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<br /><ul><li><strong>The outbreak of coronavirus has disrupted businesses and the experts now expect a global recession. <br /></strong></li><li><strong>Several countries like the US, Australia and European countries have therefore introduced measures to protect jobs and revive the economy. <br /></strong></li><li><strong>This includes the Paycheck Protection Program in the US, unlimited loans to businesses in Germany, wage subsidy in Australia and more. </strong></li></ul>Amid the coronavirus chaos and anticipations of a global recession directly impacting jobs and the labourforce, several countries like the US, Australia and European countries have introduced measures to protect jobs and revive the economy. <br /><br />The Indian government introduced an array of <a href="https://www.businessinsider.in/india/news/fm-nirmala-sitaraman-announces-six-steps-for-msme-sector/articleshow/75717258.cms">relief measures for the Micro, Small and Medium Enterprises (MSMEs)</a> — including moratorium on repayments, easy loans and more — as a part of the ₹20 lakh crore stimulus package. But none of the initiatives directly worked towards job protection and incentivizing businesses, especially MSMEs so as to retain employees. <br /><br /><strong>The Paycheck Protection Program in the US<br />    <div type="image" title="us corona" msid="76529787" hostid="261"></div></strong><br />Under the US Cares Act, the <a href="https://www.businessinsider.in/policy/economy/news/indian-billionaires-and-narendra-modi-must-protect-jobs-like-the-us-during-coronavirus-lockdowns/articleshow/75156295.cms">Paycheck Protection Programme</a> is a loan program or funding extended to the small businesses that offers to forgive loans if the companies keep all its employees on payroll for eight weeks — and that money can be used for managing employees, rent, mortgage etc. <br /><br />Besides that, the loans sanctioned under the <keyword id="9450124" type="UNKNOWN" weightage="20" keywordseo="paycheck-protection-programme">paycheck protection programme</keyword> require no fee, guarantee or a collateral but covers all the expenses for six months from the starting date. But a major discretion here is that these loans can be forgiven — which means that they convert to a non-taxable grant. “This sets it apart from the ones given in India. The main requirement for this kind of loan in the US is that 60% of the funds must be used for payroll and employee benefit,” Rajat Prakash, Managing Partner at Athena Legal, a law firm based in Delhi, told Business Insider. <br /><strong><br />Unlimited loans to large and small businesses in Germany</strong><br /><br />    <div type="image" title="america" msid="76529819" hostid="261"></div><br />On similar lines, Germany also offered both the small and large businesses an unlimited amount of loans to help them survive the pandemic. This will also save billions of euros spent in taxes. This is targeted at <keyword id="9450123" type="UNKNOWN" weightage="20" keywordseo="protecting-jobs">protecting jobs</keyword> and the economy. <br /><br />"There is no upper limit on the amount of loans that the bank can issue," Financial Times <a href="https://www.ft.com/content/c1f3507c-f59c-3068-905e-f1ae4938dfe0">reported</a> citing Germany’s finance minister Olaf Scholz. <br /><strong><br />Ireland and other European countries follow</strong><br /><br />Other <a href="https://www.weforum.org/agenda/2020/03/covid-19-quarantine-sick-pay/">European countries</a> are also learning from the measures undertaken by Germany. For instance, Ireland too relaxed the requirements to avail statutory sickness benefits. Under the initiative, every employee, including the gig workers is eligible for a ‘temporary income’ and incentive — if they show virus symptoms. <br /><br />In fact, for any person testing positive for coronavirus, the illness benefits can be claimed immediately. This will also entitle them to receive a 50% increased pay. The government is encouraging the organisations to pay their absent employees as well — who are self isolating. <br /><strong><br />Australia’s wage subsidy for 6 million people</strong><br /><br />While Australia provides a subsidy like in Australia — where the employers can take fortnightly payment for a particular amount per eligible employee. The Australian government said that the wage subsidy scheme will create j<a href="https://www.theguardian.com/world/2020/mar/30/australia-to-subsidise-wages-of-up-to-6m-workers-in-130bn-coronavirus-plan">obs for 6 million people in the next six months</a>. That makes it $1,500 per fortnight. The Australian Tax Office will pay the amount to the businesses that have witnessed a sharp decline in turnover and profits. <br /><strong><br />If India replicates...</strong><br /><br />However, it might not be a good idea to implement paycheck protection or unlimited loans. Rishi Agrawal, CEO &amp; Co-Founder of Avantis Regtech, a TeamLease Company, says that India does not need a similar paycheck protection program, rather equip them with a low-cost credit system that maintains credit history and measures creditworthiness. He says that the government should in fact create a process that reduces the cost of credit for those promoters who have great credit behaviour.<br /><br />“Paycheck assumes a high degree of formalisation, strong institutions with checks and balances to prevent misuse and exploitation. In fact, In India if you do Paycheck, NPAs (non performing assets) will go through the roof as people will figure out a network of dummy companies with dummy employees, take loans and 'disburse' them and seek forgiveness,” Agrawal commented. <br /><strong><br />See also:</strong><br /><a href="https://www.businessinsider.in/india/news/acharya-balakrishna-the-1-6-billion-ceo-behind-the-rise-of-patanjali-in-india/slidelist/76527837.cms">Acharya Balakrishna — the $1.6 billion CEO behind the rise of Patanjali in India</a><br /><br /><a href="https://www.businessinsider.in/india/news/maharashtra-delhi-and-gujarat-to-get-most-of-pm-cares-fund-ventilators/articleshow/76525495.cms">These are the states that will get a big chunk of the 50,000 ventilators from the PM CARES Fund</a><br />

