Life in ‘Anarchist’ New York City

I saw a woman drinking iced coffee in 57 degree weather. OK, chaos agent!

#barr-william-p, #brooklyn-nyc, #justice-department, #new-york-city, #trump-donald-j

0

New York Will Review Virus Vaccines, Citing Politicization of Process

New York officials do not play a role in the approval of a vaccine, but could delay distribution if they believed the vaccine was not safe.

#coronavirus-2019-ncov, #cuomo-andrew-m, #food-and-drug-administration, #new-york-city, #new-york-state, #vaccination-and-immunization

0

Corey Johnson Drops Out of 2021 Race for N.Y.C. Mayor

Mr. Johnson, the City Council speaker, was one of the front-runners to succeed Mayor Bill de Blasio, but the recent rigors of his job had worn on him.

#city-council-nyc, #democratic-party, #elections-mayors, #johnson-corey, #new-york-city, #police-reform, #race-and-ethnicity

0

Valar triples down on Petal, leading $55M Series C round into the credit card disruptor

Sometimes raising venture capital can be as simple as talking to your existing investor and having them wire over another check.

When we last caught up with Petal in January 2019, the startup was hot off its $30 million Series B round and was accelerating its mission to take on the world of credit cards. Petal’s core differentiation is that it looks at the cash flow of potential borrowers rather than traditional credit scores to assess creditworthiness, helping to identify underbanked users who have the ability to be trusted with a credit card, but lack the formal statistics to prove it.

Well, a lot has happened since then. COVID-19 hit, and along the way, the traditional credit score has been rent asunder as millions lost their jobs, had their hours cut back, and changed life circumstances. At the same time, federal stimulus relief in the form of direct payments to taxpayers actually led some credit scores to increase during the pandemic. All of this is to say that underwriting based on prospective cash flow has been a bit more attuned to reality rather than credit scores based on retrospective history.

Now, the New York City-headquartered startup is expanding, and netted a $55 million dollar Series C round led by Valar again, who not only led the company’s Series B, but also its $13 million Series A round back in 2018. This Series C round closed in April just after the COVID-19 pandemic got fully underway and is officially being announced today.

Valar, one of the many vehicles in the Peter Thiel capital universe, has staked its claim in the fintech world, backing companies like Even, Stash, N26, BlockFi, Point Card, and Taxfix. I asked Petal CEO Jason Gross his thoughts on why he took capital from his existing investors two more times, and his line was “if you’ve heard the expression, ‘if it ain’t broke don’t fix it.’” He continued, “Our view has been that if we already have a really great working relationship, and a lot of support and a dynamic that’s been successful in the boardroom, there’s no reason to necessarily change that.”

Gross said that the company’s model has allowed it to handle the storm of changes that have been underway this year. “It’s allowing us to make credit accessible at a period of time when legacy institutions — traditional banks and so on — are being forced to to pull back,” he said. “We’ve been able to continue to accurately understand what’s going on with the financial circumstances of our customers and applicants” allowing the company to “lean in” this year.

He noted the company has brought on “tens of thousands of customers” since the last time TechCrunch chatted with the company.

Petal has slightly tweaked the cosmetic design of the card. Photo via Petal.

Outside of fundraising and customer growth, the company has been busy. It launched a second office in Richmond, Virginia last year. It “has a really strong, kind of vibrant and emerging technology scene. It is the largest concentration of colleges in Virginia, and it also is a financial-services-heavy location,” Gross explained. Conveniently, it also shares the same time zone as NYC.

Back last September, the company raised $300 million from Jeffries as a debt facility to finance its credit card, and in February, it recruited Kaustav Das as its new chief risk officer. Das came from small business loan platform Kabbage, which was sold to American Express earlier this year following the heavy economic blow from the pandemic to small businesses across the country.

Petal is now about 100 employees, and the company has been operating entirely remotely since March. Gross says his goal for the next two years is to onboard “hundred of thousands of new customers.”

In addition to Valar, a huge miscellany of funds participated in the round, including “Rosecliff Ventures, Afore Capital, RiverPark Ventures, Great Oaks Venture Capital, GR Capital, Nelstone Ventures, Abstract Ventures, Ride Ventures, Gramercy Fund, Adventure Collective, Starta Ventures, and NFL star Kelvin Beachum, Jr.” The company has now raised about $100 million of equity capital all together.

