#TechEquality

[insights-123]

Mastering Crisis Communication: Building Brand Trust in Challenging Times

Building Brand Trust Through Crisis Communication: Strengthening Consumer Loyalty in Uncertain Times 

Building trust among consumers is essential for any successful brand. However, when times get tough, how a company communicates during a crisis can either strengthen or destroy the confidence it has worked hard to establish. Crisis communication is not just about damage control; it is about demonstrating authenticity, reliability, and a commitment to the values that customers hold dear. In this article, we explore how a brand’s trust can be fortified through effective communication strategies, especially during times of uncertainty. 

If you want to ensure your brand remains resilient and loyal to customers during hard times, it’s important to start developing a solid communication plan now. Doing so can help your brand emerge from a crisis even stronger than before. 

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Why Transparency Matters 

During a crisis, rumors and speculation can quickly spiral out of control. To prevent this from happening, it is crucial to maintain transparency by providing accurate and timely information. This helps to dispel misinformation and create an environment where people can trust the brand to be open rather than relying on vague or polished statements. 

Transparency also involves directly addressing concerns. Ignoring feedback or avoiding difficult conversations can significantly damage a brand's reputation. Instead, acknowledging challenges or mistakes and explaining the steps being taken to resolve them builds credibility and fosters trust. Customers appreciate honesty and a company that is willing to confront the tough issues head-on. 

Maintaining Consistent Messaging 

Consistency in communication is vital for reassurance during times of crisis. Customers, employees, and partners alike will feel more confident if messaging remains consistent across all channels. This consistency should extend to tone, language, and content, ensuring that the brand’s message is clear and unified. 

 For example, if a company decides to make a change to a product or service, this information should appear on the company’s website, in email updates, and in customer support scripts. When the messaging is consistent, it presents an image of organizational cohesion, which in turn builds confidence among all stakeholders. Inconsistencies can confuse people and erode trust, so maintaining a unified message is essential. 

The Role of Empathy in Communication 

Empathy plays a critical role in bridging the gap between a brand and its audience. Understanding the emotions and concerns of stakeholders allows brands to craft messages that resonate on a deeper, human level. In times of crisis, brands must recognize that the situation involves real people with real feelings, not just business concerns. 

Empathetic communication often includes phrases such as, “We’re here to support you” or “Your safety is our priority.” These words reassure audiences that the brand is committed to their well-being and creates a sense of solidarity. By putting people first, brands can forge deeper emotional connections and show that they genuinely care about their customers, beyond just making a sale. 

Swift and Decisive Action 

Speed is of the essence when it comes to crisis communication. Delaying responses or failing to address an issue in a timely manner can lead to confusion, speculation, and a loss of trust. Quick action demonstrates that the company is capable of managing challenges effectively and is committed to resolving the situation promptly. 

However, speed should not come at the cost of quality. While it is important to act swiftly, the communication should still be thoughtful and well-crafted. Brands that are well-prepared with crisis management strategies in place are able to respond promptly without compromising the integrity of their message. Planning ahead allows brands to manage crises more effectively and confidently. 

Building Resilience Through Social Media 

Social media plays a vital role in crisis communication. It offers a platform for real-time interaction with customers, helping to clarify misunderstandings and showcase a brand’s commitment to transparency. Social media also allows companies to update their audience regularly and address any concerns directly. 

 Maintaining an active and thoughtful presence on social media during a crisis is crucial. Brands can use these platforms to offer updates, respond to customer inquiries, and monitor public sentiment. Speed is important, but the quality of the posts must remain aligned with the overall messaging strategy. When social media interactions are consistent and clear, they can serve as a tool for building trust and demonstrating a brand’s ability to navigate challenging situations. 

Engaging with Stakeholders Proactively 

Proactively engaging with stakeholders, both external and internal, is key to fostering trust. Stakeholders, including customers, employees, and partners, appreciate when a brand listens to their concerns and addresses them in a meaningful way. Engagement can take many forms, such as responding to customer questions, hosting Q&A sessions, or publishing blogs and videos that explain the company’s position. 

