@DrPhilGoff@RepKatiePorter 1) 2 extraordinarily important thinkers, who also know how to implement: @DrPhilGoff (Prof at @Yale & founder/head of @PolicingEquity) & @RepKatiePorter. In the decade since we last redistricted US Congress, police have killed at least 1 person in every one of the 435 districts
@DrPhilGoff@RepKatiePorter@Yale@PolicingEquity 2) We've lost political will to legislate national protections against violent racism: "The George Floyd Justice in Policing Act—which would ban chokeholds, restrict the use of no-knock warrants & make some officers personally liable in civil court-remains stalled in the Senate"
@DrPhilGoff@RepKatiePorter@Yale@PolicingEquity 3)The #EmmettTill "Anti-lynching legislation (the 14-year-old Black boy whose horrific 1955 murder roused America’s racial consciousness), still isn't law...cynicism about Congress’s willingness&ability to solve an issue like police violence is not only fashionable but rational"
@DrPhilGoff@RepKatiePorter@Yale@PolicingEquity@katieporteroc 6) For 911 calls due to a "mental health crisis, these units would act as an emergency response team. Their goal would be to defuse the immediate crisis & serve as a gateway to resources such as counseling, substance abuse treatment and housing assistance." DATA supports this!
@Trace_Cohen@ankurnagpal 1) So the concept of "extremely founder friendly terms" is great in an up market. See course in "life during recessionary pandemic with 38M unemployed"
@Trace_Cohen@ankurnagpal 2) what if there's actually some complexity to some of this? What if it actually requires judgment & some customization? What if, maybe, you shouldn't get to keep the board seat forever - like if you stop performing...even if you founded the company?
@Trace_Cohen@ankurnagpal 3) what if corporate governance matters (I remember when funds started always voting with founders, even when they knew the founders were doing something wrong)
1) "Federal Reserve developed the #MainStreetLending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic."
2) after initial announcement of #MainStreetLending Program, Fed Reserve expanded it to: Create a 3rd loan option, w/increased risk sharing by lenders for borrowers with greater leverage &
Lowered the minimum loan size for certain loans to $500,000 federalreserve.gov/newsevents/pre…
3) this resulted in 3 loan (🍕) options: plain, pepperoni & mushroom: "termed new, priority, & expanded" 4 year loans:
New: $500K Minimum Loan Size
Priority: Ditto
Expanded: $10M Minimum Loan Size & up to a TON!
2) Employers receiving #PPPloans may not defer the deposit&payment of the Employer share of #SocialSecurity tax "otherwise due AFTER the employer receives a decision from the lender that the loan was forgiven." #IRSFAQ #1
3) The deferral applies to deposits&payments of an Employer's share of #SocialSecurity#tax that would otherwise be required to be made during the "Payroll Tax Deferral Period" (March 27 through December 31, 2020). #CARES#Section2302@IRSnews#FAQ 2
@schlaf@GundersonLaw 1) Not sure where that stat comes from. Having signed term sheets for A Rounds in NYC the day before 9/11, there was not a minute of lag time there. Slight delay in 2008. Slight delay in March 00. There's often a pause to recalibrate
@schlaf@GundersonLaw 2) we are seeing founders dig in on terms in some instances and we'll see how that plays out. Elsewhere, we're also seeing lots of inside-led rounds, whether convertible notes, SAFEs or straight equity
@schlaf@GundersonLaw 3) if the past is prologue, many funds will do sweeps of their portfolios to determine which portfolio companies Coronavirus will hurt, leave unimpacted, and which will thrive from it (i.e., Zoom). They will then make funding decisions along those lines.