COVID-19 Digest: March 30

COVID-19 Digest: March 30

March 30, 2020 • Estimated Reading Time: 10 minutes

COVID-19 Digest

Monday, March 30, 2020Tech:NYC’s COVID-19 resource guide is available here. It’s updated daily with the latest info from across the NYC tech sector. Please share this with your networks and encourage your colleagues to sign up here.If there are other topics or resources that would be helpful in future editions of this digest, please let us know here.

The Latest in New York

The latest: New York primaries postponed; USNS Comfort arrives; tools to understand the CARES Act; spring cleaning while quarantined.Confirmed Cases: 

  • New York State: 66,497 (+21,862)

  • New York City: 37,453 (+12,055)

  • Statewide Fatalities: 1,218 (+699)

  • Patients Discharged: 4,204 (+2,159)

* New confirmed case counts are in the aggregate as of our last digest.

General Updates:

  • Gov. Cuomo announced New York’s presidential primary, planned for April 28, has been postponed to June 23. (Wall Street Journal)

  • USNS Comfort docked in Pier 90 this morning, (CNBC), and the Javits Center field hospital officially opened. (CBS) Both facilities will treat non-corona patients to decrease hospital congestion in the city.

  • Medical tents were raised on Central Park lawns this weekend. (NY1) And four new temporary hospital sites were approved — one for each outer borough — adding 4,000 more beds. (Tweet)

  • Mayor de Blasio has authorized police officers to issue fines up to $500 to people not following social distancing measures. (POLITICO) 

  • Elon Musk is donating 615 ventilators for New York’s coronavirus response, as he prepares to reopen Tesla’s Buffalo plant to produce even more. (New York Daily News)

Survey

Last week, the federal stimulus package was signed into law, allocating $2 trillion for direct payments to individuals, expanded unemployment coverage, healthcare funding, business loans, and more. As the mechanics of the bill are implemented, are you interested in receiving more information about its impacts in this digest?

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What You Need to Know

THE CARES ACT:Last week, as the $2 trillion stimulus package was working its way through Congress, we shared a breakdown of the various provisions. Now that the package has been signed into law and federal agencies will begin administering the programs, we wanted to share resources for startups and small businesses looking to receive support and navigate new programs. Thanks to the leadership of Senator Schumer and other members of New York’s delegation, small businesses in New York and nationwide will be eligible for hundreds of millions of dollars in loans, significant loan forgiveness, and a number of tax credits.

  • Justworks offers useful information on the new small business loan program, in addition to different forms of tax relief the federal government is providing to small businesses. 

  • The U.S. Chamber of Commerce provides an updated guide for small businesses navigating the impact of COVID-19, including useful information on the loans available via the government stimulus program. 

  • Tech:NYC co-chair Fred Wilson lays out the details of the stimulus package loan program, and highlights a potential problem for startups looking to qualify for loans. 

  • NVCA has a number of helpful explainers and resources for startups navigating the package. 

  • The Small Business Administration succinctly and clearly lays out all the ways it is supporting small businesses.   

  • The U.S. Senate released a detailed breakdown of how the CARES Act supports small businesses and provides answers to commonly asked questions. 

As the CARES Act is administered and facts on the ground change, Tech:NYC will keep you updated. If you have any questions about the stimulus bill, email our Policy Director here. WORKPLACE TOOLS:

  • Company: business tips for navigating uncertainty on fundraising, runway, and more.

  • Crunchbase: a guide of changing market trends and other business tips.

  • Foursquare: a hub of consumer behavior impacts from COVID-19 using location data. 

  • Google: allotting Google Ad credits to help small and medium-sized companies stay in touch with their customers.  

  • MongoDB: free hosting resources for companies taking on COVID-19 projects.

  • Postman: a hub of APIs and other datasets relevant to COVID-19.

  • RAIN: a free conversational AI tool to help small businesses set up a curbside delivery notification service via SMS.

  • While at Home: a clearinghouse for credible tools and resources and action steps. 

  • Reminder: Tech:NYC’s COVID-19 resource guide is available here.

  • Request: please let us know as your work-from-home policies are extended or what plans your companies have as they are reassessed. Sharing this information is helpful to companies and employees across the NYC ecosystem and can be kept anonymous.

  • Read: Why I Am Not Leaving New York (Vogue)

POLICY:

  • As we flagged last week, many startups may not be eligible for the small business loan program created by the federal stimulus package. Tech:NYC has been working to resolve this issue and over the weekend, signed onto a letter along with over 100 other organizations calling on the SBA to issue new guidance. (NVCA)

  • On Saturday the CDC issued a travel advisory for anyone in New York, New Jersey, and Connecticut to refrain from non-essential domestic travel for 14 days. (CDC) 

  • On Friday, Rhode Island Gov. Raimondo announced that state police would pull over drivers with New York license plates and force them to self-quarantine for 14 days. After pushback from Gov. Cuomo, Rhode Island has broadened the restrictions to include visitors from all other states, effectively no longer singling out motorists from New York. (POLITICO)

  • At Gov. Cuomo’s direction, the Department of Financial Services ordered property and casualty insurers to waive premiums for small businesses and consumers. (Crain’s NY)

  • New York State is facing a potential $15 billion loss in revenue due to the pandemic, and Gov. Cuomo has reiterated the state will likely need to move forward with large budget cuts. Cuomo cautioned that education funding, which makes up about a third of state spending annually, could be in for a hit. (New York Daily News) 

  • A number of lawmakers are criticizing Gov. Cuomo for moving ahead with a plan to reduce Medicaid spending as part of the state budget. (Wall Street Journal)

EVENTS:

  • March 31: Virtual: brunchwork After Hours, with Craft Ventures General Partner and Founding PayPal COO David Sacks. Hosted by brunchwork. Use code TECHNYC30 for 30% off. (Details)

  • March 31: Webinar: Weathering 2008 & Now, with Bank of America. Hosted by Work-Bench. (Details)

  • April 1: Virtual: What Startups Should Know About Federal Small Business Loans, with Dentons. Hosted by Newlab. (Details)

  • April 2: Webinar: The Economy Under COVID-19, with former U.S. Department of Labor and Commerce leaders. Hosted by FiscalNote. (Details)

  • April 3: Virtual: The Combine Demo Day, featuring the Combine 2020 cohort. Hosted by the NYC Media Lab. (Details)

Spring cleaning during a pandemic:

  • 5 quarantine-friendly spring cleaning tips (USA Today)

  • 21 way to disinfect your home during COVID-19 (Entrepreneur)

  • These common household products can destroy the novel coronavirus (Consumer Reports)

  • Why you should spring clean every room of your home during the pandemic (Forbes)

  • And when in doubt, follow the CDC’s guidance (CDC)

When In Doubt

Check these sources for verified information from government agencies and public health authorities: