SoftBank is making a big bet on real estate tech. The Japanese telecom giant invested $450 million in Compass, a $2.2 billion real estate company shaking up the industry. Rob Lehman, Chief Revenue Officer at Compass, was with us to discuss what the deal means for the company.
With investments ranging from Uber to WeWork, SoftBank is one of the most influential investors in the tech community. Lehman explains that his company appealed to SoftBank because they recognized a technology gap in the real estate market that Compass was filling. He also points out Compass was an attractive investment because real estate is the largest asset globally.
With the new funding, Lehman says the company will focus on growth and continued investments in technology. When it comes to emerging technologies, Compass doesn't have plans for virtual reality. Instead, the company is more focused on artificial intelligence, says Lehman. In addition to technology, the new funding will go to breaking into tier one cities such as Atlanta and Phoenix, he adds.
The Treasury Department, Federal Reserve, and Federal Deposit Insurance Corporation said all depositors at the failed Silicon Valley Bank could access all their money quickly, even as another major bank was shut down.
The Treasury Secretary, who emphasized that the situation was much different from the financial crisis almost 15 years ago, said the government would help depositors who are concerned about their money.
Kathryn Minshew, the CEO and founder of career development platform The Muse, said that there are some things a candidate can do to make sure their resume makes it through the system.
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