LifeBrand’s finances before the layoffs
LifeBrand laid off its entire team of 30 a few weeks ago, CEO Thomas “TJ” Colaiezzi previously confirmed to Technical.ly. Employees at the Philly-area startup describe weeks of missing paychecks and leadership disruptions leading up to the mass layoff.
➡️ Read about the financial and leadership problems prior to the layoffs
Asian Americans take on the TikTok ban
Congress passed and President Joe Biden in April signed a bill that would ban TikTok nationwide unless it’s sold to a non-Chinese parent company.
“The singling out of TikTok makes Asian Americans feel they have a target on their backs,” said Cynthia Choi, who is co-executive director of the advocacy group Chinese for Affirmative Action.
➡️ Read more about why Asian Americans are concerned for their communities
News Incubator: What else to know today
• The University City Science Center announced its new cohort of Founders Fellows. The five members of this cohort are working on research related to aging and/or Alzheimer’s Disease. [The Science Center/Techncial.ly]
• HR tech company Phenom released its annual State of Candidate Experience: 2024 Benchmarks Report. The report found that most Fortune 500 companies are not taking advantage of data and personalized information to help job candidates find roles that are a good fit. [Businesswire/Techncial.ly]
• Crunchbase found that the amount of U.S. venture funding that went to startups with at least one female founder hit a new high in 2023. [Crunchbase]
• The Pennsylvania Broadband Development Authority released details about the timeline for its Digital Connectivity Technology Program, which will distribute devices to institutions across the state. [DCED/Technical.ly]
🗓️ On the Calendar
Sarah Huffman is a 2022-2024 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Lenfest Institute for Journalism.
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