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TechCrunch+ Roundup: SAFE founder survey, replacing a CEO, how cyber insurance works on July 28, 2023 at 5:21 pm

A friend recently spent months getting into shape for a physical so he could obtain a lower insurance rate. He got the policy and plans to continue working out because he feels so much healthier.
Tech companies that plan to buy cyber insurance are in a similar boat: IT managers must conduct risk assessments and usually add new security measures to qualify, but doing the work can be its own reward.
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“In the end, the benefits from working through the process of achieving eligibility for cyber insurance can go far beyond the issuance of a policy,” says security strategist Ilia Sotnikov.
In this article, he explains “what cyber insurance actually covers,” identifies the critical measures most insurers require and explains why implementing multifactor authentication may not cure every problem.
Thanks for reading, and have a great weekend.
Walter Thompson
Editorial Manager, TechCrunch+
@yourprotagonist
Pitch Deck Teardown: Unito’s $20M Series B deck
Pitch Deck Teardown Image Credits: Unito
Unito, a platform that lets customers manage multiple SaaS apps in one place, announced a $20 million Series B round in October 2022.
“Strategically, the path Unito built makes a lot of sense, and I’m not surprised that this narrative resonated with investors,” writes Haje Jan Kamps, who unpacked the lightly-redacted deck:
Cover slide
Highlights/summary slide
Market context slide
Problem slide
Solution slide
Product slide
How it works slide
Product evolution slide
Growth/traction slide
Competition/positioning slide
Team slide
Summary slide
5 founders discuss why SAFEs are better for early-stage and bridge rounds
While SAFE rounds are considered founder friendly, most founders only think they are a good idea for certain rounds. Image Credits: Bryce Durbin
Rebecca Szkutak interviewed five founders who raised money via simple agreement for future equity (SAFE) rounds, instead of going the traditional seed/Series A route.
“By the time a startup reaches the Series A stage, this mechanism is less attractive for a variety of reasons,” she writes.
Here’s who she surveyed:
Zach Blank, founder, Hurry
Amy Divaraniya, founder and CEO, Oova
Tory Reiss, CEO and co-founder, Equi
Arman Hezarkhani, founder and CEO, Parthean
Vishwas Prabhakara, founder and CEO, Honey Homes
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Ask Sophie: Which US visas are best for international founders?
Image Credits: Bryce Durbin/TechCrunch
Dear Sophie,
I am from Georgia but I live in Poland. I created my startup in Delaware a few years ago. To realize it and grow it, I need to move to the U.S.
I have a business plan and a market plan, but no immigration plan. What’s your advice? Which visa should I apply for?
— Global Georgian
Finding CEO: It’s the new ‘Finding Nemo’
Image Credits: Getty Images / Sakchai Vongsasiripat
It’s rare for a founding CEO to take their company public: As of 2015, “only one-third of startups that reached IPO had their founders as CEOs,” writes Haje Jan Kamps.
Replacing a CEO is a complicated process — senior executives and board members should be aligned, founders must be ready to let go, and the winning candidate needs to get started as quickly as possible.
“In the majority of cases, there comes a time that you need to have a professionally credentialed CEO to take the company to the next level,” said DeeDee DeMan, founder and CEO of executive search firm Bench International.
“And that’s completely dependent upon the acceptance and the mentality of the founding CEO.”
How to prevent an ‘operational catastrophe’
Image Credits: MirageC(opens in a new window) /Getty Images
Julia Ivzhenko, head of operations at Futurra, launched a new edtech app with a 20-person team that answered students’ questions in real time.
Network effects drew in a growing stream of new users, but “we concentrated on scaling and didn’t have time to think if the resources of our team were enough to keep going with such speed,” she writes in TC+.
“To prevent the approaching catastrophe,” she developed a five-step plan that analyzed key processes and highlighted bottlenecks that ultimately generated “a timeline for optimization.”
Replacing a CEO is a complicated process: senior executives and board members should be in alignment, and founders must be ready to let go.
Business
GLOBAL SUSTAINABILITY SUMMIT RETURNS FOR ITS 5TH EDITION AT THE BRITISH PARLIAMENT – HOUSE OF LORDS, PALACE OF WESTMINSTER

FOR IMMEDIATE RELEASE
Theme: “People, Planet, and Profit in the Age of AI and Innovation”
London, United Kingdom — The Global Sustainability Summit (GSS) is officially back for its landmark 5th Edition, continuing its legacy as one of the leading international platforms driving sustainable development, climate action, ethical investment, innovation, and global collaboration.

