Tech:NYC Digest: September 14

Tech:NYC Digest: September 14

September 14, 2023 • Estimated Reading Time: 6 minutes

Thursday, September 14, 2023

In today’s digest, pay transparency laws are working, NYC’s new e-bike safety incentive program, and last call on early-bird tickets for our Tech Summit next month.

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  • The NYC Council voted to pass legislation that will allow delivery workers and other e-bike users to trade in old lithium-ion batteries that don’t meet safety standards for new, certified batteries at reduced or no cost. (New York Times)

  • New York saw near-record rents last month, but rates appear to be leveling off after several consecutive months of rising rents. However, real estate experts expect rents to remain “elevated” through the end of the year rather than decrease. (New York Daily News) 

  • And the Feast of San Gennaro returns next week!

In other reading:

More than half of job listings on Indeed.com now include salary information, the highest share yet, according to new data from the website this morning. (Axios)

That’s thanks to states like New York: An increase in state pay transparency laws has pushed more employers to disclose salary ranges in job listings — in New York state, 61% of job postings now include salary information, double the number at the this time last year.

  • New York’s statewide pay transparency law goes into effect on Sunday, and NYC’s law went into effect last year.

Pay transparency laws have already proven effective in shrinking the gender pay gap and driving higher rates of applicants.

  • The top reason tech workers cite for not moving forward in completing an application is not knowing compensation details.

What’s next: Employers and job candidates alike will be looking for some consensus on how to standardize salary bands.

  • Another recent Indeed study found that some of the highest-paying professions — including software development — had ranges that were widening the fastest in the past 12 months.

In other reading:

  • Hearth, a NYC-based family management tech startup, raised $4.7 million in new funding. Participating investors include Female Founders Fund, Stellation Capital, Sweater Ventures, Behind Genius Ventures, Dream Ventures, and Ingeborg Investments.

  • Movement Labs, a NYC-based company designing blockchains to make communication between chains easier, raised $3.4 million in pre-seed funding. Varys Capital, dao5, Blizzard, The Avalanche Fund, and Borderless Capital co-led the round and were joined by Colony, Interop Ventures, Elixir Capital, BENQI, and others.

  • Reverie, a NYC-based crypto advisory, launched a $20 million VC fund focused on pre-seed and seed stage crypto companies.

  • September 20: In-person: Fundraising in Today’s Market When You Don’t Fit the Traditional Mold, with New Age Capital managing partner Ivan Alo, One Way Ventures partner Lex Zhao, Vesey Ventures founding partner Julia Huang, and Zeal Capital Partners investor Evelysse Vargas. Hosted by FirstGen and Free Agency. Register here.

  • September 21: In-person: New Climate Futures, with Revel CEO Frank Reig, Brooklyn Navy Yard CEO Lindsay Greene, Activate co-founder Matt Price, and more. Hosted by Newlab. Register here.

  • September 29: In-person: AcceleratorCON 2023, with The Muse founder Kathryn Minshew, Founders Village CEO Yasmeen Butt, and others. Use code “AC23013%” for 30% off tickets by registering here.

  • October 11: In-person: 2023 Tech Summit, featuring CLEAR CEO Caryn Seidman Becker, Esusu Co-CEO Wemimo Abbey, US Senator Kirsten Gillibrand, and others. Hosted by Tech:NYC and Crain’s New York Business. Get early-bird tickets before Sept. 15 by registering here.

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