Eli Lilly(LLY +4.72%), as a pharmaceutical stock, may be seen as a source of safety for investors — patients need their medicines, and this provides a certain level of revenue stability regardless of the economic backdrop. But in recent times, this company has also become a growth player thanks to its leadership in a space generating high demand: the weight loss drug market.
Lilly, the seller of blockbuster GLP-1 drugs, has seen revenue take off, and that has prompted both cautious and more aggressive investors to pile into the stock. The company has seen its stock advance more than 300% over five years, and in recent months, it reached record levels, trading above $1,200.
Today, with a stock price of more than $1,160, could a stock split be next on the company’s agenda? Let’s find out.
Image source: Getty Images.
What are stock splits?
So, first, let’s talk about stock splits. What are they, and why are they done? Companies generally launch stock splits after their shares have had a really good run — or while the stock is soaring. These operations involve offering current holders additional shares, and this mechanically brings down the price of each individual share.
The final price is determined by the ratio of the split, so, for example, in a 10-for-1 split, a stock that was originally $1,000 would be $100 post-split. And an investor who originally held one share valued at $1,000 would then hold 10 shares with the same total value.
The logic behind such an operation is simple: A stock split makes it easier for a broader range of investors to get in on the stock. Some investors don’t have access to fractional shares, which allow the purchase of part of a stock. In other cases, investors may not want to invest $1,000 in a company but are happy to invest a couple of hundred dollars. Finally, for some investors, the level of $1,000 represents a psychological barrier, and they see the stock as expensive even if valuation suggests otherwise. A stock split opens the investment opportunity up to all of these investors.
LLY – Eli Lilly
$1,265.81+$57.07 (+4.72%)
NYSE · As of 1:19 PM ET 10/15/26
Now, let’s consider Eli Lilly. The company sells a wide variety of drugs across treatment areas, but its star products in recent years have been in the area of GLP-1. These drugs act on hormonal pathways involved in digestion and have safely helped many worldwide shed pounds. Demand is high, and this has translated into billions of dollars in revenue for the company’s Mounjaro and Zepbound.
Lilly competes with Novo Nordisk, the maker of Ozempic and Wegovy, in the space, but is the market leader with 60% share in the U.S.
Addressing a growing, billion-dollar market
All of this has generated a lot of excitement around Lilly stock, particularly considering that the GLP-1 story may continue to drive growth well into the future. The market is expected to reach nearly $100 billion by the end of the decade.
So, it’s not surprising that Lilly shares have advanced. Now, the question is: Will Lilly launch a stock split around today’s levels?
The company completed four stock splits in the past, which could show that it favors such moves. But the most recent one was nearly 30 years ago, so the company’s stock split history isn’t relevant to its strategy today.
Lilly stock has climbed in recent years, but early this year it declined, and if that had continued, I would have said a split wasn’t likely. Over the past six months, though, momentum has returned, with the stock advancing 25% over that period. This coincides with Lilly’s launch of a new weight loss drug, GLP-1 pill Foundayo, and could usher in a new period of gains.
Against this backdrop, it’s very possible that Lilly may be one of the next market giants to announce a stock split.
It’s important to keep in mind that splits don’t change anything fundamental about a stock, so they aren’t a reason to buy or sell. This means, unless the price tag is holding you back for the reasons I mentioned above, you don’t have to wait for such an operation to get in on this exciting pharmaceutical stock.
You don’t need another 20 years to fix your finances. You need 3–5 brutally focused years.
This video explains how adults over 40 can compress decades of missed progress into a short, disciplined window — using aggressive investing, income expansion, and strict capital control.
