Consider the most prestigious role on the most prestigious deals at the most prestigious companies in the most prestigious profession. In other words: The job of lead counsel on big-ticket M&A transactions. That position is still overwhelmingly held by men, 30 years after women became roughly half of all law students.
Why it matters: The asymmetry is hardly confined to the legal profession. CEOs, boards of directors, M&A investment bankers — all are dominated by men. But a new study has now released quantitative data on just how male the senior lawyers involved are.
BitMEX, a cryptocurrency derivatives exchange, has agreed to pay $100 million to settle charges by the Commodity Futures Trading Commission and Financial Crimes Enforcement Network that it unlawfully operated in the United States.
Why it matters: U.S. regulators are cracking down on the cryptocurrency industry as new innovations like derivatives exchanges, "decentralized finance" protocols and others boom.
Fanatics, an online retailer of licensed sports merchandise, has raised $325 million from SoftBank, Silver Lake, Eldridge, TWG Sports Media & Entertainment, Insight Partners, MLB, Jay-Z, and Roc Nation at an $18 billion valuation, per mediareports and sources confirming to Axios.
Why it matters: The financing comes as Fanatics expands its focus to include areas like digital products, with executive chairman Michael Rubin taking over as CEO of the expanded company. Candy Digital, the NFT company it helped set up, will be part of Fanatics.
China's regulatory shakeup is causing even one of its biggest believers —SoftBank — to take pause.
Driving the news: "We don't have any doubts about the potential of China but again, new rules are being implemented, so until it gets settled, we want to wait and see," SoftBank CEO Masayoshi Son told analysts during the company's quarterly earnings presentation.
Salesforce is the latest tech giant to venture into video streaming with the launch of a new service aimed at business professionals called Salesforce+, the company's chief marketing officer Sarah Franklin tells Axios.
Why it matters: The service is part of a greater effort to transition Salesforce's marketing approach from paid customer acquisition to owned and operated media.
Media upstarts are attracting far less cash compared to the venture-backed media boom of 2014 and 2015, according to new data from Pitchbook.
Why it matters: Investors are no longer willing to shell out hundreds of millions of dollars on new digital media sites, given how long it's taken for some of those investments to materialize and drive major returns.
Federal Reserve officials say Friday’s blockbuster jobs report supports the case for tapering supportive monetary policy relatively soon.
Why it matters: With the economy progressing, everyone wants to know when the Fed will taper its quantitative easing program and eventually start hiking interest rates.
As the pandemic drags on — keeping millions of Americans teleworking, and countless students studying remotely — the tense dynamics once confined to the office have infiltrated people's houses and apartments.
Why it matters: Families are haggling over who gets prime workspace. Should it be the biggest breadwinner? In many homes, women are the ones who get stuck with less-than-ideal offices.
