🕶e8: Are Internships Dead? Useful COVID-19 Tracker? Mining in Space?
🕶e8: Are Internships Dead? Useful COVID-19 Tracker? Mining in Space?
👋 Good Morning and Happy Sunday! Welcome to the e8 newsletter, a hand-picked collection of business and start-up news, resources for entrepreneurs, job/internship postings, and noteworthy trends that are happening this week! I hope you find this weekly newsletter informative and engaging, and as always, stay healthy!
Business/Start-up News
❗College students and soon to be graduates are scrambling to discover their next move. As many students' have learned that their summer plans are being affected due to COVID-19, employers must decide the fate of their up and coming plans, and the interns who come with them. Since health and safety is a top priority for many businesses, companies are making drastic changes from working remotely to facing layoffs and even closures. Interns do not know what programs will remain in place or what companies will even remain open.
ZipRecruiter reported a fallen 31% of internship openings advertised on their website
Glassdoor, StubHub, Funding Circle, Yelp, Checkr and even the National Institutes of Health, have canceled their internship programs due to COVID-19
Goldman Sachs delayed and shortened their intern program, though interns will be compensated in full
For companies that rely heavily on early talent, cancellation of internship programs may result in diminishing long-term success. Young talent-driven businesses have moved their summer programs virtually including Google, Twitter, IBM, Microsoft, Lyft, and Salesforce, reported Axios.
👔 Current State of U.S. Employment
Last week alone, more than 4.4 million Americans filed for unemployment insurance according to the Department of Labor.
22 million people have lost their jobs and filed for unemployment since the COVID-19 crisis hit the U.S.
Prior, U.S. unemployment was at a historic low of 3.6%
💳 Leaked Google Debit Card? As fintech is maturing and providing more holistic and feasible solutions for customers, many large tech companies are looking to be at the forefront of the changing landscape of transactions. According to a report from TechCrunch, Google is currently testing a branded smart debit card that will help customers make and track purchases from online and in-store transactions. The card will help customers track purchases, leverage Google tools such as Maps, and allow heightened security measures like being able to lock the card through the Google Pay app. Although this is a debit card and not credit, it is not yet reported if Google will be providing any incentives such as cashback as seen on the Apple Card.
Competitors: Major competitor Apple launched its version of its credit card this summer. Although Goldman Sachs had announced that it had issued over $10 billion in credit for holders, and that card users have used over $730 million in loan balances, that doesn’t necessarily mean it has been successful. Nonetheless, Apple has not yet announced any key metrics related to their Apple Card. Bit strange…right?
🦠 COVID-19 Tracker? Can it Help?
Instagram co-founders Mike Krieger and Kevin Systrom recently launched rt.live: a COVID-19 tracker. This tracker is different from many others as it tracks Rt, a key measure of how fast the virus is growing in each state. “Rt” measures the average number of people who become infected by an infectious person in a specific location. A measure greater than 1 indicates the virus spreading, and vise versa.
What’s the Point?
As it is up to the states to reopen non-essential businesses and stay at home order restrictions, these graphs could be vital in determining how states are performing once restrictions lessen. If the graph starts to escalate while the restrictions have loosened up, states could use this tool to reimpose social distancing and stay at home orders if needed. We are slowly witnessing some states and countries relaxing their stay at home orders.
Bookstores, laundries and children's clothing stores, have reopened in Italy (hardest-hit region Lombardy remains on lockdown)
Norway begins to open schools for younger children, and businesses such as hair salons will be permitted to reopen
According to rt.live as of April 25, 2020:
Nebraska has the highest score: 1.31
Ohio scored lowest: 0.79
🏊♂️Heads-up display A/R Swim Goggles! Ever wanted to track how fast you are swimming? Form has developed augmented reality smart display swim goggles that track key metrics intelligently while in the water. Form currently tracks split time, pace per 100, distance, interval time, rest time, total time, stroke rate, stroke count, distance per stroke, pace per 50, length count, calories burned, and heart rate support.
👀Interesting Follows
🚀 Trump Administration wants to mine resources in space?
🌠 List of 25 Different Technology Trends that will shape our next decade!
🌡️ Large Corporations are starting to screen employees by checking their temperatures. And do employers need their consent?
💰 Take a look at who is hiring right now!
🛏 Casper doesn’t seem too comfy anymore
🍿 Netflix adds over 15 million subscribers, but how long can the growth last?
💬 Facebook rolls out new feature “Messenger Rooms,” as real-time video demand surges
☕ Step Up Your Game: Become The Barista You Always Wanted To Be
💼Jobs/Internships
New York
Academy Internship (Point72) / Summer 2021
Acquisitions Internship (Starwood Capital Group) / Summer 2021
Social and Digital Intern (KIND)
Los Angeles
Intern (TikTok)
Financial Analyst (B Capital Group)
Financial Analyst (Clutter)
Private Equity Analyst (Arrowroot Capital)
Investment Analyst - Buy Side (Guggenheim)
Chicago
Investment Banking Analyst (William Blair) / Summer 2021
Equity Capital Markets Analyst (William Blair) / Summer 2021
Investment Banking Analyst (Guggenheim) / Summer 2021
Investment Banking Analyst (Peper Sandler) / Summer 2021
Intern (Jet Support Services, INC - JSSI)
👏Recommendations
🎙️ Podcasts
The Full Ratchet: Kingmaking, De-Risking Every Investment & the Future of Real Estate Tech (Brendan Wallace)
Many are either unsure or have not heard of "RE property Technology," arguably the most "early-inning" investment area for VC's. Hosted on Nick Moran's (IU Alum~Go Hoosiers) podcast TheFullRatchet, Brendan Wallace, founder of Fifth Wall VC, explains how prop-tech may reshape our everyday lives.
In particular, we were fascinated by his discussion on how the emergence of the automobile in the early 1900s sparked suburbanization, RE development, infrastructure, etc. With that, he suggests that the electrification/automization of vehicles could change the way we interact with the built world. Thank you, Drew Hyman, for highly recommending this thought-provoking podcast to any of our readers.
🎺 Music
🔥 Freebies
✍️ Transcribe your Zoom calls with Otter.ai’s powerful AI-powered assistant. Now you can easily check back on your lectures and meetings for any details you might have missed. Otter.ai records in real-time, while also allowing users to organize, edit, share their conversations from any device.
📈New Favorite Productivity App: Notion. Notion.so is an all-in-one workspace where you can write, plan, collaborate, and get organized - it allows you to take notes, add tasks, manage projects & more. Get that ish!
💡Need Help Creating a Name? Let AI Do The Trick: Namelix. Creating a new name can be extremely difficult and overwhelming. Namelix is a creative solution in which users simply enter a few branded keywords, name length, and name style, and AI automatically generates hundreds of potential names. PLUS, Namelix automatically creates logos and provides color pallets to help bring inspiration to your brandable names!
💯Thank You For Reading, See You Next Week
*Special thanks to our editor Britney Facenda!
What's up, my name is Evan Hiltunen! I am a senior studying finance at Indiana University and incoming financial analyst @Goldman Sachs. I have a strong passion for start-ups, finance, and technology, and hope you can find this newsletter informative!
Thanks for reading e8. I’d love your feedback - feel free to email us at thee8newsletter@gmail.com