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The UK approves the BioNTech/Pfizer COVID-19 vaccine for emergency use - techcrunch

The UK approves the BioNTech/Pfizer COVID-19 vaccine for emergency use

The UK’s medicines regulator has approved the BioNTech/Pfizer vaccine against COVID-19 for emergency use, the companies said today. The UK is the first country to approve the vaccine for widespread use — paving the way for some of the most “high risk” citizens, such as elderly care home residents, to get the jab before the end […]
techcrunch - 31 minutes ago
Monzo, the U.K. challenger bank, picks up additional £60M in funding - techcrunch

Monzo, the U.K. challenger bank, picks up additional £60M in funding

Monzo, the U.K. challenger bank now with more than 4.8 million customers, has closed another £60 million in funding, priced the same as and effectively an extension of the its previous top-up round in June. This saw Monzo valued by private investors at around £1.2 billion, marked by industry observers as a down round because […]
techcrunch - 36 minutes ago
Revolut launches early salary feature in the UK and web app - techcrunch

Revolut launches early salary feature in the UK and web app

Fintech startup Revolut has two new features this week. First, the company is launching a web app for its regular users — not just business users. Second, in the U.K., Revolut has partnered with Modulr to let you receive your salary a day early. Revolut has historically focused its efforts on its mobile app. If […]
techcrunch - 2 hours ago
Eat Just to sell lab-grown meat in Singapore after gaining “world first” regulatory approval - techcrunch

Eat Just to sell lab-grown meat in Singapore after gaining “world first” regulatory approval

Eat Just will start offering lab-grown chicken meat in Singapore after gaining regulatory approval from the Singapore Food Agency (SFA). The cell-cultured chicken will eventually be produced under Eat Just’s new GOOD Meat brand through partnerships with local manufacturers and go on sale to restaurants before it is available to consumers. No chickens were killed […]
techcrunch - 4 hours ago
Extra Crunch membership now available to readers in Israel - techcrunch

Extra Crunch membership now available to readers in Israel

We’re excited to announce that Extra Crunch memberships are now available in Israel. That adds to our existing support in: United States Canada Argentina, Brazil, Mexico UK and select European countries Australia Sign up for Extra Crunch membership here. Use the code ISRAEL122020 during checkout for an additional 25% off an annual or 2-year plan. […]
techcrunch - 6 hours ago
Apple’s MagSafe Duo charger is now available - techcrunch

Apple’s MagSafe Duo charger is now available

Back in October Apple announced the MagSafe Duo, a folding travel charger capable of charging both the iPhone and the Apple Watch simultaneously and wirelessly. In an unusual move, the company didn’t specify exactly when it’d start shipping — or even when it’d go up for sale. Some rumors suggested late December, while others were […]
techcrunch - 8 hours ago
Longtime investor and operator Adam Nash says he just launched a new fintech startup - techcrunch

Longtime investor and operator Adam Nash says he just launched a new fintech startup

Adam Nash, a Silicon Valley-born-and-bred operator and investor, is back at it again. Today, on his personal blog, he announced that he has started a consumer fintech company that has already garnered initial funding from Ribbit Capital, along with other “friends and angels” who appear to have also pitched into the round, including Box CEO […]
techcrunch - 9 hours ago
Massachusetts lawmakers vote to pass a statewide police ban on facial recognition - techcrunch

Massachusetts lawmakers vote to pass a statewide police ban on facial recognition

Massachusetts lawmakers have voted to pass a new police reform bill that will ban police departments and public agencies from using facial recognition technology across the state. The bill was passed by both the state’s House and Senate on Tuesday, a day after senior lawmakers announced an agreement that ended months of deadlock. The police […]
techcrunch - 9 hours ago
Equity Shot: Salesforce’s $27.7 billion-dollar Slack message - techcrunch

