Latest news with #Rotman
Toronto Star
05-07-2025
- Business
- Toronto Star
‘AI is Toronto's hidden opportunity:' Experts discuss how AI will reshape the workplace and transform Canadian industries
Three of the most influential voices in artificial intelligence say Toronto boasts a deep AI talent pool — but warn that the city must speed up innovation and scale its AI industry or risk losing its competitive edge. Avi Goldfarb, the Rotman Chair in Artificial Intelligence and Health Care, Joyce Drohan, Ontario's first Chief AI and Technology Officer, and Daniel Wigdor, co-founder and CEO of AXL, discussed how AI will reshape the workplace and the economy during a panel moderated by Toronto Star Editor-in-Chief Nicole MacIntyre at the city's Design Exchange on June 25.
CBS News
03-05-2025
- Business
- CBS News
New NYC legislation could bring back some short-term rentals. There's plenty of opposition.
In 2023, New York City's Local Law 18 all but banned short-term rentals through sites like Airbnb. Now, a new measure seeks to roll back some of those restrictions. Intro 1107 seeks to reopen the door to short-term stays in one- and two-family homes in the outer boroughs. Viewed by supporters as essential economic opportunity for the middle class, the bill has found favor with homeowners groups including RHOAR, which is backed by Airbnb. "What we really did was worked with the host community, worked with some members of City Council and said, 'Let's come up with a common-sense solution that doesn't impact the housing market, that lets regular people short-term rent their properties on an occasional basis in their primary residence,'" Airbnb director of policy strategy Nathan Rotman said. "Those are possible tenants that could be evicted" Some advocates say welcoming Airbnb back to New York City could bring devastating consequences. "Those are possible tenants that could be evicted if their landlord decides that they would rather try to bring in a short-term rental," housing advocate Whitney Hu said. As a member of Tenants Not Tourists, a coalition that includes the Legal Aid Society and Make the Road, she argues Airbnb will supercharge gentrification in vulnerable neighborhoods, where short-term rentals can turn higher profits than long-term leases. Rotman insists the bill will not displace residents. "Local Law 18 that was implemented has not lowered rent, has not created more affordability for people. What it has done is hurt those outer-borough hosts who are trying to make extra money on an occasional basis, and those are the people that we are trying to support," Rotman said. Tenants Not Tourists highlights analysis from the office of the comptroller attributing roughly 9% of the citywide rent increase between 2009 and 2016 to Airbnb. Each side in the debate is scrutinizing the other's affiliations and underlying agendas. "The reality is a lot of these housing organizations are being funded by the hotel union to be having this fight," Rotman said. Tenants Not Tourists points to the millions in donations from Airbnb to New York political candidates while it defends its own alignment with the Hotel Trades Council, a group they say has a track record of defying the hotel industry. "We are tried and true housing advocates who have been on the front lines for a very long time," Hu said. "We're here because it's an effective coalition that's moving forward to try to protect tenants." Homeownership was Daniel Cutler's lifelong dream. "Every dime I earned I saved. I worked so hard to get to that point," he said. But after getting the keys to his two-bedroom in Rockaway Beach, he lost his job in real estate, bringing him to the brink of foreclosure. "I try not to think about it because it's really sad," he said. He believes short-term rental through a site like Airbnb would help keep him in his home. "We've all become victims of the cost of living" Assemblymember and mayoral candidate Zohran Mamdani says that in a housing crisis, New York City can't afford more Airbnbs. "That's nearly 14 percent of all rental units that could be taken from our housing stock and turned into Airbnbs," he said. "What we need to do is create more housing." So where does the bill stand now? "Introduction 1107 is currently going through the legislative process which is deliberative and allows for thorough public engagement and input," a spokesperson for the New York City Council told CBS News New York. City council members on both sides of the divisive issue declined CBS News New York's interview requests. House Speaker and mayoral candidate Adrienne Adams, who was a co-sponsor before withdrawing her support for the bill this week, did not reply to requests for comment. Amid the debate, Hu sees common ground for homeowners and renters. "We've all become victims of the cost of living going up too high, and I think it's often taken out at each other versus wider systemic issues," Hu said. Cutler hopes the perspectives of struggling homeowners will not be overshadowed. "The cost of utilities have gone up considerably for me with heating and gas bills and everything," he said. "I just think there's a lot of people in my situation." You can email Elle with Queens story ideas by CLICKING HERE.
