Meanwhile, Goldman Sachs' marketing expansion under chief marketing officer Fiona Carter has raised questions about its cost and efficacy. The decline of on-the-job training is identified as a costly mistake for companies, leading to a lack of proper training and mentorship. The newsletter also includes a quote from Sylvia Yeh on her promotion to partner at Goldman Sachs and highlights top reads on topics such as OpenAI's struggles, Wall Street bonus season, and Silicon Valley investors' reaction to Trump's win.
Key takeaways:
- Elon Musk is co-leading a new Department of Government Efficiency (DOGE) aimed at identifying wasteful spending in the US government's $6.75 trillion budget.
- An internal Tesla salary database reveals a high-risk, high-reward pay system, with lower base pay but potentially lucrative future payouts.
- Healthcare startup Forward, which aimed to revolutionize the doctor's office with AI, is closing down after raising $650 million in funding.
- Goldman Sachs' new chief marketing officer, Fiona Carter, has been making waves with rapid team growth and high spending on sponsorships, leading to internal questions about the cost and efficacy of the bank's marketing efforts.