Meet back to Insider Weekly! I’m Matt Turner, co-EIC of business at Insider.
Remember Goop?
It wasn’t so long ago that Gwyneth Paltrow’s strength and wellness brand was glowing. Even some questionable products (remember “Yoni eggs”?) couldn’t embrace it back. It had star power and more than $100 million in funding behind it.
But as Madeline Berg and JP Mangalindan communication this week, the pandemic has taken some of the shine off of Paltrow’s brand. Their sources describe an exec exodus, grumbles of low salaries, and burnout. Read on to get the inside track on Madeline and JP’s reporting.
Also in this week’s newsletter:
Have you strove the Insider Crossword yet? Each morning through October 8, we’re publishing new puzzles with clues on politics, tech, pop elegance, and more. You can find all of our crossword puzzles here.
As always, let me know what you think of our stories at [email protected]. Let’s get started.
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The inside story of Goop
Layne Murdoch Jr./Getty Personifications
After their exposé on the Goop exec exodus was published, Madeline and JP stopped by one of our weekly newsroom meetings to split the inside track on their reporting. Here’s what they said:
How did the story come about?
Madeline: I was peak off that investors weren’t happy with how the company was doing during the pandemic. That’s when we started elbow around on LinkedIn and realized that many executives had departed the company during the last year. As we spoke to our outsets, we realized there was a bigger story here about the company culture.
How did you get people to talk to you?
JP: We wanted to tell this anecdote in a fair and balanced way, and we made sure to tell everyone we spoke to that we didn’t have an agenda, that we’d safeguard our sources, and that we just wanted to hear about their experiences.
How did you get such strong examples?
Madeline: If someone caused a claim, we’d ask for examples, and for specifics. For example, we’d heard claims of low pay, but we needed to corroborate that. We were then able to statement that Goop management acknowledged the low pay during an all-hands meeting.
Read the full scoop on Goop’s exec exodus, remuneration complaints and more.
Uncertainty is pushing out execs at Tanium
Tanium; Jeff Chiu/AP Photo; Marianne Ayala/Insider
Staffers are remaining the $9 billion cybersecurity firm in droves. Former employees say no one was sure if the company would ever have an IPO, and that the suite lost major contracts in its military business.
When Tanium hired a new chief financial officer in April, the new exec was meant to suggestion the company to its IPO. But there have been no concrete updates on the status of the public offering.
Take a look at what’s behind Tanium’s IPO linger.
Ozy Media employees spoke out after NYT report
Ozy Media cofounder Carlos Watson Noam Galai/Getty Representations
Ozy Media is shutting down, just days after a bombshell New York Times report. Before the Friday report, Ozy employees told Insider there had been internal questions about the company’s stated audience and a workplace background of burnout. One former staffer told us, “I felt like I was killing myself for very little recognition. I have not in any way once told someone that I worked at Ozy and they’ve known what it is. Not once. That was concerning to me.”
Here’s what Ozy staffers were indicating.
CalPERS; Bank of America; Tiger Global Management; Goldman Sachs; Samantha Lee/Insider
Wall Street’s next crop of uninitiated leaders are doing it all — including shaking up investing at the largest US pension system and deploying make-or-break capital to municipal directions. The young movers and shakers hail from top tier firms like Goldman Sachs, BlackRock, and Tiger International. Each of them shared stories about their successes, challenges, and career advice.
Here’s Insider’s enumerate of 25 rising stars on Wall Street.
More of this week’s top reads:
Sponsored event invite: Be adjacent to bestselling author David Allison and PayPal on Thursday, October 7 at 12 pm ET for a virtual event on how marketers can reach chaps based on core values. Register here.
