Although most famous for its investment banking business, Goldman Sachs has been looking to diversify its clientele for years. One of their forays into consumer banking is Marcus, an online loan and deposit platform catering to the middle class. Although overshadowed by their investment banking successes, Marcus has performed well for Goldman; it boasts 10 million customers and over 100 billion USD in deposits, despite a small marketing budget. They’re now planning to become their customers’ primary bank by launching digital checking accounts this year. Read full article here
Societal Issues
To curb drug deaths, communities turn to Reddit, texts and wastewater
With drug overdose deaths on the rise, authorities are attempting to curb the epidemic by tracking and sharing information in real time. In one unique effort, a nonprofit in New York City is using drug-testing equipment and stamping or marking habits of dealers to identify drug batches that may endanger users. Other approaches are also being used, such as monitoring drug-related chatter on Reddit and analyzing local wastewater for opioid and other drug levels. With the combination of these efforts, researchers hope to put a dent in the opioid crisis and reduce overdose deaths. Read full article here
Merv
June 1, 2023
