Just two years after launching its 10k by 2020 initiative to hire 10,000 employees by 2020, the COVID-19 pandemic forced Chief Executive Officer Mark Wilson to send nearly all of his staff at Chime Solutions (Chime) to work from home. Chime was a customer contact firm that offered call center services to corporate clients. Chime had an employee-focused model where it hired call center agents from underserved communities. It then offered skill building and life services to these agents, which led to industry-leading employee retention rates and an overall more committed and expert staff. After agents were deployed to work from home, however, it struggled to maintain its current operating model, causing increased attrition rates. It also had amassed a large amount of debt from maintaining its facilities in Morrow, Georgia; Dallas, Texas; and Charlotte, North Carolina. At the same time, the company was growing at a record pace, but needed to address its talent and debt challenges before realizing its dream of uncovering hidden talent in underserved communities.
In February 2023, Emtech's founder Carmelle Cadet is facing a dilemma. Rapidly running out of cash, Cadet has a term sheet from a leading VC but has a choice of how to structure the investment. The decision will have significant implications for Cadet's own stake, as well as her ability to attract top talent. One factor influencing Cadet's decision is her vision of creating a digital currency platform that will facilitate financial inclusion and other values throughout the world. Founded in 2018, Emtech first offered central bank digital currencies to world governments, digital fiat currencies that could be a tool for emerging economies to offer benefits and administer social programs more efficiently. The company later began developing regulatory sandboxes, which allow governments and fintechs to experiment to optimize regulatory environments, while working with financial service providers on innovation and regulation of new products.
Julie Owono is a member of the Oversight Board, an outside entity with the authority to make binding decisions on tricky moderation questions for Meta's companies. She considers the Board's impact, and its future.
On December 12, 2020, SolarWinds learned that malware had been inserted in its software, potentially granting hackers access to thousands and thousands of its 300,000 customers. General Counsel Jason Bliss needed to orchestrate the company response without knowing how many of its customers had been affected, or how severely. The SolarWinds CEO was already scheduled to step down within three weeks, and the incoming CEO was as yet unaware of the incident. Bliss needed to address three immediate issues. First, did the incident qualify as a material event, and if so, what information did SolarWinds need to report to whom, and when? Second, what posture should SolarWinds take with respect to its customers and to the media, where the news was expected to break within a day? Third, how should SolarWinds balance helping its customers understand and recover from the breach with protecting itself from a negative stock price impact and potential legal implications?
Supplements the (A) case, describing actions taken by SolarWinds as well as by regulatory agencies in the aftermath of the immediate crisis. The case also includes reflections by SolarWinds managers on the choices they made with respect to disclosure, media relations, cybersecurity preparedness, and the sometimes-contending agendas of companies and government agencies SolarWinds interacted with.
Supplements "SolarWinds Confronts Sunburst" (723-357, -368) to provide context on types of cyberattacks and their costs, as well as-at the time of the Sunburst cyberattack in December 2020-the fragmentary regulatory regimes through which U.S. states and regulatory agencies attempted to encourage disclosure of cyberattacks and pursue enforcement action against negligence in failing to adequately safeguard personally identifiable information (PII), payment card information (PCI), and protected health information (PHI).
Increasing digitalization of grocery retail and quick commerce reveals insights about managing complex supply chains at scale and shifting revenue streams from product sales to data monetization. How are the roles of retailers changing? What happens if marginal cost goes to zero? How might new models change the grocery value chain? Building on earlier future of commerce themes, this note illustrates the challenges and opportunities of next generation retail trends in the grocery sector, including automated order management, logistics optimization, automated fulfillment centers, and the outlook for the future.
Jasmine Crowe founded Goodr to redirect food waste to people in need. Now a profitable enterprise, she's searching for Series A funding and encountering pushback. Scaling and contract concerns are also at the forefront of her mind, but so are her values. Feeding hungry people is at the core of her mission, but potential backers tell her the company is better off without doing so. She thinks, too, about how her race may be holding her back from funding opportunities.
Mary Gadams, founder and CEO of RacingThePlanet, has managed to stage sporting events in some of the world's most inhospitable locations for the last 20 years. New challenges, including the COVID-19 pandemic, have arisen. How can this small company navigate the global racing market, international regulations, COVID responses, and more?
In 2021, AppHarvest completed construction of a 60-acre indoor farming facility, one of the world's largest, recorded its first sales, and went public in a multi-billion dollar IPO. Described as "a force of nature," Jonathan Webb founded the company to bring jobs back to Appalachia. Now, as he plans for more indoor farms, he has to face the challenges of growing a company quickly.
In May 2018, celebrated journalist Katie Couric and her husband, John Molner, had recently launched a full-service media firm called Katie Couric Media (KCM). Couric treasured the opportunity to address important social issues like gender equality, environmental sustainability, and mental health. The couple had raised enough funding to launch the venture. Now, they needed to land a first client to underwrite production costs, sign a partner to promote and distribute the content, and identify a story Couric wanted to tell. The first customer would be crucial in establishing a strong foundation for future work. They wanted to partner with a brand interested in the purpose-driven content about which they were passionate, but they did not want to sell a one-time consulting engagement. Rather, they were interested in customers to sign on for a recurring, subscription-based contract.
In 2020, just after closing a $34 million Series B financing round, Dave Salvant and Songe LaRon consider how to adjust their business, Squire Technologies, to the new realities posed by the COVID-19 pandemic. Their barbershop technology, including tools to run a shop and a mobile app for customers was growing swiftly, but with nearly all barbershops shut down to prevent the spread of the disease and no revenue coming in, should they cut back, or take the opportunity to build up?
Irfhan Rawji (MBA 2004) launched MobSquad in October 2018 to help American tech start-ups retain hard-to-find talent, many of whom struggled with U.S. work visa issues, such as software engineers with experience in artificial intelligence, machine learning, or data science. MobSquad also helped companies fill open roles by tapping into its database of pre-vetted foreign tech workers. While there was growing demand for these specialists, the talent supply in the U.S. was relatively constrained and American companies often filled positions with foreign-born workers using a temporary visa called the H-1B. However, U.S. President Donald Trump temporarily suspended immigration in June 2020, including foreign workers on an H-1B visa during the COVID-19 pandemic. Rawji contemplated what kind of impact this would have on MobSquad and the tech industry in Canada. There was already evidence that a growing number of foreign tech workers were choosing Canada over the U.S. due to Trump's immigration policies. Now Rawji suspected that Trump's latest move would further accelerate this trend, and he wanted MobSquad to be ready to help companies and workers who had been counting on the H-1B.