Welcome 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 health and wellness brand was glowing. Even some questionable products (remember “Yoni eggs”?) couldn’t hold it back. It had star power and more than $100 million in funding behind it.
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As always, let me know what you think of our stories at mturner@insider.com. Let’s get started.
After their exposé on the Goop exec exodus was published, Madeline and JP stopped by one of our weekly newsroom meetings to share the inside track on their reporting. Here’s what they said:
How did the story come about?
Madeline: I was tipped off that investors weren’t happy with how the company was doing during the pandemic. That’s when we started poking around on LinkedIn and realized that many executives had departed the company during the last year. As we spoke to our sources, 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 story 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 protect our sources, and that we just wanted to hear about their experiences.
How did you get such strong examples?
Madeline: If someone made 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 report that Goop management acknowledged the low pay during an all-hands meeting.
Tanium; Jeff Chiu/AP Photo; Marianne Ayala/Insider
Staffers are leaving 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 company lost major contracts in its military business.
When Tanium hired a new chief financial officer in April, the new exec was meant to lead the company to its IPO. But there have been no concrete updates on the status of the public offering.
Ozy Media is shutting down, just days after a bombshell New York Times report. Before the Friday announcement, Ozy employees told Insider there had been internal questions about the company’s stated audience and a workplace culture of burnout. One former staffer told us, “I felt like I was killing myself for very little recognition. I have never once told someone that I worked at Ozy and they’ve known what it is. Not once. That was concerning to me.”
Wall Street’s next crop of young leaders are doing it all – including shaking up investing at the largest US pension system and deploying make-or-break capital to municipal governments. The young movers and shakers hail from top tier firms like Goldman Sachs, BlackRock, and Tiger Global. Each of them shared stories about their successes, challenges, and career advice.
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