Tech:NYC Digest: December 2

Tech:NYC Digest: December 2

December 02, 2021 • Estimated Reading Time: 10 minutes

Thursday, December 2, 2021

In today’s digest, out-of-state traveler likely brings Omicron to NYC, Pres. Biden announces new winter COVID strategy, and Manhattan office market scores its best month since pandemic began.

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By the numbers:

  • New positive cases statewide: 11,300

    • New positive cases, NYC: 1,437

  • NYC Positivity Rate: 2.1 percent (+0.2 percent)

  • Statewide Vaccine Progress:

    • Percentage of adults (18+) with at least one dose: 91.0 percent

    • Percentage of total population with at least one dose: 78.4 percent

Today in COVID:

  • City and state officials now believe the Omicron variant has arrived in New York.

    • There are still no confirmed cases of Omicron in the state, but a Minnesota resident tested positive for Omicron after traveling to NYC for a convention at the Javits Center just before Thanksgiving. (New York Daily News)

    • Omicron or not, New York’s cases are trending up again. Today’s count of new positive cases statewide is the highest reported since January. (Bloomberg)

  • The White House is taking new steps to guard against an expected winter surge in cases, especially from Omicron-related transmission. (New York Times) Pres. Biden announced a strategy that includes:

    • Requiring health insurers cover the cost of at-home COVID testing, with 50 million additional tests being distributed for free to individuals without private insurance. (Axios)

    • Launching hundreds of family vaccination clinics for adults and children to get boosters and initial vaccinations at the same time.

    • Requiring inbound international travelers to test within one day of departure, regardless of vaccination status or nationality.

    • Extending the federal mask mandate for airplanes, trains, and other public transit through mid-March. (Axios)

  • The WHO’s chief scientist has said current vaccines are likely to be effective against severe cases of the Omicron variant, but cautioned more data is still needed before we know exactly how much, if any, loss of protection there is against the new strain. (Bloomberg)

In other reading:

  • Is New York Ready for the Omicron Variant? (New York Times)

  • The Coronavirus in a Tiny Drop: Look at this atomic simulation of the virus nestled in a single airborne drop of water (New York Times)

  • Hanging On: Four Iconic NYC Restaurants, Two Years into the Pandemic (Eater NY)

Two years into the pandemic, have workers finally had enough of WFH? If the commercial real estate market is any indication, companies are betting on it:

  • Last month, Manhattan’s office market saw its strongest leasing month since the pandemic began, with more than three million square feet of space leased. (Crain’s New York)

  • Tech had a strong showing: In Midtown South, the largest new lease was signed by insurtech company Chubb, and downtown, the largest lease went to BarkBox, the pet-focused e-commerce company that went public earlier this year.

On the heels of Google’s $2.1 billion purchase of St. John’s Terminal this fall — a national record transaction during the pandemic — and similar office expansion plans from Facebook and startups like Chainalysis and CLEAR, tech has shown a clear commitment to the NYC’s talent pool.

Despite concerns over new variants, Twitter is charging ahead with office reopenings:

  • The company announced it will reopen its New York and San Francisco offices on Monday “at reduced capacity.” All employees opting to return are required to show proof of vaccination.

  • But WFH is still an option too: “While opening our offices is our decision, when and if our employees come back will be theirs. So if our employees are in a role and situation that enables them to work from home indefinitely if they wish or split their time between their home and the office, we will support that."

It’s another example that office culture isn’t completely dead:

  • Wise, the UK-based fintech company that became the largest tech listing on the London Stock Exchange earlier this year, is moving its New York office into a new, larger space.

  • It’s also planning to hire another 150 people in three US markets in 2022, including NYC.

  • The new office in the NoMad neighborhood is being designed as an open, collaborative hub for its NYC employees, but also as a flexible space for colleagues visiting from other offices. 

Our takeaway: These office trends are encouraging for the long-term success of New York, but the short-term reality is we still know very little about the Omicron variant. That means we know even less about its impact on RTO plans. Nevertheless, this is a good time for companies to reiterate (or revisit) their workplace safety plans as we look toward 2022.

In related reading: 

  • Pessimists were wrong: A great NYC office exodus didn’t happen (New York Post)

  • Leaders, you have no idea what Gen Z wants at work. Here are the myths, busted (Fast Company)

  • Goalsetter, a New York-based children's financial literacy app, raised $15 million in Series A funding. Seae Ventures led the round and was joined by Fiserv, Mass Mutual, Citizens Financial Group, Astia Fund, and individuals. (TechCrunch)

  • JOKR, a New York-based grocery instant delivery startup, raised $260 million in Series B funding at a $1.2 billion valuation. Existing investors GGV Capital, Balderton, and Tiger Global participated in the round and were joined by Activant Capital, Greycroft, G-Squared, HV Capital, Kaszek, Mirae Asset, Monashees, and Moving Capital. (TechCrunch)

  • Life House, a New York-based provider of boutique hotel management software, raised $60 million in Series C funding. Kayak and Inovia Capital co-led the round and were joined by existing investors Tiger Global, Derive Ventures, Thayer Ventures, JLL, Trinity Ventures, Sound Ventures, and Cooley LLP. (TechCrunch)

  • Shiftsmart, a New York-based workforce and labor management platform, raised $95 million in a Series B round of financing. D1 Capital Partners led the round and was joined by Imaginary Ventures, Spieker Partners, and S12F. (TechCrunch)

  • Smartling, a New York-based provider of enterprise translation software, raised $160 million from Battery Ventures. (VentureBeat)

  • December 6: Virtual: Crypto and Institutional Investors, with Anchorage co-founder and president Diogo Mónica, Paxos head of strategy Walter Hessert, and Canvas Ventures principal Grace Isford. Hosted by Protocol. Register here.

  • December 7: Virtual: 2022 Predictions in Tech: The Roaring 20s, with Tribeca Venture Partners partner Brian Hirsch, Eniac Ventures partner Hadley Harris, 645 Ventures partner Nnamdi Okike, and Work-Bench partner Jessica Lin. Hosted by Tribeca Venture Partners and Fenwick. Register here.

  • December 8 – 9: In-person: AI Summit New York, with 150+ speakers, live exhibitions, and networking events. If you’re an NYC entrepreneur or student traditionally underrepresented in tech, reach out here for a free All-Access Pass.

  • December 9: Virtual: Building in the Open, with Cockroach Labs CEO Spencer Kimball, Solo.io CEO Idit Levine, Timescale CEO Ajay Kulkarni, and others. Hosted by Work-Bench. Register here.

  • December 9: In-person and virtual: Innovations in Tech Education and Workforce Programming and Policy, with Union Square Ventures partner Fred Wilson, Hunter College president Jennifer Raab, Google NYC Tech Site Lead Aparna Pappu, and others. Register here.

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