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Chapters
00:00 – Why Aggressive Investing After 40 Is No Longer Optional
01:01 – The Brutal Retirement Truth That Forced This Plan
01:52 – Why Slow Investing Fails After 40
02:41 – Aggressive Investing Is the Only Hope
03:26 – Confronting the Financial Errors of the Past
04:13 – The Hidden Habits That Capped Your Wealth
04:52 – Why Money Without Structure Disappears
05:39 – Capital Cannibalization: The Silent Killer
06:30 – Why You Can’t Retire Without Financial Markets
07:26 – Social Pressure, Flex Culture, and Costly Comparisons
08:57 – Earning Money vs Building Wealth
09:51 – The 3 Forces That Actually Grow Wealth
10:39 – Why You No Longer Have Time to Invest Gently
11:33 – The Fear of Becoming Financially Dependent
12:20 – Concentrating Money: The Sunlight Analogy
13:19 – Compressing Time to Recover Lost Years
14:05 – Discipline and Consistency Beat Talent
15:03 – Wealth Grows With Consciousness, Not Time
15:58 – Separating Survival Money From Investment Money
16:43 – Emotional Detachment Is Non-Negotiable
17:42 – The 5-Step Aggressive Catch-Up Framework
18:37 – Declaring a 36–60 Month War Period
19:30 – Why Image and Comfort Must Be Sacrificed
20:08 – Choosing an Impossible Portfolio Target
21:33 – Freeing Capital Fast and Ending Black Tax
22:27 – Lifestyle Cuts That Unlock Investment Capital
23:19 – Ending Financial Leakage Permanently
24:07 – Expanding Income Aggressively
24:56 – Weekly Investing Discipline That Changes Everything
25:56 – Why Small, Daily Investments Win
26:50 – When Hunger to Invest Rises, Money Appears
27:47 – Health: The Final Non-Negotiable Asset
28:30 – Final Charge: Show Up and Stay Aggressive
A surgical team, a spacecraft crew, and your senior leadership team are each held together by something surprisingly intimate: a shared sense of who’s responsible for remembering what. Even close couples run on the same system. One partner can scale back their memory in a particular domain where their spouse has expertise. Based on this insight, the late social psychologist Dan Wegner originated the concept of “transactive memory systems.” Groups of people build a shared understanding—a system for who knows what—that works because each person can rely on the other’s expertise to coordinate daily life.
Goldman Sachs found 36.6% of Americans earning above $500,000 live paycheck to paycheck, a higher share than people earning $50,000 to $100,000.
Paycheck-to-paycheck rates bottom out at 22.2% for the $100,000 to $200,000 bracket. Goldman links the climb above that level to rising lifestyle expectations.
Only 39% of workers increased their retirement savings in 2026, down from 55% in 2025.
More than a third of Americans earning above $500,000 a year say they live paycheck to paycheck, according to the Goldman Sachs Asset Management 2026 Retirement Survey and Insights Report. The exact figure is 36.6%, higher than the 34.0% reported by people earning $50,000 to $100,000.
Goldman surveyed 5,106 Americans in July 2026, including 3,612 workers and 1,494 retirees. The survey defined paycheck to paycheck as struggling to save and make progress on long-term goals, the exact gap a working monthly budget is meant to close.
Financial Strain By Income: Goldman Sachs 2026 Retirement Survey
Income
Live Paycheck To Paycheck
Pay Card Minimum Or Less
Delayed A Financial Goal
Less Than $50K
60.8%
47%
78%
$50K To $100K
34.0%
40%
65%
$100K To $200K
22.2%
36%
54%
$200K To $300K
24.9%
30%
52%
$300K To $500K
34.2%
38%
72%
Above $500K
36.6%
46%
80%
Source: Goldman Sachs Asset Management. The College Investor.
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Why It Matters
Financial security in the survey follows a U-shaped curve instead of rising with pay. The paycheck-to-paycheck share bottoms out at 22.2% for the $100,000 to $200,000 bracket, then climbs with every bracket above it.
The top bracket shows strain on other measures too. Some 46% of people earning above $500,000 pay only the credit card minimum payment or less each month, nearly matching the 47% of those under $50,000. Goldman did not publish how many respondents fell into each income bracket.
Why Do High Earners Feel Strained?
Goldman points to lifestyle inflation, not trouble paying for the basics. The report cites “higher lifestyle expectations” and “larger fixed commitments” as the pressures behind top-earner strain, with expectations that “often outpace a rising income.”
I’ve seen this pattern firsthand, and it is “Keeping up with the Joneses” in its purest form. Once families pass a certain income, private school tuition, bigger travel budgets, and more expensive cars become fixed costs that are hard to walk back.
