For over a decade, I’ve worked closely on a number of entrepreneurial initiatives with my friend Brad Bernthal, an Associate Professor at Colorado Law and the Silicon Flatirons Center.  The past few weeks unexpectedly resulted in a new project with Brad B. and CU’s entrepreneurial community.

On March 19, Bart Temme, and entrepreneur in Holland, reached out to me and Brad B. The next day we jumped on a call. Bart shared notes about how the startup community in his area of Holland mobilized in response to COVID-19. Bart provided grim notes about the reality of the contagion and the needs of their area. Yet Bart also spoke about the possibilities for entrepreneurial networks, accustomed to taking action and helping each other, to make an impact.

On that call, we hatched an idea to harness the power of university students. The vision: match an army of student age volunteers to COVID-19 response needs. Brad B. agreed to see if our university entrepreneurial network would build out this effort. 

In just two weeks, they created something powerful. I encourage you to read the update from Brad B. about HumanKind below and, if interested, get involved.

FROM BRAD BERNTHAL

I’ve been humbled to join a team that, over the past two weeks, built and launched HumanKind, a program to mobilize university students to help during the COVID-19 crisis. The platform bridges the gap between community needs and university-age volunteers.

To make this happen, volunteers jumped in from all corners of the campus – and beyond – over the past two weeks. A core team of about 20 volunteers – students, staff, and faculty –  divvied up roles, joined Zoom meetings, and even pulled me into the Slack universe (I think I was the last holdout).

HumanKind just went live last night. A two-minute explainer video (created by my 8th grade daughter, Quinn, who got involved in the effort) summarizes what we’re up to.

HumanKind is a matchmaking platform between (1) university students, and (2) individuals and organizations in the community who need help. Areas in which HumanKind hopes to drive volunteer efforts include (i) remote social interaction with isolated elderly populations, (ii) support to front line medical providers (potentially things like dog walking and remote tutoring for their kids), and (iii) connection to existing networks that would welcome university student help.

We intentionally created HumanKind to be inclusive. We welcome university-age students who go to school out of state, but are now back at home in Colorado during the crisis, to join the effort. We also welcome the use of HumanKind at other universities throughout Colorado. We’ve branded this in a way that, hopefully, feels like student and entrepreneurial leaders at other schools can make use of the platform.

We’d now love to have the startup community push to (1) inspire university-age students in Colorado to join the COVID-19 response, and (2) identify organizations and networks that need university-age volunteers. Here are actions that you can take:  

I’ve always wanted to build new things as part of a startup. I did not expect the chance to create something new to come under these circumstances. I have been inspired, and humbled, to see volunteers on our team use their entrepreneurial tools in the service of COVID-19 response impact. Across campus, we teach the value of entrepreneurial skills and mindsets. It is now amazing to put these skills to work at the most important of times. I am optimistic that this platform could make a real impact over the coming months.

Unsurprisingly, numerous SBA PPP Loan calculators have appeared on the web. Many of them are tied to a specific bank and have various complexity (or simplicity) in determining the amounts available. We’ve tried a few of them for comparison and found the calculations to be inconsistent.

So, we created our own and validated it with a number of accountants and lawyers. As the rules changed (and they continue to change), we updated it so we believe that it is current as of 4/8/20.

I’m going to refer to it as the Mostly Simple, Super Clear, SBA PPP Loan Estimator. It’s a Google Sheet, so if you want to use it, just click the link above, make a copy, and do whatever you want with it.

Please note the Disclaimer: this simplified model is meant to provide a quick, rough estimate the size of potential PPP loans and forgiveness amounts for planning purposes. Actual loan and forgiveness amounts will be determined by your bank based on federal law, regulations and bank implementation policies. Please consult your bank’s calculator and program paperwork to determine actual loan and forgiveness amounts.

My partner Seth Levine recently put up an extremely thoughtful post titled SBA PPP Loans Aren’t for Everyone. Go read it now – I’ll be here when you get back.

Seth references two other posts to read and consider. The first is by Albert Wenger at USV titled VC Backed Startups and PPP: Do You Really Need It? The other is an OpEd for CNBC written by Seth and Elizabeth Macbride titled Stampede for emergency loans is crushing lenders, putting millions of small businesses at risk. Here are steps to fix the system.

The complexity around both the PPP loans and the implementation of them is staggering. I can’t begin to estimate the number of hours spent collectivity just across our portfolio on trying to decode the rules, figure out how to comply, decide on a company by company basis if they should apply, and work through all the legal dynamics around them. On top of that, the mismatch between the expectations of dollars flowing quickly to the reality of the application process is dramatic.

