1,000 unicorns but not much more transparency
The SEC is expected to propose new reporting rules around ownership, environment, and cybersecurity. Wall Street's Watchdog pointed out that institutional investors could be exposed to risks that stem from lack of transparency since "more and more of the capital in private markets comes from pension plans, mutual funds, and other institutions." The agency's Democratic commissioners are considering new rules that would force certain big private companies to publicly disclose their finances and limit the number of people who can invest in such companies.
But it remains unclear where the agency will draw the line as to what it considers a large business subject to enhanced transparency rules. Some are worried about the implications for funding opportunities and the effects that forcing a company's hand prematurely could pose to business innovation. Transparency is generally good, and startups have to make efforts, especially those who want to play in the big leagues.
Speak up 📣 BlackRock CEO: The energy transition will create 1,000 unicorns
Estimates from CB Insights suggests that there are upwards of 1,000 unicorns around the world today, compared to a few dozen 10 years ago. Larry Fink, the CEO and Chairman of Blackrock, sees addressing climate change as a massive potential for new businesses."It is my belief that the next 1,000 unicorns won’t be a search engine, won’t be a media company, they’ll be businesses developing green hydrogen, green agriculture, green steel and green cement".
In another article titled The End of Venture Capital as We Know It by Sam Lessin (Fmr VP Product @ Facebook) published on The Information, the author argues that a monumental shift in startup investing with the future of venture capital being breakthrough science that will transform billions of lives in sectors like energy, transportation, infrastructure, agriculture, manufacturing, and human augmentation.
Scaling a startup can be a bit like playing a game of Super Mario 🕹️
According to Niels Martin Brochner, CEO of the Copenhagen-based company Contractbook, a founder must be self-critical — maybe even skeptical — to run a successful tech startup. He must be ready to challenge himself and his most basic assumptions openly and at all times. “You must admit your own defeats, iterate tirelessly and be brutally honest with yourself. The fail-fast mantra is a worn-out cliché in the startup world but only because there’s an undeniable truth to it. Starting and scaling a business is largely about admitting you’re wrong and starting over”.
DATA 📊 A simple way to consider more women for male-dominated positions
Longer shortlists! In this early 2021 paper, researchers showed that extending a shortlist for a stereotypically male role from 3 to 6 names increased the representation of women in it by 33-44%.
But why? Because making a longer list forces people to... be more creative. In male-dominated roles, that entails diverging from the gender-stereotype (and your first-circle network).
However! Making longer shortlists did not make a statistical difference in the final selection of women candidates (20% for longer shortlists versus 17% for shorter ones). The implication? It’s not enough to make a longer shortlist unless you seriously consider each candidate!
News 🗞️ Monzo launches three-month paid sabbatical leave
The British bank has introduced an extended paid sabbatical for its 2,100 employees. Monzo already offers a one-month unpaid sabbatical per year, but the fintech has increased this to allow employees who have been in their position for four years to take a three-month paid leave of absence, all at once or one month at a time.
Regardless of their personal situation, employees can choose to take time off to travel, spend time with family or focus on themselves without facing financial repercussions or job security issues. In this “war for talent”, these types of initiatives will be increasingly prevalent in 2022. Good or bad idea ? And in your company, how is this playing out? Please leave us your comments! 👉 Read here the great testimony of Florent from Teampact Ventures.
The Nugget 🍪 Is a mobile app as good as a therapist?
Mental health apps claim to treat depression, anxiety, and other mental illnesses without therapy appointments. There’s no wait time involved, and every person with a smartphone has immediate access. In addition to their convenience, many apps are free. If this sounds too good to be true, you may be right.
To remind you
"ppl first" will be committed and benevolent for employees, managers, and founders !
What is ppl first ? It's a company that puts the employee at the heart of the strategy, considering that a fulfilled worker will make a healthy and sustainable business.
Why ppl first ? Everything is accelerating and for years customer is too often the top priority, the employee is sometimes an adjustment variable. Less considered, he/she's also less committed.
How ppl first ? There are many ways to achieve this (or to stay this way) but there is a common base. When a staff member would not recommend to his friends to work with him/her, when the management does not have clear values to defend etc. Staff is at risk and the company with it. To have or maintain a people first culture you need to care about your employees as individuals.