Ramit Sethi’s I Will Teach You To Be Rich podcast recently featured a household with $11 million in assets that still lives month to month, which highlights this exact situation.
The Numbers Behind The Headline
The report had a lot of interesting stats:
80% of $500,000-plus earners have delayed a major financial goal, and 45% have delayed retirement savings, the highest share of any bracket.
69% of top earners say money worries make it hard to focus at work, versus 44% at $200,000 to $300,000.
55% of the top bracket are likely to look for a new job within 12 months to improve their finances.
Only 39% of workers increased retirement savings this year, down from 55% in 2025.
Gen Z leads on extra work, with 80% having done gig or side work and 76% of them saying they needed the money. Our list of 54 side hustle ideas covers the most common options.
51% of respondents have used AI tools for retirement or financial planning.
How This Connects
Housing costs and day-to-day living expenses tied for the top obstacle to retirement saving at 31% each, with debt payments close behind at 27%. Debt remains a drag for younger workers, which is why many grads use side hustles to attack student loan debt.
Workers ranked maximizing company benefits as the second most wanted type of help at 31%, and the easiest win there is to capture the full employer 401(k) match. Goldman also cites a 3.9% personal saving rate, which leaves most households with a thin cushion.
The College Investor’s breakdown of how much emergency savings you need is a good starting point.
What’s Next
Goldman is using the findings to push personalized advice, guaranteed income options, and private market investments inside 401(k) plans.
Savers should check the 2026 IRA and 401(k) contribution limits and raise their deferral rate before year-end.
Editor: Colin Graves
The post Goldman Sachs: More Than A Third Of $500K Earners Say They Live Paycheck To Paycheck appeared first on The College Investor.
$1,000 offer: spend $15,000 within 150 days of account opening to earn $1,000.
Unlimited 2% cash back on every purchase.
Maintain a qualifying balance in an eligible U.S. Bank Business Checking account to earn up to 3.5% cash back on up to $200,000 in eligible purchases annually. See the table below for details:
Qualifying Balances
Cashback Rate
$15,000
2.5%
$75,000
3%
$150,000
3.5%
Earn 5% cash back automatically in your highest-spend eligible category each month, on up to $200,000 in spending annually.
Disadvantages
$295 annual fee, NOT waived for the first year.
Money held in U.S. Bank Business Checking earns little to no interest, so the opportunity cost can be substantial.
Not every spending category qualifies for 5% cash back. The current definition is: “Top Categories” include accounting & tax services, airlines, cell phone service providers, dining, entertainment (such as bowling alleys, golf courses, entertainment parks), office supply stores, postal & shipping services, and utilities. These “Top Categories” may change in the future without notice.
Foreign Transaction Fee (FTF) 是存在的,所以出了美国就不要刷了。
When to Apply
We recommend waiting until you have at least two years of credit history, a solid understanding of credit cards, and most of the worthwhile cards you qualify for before bothering with U.S. Bank.
Summary
The boosted cash back rates may look attractive, but the opportunity cost of keeping that much money on deposit is substantial. Assuming you could earn 4% APY in a competitive savings account, keeping $150,000 here would cost you $6,000 per year in forgone interest. Even if you max out the $200,000 annual spending cap, the extra 1.5 percentage points in cash back would earn you only $3,000. And don’t forget the annual fee. By this math, parking money here solely to earn a higher cash back rate simply isn’t worth it.
The 5% cash back category is more interesting. If more than approximately $9,833 of your annual spending qualifies for the 5% rate, the additional cash back compared with a flat 2% card could cover the annual fee. Still, the eligible categories seem fairly limited, so this card probably isn’t worth considering for most people.
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More than one-third of homeowners report renewal anxiety, while affordability concerns are shaping buying decisions and interest in multigenerational housing.