Convened annually at the prestigious British Parliament, House of Lords, Palace of Westminster, by Ambassador Canon Chinenem Otto, the Summit has, over the last four years, successfully fostered international dialogue and partnerships that have contributed to the advancement of global sustainability goals, the establishment of sustainability-focused ministries, departments and policy structures across national and subnational governments, and the attraction of major investors into sustainable development projects, corporations and emerging economies.
This year’s summit, themed “People, Planet, and Profit in the Age of AI and Innovation,” will explore how emerging technologies, responsible leadership, sustainable finance, innovation, and global partnerships can shape a more inclusive, resilient and environmentally conscious future.

The 5th Edition promises to be the most impactful yet, bringing together world leaders, policymakers, diplomats, investors, academics, innovators, climate experts and youth leaders from across the globe to discuss actionable solutions toward achieving a sustainable and equitable future.
Among the distinguished speakers, delegates and honorees already lined up for the Summit are:
• His Excellency Mallam AbdulRahman AbdulRazaq — Executive Governor of Kwara State, Nigeria and Chairman of the Nigeria Governors’ Forum
• His Excellency Senator Prince Bassey Otu — Executive Governor of Cross River State, Nigeria
• Ambassador Patricia Espinosa Cantellano — Former Executive Secretary of UN Climate Change (UNFCCC) and Former Foreign Minister of Mexico

• Lord Marvin Rees, Baron Rees of Easton OBE — Member of the House of Lords, United Kingdom
• Hon. Neema K. Lugangira — Secretary-General of Women Political Leaders (WPL), Brussels and Former Member of Parliament
• Her Excellency Dr. Netumbo Nandi-Ndaitwah — President of the Republic of Namibia
• His Excellency Nangolo Mbumba — Former President of Namibia
• Former President of Tanzania
• Her Excellency Ambassador Professor Olufolake AbdulRazaq — First Lady of Kwara State, Nigeria and Chairperson of Nigeria Governors’ Spouses Forum
• Your Excellency Dr. Dikko Umar Radda, PhD, CON — Executive Governor of Katsina State and Chairman of the Northwest Governors Forum, Nigeria
• Hon. Sam Shafiishuna Nujoma — Governor of Khomas Region, Namibia

• H.E. Mr. Veiccoh Nghiwete — High Commissioner of the Republic of Namibia to the United Kingdom
• Her Excellency Ms. Macenje “Che Che” Mazoka — High Commissioner of Zambia to the United Kingdom
• Ms. Danielle Newman — Partner Lead, ICT, World Economic Forum
• Leanne Elliott Young — Co-founder, Institute of Digital Fashion & CommuneEast
• Ms. Chloe Russell — Producer & Presenter, Art, Science and Nature
• Professor Marie-Claire Cordonier Segger — University of Cambridge & University of Waterloo
• Dr. Alexandra R. Harrington — IUCN World Commission on Environmental Law (WCEL)
• Professor Payam Akhavan — Massey College, University of Toronto
• Mr. Mallai C. E. Sathya — President, Dravida Vetri Kazhagam and International Movement for Tamil Culture Asia

