DIRS.INFO The most relevant business & tech news

☆ Hundreds of startups face a crippling cash crunch and an 'extinction-level event' if no one buys Silicon Valley Bank by Monday
▼ + stars: | 2023-03-11 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

Silicon Valley Bank's collapse has left hundreds of startups facing a cash crunch and payroll crisis. It leaves hundreds of startups that deposited their cash with the bank in turmoil, as they try to continue operating while millions in funds are locked up. Startups scramble for cashThe need for startups to make payroll is one being echoed across the VC ecosystem. In a tweet, founder Nikita Bier said: "The number of growth stage companies that had their cash at SVB is huge. Even startups that didn't bank directly with SVB have been hit by its collapse.

☆ Who will step up to buy SVB? The white knight might be a bank outside Wall Street.
▼ + stars: | 2023-03-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

SVB Bank, which catered to startups and tech founders, imploded in three days after a run on the bank. SVB Financial is reportedly looking to find a buyer by Monday. The implosion of Silicon Valley Bank means a working weekend for some bankers. SVB Financial Group is on the hunt for a buyer after regulators closed its Silicon Valley Banking business, according to Bloomberg. Though SVB's bond losses are taking up the headlines, its parent company SVB Financial has two business segments that are enticing.

☆ The push for a bitcoin ETF is going to court. Here's what you need to know
▼ + stars: | 2023-03-06 | by ( Jesse Pound | ) www.cnbc.com time to read: +6 min

The years-long push for an exchange traded fund that tracks bitcoin will finally get its day in court this week. Several different firms tried to bring a spot bitcoin ETF to market in the U.S. without success, but Grayscale Investments is taking it a step further for the future of its Grayscale Bitcoin Trust (GBTC) . The largest of those funds, the ProShares Bitcoin Strategy ETF (BITO) , now has nearly $800 million in assets under management. Over the past year, the market price of a GBTC share has fallen by roughly 60%, according to Grayscale's website. Crypto winter The excitement around a bitcoin ETF has cooled considerably along with the prices for crypto markets in general.

☆ The racial retirement savings gap remains wide – How these state IRA programs are working toward equity
▼ + stars: | 2023-02-28 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Indeed, about 64% of Hispanic workers, 53% of Black workers and 45% of Asian American workers have no access to a workplace retirement plan, according to AARP. State-facilitated individual retirement account savings programs have stepped in to attempt to close that racial savings gap. As of the end of January, there were more than $735 million in assets in these state-facilitated retirement savings programs, the center found. How it worksRather than competing against large corporate retirement plans, state-facilitated retirement savings programs turn their focus toward an underserved corner of the market: small businesses. Most of these state programs require businesses to either offer a workplace retirement plan or to help automatically enroll their workers into the state's program.

☆ U.S. will create at least two semiconductor manufacturing clusters by 2030, Commerce Secretary Gina Raimondo says
▼ + stars: | 2023-02-23 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on Capitol Hill in Washington, D.C., U.S., February 1, 2022. WASHINGTON — The U.S. will use funds from the $52 billion CHIPS and Science Act to create at least two large-scale logic fabs for the manufacture of semiconductors, along with multiple high-volume advanced packaging facilities, by 2030, Commerce Secretary Gina Raimondo announced Thursday. U.S.-based manufacturing plants, known as "fabs," will produce advanced memory chips "on economically competitive terms," Raimondo said. "This is fundamentally a national security issue," she said. The Commerce secretary reiterated the government's plans to invest $11 billion in what it calls a National Semiconductor Technology Center.

☆ Instead of paying adults more, some states might let companies hire kids as young as 14 to fill the labor shortage
▼ + stars: | 2023-02-13 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +7 min

Republicans in some states are proposing exceptions to child labor regulations. Lawmakers in Iowa and Minnesota have introduced legislation in the last month proposing exceptions to child labor regulations in their respective states, due to the persisting labor shortage hitting them particularly hard. "A lot of the child labor jobs are menial jobs and those skills aren't transferrable," she said. The proposed laws skirt around the child labor requirements outlined by the Fair Labor Standards Act of 1938. Research shows that these workers aren't averse to meatpacking work entirely — they're just not willing to do it for the current wage standard.

☆ As state-run retirement programs become more popular, participants are expected to have $1 billion in savings this year
▼ + stars: | 2023-01-15 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

Within the last decade, 16 state legislatures have adopted retirement-savings programs targeting workers whose employers don't offer a 401(k) plan or similar option. Contributions to Roth accounts are not tax-deductible, as they are with 401(k) plans or similar workplace options. "We've seen a growth of new 401(k) plans in those states that have adopted auto-IRAs," said John Scott, director of Pew's retirement savings project. Limitations to the state programsThere are limitations to the state programs. For example, they do not provide a matching contribution as many 401(k) plans do.

☆ Zelenskyy's TIME Person of the Year Award is proof that resilience is the most important trait any leader can have
▼ + stars: | 2022-12-07 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +12 min

He embodies valor and resilience, traits business leaders should exhibit in tough times. The Ukrainian leader's speaking style is characterized by short sentences, vivid imagery, and empathy, all of which make him effective. A 2021 research paper published in the Academy of Management Journal found business leaders who led by example boosted productivity in their businesses. Some of the most convincing business leaders of our time have leaned into emotion when making key arguments. "President Zelenskyy remains focused on his core assignment.

