Highlights of the Week (September 17, 2021)

A story that caught my eye this week covered the $40BN valuation of Canva, the drag & drop design application making design more accessible to the mainstream. It wasn’t the monumental valuation (although it’s second only to Stripe in private cloud companies), or the staggering 180K eager applicants applying for a job in the last 12 months; it was the cofounders’ plans to donate 30% of the company (most of their stake) to charity. As stated by co-founder Melanie Perkins, “If the whole thing was about building wealth, that would be the most uninspiring thing I could possibly imagine.” 

While it has become commonplace for billionaires to create their own foundations or charities, the amount contributed often amounts to little more than a few days of their income. This approach by the millennial co-founders from Australia, of denying themselves billionaire status, is a refreshing one.

Here’s a look back on the topics from this week’s Daily Stack:

• We looked at how D2C brands of the 2010s are maturing and, much like the ending of any idealistic youth, are turning to tactics employed by their more traditional predecessors. But they have left their mark on retail and helped guide some surviving dinosaur brands into a new era. Find out more here.

• After fundraising comes the even harder part: hiring. Cofounders struggling with small or in-demand networks will have a hard time making the all-important early hires. VCs are helping with intros & emails but also offering unique job boards for their portfolio companies. Learn what startups are doing with their last round of funding here.

• Live sports took a hit in 2020, but the valuations of the world’s top sports teams continue to climb higher. We ranked global sports teams by valuation in Wednesday’s report. Check it out here.

• Turns out, the UX design feature of having a mini-reflection of ourselves -- on Zoom, Hangouts, and FaceTime -- has had an impact on cosmetic procedures. Check out the Zoom effect on beauty here.