We believe that many VC-backed companies will look at their businesses and determine that there is a clear and real need for the funds offered through PPP. But we’re encouraging all of the companies in our portfolio to pause and consider whether they truly qualify for the program and whether their participation in the program will save jobs and result in their business being less threatened by the crisis.

We understand that there will be many companies that fall into a grey area, have no way of predicting how serious the economic downturn will be, and how much it will impact their business. Hard calls will need to be made but we’re encouraging companies to make them with thought and compassion.

We sent the following email to all the CEOs in our portfolio last Friday. After discussing internally, we felt it was relevant to share publicly.

First of all, we can’t begin to tell you how impressed we’ve been with the leadership that you have all exhibited over these last several weeks. These are very challenging times both personally and professionally and these are the moments where true leadership is demonstrated. We sincerely thank you for the thoughtful and compassionate approach you have all taken during this crisis so far. 

We had over 70 participants on the CARES Act/SBA/PPP call last night and we’ve had countless one-on-one conversations on this topic with many of you over the last few days so we know there is a lot of anxiety around the application process at the moment. The high anxiety levels appear to come from a mix of excitement and uncertainty which is certainly understandable because both components are clearly at play here. Although we can’t immediately relieve the anxiety, we strongly encourage you to take a few deep breaths and step back for a moment of reflection.

As you reflect, we think it is important to start by asking yourself “Was this relief package created for my company?” We’ve heard many of you talk about how attractive the economics of the loan could be for your company. The term “free money” has been tossed around more than a few times. We’ve also heard plenty of excitement around how simple it could be to qualify in part because the qualification requirements are both broad and ambiguous. However, the reality is that receiving a loan for your business means it isn’t going to another business that might also deserve the money so receiving a SBA loan does come at a cost to the broader small business community. Given the already mentioned ambiguity, we can’t, unfortunately, rely purely on the letter of the law to make this qualification decision for us. We all have to apply our social conscience and good judgment to come to the right answer. From Foundry’s perspective, we believe PPP was designed to accomplish two things:

No doubt that all of our companies would benefit from more cash with attractive loan terms on the balance sheet so it isn’t surprising that the majority of you are considering applying for the loan. At the same time, we know that many of you have not eliminated jobs or have no immediate plans to eliminate jobs at the moment.  If you aren’t definitely planning to eliminate jobs, should you apply? Will your business likely fail without this loan?  

As the application process is currently written, you (and perhaps your affiliates) will have to certify “Current economic uncertainty makes this loan request necessary to support the ongoing operations of the applicant.” This statement is highly ambiguous and could be interpreted in numerous ways. We’re sure most of you could easily rationalize this statement to be true. At the same time, providing false information in this application is a federal crime that includes jail time. In addition to your social conscience, you should have real conviction and certainty that you qualify in your own hearts and minds. 

If you have a strong balance sheet, have recently raised money, or have some certainty around a near-term capital raise, we think you should reconsider applying.  Although things are chaotic at the moment and it might be possible to take advantage of a lack of controls in the system, that doesn’t mean we should necessarily do so.  Imagine for a moment that three years from now, the WSJ or FBI does a deep forensic analysis on the small businesses that received loans during the crisis. Would you feel good about the details of your situation being revealed in that process?

You are all proven leaders who have repeatedly demonstrated the ability to take a thoughtful and compassionate approach to decision making.  While we all sort through the details and logistics of the loan application process, we encourage you to take a step back and remember to consider the big picture.

Good morning! This is the tech news you need to know this Wednesday.

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At least two workers at an Amazon warehouse in Delaware have been infected by the novel coronavirus, Business Insider confirmed Tuesday, following a tip from an employee there.

Amazon informed workers at its facility in Middletown, Delaware, on April 6 that a person on-site March 22 was subsequently diagnosed with COVID-19. Another confirmed case of the disease was discovered on April 7.

"We are supporting the individuals, who are recovering," company spokesperson Timothy Carter told Business Insider. "We are following guidelines from health officials and medical experts, and are taking extreme measures to ensure the safety of employees at our site."

Dozens of Amazon facilities have now reported cases of COVID-19, but the online retailer has declined repeated requests to furnish a complete list of facilities where cases have been reported. The New York Times reported that at least 50 warehouses have seen cases. 

On Monday, the company confirmed cases at two separate facilities outside Cleveland, Ohio, after an employee reached out to Business Insider. 

Last week, Amazon confirmed another case at a warehouse in Indiana now under internal investigation, Amazon said, after Business Insider reported that some managers appeared to be failing to adhere to guidelines on social distancing.

The retailer also told Business Insider about an infected worker at a fulfillment center outside Washington, DC, following another tip from an employee who expressed concern for their safety.

