Peter Rudegeair Profile
Peter Rudegeair

@rudegeair

6,487
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450
Following
69
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4,665
Statuses

Wall Street Journal reporter covering hedge funds and investing.

New York
Joined July 2009
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@rudegeair
Peter Rudegeair
2 years
A startup had a vision for anti-woke banking (credit cards made from shell casing material, discounted insurance for gun owners) Then came the allegations of on-the-job drinking, investor unrest & lawsuits From @RachelEnsignWSJ , me & @AAndriotis
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@rudegeair
Peter Rudegeair
5 months
. @RonanFarrow highlighted Evan Gershkovich’s unjust imprisonment at an event last night with YLS dean @GerkenHeather That’s a #FreeEvan pin reflecting off his lapel
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@rudegeair
Peter Rudegeair
10 months
Some personal news
@talkingbiznews
Talking Biz News
10 months
. @rudegeair to cover hedge funds for @WSJ :
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@rudegeair
Peter Rudegeair
6 years
After almost 4 years at @WSJ I've written my first a-hed: Credit score fanatics in the "800 Club" compete for top FICO scores. Not for better interest rates, but for bragging rights. “They’re obsessed" w/ @AAndriotis
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@rudegeair
Peter Rudegeair
3 years
From Cleveland to California, from Candy Crush to Cash App: how @Square CFO @AmritaAhuja got to where she is today, w/ a little help from @jack & 3 other mentors
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@rudegeair
Peter Rudegeair
3 years
Stripe is an index of global ecommerce, & that index thrived in 2020. Revenue rose ~70% to $7.4B. 500K+ new customers opened accounts. Other startups might have flashier apps, but @stripe (worth $95B) shows it's better to be a workhorse than a show pony
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@rudegeair
Peter Rudegeair
6 years
What would it look like if a tech giant were to jump into the banking business? A lot like what @Square has done with its lending business
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@rudegeair
Peter Rudegeair
5 years
Cash App rules everything around me: @Square 's mobile payments service has found an ardent fan club in the tastemakers of hip-hop
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@rudegeair
Peter Rudegeair
5 years
So @Square : -is applying to open a bank -has lent >$5b to small businesses -processed >$50b in card payments YTD -operates a money-transfer service w/ 15m active users But is litigating San Francisco's claim it's a financial company to save $$ on taxes
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@rudegeair
Peter Rudegeair
11 years
For Elmore Leonard novices who want to dive into his work, @TheAVClub put out this handy gateway to geekery in 2011 http://t.co/unFDlMUXEZ
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@rudegeair
Peter Rudegeair
4 years
No one has marshaled the twin forces reshaping Wall Street —the SPAC boom that has raised billions & the retail-trading surge that has humbled hedge funds—quite like @chamath . Let @maureenmfarrell & I introduce you to the market influencer of the moment
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@rudegeair
Peter Rudegeair
7 years
Big banks are finally pulling the trigger on #fintech M&A: @Chase agrees to buy payments startup @WePay
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@rudegeair
Peter Rudegeair
5 years
When I got my 1st job at @Reuters , I was lucky enough to sit near Paul Ingrassia's office. Paul treated me as a peer even though he was a Pulitzer winner & I was the low man on the totem pole. RIP to a great reporter, editor, & leader
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@rudegeair
Peter Rudegeair
1 year
Tfw your career choice gets roasted in the alumni mag
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@rudegeair
Peter Rudegeair
7 years
Wells Fargo taps @blendlabsinc for digital mortgage apps: "I’ve never chosen a startup for a project of this size"
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@rudegeair
Peter Rudegeair
6 years
Ex-Fannie Mae CEO Tim Mayopoulos joins mortgage startup @blendlabsinc , making him 1 of the highest-profile execs to jump into fintech
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@rudegeair
Peter Rudegeair
5 years
. @Stripe is now worth $35 billion, climbing closer to the top ranks of the highest-priced U.S. startups
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@rudegeair
Peter Rudegeair
5 years
Eager not to miss out on the next @stripe or @Adyen , investors just valued @Checkout , a little-known startup which had never before raised outside money, at nearly ~$2B
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@rudegeair
Peter Rudegeair
9 years
Some personal news: After nearly 5 great years, I've left @Reuters . Today is my first day as a banking reporter at the @WSJ
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@rudegeair
Peter Rudegeair
13 years
There are more Porsche Cayennes (price tag: €60,000) in Greece than taxpayers with incomes of more than €50,000 http://t.co/2y1azaGu
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@rudegeair
Peter Rudegeair
6 years
2 of the most valuable fintech startups teaming up: @SoFi working w/ @coinbase to let its members buy and sell bitcoin & other cryptocurrencies, says CEO @anthonynoto at #WSJDLIVE
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@rudegeair
Peter Rudegeair
7 years
Old and busted: online lenders that consolidate debt New hotness: online lenders that finance retail purchases . @Affirm raises $200m round at a nearly $2B valuation
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@rudegeair
Peter Rudegeair
9 months
