We all understand that corporations solely care about revenue, profits and their shareholders. CEOs and top brass hyperfocus on their own financial interests. It’s hard to blame them, as this is how the game is played.
Lately, it seems that the chasm between the uber-wealthy and the average American family is the greatest we’ve seen since the bygone era of robber barons. The top 1% are thriving during the pandemic, while the rest of us are desperately trying to survive and eke out a meager living. More than ever before, a small group of powerful CEOs and executives have usurped the lion’s share of their company’s money by awarding themselves lavish salaries, stock options and bonuses.
The Covid-19 pandemic seems to have enhanced the chasm between the average worker and the upper echelon. This marks the beginning of the end of corporate loyalty. It’s obvious that we’ve been forced into a new era of free agency. The companies clearly don’t care about the workers and now the workers need to care about themselves.
Here’s a great example exemplifying the callous, nonchalant behavior of corporate executives toward employees. In late March, Covid-19 hit the United States hard. A then record-setting 3.28 million people filed for unemployment benefits for the week ending March 21. At the time, it was the highest level of claims in reported history. Those numbers seem quaint now, as more than 60 million Americans have filed for benefits since then. Due to the drastic health, economic and job-loss crisis, prominent CEOs—many from financial services and Wall Street—promised that they would not lay off workers through 2020. Six-plus months later, a number of these companies are now laying off employees.
Here are just some of the large corporations that have changed their minds about their pledge to hold
The company will utilize the fresh capital to enhance its corporate service and accounting practices and develop its Zuve platform
Grow Your Business, Not Your Inbox
Stay informed and join our daily newsletter now!
2 min read
Singapore-based Lanturn, a corporate services firm, on Thursday announced that it has raised USD 3 million in a seed round.
The fund was raised from early stage investors East Ventures and CoCoon Ignite Ventures. Others who participated in the rounds as individual investors included Alex Turnbull, Saki Georgiadis, Meiyen Tan, and many more.
The company will utilize the fresh capital to enhance its corporate service and accounting practices and develop its Zuve platform.
Founded in 2017 by Velisarios Kattoulas, Lanturn is a technology-driven corporate services firm that offers solutions ranging from corporate secretarial, accounting, tax, immigration, and corporate finance.
Till date, the startup has helped SMEs, technology firms, private equity firms, venture capital firms and venture debt funds with their administrative tasks and has saved their time.
“We think it makes much better sense for our entrepreneurs and investors to focus on their core businesses. We also think that cloud technology can make corporate services, accounting and other services more efficient,” said Kattoulas.
“That’s why we continue to invest in the Zave platform, the corporate services platform that we started building in 2017. We believe it helps us deliver a better service to our clients, it makes sure that our clients and their investors and other stakeholders can easily access key documents, and it puts us in a position to use our clients’ data to help them manage their businesses more effectively.”
Commenting on the deal, Batara Eto, managing partner and co-rounder of East Ventures said “Many startups and other small businesses have innovative business propositions, but they often find
In March of this year I wrote about how to establish a global set of standards for companies to report on their environmental, social, and governance (ESG) performance—or so-called “nonfinancial information.”
I’m pleased to report that significant progress has been made in the past five months.
Key to this achievement is the foundational work of five NGOs (The Five) whose missions are aligned with this goal: CDP, the Climate Disclosure Standards Board (CDSB), the Global Reporting Initiative (GRI), and the Sustainability Accounting Standards Board (SASB), guide the overwhelming majority of ESG disclosure and the International integrated Reporting Council (IIRC) provides the framework for how to connect ESG disclosure to reporting on financial and other capitals.
Their work is particularly critical now, as governments and major accounting bodies are acting on standards. The IFRS and IFAC have recognized the need for mandated standards for nonfinancial information. The EU, in reviewing its Non-financial Reporting Directive (NFRD), has instructed EFRAG to establish a European Lab Project Task Force to make recommendations on standards for nonfinancial information, as a prelude to their stated intention to regulate. And a variety of business groups, including the IBC/WEF and the Big Four have voiced the need for global ESG reporting standards for companies and markets.
All of these groups should build on the work of “The Five.”
Not only are they field leaders, they also recognize that they are stronger as a group than individually. And while each of “The Five” has its own particular approach to ESG standards and reporting, much of their technical content is complementary rather than overlapping. This is clear in their recent “Statement of Intent to Work Together Towards Comprehensive Corporate Reporting (The Statement)” authored by The Five and facilitated by the Impact Management Project, the World Economic Forum, and Deloitte. I
Silicon Therapeutics, a privately-held, fully integrated drug design, discovery and development company focused on small molecule therapeutics, today introduced an updated corporate website, which reflects the company’s mission, research approach and core values.
The new Silicon Therapeutics site more accurately tells the company’s story and clearly highlights the company’s mission to improve the lives of patients by creating novel, disease-modifying medicines for challenging targets, using its proprietary, quantum physics-driven discovery engine.
“We worked to develop a meaningful brand architecture and visual identity that embodies the company’s strategic approach and core ethos,” said Lanny Sun, co-founder and chief executive officer. “This project has been part of our strategy to more fully engage with investors, potential partners, scientists and future employees while highlighting our differentiated approach and the opportunities that our platform presents for the company.”
The new site is expanded with deeper scientific content and the layout is structured for ease of navigation to provide a seamless user experience.
“While the new brand identity gives Silicon Therapeutics a bright and sophisticated look with distinctive graphics and other visuals, this update was not just cosmetic,” said Woody Sherman, Ph.D., chief scientific officer, who led the initiative. “Visitors to our website can efficiently learn about our proprietary computational physics platform, explore our pipeline, understand our research focus and gain a glimpse into our unique culture.”
The Silicon Therapeutics platform enables the company to perform accurate, atomic-level, quantum physics-based simulations fast enough and at the scale necessary to reveal essential drug design insights and break through the bottlenecks preventing effective discovery of therapeutics for biologically validated but chemically intractable targets. The platform is cohesively integrated with a world-class wet lab including biophysics, chemistry and biology, enabling rapid hypothesis-driven data generation to advance drug discovery projects on targets that have traditionally been considered undruggable.