On Tuesday, President Donald Trump announced the launch of new company called Stargate, which intends to build new AI infrastructure for OpenAI in the US. A $500 billion investment will help the initiative through an executive action that would employ emergency declarations to fast-track production and streamline regulatory hurdles for participating companies. The announcement of Stargate comes after the president revoked a six-decade-old executive order that aimed to end DEI programs within federal agencies, with plans to deter DEI in the private sector. However, three companies participating in the Stargate
According to a Tuesday court filing, Mastercard has agreed to pay $26 million to settle a proposed class action lawsuit which alleged it underpaid female, Black, and Hispanic employees, as per The New York Times. Four Masterard employees who previously worked at the company believed it had hired women and workers of color into lower-paying roles. Their suspicions grew as employees received fewer raises and promotions than white men doing similar work. Additionally, the lawsuit charges Mastercard with violating federal laws banning pay discrimination and workplace sex and race bias.
Yesterday, President Trump revoked a six-decade-old executive order that prohibited workplace discrimination by federal contractors. President Lyndon Baine Johnson had signed the executive order just one year after the Civil Rights Act of 1964 and months after the Voting Rights Act. Trump revokes Executive Order 11246 Executive Order 11246 stopped federal contractors from discriminating against employees on the basis of race, color, religion, national origin, sex, sexual orientation, or gender identity. This law applied to federal contractors and was implemented just two years after Rev. Martin Luther King Jr. gave
Kevin Hart has become CEO of his entertainment company, Hartbeat Productions. Two CEOs left the company within 15 months, while nearly 20 employees were dismissed during the same period. The CEO’s exits were due to differences of opinion over the company’s strategic direction. However, they left the company on good terms, according to Bloomberg. Layoffs in Hollywood These layoffs speak to the challenges all independent production companies are experiencing during Hollywood’s time of austerity. Production companies struggle to sell many shows, forcing major studios and networks to limit their output
In this episode, Abadesi and Michael talk about the realities of layoffs, sharing personal experiences and tips on spotting the warning signs, preparing for them, and handling the aftermath. They discuss the importance of mental health, financial planning, and side hustles to help diversify income. It’s a practical and helpful conversation for anyone dealing with job uncertainty or recovering from a layoff. Chapters00:00 Introduction to Layoffs and Personal Experiences06:13 Understanding Job Security in Different Roles15:04 Immediate Steps After Being Laid Off Listen to the episode You can find the Techish podcast on Spotify, Apple,
Robin AI, a Black-owned legal AI startup, has won second place on the Startups 100 index. The startup uses AI to automate contract reviews, slashing costs and freeing up legal teams. Last year, it raised $25 million in a unique extension of its Series B funding round. The company was founded in 2019 by former Clifford Chance lawyer Richard Robinson and machine learning researcher James Clough. “Robin AI are truly ground breaking in their innovation, aiming to cut down legal processing times. Despite the challenges, the UK is still a
Fundment, a Black-owned all-in-one tech platform for financial advisers, raised £45 million ($55.4 million) in Series C led by Highland Europe, as per Tech Funding News. The investment will scale the team, develop the product, and achieve future growth. Financial advisers are under more pressure than ever, which is why the global financial planning software market is set to amount to $18.1 billion in the next decade. For this reason, Fundment aims to create innovative solutions for financial advisers that will allow a smooth experience for their clients. “Financial advice is
After 20 years, Mellody Hobson will leave her board role at Starbucks. Hobson’s career at Starbucks began after she was recruited to serve on the Board by Howard Schultz in 2005; she became vice chair, chair, and independent director. “On behalf of everybody at Starbucks — and every partner who has gone before — thank you, Melody, for your leadership, your tremendous care, your passionate support, and for being a loyal shareholder,” Chairman and Chief Executive Officer Brian Niccol said in a statement to partners. Hobson at Starbucks Hobson spent
Lidiane Jones will step down from her role as CEO of Bumble Inc. and Founder and Executive Chair; Whitney Wolfe Herd will step in Jones’ place. Herd will transition to Chief Executive Officer, effective mid-March 2025. Jones said she is leaving her role due to personal reasons, according to a press release. “Bumble has made tremendous progress over the past year in building a platform for renewed, sustainable growth, and I will be forever proud of the work we’ve done for this beloved global brand,” Jones said. Whitney Wolfe Herd
Africa-focused venture capital firm Oui Capital returned its $4 million debut fund after the sale of some shares in Nigerian fintech unicorn Moniepoint, as Techcrunch reports. Oui Capital’s Investment in Moniepoint Last year, the Nigeria-based fintech company successfully raised $110 million in a Series C funding round. That raise gave the company a valuation of at least $1 billion for the first time, according to the Financial Times. When Moniepoint first launched its fund, Oui Capital invested $150,000 in the company, but it has now accumulated an $8 million return, which
