Entrepreneurs rake in cash from “business showers”

Plus, a ruling may derail the gig economy, and hackers come for crypto

Aug 25, 2021 | Current events | Business
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It’s a business!

Baby showers are great. But more and more, entrepreneurs are throwing “business showers” to celebrate a different milestone: starting a company. Some are receiving thousands of dollars worth of gifts — and cash — to jumpstart their startups. Early investors, potential clients, and employees are making the guest lists, as innovative tools crop up to assist. Makelane, an online school for female founders, now offers a free virtual planning kit called Startup Stork. So far this year, over 1,300 kits have been downloaded. Business Gift Registry, launched in 2019, gives founders a place to register and shower attendees a place to shop. Staples gift cards, conference registration fees, plane tickets, and software subscriptions are some of the items showing up on wish lists. As for Business Gift Registry itself, business is booming. The company saw 25% growth in Q2 2021.

Business showers aren’t likely to totally replace baby showers (at least not anytime soon). But they could increase in popularity as more millennials choose to live child-free. The US birth rate has fallen steadily in recent years, hitting a 40-year low in 2020. Meanwhile, the number of new startups has exploded. New business applications from founders who are likely to employ others reached a 13-year high last September. Fingers crossed the requisite “industry reveals” are planet-friendly.

ICYMI

  • Hacked: Coinbase customers are seeing thousands of dollars worth of crypto drained from their accounts in seconds.
  • Blocked: A judge ruled Prop 22 (the CA ballot measure that classified some gig workers as independent contractors) is unconstitutional.
  • FastPast: Disney is nixing its free FastPass reservation system for one that charges park-goers extra to skip the lines.
  • Spooky: An early drop of Home Depot Halloween decor sold out almost immediately.
  • Broke Bobby: TikToker @tcruznc made a video about the spreadsheet he uses to rank his rich friends by income, and the internet went wild.

Albert

Albert

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