Tech:NYC Digest: May 16

Tech:NYC Digest: May 16

May 16, 2023 • Estimated Reading Time: 7 minutes

Tuesday, May 16, 2023

In today’s digest, congestion pricing gets a few tiered tweaks, the new stadium that comes with a 100% affordable housing guarantee, and why workers are happier than they’ve been in decades.

Was this digest forwarded to you? Subscribe here.

  • The MTA hasn’t set specific pricing details for the city’s congestion pricing plan, but most recent proposals suggested $23 for a rush-hour trip (or $17 for off-peak hours) into the tolling zone. (New York Times)

    • Under the final proposal, drivers who earn an annual salary of $50,000 or less will be enrolled in assistance programs that apply 25 percent discounts on trips in tolling zones, among other off-peak and lower-traffic incentives.

  • A new study found that housing a singular family of three in a traditional shelter costs the city $188 per night — and the number climbs to $383 if it’s an emergency hotel shelter. In contrast, the city would spend $72 a night if it gave that same family a housing voucher. (Gothamist)

  • A new soccer-specific stadium is coming to Queens, a project which also will include 40,000 square feet of open public space, a school, retail shops, and 2,500 affordable housing units. (CNN)

In other reading:

  • A guide to Korean food in Queens, from BBQ to gimbap (Gothamist)

  • Developing Governors Island in Order to Save It (Curbed)

  • Inside the Last Old-School Seltzer Shop in New York (New York Times)

Americans haven’t been this happy at work since the 1980s, writes the Wall Street Journal.

  • New survey data shows job satisfaction is at a 35-year high, pushing back on popular narratives that workers are “quiet quitting” or putting in less effort in the hybrid work environment.

The survey measured satisfaction by asking a set of questions across 26 different metrics, everything from pay to work-life balance to promotions and benefits. Here’s some results that stood out:

  • Satisfaction across nearly all measures increased in 2022 from the year before.

  • The biggest gains were in work-life balance — 60% said they were happy on that measure compared to 54% the year before.

  • The strong labor market played a bigger role: People who switched jobs recently saw the biggest jumps in work satisfaction.

  • Women are less satisfied than men: 51% of women were happy with their company’s sick day policy compared to 60% of men.

Our take: Tech companies spent a lot of time and resources to up their offerings in an effort to attract and retain talent during what was a fire-hot labor market through the pandemic. This data points makes the point they should keep them more permanently moving forward.

In other reading:

  • Why Some Companies Are Saying ‘Diversity and Belonging’ Instead of ‘Diversity and Inclusion’ (New York Times)

  • Forget productivity — stop fighting deadlines. This is the factor managers should focus on (Fast Company)

  • Tech policy adviser Kate Wittels on why it’s important for innovation to ‘breathe’ (Crain’s New York)

  • Avenue One, a NYC-based real estate management platform provider for institutions, raised $100 million. WestCap led, and was joined by MetLife Investment Management.

  • Integrated Projects, a NYC-based digitization services provider for building owners and design professionals, raised $3 million in seed funding. 186 Ventures led the round and was joined by Founder Collective, Connexa Capital, Four Acres Capital, and others.

  • Wellthy, a NYC-based digital concierge for caregivers, raised $25m co-led by insiders Hearst and Eldridge. Other backers include Citi Impact Fund, Cercano Management, Stardust Equity and ReThink Impact.

  • May 23: In-person: AAPI Founders, Funders & Friends, a rooftop party for senior business and tech leaders hosted by Andrew Yeung. Apply to attend here.

  • May 25: In-person: Building with A DEI Lens, featuring Mathison founder Arthur Woods and The Venture Collective general partner Cat Middleton. Hosted by Company Ventures. Register here.

  • May 30: In-person: Cornell Tech @ Bloomberg speaker series, featuring Duolingo co-founder and CEO Luis von Ahn. Hosted by Tech:NYC, Cornell Tech, and Bloomberg. Register here.

  • June 1: In-person: A fireside chat with Federal Trade Commission Chair Lina Khan on Antitrust, AI, and Innovation. Hosted by Bradley Tusk. Register here.

Any feedback or suggestions of things to add? Get in touch here. Was this digest forwarded to you? Sign up to receive it directly here.