Primer Podcast #29 - Peloton, 1MDB Goldman Sachs Scandal, Mining and Data Ownership

Happy Monday ! In this episode we break down Peloton, Goldman Sachs & Data Ethics. 

Peloton is a fitness technology company that is leveraging hardware and software by producing high end fitness products and a SaaS business model to boot. John Foley is the CEO and Founder of the brand where he was previously the President of E-Commerce at Barnes & Noble. The company has seen amazing growth at a market Capitalization at a rate of over 380% since their IPO. YUGE. The company, like Zoom has seen huge growth and has taken advantage of the COVID-19 Pandemic as consumer behavior is shifting. 

Goldman Sachs was involved in the 1MDB Scandal (1 Malaysia Development Berhad Scandal) which is one of the biggest financial scandals of all time. This Scandal involved the Malaysian sovereign wealth fund and then Prime Minister Najib Razak who was accused of moving $700M from the 1MDB to his personal bank accounts. Goldman Sachs led the fundraising for 1MDB and had to pay over $2.8B. Jho Low is A Malaysian businessman and is an international fugitive for his connection in the 1MDB scandal and was supposedly the mastermind behind the process. 

Data Data Data! Luca is looking into the startup world at the company, Mine. Mine is a company that brings the ownership of data back to the user. With Mine, you can enjoy the internet feeling safe and secure where it gives the power back to you. They use AI (Artificial Intelligence) to discover what companies are holding your data by analyzing your emails’ subject lines. Mine makes it easy to reclaim your data. Mine Recently raised a Series A of $9.5M. Mine is an Israel company. The company was founded by CEO Gal Ringel, CTO Gal Golan and CPO Kobi Nissan. Ringel and Golan are both veterans of Unit 8200, the cybersecurity unit of the Israeli Defense Forces.