Snap Founder Pivots to AI Amid Layoffs
Snap Inc. announced it will lay off about 1,000 employees and close 300 open positions, targeting $500 million in annual cost reductions. The company says AI now generates 65% of its code, accelerating development and efficiency. Activist investor Irenic Capital, which owns 2.5% of Snap, has pressured the firm to trim its bloated workforce after rapid hiring since the pandemic. Snap posted Q4 2025 revenue of $1.7 billion and net income of $45 million, while its stock rose to $5.84 per share.
Caruso Sparks Deal with Rivian for EV Charging
Caruso, the Los Angeles‑based real‑estate developer, signed a multi‑year agreement with Rivian Automotive to install over 150 DC fast‑charging stations across its properties within the next year. The partnership adds two Rivian showrooms at The Commons at Calabasas and The...
Faraday Future Lands $45 Million in Funding
Faraday Future Intelligent Electric Inc. announced a $45 million financing round with an unnamed U.S. institutional investor. The deal delivers $15 million upfront and places the remaining $30 million in a controlled deposit, to be released in installments upon meeting specific milestones. The...
LABJ Insider: Shareholders Hand Ellison Another Win
Larry Ellison's son, David Ellison, secured board approval for Warner Bros. Discovery's $110 billion merger with Paramount Skydance, moving the deal toward a year‑end close. The transaction will place CNN under Ellison's expanding media empire, while Netflix's competing bid fell through,...
LABJ Stock Index: April 27
A senior executive discovered that a free AI therapist app had inadvertently captured detailed, confidential information about a family office, highlighting the hidden privacy risks of generative AI. The article warns that AI agents, especially emerging "agentic" models, can store,...
CONSTRUCTION/DEVELOPMENT: Hui, Cyrolies
Cumming Group bolstered its Los Angeles office by appointing Sonnet Hui as Senior Vice President of Private Project Management and promoting Michael Cyrolies to Cost Management Senior Director. Hui arrives with more than 25 years overseeing complex projects for Fortune‑100...
Community Champions: JPMorganChase Partners With Sports Legends to Help Athletes Master Their Money
JPMorgan Chase launched the Athlete Council, a partnership with top sports legends to deliver financial‑education programs for athletes at every career stage. The council, chaired by Dwyane Wade, includes figures such as Tom Brady, Alex Morgan and Megan Rapinoe, and...
Top 100 Lawyers 2026 Specialty Awards – ATTORNEY TO WATCH HONOREE
Andrew Strabone, a partner at Irell & Manella, has been named an Attorney‑to‑Watch honoree in the Top 100 Lawyers 2026 Specialty Awards. At just 11 years into his career, he became the youngest member of the firm’s five‑person management team, a historic appointment...
Top 100 Lawyers 2026 Specialty Awards – CHAMPION OF MENTORSHIP HONOREE
Scott Burton, co‑head of environmental and mass tort at Norton Rose Fulbright US LLP, was named the Champion of Mentorship in the Los Angeles Business Journal’s Top 100 Lawyers 2026 Specialty Awards. The honor spotlights a career that blends high‑level legal work with...
2026 Top 100 Lawyers Specialty Award: LEGAL EXCELLENCE HONOREE
Los Angeles‑based co‑managing partner Steven J. Elie of Musick, Peeler & Garrett LLP has been named a 2026 Top 100 Lawyers Specialty Award honoree for Legal Excellence. With more than 30 years leading complex business, insurance and environmental litigation across California,...
Top 100 Lawyers 2026 – Stephanie Yonekura
Stephanie Yonekura, a partner at Hogan Lovells, has been named to the Top 100 Lawyers 2026 list. She heads the firm’s global Investigations, White Collar and Fraud practice, overseeing more than 150 attorneys in 20 jurisdictions. A former Acting U.S. Attorney for the...