The Summit will feature high-level panel discussions, strategic investment conversations, sustainability awards, policy dialogues, innovation showcases, youth engagement sessions and international networking opportunities focused on climate resilience, ethical financing, food-water-energy sustainability, circular economy, artificial intelligence, diplomacy and sustainable development.
Speaking ahead of the Summit, Convener Ambassador Canon Chinenem Otto noted:
“As the world rapidly evolves through artificial intelligence and technological innovation, we must ensure that sustainability remains people-centered, environmentally responsible and economically inclusive. The Global Sustainability Summit continues to serve as a bridge connecting governments, institutions, innovators and investors to accelerate practical sustainability solutions globally. Our fifth edition is not only a celebration of progress made over the years, but also a renewed call for global collaboration and actionable impact toward achieving the Sustainable Development Goals and Net Zero ambitions.”
The Global Sustainability Summit continues to position itself as a catalyst for transformative partnerships and sustainable global progress, reinforcing the urgent need for collective action toward a more resilient and sustainable future.
More announcements regarding additional speakers, partners and summit activities will be unveiled in the coming weeks.
News
US May Completely Cut Income Tax Due to Tariff Revenue

President Donald Trump says the United States might one day get rid of federal income tax because of money the government collects from tariffs on imported goods. Tariffs are extra taxes the U.S. puts on products that come from other countries.

What Trump Is Saying
Trump has said that tariff money could become so large that it might allow the government to cut income taxes “almost completely.” He has also talked about possibly phasing out income tax over the next few years if tariff money keeps going up.
How Taxes Work Now
Right now, the federal government gets much more money from income taxes than from tariffs. Income taxes bring in trillions of dollars each year, while tariffs bring in only a small part of that total. Because of this gap, experts say tariffs would need to grow by many times to replace income tax money.
Questions From Experts
Many economists and tax experts doubt that tariffs alone could pay for the whole federal budget. They warn that very high tariffs could make many imported goods more expensive for shoppers in the United States. This could hit lower- and middle‑income families hardest, because they spend a big share of their money on everyday items.
What Congress Must Do
The president can change some tariffs, but only Congress can change or end the federal income tax. That means any real plan to remove income tax would need new laws passed by both the House of Representatives and the Senate. So far, there is no detailed law or full budget plan on this idea.

What It Means Right Now
For now, Trump’s comments are a proposal, not a change in the law. People and businesses still have to pay federal income tax under the current rules. The debate over using tariffs instead of income taxes is likely to continue among lawmakers, experts, and voters.
News
Epstein Files to Be Declassified After Trump Order

Former President Donald Trump has signed an executive order directing federal agencies to declassify all government files related to Jeffrey Epstein, the disgraced financier whose death in 2019 continues to fuel controversy and speculation.
The order, signed Wednesday at Trump’s Mar-a-Lago estate, instructs the FBI, Department of Justice, and intelligence agencies to release documents detailing Epstein’s network, finances, and alleged connections to high-profile figures. Trump described the move as “a step toward transparency and public trust,” promising that no names would be shielded from scrutiny.
“This information belongs to the American people,” Trump said in a televised statement. “For too long, powerful interests have tried to bury the truth. That ends now.”
U.S. intelligence officials confirmed that preparations for the release are already underway. According to sources familiar with the process, the first batch of documents is expected to be made public within the next 30 days, with additional releases scheduled over several months.
Reactions poured in across the political spectrum. Supporters praised the decision as a bold act of accountability, while critics alleged it was politically motivated, timed to draw attention during a volatile election season. Civil rights advocates, meanwhile, emphasized caution, warning that some records could expose private victims or ongoing legal matters.
The Epstein case, which implicated figures in politics, business, and entertainment, remains one of the most talked-about scandals of the past decade. Epstein’s connections to influential individuals—including politicians, royals, and executives—have long sparked speculation about the extent of his operations and who may have been involved.

Former federal prosecutor Lauren Fields said the release could mark a turning point in public discourse surrounding government transparency. “Regardless of political stance, this declassification has the potential to reshape how Americans view power and accountability,” Fields noted.
Officials say redactions may still occur to protect sensitive intelligence or personal information, but the intent is a near-complete disclosure. For years, critics of the government’s handling of Epstein’s case have accused agencies of concealing evidence or shielding elites from exposure. Trump’s order promises to change that narrative.
As anticipation builds, journalists, legal analysts, and online commentators are preparing for what could be one of the most consequential information releases in recent history.
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