#credit-cards, #finance, #fintech, #funding, #fundings-exits, #new-york-city, #petal, #startups, #valar-ventures

0

Industry City: Here’s What Happened

After a long battle to rezone the business hub in Brooklyn, developers abandoned the plan, eliminating a possible 20,000 new jobs. 

#culture-arts, #industry-city-brooklyn-ny, #metropolitan-opera, #new-year, #new-york-city, #opera, #quarantine-life-and-culture, #zoning

0

100 N.Y.C. School Buildings Have Already Reported a Positive Case

Nearly all the buildings remained open, following city guidelines that say only those schools with two cases in different classrooms will shut.

#contact-tracing-public-health, #coronavirus-2019-ncov, #education-k-12, #education-pre-school, #health-and-mental-hygiene-department-nyc, #new-york-city, #shutdowns-institutional, #teachers-and-school-employees

0

Industry City Project in Brooklyn Defeated by Progressives

The developers behind Industry City abandoned a rezoning proposal after progressive leaders raised concerns about gentrification.

#area-planning-and-renewal, #gentrification, #industry-city-brooklyn-ny, #jamestown-properties, #menchaca-carlos, #new-york-city, #zoning

0

Dust Off Desks and Boot Up Terminals: Wall St. Returns, Fitfully

New York’s finance industry is beginning to reoccupy offices in fits and starts, impeded by uncertainty around the virus.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #labor-and-jobs, #mudrick-capital, #new-york-city, #quarantine-life-and-culture, #workplace-environment, #workplace-hazards-and-violations

0

87% of N.Y.C. Bars and Restaurants Fell Short on Rent

Despite a plethora of outdoor dining and the plans to allow some indoor dining by next week, the outlook for the food service industry is grim.

#bars-and-nightclubs, #coronavirus-2019-ncov, #coronavirus-reopenings, #cuomo-andrew-m, #de-blasio-bill, #new-york-city, #renting-and-leasing-real-estate, #restaurants, #weld-george

0

Black New Yorkers Are Twice as Likely to Be Stopped by the Police, Data Shows

A report shows Black neighborhoods have been more heavily patrolled, but police officials have said that enforcement is mostly driven by 911 and 311 calls, not racial bias.

#black-people, #bloomberg-michael-r, #bratton-william-j, #city-council-nyc, #crime-and-criminals, #de-blasio-bill, #discrimination, #giuliani-rudolph-w, #new-york-city, #police-department-nyc, #race-and-ethnicity, #racial-profiling

0

How New Yorkers Found Resolve After 6 Months of Pandemic Hardship

It is not a tale of triumph. Fear persists about what lies ahead. But small transformations have unfolded that reveal the grit and gifts of the city’s people.

#brooklyn-nyc, #coronavirus-2019-ncov, #immigration-and-emigration, #layoffs-and-job-reductions, #manhattan-nyc, #new-york-city, #quarantine-life-and-culture, #shutdowns-institutional, #street-vendors-non-food

0

9 of Every 10 Restaurants and Bars in N.Y.C. Can’t Pay Full Rent

A survey conducted by an industry group found that many establishments were still facing a financial crisis even after opening for outdoor dining.

#coronavirus-2019-ncov, #de-blasio-bill, #new-york-city, #renting-and-leasing-real-estate, #restaurants, #shutdowns-institutional

0

Trump Uses E.P.A. Office to Widen ‘Anarchist’ War vs. New York

The president has painted New York as an “anarchist jurisdiction,” but his administration’s threats to withhold funds are being dismissed as a politicized campaign tactic.

#barr-william-p, #environmental-protection-agency, #federal-aid-us, #new-york-city, #presidential-election-of-2020, #relocation-of-business, #trump-donald-j, #wheeler-andrew-r

0

N.Y.C. Schools Reopen for a First Day Unlike Any Other

Up to 90,000 in pre-K as well as students with advanced disabilities streamed into about 700 school buildings for in-person classes.

#barr-william-p, #coronavirus-reopenings, #cuomo-andrew-m, #de-blasio-bill, #education-k-12, #education-pre-school, #education-department-nyc, #new-york-city, #trump-donald-j, #united-states-politics-and-government, #watches-and-clocks

0

N.Y.P.D. Officer Is Accused of Spying on Tibetans for China

Prosecutors said the officer told Chinese consulate officials that he could provide sensitive information about the internal operations of the Police Department.

