Silicon Valley might grab all the headlines, but New York isn't far behind as America's number-two tech hub. Grand Central Tech's Matt Harrigan joins Cheddar to discuss what it will take to bring big tech to the Big Apple. He shares his experience building an incubator for over 100 companies sharing 100,000 square feet of space in Manhattan.
Harrigan considers the various benefits New York has going for it as a potential technology capital. He reveals that New York's biggest unicorn of 2016 wasn't a start-up, but rather the Broadway musical "Hamilton." Harrigan uses this example as evidence that the city's diversity and culture give it a leg up on other metropolitan areas.
Finally, Grand Central Tech's co-founder and general manager discusses the company's focus on diversity. He says 50% of the platform's companies are female founded, and nearly 30% were started by veterans or persons of color. He explains how this refutes tech's reputation as a monochromatic boys' club.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