This is how the US, Germany and other European countries tried to protect jobs amidst the coronavirus pandemic

<ul class="summary-list"><li>Nobel Prize-winning economist <keyword id="46139" type="PERSON" weightage="60" keywordseo="Joseph-Stiglitz">Joseph Stiglitz</keyword> said in an interview with CNBC that US <keyword id="45304" type="COMPANY" weightage="60" keywordseo="Stimulus">stimulus</keyword> programmes have "failed, and we have to admit that."</li><li>The US has launched $2 trillion worth of stimulus, and another $3 trillion package is set to be voted on by the Senate.</li><li>Stiglitz, who won a Nobel Memorial Prize in Economic Sciences in 2001, fears for the US economy, saying: "The worst case scenario for the economy is another Great Depression."</li><li>He said the US should also consider giving some benefits to those who are still in high school or recent graduates who don't usually qualify for unemployment insurance. </li><li>Failure to do this could lead to a "lost generation" of workers, Stiglitz said.</li></ul><p>Stimulus programs have failed to help the Americans in most dire need, according to famed Nobel Prize-winning economist Joseph Stiglitz. </p><p>Stiglitz told CNBC in an <a href="https://www.cnbc.com/2020/06/02/joseph-stiglitz-government-stimulus-programs-have-failed-americans.html?__source=twitter%7Cmain">interview</a> published Tuesday: "The problem wasn't just the amount of money. It was how the programs were designed," Stiglitz said.</p><p>"Our programs have failed, and we have to admit that," Stiglitz added. </p><p>The Treasury Department announced last month it would <a href="https://www.businessinsider.com/treasury-department-borrow-trillions-2nd-quarter-cover-virus-stimulus-debt-2020-5">borrow $2.99 trillion in the second quarter</a> to foot the bill for the government's economic rescue response to the coronavirus pandemic. </p><p>The US has already launched one $2 trillion stimulus programme, and another worth $3 trillion is currently before the Senate. It is unlikely to pass, however, as it was proposed by the Democratic Party and the Senate is controlled by Republicans.</p><p>Stiglitz said the Paycheck Protection Programme was "particularly badly designed."</p><p>Stiglitz, a professor at Columbia University and a winner of the Nobel Memorial Prize in Economic Sciences in 2001, noted: "The businesses with the best connections with the banks, the best customers, got at the head of the line, and those weren't the smallest businesses, they weren't the people who needed it most."</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/stock-picks-to-buy-25-high-upside-recommendations-goldman-sachs-2020-6?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">GOLDMAN SACHS: Buy these 25 beaten-down stocks all poised to jump more than 18% from current levels</a></em></p><p>The Nobel Memorial Prize in Economic Sciences is not technically a Nobel Prize as it was not established by Alfred Nobel, but it is widely considered the most prestigious prize in economics, and many consider it equivalent to a Nobel Prize.</p><p>Stiglitz downplayed the notion that the US economy will bounce back in a V-shaped recovery once the pandemic subsides. </p><p>"Even after pandemic is put under control, economic recovery is not going to be easy."</p><p>"The worst case scenario for the economy is another Great Depression. We are already at the levels of unemployment associated with the Great Depression," he added. </p><p><a href="https://www.businessinsider.com/us-weekly-jobless-claims-unemployment-filings-coronavirus-labor-market-layoffs-2020-5?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Some 40.7 million citizens have filed for unemployment </a>in the past 10 weeks.</p><h2>What the US can learn from other countries policies </h2><p>Stiglitz cited a number of other countries he believes have handled the pandemic better than the US.</p><p>"What is happening in the US compared to other countries is that Denmark and New Zealand did design the [stimulus] programmes in the way I would have recommended." </p><p>Some of these countries have paid companies to continue listing their workers on their payrolls, an approach which Stiglitz would have preferred the US to implement in tackling unemployment. </p><p>Stiglitz said the US needs to particularly focus on younger generations including recent graduates and those still completing high school. </p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/stock-market-crash-why-current-rally-is-trap-david-rosenberg-2020-5?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Famed economist David Rosenberg says investors are falling into a classic market trap that's historically preceded a further meltdown — and warns 'there's not going to be much of a recovery'</a></em></p><p>He said: "In our bailouts we didn't help the universities, we gave money to some dieing industries, but not to the industries of the future, including higher education."