Silicon Valley’s quest to improve the diversity of tech company employees appears to have gotten a boost from the pandemic. Last year, Twitter’s Black staff increased by more than a third, to 9.4% of its U.S. workforce, while Latinx employees rose by almost half, to 8% of its U.S. staff, the company said Thursday. Twitter, which has 7,000 workers globally, the majority of which are in the U.S.,...
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The Coming Wave of Cram Downs
What do Good Eggs, a startup that delivers $4.99 broccoli bunches, and Tonal, a fitness startup that sells $3,995 exercise equipment, have in common—other than a business model subsidized by venture capital? They’re both engaged in a painful type of financing known as a “cram down.” If you grew up in the era of easy money, ultralow interest rates and 100 times multiples, it’s possible you’...
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