‘Jeff Bezos is So Rich … ‘: Amazon CEO Called Out During Oscars Opening
Kurt Schlosser, GeekWire
Kurt Schlosser covers the Geek Life beat for GeekWire. A longtime journalist, photographer and designer, he has worked previously for NBC News, msnbc.com and the Seattle P-I.
Amazon CEO Jeff Bezos was back in attendance at the Academy Awards on Sunday night and even though there was no official host, comedians Steve Martin and Chris Rock took notice in a monologue that opened the show.
"Jeff Bezos is here!" Rock said. "Great actor," Martin replied as the camera caught Bezos.
"He's got cash. When he writes a check the bank bounces," Rock said before three more jokes came the way of the billionaire Bezos.
#Oscars: Steve Martin and Chris Rock take a few jabs at Jeff Bezos pic.twitter.com/LXfyE95ZiL
— Variety (@Variety) February 10, 2020
"Jeff Bezos is so rich, he got divorced and he's still the richest man in the world!" Rock said. "He saw 'Marriage Story' and thought it was a comedy," he added, about the Oscar-nominated movie starring Adam Driver and Scarlett Johansson.The camera caught Bezos laughing along before Rock and Martin wrapped things up.
"Steve do you have anything you want to add about Mr. Bezos?" Rock asked.
"No, I like getting my packages on time," Martin said.
Bezos is a semi-regular at film and television awards events these days, thanks to the strength of offerings from Amazon Studios.
Amazon got one Oscar nomination this year, for "Les Miserables," a French film competing in the Best International Feature category. Amazon won three Oscars in 2017 — a first for a streaming service.
This story originally appeared on GeekWire.
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'Going Public' is a Fintech Spin on Reality TV and the JOBS Act, with Viewers as Potential Investors
Jul 14 2020
If you've ever watched Shark Tank and wished that you could hop in the waters and invest alongside Mark Cuban and Mr. Wonderful, Going Public may be just the show for you.
The new series will showcase five companies preparing to go public on the NASDAQ stock exchange. Over the course of 10 episodes, viewers will follow the company founders as they promote their offering and receive feedback and advice from mentors, professional investors and other executives. Those watching at home who think they've spotted a winner will have a chance to get in on the action at the initial public offering (IPO) price for the companies that end up going public.
<p>"We think we have what may be the most innovative strategy to acquire retail investors at scale in what may be the lowest cost of customer acquisition in the financial services industry," says Darren Marble, co-CEO of Crush Capital, the L.A.-based fintech firm that created <em>Going Public</em>.</p><p>Casting is now open for participating companies, who can apply at <a href="https://goingpublic.com" target="_blank">GoingPublic.com</a>. Marble told dot.LA that the series will be targeting companies with revenues between $25 million to $100 million; about two years of operating history; and a business-to-consumer, retail-oriented business model that is relatively easy to understand – no complex industries like biotech, and no cannabis companies.<br/></p><p>Marble adds that the show will be seeking a diverse pool of entrepreneurs, and that founder charisma is a plus. </p><p>Participating companies will pay Crush Capital an upfront cash payment and stock compensation. Marble says this means his firm will want companies that are strong candidates for success.</p><p class="shortcode-media shortcode-media-youtube">
<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="bac07e950178e2c5436e687628bbabca"><iframe type="lazy-iframe" data-runner-src="https://www.youtube.com/embed/KTDQ31gNN5M?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span>
</p><p>Production is planned for Q4 of this year, with the series expected to debut in spring of 2021. Plans are in place to allow for filming should the pandemic preclude in-person production, Marble said. Either way, 90% of the show will be shot before it airs, with the ultimate NASDAQ listing aired in or near real-time.<br/></p><p>The show will be produced in partnership with Studio City-based INE Entertainment and will stream exclusively on Entrepreneur.com, operated by Irvine-based Entrepreneur Media, which claims 14 million monthly unique users. The Emmy-nominated INE Entertainment has previously produced reality shows including <em>The Biggest Loser</em> and <em>MasterChef</em>.