- Wall Street firms are showering junior bankers with special bonuses and perks as burnout mounts
- Credit Suisse is paying analysts, associates, and VPs special $20,000 bonuses and raising salaries for all but the most senior bankers, as Wall Street tries to address WFH burnout for junior employees
- Apollo is offering some associates retention bonuses of up to $200,000 to stay on until 2022 after a year of intense hours and rapid-fire deals
- READY TO LAUNCH: These are the 29 bankers, advisors, and lawyers to know if you’re thinking about starting your own hedge fund
Female former employees say they faced sexism at Fine Brothers Entertainment
From Lindsay Dodgson:
Fine Brothers Entertainment, or FBE, is best known for its “react” videos, in which children, teens, adults, and FBE staff are filmed watching clips, listening to music, eating strange foods, and taking part in games.
FBE’s content has become a staple of YouTube, mirroring the trajectory of founders Benny and Rafi Fine themselves, who experienced meteoric success since their early videos. On YouTube, FBE has attracted 30 million subscribers, and in June 2020 it raked in 300 million views a month.
Yet interviews with 26 former employees and cast members paint a different picture. In addition to allegations that they experienced a toxic culture and racism when they worked there, some of these employees alleged that they experienced or witnessed casual sexism at the company that they said went to the top of management.
Read the full story here:
Also read:
- YouTube plans to ban videos showing staged animal rescues. The policy shift comes after the platform was found running ads from major brands on videos depicting animal cruelty.
- T-Mobile is at a crossroads with its streaming video bundle, TVision, and everything is on the table — including shutting it down
Meanwhile, here’s the latest on the David Dobrik Vlog Squad scandal:
- A behind-the-scenes look at how Insider reporter Kat Tenbarge investigated rape allegations against a member of David Dobrik’s Vlog Squad
- Dispo’s employees grapple with the future of their $200 million startup after scandal hits their cofounder, YouTube star David Dobrik
- YouTube is temporarily demonetizing David Dobrik’s channels following a rape allegation against his former Vlog Squad cohort Dom Durte
It’s actually a horrible time to buy a house
From Taylor Borden:
Just because all your friends jump off a bridge doesn’t mean you should, too.
This ominous parental warning seems apt for the times: Millions of Americans have taken the plunge into homeownership over the last year, but that may not be the right decision for everyone.
Home prices nationwide are hitting unprecedented peaks, propelled by low mortgage rates. The underlying problem is a grave imbalance between supply and demand. The infinitesimal number of homes for sale is outweighed by the enormous pandemic-fueled desire for a home of one’s own. Stay-at-home orders reminded people how much they crave bigger, better spaces to quarantine.
“Frankly, it may not make sense to buy at this moment,” said Scott Trench, the CEO of the real-estate-investing resource BiggerPockets. “Frantically trying to buy ‘something’ is a great way to make a bad purchase.”
Read the full story here:
Hedge funds are ramping up bets against Chamath Palihapitiya’s SPACs
From Vicky Ge Huang:
The billionaire investor Chamath Palihapitiya says he loves SPACs because they level the playing field between ordinary folks and big Wall Street investors. The latter group is now pouncing on his three special-purpose acquisition companies amid a slump in performance.
Read the full story here:
Also read:
BONUS: Tech giant org charts
- We identified the 194 most powerful people at Google under CEO Sundar Pichai. Explore our exclusive org chart.
- ORG CHART: The 95 most powerful people at Amazon Web Services
- Microsoft cloud org chart: Meet 30 execs who run the $1.8 trillion tech titan’s crucial cloud business under CEO Satya Nadella
Lastly, don’t forget to check out Morning Brew — the A.M. newsletter that makes reading the news actually enjoyable.
Here are some headlines you might have missed last week.
— Matt
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