Hedge funds and journalists team up to make an odd, unsettling pair
Apr 9, 2024
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Journalists teaming up with hedge funds to investigate companies, ethical dilemmas, AI's impact on companies like Shutterstock, Jamie Dimon's insights, and the odd intersection of media investigations and insider information.
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Quick takeaways
Journalism-investing hybrid raises ethical concerns in media practices.
AI partnerships present lucrative opportunities but raise sustainability worries.
Deep dives
Hunterbrook Media's Unique Approach to Investigative Journalism and Investments
Hunterbrook Media, associated with Hunterbrook Capital, combines journalism with investing by allowing the hedge fund to review and make investments based on journalistic articles before publication. This controversial approach raises questions about ethics and conflicts of interest, as seen through the lens of its impact on United Wholesale Mortgage's stock.
Shutterstock's AI Gold Rush Partnerships
Shutterstock capitalizes on the AI Gold Rush by partnering with tech giants like Amazon, Apple, Google, Meta, and OpenAI. These partnerships involve training AI models on Shutterstock's image library, with deals ranging from $25 to $50 million. However, concerns arise about the sustainability of such partnerships as the supply of quality training data may deplete within the next two years.
Blackstone's Expansion in Real Estate and JP Morgan Chase's CEO Annual Shareholder Letter
Blackstone's aggressive acquisitions, like air communities for $10 billion, signal a significant presence in the real estate market. On the other hand, JP Morgan Chase CEO's annual shareholder letter, spanning 61 pages, covers diverse topics from DEI policies to AI, reflecting a mix of business strategy and personal views.
Last week, a new player emerged on the journalism scene with an investigative takedown of America’s largest mortgage lender. The twist: before the article went live, an affiliated hedge fund shorted that lender and invested in its top rival. Is that legal? Is that ethical? We had the same questions. Plus: Shutterstock cashes in on AI and Jamie Dimon speaks his truth. VOTE for The Hustle Newsletter in the Webby Awards!
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