</p><p>Roth Capital Partners, an investment bank focused on small market-cap companies, is slated to diligence, price and underwrite the IPOs in accordance with Regulation A+, a 2015 amendment to the bipartisan 2012 JOBS Act. Together, these regulations effectively <a href="https://www.forbes.com/sites/kevinharrington/2015/05/22/new-jobs-act-regulation-a-will-be-a-game-changer/#8d4be107f3f2" target="_blank"><u>make it easier for companies to raise money</u></a> from the public, and for more people to have access to IPO investment opportunities. They also eliminate the need for a "quiet period" wherein a firm must refrain from disclosing information for a time leading up to the offering. </p><p>Marble notes that the last five years of Reg A+ offerings have largely missed the mark because they did not attract enough institutional investors, often considered "smart money."</p><p>"What's (been) missing is that the deals aren't attractive to hedge funds, pension funds, mutual funds, family investors," he says. Now, however, in what he calls an "industry first," Roth is guaranteeing the deal. "Ultimately what that means is there's going to be strong institutional demand for these deals."<br/></p><p>In a statement, Byron Roth, Chairman and CEO of Roth Capital, said "we believe that institutional pricing, firm commitment underwriting, and aftermarket support will help advance the Regulation A+ offering process as envisioned by the JOBS Act."</p><p>To invest, viewers will be able to enter an investment portal via the streaming website. Marble says investments will be accepted once episode 1 airs and will remain available for six to eight weeks. </p><p>Two companies will debut in the first episode, followed by the other three shortly thereafter. The company narratives will unfold on a staggered basis, and they will not be competing with each other. </p><p>Marble says Computershare's <a href="https://www-us.computershare.com/Investor/#Home?gcc=us" target="_blank"><u>Investor Center</u></a> technology will provide the backend infrastructure to clear, settle and execute the trades. Once the companies go public, the shares will be liquid, meaning that investors can either hold their shares in the portal, sell them, or transfer them to a different account.</p><p>"We're creating a retail investor renaissance by allowing viewers from around the world to invest in any featured company while they're watching," said Todd Goldberg, Crush Capital's other co-CEO, in a statement.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<img type="lazy-image" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQ1NDI2Mi9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NTMzMzM5Mn0.iZbF83whsjD8OsvteF3NJCHOhj4Y1-CYV_kUMKqeqyw/image.jpg?width=980" id="1df24" class="rm-shortcode" data-rm-shortcode-id="b4b35ab7c18e67383342a5fb2e362008" data-rm-shortcode-name="rebelmouse-image" alt="Going Public" />
<small class="image-media media-caption" placeholder="Add Photo Caption...">Todd Goldberg (L) and Darren Marble (R) co-founded fintech firm Crush Capital</small><small class="image-media media-photo-credit" placeholder="Add Photo Credit...">Image courtesy of Crush Capital</small></p><p><br/></p><h3>Risky Business <br/></h3><p>IPOs can be exciting extravaganzas that result in <a href="https://www.fool.com/investing/2019/12/26/these-were-the-10-best-ipos-of-2019.aspx" target="_blank">big payouts</a> for investors, but <a href="https://www.cnbc.com/2019/04/03/dont-be-fooled-by-the-unicorn-hype-this-year-most-ipos-lose-money-for-investors-after-5-years.html" target="_blank">plenty</a> of <a href="https://news.crunchbase.com/news/over-80-of-2018-ipos-are-unprofitable-setting-new-record/" target="_blank">analyses</a> have found that more often than not they lead to exuberance-fueled losses. And with some <a href="https://www.forbes.com/sites/sergeiklebnikov/2020/06/17/20-year-old-robinhood-customer-dies-by-suicide-after-seeing-a-730000-negative-balance/#2a40da2e1638" target="_blank">dark</a> <a href="https://www.bloomberg.com/news/articles/2020-06-19/robinhood-s-newbie-traders-ignore-danger-signs-to-bet-on-markets?sref=QjdS4d5U" target="_blank">stories</a> of late showing the downsides of democratizing investments, <em>Going Public</em> offers no guarantees. </p><p>To mitigate risk, however, Marble says the host of the show, which is still in the casting process, will serve as a disinterested "investment sherpa" to help audiences make investment judgements. The lead candidate for the role is female and a former trader on the New York Stock Exchange, he says. </p><p>The website that hosts the investment platform will also include a section to educate potential investors on risk versus reward and the IPO process. Viewers will also have access to the disclosure that the companies will have to file to the U.S. Securities and Exchange Commission before participating. </p><p>Marble says there may also be individual investment caps, and that the presence of the "smart money" should limit, though of course not eliminate, the risk of swimming alongside the sharks.</p>
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Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.
