FS Monthly Roundup: September 2018

INSURANCE

• Why companies expanding to the US need a local insurance broker.
• How D&O Insurance differs for public vs. private companies.
• How Saas companies should develop a risk management program.

Read the blog posts below

COMPANY

We ordered some Rooms to put in our team call room for a bit of quiet/privacy.  We’ll report back on how they work when we receive them this month.

We’re close to launching a new Key Person product that will make the process easier and quicker than ever.  More to come on that shortly.

Our very own Jonathan Selby, GM of Founder Shield, got married!  Congrats to Jonathan & Michelle!

The Founder Shield fantasy football league is now in full swing and the first couple weeks of the seasons have not disappointed in both savage beatings and hard-fought victories.  Check out a sample of the weekly recap (written each week by the team with the least points):

“My personal favorite insurance pun team name, Hammer Claws, proves fortunate scheduling is sometimes all you need. They end up with the lowest winning point total, 99, but are undefeated nonetheless. The expectation moving forward is that McKenna scales his way up the standings, and tells people who didn’t ask how he’s really torn between whether he’s a Giants or Saints fan.”

Founder Shield Basketball team are off to a 2-1 start. Statistically speaking, teams that start 2-1 make the playoffs 54% of the time.

Let’s go Team FS!

Carl
Co-Founder & COO

Client Spotlight

Every month we like to feature some of our awesome, innovative clients in our monthly roundup and newsletter (you can sign up here if you haven’t already). 

Coming to the AppStore this month, BitWallet promises to be a cutting-edge solution to mainstream cryptocurrency transactions. The high-security cryptocurrency wallet allows users to initiate instant global money transfers with no fees. BitWallet is a repository and transfer system for the decentralized digital currency, Bitcoin, as well as other Blockchain currencies. Businesses can now accept cryptocurrency payments through BitWallet’s inexpensive (1%) payment processing that will battle Visa and MasterCard (3% on average) in the payments arena. BitWallet is a registered money service business with the United States Department of Treasury. Learn more at www.BitWallet.org.

Konnected is an innovative startup that aims to revive the tens of millions of outdated wired alarm systems in homes all across America. Launched on Kickstarter last year, the Konnected Alarm Panel connects sensors and devices from household wired alarm systems to popular smart home platforms like Samsung’s SmartThings and the open-source Home Assistant project. This enables users to take full control of their home security, automate their home with thousands of compatible smart home devices, and monitor their home from anywhere without any recurring fees.

Top Blog Posts of the Month

Expanding to the US? Use a local insurance broker.

Expanding to US? Find out why using local insurance broker can save you some big headaches. Read the full post…

Top 3 Ways to Mitigate SaaS Risks

It’s more critical than ever to ensure your company is ready for data breaches and downtime. Learn how to mitigate SaaS risk here. Read the full post…

Public vs. Private Company D&O Insurance Explained

Public D&O insurance has some key differences to its private counterpart. We walk through D&O claim scenarios, limits and the nuances you need to know. Read the full post…

News

• Think before you tweet–  It seems to be going from bad to worse for Elon Musk. The Tesla CEO has made a lot of headlines for his recent antics on Twitter, especially his claim that he had secured funding to take Tesla private @ $420 per share. The SEC launched an investigation in August which culminated in a fraud lawsuit alleging Musk made “false and misleading” statements. Stay tuned for our take later this week.
• ShareBnb  – Airbnb is petitioning the SEC to allow loyal hosts to take an equity stake in the company. Specifically, Airbnb wants to change Rule 701 of the Securities Act (which governs equity awards for private companies) to add a “gig economy worker” category. This could be a big development for the gig economy to attract new contractors and increase loyalty in the long term.
• WeWork takes over NYC  –  The coworking giant overtook JP Morgan as the largest commercial landlord in Manhattan. WeWork now rents over 5.3 million sq ft of office space and shows no sign of slowing down. Coworking spaces accounted for 9.7% of new leases signed in the first 8 months of this year.
• Jet relaunch –  Walmart owned jet.com unveiled a redesigned site last month in an effort to combat Amazon’s growing dominance. The new site clearly puts a strong focus on targeting millennials with 3-hour grocery delivery, Siri voice commands, and localized product catalogs based on your city. It remains to be seen how much of a dent it can make. Jet.com’s web traffic was less than 1% of Amazon’s and less than 5% of Walmart’s through August.

Fun Stuff

• Empty your wallets – Apple unveiled their shiny new toys last month. Here’s the TLDR;
  • iPhone Xs Max – Big as hell like the iPhone 8 plus. Software and hardware are like a better version of the iPhone X.
  • Phone Xs – Basically an upgrade of the iPhone X. Slightly better in all dimensions (battery, processor, etc). 3 metallic colors.
  • iPhone Xr – This is their attempt to provide a lower priced product to compete with Android phones. Camera and screen are weaker than iPhone Xs.
  • iWatch 4 – Better health tracking. Does ECG now. Thinner, but has more screen space. Now a walkie-talkie.
  • Applecare+ – Added an option for Theft and Loss protection

• Serial is back – The award-winning true crime investigative podcast hosted by Sarah Koening is back. The show’s third season kicked off with two episodes that centered on the Cleveland judicial system and the cases that run through it. It racked up an astonishing 3m downloads in 5 days.
• Digital craft beer cellar  – Tavour is your guide to finding new and exotic beers. From their app, you select from a daily rotating selection of beers from breweries all over the states. Detailed tasting notes and reviews help you locate new favorites or your next adventure. Then they store them in your cellar which gets sent to your front door. What’s better than great craft beers on demand? When I figure it out, I will let you know.
• Chart of the Month – Wondering how much more money the 1% make than the bottom 99%?

What We’re Listening To

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