Business Insider's Hayley Peterson previously reported that Amazon plans to hire 100,000 additional workers to meet delivery demand during the coronavirus pandemic. Many around the world and 97% of Americans are under stay-at-home orders, and The Times reported that "orders for Amazon groceries, for example, have been as much as 50 times higher than normal, according to a person with direct knowledge of the business." The company is hiring warehouse employees, delivery drivers, and shoppers.

Thousands of employees, who have been deemed essential and are continuing to work while many people stay home, are on the frontlines and working to organize for better pay and benefits, The Times reported.

Have a news tip? Email this reporter: This email address is being protected from spambots. You need JavaScript enabled to view it.

Tesla announced to employees on Tuesday morning that it will be temporarily reducing salaries and will furlough non-essential workers as the automaker curbs its production of new cars due to COVID-19.

In an email sent out to employees by the company's head of North American HR and in-house counsel Valerie Workman, that was published by CNBC, Tesla told employees that some jobs would be impacted as it continues to keep "only minimum critical operations running."

"While we are continuing to keep only minimum critical operations running, we expect to resume normal production at our US facilities on May 4, barring any significant changes," the email said. "Until that time, it is important we take action to ensure we remain on track to achieve our long-term plans." 

According to the email, the company will begin implementing certain cost-cutting measures starting on April 13. These measures include temporarily reducing pay for salaried employees, and placing employees who cannot work from home and have not been designated "critical work onsite" on furlough. 

"For US employees, these reductions are 30% for Vice Presidents and above, 20% for Directors and above, and 10% for everyone else," the email said regarding pay cuts, which are expected to remain in place until the end of Q2.

"For non-U.S. employees, there will also be comparable reductions, of which the specifics will be communicated by the local leadership team in accordance with local laws and works-councils," the email continued.

Employees placed on furlough will maintain their healthcare benefits and will be eligible for unemployment benefits through their state agencies.

The email added that during this period, salary and hourly rate adjustments, as well as equity grants, will be put on hold. Tesla offered employees the opportunity to take a voluntary leave of absence. 

"We continue to monitor the situation closely, and our top priority is to ensure the safety of our employees. As usual, for those who are onsite, if you are sick or are uncomfortable coming to work, please contact your manager and stay at home," the email added. 

Representatives for Tesla did not immediately respond for comment. 

Tesla temporarily closed its Fremont factory from March 23 following a shelter-in-place order put out in the San Francisco Bay Area to curb the coronavirus spread. Tesla also suspended most of its operations at its solar panel factory in Buffalo, New York.

A Tesla Gigafactory outside Reno, Nevada, remains open, despite the fact that a worker tested positive for COVID-19 in late March.

Airbnb has agreed to pay more than 10% in interest on the additional funding it recently raised and will offer its new investors warrants that value the company at $18 billion, The Wall Street Journal reported Tuesday.

Airbnb announced Monday that it had raised $1 billion in debt and equity from Silver Lake and Sixth Street Partners, but it did not disclose the terms of the deal.

The company is paying a steep 10% in interest plus a benchmark rate called the London Interbank Offered Rate (LIBOR), which will amount to more than $100 million per year, The Wall Street Journal reported. By comparison, so-called junk bonds are yielding roughly 10% as investors dump riskier assets.

The investors were also offered warrants that can convert into shares of Airbnb based on a valuation of $18 billion, according to the The Wall Street Journal. That's a drop of nearly 50% since Airbnb's last private valuation of $31 billion in 2017, according to PitchBook, and less than the $26 billion internal valuation the company reportedly reached last week.

Airbnb has been hit hard by the coronavirus pandemic, which has all but halted travel globally, and was reportedly losing money even before the pandemic — which could delay the company's plans to go public this year.

Reuters reported Tuesday that the deal will raise Airbnb's cash reserves to $4 billion and that the company is exploring a potential new line of credit worth up to $1 billion.

Silver Lake is aiming for a valuation of $40 billion to $50 billion for Airbnb in order to meet its return target, according to Reuters.

"We made this investment because we believe in Airbnb's leadership, beginning with Brian, and look forward to partnering with them in our role as a strategic investor," a Silver Lake spokesperson told The Wall Street Journal.

Airbnb and Sixth Street Partners declined to comment on the The Wall Street Journal's reporting or any terms of the deal.

Neat is a challenger bank for early-stage startups and SMEs

The Volkswagen Atlas filled a big, big hole in the German automaker's lineup when it debuted for the 2018 model year. Finally, VW had a large SUV that could haul seven people.

Consumers in the US rewarded the company by purchasing over 81,500 of the vehicle last year.

We were quite impressed with the Atlas when it first went on sale, naming it a Business Insider Car of the Year runner-up form 2017. In our review, we wrote that "embracing Americana is the smartest thing Volkswagen has done in a long time," adding that "[w]hile it hasn't completely shed its German heritage, the company finally delivered an off-roader with the power, space, and practicality which caters specifically to the largest and most lucrative SUV market in the world."