 Internal engagement is just as important. Employees represent the brand and, as such, should be kept in the loop regarding the company’s stance on various issues. Their understanding of the brand’s message is crucial in ensuring that communication is passed on correctly to external stakeholders. Engaged employees are also more likely to advocate for the brand, contributing to a positive public perception. 

Lessons Learned: Improving Crisis Communication 

Every crisis provides valuable lessons. After a crisis subsides, it’s essential to conduct a thorough analysis of what worked and what didn’t in the communication strategy. This post-crisis analysis helps brands identify areas for improvement and better prepare for future challenges. 

 By documenting these lessons and refining their crisis management plans, brands can become more adaptable and equipped to handle future crises. The constant process of learning and improving allows a brand to evolve and become more adept at communicating in challenging situations. This resilience, in turn, strengthens the brand’s reputation and enhances its ability to handle future crises effectively. 

Conclusion 

In conclusion, building brand trust through effective crisis communication requires a shift in approach toward customers. A transparent, empathetic, and consistent communication strategy is essential to maintaining consumer loyalty during uncertain times. Additionally, proactive engagement with both external and internal stakeholders and the ability to act swiftly will further bolster a brand’s resilience. 

 A well-prepared brand, equipped with a strong communication plan, can navigate crises with confidence, ensuring that its audience remains supportive even in the most difficult situations. By learning from each experience and refining communication strategies, brands can fortify their trust with customers and emerge from a crisis stronger than ever before. 

Read Also : Strengthening Brand Trust Through Marketing – Crisis Communication 

[ojensby]

(via "Support Women in Tech - Technology Empowerment" Sticker for Sale by jensbyorlando)

[aipidia]

[helpmakebetterdecisions]

9.C Empowering Communities: The Impact of Universal ICT Access

[truthfullyresonantvapor]

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[aanews69]

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[interpretedimage]

Aneta Ivanova

Aneta Ivanova is a Bulgarian photographer. She is a master of using double exporsure techeque. "Double exposure is a technique that combines two different exposures or images that are layered on top of each other. The image overlaid is less than full opacity so a bit of both images can be seen producing an almost ghost-like image". I think double exposure is one teqnune that is worth learning. It offers a creative way to tell stories and add depth to my images by blending multiple exposures into a single frame. It can be done by post processing or executed during shooting, and I am interested in learning both way. Think about it, I might be able to combine my wildlife photos with portraitures using double exporsure techeque!

Maio, Alyssa. “Double Exposure Techniques Explained.” StudioBinder, 2 May 2021, https://www.studiobinder.com/blog/what-is-double-exposure-photography/.CloseDeleteEdit

[thxnews]

Championing Women's Empowerment: India's G20 Vision Unveiled

  International Collaboration for Women's Empowerment

The vibrant city of Gandhinagar, Gujarat, played host to a momentous event from August 2nd to 4th, 2023 - the G20 Ministerial Conference on Women's Empowerment. This landmark conference saw the convergence of Women and Gender Equality Ministers from across G20 nations and guest countries, united in their commitment to advancing the cause of gender equality.   Nurturing Global Empowerment - India's Initiatives The Ministry of Women and Child Development, serving as the Nodal Officer for G20 Empower and W20, orchestrated a series of seven international meetings, culminating in the Ministerial Conference for Women Empowerment. The conference served as a platform for over 138 international delegates hailing from 15 G20 countries including Argentina, Australia, Brazil, Canada, Germany, Japan, Saudi Arabia, USA, and more, along with representation from 5 Guest Countries. A symphony of voices, with over 60 speakers, united to champion women's empowerment.  

