Tech:NYC Digest: May 3

Tech:NYC Digest: May 3

May 03, 2022 • Estimated Reading Time: 9 minutes

Tuesday, May 3, 2022 

In today’s digest, New Yorkers react to leaked SCOTUS decision overturning Roe, Gov. Hochul picks Rep. Antonio Delgado as her running mate, and how tech companies are moving to protect abortion rights. 

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By the numbers:  

  • New positive cases statewide: 6,129         

    • New positive cases, NYC: 2,566

  • NYC Positivity Rate: 4.2 percent (+0.1 percent)

  • Statewide Vaccine Progress: 

    • New Yorkers with at least one dose: 90.2 percent

    • New Yorkers who are fully vaccinated: 76.9 percent

In today’s latest:

  • New York public officials and leaders across the country are reacting to the leaked Supreme Court opinion that, pending a final decision, may amount to a full overturn of constitutionally protected rights to abortion.

    • Abortion rights are codified in state law by the 2019 Reproductive Health Act and won’t be rescinded in New York, but “trigger” laws in 13 states and extreme proposals in at least ten others threaten access across much of the rest of the country. (NBC News)

    • Both Gov. Kathy Hochul and Mayor Eric Adams said the state would welcome those seeking services “with open arms” and vowed that abortion will always be “safe and accessible in New York.” State providers are preparing for an influx of out-of-state patients if Roe v. Wade is overturned. (Gothamist)

    • Grassroots organizers announced a rally in Foley Square beginning at 5pm today, during which several elected officials and other advocacy leaders will be in attendance.

  • A day after Albany lawmakers moved to allow Gov. Hochul to pick a replacement running mate following Brian Benjamin’s resignation, Hochul has named Rep. Antonio Delgado as her new lieutenant governor. (New York Times)

  • Unvaccinated people no longer account for the overwhelming majority of deaths in the US. In recent months, the deaths of vaccinated elderly and immunocompromised people, who have a harder time dodging new variants, have increased. (Washington Post)

  • At 2.7 million square feet leased in April, Manhattan’s monthly office leasing activity has decreased by 11.5 percent since March, according to a report by Colliers. However, demand is still more than double compared to last year. (Crain’s New York Business)

In other reading:

  • Donate to an Abortion Fund Right Now (The Cut)

  • You Were Right About COVID, and Then You Weren’t (The Atlantic)

  • When the Best Part of Going Out Is the Late-Night Snack (New York Times)

Like the rest of the country, reactions to the draft opinion overturning Roe v. Wade are pouring in from tech and business leaders. (New York Times)

  • The news adds to measures already playing out in states like Texas, where a restrictive abortion law led Apple, Citigroup, Yelp, and others to provide travel reimbursements to employees seeking abortion care out-of-state.

  • Uber and Lyft also reacted to the Texas law by pledging to cover legal fees for drivers sued for providing transportation to women seeking abortions. Both companies have extended the same coverage to drivers in Oklahoma after it passed a similar law. (The Verge)

  • Amazon has also announced it would provide up to $4,000 in similar expense reimbursements to its staff, and Salesforce is covering relocation fees for employees wishing to move out of states with restrictive laws.

In New York, abortion rights aren’t under threat because they’re protected under state law, but NYC-based companies are also speaking out.

Maven, which became the first US unicorn in the women’s and family health space last year, sent a note to its entire team this morning: 

  • “To deny access to basic healthcare is to deny a fundamental human right [...] Particularly here, we have an opportunity to stand up for what’s right and continue expanding access to care through the exceptional product we’ve built and the exceptional team we’ve assembled,” wrote founder and CEO Kate Ryder.

Our takeaway: Tech:NYC firmly believes that women’s and reproductive rights are not only fundamental human rights, but also a vital part of building an inclusive and high-functioning economy. Full reproductive care, together with expanded medical, maternity, and fertility benefits, will be key to the workplace of the future.

In other reading:

  • How US Companies Are Supporting Workers on Abortion (Bloomberg)

  • You Don’t Need a New Job to Get a Big Raise (Washington Post)

  • How To Rethink Where You Get Work Done (Inc.)

  • Accern, a NYC-based AI for analyzing online financial documents and conversations about companies, raised $20 million in Series B funding. Mighty Capital led the round and was joined by Tribe Capital, Shasta Ventures, Gaingels, and Fusion Fund. (TechCrunch)

  • Capable Health, a NYC-based app-building platform for virtual care startups, raised $6 million in seed funding. M13 led the round and was joined by AlleyCorp and Able Partners. (Newswire)

  • Catalio Capital Management, a NYC-based life sciences investment firm, raised $381 million for its third VC fund. (Wall Street Journal)

  • HOF Capital, a NYC-based VC firm, raised $300 million for its second fund, focusing on pre-seed through Series A companies. (TechCrunch)

  • May 4: Virtual: The Future of New York series, with Tech:NYC executive director Jason Myles Clark and Capalino president Travis Terry. Hosted by Capalino. Register here.

  • May 5: Virtual: Tech regulation beyond big tech, with Consumer Technology Association SVP Michael Petricone, Small Business Majority director Awesta Sarkash, and others. Hosted by Protocol. Register here.

  • May 10: Virtual: #newtovc: Deal Sourcing, BBG managing partner Nisha Dua, FirstMark Capital managing partner Matt Turck, Brooklyn Bridge Ventures partner Charlie O’Donnell. Hosted by Brooklyn Bridge Ventures. Register here. 

  • May 11: In-person & virtual: Investing to Combat Climate Change, with Union Square Ventures investor Mona Alsubaei, Softbank Energy investor William Layden, Breakthrough Energy Ventures investor Stefan Zlatev, and others. Hosted by Betaworks Studios. Register here.

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