Jan 10, 2024

I’m hearing a lot about the upcoming reset of the Tax Law, with a focus on taking advantage of lower tax rates now. Additionally, there’s been an announcement about the Social Security Tax Wage Base jumping for 2024, leading to higher taxes for some wealthy taxpayers. On the investment front, there’s been talk about the dip in Apple stock, with some analysts cautious about the tech giant due to concerns over demand in China. Furthermore, there are expert tips for new investors on how to invest smartly.

Moving on to other news, there’s been a development involving Carta, a company that provides cap table management software for most VC-backed startups in the U.S. The company has decided to get out of the secondary stock trading business after a salesman was discovered to have used confidential customer data while trying to arrange a private stock sale. Additionally, there’s been a significant funding round for Second Dinner, the game studio behind Marvel Snap, which raised $100 million in Series B funding from Griffin Gaming Partners.

In the venture capital world, there have been several funding rounds, investments, and acquisitions, including a $41.5 million Series B funding for Brazilian expense management and corporate card startup, Conta Simples, and an $55 million Series B funding for Anecdotes, a Palo Alto-based enterprise GRC startup. These developments indicate ongoing activity and investment in various sectors.

Today’s news discusses various financial topics, including negotiating tactics in the financial industry. The article highlights the use of an “absent principal” as a bargaining tool in negotiations, and how this tactic is used by broker-dealers to create confusion about their role. The article also discusses legal and ethical implications of such tactics, citing an example of bond traders who were accused of misrepresenting offers to extract additional profits.

Another topic covered is the case of OpenAI, a startup with a board of mostly independent directors, which has sparked a debate about control in burgeoning companies. The article also mentions the company Carta, which shut down its brokerage business after allegations that its staff used confidential information to solicit investors in start-ups to sell their stakes in the secondary market without consent from the start-ups themselves.

Additionally, the article touches on the phenomenon of “pillow talk” insider trading, which saw an uptick during the Covid-19 pandemic due to the rise in working from home. The legal and ethical challenges in prosecuting such cases are also discussed.

Overall, the news provides insights into various financial industry practices, ethical dilemmas, and the evolving dynamics of control in startups.

Stay Well!