Powerhouse Inaugural Session Sets the Tone

The inaugural session was graced by esteemed dignitaries, including the Hon'ble Prime Minister of India, Sh. Narendra Modi, who emphasized the vital role of women in propelling global progress. The Chief Coordinator of India's G20 Presidency, Shri Harsh Vardhan Shringla, and Smt. Smriti Zubin Irani, Minister for Women & Child Development and Minority Affairs, India, jointly marked the occasion. The stage also welcomed international luminaries like Ms. I Gusti Ayu Bintang Darmawati from Indonesia and Ms. Maria Helena Guarezi from Brazil, among others.   Focused Discussions - Education, Leadership, and More The conference echoed discussions spanning a plethora of themes, from education with a spotlight on STEM fields, digital skills, and women in emerging technologies, to fostering grassroots leadership and women's entrepreneurship. Participants delved into topics such as culture, women's enterprise, and innovation.  

Resounding Conclusions and Future Commitments

The Ministerial Conference concluded with resounding calls for action. Dr. Munjpara Mahendrabhai, Minister of State for Women & Child Development, India, offered insights, marking the transition of the conference baton to Brazil. The commitment to gender equality was solidified in the Chair Statement, representing a harmonious chorus of G20 Ministers and international organizations.   India's Vision - A Transformative Legacy Prime Minister Shri Narendra Modi articulated India's transformative vision, encapsulating the essence of women-led development. He voiced, "When women prosper, the world prospers." India's G20 Presidency focused on a life-course approach, propelling women beyond mere empowerment, while also spotlighting grassroots leadership and women's vital role in the face of climate change.  

Spotlight on Tangible Progress and Local Leadership

India's prowess was evident in its emphasis on education, particularly in STEM fields, bridging the gender digital divide through 'TechEquity', a Digital Inclusion Platform. The G20 EMPOWER playbook saw a remarkable addition, spotlighting women at the grassroots. The KPI Dashboard for G20 EMPOWER signaled a dedicated focus on the role of women in Small and Medium Enterprises.   A Global Impetus for Gender Equality India's legacy is etched in its unwavering commitment to gender equality. The presidency expanded G20 EMPOWER advocates, empowered women at all levels, and celebrated their resilience. The W20 engagement group championed women's role in climate change resilience, aligning with India's Mission LiFE. Cultural showcases and exhibitions highlighted India's rich heritage.  

Catalyst for Change - India's Leadership

In a resounding testament, India's G20 Presidency carved a transformative path for women's empowerment. The G20's role in addressing gender equality emerged as a beacon of change, leaving an indelible mark on policies, mindsets, and partnerships. The baton is passed to Brazil, symbolizing a continuum of consensus-driven progress.   Inspiring Tomorrow - Women as Architects of Progress As India's G20 Presidency transitions, it leaves an enduring legacy of gender-equitable policies and empowering interventions. Women are envisioned as catalysts for progress, architects of change, and leaders in their own right. India's legacy shall inspire positive transformation, propelling the world toward a brighter, more inclusive future.   Sources: THX News & Press Information Bureau. Read the full article

[citymaus]

“Catherina Bracy founded the TechEquity Collaborative in 2017, and the member-driven organization has already helped successfully push for major reforms, like the Tenant Protection Act of 2019, also known as AB1482.

In the wake of protests sparked by the police killing of George Floyd, Bracy says some Bay Area tech companies that just last year were ignoring her collaborative’s calls to action, are now reaching out to her to engage.

Q: In your experience, what are the biggest problems with inequality in tech? In other words, what groups are hurting the most from the current state of affairs?

A: As with just about every aspect of our society, low-income communities of color are disproportionately suffering from the affordability crisis. That was true before Covid and it’s more true now. The fault for that does not lie solely at tech’s doorstep. Yes, tech companies have a responsibility to hire from and invest in these communities but even if we had tech companies doing the very best thing possible, we would still see disproportionate pain in communities of color because of the structural inequities in our economy. 

Tech isn’t responsible for refusing to issue building permits for new housing. Tech didn’t pass Prop 13. Tech didn’t outlaw affirmative action. We as citizens need to take responsibility for those decisions. Tech workers and companies have disproportionate power and privilege and have a unique opportunity to help right these wrongs but the responsibility is on all of us.