Top 100 Lawyers 2026 – Kathy Wunderli
Kathy Wunderli, partner and West Coast co‑chair of Willkie Farr & Gallagher’s Private Wealth Group, has been listed among the Top 100 Lawyers for 2026. She oversees the firm’s wealth‑management practice across three West Coast offices, providing tax, estate‑planning and trust...
Serhant Opens L.A. Office
Ryan Serhant’s brokerage opened a multi‑city California footprint, debuting offices in Los Angeles, Orange County, San Diego, San Francisco and Tahoe. The launch brings $2 billion in active listings, including $1 billion in L.A., and features high‑profile hires such as former The...
Studio System Under Strain
The Walt Disney Co. and Sony Pictures Entertainment announced hundreds of layoffs under their new CEOs—Josh D’Amaro and Ravi Ahuja—highlighting lingering post‑pandemic pressures, strikes and rising production costs. Sony disclosed 133 cuts, primarily at its Culver City campus, while Disney’s...
Energy Grid Startup Gets $26 Million Fundraise
Critical Loop, a Long Beach‑based energy firm, closed a $26 million Series A round led by Conifer Infrastructure Partners and Hanover, with participation from Better Ventures, Climate Capital, Cyrus Ventures and Adapt Nation Capital. The capital will fund its mobile microgrid solution that...
EverBank Opens Two Branches
EverBank, originally an online‑only lender, opened two new branches in Santa Monica and Westlake Village, bringing its Los Angeles‑County footprint to seven locations. The bank now operates 41 branches nationwide across California, Florida and New York, managing $46 billion in assets and $37 billion...
1st Century Making an Identity Pivot
MidFirst Bank announced the rebranding of its California subsidiary, formerly 1st Century Bank, to MidFirst Bank California, completing a decade‑long integration after its 2016 acquisition. The change aims to consolidate brand awareness and streamline technology and marketing across the state....
Oaktree-Backed Firm Buys Advisory
GA Group, an Oaktree‑backed advisory firm based in Westlake‑Village, has acquired Boston‑based investment bank G2 Capital Advisors. The purchase expands GA Group’s portfolio beyond its core appraisal and liquidation services into a full‑service advisory model for small and medium‑sized enterprises...
Ports Get $70 Million Each for Upgrades
The U.S. Army Corps of Engineers allocated roughly $70 million to both the Port of Los Angeles and the Port of Long Beach from the Harbor Maintenance Trust Fund. The money, sourced from a commercial cargo tax, will fund dredging, seismic upgrades, wharf...
Modular Development Lands in Santa Monica
The Community Corporation of Santa Monica, the city and St. Joseph Center launched Berkeley Station, the city’s first modular affordable‑housing project, delivering 13 units for low‑income families and young adults. The development was funded with an $11.3 million Housing Trust Fund loan...
App Makes Conversation Musical
Feels Music Messaging, founded by former Interscope executive Tony Seyler, launched last month as a free app that lets users share bundled lyrics, images, audio clips and music videos instead of static screenshots. The platform secured licensing agreements with Universal...
Webtoon Is Making New Platform
Webtoon Entertainment Inc. announced the spring launch of Canvas, a unified international platform that will aggregate its regional services and support seven languages with AI‑powered translations. The new hub offers creators performance analytics, expanded monetization options, and personalized recommendations for...
Merger Takes Interrogate Global
Interrogate, a Westchester‑based production house, has merged with The Sweetshop Global, a New Zealand‑origin firm with six offices spanning Europe, Asia, Australia and a U.S. hub in Santa Monica. Co‑founders Jeff Miller and George Meeker, who have overseen Sweetshop’s U.S. operations since...
Airhart Takes Off
Airhart Aeronautics, founded by former SpaceX avionics engineer Nikita Ermoshkin, unveiled a four‑seat prototype that consumes just 7.4 gallons of fuel per hour and features a dual‑touch “electronized” cockpit that automates routine tasks. The company raised $4.56 million in venture capital...