Marcus Buckmann, Galina Potjagailo and Shobhit Rawat
What can artificial intelligence reveal about firms’ pricing decisions from text-based business intelligence? We use a large language model (LLM) to quantify pricing narratives from reports documenting discussions during the Bank of England’s company visits. The LLM is prompted to derive scores for output-price changes and decompose them into determinants, including direct and indirect input costs, labour costs and demand. The resulting measures recover economically meaningful signals from firms’ narratives over time, from weak demand following the global financial crisis (GFC) to broad cost pressures and subsequent effects through wage and price setting during the recent inflation surge. The latest narratives point to marked cost increases following Middle East conflict, but so far less broad and persistent than in 2022.
Inside firms’ pricing narratives: exploiting text sections from business intelligence reports
Inflation data tell us how aggregate prices are changing but reveal little about the factors shaping firms’ pricing decisions and the mechanisms driving inflation. To shed light on these narratives ‘on the ground’, Bank of England staff regularly meet companies across the United Kingdom, documenting discussions in company visit reports. Alongside manually assigned company visit scores, a typical report contains information on the firm, such as its location, employment and turnover, as well as detailed qualitative notes summarising staff discussions with the contact on demand, costs, wages, margins, investment and prices. This business intelligence provides a direct qualitative view of how firms perceive economic conditions, form expectations and explain their decisions. Yet these text-based reports have remained largely underexplored as a source for systematically quantifying such narratives over time.
In ongoing research, we use an LLM (GPT‑5.4) to analyse these text sections. Our data set contains 66,820 reports from January 2005 to September 2026, averaging around 260 per month, although volumes have declined somewhat over time (to 237 per month in 2026). To manage costs, we analyse a random one third sample up to 2025 and the full sample for 2026. The text sections have become substantially longer over time, with median length increasing from 585 words in 2005 to 1,254 words recently, allowing a more nuanced quantification of pricing narratives in the later part of the sample. The reports cover 2,000–3,000 firms per year. Manufacturers and medium-sized firms are somewhat over-represented relative to the UK business population.
Using an LLM to derive scores and decompositions of pricing determinants
For each report, the LLM quantifies reported and expected output-price changes over the past and next three to 12 months relative to normal conditions. This mirrors the Bank’s existing practice of manually scoring firms’ assessments but applies it systematically across the text. Importantly, rather than simply tracking whether prices are rising or falling, the LLM decomposition maps the factors cited by contacts to a set of economic determinants. This allows us to trace the evolution of firms’ pricing narratives over time, akin to recent work on aggregate inflation narratives from newspaper articles. Analysis at the Reserve Bank of Australia instead quantifies business intelligence into stand-alone scores using dictionary methods.
We instruct the LLM to separate the following six determinants in our preferred specification: direct energy-related costs, input costs that pass-through indirectly via supply chains such as via energy being used to produce inputs, labour costs, demand, profit-margin adjustment, reflecting the extent to which firms absorb or pass through higher costs, and strategic complementarities, which capture how firms adjust prices in response to competitors facing similar pressures. Further, any unexplained component is assigned to an unattributed category.
The LLM analyses the full text of each report and is instructed to assign contributions only when a factor is explicitly linked to firms’ pricing decisions. For example, wage developments contribute to the labour costs component only when described as influencing price-setting and receive a zero contribution otherwise. Reports with insufficient pricing information are excluded. Averaging these report-level scores and determinant contributions produces aggregate and sector-level monthly scores and decompositions.
The LLM recovers intuitive inflation narratives.
Chart 1 shows the LLM score for realised output prices (black line), demeaned over the sample period and rescaled to CPI inflation. It tracks CPI inflation (dotted blue) closely, albeit with greater month-to-month volatility, despite a larger unexplained component following the GFC and during the recent inflation episode. The LLM score is also highly correlated with Bank staff-assigned company visit scores (yellow), but occasionally turns sooner, such as in 2016 and 2021, and unwinds more quickly thereafter, most notably in 2023.
Chart 1: LLM score of business contacts’ output price changes over the past three to 12 months, against manual Bank staff (Agents’) scores and CPI inflation
Notes: LLM output-price scores (black line), demeaned and rescaled to CPI inflation (dotted line, mean of 2.9%, max: 11.1% in October 2022). Aggregated across all reports used. Original scale for LLM score: [-100;100], Bank staff (Agents’) scores: [-5;5].