Today marks 250 days since @evangershkovich was detained in Russia for doing his job as a journalist. It's time to bring Evan home #IStandWithEvan
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@rudegeair
Peter Rudegeair
7 years
Investors ❤️ @PayPal , now worth more than @AmericanExpress & almost as much as @MorganStanley 📈📈📈
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@rudegeair
Peter Rudegeair
7 years
Dealmaking heating up in the online-lending world: @Navient to buy @MeetEarnest for $155 million in cash
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@rudegeair
Peter Rudegeair
5 years
. @Square sends millions of digital receipts, sometimes to the wrong person. From surprise gifts to pending divorces, the misdirected emails and texts result in spilled secrets
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@rudegeair
Peter Rudegeair
3 years
. @Chime is now valued at ~$25B. That's grown more than 10x in just 2.5 years and makes the banking startup worth more than most regional banks. An IPO could come in 2022.
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@rudegeair
Peter Rudegeair
9 years
The only #fintech business model that's been a proven success is "giving customers a worse service for a lower price" http://t.co/NfwHWWIGFs
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@rudegeair
Peter Rudegeair
10 years
Wells Fargo releases two new credit cards aimed at high spenders http://t.co/CXKAzkle01 $WFC
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@rudegeair
Peter Rudegeair
5 years
Computers are buying 1000s of houses around the country. They learned how in Phoenix. @RyanDezember & I explore how the Arizona capital become the proving ground for experiments in residential real estate
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@rudegeair
Peter Rudegeair
1 year
Day 50 of @evangershkovich 's unjust detention in Russia. Our friend and colleague should be released immediately #IStandwithEvan
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@rudegeair
Peter Rudegeair
3 years
Today @icecube sued @RobinhoodApp for using his image in a @RobinhoodSnacks newsletter, and the complaint is 🔥: “Robinhood is the antithesis of everything that Ice Cube stands for”
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@rudegeair
Peter Rudegeair
9 years
A little-noticed ruling from an NY appeals court "poses an acute risk for the marketplace lending industry" http://t.co/Haqk9pStdI #fintech
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@rudegeair
Peter Rudegeair
12 years
"This market is going to reward philosophers over students of business" http://t.co/kIuVDsuM WHOSE DEGREE IS WORTHLESS NOW, WHARTON KIDS?
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@rudegeair
Peter Rudegeair
11 months
Dan Loeb's Hot Hand Goes Cold Losses at Third Point are leading to a flood of investor withdrawals. Strategies that once produced big gains (activism, shorting, VC) haven't helped lately. w/ @GZuckerman & @CaraRLombardo
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@rudegeair
Peter Rudegeair
7 years
Tired: putting ~1/3 of your hedge fund's money into bitcoin Wired: putting ~1/2 of your hedge fund's money into bitcoin $BTC
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@rudegeair
Peter Rudegeair
5 years
I get considerably fewer press releases in my inbox when banking startups cut the yields on their savings accounts vs raising them
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@rudegeair
Peter Rudegeair
3 months
The Hottest Investment for Hedge Funds Is Other Hedge Funds Big firms like Millennium are so flush with cash they're outsourcing it to other firms
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@rudegeair
Peter Rudegeair
8 years
LendUp, aka "Capital Two," raised ~$50mln to roll out a subprime credit card to compete with Capital One
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@rudegeair
Peter Rudegeair
3 years
~300K @RobinhoodApp users bought $HOOD at the IPO price Small % of its 22.5 million user base but ~4x as many participants as the next most popular listing on its IPO Access platform (~78K bought into $FXLV)
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@rudegeair
Peter Rudegeair
9 years
Credit Karma is the latest #fintech firm to announce a huge fundraising http://t.co/V0MqdHGOG2 Now valued at $3.5 billion
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@rudegeair
Peter Rudegeair
7 years
A tax-reform plea from #fintech : make the IRS set up an API that can serve up tax-return data to lenders
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@rudegeair
Peter Rudegeair
8 years
SoFi is looking to raise ~$500 mln to expand internationally & branch out beyond lending to just "great people"
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@rudegeair
Peter Rudegeair
7 years
Just setting up my bnkr: @jack & @Square to apply for a license today to open a bank in Utah
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@rudegeair
Peter Rudegeair
6 years
Silver Lake buys $500m stake in @creditkarma in a secondary sale valuing the #fintech firm at ~$4 billion
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@rudegeair
Peter Rudegeair
7 years
. @LendingClub closes chapter on #fintech funds, sells loan portfolios it managed for $376mm
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@rudegeair
Peter Rudegeair
7 years
Even grandma wants in on the #bitcoin action. "I didn’t even know what it was, a piece of coin?" said 70-year-old Rita Scott, who looked up $BTC prices between hands of poker at a Vegas casino
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@rudegeair
Peter Rudegeair
2 years
Last week, @RachelEnsignWSJ , @AAndriotis & I wrote about a turbulent start for @glorifi , an anti-woke banking startup facing allegations of on-the-job drinking, investor unrest & lawsuits. Yesterday, the CEO told employees he was resigning.