#angwang-baimadajie, #communist-party-of-china, #new-york-city, #police-department-nyc

0

Photoville Adds New Venues, Vistas and Vision

A joyous jumble of 60-plus shows in five boroughs, it is a reminder of photography’s power not just to document crisis, but to help imagine better lives.

#arevalo-gosen-ana-maria, #art, #bousema-suzette, #claiborne-kevin-photographer, #cornwall-debi, #delano-pablo, #lefevre-erin, #new-york-city, #photography, #photoville, #quarantine-life-and-culture, #race-and-ethnicity, #robinson-nina-photographer, #vasquez-sofie-photographer

0

New Yorkers Honor Ruth Bader Ginsburg, Child of Brooklyn

The late justice grew up in Midwood, formed by its schools, library and synagogue. She was remembered across the borough and city.

#ginsburg-ruth-bader, #governors-island-manhattan-ny, #madison-james-high-school-brooklyn-ny, #midwood-brooklyn-ny, #new-york-city

0

Finally, Some Students Will Return to New York City’s Classrooms

Up to 90,000 children in pre-K and students with advanced disabilities can go back to in-person school on Monday.

#children-and-childhood, #coronavirus-2019-ncov, #coronavirus-reopenings, #de-blasio-bill, #new-york-city, #quarantine-life-and-culture

0

Pandemic Puts N.Y.C. Hotels on the Brink: ‘A Complete Washout’

Several big hotels in the city have announced that they are closed for good, and some experts say that more shutdowns are coming.

#coronavirus-2019-ncov, #coronavirus-reopenings, #hilton-times-square-hotel-manhattan-ny-hotel, #hotel-association-of-new-york, #hotels-and-travel-lodgings, #hyatt-hotels-corp, #labor-and-jobs, #layoffs-and-job-reductions, #marriott-international-inc, #new-york-city, #shutdowns-institutional, #unemployment

0

‘As I Turned Around, I Saw the Woman in the Colorful Jacket’

A trip to a museum gift shop, a memorable day on Putnam Avenue and more reader tales of New York City in this week’s Metropolitan Diary.

#new-york-city

0

From Bike Blockers to Street Medics: The Anatomy of an N.Y.C. Protest

Some demonstrators in New York have taken on informal but crucial roles over a summer of marches. Here’s how to spot them.

#black-lives-matter-movement, #demonstrations-protests-and-riots, #new-york-city

0

Small Businesses Need Rent Breaks. But Landlords Are in Crisis, Too.

Some landlords are adjusting rent, while others hold firm. Their decisions are reshaping New York City’s neighborhoods.

#coronavirus-aid-relief-and-economic-security-act-2020, #cuomo-andrew-m, #cushmanwakefield-inc, #landlords, #new-york-city, #real-estate-commercial, #renting-and-leasing-real-estate, #restaurants, #shopping-and-retail, #stulman-gabriel

0

How N.Y.C.’s Mayor Ignored Warnings and Mishandled Reopening Schools

Mayor Bill de Blasio delayed the start of school for a second time, leading to an uproar among parents.

#coronavirus-reopenings, #de-blasio-bill, #education-k-12, #new-york-city, #teachers-and-school-employees

0

Rosh Hashana in the Pandemic: Rabbis, Cantors and Video Crews

The first High Holy Days of the coronavirus era will be celebrated this weekend, as rabbis try to deliver an online version of Judaism’s most sacred celebrations.

#coronavirus-2019-ncov, #holidays-and-special-occasions, #jews-and-judaism, #new-york-city, #new-york-state, #quarantine-life-and-culture, #rosh-hashana, #synagogues

0

Christian Siriano and Tom Ford Have an Unexpected Mind-Meld

The two designers brought New York Fashion Week to a close with a shared idea: Fashion should make you smile.

#collina-strada-fashion-label, #fashion-and-apparel, #ford-tom, #new-york-city, #new-york-fashion-week, #siriano-christian

0

A Messy Return to School in New York

As the United States’ largest public school system vows to let students return to the classroom, the run-up to the first day of school through the eyes of one teacher illustrates what these plans involve.

#coronavirus-2019-ncov, #coronavirus-reopenings, #education-k-12, #new-york-city, #washington-heights-manhattan-ny

0

Ready for School to Start? For Most Students, Not So Fast.

Mayor Bill de Blasio’s announcement of a phased start to in-person classes left many parents with little time to make alternative arrangements. 