Women of Influence: Healthcare 2026 – Kavitha Bhatia
Kavitha Bhatia, President and Chair of the Prime Healthcare Foundation and Chief Medical Officer of Strategy at Prime Healthcare, drives systemwide value creation and health‑equity initiatives. Under her leadership, Prime Healthcare has tripled in size, expanding its network through urgent‑care,...
Women of Influence: Healthcare 2026 – Jacqueline Bracy
Dr. Jacqueline Bracy, a veteran OB/GYN with roughly 30 years of service, was among the first female physicians elected chief of staff at Foothill Presbyterian Hospital. In 2013 she became president of Emanate Health Medical Group, overseeing a network that...
Women of Influence: Healthcare 2026 – Alexandra Busto
Alexandra Busto, a partner at Nixon Peabody, is a leading corporate and regulatory healthcare attorney. She advises providers on long‑term strategies, fee structures, and outpatient solutions that lower inpatient costs. Busto recently led the legal work for Tenor Health Foundation’s acquisition...
Women of Influence: Healthcare 2026 – Anita Chou
Anita Chou was appointed finance officer for Adventist Health’s Southern California network in January 2026, becoming the first woman to hold the role across its four hospitals. With more than 25 years of experience, she now oversees financial strategy, operational...
Voyaging to ‘Space Beach’
Voyager Technologies Inc., a Denver‑based space‑defense firm, opened a 140,000‑square‑foot facility in Long Beach, positioning itself near the region’s aerospace cluster and the Space Force base in El Segundo. The move follows a record‑breaking 2025 where Voyager posted $166.4 million in net...
Capital Group Buys Tower for $210 Million
Capital Group, Los Angeles' largest asset manager, bought the 55‑story Bank of America Plaza for roughly $210 million, or about $150 per square foot—well under the $240 market estimate. The purchase follows a steep valuation decline from $605 million a decade ago...
Another DTLA Office Tower May Sell
Manulife U.S. REIT is proposing to sell the 35‑story TCW Tower in downtown Los Angeles to the Los Angeles Department of Water and Power for $92.5 million, roughly $129 per square foot, pending City Council approval. The tower was only 46%...
Goldman Sachs Lends $80 Million Refinance
Goldman Sachs has issued an $80 million, five‑year, fixed‑rate, interest‑only mortgage to refinance the Del Rey Campus, a 162,031‑square‑foot creative office complex in Marina del Rey. The loan, arranged by Sonnenblick‑Eichner, targets a premium Silicon Beach asset anchored by tenants such as the World...
Savills Pairs with Beverly Hills Estates for Brokers
Savills has partnered with Beverly Hills Estates, appointing brokers Branden and Rayni Williams as its exclusive residential brokerage partner on the U.S. West Coast. The alliance gives Savills a direct entry point to high‑net‑worth buyers in Los Angeles while expanding...
Forest Road Launches ‘Green’ Investment Arm
Forest Road Co. has created CenterNode, an opportunistic energy and infrastructure investment platform backed by up to $750 million of institutional commitments. Veteran investor Seth Zeleznik will lead the new arm, which will initially target cash‑strapped solar developers hit by recent...
Snapshot: The Gathering Place
Thomas James Homes (TJH) has opened The Palisades Gathering Place, a free community hub in Pacific Palisades, to aid residents still recovering from the 2025 wildfires. The launch attracted over 130 locals and advocates, underscoring the company’s expanding role beyond...
Pair of New Health Care Initiatives Formed
The Los Angeles Area Chamber of Commerce, together with its CEO Council, launched a $350,000 employer‑led workforce initiative called “A Paradigm Shift” to train students for high‑demand jobs, beginning with health care. Partnering with the Los Angeles Community College District,...
LABJ Stock Index: April 6
The article outlines three common methods for paying taxes—using a portfolio line of credit, selling securities, or paying with cash—and weighs their pros and cons. A line of credit lets investors borrow against their holdings, preserving market exposure while providing...
