Coronavirus Updates: Headspace Makes App Free to Unemployed; Cali's Economic Fallout Eclipses Great Recession

Coronavirus Updates: Headspace Makes App Free to Unemployed; Cali's Economic Fallout Eclipses Great Recession

Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.

  • Newsom: Employment fallout from the coronavirus pandemic has exceeded the Great Recession
  • Headspace makes meditation app free for the nation's 23 million unemployed


    Newsom: Employment fallout from the coronavirus pandemic has exceeded the Great Recession

    live.staticflickr.com

    Gov. Gavin Newsom said Thursday that the employment fallout from the coronavirus pandemic has exceeded the economic crisis that brought on the Great Recession. Some 4.6 million Californians have filed jobless claims, and has forced the stater to borrow billions of dollars from the federal government to cover claims. "These unemployment numbers are jaw dropping," Newsom said at a press conference. "We are at a time that is simply unprecedented."

    Newsom said the state will need $43.8 billion to cover unemployment claims in the new year, a 650% increase over what was originally predicted. The federal government controls a trust that helps states cover jobless benefits during a recession. The governor said the state's unemployment rate is expected to peak at more than 24.5% this year. But, the rate for the whole year will hover at about 18% -- still significantly higher than the 12.3% peak during the height of the economic crisis.

    Headspace makes meditation app free for the nation's 23 million unemployed

    Shutterstock

    Headspace, the Santa Monica-based meditation and wellness app, is giving the nation's unemployed workers a free year to help them during the COVID-19 pandemic. The Labor Department reported that jobless claims were up by another 2.98 million last week, bringing the total unemployment claims number to a massive 22.83 million people.

    "The current state of unemployment in America has become an alarming crisis," the company said in its pitch to get people to sign up. "To help those affected, we're offering a full year of Headspace Plus for free. Discover meditation and mindfulness tools to help you feel less stressed, more resilient, and kinder to yourself." The company was previously working with the City of Los Angeles in offering residents a free trial. Headspace requires that people list their last employer and date of separation, but it was not known how the company would verify that information. There are more than 1,200 hours of meditation content on the app.

    LA Startups Supercharging Cars and Dating 🚗⚡💑

    🔦 Spotlight

    Happy Friday Los Angeles!

    EVgo Inc., a leading Electric Vehicle (EV) charging company based in West Los Angeles, has seen substantial growth under CEO Badar Khan. The company now operates over 3,400 fast chargers across 1,000 sites nationwide, strategically placed in high-traffic urban and suburban areas to enhance convenience for EV users. EVgo’s model focuses on owning and managing its charging stations to ensure a seamless experience, reflecting its commitment to supporting the mass adoption of electric vehicles and facilitating the transition to cleaner transportation.

    In a different electrifying market, Joe Feminella, inspired by his own successful dating journey, launched the dating app, First Round’s On Me in El Segundo with $5 million in funding. This app differentiates itself by requiring users to schedule a date within 24 hours of matching, and after a soft launch in select markets, it expanded nationwide in 2024. As the dating app market faces criticism over algorithmic practices and premium features, First Round’s On Me aims to offer a more genuine and immediate dating experience. Both EVgo and First Round’s On Me exemplify how companies in different industries are addressing their respective market challenges with innovative approaches to improve user experience and engagement.


    🤝 Venture Deals

    LA Companies

    • 3DEO, a startup that specializes in 3D printing small, high-volume metal parts, raised a $3.5M Strategic Investment Round from Mizuhio Bank. - learn more
    • Spotter, a startup that underwrites creators and offers AI tools, raised a $7.4M Funding Round. - learn more
    • Cashmere, a lead generation startup for wealth managers, raised a $3.6M Seed Round. Canapi Ventures led, and was joined by Benchstrength, Plug and Play, The House Fund, and Courtyard Ventures. - learn more

    LA Venture Funds

    • Crosscut Ventures participated in an $8.9M Series A Extension for Nostra AI, a startup that helps e-commerce businesses improve their website performance by speeding up load times. - learn more
    • Fika Ventures, an eight-year-old Los Angeles venture capital firm, has raised a fourth fund in the amount of $160 million to invest in early-stage B2B startups. - learn more

        ✨ Featured Event ✨

        LA TECH CEO SUMMIT

        LA’s tech leadership is set to reunite after a long break! This two day summit will focus on building strong connections, sharing insights, and fortifying the local tech community.

        Learn More Here

        Register Here


        Download the dot.LA App

        🍵☕️Top 6 Coffee Alternatives for Enhanced Productivity

        In the fast-paced world of startups and venture capital in Los Angeles, maintaining peak productivity is essential for founders and investors alike. As the hustle intensifies, many are seeking alternatives to traditional coffee that not only provide a sustained energy boost but also support overall health and well-being. The following list highlights some of the top-rated coffee alternatives that can enhance focus and productivity while minimizing the adverse effects of caffeine. These options incorporate adaptogens, superfoods, and gut-friendly ingredients, making them ideal choices for those looking to optimize their performance without the afternoon crash.