#american-museum-of-natural-history, #coronavirus-reopenings, #de-blasio-bill, #education-k-12, #education-department-nyc, #new-york-city, #quarantine-life-and-culture, #teachers-and-school-employees

0

When a NYC MTA Bus Driver Told a Rider to Wear a Mask, ‘He Knocked Me Out Cold’

More than 170 New York City transit workers have been harassed or assaulted for asking passengers to wear masks.

#buses, #community-service-society-of-new-york, #coronavirus-2019-ncov, #fines-penalties, #masks, #metropolitan-transportation-authority, #new-york-city, #new-york-city-transit-authority, #police-department-nyc, #transit-systems, #transport-workers-union

0

When a Bus Driver Told a Rider to Wear a Mask, ‘He Knocked Me Out Cold’

More than 170 New York City transit workers have been harassed or assaulted for asking passengers to wear masks.

#buses, #community-service-society-of-new-york, #coronavirus-2019-ncov, #fines-penalties, #masks, #metropolitan-transportation-authority, #new-york-city, #new-york-city-transit-authority, #police-department-nyc, #transit-systems, #transport-workers-union

0

Why Giving Food Stamps to the Rich Is Not a Terrible Idea

Every child in N.Y.C. public schools was given a $420 benefits card. The well-off should use theirs to support food banks.

#food-insecurity, #new-york-city, #quarantine-life-and-culture

0

New York, a City on Its Own

The city has been failed by the federal government — and by leaders closer to home.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #de-blasio-bill, #new-york-city

0

N.Y.C. Will Again Delay Start of In-Person Classes for Most Students

The city had scheduled classes to start on Monday. Now, students will be allowed to return on a rolling basis, beginning with those in pre-K.

#coronavirus-2019-ncov, #de-blasio-bill, #education-k-12, #new-york-city

0

A ‘Textbook Example’ of a College Outbreak in N.Y.

Students, parents and staff members at SUNY Oneonta say a problem of lax screening was made worse by risky off-campus gatherings.

#art, #assn-of-art-museum-directors, #brooklyn-museum, #colleges-and-universities, #coronavirus-reopenings, #museums, #new-york-city, #oneonta-ny, #state-university-of-new-york

0

Is This the End of the New York Yoga Studio?

Soaring rents, the pandemic and the rise of the Instagram yogi could mean the demise of the urban wellness oasis.

#e-learning, #layoffs-and-job-reductions, #new-york-city, #quarantine-life-and-culture, #renting-and-leasing-real-estate, #shutdowns-institutional, #yoga

0

How to Get a Virus Test Result in N.Y.C. in 48 Hours or Less

With schools set to reopen this month, families can get quick results at public hospitals and new rapid testing clinics as the city works to improve its testing system.

#chokshi-dave-a, #coronavirus-2019-ncov, #new-york-city, #teachers-and-school-employees, #tests-medical, #varma-jay-k

0

NYC Mayor to Furlough 495 Staff Members for a Week, Including Himself

The symbolic move, which would yield $860,000 in anticipated savings, could be a precursor to similar maneuvers to slash the budget.

#budgets-and-budgeting, #coronavirus-2019-ncov, #de-blasio-bill, #layoffs-and-job-reductions, #new-york-city, #politics-and-government

0

Schools Are Nearly Back. Here’s What to Know.

New safety measures are in place, and many parents are relieved at the thought of having their children out of the house and occupied.

#coronavirus-reopenings, #education-k-12, #new-york-city, #new-york-state, #presidential-election-of-2020, #strikes, #working-families-party

0

These Unsung Heroes of Public School Kitchens Have Fed Millions

This summer, they wore masks in hot kitchens to make free meals for New Yorkers. But their work is just getting started.

#air-conditioning, #coronavirus-2019-ncov, #education-k-12, #education-department-nyc, #new-york-city, #shutdowns-institutional, #summer-school

0

New York City Museums Offer Back to School Discounts

Many museums and zoos are offering free and discounted admission for students and caregivers in the next few weeks.

#american-museum-of-natural-history, #bronx-zoo-wildlife-conservation-park, #coronavirus-reopenings, #metropolitan-museum-of-art, #morgan-librarymuseum, #museum-of-modern-art, #museums, #national-september-11-memorial-and-museum, #new-york-city, #nycco, #whitney-museum-of-american-art

0

How Can Executives Reach the Mayor? Try a Strong Letter.

