Finance professionals have shed their post-2008 villain status in New York's social and dating scenes, and the people who know the city's nightlife best say Silicon Valley deserves the credit, for all the wrong reasons. A decade ago, a young banker in Manhattan hid his business cards at parties. The trading floor was social poison. […] The post Wall Street is cool again — and the tech industry's fall from grace made it happen appeared first on American Almanac .
Finance professionals have shed their post-2008 villain status in New York's social and dating scenes, and the people who know the city's nightlife best say Silicon Valley deserves the credit, for all the wrong reasons. A decade ago, a young banker in Manhattan hid his business cards at parties. The trading floor was social poison. Clubs turned suits away at the door. Soho House famously asked members not to bring Wall Street types to drinks. Venues like Don Hill's and Socialista were, in the words of one nightlife executive, "mostly forbidden" territory for anyone who smelled like a Bloomberg terminal. That era is over. The New York Post reports that finance workers are now welcomed, even courted, at the city's most exclusive clubs,…Open
The lawsuits targeted Kalshi, Robinhood, Coinbase, Polymarket, Crypto.com, and their affiliates for operating prediction markets on event contracts in the state that resemble and pay out like sports wagering.
Once called "dumb money," everyday investors —people trading via Robinhood, Schwab and the like—are now collectively big enough to have sway over the direction of markets. Why it matters: That power can come with real risks for this herd of retail investors and potentially for the economy if they pile into an investment that goes terribly wrong. State of play: Investments are taking on an increasingly bigger share of the wealth picture for everyday Americans, according to the JPMorgan Chase Institute . - Retail investing makes up about a quarter of daily trading volume on average, according to Jefferies . - Young people are also increasingly viewing investing as a source of income, according to a survey from the Oliver Wyman Forum.…
