Goldman Sachs spends millions to make your selfies pop & Amazon is now your personal stylist
Wall Street and Silicon Valley are teaming up to make your Instagram feed pop. Goldman Sachs, the big bank to end all big banks, just invested in Lightricks. You don’t know that name, but you know FaceTune, because you use it to make your selfies really snap. Lightricks is the company behind it.
Silicon Valley is taking care of your killer outfit, too. Amazon just announced a personal shopper service for Amazon Prime customers. Fill out a survey on your fashion preferences, give Amazon your measurements, and Jeff Bezos will hand-deliver tailored garments to your door in two days or less. Well, two truths and a lie there.
Jokes aside, Amazon has one goal—to get you to buy more. If investing in a higher level of service like this works and people sign up to spend, expect to see even more of this kind of service from Amazon in the future.
It’s really no different from Bezos & Co. offering to kit out your home with all the latest smart appliances if you close a sale with their partners at Coldwell Banker.
Big bank J.P. Morgan, a Goldman Sachs competitor, is also cutting monster checks, too. But they’re going after the world’s largest financial services market—China. Will J.P. Morgan fare like Uber did, and spend a bunch of money only to lose to local incumbents? Can they compete with the tech-savviest finance customer base on Earth?
Maybe it will learn a thing or two about how finance tech is deeply ingrained in everyday life in China and bring some lessons home.
All this on Goldman Sachs, Amazon, J.P. Morgan, and more in today’s Linkage.
- Goldman sachs invests in $135m Lightricks fundraise to make your selfies better(reuters.com)
- Zillow says 200,000 homes at risk of climate-change-fueled flooding(zillow.mediaroom.com)
- J.P. Morgan is going to China(bloomberg.com)
- Fed cuts interest rates 25 basis points(reuters.com)
- And if mortgage rates fall any lower, Americans will have the most buying power in 20 years(businesswire.com)
- Gov't mortgage giant Freddie Mac made $1.8 billion last quarter(freddiemac.com)
- Amazon will pick out your next wardrobe for you(vogue.com)
- Real estate crowdfunders Groundfloor raise $3m from the public(housingwire.com)
- San Francisco wants to cut builder fees for affordable housing(sf.curbed.com)
- While Minneapolis aims to chop single-family zoning(bloomberg.com)