“I knew from my previous work... there were lots of rank-and-file tech workers who wanted to contribute to making their communities more equitable but they didn’t know how. So TechEquity became a vehicle to help them get involved. We mobilize tech workers and companies to learn about and take action in two key areas: housing and workforce & labor.”

read more: eastbaytimes, 14.07.2020. join: the techequity collaborative.

[bellaspadiva]

Power to Fly comes highly recommended for #WomensWork @Regrann from @powertofly - Diversity is totally in right now. And, as companies are developing hiring strategies around diversity and inclusion initiatives, questions arise about whether their company perks are going to work for you. Thankfully, we're trying to demystify that process for you. We want you to be clear on what companies are bringing to the table, so you can find perks that actually work for you. For all of the openings, at some pretty cool and progressive companies, click the link in our bio! #diversity #diversitymatters #techjobs #techdiversity #inclusion #stemjobs #techequality #genderequality Ruth @ Ideation Station (at Ideation Station)

[workfromhom]

Startups Weekly: A Silicon Valley for everyone

Editor’s note: Get this free weekly recap of TechCrunch news that any startup can use by email every Saturday morning (7am PT). Subscribe here.

Many in the tech industry saw the threat of the novel coronavirus early and reacted correctly. Fewer have seemed prepared for its aftereffects, like the outflow of talented employees from very pricey office real estate in expensive and troubled cities like San Francisco.

And few indeed have seemed prepared for the Black Lives Matter protests that have followed the death of George Floyd. This was maybe the easiest to see coming, though, given how visible the structural racism is in cities up and down the main corridors of Silicon Valley.

Today, the combination of politics, the pandemic and the protests feels almost like a market crash for the industry (except many revenues keep going up and to the right). Most every company is now fundamentally reconsidering where it will be located and who it will be hiring — no matter how well it is doing otherwise.

Some, like Google and Thumbtack, have been caught in the awkward position of scaling back diversity efforts as part of pandemic cuts right before making statements in support of the protesters, as Megan Rose Dickey covered on TechCrunch this week. But it is also the pandemic helping to create the focus, as Arlan Hamilton of Backstage Capital tells her:

It is like the world and the country has a front-row seat to what Black people have to witness, take in, and feel all the time. And it was before they were seeing some of it, but they were seeing it kind of protected by us. We were kind of shielding them from some of it… It’s like a VR headset that the country is forced to be in because of COVID. It’s just in their face.

This also putting new scrutiny on how tech is used in policing today. It is renewing questions around who gets to be a VC and who gets funding right when the industry is under new pressure to deliver. It is highlighting solutions that companies can make internally, like this list from BLCK VC on Extra Crunch.

As with police reforms currently in the national debate, some of the most promising solutions are local. Property tax reform, pro-housing activism and sustainable funding for homelessness services are direct ways for the tech industry to address the long history of discrimination where the modern tech industry began, Catherine Bracy of TechEquity writes for TechCrunch. These changes are also what many think would make the Bay Area a more livable place for everyone, including any startup and any tech employee at any tech company (see: How Burrowing Owls Lead To Vomiting Anarchists).

Something to think about as we move on to our next topic — the ongoing wave of tech departures from SF.

Where will VCs follow founders to now?

In this week’s staff survey, we revisit the remote-first dislocation of the tech industry’s core hubs. Danny Crichton observes some of the places that VCs have been leaving town for, and thinks it means bigger changes are underway:

“Are VCs leaving San Francisco? Based on everything I have heard: yes. They are leaving for Napa, leaving for Tahoe, and otherwise heading out to wherever gorgeous outdoor beauty exists in California. That bodes ill for San Francisco’s (and really, South Park’s) future as the oasis of VC.

But the centripetal forces are strong. VCs will congregate again somewhere else, because they continue to have that same need for market intelligence that they have always had. The new, new place might not be San Francisco, but I would be shocked just given the human migration pattern underway that it isn’t in some outlying part of the Bay Area.