Today:
- LA Bars, Gyms and Salons Go Dark Again
- Fisker set to go public with $2.9b valuation, EV SUV to roll out by 2022
- Apple Allocates $400M to Affordable Housing in California
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Southern California Bars, Restaurants, Salons, Gyms, Places of Worship Must Shut Down Indoor Operations Amid Surge in COVID-19 Cases
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQyMDM0Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyOTEyNzMzOX0.iAGyu93QLg4u7of6jR5kB1LcjJs1dH_dlc2ndkknWGs/img.jpg?width=980" id="a7312" class="rm-shortcode" data-rm-shortcode-id="deb62c3b61d59ad6fe2da2d592929dd4" data-rm-shortcode-name="rebelmouse-image" />Image courtesy of Musso & Frank's<p> Bars, gyms, places of worship, salons and offices for non-critical sectors will largely go dark again in Southern California. As coronavirus cases surge, Gov. Gavin Newsom announced a list of new statewide restrictions and targeted closures in 30 counties including Los Angeles. </p><p> Statewide, all bars, dine-in restaurants, wineries, movie theaters, museums, card rooms and entertainment centers must close indoor operations, Newsom said on Monday. </p><p> "This is a new statewide action effective today," he said. </p><p> <span></span>In counties on the state's watch list, which include Los Angeles, Riverside, San Bernardino and Ventura counties, personal care services including salons and barbershops, along with indoor malls and fitness centers must close indoor operations. </p><blockquote class="twitter-tweet">Effective immediately, CA is closing some indoor business operations statewide and additional indoor business operations in counties on <a href="https://twitter.com/CAPublicHealth?ref_src=twsrc%5Etfw">@CAPublicHealth</a> Monitoring List for 3 consecutive days.<br><br>📍Find the updated list of counties here: <a href="https://t.co/snYe5v55Rw">https://t.co/snYe5v55Rw</a> <a href="https://t.co/W3wBJp2ap5">pic.twitter.com/W3wBJp2ap5</a><br>— Office of the Governor of California (@CAgovernor) <a href="https://twitter.com/CAgovernor/status/1282754914821656576?ref_src=twsrc%5Etfw">July 13, 2020</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p> Those on the watchlist are among the most populous parts of the state, containing about 80% of Californians. </p><p> Restaurants are still allowed to stay open for outdoor dining and takeout. <br> </p><p> As of Monday, California had more than 329,000 cases and 7,040 deaths. </p>Fisker Set to Go Public with $2.9b Valuation, EV SUV to Roll Out by 2022
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQ1MzYxNS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1MzAwMzU5MH0.KjTk7UCExD0E7jgdTCxdRO7pR0kI-TbtMYQgsD6_HJw/image.jpg?width=980" id="00531" class="rm-shortcode" data-rm-shortcode-id="d9feb4bf17ba371882a99b14ebfa134a" data-rm-shortcode-name="rebelmouse-image" /><p>Electric car startup Fisker is set to go public through a merger that values the company at $2.9 billion and allows it to begin producing its first vehicle by 2022. </p><p>Los Angeles-based Fisker <a href="https://www.fiskerinc.com/wp-content/uploads/2020/07/Fisker-Press-Release-NYSE-Merger-Apollo-Spartan-Energy-FINAL-Sunday-1530PST-D360-FINAL.pdf" target="_blank">announced the deal </a>with Spartan Energy Acquisition Corp, a special purpose acquisition company backed by private equity firm Apollo Global Management on Monday. It comes as investors look for the next Tesla Inc, which has seen soaring valuation in recent weeks.