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Venture Capital

Where is Our Support System?

We are one of the wealthiest countries in the world and we have no support system. It is time. When COVID hit Europe, they locked down. Life has changed but things are pretty much back although the travel industry has suffered tremendously and that has rocked the economy. What is worth asking is what is […]

The post Where is Our Support System? appeared first on Gotham Gal.

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We are one of the wealthiest countries in the world and we have no support system. It is time.

When COVID hit Europe, they locked down. Life has changed but things are pretty much back although the travel industry has suffered tremendously and that has rocked the economy. What is worth asking is what is going to happen to many Americans when we all get to the other side because we are certainly not there yet. Every country seems to be on their second rebound, we haven’t even got through the first round.

What makes us different as a country is our lack of support systems. It has become quite obvious that our businesses are leveraged to the hilt and very few have the capital to remain afloat for long. Businesses are closed and closing, people are not getting a paycheck to pay the rent and put food on the table. What will happen when the paycheck never returns?

In Europe, they won’t see home evictions, encampments of homeless people, hungry children, and destitute families because there is a support system. It might have taken a toll on the Government but that is what the Government is for.

Everyone in Europe has access to healthcare. Cash is being given to those who need it. Arts are supported. There are many other things supported by the so-called system but the good news is everyone stays afloat.

In the US, people who have lost their jobs, their support, their homes, and now find themselves somewhere that they never had dreamed of….on the street, in the food lines and couch surfing until the couches dry up. As a nation, we should be helpful to everyone one of these people. We need to rethink our system where there are more safety nets.

Our Government is not doing a good job of creating a support system that might be costly in the short term but the financial good actually ends up being good for everyone in the long run. Let’s watch the European economy rebound vs ours. We don’t have to look that far to see how having a safety net for anyone in bad times is a very good thing.

Source: https://gothamgal.com/2020/08/where-is-our-support-system/?utm_source=rss&utm_medium=rss&utm_campaign=where-is-our-support-system

Venture Capital

Impeding Freedom?

Where did the notion that freedom means being able to walk around without a mask during COVID with an AK47 slung over ones shoulder? In NYC if you are pulled over for not wearing a seatbelt you can receive a ticket and get up to three points on your license. 50% of drivers who are […]

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Where did the notion that freedom means being able to walk around without a mask during COVID with an AK47 slung over ones shoulder?

In NYC if you are pulled over for not wearing a seatbelt you can receive a ticket and get up to three points on your license. 50% of drivers who are killed in a car accident were not wearing a seat belt. Seatbelts save roughly 15,000 people’s lives a year. It is a safety issue for everyone.

Since 1980, MADD (Mothers Against Drunk Driving) have saved almost half a million lives. Most states consider drunk driving a felony. I support that drunk driving is illegal so people don’t do it.

You can’t get a drivers license until a certain age, depending on the state. You can’t buy liquor until you are 21. Cigarettes can’t be bought until you are 18. Can’t vote until you are 18. Can’t sign up for the military until you are 18. Can’t work until you are 18 unless it is a certain kind of part-time job as in kids in this country are not sitting at factories working at 13. All of these are laws that our country holds for a reason. Is that taking away our freedom?

Both drunk driving and seat belt wearing have had non-profit organizations do a great job of educating people to obey the rules. Is that impeding freedom? You can’t murder someone, you can’t break into someone’s home, you can’t steal someone else’s property, you have to pay your taxes and you have to send your kids to school vaccinated. Those are just a few laws that create a civilized society.

The politicalization of mask wearing has created this anger from many who believe that wearing a mask is taking away their freedom. I have seen nurses in North Dakota describe how people are dying in hospitals and refuse to believe that they have COVID because it doesn’t exist and die angry instead of connecting with their loved ones. How awful is that?

How about the freedom of those trying to not get COVID? Would those people feel the same way if someone broke the law by driving drunk without a seat belt that crashed into their families car and ended up killing someone they loved?

Masks save the spread of COVID. Anyone who protests that wearing a mask is impeding their freedom should be locked up inside their house where they can walk around without a mask until the pandemic comes to a close.
Perhaps there should be a law around that.

Source: https://gothamgal.com/2020/11/impeding-freedom/?utm_source=rss&utm_medium=rss&utm_campaign=impeding-freedom

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Private Equity

GlaxoSmithKline spinout SR One strikes $500m hard cap for debut independent fundraise

Transatlantic biotech investor SR One has raised its first fund in the wake of spinning out from pharmaceutical giant GlaxoSmithKline.

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Transatlantic biotech investor SR One has raised its first fund in the wake of spinning out from pharmaceutical giant GlaxoSmithKline.

SR One has hauled in $500m for the oversubscribed vehicle, with GSK the largest investor in the fund. Other LPs include institutional asset managers, endowments, foundations, pension funds and family offices.

The firm said it would use the fund to build elite biotechnology companies developing innovative medicines that address significant unmet needs.

SR One CEO Simeon George, who has been with the firm since 2007, said, “Our spin-out from GSK and successful raise of a new independent fund provide a foundation for SR One’s next chapter, enabling us to scale our investment strategy and build upon our track record of success.

“Joining our core team in Europe are Venture Partners Rodger Novak and Eliot Charles, who played key founding roles in SR One portfolio companies CRISPR Therapeutics and Principia Biopharma, respectively.”

Goldman Sachs acted as the sole global placement agent for the fundraise, while Kirkland & Ellis acted as counsel to SR One.

Copyright © 2020 AltAssets

Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/glaxosmithkline-spinout-sr-one-strikes-500m-hard-cap-for-debut-independent-fundraise.html

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Private Equity

Ashton Kutcher’s VC firm Sound Ventures eyes another $150m fundraise

Hollywood actor Ashton Kutcher and talent manager Guy Oseary are back in the venture capital fundraising market eyeing $150m for their third Sound Ventures fund.

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Hollywood actor Ashton Kutcher and talent manager Guy Oseary are back in the venture capital fundraising market eyeing $

Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/ashton-kutchers-vc-firm-sound-ventures-eyes-another-150m-fundraise.html

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