And then he says this:

As for VCs — if the new central node is a bar in Napa and that’s the new “place to be” — that could be relatively more permanent. Yet ultimately, VCs follow the founders even if it takes time for them to recognize the new balance of power. It took years for most VCs to recognize that founders didn’t want to work in South Bay, but now nearly every venture firm of note has an office in San Francisco. Where the founders go, the VCs will follow. If that continues to be SF, its future as a startup hub will continue after a brief hiatus.

It’s true that another outlying farming community in the region once became a startup hub, but that one had a major research university next door, and at the time a lot of cheap housing if you were allowed access to it. But Napa cannot be the next Palo Alto because it is fully formed today as a glorified retirement community, Danny.

I’m already on the record for saying that college towns in general are going to become more prominent in the tech world, between ongoing funding for innovative tech work and ongoing desirability for anyone moving from the big cities. But I’m going to add a side bet that cities will come back into fashion with the sorts of startup founders that VCs would like to back. As Exhibit A, I’d like to present Jack Dorsey, who started a courier dispatch in Oakland in 2000, and studied fashion and massage therapy during the aftermath of the dot-com bubble. His success with Twitter a few years later in San Francisco inspired many founders to move as well.

Creative people like him are drawn to the big, creative environments that cities can offer, regardless of what the business establishment thinks. If the public and private sectors can learn from the many mistakes of recent decades (see last item) who knows, maybe we’ll see a more equal and resilient sort of boom emerge in tech’s current core.

Insurance provider Lemonade files for IPO with that refreshing common-stock flavor

There are probably some amazing puns to be made here but it has been a long week, and the numbers speak for themselves. Lemonade sells insurance to renters and homeowners online, and managed to reach a private valuation of $3.5 billion before filing to go public on Monday — with the common stockholders still comprising the majority of the cap table.

Danny crunched the numbers from the S-1 on Extra Crunch to generate the table, included, that illustrates this rather unusual breakdown. Usually, as you almost certainly know already, the investors own well over half by the time of a good liquidity event. “So what was the magic with Lemonade?” he ponders. “One piece of the puzzle is that company founder Daniel Schreiber was a multi-time operator, having previously built Powermat Technologies as the company’s president. The other piece is that Lemonade is built in the insurance market, which can be carefully modeled financially and gives investors a rare repeatable business model to evaluate.”

(Photo by Paul Hennessy/NurPhoto via Getty Images)

Adapting enterprise product roadmaps to the pandemic

Our investor surveys for Extra Crunch this week covered the space industry’s startup opportunities, and looked at how enterprise investors are assessing the impact of the pandemic. Here’s Theresia Gouw of Acrew Capital, explaining how two of their portfolio companies have refocused in recent months:

A common theme we found when joining our founders for these strategy sessions was that many pulled forward and prioritized mid- to long-term projects where the product features might better fit the needs of their customers during these times. One such example in our portfolio is Petabyte’s (whose product is called Rhapsody) accelerated development of its software capabilities that enable veterinarians to provide telehealth services. Rhapsody has also incorporated key features that enable a contactless experience when telehealth isn’t sufficient. These include functionality that enables customers to check-in (virtual waiting room), sign documents, and make payments from the comfort and safety of their car when bringing their pet (the patient!) to the vet for an in-person check-up.

Another such example would be PredictHQ, which provides demand intelligence to enterprises in travel, hospitality, logistics, CPG, and retail, all sectors who saw significant change (either positive or negative) in the demand for their products and services. PredictHQ has the most robust global dataset on real-world events. Pandemics and all the ensuing restrictions and, then, loosening of restrictions fall within the category of real-world events. The company, which also has multiple global offices, was able to incorporate the dynamic COVID government responses on a hyperlocal basis, by geography, and equip its customers (e.g., Domino’s, Qantas, and First Data) with up to date insights that would help with demand planning and forecasting as well as understanding staffing needs.

