The Third Degree
Yesterday a new $10 million early stage seed investment fund called Gen Y Capital Partners launched out of its home base in New York City.
Its no coincidence that the White House’s announcement about easing student loan burdens for entrepreneurs came on the same day. After all part of Gen Y Capital’s business plan, which gets name-checked in the White House release, leverages the recently-reformed Income-Based Repayment plan to help startup founders pay off their student loans. Yup, you read that right. Pay off, not defer.
Betabeat talked to Gen Y founder Scott Gerber, author of Never Get a “Real” Job and founder of the non-profit Young Entrepreneur Council, about how student loans play into entrepreneurship and why Gen Y can help the 99 percent.
Occupy Wall Street
A number of New York state lawmakers received a disturbing email with the subject line “time to kill the wealthy” that threatened employees of tech companies if the state does not renew its tax surcharge on millionaires. According to Politico, the email used terminology from Occupy Wall Street movement, though there has been no connection made with what’s actually happening in Zuccotti Park:
“The angry message demanded that Albany politicians ‘stop shoveling wealth from the lower 99 percent into the top 1 percent’ and “set aside your ‘no new taxes on anybody’ pledge.’”
The email was reportedly sent to State Assembly Speaker Sheldon Silver, State Senate Majority Leader Dean Skelos, and State Assembly Majority Leader Ron Canestrari. It’s still unclear whether Governor Cuomo received the email as well.