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In the loop: Rapper Jay-Z launches VC fund, Musk accused of stealing artwork while drones are soaring high on an investor’s list

Written by Varsha Saraogi on Friday, 29 June 2018. Posted in Insight, Analysis

While you’re basking in the sweltering English summer with pitchers of Pimms we look into how UK startups can be candidates for funding from Jay-Z. Also, we explain how the Tesla founder got accused of theft

In the loop: Rapper Jay-Z launches VC fund, Musk accused of stealing artwork while drones are soaring high on an investor’s list

Jay-Z launches a venture capital fund

More musicians are now turning into entrepreneurs. Whether it was rapper Pharrell Williams who invested in London musical instrument startup Roli or One Direction singer Harry Styles who invested in a meditation app Calm, business for the performers seems to go beyond the stage. 


Rapper Shawn Carter, most commonly known as Jay-Z, is no stranger to the startup game, having previously acquired the Norwegian music-streaming platform Tidal. Now he’s upping the game by launching a VC fund with Walden Venture Capital. The new fund will be called Marcy Venture Partners, named after his childhood home in Marcey Houses in Brooklyn, New York. Seems like a new album was not the only surprise from the singer.

Given Jay-Z’s previous interest in European startups, before, there is a good chance he’ll  consider the British Isles for his next venture. So get your deck in order because at least then you may have 99 problems but a pitch ain’t one.

Musk accused of stealing farting unicorn artwork

There have been plenty of allegations of intellectual copyright infringement surrounding big companies for years. However, while Uber and Waymo may have ducked it out over self-driving car technology, Tesla has found itself in the precarious position of having to protect itself against allegations of stealing a picture of a farting unicorn.

The story began last year when Tesla CEO Elon Musk liked a picture of a mug of a farting unicorn. While the artist Tom Edwards may have like the picture, he’s now said he was shocked to see his art being used for Tesla’s new sketch pad feature without the car manufacturer giving him any credit. When the artist,asked for his due credit, Musk replied that he should be grateful for the attention in a tweet to his daughter — which has now been deleted.

This isn’t the only way Musk has grabbed the headlines in a bad way recently. Over the past few months stories about 9% job cuts, autopilot crashes and whistleblowers have caused Musk many headaches.

Unless he can turn the public around, the fantasy creature on the mug may not be the only unicorn blowing hot air.

Brits resign quicker for better jobs

Gone are the days where people spent their entire lives in one company. And it seems as if aren’t afraid of swapping employers more often if they think it can help their careers.

That’s according to new research from research from CV Library, the online job site. Having surveyed 1,200 workers, the researchers found that more than half thought staying in the same job for too long could hamper their career prospects. In fact, 44.8% thought workers should move on after five years in the company. Luckily for employers, all isn’t lost as 56% would consider a counter-offer from the employer.

So if you’re noticing that your employees may be looking to escape the nest, then at least you can find solace in the knowledge that they could stay if you pay up. 


Investors prefer drones and robots in AI sector

From automating daily chores to boosting big data processing, technology drives most industries today. So it’s hardly surprising that investors are pouring in more capital in innovating startups. However, not all sectors are equally interesting for investors.

Research from UK Business Angels Association (UKBAA), the investment trade body, have looked into what the biggest investment trends are in the UK. Having surveyed 1,206 investors, they found that 42% considered injecting cash into drone technology, making it the most popular technology to invest in. Artificial intelligence came, with 40% stating an interest in the sector. The third most popular sector was back data driven retail like of Amazon Go, which 39% were interested in.

Commenting on the new tech pattern, Jenny Tooth, CEO of the UKBAA, said: “Huge range of innovative technologies, products and services [are] being developed here in the UK; and demonstrates a strong capacity for scale and market disruption.”

If you’re thinking of a new startup, do ensure it’s tech-driven to get more investment.

Brexit makes businesses slash half their investment

Looking at how Airbus and BMW issued warnings to pull out operations in the UK without a deal with Brussels, investors too have reduced business in the country.

Why investors look at startups with a social impact

According to Johnny Hon of The Global Group, investing in tech companies with a social impact is a great idea.

Top ten CEOs revealed

After a voluntary employee based survey, Glassdoor, released the list of the best bosses in business. Check out our list of the ten best ones in Britain.

Job seekers want modern ways of recruitment

Unlike the conventional one-to-one interviews, potential employees today prefer speed dating and escape rooms as ways to assess their skills.

TfL drives back licence for Uber

As TfL pulled brakes on Uber last September by pulling their licence in to operate in London. But after appealing its case, the scaleup has reclaimed its rights after pushing to reform the company.


Let’s talk about shopping

More consumers seems interested in buying stuff with the help of Amazon Echo or Google Home than ever before.

About the Author

Varsha Saraogi

Varsha Saraogi

As junior feature writer and a recent MA Journalism graduate, Varsha has joined the Elite team to fuel her passion. Along with being immersed in the money making sector and ranting about women’s rights, she will be hunting for news about everything business related. And burying her head in economic magazines. Follow her on twitter at @msvarshasaraogi for her mundane musings.

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