Around TechCrunch

Extra Crunch Live: Join Superhuman CEO Rahul Vohra for a live Q&A on June 16 at 2pm EDT/11 AM PDT Join us for a live Q&A with Plaid CEO Zach Perret June 18 at 10 a.m. PDT/1 p.m. EDT Two weeks left to save on TC Early Stage passes Learn how to ‘nail it before you scale it’ with Floodgate’s Ann Miura-Ko at TC Early Stage SF How can startups reinvent real estate? Learn how at TechCrunch Disrupt Stand out from the crowd: Apply to TC Top Picks at Disrupt 2020

Across the Week

TechCrunch

Theaters are ready to reopen, but is America ready to go back to the movies? Edtech is surging, and parents have some notes When it comes to social media moderation, reach matters Zoom admits to shutting down activist accounts at the request of the Chinese government

Extra Crunch

TechCrunch’s top 10 picks from Techstars’ May virtual demo days Software’s meteoric rise: Have VCs gone too far? Recession-proof your software engineering career The complicated calculus of taking Facebook’s venture money The pace of startup layoffs may be slowing down

#EquityPod

From Alex:

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

After a pretty busy week on the show we’re here with our regular Friday episode, which means lots of venture rounds and new venture capital funds to dig into. Thankfully we had our full contingent on hand: Danny “Well, you see” Crichton, Natasha “Talk to me post-pandemic” Mascarenhas, Alex “Very shouty” Wilhelm and, behind the scenes, Chris “The Dad” Gates.

Make sure to check out our IPO-focused Equity Shot from earlier this week if you haven’t yet, and let’s get into today’s topics:

Instacart raises $225 million. This round, not unexpected, values the on-demand grocery delivery startup at $13.7 billion — a huge sum, and one that should make it harder for the well-known company to sell itself to anyone but the public markets. Regardless, COVID-19 gave this company a huge updraft, and it capitalized on it.

Pando raises $8.5 million. We often cover rounds on Equity that are a little obvious. SaaS, that sort of thing. Pando is not that. Instead, it’s a company that wants to let small groups of individual pool their upside and allow for more equal outcomes in an economy that rewards outsized success.

Ethena raises $2 million. Anti-harassment software is about as much fun as the dentist today, but perhaps that doesn’t have to be the case. Natasha talked us through the company, and its pricing. I’m pretty bullish on Ethena, frankly. Homebrew, Village Global and GSV took part in the financing event.

Vendr raises $4 million. Vendr wants to help companies cut their SaaS bills, through its own SaaS-esque product. I tried to explain this, but may have butchered it a bit. It’s cool, I promise.

Facebook is getting into the CVC game. This should not be a surprise, but we were also not sure who was going to want Facebook money.

And, finally, Collab Capital is raising a $50 million fund to invest in Black founders. Per our reporting, the company is on track to close on $10 million in August. How fast the fund can close its full target is something we’re going to keep an eye on, considering it might get a lot harder a lot sooner. 

And that is that; thanks for lending us your ears.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.

from Facebook – TechCrunch https://ift.tt/3hofsmz via IFTTT

[un-enfant-immature]

Startups Weekly: A Silicon Valley for everyone

Editor’s note: Get this free weekly recap of TechCrunch news that any startup can use by email every Saturday morning (7am PT). Subscribe here.

Many in the tech industry saw the threat of the novel coronavirus early and reacted correctly. Fewer have seemed prepared for its aftereffects, like the outflow of talented employees from very pricey office real estate in expensive and troubled cities like San Francisco.

And few indeed have seemed prepared for the Black Lives Matter protests that have followed the death of George Floyd. This was maybe the easiest to see coming, though, given how visible the structural racism is in cities up and down the main corridors of Silicon Valley.

Today, the combination of politics, the pandemic and the protests feels almost like a market crash for the industry (except many revenues keep going up and to the right). Most every company is now fundamentally reconsidering where it will be located and who it will be hiring — no matter how well it is doing otherwise.

Some, like Google and Thumbtack, have been caught in the awkward position of scaling back diversity efforts as part of pandemic cuts right before making statements in support of the protesters, as Megan Rose Dickey covered on TechCrunch this week. But it is also the pandemic helping to create the focus, as Arlan Hamilton of Backstage Capital tells her:

It is like the world and the country has a front-row seat to what Black people have to witness, take in, and feel all the time. And it was before they were seeing some of it, but they were seeing it kind of protected by us. We were kind of shielding them from some of it… It’s like a VR headset that the country is forced to be in because of COVID. It’s just in their face.