        Matcha

        Image Source: Jade Leaf Matcha

        Matcha is a finely ground green tea that offers a moderate amount of caffeine, along with L-theanine, which promotes relaxation without drowsiness. This combination can enhance focus and concentration, making matcha a suitable alternative for those looking to boost productivity without the jitters of coffee.

        Popular Brands: ReNude Chaga Matcha (60 mg caffeine), Golde Pure Matcha (60 mg caffeine), Organic Ceremonial Matcha - Teahouse Edition (30 mg caffeine)


        Dandelion Root Coffee

        Image Source: Amazon

        Dandelion root coffee is a caffeine-free alternative that mimics the taste of coffee. It is known for its potential to support liver health and digestion, which can contribute to overall well-being and productivity. The drink can help avoid the acidity and jitters that often accompany regular coffee, making it a gentler option for those sensitive to caffeine.

        Popular Brands: Dandy Blend (0 mg caffeine), Teeccino Dandelion Dark Roast (0 mg caffeine)


        Adaptogenic Drinks

        Image Source: MUD\WTR Masala Chai

        Adaptogenic beverages, which include ingredients like ashwagandha, reishi, and maca, are designed to help the body adapt to stress and promote mental clarity. These drinks can provide a sustained energy boost without the crash, supporting productivity throughout the day. They are often made with superfoods and spices that enhance both physical and mental performance.

        Popular Brands: MUD\WTR Masala Chai (35 mg caffeine), Four Sigmatic Think Coffee (150 mg caffeine), ReNude Chagaccino (0 mg caffeine)


        Golden Milk (Turmeric Latte)

        Image Source: Golde

        Golden milk, made from turmeric, ginger, and milk (or a milk alternative), is a caffeine-free option that can improve mood and reduce inflammation. The calming properties of this drink can help maintain focus and clarity, making it a great addition to a productive morning routine.

        Popular Brands: Golde Turmeric Latte Blend (0 mg caffeine), Blume Turmeric Blend (0 mg caffeine), Four Sigmatic Golden Latte Mix (0 mg caffeine)



        Chicory Root Coffee

        Image Source: Teeccino

        Chicory root coffee is an excellent alternative that satisfies the desire for a warm beverage without caffeine. It is rich in inulin, a prebiotic fiber that aids in digestion and promotes gut health by supporting beneficial bacteria. Chicory coffee has a nutty, earthy flavor and can help control blood sugar levels, contributing to overall energy and productivity throughout the day.

        Popular Brands: Anthony’s Instant Chicory Root (0 mg caffeine), Teeccino Chicory Coffee Alternative (0 mg caffeine)


        Yerba Mate

        Image Source: Guayaki Yerba Mate

        Yerba mate is a traditional South American herbal tea made from the leaves of the Ilex paraguariensis plant. It contains about 40-80 mg of caffeine per serving, which is less than a standard cup of coffee but enough to provide a gentle energy boost. Yerba mate is rich in antioxidants, vitamins, and minerals, and users often report feeling energized without the jitters or crashes associated with coffee. It has a unique, slightly bitter flavor and can be enjoyed in various forms, including loose-leaf tea and pre-brewed options.

        Popular Brands: Guayaki Yerba Mate (40-150 mg caffeine)


        Download the dot.LA App

        LA’s Data Center Supply Crunch

        🔦 Spotlight

        Happy Friday Los Angeles!

        The Los Angeles data center market is experiencing a significant supply crunch, ranking 12th in growth among top markets since 2020 with only 265 megawatts of colocation inventory (data centers where businesses rent space to store their computing hardware and servers). Despite this, demand is surging, driven by AI, cloud, and hyperscaler needs, with AI accounting for 20% of new data center demand nationally. This scarcity is creating a highly competitive environment, with vacancy rates at a record low 3% and asking rents rising 13-37% year-over-year. For Los Angeles, this presents both challenges and opportunities in the big picture. The city's strategic position as a global entertainment hub and its connectivity to international markets through subsea cables make it an attractive location for data centers. However, the limited inventory and rising costs could potentially hinder growth and innovation in the tech sector. To maintain its competitive edge, Los Angeles will need to address these constraints through new developments, such as GI Partners' 16 MW addition at One Wilshire, and by focusing on high-connectivity, high-power capacity submarkets. The city's tech community should prepare for a landscape of increased competition for quality data center space, higher costs, and the need for innovative solutions to meet growing demand, particularly in AI and cloud services. While Los Angeles faces a challenging data center supply crunch, its strategic advantages and ongoing developments offer a promising path forward.


        🤝 Venture Deals

        LA Companies

        • Daisy, a one-year-old startup that designs and installs smart home and office technology systems, raised a $7M Series B co-led by Goldcrest and Bungalow, with previous investors Bullish and Burst Capital also stepping up. The company has raised a total of $13.3 million. - learn more

        LA Venture Funds


          ✨ Featured Event ✨

          LA TECH CEO SUMMIT

          LA’s tech leadership is set to reunite after a long break! This two day summit will focus on building strong connections, sharing insights, and fortifying the local tech community.

          Learn More Here

          Register Here


          Download the dot.LA App

          RELATEDEDITOR'S PICKS
          Trending