IPO Wave Strains San Fran Housing Market: As if the people of San Francisco weren’t already strapped for affordable places to live, the anticipated wave of IPOs this year could squeeze the housing market even more, according to the Wall Street Journal. Local real estate agents are turning to Forbes and other wealth databases for information on those expected to make bank, and using the intel to inform their marketing strategies.
Easing Money Transfer Burdens: For many of us, fintechs often render the idea of the “anti-bank”: young, hip and easy ways to invest or send money to friends for pizza. But financial technology is also aiming to help those whose money transfers are a bit more than a Friday night out. According to the Economist, migrant workers pay out the nose in fees when sending money to family in other countries, and fintech is here to save the day.
More from the Economist: “According to fxc Intelligence, a data provider, the best fintechs keep fees below 2%, and much less on popular routes. They are generally faster, too. London-based Azimo does near-instant transfers to over 80 countries.”
Is America Becoming an Oligarchy?: While America was founded on capitalism, presidential candidate Pete Buttigieg says we’ve strayed too far from its foundation — so much so that New York Times op-ed writer Michael Tomasky is asking if we’re becoming an oligarchy. Tomasky says “democracy” as our founding fathers would have defined it doesn’t fit with the clear economic disparity in America today. And in looking at countries like South Africa, Brazil and India, which are also technically democracies, America hardly has role models.
Reducing Risk in Online Lending: With economists and analysts predicting a recession sometime within the next year, online lenders are buttoning up their practices to protect themselves against escalating credit losses, liquidity crunch and higher funding costs, writes Anna Irerra for Reuters. Companies like Lending Club, Kabbage and others that gained popularity after the 2008 financial crisis are more affected than traditional banks because they rely on market funding that is strained during economic hardship. They’ve also never been tested in a time of economic stress, so only time will tell of their stability.
Sexism in Advertising: Have We Really Progressed?: Despite its reputation as a young, creative and often liberal field, women in advertising are still feeling the effects of a sexist culture at work. The Guardian profiled a handful of female advertising execs on their experience in the field, finding that the pay gap, sexual harassment and a lack of diversity are still prevalent and require copious amounts of progress.