Hello! Here’s what’s happening:
1. These are the best and worst-performing public tech companies. The tech firms that have had the highest share price rise on the ASX and NZX in the past six months have been revealed in a chart, with logistics software startup GetSwift coming out on top with more than 200% growth. There’s also a similar chart for the biggest stock price crashes as well, right here.
2. Despite the serious risk of identity theft, the government insists the Medicare data breach is nothing to worry about. In fact, the human services minister said the cause isn’t even a cyberattack but “traditional criminal activity”, without elaborating on what that might mean. Meanwhile the Australian Federal Police are trying to track down the culprits that have been selling Australians’ private data on the dark web for $30 per person.
3. VC vultures? This is the advice from Sydney entrepreneur Jack Goodman, who says not every startup can be a unicorn and founders must come to terms with that. Check out the reasons he gives for delaying VC funding for as long as possible.
4. Australia is slipping on yet another global ranking for digital. EY’s State of the Nation report was released today, and it shows Australia has slid down two places to be 18th in World Economic Forum’s Networked Readiness Index, mainly due to “cost of fixed broadband and a low score for business adoption of information and communications technology”. Read more here.
5. The Victorian government is under pressure to withdraw its funding for 500 Startups. The US accelerator, which has this week been rocked by a sexism scandal involving co-founder Dave McClure, opened a Melbourne arm after a financial inducement reportedly worth more than $2 million. Now the AFR reports local entrepreneurs, including Schedugram founder Hugh Stephens, calling for an end to that relationship – and instead redirect the funds to local ventures.