Rojin Nair, Advisor
June 1st, 2021
Protocol | Benjamin Pimental | Jun 17, 2022
Brex had sent emails to tens of thousands of small businesses, telling them that the financial services company would no longer be able to serve their needs. After expanding its business from tech startups to traditional small businesses, including mom-and-pop shops, Brex had decided to pull back to its original core customers sparking harsh criticisms online. “This Brex account closure sucks,” one Twitter post read.
I would say that the amount of companies that we onboarded every month multiplied by 25. It's definitely in the tens of thousands. So think of that and how that impacts a company. Restaurants, retail shops, bakeries, florists, hairdressers, small design agencies. Small professional services, two-people design firms, things like that. If you're affected, you'll "need to move your bank account to a different provider."
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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MLI | Charles Burton | Jun 9, 2022
On June 7, 2022, the Macdonald-Laurier Institute was pleased to host a book re-launch of Sam Cooper’s Wilful Blindness: How a network of narcos, tycoons and Chinese Communist Party agents infiltrated the West.
Opening remarks were delivered by MLI Senior Fellow Charles Burton; Dean Baxendale, Publisher at Optimum Publishing International; and Adam Chambers, Member of Parliament.
A panel discussion followed, focusing on money laundering, transnational organized crime, and national security. The discussion, moderated by Senior Fellow Charles Burton, featured Sam Cooper, author of Wilful Blindness; Jessica Davis, President at Insight Threat Intelligence; and James Cohen, Executive Director at Transparency International Canada.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Global Compact Network Canada | May 2, 2022
Beginning of February 2022, the UN Global Compact Network Canada received funding through the Department of Innovation, Science and Economic Development Canada (ISED) as an Ecosystem Partner supporting the 50-30 Challenge. The 50-30 Challenge addresses the need to implement effective diversity and inclusion strategies to help organizations expand their talent pool, retain staff, and overcome skills gaps in a changing economy. Challenge participants have committed to the following representation goals for board and executive positions: 50% women and 30% diverse representation with particular attention on racialized people, Indigenous peoples, those with disabilities, and members of the LGBTQI2S+ community.
As an Ecosystem Partner, the UN Global Compact Network Canada is implementing a three-year project to support organizations in meeting the 50-30 Challenge representation goals. This project is designed to provide all Canadian participants of the 50-30 Challenge with the tools, training, resources, knowledge and networking opportunities to achieve ambitious targets as well as foster greater capacity for diversity, equity, and inclusion efforts in the future. To cultivate long-term growth, the UN Global Compact Network Canada will be employing a framework in accordance with the Sustainable Development Goals (SDGs) – specifically SDG 5 and SDG 10 – which focus on achieving gender equality and reducing inequality within and between countries.
This project builds on the 2018 amendments to the Canadian Business Corporation Act that requires distributing corporations to report on their boards and senior management.
Beginning in February 2022, the UN Global Compact Network Canada’s project, “The Future is Equal: Enabling Ecosystems of Support in Canada” will run until March 2024, when the final project deliverables and resources will be made publicly available. The project is divided into the following phases and activities:
Phase I: Series of Capacity Building Workshops: Summer 2022 – December 2023
Phase II: Development of Case Studies: April 2023- October 2023
Phase III: Multi-stakeholder Event: March 2024
The 50-30 Challenge is open to large companies, small and medium enterprises, post-secondary institutions, not-for-profit organizations (including hospitals), charities and agencies boards and commissions. Access to the UN Global Compact Network Canada’s project activities will be available to all Challenge participants and organizations interested in learning about meeting representation targets.
For more information on the 50-30 Challenge, visit the 50-30 Challenge website.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Reuters via Global News | Staff | Apr 18, 2022
Elon Musk took a swipe at the board of Twitter on Monday after the social media company adopted a “poison pill” to protect itself from the second-biggest shareholder’s US$43 billion cash buyout offer.
“Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there,” Musk tweeted in response to a user’s post criticizing the board.
Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there
— Elon Musk (@elonmusk) April 18, 2022
Musk, a self-described “free speech absolutist” who has been critical of Twitter’s policies, did not elaborate on the tweet. Twitter did not immediately respond to a request for comment.
Continuing his tirade against the company, Musk had launched a poll on Thursday asking his 80 million followers if “taking Twitter private at US$54.20 should be up to shareholders, not the board,” to which a large majority responded “Yes.”
Meanwhile, in a series of tweet replies, co-founder and former CEO Jack Dorsey called out Twitter’s board on Saturday, saying:
“it’s consistently been the dysfunction of the company.”
The Verge | Andrew Hawkins | Apr 16, 2022
On Thursday, April 14th, Elon Musk announced an offer to buy Twitter for $54.20 a share.
The day after Musk announced his proposal to buy Twitter, the company’s board responded with a poison pill. This is basically the board’s way of saying, “Thanks, but no thanks.”
The poison pill consists of a new “shareholder’s rights plan” to give certain shareholders the right to purchase more stock if Musk or another buyer attempts to seize control. And it signals that Twitter’s board intends to fight Musk’s bid to take sole ownership of the company.
He hasn’t lined up the financing to buy Twitter and take it private. He is working with Morgan Stanley, but it’s anyone’s guess whether he’s actually listening to them. Musk himself said he may not win in the end. If he succeeds in pressuring Twitter to make the changes he wants, he may just retract his bid. All things are possible.
Twitter’s first all-hands meeting after Musk’s bid went public was a weird one. After serenading employees with Backstreet Boys and Aretha Franklin, the company said it would continue to evaluate the offer.
Employees told Alex Heath they were frustrated by the lack of a more detailed response. They’re concerned about the future of the social media platform, as well as the possibility of layoffs.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Sifted | Aline Eibl | Sep 2020
When I entered the startup world as an investor, I saw boards composed of founders, management and all-male investors. The topics on the table were only about money: figures, KPIs and growth. Where I expected a guiding light for diversity, ESG, values, purpose — you name it — there was money-talk. Even the corporate world left that behind years ago.
Investors are mostly capable and experienced people, but rarely do they meet the main criteria for a board member: relevant, diverse and independent. The best board members are strategically engaged but operationally and financially distant without a conflict of interests.
From Silicon Valley to Europe, independent board members remain an exception. An Australian survey showed that only a quarter of startups have independent directors. By definition, board members should have the company’s best interests at heart. But all too often, investors are thinking about their return on investment.
Independent advice is critical — to deepen perspectives and find new ones, for conflict resolution and building bridges, mentoring and, most importantly, bringing in a set of diverse viewpoints. Boards that bring in the right balance of expertise fill in gaps of knowledge and experience, offer access to global networks and can help founders build higher-performing startups.
Bringing diverse and independent opinions around a table has proven to be an effective remedy against biased and overly speedy decision making in the boardroom. Diversity is not only about gender, but goes far beyond, addressing age, ethnicity, background, experience, industry, sexual orientation and focus topics. On the majority of startup boards, diversity fails at the first point (despite this having an impact on financial performance).
The “secret sauce” of a successful board process is reaching out for different opinions and exploring blind spots. Having a variety of voices around the table that reflect the company’s strategic goals, and a diverse range of customers and stakeholders is the only way to go. Startups with professional boards have shown to be more resilient — and can be more attractive to VCs and private equity investors. Internally, professional boards add value by giving a vision and a purpose-value compass which helps attract and enthuse talent.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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