The LLM decomposes the score into determinants, shown in Chart 2, overall capturing an economically meaningful inflation anatomy over time. During the GFC, the LLM decomposition points to price pressures dominated by weak demand, followed by downward pressure from strategic pricing and unattributed factors, although this weakness was less evident in CPI inflation. Labour costs also weighed on prices in the subsequent recovery. In 2014–15 and during the Covid-19 pandemic, lower global oil and commodity prices were reflected in weaker indirect cost pressures, though less so than in CPI inflation. Following the Brexit referendum, firms’ narratives instead pointed to rising non-labour costs and a larger unattributed component, potentially reflecting heightened uncertainty.
Chart 2: LLM decomposition of business contacts’ output price changes over past three to 12 months
Pricing narratives during the 2021–23 inflation and recently
In 2021, firms reported broad-based direct and indirect cost pressures, supported by strong demand and smaller contributions from margins and strategic pricing. During 2022–23, labour costs and price-setting channels became increasingly important, particularly among service providers, as demand weakened. By 2024–25, labour costs had emerged as the dominant upward driver, coinciding with announced increases in the National Living Wage and employers’ National Insurance contributions. To get a more nuanced picture, in Chart 3 we also separately aggregate results by goods producers and service providers, rescaled to goods and services CPI inflation, respectively.
Chart 3: LLM decomposition of output price changes, by goods and services producers, from 2021
Notes: Demeaned and rescaled LLM output-price scores (black line) and decompositions (bars), aggregated separately by goods and services producers. Demeaned and rescaled based on goods inflation (mean: 2.3%) and services inflation (mean: 3.6%), respectively.
The effects from the Middle East conflict on realised pricing narratives have so far remained relatively subdued. A temporary rise in direct cost pressures was followed by some indirect cost pressures in recent months. However, these effects remain much more muted than in 2021–23 and have been accompanied by weak labour cost pressures and subdued demand. For services firms, the decomposition also suggests sustained price pressures from strategic pricing and profit margins, pointing to some continued ability to pass through higher costs into prices. However, compared with 2022–23, weaker wage pressures may provide greater scope for firms to absorb part of these pressures rather than pass them through.
Past versus expected narratives
Around turning points, what businesses expect may be more informative than what they report about the recent past. We therefore separately quantify expected output-price changes and their determinants over the next three to 12 months. Chart 4 compares past and expected contributions: both tend to move closely together, possibly reflecting both the difficulty of fully separating past and future developments within the reports and contacts’ tendency to extrapolate current conditions. The largest divergences emerged around major shocks. In early 2021, expected price pressures strengthened ahead of realised pressures, particularly through direct and indirect costs and profit margins. Since the start of the Middle East conflict, direct cost pressures have risen more sharply in expectations than in realised narratives and remain elevated, while a temporary rise in expected indirect costs appears to be feeding into realised pressures, albeit much less than in 2022–23. In the future, we aim to explore whether expected pricing narratives contain leading information for inflation.
Chart 4: Comparing contributions to past and expected output-price changes
Notes: Selected LLM decomposition contributions for past three to 12 months (solid) and next three to 12 months (dashed) narratives, 2020–26, aggregated across all reports, no rescaling, 12-month one-sided moving average.
Validating the LLM determinants against external series
Finally, the LLM-derived pricing determinants closely resemble established macroeconomic indicators. Chart 5 shows, for example, that the direct cost component tracks UK CPI energy inflation, while the demand component aligns well with a Bank of England staff estimate of the UK output gap, using an approach based on a state-space model similar to those developed for the Euro area. Given the uncertainty surrounding output-gap estimates in real time, the LLM-derived measure of firms’ demand pressures may provide a useful complementary indicator. This suggests that the decomposition recovers economically meaningful signals from firms’ narratives despite not being designed to directly identify aggregate structural inflation drivers.
Chart 5: Selected LLM decomposition contributions compared against external series
Notes: LLM direct-energy (left) and demand (right) contributions from decomposition of realised output-price changes over past three to 12 months. The LLM contributions are rescaled to the corresponding dashed-line external series. The output gap is a Bank of England staff estimate from a state-space model estimated over 1988 Q1 to 2026 Q3 and is linearly interpolated from quarterly to monthly frequency for plotting.
