Tech:NYC Digest: December 8

Tech:NYC Digest: December 8

December 08, 2021 • Estimated Reading Time: 9 minutes

Wednesday, December 8, 2021

In today’s digest, COVID-19 turns 2, NYC vaccine mandate for municipal workers is temporarily suspended, and how companies can reduce bias by conducting pay audits.

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By the numbers:

  • New positive cases statewide: 9,833

    • New positive cases, NYC: 1,990

  • NYC Positivity Rate: 2.4 percent (+0.1 percent)

  • Statewide Vaccine Progress:

    • Percentage of adults (18+) with at least one dose: 91.9 percent

    • Percentage of total population with at least one dose: 79.5 percent

Today in COVID: 

  • For those keeping track: Today marks exactly two years since the first known patient experienced symptoms later identified as those of COVID-19. (Axios)

  • Pfizer said today that new laboratory tests suggest three doses of their coronavirus vaccine offer significant protection against the Omicron variant. (NBC News)

    • Blood samples from those who received only two doses saw on average a 25-fold drop in antibodies against the new variant, and scientists are pointing to the results to convey the importance of booster shots.

  • On the heels of Mayor de Blasio’s Dec. 27 vaccine mandate for all private-sector workers, a New York state judge has temporarily suspended the enforcement of New York City’s COVID-19 vaccine mandate for municipal workers. (Wall Street Journal)

  • As of today, hospitalizations in New York state due to the coronavirus are up 14 percent, making it one of six states to account for over half of the nation’s increase in hospital beds filled. (NBC New York)

  • Heads up to parents: NYC’s vaccination records app has been updated to allow parents to also store their children’s proof of vaccination, as well. The app is available for iPhone here and Android here.

In other reading:

  • Covid-Era Travel Risks Are Changing: What to Consider So You Don’t Get Stranded (Wall Street Journal)

  • The Pandemic Has Your Blood Pressure Rising? You’re Not Alone. (New York Times)

  • Why New York State Is Experiencing a Bitcoin Boom (New York Times)

There’s been a lot written in the last year about how the pandemic has given employees more power over their jobs and how companies respond to their preferences. And according to a new survey, that also applies to pay.

A new study by the Conference Board found the average American worker is set to receive the largest one-year pay bump since 2008. (Insider)

  • The survey estimates the budget for raises in 2022 will hit 3.9 percent next year. 

  • The increases in 2021 salaries were largest for younger workers and those who switched jobs in the past year. Nearly half of surveyed businesses — 46 percent — said higher wages for new hires were a factor in higher salary budget estimates.

Some employers say the bump is caused by a labor shortage, but others cite decades of declining wages to argue instead that it’s a post-pandemic pay shortage. 

Salary offerings — and compensation packages more broadly that include guaranteed raises, signing bonuses, and other benefits — have become even more important for companies struggling to retain talent.

  • You might remember that in 2015, Marc Benioff famously signed off on a salary review of every employee at Salesforce.

But in an ever-competitive bidding war for talent, companies should be careful that their offers don’t create longer-term pay gaps among their workforces.

That’s where pay audits come in. And it involves more than a “nice green compliance checkmark,” as pay equity software marker Syndio CEO Maria Colacurico says.  

HR experts spoke to Protocol about the best ways for companies to conduct pay audits — and how to be transparent about the findings with employees.

  • In short, group employees based on the work they do, analyze the data across groups, and identify where bias enters the equation.

In other reading:

  • Can NYC actually enforce the first COVID-19 vaccine mandate for private employers? (Fast Company)

  • Work-Life Balance Finally Happened. Then They Were Called Back to the Office. (Wall Street Journal)

  • Omicron’s crashing the company holiday party (Morning Brew)

  • Arch, a New York-based private investment communications platform, raised $5.5 million in seed funding. Craft Ventures led the round and was joined by several prominent angels. (TechCrunch)

  • Circle, a New York-based community engagement platform for creators, raised $24.7 million in Series A funding. Tiger Global led the round and was joined by Box Group, Notation Capital, and individual investors. (TechCrunch)

  • Claroty, a New York-based industrial cybersecurity company, raised $400 million in Series E funding. SoftBank, Bessemer Venture Partners, and Schneider Electric co-led the round and were joined by Istari, Team8, and Standard Investments. (VentureBeat)

  • Therify, a Brooklyn-based mental health startup focused on marginalized populations, raised $1.3 million in seed funding. Participating investors include SoftBank, Looking Glass Capital, YC, Flexport, True Culture Fund, and K5 Global. (TechCrunch)

Company Ventures, in partnership with the NYC Economic Development Corporation, is seeking applications for the inaugural City Fellowship. The fellowship offers a nine-month program to support community-oriented entrepreneurs with access to the government and venture communities and business development opportunities. Learn more and apply by Dec. 19 here.The Financial Solutions Lab is accepting applications for its 2022 Accelerator Challenge. The 2022 program is seeking participation from fintech companies with ideas to strengthen financial resilience and improve safety nets for low-to-moderate income, Black, and Latinx communities. Awardees receive $100,000, as well as product, mentorship, and marketing support. Learn more and apply by Dec. 20 here.The David Prize is accepting open call submissions for its 2021-2022 cycle. The prize awards a no-strings-attached $200,000 grant to five New Yorkers with ideas, projects, products, and passions that are making (or will make) New York City a better place for more of us. Nominations or self-nominations are being accepted through Dec. 21 here.The New York Fashion Tech Lab is accepting applications for its 2022 program. The Lab is seeking women-led, B2B, fashion and retail-focused technology companies with ideas for advancing the industry. Learn more and apply by Dec. 30 here.

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