Tech:NYC Digest: July 14

Tech:NYC Digest: July 14

July 14, 2022 • Estimated Reading Time: 8 minutes

Thursday, July 14, 2022 

In today’s digest, NYC officials call for action on the monkeypox vaccine shortage, how public transit guarantees an inflation-proof commute, and why the Great Resignation may soon become the Great Boomerang.

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By the numbers:  

  • New positive cases statewide: 9,253  

    • New positive cases, NYC: 5,611

  • NYC Positivity Rate (Daily): 8.7 percent

    • NYC Positivity Rate (7-Day Average): 9.1 percent 

In today’s latest: 

  • Nearly 800,000 more doses of the monkeypox vaccine are expected to be ready for distribution in the US by the end of July. (Washington Post)

    • In NYC, soaring demand for the vaccine caused the appointment system to again crash earlier this week. (CBS News)

    • But good news: The next batch of appointment slots will go live tomorrow at 6pm ET. At that time, you can search for a slot here.

  • The FDA has authorized a COVID-19 vaccine developed by Novavax, providing another option for those who have rejected or otherwise were prevented from receiving the mNRA-based vaccines by Pfizer and Moderna due to preexisting health or allergy reasons. (New York Times)

  • Commutes to work are getting significantly more expensive due to rising gas and insurance prices, with NYC ranking most expensive nationally at more than $4,000 this year. (Axios)

    • That is: If you’re driving a car. Our reaction: The cost of an unlimited monthly MetroCard for the year (or taking advantage of the MTA's weekly fare capping program) falls thousands of dollars below that number, as well as the national average!

  • In related transit news: the NYC Ferry is launching a discounted fare program in September for low-income New Yorkers, those age 65 and older, and people with disabilities. (Gothamist)

In other reading:

  • The BA.5 Wave Is What COVID Normal Looks Like (The Atlantic)

  • Trés French Ways to Celebrate Bastille Day in NYC This Year (Time Out NY)

There’s been so much conversation about the Great Resignation over the last two years because it’s pretty confounding: It has exploded potential talent pools and made hiring harder at the same time.

  • Nationwide, about 20 million Americans quit their jobs in the first five months of this year.

But enough movement in the labor market has happened that we’re now beginning to see something we’re calling the “Great Boomerang.” In short: People who left their jobs are coming to regret it and want their old jobs back.

  • According to a new study by AI job-search platform Joblist, more than one-quarter of those who left work are reconsidering whether they made the right move. (Bloomberg)

  • The survey also found that, among those who found a new job after quitting, 42 percent say it hasn’t lived up to their expectations.

This job-hopping has also had other consequences: Burnout among recruiters and hiring managers is increasing, in part, due to candidate pools flush with multiple offers and empowered to make more demands in today’s labor market.

  • Candidates that, for example, accept an offer a day or a week before abruptly withdrawing due to their indecision has repercussions for recruiters: Many aren’t compensated if the person they placed doesn't start a job. And if a new hire leaves early, many recruiters will be on the hook to find a successor.

In other reading:

  • Zoom Is the Junk Food of Human Interaction (The Atlantic)

  • Forget long screen recordings. These tools automate your company’s how-tos (Protocol)

  • The Magic of Your First Work Friends (New York Times)

  • Assembly OSM, a NYC-based off-site manufacturing and construction startup for high-rises, raised $38 million in Series A funding. Fifth Wall Climate led the round and was joined by Jefferies Group, Manta Ray Ventures, FJ Labs, RSE, Signia, Gaingels, Flexport, New Vista Capital, Tectonic, Atento, Etan Fraser, and Moving Capital. (The Real Deal)

  • Capchase, a NYC-based platform providing non-dilutive capital to businesses, raised $400 million in debt financing. The round was led by i80 Group. (Crunchbase News)

  • Stationhead, a NYC-based social music platform, raised $12 million in Series A funding. Participating investors include Buttonwood Group Advisors and a group of individuals. (Newswire)

  • July 18: In-person: New York’s New Jobs Engine: The Launch of Innovation Indicators, with Mayor Eric Adams, Maven founder and CEO Kate Ryder, Harlem Capital co-founder and managing partner Jarrid Tingle, Brooklyn Navy Yard president and CEO Lindsay Greene, and others. Hosted by Tech:NYC and Center for an Urban Future. Register here.

  • July 19: In-person: Bloomberg Crypto Summit, with FTX founder and CEO Sam Bankman-Fried, Uniswap Labs COO Mary-Catherine Lader, Grayscale chief legal officer Craig Salm, and others. Hosted by Bloomberg. Register here.

  • July 20: In-person: The City’s Path to Becoming the World’s Crypto Capital, with New York State Dept. of Financial Services Superintendent Adrienne A. Harris, eToro US CEO Lule Demmissie, Genesis CEO Michael Moro, and others. Hosted by Crain’s New York Business. Register here.

  • July 26: Virtual: Mock Term Sheet Negotiation, with Dollaride founder and CEO Su Sanni, Spotify head of innovation and market intelligence Mauhan Zonoozy, Goodwin partner Peter Fusco, and others. Hosted by NYU Data Future Lab. Register here.

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