The weekend is here!Dan DeFrancesco in NYC, and it turns out those stupid red boots I previously wrote about are actually selling like hot cakes. Go figure.
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Fun fact Friday: The only letter of the alphabet that doesn't appear in a US state name is "Q."
On tap, we've got stories on a new PE fund targeting deals in sports, another investment bank planning job cuts, and how to eat healthy on a budget.
But first, how would you like to pay for that?
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1. Staying one step ahead.
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Is it harder to make it to the top or stay there?
Plenty of attention is given to companies on the rise. Everyone loves an underdog story. We even have an annual list highlighting the top up-and-coming fintechs that you can check out here.
There are benefits to being the top dog, but it's not always easy. Sitting high on the totem pole means there are more people gunning for you, and your fall from grace will be even more spectacular.
That brings us to payments, a space that's increasingly competitive in recent years from both above and below. There are plenty of reasons to want to get in (money changes hands A LOT, whether it's between people, companies, or both). And while the margins aren't big, squeezing somewhere into the payments food chain could be an easy way to generate additional revenue.
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So it shouldn't be surprising that everyone from startups to the biggest banks are trying to get in on the action. This list from Insider's Bianca Chan and Paige Hagy looks at the people pushing top payment companies to stay ahead of the innovation curve.
Bianca and Paige spoke to more than a dozen industry insiders to identify executives who are making sure companies like PayPal, Stripe, Apple, and Visa are keeping the competition at bay.
Click here to check out eight executives ensuring the top payment players stay ahead of the competition.
In other news:
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2. This PE fund just raised $300 million with an eye on sports deals.Bluestone Equity Partners, which is run by NBA and IMG vet Bobby Sharma and Kyle Charters, is considering everything from investing in sports teams to media companies. Here's more on how the duo raised money in choppy markets and what's next.
3. BofA plans cuts to its investment bank. Bank of America, which had already paused hiring, is planning to lay off some bankers, Bloomberg reported. More here.
4. From friends to foes, the FTX cofounders' fallout. Check out this Bloomberg feature that details how Gary Wang and Sam Bankman-Fried, cofounders of FTX, went from longtime friends to pointing fingers at who's at fault for the crypto exchange's spectacular blowup. Read it all here.
5. The group behind a bevy of regional sports networks is in deep financial trouble.Diamond Sports Group, which holds TV rights for sports games across 19 networks, is set to miss a $140 million interest payment that could have significant knock-on effects to the larger media landscape. Here's why broadcasters, cable operators, and leagues are keenly watching what happens next.
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6. Here's how to make your pitch deck. Ann Lai of Bullpen Capital shares her tips for how founders should structure their pitch decks to catch potential investors' eyes. This is what she recommends. And if you're looking for actual examples, we've got more than 50 pitch decks from a variety of fintechs.
7. You might finally be able to think about buying a house again. A top economist predicted rates will start coming back down to earth. Here's more on the prediction from the Mortgage Bankers Association. And if that's got you interested in buying again, check out these 14 cities where home prices have dropped the most.
8. More than a dozen of Jeffrey Epstein's victims were paid via JPMorgan Chase accounts. The latest revelation came after part of the US Virgin Islands' lawsuit against the financial firm was unsealed. The Virgin Islands accused the bank of facilitating the now-dead pedophile's sex-trafficking scheme and ignoring red flags. Read more here.
9. It's easy to lose weight...you just need to quit your job, move to a remote village, and cut off all contact with family and friends for seven months. Bryan O'Keefe lost 137 pounds in seven months, but he took some extreme measures to get in shape. More on his wild weight-loss journey.
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10. How to stay healthy on a budget. I know it's about to be the weekend, and you're going have some cheat meals, but here are some nutritious meals for less than $5 a day. So get to meal prepping with these 21 budget-friendly recipes.
Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@businessinsider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Nathan Rennolds (tweet @ncrennolds) in London.
