In Case You Missed It: Launch Links - Week of July 12, 2020
Some interesting links we found across the web this week:
EU High Court Strikes Down Privacy Shield, Standard Contractual Clauses Remain in Place
On July 16, 2020, the European Court of Justice issued its highly anticipated Schrems II decision (Facebook Ireland Ltd. v. Maximillian Schrems). As described in this WilmerHale blog post, the EU’s highest court struck down a Privacy Shield program that authorized data transfers between the EU and US. The court also preserved the of standard contractual clauses as a data transfer mechanism, but added additional requirements for companies who use these clauses to ensure the protection of personal data of EU citizens who are subject to the General Data Protection Regulation.
What Startup Funding Will Look Like in a Post-Covid-19 World
The National Venture Capital Association has released a new report describing how the coronavirus will impact companies, stating, “[I]t’s going to be a bumpy ride” and to expect VC investments to “drop significantly.” This Entrepreneur article describes various industries that will continue to thrive despite social distancing and lockdown measures, including the cannabis industry, which many US states and European countries deemed essential. who integrate social impact into their core business strategy are also likely to become popular for VCs, especially those who go beyond the traditional corporate social responsibility model to address issues of systemic racism and social injustice.
4 Reasons You Should Have a Board of Advisors
A board of advisors is an informal group of individuals who provide advice and support for companies. This article from Entrepreneur sets out four reasons why a board of advisors is helpful for and growing companies, including offering an outside perspective, expanding a business’s network, supplementing and expanding organizational leadership, and increasing credibility with investors, clients and vendors. When looking to set up a board of advisors, the article recommends first taking an inventory of the strengths and weaknesses of a ’s management team and then building a board of advisors that can address and compensate for the weaknesses.
What’s the Least a Founder Should Know About Finance?
While founders might not need an MBA in finance to be competent in running their , they do need to know some important finance fundamentals. This article by AlleyWatch discusses finance concepts that are invaluable for founders to know, such as vs. net profit, the , and cash position.
How to Call Out Racial Injustice at Work
Speaking out about hard truths at work and holding senior leaders accountable is difficult for all employees, but the stakes are even higher for Black employees at a time when racial justice issues are front and center news. This HBR article discusses strategies for having difficult conversations about racial injustice at work, including finding like-minded colleagues and raising issues with a collective voice, finding safe people to confide in when strong emotions arise, framing the message so that it is compelling to the target audience, and following up after the conversation ends. These strategies can help employees advance racial justice within their organizations in a way that improves the likelihood of achieving change, while at the same time mitigating risk of rejection and adverse career and mental health outcomes.
Links compiled by Gerard Fischetti.