Tech:NYC Digest: April 17

Tech:NYC Digest: April 17

April 17, 2023 • Estimated Reading Time: 7 minutes

Monday, April 17, 2023

In today’s digest, the finish line is in sight for the New York state budget, what’s next for the Penn Station facelift, and why your next boss may pay you to move closer to the office.

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  • Negotiations to approve a final state budget are still ongoing, but reports today indicate an agreement on one of the final sticking points — reforms to the state’s bail reform law — is all but complete, making it more likely the budget gets passed into law later this week. (City & State)

  • The US House Judiciary Committee held what it’s calling a “field hearing” in Manhattan today on crime and public safety in NYC.

    • Mayor Eric Adams blasted Judiciary Committee chairman Rep. Jim Jordan for the convening. (CBS New York) Borough President Mark Levine noted that FBI data indicates the number of annual major crimes per 1,000 residents in NYC is 40.6. In Ohio, Rep. Jordan’s home state, it’s 58.4.    

  • A report released today by New York’s chief fiscal officer found that the state took in almost $3 billion more in tax revenue than expected in the fiscal year that ended on April 1. (State of Politics) (Cue yet another ‘New York is back’ proof point.)

In other reading:

  • What to know about Arcturus, a new coronavirus subvariant the WHO is tracking (Washington Post)

  • This Penn Station Plan May Be the One Everyone Can Live With (Curbed)

  • The free picnic performances returning to Bryant Park this summer (Time Out New York)

The latest sign that employers really do want workers back in the office: relocation benefits are making a comeback, writes the Wall Street Journal. 

  • Job postings mentioning relocation benefits were up 75% in February over the year prior, according to Indeed.com. ZipRecruiter said postings on its platform offering relocation money have recently doubled to 3.8 million, after falling under two million in 2020.

On the other hand: The tide hasn’t fully turned on remote work.

  • New research suggests it’s a misconception that working synchronously is better for creativity. Asynchronous work has been a new workplace mode many companies had to embrace out of necessity, but the research shows it’s proven beneficial to cultivating “safe communication climates” that particularly benefit women and other underrepresented people at work. (Harvard Business Review)

In other reading:

  • Axle, a NYC and Atlanta-based API for insurance data, raised $4 million in seed funding. Gradient Ventures led the round.

  • Earned, a NYC-based digital financial advisory service for physicians, raised $12 million in Series A funding. Hudson Structured Capital Management led the round.

  • Lux Capital, a NYC and Menlo Park-based venture capital firm, raised $1.15 billion for a fund focused on hard science and deep technology companies.

  • Meadow, a NYC-based financial platform for students, raised $3.5 million in seed funding. Susa Ventures led the round and was joined by AlleyCorp, Giant Ventures, Treble Capital, and others.

  • April 18: In-person: Building a Food Tech Startup, with Helaina CEO Laura Katz, Swoon co-CEO Jennifer Ross, and Rind Snacks CEO Matt Weiss. Hosted by Stacklist and betaworks. Register here.

  • April 20: Virtual: #notapitch: Unofficial Feedback on Your Idea/Prototype from a VC, with Brooklyn Bridge Ventures partner Charlie O’Donnell. Register here.

  • April 25: In-person: Cornell Tech @ Bloomberg speaker series, featuring Ramp co-founder and CEO Eric Glyman. Hosted by Tech:NYC, Bloomberg, and Cornell Tech. Register here.

  • April 27: In-person: Exploring Generative AI in NYC. Hosted by Drive Capital and Company Ventures. Register here. 

  • April 27: Virtual: Mock Term Sheet Negotiation, with Culina Health co-founders Vanessa Rissetto and Steven Kuyan, Goodwin partner Jesse Nevarez, Graham & Walker CEO Leslie Feinzaig, and others. Hosted by the NYU Tandon Data Future Lab. Register here.

  • May 3: In-person: How to Validate Your MVP, with Interplay partner Phuong Ireland, Work-Bench investor Daniel Chesley, and Innovatemap CEO Mike Reynolds. Hosted by Innovatemap. Register here.

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