This also putting new scrutiny on how tech is used in policing today. It is renewing questions around who gets to be a VC and who gets funding right when the industry is under new pressure to deliver. It is highlighting solutions that companies can make internally, like this list from BLCK VC on Extra Crunch.

As with police reforms currently in the national debate, some of the most promising solutions are local. Property tax reform, pro-housing activism and sustainable funding for homelessness services are direct ways for the tech industry to address the long history of discrimination where the modern tech industry began, Catherine Bracy of TechEquity writes for TechCrunch. These changes are also what many think would make the Bay Area a more livable place for everyone, including any startup and any tech employee at any tech company (see: How Burrowing Owls Lead To Vomiting Anarchists).

Something to think about as we move on to our next topic — the ongoing wave of tech departures from SF.

Where will VCs follow founders to now?

In this week’s staff survey, we revisit the remote-first dislocation of the tech industry’s core hubs. Danny Crichton observes some of the places that VCs have been leaving town for, and thinks it means bigger changes are underway:

“Are VCs leaving San Francisco? Based on everything I have heard: yes. They are leaving for Napa, leaving for Tahoe, and otherwise heading out to wherever gorgeous outdoor beauty exists in California. That bodes ill for San Francisco’s (and really, South Park’s) future as the oasis of VC.

But the centripetal forces are strong. VCs will congregate again somewhere else, because they continue to have that same need for market intelligence that they have always had. The new, new place might not be San Francisco, but I would be shocked just given the human migration pattern underway that it isn’t in some outlying part of the Bay Area.

And then he says this:

As for VCs — if the new central node is a bar in Napa and that’s the new “place to be” — that could be relatively more permanent. Yet ultimately, VCs follow the founders even if it takes time for them to recognize the new balance of power. It took years for most VCs to recognize that founders didn’t want to work in South Bay, but now nearly every venture firm of note has an office in San Francisco. Where the founders go, the VCs will follow. If that continues to be SF, its future as a startup hub will continue after a brief hiatus.

It’s true that another outlying farming community in the region once became a startup hub, but that one had a major research university next door, and at the time a lot of cheap housing if you were allowed access to it. But Napa cannot be the next Palo Alto because it is fully formed today as a glorified retirement community, Danny.

I’m already on the record for saying that college towns in general are going to become more prominent in the tech world, between ongoing funding for innovative tech work and ongoing desirability for anyone moving from the big cities. But I’m going to add a side bet that cities will come back into fashion with the sorts of startup founders that VCs would like to back. As Exhibit A, I’d like to present Jack Dorsey, who started a courier dispatch in Oakland in 2000, and studied fashion and massage therapy during the aftermath of the dot-com bubble. His success with Twitter a few years later in San Francisco inspired many founders to move as well.

Creative people like him are drawn to the big, creative environments that cities can offer, regardless of what the business establishment thinks. If the public and private sectors can learn from the many mistakes of recent decades (see last item) who knows, maybe we’ll see a more equal and resilient sort of boom emerge in tech’s current core.

Insurance provider Lemonade files for IPO with that refreshing common-stock flavor

There are probably some amazing puns to be made here but it has been a long week, and the numbers speak for themselves. Lemonade sells insurance to renters and homeowners online, and managed to reach a private valuation of $3.5 billion before filing to go public on Monday — with the common stockholders still comprising the majority of the cap table.

Danny crunched the numbers from the S-1 on Extra Crunch to generate the table, included, that illustrates this rather unusual breakdown. Usually, as you almost certainly know already, the investors own well over half by the time of a good liquidity event. “So what was the magic with Lemonade?” he ponders. “One piece of the puzzle is that company founder Daniel Schreiber was a multi-time operator, having previously built Powermat Technologies as the company’s president. The other piece is that Lemonade is built in the insurance market, which can be carefully modeled financially and gives investors a rare repeatable business model to evaluate.”

