The Flash this week looks at statistics released last week by Y Combinator during its semiannual Demo Day, and sees that its startup founders are overwhelmingly white and male. Though the lack of diversity in tech has been well covered, these numbers serve as a reminder of the need for diverse leadership among startup companies. The Flash also updates on an ongoing topic of focus for FWB: the JOBS Act. Recently finalized SEC rules should help startups raise capital through small public offerings – but we shall see if that is the effect. We also pull out some video footage of Box CEO and Co-Founder Aaron Levie explaining marketplace perceptions of the company, which went public in February (with Goodwin Procter representing the underwriter in the IPO). Check out these and others in our weekly roundup for Founders Flash!
- Y Combinator reports a startling dearth of female founders among startup companies. (Fivethirtyeight.com)
- SEC finalizes key JOBS Act rules that facilitate startup capital-raising through small public offerings. (Washington Post)
- Box soared in its trading debut after raising $175M in its IPO. See video of Box CEO and Co-Founder Aaron Levie speak about how the company remains “misunderstood.” (Bloomberg)
- Startups often struggle to find talent at manageable salary levels. (Entrepreneur)
- Alcohol-industry startups are increasing, with breweries, distilleries and other related industry startups raising $100 million in funding last year alone – with more expected to come. (TechCrunch)
- New SEC rules target high-frequency trading firms with stricter Wall Street regulations, FINRA registration requirements. (Wall Street Journal)