MYCPE ONE Insights | January Week 5 Edition

Welcome to the January Week 5 Edition of MYCPE ONE Insights—where business, tech, and finance collide! HSBC ditches its Western investment banking arm, DeepSeek shakes up Silicon Valley, and Deloitte doubles down on cloud tech. Meanwhile, a $60M fraud empire crumbles, and South Carolina’s $1.8B accounting mess sparks major scrutiny.? ?

Stay ahead—read the full insights now and keep up with the latest industry shifts.?

Why is HSBC Planning the Biggest Investment Banking Retrenchment in Decades???

HSBC is making waves by ditching its Western investment banking business in a bold pivot to Asia. With M&A struggling, regulatory headaches piling up, and profits lagging, the bank is cutting costs and doubling down on its most lucrative region. The shake-up signals a larger trend—European banks retreating from investment banking while U.S. giants tighten their grip. As finance shifts East, one thing is clear: only the nimblest players will thrive in this new era.??

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How DeepSeek Shook Up Silicon Valley and Wiped Out Nearly $1T??

A Chinese AI startup, DeepSeek, just sent shockwaves through Silicon Valley, unveiling a model rivaling OpenAI and Google—at just 4% of the cost. The fallout? Nearly $1 trillion was wiped from U.S. tech stocks, with Nvidia losing a record $600 billion in a single day. As Washington scrambles to assess the threat, DeepSeek’s open-source AI is rewriting the rules of the game, challenging Big Tech’s dominance and proving that the AI arms race is far from over.??

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Why Did Deloitte Acquire the SaaS Tech Firm SimplrOps???

Deloitte is upping its cloud game with the acquisition of SimplrOps, a SaaS automation firm specializing in ERP and HCM platforms. The move strengthens Deloitte’s ability to streamline operations, speed up implementations, and optimize cloud performance. With record revenues in 2024, this deal signals its commitment to leading digital transformation.??

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How Tech Couple Built a $60 Million Fraud Empire??

Alexander Beckman and Valerie Lau’s AI startup, ON Platform, promised big deals and cutting-edge tech—but it was all a $60M fraud. Fake contracts forged audits, and investor money funding their luxury lifestyle led to their downfall. Now facing federal charges, their story is a lesson in due diligence: always verify before you buy the hype.??

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South Carolina's Auditor Resigns Amid $1.8B Accounting Scandal??

South Carolina just made a $1.8 billion accounting blunder, exposing deep financial oversight failures. Stemming from past errors and weak internal controls, the phantom surplus sat unnoticed for years, triggering resignations and federal scrutiny. Now, the state faces urgent calls for auditing reforms, better governance, and tech-driven financial transparency. If one thing’s clear, it’s this: accountability isn’t optional when billions are on the line.??

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Thank you for tuning in to this week’s MYCPE ONE Insights. See you next Friday for another deep dive into the trends that matter! Download the MYCPE ONE Insights App on the App Store and Google Play to stay updated on the go.?