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@rudegeair
Peter Rudegeair
9 years
Dimon says JPMorgan plans service with peer-to-peer lender #fintech
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@rudegeair
Peter Rudegeair
2 years
A fintech founder buying a bricks-and-mortar bank might sound as congruous as an Uber exec hailing a cab w/ an outstretched arm. Read why @Plaid 's @williamhockey spent $50M on @columnbank & how the sorry state of banks' tech is holding back innovation
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@rudegeair
Peter Rudegeair
7 years
Favorite new ICO is SMG Cash: -19 year-old New Zealand kid looks to raise $220mln for his website -inflates web traffic by factor of 10,000 -tells reporter "It's not [true] that we're bullshitting" -NZ regulator discourages people from investing
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@rudegeair
Peter Rudegeair
6 years
Also my score is 806 don't @ me
@rudegeair
Peter Rudegeair
6 years
After almost 4 years at @WSJ I've written my first a-hed: Credit score fanatics in the "800 Club" compete for top FICO scores. Not for better interest rates, but for bragging rights. “They’re obsessed" w/ @AAndriotis
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@rudegeair
Peter Rudegeair
13 years
Amount of state assets Greece promised to privatize: $65 billion. Amount of state assets Greece has actually privatized: $2 billion
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@rudegeair
Peter Rudegeair
8 years
Credit-card fraud keeps rising, despite new security chips 15.4 million ID fraud victims in 2016
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@rudegeair
Peter Rudegeair
9 years
Actors of "The Big Short" talk about the debt crisis, in Beverly Hills
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@rudegeair
Peter Rudegeair
6 years
. @coinbase has attracted ~$100m to its new custodian service that caters to professional investors. "it's getting harder and harder to find a crypto bear," @brian_armstrong says at #WSJDLive
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@rudegeair
Peter Rudegeair
6 years
Meet the 22-year-old Stanford dropouts who rode credit cards into the billion-dollar startup club
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@rudegeair
Peter Rudegeair
5 years
Shoutout to @Apple / @GoldmanSachs for the early invite for their new credit card, though they did mess up the place where I bought an iced tea the 1st time I used it
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@rudegeair
Peter Rudegeair
8 years
Online lending went from peer-to-peer to peer-to-hedge-fund & now to peer-to-a-fund-whose-investors-are-peers
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@rudegeair
Peter Rudegeair
8 years
. @SoFi breaks into digital bank accounts and debit cards with ~$100 mln deal for @Zenbanx
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@rudegeair
Peter Rudegeair
9 years
Payoff, a #fintech firm that applies the science behind online dating to personal finance, just raised a lot of debt http://t.co/ZwnrBhiYKC
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@rudegeair
Peter Rudegeair
5 years
. @WeWork 's problems are Jamie Dimon's problems. @jpmorgan : -is one of WeWork's largest lenders -manages funds that are collectively WeWork's 3rd largest shareholder -is on the hook for $100m+ in loans to Adam Neumann
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@rudegeair
Peter Rudegeair
8 years
Steve Cohen hops on #fintech bandwagon: Point72 starts venture unit to fund financial technology
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@rudegeair
Peter Rudegeair
9 years
My first @WSJ byline: Wells Fargo corporate banking chief Mike Johnson to retire http://t.co/4nwuAF3AHE $WFC
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@rudegeair
Peter Rudegeair
3 years
2019: Facebook seeks up to $1B for a novel cryptocurrency to upend banking & payments: 2022: Facebook's crypto venture is selling its tech to a bank for ~$200M
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@rudegeair
Peter Rudegeair
3 years
Robinhood wants you to buy Robinhood on Robinhood @RobinhoodApp is allocating up to 35% of its IPO shares to its own users, the biggest test yet of a movement to get more retail participation in public offerings
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@rudegeair
Peter Rudegeair
6 years
. @Wealthfront made its name on providing simple, low-cost index funds to investors. Now, it's automatically putting 20% of their $$ into a portfolio of derivatives
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@rudegeair
Peter Rudegeair
1 year
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@rudegeair
Peter Rudegeair
2 years
From the how-things-change dept.: 5 years ago this week, @lizrhoffman & I wrote this story: "Goldman Sachs, Adviser to the Elite, Wants to Be Your Local Bank" Welp, not anymore!