Equity Shot: Salesforce’s $27.7 billion-dollar Slack message

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. Welcome to an Equity Shot all about the huge, and hugely interesting Salesforce -Slack deal, in which the enterprise social company will be subsumed for the mere price of $27.7 billion. TechCrunch has notes on the deal here, […]
techcrunch - 10 hours ago
Daily Crunch: Salesforce buys Slack for $27.7B - techcrunch

Daily Crunch: Salesforce buys Slack for $27.7B

Salesforce announces its acquisition of Slack, Amazon brings the Mac mini to the cloud and Google Maps gets a newsfeed. This is your Daily Crunch for December 1, 2020. The big story: Salesforce buys Slack for $27.7B The acquisition, which was first reported last month, is now official. “This is a match made in heaven,” […]
techcrunch - 10 hours ago
Lightspeed acquires restaurant software company Upserve for $430M - techcrunch

Lightspeed acquires restaurant software company Upserve for $430M

Lightspeed POS just announced the acquisition of Upserve, expanding Lightspeed’s presence in the restaurant industry. The company already offers cloud-based point-of-sale software for restaurants and other businesses. It went public in Canada last year before recently debuting on the New York Stock Exchange and acquiring another point-of-sale company, ShopKeep, for $440 million. The Upserve acquisition is […]
techcrunch - 11 hours ago
Elon Musk would consider having Tesla acquire a legacy automaker - techcrunch

Elon Musk would consider having Tesla acquire a legacy automaker

Elon Musk would consider leveraging Tesla’s mega $554 billion market cap to buy a legacy automaker, but only if it was on friendly terms, the billionaire entrepreneur said Tuesday in a wide-ranging interview with Axel Springer CEO Mathias Döpfner. Musk who received an award Tuesday from the media giant discussed his various interests and businesses, […]
techcrunch - 11 hours ago
Scale AI hits $3.5B valuation as its turns the AI boom into a venture bonanza - techcrunch

Scale AI hits $3.5B valuation as its turns the AI boom into a venture bonanza

Scale AI, the four-year-old data labeling startup, has discovered that selling the picks and shovels needed to develop and apply artificial intelligence is big business. The company, which created a visual data labeling platform that uses software and people to label image, text, voice and video data for companies building machine learning algorithms, has raised […]
techcrunch - 12 hours ago
Salesforce beats growth expectations, as investors digest the Slack acquisition - techcrunch

Salesforce beats growth expectations, as investors digest the Slack acquisition

Today after the bell, Salesforce reported its third-quarter earnings for its fiscal 2021, a period that ended October 31, 2020. The CRM giant reported top-line revenue of $5.42 billion, up 20% from the year-ago period. Salesforce also had net income of $1.08 billion and earnings per share of $1.15. Analysts had expected the company to […]
techcrunch - 12 hours ago
Announcing TechCrunch’s 2021 Event Calendar - techcrunch

Announcing TechCrunch’s 2021 Event Calendar

We know that you’re hard at work building the next great startup so we want to get our events on your radar early for next year. We’re excited to announce our 2021 fully virtual events line-up. Mark your calendars! TC Sessions: Justice March 3, 2021 Join us virtually while we explore inclusive hiring, access to […]
techcrunch - 12 hours ago
Salesforce buys Slack in a $27.7B megadeal - techcrunch

Salesforce buys Slack in a $27.7B megadeal

Salesforce, the CRM powerhouse that recently surpassed $20 billion in annual revenue, announced today it is wading deeper into enterprise social by acquiring Slack in a $27.7 billion megadeal. Salesforce co-founder and CEO Marc Benioff didn’t mince words on his latest purchase. “This is a match made in heaven. Together, Salesforce and Slack will shape […]
techcrunch - 12 hours ago
Elon Musk says SpaceX will attempt uncrewed Mars flight in two years, human landing in four to six - techcrunch

Elon Musk says SpaceX will attempt uncrewed Mars flight in two years, human landing in four to six