On Tuesday, VW announced the refreshed Atlas. The base price hasn't changed — $31,545. But in a statement, VW touted a "bolder design as well as interior upgrades, advanced connectivity, new available driver-assistance features, and broadened powertrain availability."

Toast, a $5 billion Boston-based startup that makes software for restaurants, just cut nearly 1,000 employees from its work force through a combination of layoffs and furloughs on Tuesday. 

"This morning at Toast we shared the agonizing decision to reduce the size of our company by roughly 50 percent through layoffs and furloughs as a result of the COVID-19 health crisis," a blog post from CEO Chris Comparato announced. The company had well over 2,000 employees earlier, per Pitchbook. 

Although Toast's main source of customers was a restaurant industry hit hard by the coronavirus outbreak, the news still caught some investors off guard. Toast had just raised $400 million in a Series F funding round in February from a series of investors including Bessemer Venture Partners and TPG, so investors assumed its balance sheets were padded enough. 

Investors like Mitchell Green of Lead Edge Capital had even cited Toast's February funding round as a stroke of luck for the company. "Nobody knows how deep this will be, nobody knows how long this will be...If Toast had not raised that round in February, it'd be in big trouble," Green told Business Insider last week. 

(An email from Green to Business Insider on Tuesday said that the outbreak had gotten to the point that most companies would soon be forced to lay off workers). 

Some employees laid off from the company on Tuesday had only been there for a matter of months, according to their posts on LinkedIn — the unfortunate result of a hiring spree taken after Toast grew revenue by 109% in 2019, in anticipation of even more growth in 2020.

But as the coronavirus outbreak hit the country and caused restaurant sales to plunge by over 70% in most cities last month, it forced the restaurant software startup to scramble. 

Over the past month, Toast began by rolling out a series of measures to help support its target customers hit by the coronavirus outbreak — blog posts with financial advice and resources for affected restaurant workers, a month's credit of software fees for Toast customers and an initiative to support all local restaurants by ordering takeout or buying gift cards.  

Toast also begun pulling back on its own costs, by freezing hiring, pulling back on new offers, and halting merit-based raises, Comparato's blog post said. 

But ultimately, continued uncertainty over how long the coronavirus outbreak would last and how long restaurants would be shut, forced it to cut jobs. 

"But with limited visibility into how quickly the industry may recover, and facing slower than anticipated growth, we now find ourselves in the unenviable position of reducing our headcount," Comparato said. 

The company said it was offering a severance package, benefits coverage and mental health support, and an extended window for employees to buy vested stock options. It also said it was developing programs to help laid-off employees search for new roles, but did not share further details on what that would look like. 

Cutting-edge websites will sometimes require an up-to-date version of Firefox to function at their best — or even at all. 

Other times, you may have a slower computer that demands an older version of Firefox in order to perform optimally.

Whatever the reason, and whatever Firefox version, here's how to check which version of the Mozilla web browser you're using. 

Check out the products mentioned in this article:

Apple Macbook Pro (From $1299.00 at Apple)

Lenovo IdeaPad 130 (From $469.99 at Walmart)

How to check which version of Firefox you have

1. Open Firefox on your Mac or PC.

2. With Firefox open, click the top dropdown menu and select "Firefox," located to the right of "File." 

Keeping the apps on your iPhone up to date is important not only for security reasons, but to ensure you have all the latest features. 

While you can always set your apps to update automatically so you don't have to keep an eye on them, if you prefer to install updates manually, doing so is pretty straightforward. 

However, the way you manually update apps differs slightly in iOS 13 compared to previous versions. In iOS 13, you'll need to go through a few extra steps to find the update page. 

But once you know where to look, a few taps will make sure you're on track with the latest release available. 

Here's how to update your apps manually on an iPhone running iOS 13.

Check out the products mentioned in this article:

iPhone 11 (From $699.99 at Apple)

How to update apps on iOS 13 manually

1. From your iPhone's home screen, tap the App Store icon to open it. In the top-right corner of the screen, tap your profile icon.

2. Scroll down until you see a list of apps. The ones that say "Update" next to them can be updated, while the ones that say "Open" have already been updated. 

3. Tap the "Update" icon next to each app you wish to update, and the download/installation process will begin.

How to update apps on iOS 13 automatically

If you want to turn automatic updates on your iOS 13 device on or off, you can do so via the Settings app.

1. Open the Settings app on your device and tap the banner with your name and profile picture at the top.

2. Select the "iTunes & App Store" option.

3. Under "Automatic Downloads," toggle the "App Updates" option on or off according to your preference.