Sources: Bank of England staff calculations, ONS and authors’ calculations.
From qualitative intelligence to quantitative evidence for policy
We show how LLMs can transform narrative business intelligence into quantitative indicators while preserving meaningful distinctions between pricing determinants. The approach complements Bank staff’s qualitative assessments by providing a consistent framework for comparing narratives across firms, sectors and time. Beyond tracking whether firms report prices rising or falling, it helps uncover the drivers behind those changes and distinguish inflation episodes by their narrative anatomy. In the current conjuncture, for example, it suggests that cost pressures following the Middle East conflict remain concentrated in direct costs, with limited evidence of the broader propagation mechanisms seen during the 2021–23 inflation surge. More generally, it opens new possibilities for turning qualitative business intelligence into timely quantitative evidence for economic analysis and policy.
Marcus Buckmann works in the Bank’s Advanced Analytics Division, Galina Potjagailo works in the Bank’s Monetary Policy Innovation Lab and Shobhit Rawat works in the Bank’s Agency Network.
If you want to get in touch, please email us at bankunderground@bankofengland.co.uk or leave a comment below.
Comments will only appear once approved by a moderator, and are only published where a full name is supplied. Bank Underground is a blog for Bank of England staff to share views that challenge – or support – prevailing policy orthodoxies. The views expressed here are those of the authors, and are not necessarily those of the Bank of England, or its policy committees.
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Key Takeaways
There’s no rule that says these business relationships have to be cheap or temporary. In fact, some of my most fruitful connections started out in very network-y ways, and quickly blossomed into something much more durable.
To maintain these valuable connections, cast a wider net than feels natural, give before you need anything and let the relationship stay light.
“Networking.”
Perhaps no other word inspires such panic in the introvert’s heart. The idea of standing around in a soulless hotel ballroom, trying to deftly balance a small plate of food while shaking hands with someone else trying to do the same? A nightmare.
I get it. For years, I avoided it, too. I told myself I was too busy building Jotform to spend an evening trading business cards with strangers. In reality, I just didn’t like it.
What I did like, however, was building connections. I cherished the feeling of talking shop with like-minded people, hearing about their latest projects and telling them about mine; forwarding an article to a long-time acquaintance that reminded me of a conversation we’d had; congratulating a former colleague on a new venture; or complimenting a fellow founder on a successful product release.
That’s when I realized that networking doesn’t have to be making stilted small talk while you quietly weigh the feasibility of escape via air vent. Nor does it have to be a numbers game where you shake as many hands as possible.
It can, in fact, be as simple as talking to people you find interesting, and being willing to reach out when you have something to say. Done right, it doesn’t have to feel like work at all.
Why “networking” is the wrong term
Some words just naturally inspire a deep sense of ick. Through no fault of its own, “networking” has become one of them, placing it on par with other disquieting terms like “moist” and “synergy.” It implies a cheap, transactional nature; something to discard once it stops producing value.
But there’s no rule that says these relationships have to be cheap or temporary. In fact, some of my most fruitful connections started out in very network-y ways, and quickly blossomed into something much more durable.
I actually think my introverted nature has something to do with that. I don’t ask questions if I don’t want to hear the answer. Nor do I waste time on conversations that don’t genuinely interest me. I’m not built for small talk, so I just…skip it.
Networking advice often centers on a series of tricks, like repeating someone’s name twice in the conversation, or dropping in a well-timed personal anecdote. But the truth is, people can tell the difference between someone working the room and someone who’s actually listening. There’s not a lot of value in a shallow, unmemorable interaction.
Instead, ask the question you actually want to ask. Have the conversation you want to have. If the person you’re chatting with isn’t on the same page or doesn’t seem engaged, there’s no reason to force yourself to keep going. Give yourself permission to end the interaction tactfully and move on.
The power of weak ties
In 1973, a Stanford sociologist named Mark Granovetter conducted a study that may make you rethink your beliefs about casual acquaintances — I know they forced me to rethink mine.
