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finally! Dan Defrancesco New York is recovering.
Fun facts for Friday: Musician and record producer Pharrell Williams is known for using a four-count beat at the beginning of his songs. Find out for yourself.
Today, we’re talking about AI-powered tools that help Bank of America bankers prepare their customers, BlackRock’s latest deals for private credit strategies, and How to cure that sore throat.
But before that, I need more from you.
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Oothichai Luemuang/EyeEm/Getty Images
1. No more gim.
For as long as I can remember, the safest place on Wall Street for job security was the tech industry.
Markets go up and down. Transactions come and go. However, financial companies are always looking for engineers.
Certainly, this job does not provide income like rainmaking. And at times you may feel like a second-class citizen. But you are always needed. And even if you lose your job, there will be another company waiting to scoop you up.
But that sentiment won’t hold up for long, according to Wall Street billionaires.
Speaking to Citadel’s newest intern, the foundation’s founder, Ken Griffin, said the rise of generative AI has caught the attention of software engineers.
“The days of ‘I’m a good programmer’ are over,” Griffin told Exclusive Group.
Of course, Griffin isn’t saying technologists won’t be available to financial firms. As reported by Insider’s Paige Hagy, Griffin instead emphasized how programmers need to position themselves to deliver the most value to businesses in a post-ChatGPT world.
So understanding how to code is not without value.But it’s not enough just code.
Of course, this is a problem that engineers have created for themselves. Before (before ChatGPT), no one really questioned the value programmers added.
Let the technicians get you out of the comfort zone.
Read more from Ken Griffin on how programmers are thriving despite the rise of AI
In other news:
The ultra-rich spend hundreds of thousands of dollars hiring pop stars like Flo Rida and Drake to perform at private events like bar mitzvahs.
Photo credit: Tommaso Boddi/Getty Images for Race to Erase MS
2. I’m getting by with a little help from my AI friends. Bank of America built Banker Assist (think Erica) internally to help bankers research their customers. Find out how this can help them work smarter.
3. BlackRock has just expanded its arsenal of private credit wars. The world’s largest asset manager has announced plans to acquire Creos Capital, a London-based growth and venture debt specialist. Learn more about this deal and why BlackRock might do more.
4. Describe job cuts at Goldman. The bank’s chief operating officer, John Waldron, has spoken of some of the biggest headwinds the company faces as it considers further cuts. he said:
5. How Kim Kardashian will take over physical education. The megastar shared some details about his strategy for considering a deal with his PE fund, SKKY Partners. Read her strategy.
6. No, generative AI cannot tell where the market is going. At least, that’s what Wall Street veteran Marty Chavez thinks. And he has a very cool explanation for why.
7. Ray Dalio is not feeling good about the direction of the economy. The Bridgewater founder said the country was at the beginning of a debt crisis and that the situation would get worse. Click here for details.
8. All-cash homebuyers are becoming “disruptive” to the housing market. A third of all homebuyers are paying in cash, the highest percentage in nearly a decade, according to reports. Here’s why it causes problems:
9. Everyone pays a price. Even the biggest stars in the world won’t show up to a private party if the offer is right. See how stars like Beyoncé and Drake perform at everything from bar mitzvahs to birthdays.
10. Did this smoke make your throat a little sore? These 6 drinks will soothe your throat and boost your immune system. I hope you’re thirsty.
Curated by Dan Defrancesco in New York.Feedback or tips? Email ddefrancesco@insider.com and Tweet @dandefrancescoagain Connect on LinkedIn.Edited by Jeffrey Kane (Tweet @jeffrey_cane) New York and Nathan Reynolds (Tweet) @ncrennolds) in London.
