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Compass CEO Robert Reffkin on the Future of Real Estate

Photo: Courtesy Subject/Illustration: Chloe Krammel
Robert Reffkin, the CEO of tech-focused real estate startup Compass Inc., says he never planned for the company to go public so early. The company IPOed in 2021, in the midst of a pandemic and housing bubble, and is currently valued at $7.8 billion. A housing boom and particularly strong period for IPOs helped fuel Compass s growth to become the largest independent brokerage in the nation.
The 41-year-old founder and former Goldman Sachs executive spoke to Brit Morse,
Inc. s assistant editor, in a recent stream event about his personal and professional journey as an entrepreneur, as well as his views on the housing market outlook. ....

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Big Banks Are Committing $10 Billion to Tackling Racial Inequity. Here's How to Get a Piece

Photo: Getty Images/Illustration: Chloe Krammel
Almost a year after the death of George Floyd, major banks and asset managers are committing billions towards addressing the effects of racial disparities in financial services.
On Tuesday, eighteen financial institutions including BlackRock, Morgan Stanley, Goldman Sachs Group, Bank of America, and Citigroup agreed to set aside $10 billion for businesses owned by people of color over the next five years. The money is meant to benefit underrepresented founders through increased contracting, funding, and capability-building, with the goal of driving $30 billion in economic impact.
The institutions, which control $27 trillion in assets and employ 750,000 people globally, are members of the Corporate Call to Action: Coalition for Equity & Opportunity (CCA), also referred to as the CEO Coalition. It s a corporate social justice initiative launched in September 2020 by the Connecticut Office of the Treasurer ....

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6 Fascinating Findings From the Epic Games-Apple Trial

Image: Getty. Illustration: Chloe Krammel
Almost halfway through the anticipated three weeks of testimony in one of tech s biggest court cases in a decade, it remains unclear whether Epic Games or Apple has the upper hand. But already a few fascinating facts about both companies inner workings have come to light in the antitrust suit.
Epic, the private Cary, North Carolina-based business behind the hit video game Fortnite, alleges that Apple has abused its power over software and game developers by charging commissions of roughly 30 percent on any purchases customers make within their iPhone apps. Epic also argues that Apple s app-review process holds back developers from opportunities and from competing fairly. ....

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Smart Socks? How Siren Is Targeting a Common Medical Problem

Image: Courtesy subject. Illustration: Chloe Krammel
When Ran Ma told her parents she was dropping out of her master s program in business administration to work on a sock prototype for diabetic patients, their reaction wasn t exactly encouraging.
My dad said, We re not going to talk until you figure out your life, says Ma. I don t think my parents understood what I was doing.
Ma, who had left a biotech master s program to pursue her business degree, had avoided a career in medicine despite coming from three generations of physicians. While working as an engineer at Northwestern University, she focused on a project involving a biomask that aimed to heal the burns of wounded veterans, which led her to create her own device to solve a specific medical problem. She had always been bothered that most wearable devices from Silicon Valley were predominantly fitness-related and aimed at the young and healthy, rather than the elderly and chronically ill. ....

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Small Business Week Town Hall: 3 Ways to Thrive in the New Normal

Photo: Getty Images/Illustration: Chloe Krammel
Small businesses have spent more than a year adapting to the many challenges of operating during a pandemic. Thanks to increased vaccination rates, many businesses are reopening and many employees are looking to return to the office. But while the future may be
more normal, it won t be the old normal.
In Wednesday s Small Business Week Town Hall, business leaders discussed how companies can survive and flourish in the post-pandemic future. The session was moderated by
Inc. executive editor Marli Guzzetta. Panelists included Jessica Johnson-Cope, Johnson Security Bureau CEO and president; Alejandro Velez, the co-founder and co-CEO of Back to the Roots; and Natalie Kaddas, the CEO of Kaddas Enterprises and vice chair of the Small Business Council. Here s a roundup of some of the takeaways from the session. ....

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