BANKING: Beresford, Hoeng
Banc of California announced the addition of two senior banking executives. Dean Beresford was named Executive Vice President and Regional Manager for Commercial Banking covering the South Bay and Long Beach, bringing over three decades of experience. Dorothy Hoeg joined...
2026 Nonprofit + Corporate Citizenship Symposium & Awards: NONPROFIT ADVOCATE OF THE YEAR HONOREE
Mike Daly, Executive Director at Disney Music Group, was honored as the 2026 Nonprofit Advocate of the Year for his leadership of Big Brothers Big Sisters of Greater Los Angeles (BBBSLA). In 2025 he logged over 163 volunteer hours, secured...
2026 Nonprofit + Corporate Citizenship Symposium & Awards: BUSINESS ANGEL OF THE YEAR HONOREE
Barbara Jagels, UCLA Health’s executive director of cancer services, was honored as the 2026 Business Angel of the Year. She has raised over $1 million for the American Cancer Society and secured an $805,000 multi‑year partnership—the largest health‑system contribution to ACS...
2026 Nonprofit + Corporate Citizenship Symposium & Awards: NONPROFIT EXECUTIVE OF THE YEAR (MID-SIZED) HONOREE
Dr. Lois Lee was named Nonprofit Executive of the Year (Mid‑Sized) at the 2026 Nonprofit + Corporate Citizenship Symposium. As founder and CEO of Children of the Night, she has overseen the rescue of more than 17,000 children from prostitution...
Advertising Firm Building ‘Wow’ Factor
Wow Media Inc., founded by Scott Krantz, is installing 30 motion‑picture "EON" booths along Inglewood’s major sports corridors, joining its existing 23 large‑format billboards. The network launches by May 1, just before the FIFA World Cup at SoFi Stadium, and is...
CriticalPoint Wins Case
CriticalPoint Partners secured an arbitration ruling that former vice presidents Phillipe Didisheim and Chapin Newhard must return $1.18 million earned from competing firms they launched using the bank's confidential client data. The arbitrator also issued an injunction prohibiting any further use...
NLACRC Signs New HQ Lease
North Los Angeles County Regional Center (NLACRC) signed a lease for about 167,000 square feet of headquarters space in Chatsworth, the largest office lease by square footage in Los Angeles County this year. The expansion adds roughly 55,000 square feet...
Century Housing Taps New Chief Executive
Century Housing Corp., a longtime California affordable‑housing financier and developer, appointed Jacqueline Waggoner as chief executive on March 23. The nonprofit has invested more than $3.5 billion to create and preserve over 63,000 homes in the state. Waggoner brings 25 years of...
Decron Lands Financing
Mid‑City‑based Decron Properties secured an $83 million, five‑year loan from Fannie Mae, originated by BWE, for its 398‑unit River Ranch Apartments in Simi Valley. The financing is the lowest fixed‑rate loan Decron has obtained in the past four years, allowing the company...
Hospitality: Luxury Styles
Los Angeles is gearing up for the 2027 FIFA World Cup, the 2025 NFL Super Bowl and the 2028 Olympic Games, yet its hotel pipeline is slowing as construction costs, higher interest rates and short‑term rentals curb new affordable projects....
OpEd: Money Managers: Note Shifts in Bonds
David Kang argues that Los Angeles institutions must reassess long‑standing bond assumptions as market conditions evolve. Decades of low volatility and steady monetary policy gave way to wider non‑directional interest‑rate swings, challenging traditional duration‑heavy, long‑end allocations. Liquidity, once taken for granted,...
LABJ Stock Index: March 30
Effective succession planning is essential for family offices to ensure continuity of wealth management and business operations across generations. The article outlines six strategic considerations, ranging from legal framework reviews to emotional handling of senior family members. It emphasizes that...
Space Tech: SpinLaunch – The Disruptors
SpinLaunch is developing a kinetic‑launch system that uses a 100‑meter vacuum chamber to spin payloads, potentially cutting rocket fuel and structural mass by up to 70 %. The company raised $30 million in a Series C round, bringing total funding to $203 million, and...