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@rudegeair
Peter Rudegeair
9 years
Startups like @SoFi & @Avant_US give FICO low scores: "Our premise was to engineer a better analytical model"
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@rudegeair
Peter Rudegeair
1 year
Five months have gone by since @evangershkovich was detained in Russia for doing his job. #FreeEvan
@WSJ
The Wall Street Journal
1 year
Evan Gershkovich’s parents visited The Wall Street Journal newsroom today to meet with staff and stand with Evan
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@rudegeair
Peter Rudegeair
8 years
Latest bond deal from @SoFi is 1st by a startup online lender to receive a AAA rating from Moody’s
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@rudegeair
Peter Rudegeair
10 years
Most days @LaurenLaCapra and I write about fixed-income trading and bank capital, so this was a nice change of pace http://t.co/gSoyleOs04
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@rudegeair
Peter Rudegeair
8 years
VCs are using the online lenders' playbook to go after the life-insurance industry
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@rudegeair
Peter Rudegeair
3 years
New: Meme-stock mania powered @RobinhoodApp 's business to new heights in the 1st 3 months of 2021, with its biggest source of revenue more than tripling to $331M
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@rudegeair
Peter Rudegeair
4 years
Few stories I've written have generated as much reader email as the ones about @Venmo threatening to send debt collectors after victims of scams Now, @CFPB is looking into their practices
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@rudegeair
Peter Rudegeair
3 years
. @RobinhoodApp 's 1st earnings report post IPO: -$565 M in revenue (⬆️>2x) -~1/4 of that was from $DOGE -more $$ from crypto than stocks + options -$31 M in interest income on $5.4 B in margin loans -$19 M in fraud losses on debit cards (⬆️21x)
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@rudegeair
Peter Rudegeair
6 years
It's going to cost @Visa , @Mastercard & big banks ~$6.5B to settle claims they colluded to charge businesses inflated fees to accept credit cards
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@rudegeair
Peter Rudegeair
9 years
Prominent #fintech VCs at @money2020 seeing overvaluation everywhere they look. They just aren’t worried about it.
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@rudegeair
Peter Rudegeair
6 years
The latest Wells Fargo scandal: jr investment bankers are being fired/suspended over allegedly expensing dinner deliveries too early & covering it up w/ @EmilyGlazerWSJ & @coulterjones #seamlessgate
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@rudegeair
Peter Rudegeair
8 years
Sweden's Klarna, one of Europe's most valuable #fintech startups, is rolling out loans for U.S. online shoppers
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@rudegeair
Peter Rudegeair
6 years
I interviewed @Dan_Schulman about @PayPal 's efforts to combat hate speech & learned: -up to 100 users a month get booted off PayPal for promoting hate -PayPal got more active here after the Charlottesville rally -Dan got involved in banning Infowars
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@rudegeair
Peter Rudegeair
13 years
Didn't understand debt-ceiling debate until I saw this Taiwanese animation: http://t.co/jgKWNPA
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@rudegeair
Peter Rudegeair
5 years
@CollegeGameDay This story just got VERY 2019: - @AnheuserBusch gives kid free beer after he went viral -local reporter digs up racist tweets kid sent when he was 16 - @AnheuserBusch cuts all ties -local reporter outed for sending his own racist tweets yrs ago
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@rudegeair
Peter Rudegeair
9 years
Bold-faced Wall Street names back loan data startup PeerIQ http://t.co/MJhuFUuMqc
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@rudegeair
Peter Rudegeair
7 years
A startup has raised $700 mln through sales of a new cryptocurrency called EOS that it describes as having "no purpose"
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@rudegeair
Peter Rudegeair
7 years
Even NYC street musicians take @venmo : "Almost every day... I’ll look at my phone and see that people have donated"
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