Musk’s biggest fans — WFH whistleblower — Goldman dismay

 
Subscribe to Insider View in browser
 
 
 
INSIDER WEEKLY
 
 
 
 

Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Weekly, a roundup of some of our top stories. 

I want to start by wishing you all a happy holiday season and New Year. 2022 was another year for the history books. The biggest military attack since WWII. Historic inflation across much of the Western World. One of the biggest financial scandals of all time.

Through it all, hundreds of thousands of you have opened this email and spent a little time with me each weekend. Thank you for reading. It's a privilege to be in your inbox every week.


On the agenda today:


If this was forwarded to you, sign up here.  Download Insider's app here.


Elon Musk's biggest fans: tech founders

Tech execs applauding Elon

From the moment Elon Musk took control of Twitter, he has been moving fast, breaking things, and sparking outcry. This past week, he said he'd step down as CEO after a Twitter poll found most respondents wanted him to.

Through it all, one group has been quietly cheering on the CEO from the sidelines.

For many Silicon Valley founders, Musk's approach to his Twitter takeover makes him a visionary. His "hardcore" approach to cost-cutting and efficiency is a stark contrast to the Silicon Valley norm of lavish benefits and coddled workers — and tech execs see it as a blueprint to emulate at their own companies.

Why tech founders love Musk.


Partying, spending, and sexual-harassment accusations at Pollen

Callum Negus-Fancey and Liam Negus-Fancey in front of a festival themed background.

In May 2019, Pollen CEO Callum Negus-Fancey walked through the woods, grinning as he sprayed Fireball into his employees' mouths out of a fake fire extinguisher. About 400 Pollen employees were camped out for five days to celebrate the UK-based events and travel company.

Three years later, Pollen's parent company went bankrupt. About 430 employees were let go without their final paychecks. As of July 20, Pollen and its subsidiaries owed customers $8 million in refunds, according to an internal spreadsheet obtained by Insider. 

From the outside, Pollen's collapse was a shock. But according to 31 former Pollen employees, the implosion was years in the making. Many Pollen operated a little too much like its festivals: Drugs were often present, and heavy drinking and partying seemed to be part of the job description.

Inside Pollen's implosion.


The rise of the WFH whistleblower

Business man blowing orange whistle on blue background 2x1

The Securities and Exchange Commission has seen a historic jump in complaints to its whistleblower program over the past few years: The program broke the record again this fiscal year with over 12,300 tips — a 136% increase from 2019. And this surge may not be a coincidence.

As the pandemic spread and workers retreated to their makeshift home offices, employees began to reconsider their relationship with work. The space between employer and employee helped many people come to terms with the malfeasance happening at their companies and, eventually, report it.

How remote work sparked a flood of whistleblowers.


Inside the grumbling at Goldman Sachs

David Solomon

There's a sour mood at Goldman Sachs — and some of the blame is being pinned on CEO David Solomon. The news that bonuses are expected to fall across Wall Street doesn't seem too surprising amid rising interest rates and sluggish dealmaking.

But at Goldman, dozens of insiders say that resentment is brewing because Solomon isn't doing more to punish money-losing teams — and it could lead to a wave of defections from the bank's top ranks. 

Read more on the turmoil at Goldman Sachs.


This week's quote:

"It's kind of amusing when I hear buyers' pessimism about the market, and how they want to hold out for a great deal in a year from now. It's unrealistic. I've been in this game a long time, and those people always lose out."


More of this week's top reads:


Curated by Matt Turner. Edited by Jordan Parker Erb, Hallam Bullock, and Lisa Ryan. Sign up for more Insider newsletters here.

 
 
 
Download on the app store   Get it on google play

Key phrases

Older messages

Iguanas are falling from trees!

Friday, December 23, 2022

Plus: The spouses having Christmas affairs, and 2022's most popular TV shows. View in browser Subscribe December 23, 2022 Hello, Insiders. I'm writing to you from my not-so-sunny homestate,

Wall Street: The blame game at Goldman

Friday, December 23, 2022

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Happy Friday. Dan DeFrancesco checking in from NYC. One programming note, we'll be off on Monday, but back

SBF’s ex pleads guilty

Thursday, December 22, 2022

Plus: 'Budget Eats' implosion, and what it's like to 'sleep divorce'. View in browser Subscribe December 22, 2022 Hello, Insiders. Do you send out holiday cards? Every couple years

Wall Street: A headhunters’ rapid ascent

Thursday, December 22, 2022

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET It's almost Friday. Dan DeFrancesco checking in from NYC. I'd like to personally thank Steve Cohen, or

The Warren Buffett diet

Wednesday, December 21, 2022

Plus: Entrepreneurs may have brain parasites, and living-room trends for 2023. View in browser Subscribe December 21, 2022 Hello, Insiders. It's almost time for New Year's resolutions. And

Wall Street: Crypto can’t help itself

Tuesday, February 7, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Hey there! Dan DeFrancesco in NYC, and I'm curious why you'd want to spend $70 to dine in complete

Let's be honest about job titles

Tuesday, February 7, 2023

Plus: Attack on the electric grid, and home prices are falling. View in browser Subscribe February 7, 2023 Hello, Insiders. This week, I'm highlighting our incredible documentary series “Risky

This doctor wants to prescribe a cure for homelessness

Tuesday, February 7, 2023

A growing hospital movement aims to improve health outcomes of homeless patients with what might be considered the ultimate preventive care: providing them with a home. View this email online Planet

Thousands dead

Monday, February 6, 2023

Bloomberg Evening Briefing View in browser Bloomberg Some of the most powerful Middle East earthquakes in decades killed more than 2500 people in Turkey and Syria while leaving millions in the cold as

🥩 Investors have beef with Tyson

Monday, February 6, 2023

Newmont made a bid for an Aussie rival | Tyson Food served up some boney results | Finimize Hi Reader, here's what you need to know for February 7th in 3:11 minutes. 🗞 You're reading the

Gen Z knows it pays to live at home

Monday, February 6, 2023

Plus: Tech CEOs screwed up, and Chinese surveillance balloon shot down. View in browser Subscribe February 6, 2023 Hello, Insiders. I'll be focusing my notes this week on an incredible series from

Wall Street: ChatGPT comes for finance

Monday, February 6, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Welcome back! Dan DeFrancesco in NYC. On tap, we've got stories on how ChatGPT is being used at one PE

🥷 Time to get tactical

Sunday, February 5, 2023

The US is over-employed | The IMF told China to up its game | TOGETHER WITH Hi Reader, here's what you need to know for February 6th in 3:13 minutes. 📝 We all need a refresher from time to time,

🚀 IG's founders unveil their next act

Sunday, February 5, 2023

Plus, why does every app have a subscription now? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Tech’s new era — Fraud reckoning — China’s grim omen

Sunday, February 5, 2023

A selection of our best stories from the past week, as chosen by a top editor. Subscribe to Insider View in browser INSIDER WEEKLY Hi, I'm Matt Turner, the editor in chief of business at Insider.