed how the Federal Reserve will drive volatility across asset classes next year. She also explained BlackRock’s overweight on emerging markets, weighed in on the trade war, and broke down her firm’s other major themes for 2019.

Kate Moore, the chief equity strategist at the BlackRock Investment Institute, spoke with Business Insider senior investing editor Joe Ciolli about Federal Reserve-driven volatility, emerging markets, the ongoing trade war, and investing themes for 2019.

Following is a transcript of the video.

Joe Ciolli: I’m here with Kate Moore, the chief equity strategist at the BlackRock Investment Institute.

Kate, you guys just published your 2019 outlook, and I wanted to see what you’re thinking about the Federal Reserve. It seems like something that’s been popping up a lot in your outlook. There’s a lot of uncertainty around it. Can you explain sort of how that’s gonna lead to volatility across all asset classes?

Kate Moore: One of our big themes for 2019 is more about policy uncertainty and getting closer to neutral with the Fed, but frankly not being able to perfectly predict monetary policy in every other country. A lot’s gonna be dependent on what happens to US growth, the labor market, inflation, and whether or not we get a pause from the Fed in the first part of the year, or in the second part of the year.

Interest rates have been weighing heavy on investor minds, even though we don’t think they’re at a level that holds back activity or should really stop companies or individuals from investing. It’s been a common excuse throughout 2018. For why people are worried about being at the end of …read more

Source:: Business Insider

      

The $2 billion food delivery firm coveted by Uber just opened its first brick-and-mortar restaurant

A deliveroo worker cycles along a pedestrianised road in Liverpool, Britain, October 18, 2017. Picture taken October 18, 2017.     REUTERS/Phil Noble

British food delivery startup Deliveroo has opened a brick-and-mortar restaurant in Hong Kong.
The “Deliveroo Food Market” will cater both to online orders and in-store customers.
Reports emerged in September that Uber was in acquisition talks with Deliveroo.

Deliveroo, the British food delivery startup last valued at $2 billion, has opened a brick-and-mortar restaurant in Hong Kong.

Named the “Deliveroo Food Market,” the location will fulfil both online orders and serve customers in-store where they can choose from 15 different “dining concepts,” CNBC reports.

The restaurant is an extension of Deliveroo’s Editions, a programme which it launched in 2017 setting up pop-up kitchens to help restaurants deal with delivery demand.

Read more: Uber’s plan to buy UK delivery giant Deliveroo has stalled, with the 2 sides said to be ‘miles apart’ on valuation

“We find there is an opportunity to bring our online to offline model to our customers,” General Manager of Deliveroo in Hong Kong, Brian Lo, told CNBC.

“Hong Kong is one of the most expensive rental prices, so the pressure on restaurant operators is very high and this model works very well for them,” he added.

Deliveroo is reportedly being courted for an acquisition by ride-hailing giant Uber, whose Uber Eats service is a direct competitor of Deliveroo. However, recent reports suggest that Uber and Deliveroo had reached an impasse over Deliveroo’s valuation.

SEE ALSO: Uber is reportedly holding talks to buy electric scooter firms Bird and Lime

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Source:: Business Insider

      

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