☆ Mindfulness meditation reduces anxiety as much as a common antidepressant drug, study finds
▼ + stars: | 2022-11-09 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Mindfulness meditation is as effective at reducing anxiety as a commonly prescribed antidepressant, according to a study published in a major journal on Wednesday. The study, led by researchers at Georgetown University Medical Center, is the first randomized clinical trial to compare the effectiveness of mindfulness meditation with the antidepressant escitalopram. There were 102 patients in the mindfulness group and 106 in the antidepressant group. Dr. Elizabeth Hoge, lead author on the study, said the findings support physicians recommending mindfulness meditation as an alternative to antidepressants for some patients. Hoge, who is director of Georgetown University's Anxiety Disorders Research Program, said the study also provides evidence for insurers to cover mindfulness meditation as a treatment for anxiety.

☆ Elon Musk brainstorms plans for how payments could work on Twitter
▼ + stars: | 2022-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

A video grab taken from a video posted on the Twitter account of billionaire Tesla chief Elon Musk on October 26, 2022 shows himself carrying a sink as he enters the Twitter headquarters in San Francisco. During the broadcast, Musk described how Twitter plans to "enable monetization for creators" but it needs to do so in a manner that's "competitive with the alternatives" to entice them. "Now we can say like, okay, you've got a balance on your account, do you want to send money to send money to someone else within Twitter?" If people want to "exit out of the system" they will be able to transfer their Twitter balance if they have attached authenticated bank accounts to their Twitter accounts, he explained. As Musk sketches out his plans for Twitter, shares in Tesla , where he is also CEO, closed at their lowest point since Nov. 2020.

☆ Elon Musk took over a struggling business with Twitter and has quickly made it worse
▼ + stars: | 2022-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +9 min

In this article TWTR Follow your favorite stocks CREATE FREE ACCOUNTThe Twitter profile page belonging to Elon Musk is seen on an Apple iPhone mobile phone. watch nowCompared to larger rivals Facebook and Google , Twitter never managed to develop an online ad business that matched the scale of its influence in popular culture and society at large. Twitter's revenue in the second quarter declined from a year earlier. Other opportunities are emerging, such as connected TVs and streaming services as well as Amazon's growing online ad business for retail-oriented companies, Tipograph said. González said she was willing to give Musk "the benefit of the doubt" when he told the group that Twitter was aligned with them.

☆ Russia's baseless 'dirty bomb' claim is another ploy to spread fear and scare away Western support for Ukraine, Russia experts warn
▼ + stars: | 2022-10-24 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +5 min

Russia baselessly claimed Ukraine is preparing to detonate a "dirty bomb" in its own territory. Ukraine also asked the UN's nuclear agency to send experts to inspect its nuclear facilities to prove Russia's "dirty bomb" accusations are false. A so-called dirty bomb, which is a type of radiological dispersal device, is a weapon that uses conventional explosives to spread radioactive material. Such weapons are nowhere near as dangerous as a nuclear bomb and are unlikely to cause mass casualties. There are also no documented cases of a dirty bomb attack.

☆ SEC's Gensler says CFTC authority over stablecoins should be bolstered
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

Stablecoins are usually pegged to the U.S. dollar and are primarily used to facilitate trading in other digital assets. Register now for FREE unlimited access to Reuters.com RegisterWhile the CFTC has anti-fraud and anti-manipulation regulatory authorities over firms that issue dollar-backed stablecoins, they do not have "actual plenary authority to write rules around the exchanges," Gensler said. They currently do not have direct regulatory authorities over the underlying non-security tokens," he said. The vast majority of cryptocurrencies, including so-called algorithmic stablecoins, are securities, and fall under the SEC's authority, while a handful are not, Gensler said. It remains unclear when Congress might pass crypto-related legislation, although several bills have been introduced to address stablecoins and digital commodities regulation.

☆ Volodymyr Zelenskyy embodies resilience. It's one of multiple traits business leaders can mimic in tough times.
▼ + stars: | 2022-09-14 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +10 min

The Ukrainian leader's speaking style is characterized by short sentences, vivid imagery, and empathy, all of which make him effective. A 2021 research paper published in the Academy of Management Journal found business leaders who led by example boosted productivity in their businesses. Some of the most convincing business leaders of our time have leaned into emotion when making key arguments. Ukrinform/Future Publishing via Getty ImagesThough the pandemic has bent the rules of formality, starched suits are still the go-to for world leaders. "President Zelenskyy remains focused on his core assignment.

☆ Meta's limits on employee abortion conversations could easily backfire. Here's what leaders should do instead.
▼ + stars: | 2022-07-06 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +8 min

Meta is limiting employee conversations about abortion on its internal platforms. The policy at Meta removes public employee posts on the company's internal platform with keywords like "abortion" and "Roe v Wade." Meta allows employees to talk about the topic only in private forums with up to 20 people, the Times said. The tech behemoth isn't the first company to monitor and control employee conversation around political issues and face pushback for it. Hasnas said that a company shouldn't single out one issue as being off limits, and that all political issues require consistency.

Search resuls for: "Georgetown University's"

15 mentions found