(Photo by Paul Hennessy/NurPhoto via Getty Images)

Adapting enterprise product roadmaps to the pandemic

Our investor surveys for Extra Crunch this week covered the space industry’s startup opportunities, and looked at how enterprise investors are assessing the impact of the pandemic. Here’s Theresia Gouw of Acrew Capital, explaining how two of their portfolio companies have refocused in recent months:

A common theme we found when joining our founders for these strategy sessions was that many pulled forward and prioritized mid- to long-term projects where the product features might better fit the needs of their customers during these times. One such example in our portfolio is Petabyte’s (whose product is called Rhapsody) accelerated development of its software capabilities that enable veterinarians to provide telehealth services. Rhapsody has also incorporated key features that enable a contactless experience when telehealth isn’t sufficient. These include functionality that enables customers to check-in (virtual waiting room), sign documents, and make payments from the comfort and safety of their car when bringing their pet (the patient!) to the vet for an in-person check-up.

Another such example would be PredictHQ, which provides demand intelligence to enterprises in travel, hospitality, logistics, CPG, and retail, all sectors who saw significant change (either positive or negative) in the demand for their products and services. PredictHQ has the most robust global dataset on real-world events. Pandemics and all the ensuing restrictions and, then, loosening of restrictions fall within the category of real-world events. The company, which also has multiple global offices, was able to incorporate the dynamic COVID government responses on a hyperlocal basis, by geography, and equip its customers (e.g., Domino’s, Qantas, and First Data) with up to date insights that would help with demand planning and forecasting as well as understanding staffing needs.

Around TechCrunch

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#EquityPod

From Alex:

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

After a pretty busy week on the show we’re here with our regular Friday episode, which means lots of venture rounds and new venture capital funds to dig into. Thankfully we had our full contingent on hand: Danny “Well, you see” Crichton, Natasha “Talk to me post-pandemic” Mascarenhas, Alex “Very shouty” Wilhelm and, behind the scenes, Chris “The Dad” Gates.

Make sure to check out our IPO-focused Equity Shot from earlier this week if you haven’t yet, and let’s get into today’s topics:

Instacart raises $225 million. This round, not unexpected, values the on-demand grocery delivery startup at $13.7 billion — a huge sum, and one that should make it harder for the well-known company to sell itself to anyone but the public markets. Regardless, COVID-19 gave this company a huge updraft, and it capitalized on it.

Pando raises $8.5 million. We often cover rounds on Equity that are a little obvious. SaaS, that sort of thing. Pando is not that. Instead, it’s a company that wants to let small groups of individual pool their upside and allow for more equal outcomes in an economy that rewards outsized success.

Ethena raises $2 million. Anti-harassment software is about as much fun as the dentist today, but perhaps that doesn’t have to be the case. Natasha talked us through the company, and its pricing. I’m pretty bullish on Ethena, frankly. Homebrew, Village Global and GSV took part in the financing event.

Vendr raises $4 million. Vendr wants to help companies cut their SaaS bills, through its own SaaS-esque product. I tried to explain this, but may have butchered it a bit. It’s cool, I promise.

Facebook is getting into the CVC game. This should not be a surprise, but we were also not sure who was going to want Facebook money.

And, finally, Collab Capital is raising a $50 million fund to invest in Black founders. Per our reporting, the company is on track to close on $10 million in August. How fast the fund can close its full target is something we’re going to keep an eye on, considering it might get a lot harder a lot sooner. 

And that is that; thanks for lending us your ears.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.

[ethnographiesofblacklife]

I wanted to learn a bit more about California Proposition 13 which Dr. Shange mentions as a reason for the underfunding of California public schools (and the subsequent school dependence on non-profits.)

In reference to Robeson’s dependence on nonprofits, Shange states, “Of course, what can feel like autonomy from the state comes at the expense of vulnerability to the shifting whims of private philanthropy” (33).

-ATG

[the-anaaa-blog]

allez techequer “ amnésie “ j’arrive pas a la mettre sur cette platforme.