SpaceX founder and CEO Elon Musk was given an award from media giant Axel Springer on Tuesday, and he sat down to provide a wide-ranging interview that covered topics including space, Tesla, AI and even underpopulation. Musk addressed SpaceX’s Mars ambitions first, providing current timelines he’s working toward for reaching the red planet with SpaceX’s […]
techcrunch - 12 hours ago
Google Maps takes on Facebook with launch of its own news feed - techcrunch

Google Maps takes on Facebook with launch of its own news feed

People are getting frustrated that Stories are everywhere now, but Google Maps is keeping it old school. Instead of adding tiny circles to the top of the app’s screen, Google Maps is introducing its own news feed. Technically, Google calls its new feature the “Community Feed,” as it includes posts from a local area. However, […]
techcrunch - 12 hours ago
Ivanti has acquired security firms MobileIron and Pulse Secure - techcrunch

Ivanti has acquired security firms MobileIron and Pulse Secure

IT security software company Ivanti has acquired two security companies: enterprise mobile security firm MobileIron, and corporate virtual network provider Pulse Secure. In a statement on Tuesday, Ivanti said it bought MobileIron for $872 million in stock, with 91% of the shareholders voting in favor of the deal; and acquired Pulse Secure from its parent […]
techcrunch - 13 hours ago
Bottom-up SaaS: A framework for mapping pricing to customer value - techcrunch

Bottom-up SaaS: A framework for mapping pricing to customer value

Competitive advantage will go to the players who understand what truly motivates their customers and connect their pricing to that engine.
techcrunch - 13 hours ago
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techcrunch
Yale may have just turned institutional investing on its head with a new diversity edict

Yale may have just turned institutional investing on its head with a new diversity edict

techcrunch - 1 month ago

It could be the long-awaited turning point in the world of venture capital and beyond. Yale, whose $32 billion endowment has been led since 1985 by the legendary investor David Swensen, just let its 70 U.S. money managers across a variety of asset classes know that for the school, diversity has now moved front and center.

According to the WSJ, Swensen has told the firms that from here on out, they be measured annually on their progress in increasing the diversity of their investment staff, meaning their hiring, training, mentoring and retention of women and minorities.

Those that show little improvement may see the university pull its money, Swensen tells the outlet.

It’s hard to overstate the move’s significance. Though Yale’s endowment saw atypically poor performance last year, Swensen, at 66, is among the most highly regarded money managers in the world, growing Yale’s endowment from $1 billion when he joined as a 31-year-old former grad student of the school, to the second-largest school endowment in the country today after Harvard, which currently manages $40 billion.

Credited for developing the so-called Yale Model, which is short on public equities and long on commitments to venture shops, private equity funds, hedge funds, and international investments, Swensen has inspired legions of other endowment managers, many of whom worked with him previously, including the current endowment heads at Princeton, Stanford, and the University of Pennsylvania.

It isn’t a stretch to imagine that they will again follow Swensen’s lead, which could go a long way in changing the stubbornly intractable world of money management, which remains mostly white and mostly male across asset classes.

While the dearth of woman and minorities within the ranks of venture firms may not be news to readers, a 2019 study commissioned by the Knight Foundation and cited by the WSJ found that women- and minority-owned firms held less than 1% of assets managed by mutual funds, hedge funds, private-equity funds and real-estate funds in 2017, even though their performance was on a par with such firms.

Swensen tells that WSJ that he has long talked about diversity with the fund managers to which the endowment commits capital, but that he had he held of anything systematic owing to a belief, in part, that there were not enough diverse candidate entering into asset management for a mandate to make sense.

After the Black Lives Movement gained momentum this spring, he decided it was time to take the leap.

What about that perceived pipeline concern? Fund managers will have to figure it out if they. For his part, says the WSJ, Swensen offered a suggestion to those same U.S. managers. He proposed that they forget standard resumes and consider recruiting directly from college campuses.

sauce: techcrunch
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