Granovetter found that, contrary to popular belief, it’s actually our most peripheral acquaintances — what he calls “weak ties” — who end up serving as our most important sources of new information and ideas.
You might assume that your closest connections (otherwise known as “strong ties”) would be the most valuable when it comes to finding a new job or sourcing a new hire, but that’s actually not the case. Those closest to us are just that — too close. There’s too much overlap between the information they possess and the people they know to be truly helpful. Weak ties, on the other hand, offer fresh perspectives and a pool of information we don’t already have.
Here’s my advice on growing and maintaining these valuable connections:
Cast a wider net than feels natural
Strong ties tend to form on their own. You don’t have to try with the people you already see every week. Weak ties take a deliberate push.
That means saying “yes” to the coffee with someone outside your usual circle. Talking to the person at the conference who works in a completely different industry than yours. The goal isn’t necessarily to befriend everyone; it’s more ensuring that your circle includes a few people who see the world differently than you.
Give before you need anything
The fastest way to kill a weak tie is to only appear when you want something. Rather than always popping up with an ask, reach out before you need a favor. Send the article you think they’d like, or congratulate them on a launch with no agenda attached.
I do this constantly with people I’m not particularly close to. Most of the time, nothing comes of it directly. Every so often, that small gesture is the reason someone thinks of me first when an opportunity comes along.
Let the relationship stay light
A weak tie doesn’t require monthly check-ins to survive. It just needs to not go completely cold. This can be an easy, introvert-friendly lift — a comment on something they posted, a quick reply when they reach out. None of it has to be heavy to keep the connection alive.
The pressure to “maintain” a relationship is part of what makes networking feel so taxing. Weak ties don’t ask that much of you. The only requirement is that you show up occasionally, and mean it when you do. These ties may stay loose, and that’s completely okay. They may also blossom into some of your most valuable relationships.
Key Takeaways
There’s no rule that says these business relationships have to be cheap or temporary. In fact, some of my most fruitful connections started out in very network-y ways, and quickly blossomed into something much more durable.
To maintain these valuable connections, cast a wider net than feels natural, give before you need anything and let the relationship stay light.
“Networking.”
Perhaps no other word inspires such panic in the introvert’s heart. The idea of standing around in a soulless hotel ballroom, trying to deftly balance a small plate of food while shaking hands with someone else trying to do the same? A nightmare.
I get it. For years, I avoided it, too. I told myself I was too busy building Jotform to spend an evening trading business cards with strangers. In reality, I just didn’t like it.
Money can move into tokenized private funds much faster than it comes out. Even as asset managers use blockchain technology to turn fund shares into digital tokens, a lack of liquidity can mean investors must wait months to find a buyer. Fission, a New York-based startup, is building a system designed to let investors skip that wait and sell their tokenized fund shares in seconds.
On Thursday, the startup, founded in 2024 by CEO Jonathan Shaffer, CRO Steve Bendit, and CTO Chris Humphrey, announced a $10 million Series A to address the liquidity problem. Pantera Capital led the round, which closed in September, with participation from Circle Ventures, Borderless Capital, and Ari Rubenstein. Fission declined to disclose its valuation.
Although tokenization has helped investors skip cumbersome paperwork to invest in funds from major managers such as BlackRock, Apollo or Janus Henderson, it doesn’t guarantee that they will find buyers when they want to sell their holdings. Fission’s approach is to act as the buyer, allowing investors to sell through its platform rather than wait for the fund to process a withdrawal. Investors connect their digital wallets and submit a sale, while Fission handles the legal and trading mechanics behind the scenes.
“It would take you normally about 200 days to sell [a] product. For a fee, you can sell it right now and get your money back, and this will settle… in 90 seconds or less,” Shaffer told Fortune.
The missing exit
Tokenization has gained traction on Wall Street as asset managers put fund shares and investment products on digital ledgers. BlackRock expanded its lineup in August with two tokenized money market products, while JPMorgan’s asset management arm has also stepped up its efforts, launching its second tokenized money market fund for U.S. investors in May.