</p><hr><p>The deal - expected to close by the end of the fourth quarter - will give Fisker more than $1 billion in gross proceeds to jumpstart production of Fisker Ocean, the vision of founder Henrik Fisker, CEO and chariman of the eponymous named startup. The arrangement spotlights the use of special purpose acquisition companies, known as a SPACs. Another SPAC enabled electric-vehicle startup Nikola Corp to go public last month. Nikola shares have soared since their debut. </p><p>The Fisker Ocean, which premiered at the Consumer Electronics Show earlier this year, starts at $37,499 and is being billed as the most sustainable vehicle, replete with a vegan interior and recycled carpet. Reservations for the either purchase or lease start at $250. </p><p>"This vote of confidence from investors, coupled with our exciting progress on the development of our first vehicle, lays out Fisker's path to 2022 and beyond," said Fisker, a one time Aston-Martin designer. <br></p><p>He <a href="https://www.cnbc.com/2020/07/13/ev-startup-fisker-to-go-public-through-merger-with-apollo-backed-firm-at-combined-value-of-2point9-billion.html" target="_blank">told CNBC </a>that the agreement was the best way to get the line of vehicles produced, but said the company does not intend to build its own plant. While the EV market is expected to soar in coming years, startups struggle to find funding for the capital intensive demands of building a car. </p><p>"Our funding, product plans and brand development actions are on course," Fisker said in the announcement. "Prototype vehicles are expected to start durability testing by the end of this year, and we continue to make significant progress on the development of our sales and service proposition."</p><p>Fisker's previous venture, Fisker Automotive, fell into bankruptcy in 2013 and was bought by a Chinese group that rebranded it Karma. That company, which has been struggling after several layoff rounds and restructuring, <a href="https://dot.la/karma-car-2646367624.html" data-linked-post="2646367624" target="_blank">last week secured $100 million from investors</a>. It hopes to use that to raise a total of $300 million and roll out a line of electric vehicles.<br></p>Apple Allocates $400M to Stem California's Housing Crisis
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQ1Mzk5My9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTU5NTcxMzA4NX0.K86VfE92hD0CjisMGk5r9Uc-uVxIrfDtuG4pHn1wbb0/image.jpg?width=980" id="9b774" class="rm-shortcode" data-rm-shortcode-id="f9eea1ac10a1579d146be0552a48fec0" data-rm-shortcode-name="rebelmouse-image" />white and brown wooden house during night timePhoto by Carl Nenzen Loven on Unsplash<p>Apple announced today that it has allocated its first $400 million toward addressing California's housing crisis. The Silicon Valley giant had said last November it would commit $2.5 billion to the effort over multiple years. </p><p>Apple first partnered with Housing Trust Silicon Valley in hopes of bringing affordable housing and mortgage assistance to the Bay Area. Now, they're expanding their partnership to California House Finance Agency (CalHFA), a state agency that supports renters and homebuyers in two ways: Their single family division allows families to apply for loans and work with loan officers directly to tailor a plan to their income. Their multifamily division helps housing developers apply for loans to create more affordable housing.</p><p>The funding is heavily concentrated around the Silicon Valley and the Bay Area, but cities statewide will be able to apply for their housing assistance in areas throughout the state where the company is present, including Culver City.</p><p>"Affordable housing means stability and dignity, opportunity and pride. When these things fall out of reach for too many, we know the course we are on is unsustainable, and Apple is committed to being part of the solution," said Tim Cook, Apple's CEO, in a press release. </p><p>The company is dividing its financial assistance to have the broadest possible impact: $1 billion for an affordable housing investment fund, $1 billion for first-time homebuyer mortgage assistance fund, $300 million Apple-owned land for affordable housing, $150 million Bay Area housing and $50 million to support vulnerable populations.</p><p>The low-cost housing efforts will roll out over the next five years across the Bay Area, but two of the four programs are already underway.</p>From Your Site Articles
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