Tech:NYC Digest: November 23

Tech:NYC Digest: November 23

November 23, 2021 • Estimated Reading Time: 10 minutes

Tuesday, November 23, 2021

In today’s digest, state partial vaccination rate for adults hits 90 percent, the Macy’s Thanksgiving Day Parade officially ushers in the holiday season, and companies rethink the 40-hour workweek.

  • 🥧 Programming note: the digest will take a short break for the Thanksgiving holiday. We’ll talk to you next week, and in the meantime, your last-minute recipe ideas are welcomed!

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  • According to CDC data cited by Gov. Hochul, 90 percent of New York adults have now received at least one dose of the vaccine. (NY1)

  • The US is not planning reinstated lockdowns like the ones facing European countries, even though coronavirus cases are again rising with the arrival of winter. (Washington Post)

    • That includes NYC, where new cases are up about 55 percent in the last two weeks. Hospitalizations are also beginning to nudge back upward, according to the NYC Dept. of Health. (THE CITY)

    • Officials are pushing vaccinations — and especially booster shots — to prevent a surge this holiday season like we saw last year.

  • NYC is poised to pass the “Our City, Our Vote” bill next month, which would allow 800,000 noncitizen New York residents with legal status to vote in municipal elections. (New York Times)

    • The legislation will make NYC the largest municipality in the country to allow noncitizens to vote.

  • Two-in-three Americans will celebrate Thanksgiving with friends or family outside their immediate households, and about half of those say their gatherings could include unvaccinated people, according to the latest Axios/Ipsos Coronavirus Index. (Axios)

  • The Macy's Thanksgiving Day Parade will return to its full, traditional route this year — with a few pandemic-related guidelines in place. (NBC New York)

    • If you aren't catching the floats and balloons in person, here’s how to stream the broadcast. (Entertainment Tonight)

In other reading:

  • The Holiday Travel Crush Has Begun. Are the Airlines Up to It? (New York Times)

  • This online tool shows the chances someone at your Thanksgiving gathering as COVID-19 (Fast Company)

  • You’re getting a COVID-19 booster. How about 2022 and beyond? (Fast Company)

The rise of hybrid and remote work due to the pandemic may actually accomplish what company executives and workforce experts haven’t been able to figure out for decades — how to make flexible work work. (New York Times)

  • The four-day workweek, mandatory PTO, flexible Fridays, company-wide weeks off — tech companies have experimented with all of these to help their employees alleviate job stress and burnout.

Companies ranging from Kickstarter to Bolt to Shake Shack have experimented with the four-day workweek or plan to do so in 2022.

  • Under the right conditions, research suggests a small cut in hours can boost employee wellbeing while still maintaining productivity.

  • It should come as little surprise that employees like the idea: One survey found 83 percent thought a shorter workweek would help with burnout. (CNBC)

Others are adopting a modified version of the four-day workweek.

  • Elephant Ventures employees still put in 40 hours a week — just over the course of four days instead of five. CEO Art Shechtman said that by scheduling deliberate times for lunch breaks and uninterrupted work, his employees were on board for the longer days in order to gain a longer weekend. See more about their approach here.

Instead of tinkering with policies on work arrangements, more companies are letting workers set their own hours altogether.

  • A new survey of senior managers at finance and tech companies found 41 percent allow staff to set their own hours, and 27 percent of those respondents don’t mind if their direct reports put in fewer than 40 hours a week, as long as their jobs get done.

Our takeaway: The approach is less important than the fact that your team has one. Time away from your inbox is important — and as companies see post-pandemic office life come into more focus, now’s the time to make flexibility a more permanent part of work going forward.

In other reading:

  • Work From Home Works Until You Need Time Off (The Atlantic)

  • The Tech Gifts That Are Hard to Buy This Holiday Season (New York Times)

  • Gemini, a New York City-based cryptocurrency platform, raised $400 million in a growth equity round, its first-ever outside financing. Morgan Creek Digital led the round and was joined by 10T, ParaFi, Newflow Partners, Marcy Venture Partners, and the Commonwealth Bank of Australia, among others. (Forbes)

  • Mosaic Foods, a Brooklyn-based veggie bowl maker, raised $6 million in seed funding. Gather Ventures led the round and was joined by Greycroft and Alleycorp. (TechCrunch)

  • Verbit, a New York City-based AI-powered platform for transcription and captioning purposes, closed $250 million in Series E funding. Third Point Ventures led the round and was joined by Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next, and TCP. (TechCrunch)

  • Up&Up, a New York City-based startup for renters buildings towards homeownership or savings, raised $275 million in venture funding. Khosla Ventures led the round and was joined by Founders Fund, Goldman Sachs, L2 Point Management, and Rialto Capital. (Forbes)

Fast Forward is accepting applications for its 2022 Accelerator program. The program is seeking tech nonprofit startups that are building products with a social impact. Awardees receive $25,000, as well as training, mentorship, and pitch opportunities with social entrepreneurs and industry experts. Learn more and apply by Dec. 1 here.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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