Business leaders wrote Bill de Blasio asking for help bringing their employees back to the office. He asked for their help in return.

#brooklyn-nyc, #condominiums, #coronavirus-reopenings, #de-blasio-bill, #goldman-sachs-group-inc, #high-net-worth-individuals, #jetblue-airways-corporation, #morgan-stanley, #new-york-city, #partnership-for-new-york-city, #queens-nyc, #real-estate-and-housing-residential, #warby-parker

0

Cynthia Nixon: The Coronavirus Has Laid Bare New York’s Public School Inequities

My TV show is a very safe place to work. My son’s school — well, it might check air circulation with a yardstick and toilet paper.

#coronavirus-reopenings, #cuomo-andrew-m, #de-blasio-bill, #education-k-12, #education-department-nyc, #new-york-city, #teachers-and-school-employees

0

How China Brought Almost 200 Million Students Back

We’re also rounding up thought-provoking ideas about Covid-era education, and bringing you the latest local updates for K-12 and college.

#atlantic-the-magazine, #axios-media-inc, #boston-mass, #boston-college, #california, #california-state-university, #children-and-childhood, #china, #colleges-and-universities, #communist-party-of-china, #connecticut, #coronavirus-2019-ncov, #coronavirus-reopenings, #de-blasio-bill, #e-learning, #education, #education-k-12, #florida-state-university, #football-college, #georgia, #los-angeles-calif, #maine, #massachusetts, #michigan-state-university, #new-york-city, #oregon, #rochester-ny, #shutdowns-institutional, #university-of-kansas, #university-of-michigan, #university-of-texas-at-austin, #washington-state, #wuhan-china, #yglesias-matthew

0

As N.Y.C. Reopens Schools, Homeless Families Face New Challenges

As a new experiment in remote learning begins, students who live in shelters or doubled up with family may not have the resources they need.

#coronavirus-2019-ncov, #e-learning, #education-department-nyc, #families-and-family-life, #feeding-america, #ford-foundation, #homeless-persons, #new-york-city, #new-york-times-neediest-cases-fund

0

Don’t Let the Pandemic End a 100-Year-Old Soccer Legacy

My league played through World War II and 9/11. Why do we have to stop now?

#coronavirus-2019-ncov, #new-york-city, #parks-and-other-recreation-areas, #soccer

0

Florence Howe, ‘Mother of Women’s Studies,’ Dies at 91

In 1970, she helped found the Feminist Press. It was hailed for making available “a legacy of writings by and about women.”

#books-and-literature, #colleges-and-universities, #deaths-obituaries, #feminist-press, #howe-florence, #new-york-city, #womens-rights

0

The Sunday Read: ‘The Children in the Shadows’

More than 100,000 of New York City’s public school students lack permanent housing. They are caught in bureaucratic limbo that often seems like a trap.

#homeless-persons, #new-york-city

0

‘I Was Enjoying Dinner Alone on My Favorite Boulder in St. Nicholas Park’

A quiet place on a summer evening, a taste of wine and more reader tales of New York City in this week’s Metropolitan Diary.

#new-york-city

0

Inside the Clash Between Powerful Business Leaders and N.Y.C.’s Mayor

The tensions burst into the open when 163 executives joined to criticize Bill de Blasio’s leadership. Others think their portrait of the city is overly bleak.

#coronavirus-2019-ncov, #coronavirus-reopenings, #coronavirus-risks-and-safety-concerns, #de-blasio-bill, #economic-conditions-and-trends, #high-net-worth-individuals, #new-york-city, #partnership-for-new-york-city, #politics-and-government, #wylde-kathryn-s

0

N.Y.C. Remembers 9/11 Amid a Pandemic

The solemn rituals that mark a tragedy that brought New York and the nation to its knees will be altered under the burden of another crisis.

#coronavirus-reopenings, #coronavirus-risks-and-safety-concerns, #national-september-11-memorial-and-museum, #new-york-city, #quarantine-life-and-culture, #september-11-2001, #world-trade-center-manhattan-ny

0

How to Birth a New American Theater

Six months dark. Thousands of artists out of work. Could this disaster have a surprise ending? Five critics on what must change, onstage and off.

#income-inequality, #new-york-city, #quarantine-life-and-culture, #race-and-ethnicity, #theater, #unemployment, #web-original-programming

0