New business development puts a twinkle in our Wharton-adjacent eye. So we were jazzed to read in Curbed Philly that a big VENTURE CAPITALIST firm is headed to the former bowling alley and current Keswick cycle building at 40th and Locust. The firm, called First Round Capital, is moving into University City from Conshohocken (which is crazy cuz why would anyone leave Conshohocken?!) and will set up shop in September. We wish them the best of luck doing all those things that venture capitalists obviously do!
According to Curbed, Mayor Nutter has called the impending arrival of First Round Capital “a game-changer,” probably because the cool-cat capitalists will be moving in next door to the new ramen bar and money and Japanese food are two of the MOST delicious things out there.
Break out the seersucker and lobster pants. Pop those collars. Tie those sweaters around your necks. Sansom’s 3400 block is getting an oyster house! Specifically, Doc Magrogan’s Oyster House is opening in the former location of La Terrasse, as Philly.com reports. The university-owned property has been dark for almost a year since the beloved LaT closed after 15 years of revolving operators.
Rumors swirled about a possible revival of the staple French bistro, but it has now been confirmed that former chiropractor Dave Magrogran has leased the space to open a branch of Doc Magrogan’s Oyster House. Looks like a pearl of a place.
…and another restaurant bites the dust. In today’s devastating local business news, Philly.com has confirmed that MidAtlantic, Daniel Stern’s 37th and Market restaurant, will be closing its doors on February 24. Luckily, Stern’s other joint, R2L (on 16th), is still open for business. Rumors are swirling amongst the foodie community that an employee of famed chef Steven Starr toured the space, so hopefully we won’t be lacking a major Family Weekend eatery for too long.
On Thursday, Wharton ’08 grads sold their startup company Invite Media to Google for 70 million dolla bills. Yup, $70,000,000. Zach Weinberg and Nat Turner developed their online advertising technology business while at Penn.
The job market! It’s pretty awful out there–but maybe not as bad as last year? According to an article in Tuesday’s New York Times biz section, “This spring’s college graduates face better job prospects than the dismal environment encountered by last year’s grads.”
And when you’re a newspaper looking for a handsome, hired business grad, where do you go? Why, Wharton, of course!
The article profiles Andrew Stern(who looks pretty cute in the photo! Call us! Wink!), a ’10 Wharton grad who’s been “snatched up” by financial services firm Deloitte. Stern, who concentrated in “organizational effectiveness” (hmmm), said good ol’ Huntmsan Hall was gloomy after the Lehman Brothers collapse in 2008, but that Whartonites are starting to see green again. Read the rest of this entry »
As bloggers (and Tweeters!) and people who hope to one day be employed, we will most definitely be checking out a talk about “New Media’s Impact on Non-Political Journalism” tonight, given by New York Times columnist David Carr. You should too, because new media is exciting, there will be free food, and most importantly, this guy is really awesome! We’ll let the press release prove it:
David Carr writes a column for the Monday Business section of The New York Times which focuses on media issues including print, digital, film, radio and television. He also writes for the Media Decoder blog, a showcase for The Times’s extensive media coverage and a window on how the business of connecting with consumers is changing in the digital age. During awards season he writes a daily blog called The Carpetbagger about the Oscars. In addition, he appears in weekly videos that put a New York spin on the red carpet season.
The event will take place at 7 p.m. in the Terrace Room of Claudia Cohen Hall. If you’re not convinced that this is worth your time, read some of his writing! We’re partial to “Me and My Girls.”
Things NOT to do with your Wharton degree: execute the biggest fraud ever. Like, literally, in the history of the world.
Bernie Madoff, who looks to us like a nice, old Jewish guy, has been arrested by the FBI for allegedly running a $50 million Ponzi scheme, which involves using money from new investors to pay old investors absurd dividends. For much of his career, Madoff has been perpetuating this cycle. And now–here’s the really fun part!–his sons have tipped off the SEC and FBI about Daddy Madoff’s wrongdoings.
Since UTB is a few steps ahead of, basically, everything, we figured we’d inform our loyal readers of this craziness before it showed up on every major news outlet. Here’s to consumer confidence reaching all-time lows…