Yahoo
28-03-2025
- Business
- Yahoo
Fintech VC powerhouse Frank Rotman stepping down from QED Investors to found his own startups
Prolific fintech investor and QED Investors co-founder Frank Rotman said Friday that he will transition to a partner emeritus role by year's end to focus on founding his own startups. But those startups won't necessarily be financial technology companies. In a post on X, Rotman – who helped start QED in 2007 – declared that 'the first business' that he plans 'on getting out of the ground is in the music industry.' He wrote: 'It's easy to call me crazy for all the obvious reasons, but it's worth reserving judgment until you learn more about the business that's evolved in my head and sat on the shelf for years. It will be fun to build and could actually make a huge difference to an industry that none of us could imagine living without.' Rotman started Alexandria, Virginia-based QED, which today has $4 billion in assets under management nearly two decades ago with Nigel Morris and Caribou Honig. He led the firm's investment in Credit Karma and played a role in QED's investments in unicorns such as Greensky, Flywire and SoFi. (In fact, QED was the first institutional money into Credit Karma). Other companies that the firm has backed include Creditas, Nubank, AvidXchange and Bitso. QED exclusively invests in companies building financial technology at the pre-seed to Series A stages. Rotman, who goes by the handle 'The Fintech Junkie' on X, said he will transition to his new role on January 1, 2026. He will continue to serve in a part-time advisory role to QED over the coming years. Besides founding music startups, Rotman said he likely plans to write a book centered around his 'observations and frameworks for the startup and VC worlds.' He wrote in the X post: 'This shouldn't surprise anyone who knows me – writing is my oxygen. I can't imagine a life without it even though ChatGPT and Claude are better writers than I am.' In a statement, QED Managing Partner Nigel Morris noted that he and Rotman had worked together for over 30 years - previously also at Capital One. 'Frank, at his core, is an entrepreneur and I have no doubt he will excel in his next chapter,' he said. QED Investors' Partner Amias Gerety will be promoted to lead QED's U.S. investment team.
Associated Press
28-03-2025
- Business
- Associated Press
QED Investors Co-Founder Frank Rotman to Transition to Partner Emeritus at the End of the Year
Leading global fintech venture capital firm QED Investors announced today that co-founder Frank Rotman will transition to a Partner Emeritus role at the end of the year to focus on founding his own startups. Rotman joined Managing Partner Nigel Morris to co-found QED with Caribou Honig in 2007. Rotman will transition to Partner Emeritus status and play a part-time advisory role over the coming years. Named to Forbes magazine's Midas List of the top 100 investors every year since 2018, Rotman led QED's investment in Credit Karma and played an important role in the company's investments in successful fintech unicorns including Greensky, Flywire and SoFi. 'It is a bittersweet moment for me because Frank and I have worked together for more than 30 years,' said Morris. 'Frank, at his core, is an entrepreneur and I have no doubt he will excel in his next chapter. We are excited for him on a personal level and so very glad that we will continue to be able to call upon him for wisdom and guidance in his role as Partner Emeritus for years to come.' With Rotman's transition, QED Investors' Partner Amias Gerety will be promoted to lead the U.S. investment team. Gerety, who joined QED in 2017, will join the Executive Committee and participate as an observer on the Investment Committee. He will report to Bill Cilluffo, who will resume his duties overseeing all of QED's early stage investments. Mike Packer, Partner, Head of LatAm, will also join the Executive Committee and participate as an observer on the Investment Committee. 'We are able to absorb Frank's departure because we have built a world-class team at QED that can adapt and flourish in the light of change,' said Morris. QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners' decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth. Notable investments include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer. SOURCE: QED Investors Copyright Business Wire 2025. PUB: 03/28/2025 02:00 PM/DISC: 03/28/2025 02:00 PM
Yahoo
28-03-2025
- Business
- Yahoo
QED Investors Co-Founder Frank Rotman to Transition to Partner Emeritus at the End of the Year
ALEXANDRIA, Va., March 28, 2025--(BUSINESS WIRE)--Leading global fintech venture capital firm QED Investors announced today that co-founder Frank Rotman will transition to a Partner Emeritus role at the end of the year to focus on founding his own startups. Rotman joined Managing Partner Nigel Morris to co-found QED with Caribou Honig in 2007. Rotman will transition to Partner Emeritus status and play a part-time advisory role over the coming years. Named to Forbes magazine's Midas List of the top 100 investors every year since 2018, Rotman led QED's investment in Credit Karma and played an important role in the company's investments in successful fintech unicorns including Greensky, Flywire and SoFi. "It is a bittersweet moment for me because Frank and I have worked together for more than 30 years," said Morris. "Frank, at his core, is an entrepreneur and I have no doubt he will excel in his next chapter. We are excited for him on a personal level and so very glad that we will continue to be able to call upon him for wisdom and guidance in his role as Partner Emeritus for years to come." With Rotman's transition, QED Investors' Partner Amias Gerety will be promoted to lead the U.S. investment team. Gerety, who joined QED in 2017, will join the Executive Committee and participate as an observer on the Investment Committee. He will report to Bill Cilluffo, who will resume his duties overseeing all of QED's early stage investments. Mike Packer, Partner, Head of LatAm, will also join the Executive Committee and participate as an observer on the Investment Committee. "We are able to absorb Frank's departure because we have built a world-class team at QED that can adapt and flourish in the light of change," said Morris. About QED Investors QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners' decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth. Notable investments include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer. View source version on Contacts Ashley MarshallDirector, PR and CommunicationsQED Investorsashley@ (518) 577-9984 Sign in to access your portfolio
