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Good Wednesday Morning,
Daylight – Steve Wynn resigns as CEO of Wynn Resorts amid more misconduct allegations coming out of the woodwork with garden variety style.
Buzzard’s Roost – The board started an “investigation” (and boom), they had a line out the door. The lawyers went to him and said this possibly can be handled without jail time if you step down. Big loss for company because Wynn Resorts is Steve Wynn, end of story, and end of company as it was yesterday. His number 2 Matt Mattox will take over as CEO this morning. I met Steve Wynn once and he was cursing about the tile not being clean in the Bellagio and the wrong tissue paper placed in the rooms. It was like watching the Good, the Bad and the Ugly. By the way, I thought him giving commands to his German Shepherds in German was a little over the top.
Culture – The author of the new book “Brotopia,” says mostly that Silicon Valley’s male-centric culture stems from, a study that indicated antisocial people made better programmers. Her entire book says that stereotype continues today.
Inbox flooded with the same question: in light of #metoomovement is it o.k. to date someone you work with? The Wall Street Journal says “It’s Complicated.” Not really. As far as I can tell, the answer is no. Upstream or downstream. I am going to ask Taylor English to give us a seminar. Throw this one over to Joe.
M&A – The Los Angeles Times is close to being sold. A billionaire doctor will buy it in a $500 million deal.
Gartner Group agreed to sell CEB Talent Assessment, a provider of talent assessment solutions, for $400 million, to Exponent Private Equity.
Style – A cherry-red Tesla sports car is in space. That’s what Elon Musk loaded into the Falcon Heavy, which launched successfully yesterday in a milestone for his company, SpaceX. It’s the world’s most powerful rocket in operation, able to lift more payload than any U.S. rocket since the gargantuan Saturn 5 that NASA used for the Apollo moon landings.
Economics – Every successful Entrepreneurial team understands this word OKU – give a little more and get a more later. Member Urban Enterprises supplemented our team on Friday and did a great job and yesterday. Without us asking or expecting, they sent us a portfolio of pictures, which they did on their own initiative. OKU Shayne Walsey!
Live Rounds – A high-level meeting between the U.S. and North Korea appears possible as a sidebar at the Winter Olympics. Vice President Mike Pence is heading to South Korea, and a 90-year-old North Korean official who serves as a nominal head of state will be there too. But the big boss in town will be the rare appearance of Kim Jong-Un’s sister who calls a lot of the shots in government, including problems with half-brothers. At the U.S. state department, her nickname is Un-Ivanka.
Hot – A federal judge in California will hear a case Friday that could pave or block the way for Mr. Trump’s border wall. The judge on the case is Gonzalo Curiel, whom the president taunted during the 2016 campaign.
The Apple HomePod has arrived to compete against Amazon’s Alexa. The reviews say don’t rush out to buy it. By the way, smart speakers have utilization less than a boat. Buyers feel they upgrade their status. Gotcha.
A Syrian baker is bringing Middle Eastern ice cream to California. Bouza has the consistency of cold, stretchy taffy texture.
Hedge Funds – Battery Ventures raised $1.25 billion across two new funds. Battery Ventures XII is an $800 million fund, and Battery Ventures XII Side Fund is a companion vehicle with $450 million to fund larger, fast growth companies.
IPO – One Quarter Wonder – Snap shares soar nearly 30% after quarterly revenue beat estimates. Snap, which makes the app Snapchat, saw fourth quarter sales jump 72 percent, beating analyst estimates, with average revenue per user rising 46 percent.
Venture Capital – Paige.AI, a cancer pathology machine learning-focused startup, raised $25 million.
Reonomy, a data provider to real estate investors, brokers, lenders and appraisers, raised $16 million.
Investment Banking – Baird Capital acquired a stake in ReMed Recovery Care Centers, a provider of treatment for individuals with traumatic brain injuries.
Spotlight – Events Calendar
Entrepreneurial Channel – Pardon The Disruption
February 13 from 12:00 pm to 1:00 pm:
Morning Report Review with Ted Baker, Founder Qalo and Member Invitees
Live Event – Member Complimentary / Washington D.C.
February 15 from 6:30 pm to 8:30 pm: Times Talks with Jennifer Lawrence
Live – Aprio – New Tax Strategy for Business
February 22 from 9:00 am to 11:00 am
5 Concourse Parkway
Atlanta, GA 30328
Entrepreneurial Channel – SoulShine Sunday
February 25 from 11:00 am to 12:00 pm
Live Business Launch OVME – Mindset of a Maniacal, Anal Entrepreneur
February 28 from 6:00 pm to 8:00 pm
Dr. Mark McKenna
Flagship Studio’s & HQ – 3167 Peachtree Rd, NE, Suite G, Atlanta GA
Exits – Skyview Capital sold Digital Fuel SV, a provider of IT business management tools, to Apptio.
Platinum Equity acquired WS Packaging Group, a provider of labels and packaging solutions for the food and beverage, consumer packaged goods and pharmaceutical markets.
Gill Marine acquired Gill North America, a marine gear company.
Alliance HealthCare Services agreed to buy e+CancerCare, a operator of a network of outpatient cancer care centers.
Venture Capital – Lightmatter, a maker of a light-powered AI chip, raised $11 million.
Harbor, a blockchain technology company, raised $10 million.
Wandering Bear, a coffee brand, raised $8 million.
8th Wall, a company that helps developers build augmented reality applications, raised $8 million.
Loris.ai, a data-driven compny spun out from Crisis Text Line, raised $2 million.
Fair, a car ownership startup, raised funding of an undisclosed amount.
Glever.com, an AI-assisted business writing company, raised seed funding of an undisclosed amount.
Private Equity – Causeway Media Partners invested in QuintEvents, a provider of travel/experience/hospitality packages.
Blueday, a provider of the store revenue management system for retail, raised funding of an undisclosed amount.
EagleTree Capital acquired a majority stake in Airtech Group, a provider of specialized pressure technologies.
Wellspring Capital Management acquired SupplyOne, a distributor and converter of packaging products.
And that’s what’s ahead, Cliff