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The future of finance, inside Peloton's IPO, and CMOs to watch

The future of finance, inside Peloton's IPO, and CMOs to watch
Shayanne Gal/Business Insider
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Investment firms in recent years have turned to so-called alternative data firms, which turn obscure data sets into tradable information, to try and get an edge on the competition. A cottage industry of tech firms has sprung up, processing information on everything from the weather to web searches and selling it to hedge funds and others.
Now, some are saying there might be a bubble in the industry.
Take Thasos Group. A player in the booming $7 billion alternative-data industry, Thasos was worth $42 million, had ties to MIT, and boasted a blue-chip CEO whose prior company Sense Networks was once named the "The Next Google" by Newsweek. Thasos was also part of Bloomberg's newly launched alternative-data marketplace, meaning it had a stamp of approval from the data juggernaut.
But Thasos struggled to make money selling to its main financial services to clients and, in August, was forced to fire two-thirds of its staff, sources told Business Insider. Its CEO and cofounder, Greg Skibiski, also stepped down.
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