Dear CEOs,

We are going to keep the intro brief as we know you are being deluged with information. In this update, we are providing 3 key topics areas and are launching two new resources for you to access.
  1. Links to some of the most up to date and comprehensive summaries of information about the Federal stimulus. There are lots of open questions still regarding the affiliate rules and how this impacts angel and venture backed companies. The rules are shifting, so do take note of when things have been updated and as always, leverage your boards and existing legal and banking relationships to determine what is appropriate for your company. We are quickly learning that "one size does not fit all". 
  2. We are including two articles to help you shift focus to a longer-term time horizon as we learn to adapt to the new-normal and internalize what this may mean for businesses over the medium and long term.
  3. As the COVID-19 pandemic continues to affect the health and daily life of so many, both personally and professionally, we have also selected some of the most useful guidance on working from home and managing a remote workforce.  
New Resources for Golden Seeds CEO Community

In response to the speed at which things are changing, and to allow for more timely information sharing and collaboration, we are launching two new resources for founders: 
  1. We have launched a public calendar with webinars from experts on topics of interest for founders and your teams:
  • To view the calendar in a web browser and bookmark and/or to add it to your Gmail calendars click here
  • If you are not a Gmail user and would like to subscribe to this calendar you can use this link to add it to your calendar application.

2.  We are launching a Slack Channel for the CEO's of Golden Seeds' companies.  This will evolve over the coming days and weeks.   We see this as a way to share information and resources amongst you and your peers.  Please reach out to Deb Kemper at dkemper@goldenseedsvc.com or via Slack with your ideas on ways to improve it.  We anticipate opening subchannels for local and state initiatives as one example; we are open to ideas that you would find useful.      



Regards,
Golden Seeds Investor Network  
Helpful Resources
Paycheck Protection Program FAQs
On April 7 the Treasury Department and the SBA posted an 18-point FAQ that addresses many key recommendations. 

Specifically, the FAQs align with many of the recommendations we made, such as:
  • The Gross Payroll approach should be used for both loan application and forgiveness. The guidance also clarifies that employer FICA should not be included. 
  • The $100,000 salary limitation does not include healthcare, retirement benefits, and state and local taxes.
  • Applicants who use Professional Employer Organizations (PEOs) can provide payroll reports since they cannot produce individual entity payroll tax documents.
  • Borrowers can calculate their aggregate payroll costs using data either from calendar year 2019 or from the previous 12 months. The FAQs also provide information for businesses that have been in operation less than 12 months.
Goldman Sachs US Small Business Resource Center 
Goldman Sachs has created a website that contains information about the Firm's partnerships and commitments to providing capital to small businesses. In addition, it has compiled information and resources to help small businesses, including 501(c)3 nonprofit organizations and 501(c)19 veteran's organizations, navigate accessing capital and support. 
Grasshopper Bank
Grasshopper Bank has updated their resource guide for startups and investors in this uncertain time. New content includes  raising capital, managing your business/career, CEO tips, market analysis, parenting tips & much more
Accessing Payroll Tax Credits
The Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") and the Families First Coronavirus Response Act ("FFCRA") provide eligible employers with refundable payroll tax credits for certain wages paid to employees during the Coronavirus pandemic. Read more here
The Red Backpack Fund
Sara Blakely, the CEO and founder of the shapewear brand Spanx, announced that she is giving $5 million to support female-run small businesses during the coronavirus pandemic. Link to more information. 
The VC and Founder Sentiment Survey
The VC and Founder Sentiment Survey is an ongoing initiative to track how early-stage investors and founders are reacting to the COVID-19 crisis. The goal is to provide a reference point to the community in the midst of one of the most unpredictable climate we've seen. 
Facebook Small Business Grants Program
Facebook is offering $100M in cash grants and ad credits to help during this challenging time. Link to more information here
Battling the Virus
McKinsey and Co. offers their perspective about what needs to be done. It includes suppressing the virus and shortening the duration of the economic shock. Click here to read the article. 
5 Ways Businesses Can Receive Cash Right Now
Here you can see an outline of five federal CARES Act programs designed to immediately put cash into the hands of businesses across the country. This was published on March 31st. 
The CEO's Psychology 
Check out this advice from a founder who has gone through the 2000 and 2008 downturns and survived. There are 8 mindshifts that can help you manage through a period of crisis. Link
Strategic Viewpoints 
Resources from McKinsey and Co.
COVID-19: Briefing Materials by McKinsey and Co

Clink the link above to access a presentation created by McKinsey and Co. that provides insight on the situation now and how it may evolve. 
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McKinsey and Co. offers their perspective about what needs to be done. It includes suppressing the virus and shortening the duration of the economic shock. Click  here  to read the article. 
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To handle the upcoming economic shocks from the pandemic, you will need to adopt an operating model that accommodates the extreme level of uncertainty facing your business. Here are two practical steps you can take to help stay ahead. 
Going Virtual
New Rules for Remote Work
Here are 10 ways that leaders can support employees who are working remotely during an unprecedented and uncertain time. 
Keep Your Zoom Meetings Private and Secure
Wired offers a few simple steps to keep your Zoom meetings private and secure. T here are plenty of settings you can tweak to make Zoom a safer place for you and everyone else on the line.
A Little Dose of Humor


Golden Seeds
www.goldenseeds.com
830 Third Avenue, 2nd Floor
New York, NY 10022


Matias Healy
matias@goldenseeds.com
646.650.5802