This recent push also extends to brokerage distribution: Pittsburgh-based investment manager Federated Hermes announced a partnership with Prometheum this month to offer tokenized funds through brokerages, with the first product expected in early 2027.
But liquidity issues remain. In June, InvestaX, a platform for digital investments, said investors in tokenized private-credit products mostly put money in or withdrew it through the funds, instead of selling their holdings to other buyers. An earlier report by the International Organization of Securities Commissions, a global group of financial regulators, found that firms had made more progress creating digital tokens than establishing markets where investors could sell them to one another.
“Where tokenization is today has really been focused around the bridging layer and the issuance layer… but what Fission is focused on—the post-tokenization problem—almost nobody is focused on,” Franklin Bi, general partner at Pantera Capital, told Fortune.
Fission’s founders encountered the problem firsthand. As an investor at Point72, the hedge fund of billionaire Steve Cohen, Shaffer watched Wall Street turn private fund shares into digital tokens without shortening investors’ waits to cash out. As he dug into the mechanics, he connected with Bendit, then head of business development at Securitize, a company that puts financial assets on blockchains. After more than two years discussing why fund liquidity remained elusive, they teamed up with Humphrey to launch Fission and build a faster exit for investors.
Today, the startup has eight employees, with team members on Long Island and in Los Angeles. Most of its customers are institutional investors or organizations that hold assets on blockchains, Shaffer said. They include U.S. and overseas hedge funds with tokenized private-credit or equity holdings, crypto organizations managing their treasuries, and stablecoin issuers that keep reserves in tokenized investments that earn interest. A smaller but growing group of wealthy individuals also uses the platform to cash out personal holdings.
The Series A follows a $1.6 million pre-seed round led by SALT Fund and Kraynos Capital. Existing investors New Form, gumi Cryptos Capital, Anthony Scaramucci, Manhattan Venture Partners, Reflexive Capital, and Lattice Capital also continued their backing.
क्या अमीर बनने के लिए 60 साल की उम्र तक इंतज़ार करना जरूरी है? 🤔
या फिर आप जवानी में ही Financial Freedom की तरफ बढ़ सकते हैं?
इस वीडियो में हम समझेंगे पैसे और wealth बनाने के 3 अलग-अलग रास्ते — Footpath, Cycle Lane और Expressway. 🚗💰
हम तीन दोस्तों — रोहन, कबीर और अनय — की कहानी के जरिए समझेंगे कि सिर्फ ज्यादा कमाना ही काफी क्यों नहीं है, और Saving, Investing और Valuable Skills आपकी financial journey को कैसे बदल सकते हैं।
इस वीडियो में आप जानेंगे:
💰 Income और Wealth में क्या अंतर है?
📉 Lifestyle Inflation आपकी wealth को कैसे रोकती है?
🏦 Saving और Investing क्यों जरूरी हैं?
🚀 अपनी Income बढ़ाने की क्षमता कैसे विकसित करें?
🧠 Valuable Skills आपकी सबसे बड़ी investment क्यों हो सकती हैं?
💼 Business और multiple income sources का क्या role है?
⚡ Financial Freedom के लिए Expressway क्या है?
🎯 कम उम्र में wealth-building की शुरुआत कैसे करें?
याद रखिए —
Saving आपको सुरक्षित रख सकती है, Investing आपके पैसे को grow कर सकती है, लेकिन Valuable Skills आपकी earning capacity बदल सकती हैं।
अगर आप अभी Financial Freedom की journey शुरू करना चाहते हैं, तो यह वीडियो आपके लिए है। ❤️
👇 कमेंट में बताइए:
आप अभी Footpath, Cycle Lane या Expressway — किस रास्ते पर हैं?
वीडियो पसंद आए तो Like 👍 | Subscribe 🔔 | Share 📲 जरूर करें।
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यह वीडियो केवल educational और informational purpose के लिए है। इसमें दी गई जानकारी को किसी भी प्रकार की financial, investment या business advice न माना जाए। किसी भी investment decision से पहले अपनी research करें और जरूरत पड़ने पर qualified financial professional से सलाह लें।