</p><p>"Those graduating from college or high right now are facing a very tough job market. They are not eligible for unemployment insurance, they are caught in between."</p><p>Stiglitz added that those who are in school or training are usually eligible for some form of benefits in Europe, something the US could implement. </p><p>He also thinks the US would have to at some point reduce the burden of student debt.</p><p>"Australia has a very good system based on Income Contingent Loans where the amount paid is related to your income and even after 20 years if you made the choice to go into [low paid sector] then they forgive the loan," he said. </p><p>Stiglitz added: "These are valuable years which you shouldn't be wasting feeling disconnected or resentful, I would put a high priority on that type of a programme."</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/value-investing-strategy-warren-buffett-3-stock-picks-john-buckingham-2020-6" target="_blank" rel="noopener">A portfolio manager at a $4.6 billion shop breaks down his Warren Buffett-inspired approach to investing — and shares 3 stocks he loaded up on in a 'really attractive' market upended by the coronavirus</a></em></p>Read the original article on <a href="https://www.businessinsider.com/us-stimulus-failed-nobel-prize-winning-economist-joseph-stiglitz-2020-6">Business Insider</a>

Nobel Prize-winning economist Joseph Stiglitz says US stimulus programmes have 'failed' — and that policymakers should now focus on preventing a 'lost generation' of workers

<ul class="summary-list"><li>Chirag Bahri worked as an engineer on <a target="_blank" href="https://www.businessinsider.com/cargo-ship-living-quarters-pictures-tour-youtube-video-2021-11">merchant vessels</a> during a nearly decade-long career at sea. </li><li>In 2010, his chemical tanker was held hostage by pirates for eight months. </li></ul><p><em>This as-told-to essay is based on conversations with </em><a target="_blank" href="https://www.seafarerswelfare.org/about/staff/chirag-bahri"><em><u>Chirag Bahri</u></em></a><em>, the International Operations Manager at the International Seafarers Welfare and Assistance Network (ISWAN). He was previously the Regional Director</em> <em>for South Asia for the Maritime Piracy Humanitarian Response Programme. His words have been edited for length and clarity.</em></p><p>I was 30 years old working as an engineer onboard a chemical tanker, the Marida Marguerite, sailing from India to Belgium. One month into the trip, we learned the ship would be adjusting course and sailing through the Gulf of Aden — a shipping route notorious for Somali pirates.</p><p>I had been sailing for eight years at this point. My initial reaction was I didn't want to continue on this vessel. However, I was told that if I stayed on board, I would receive a promotion to a senior ranking, so I took the risk in order to move ahead in my career.</p><p>I had just joined the crew and I really needed to be on the ship to earn money. <a target="_blank" href="https://www.businessinsider.com/cargo-ship-crewmen-left-unpaid-and-starving-jinan-kenya-2021-5">Seafarers are often supporting families </a>back home and sometimes are the sole breadwinners. Because of that, it becomes highly difficult to make a decision to sign off in the middle of a contract. It can take multiple months to find work on another vessel.</p><p>We'd also been informed that if we signed off from the vessel early, the money to return home <a target="_blank" href="https://www.businessinsider.com/cruise-ship-workers-reveal-what-happens-quit-job-at-sea-2023-4">would be redacted from our paycheck</a>. What we didn't know was that there was a clause in the contract that if you refused to sail through a high-risk zone like the Gulf of Aden, the company would pay for your flights home. This was not properly conveyed to us on board — seafarers are not always aware of what is in their contract and companies will exploit this.</p><p>When we started heading toward the Gulf of Aden, we tried preparing the ship the best we could. The company denied our requests for armed security guards onboard because this would cost them money. We also didn't have a Citadel (a protected area for crew to shelter during an attack) on the ship.</p><p><em>[Editor's note: Bahri sued his employer for negligence in 2013. The case was dismissed after the US court system determined a lack of jurisdiction. WOMAR and Heidmar, two companies alleged to have a role in managing the Marida Marguerite, did not respond to Insider's request for comment.]</em></p><h2><strong>I was in the engine room when I got the call that pirates had boarded the ship</strong></h2><div type="image" title="Google Maps screenshot skitched to show the Gulf of Aden" height="1150" width="1682" msid="104407341" hostid="261"></div><p>On May 8, 2010, our worst fears came true. I was in the engine room when I got the call that pirates had boarded the ship. At first I thought it was a joke, but as soon as we neared the bridge door, we heard screaming and shouting. I was in the front of the group when the pirates opened the door — that was the first time I saw a gun pointing directly at me.</p><p>We had no idea what pirates even looked like, let alone how to deal with them. We had never been trained on how to cooperate with your fellow colleagues or how to negotiate. We hoped the company would send law enforcement, but we were proven wrong at every point.</p><p>After 15 days, an <a target="_blank" href="https://archives.fbi.gov/archives/newyork/press-releases/2012/somali-hostage-negotiator-in-s-v-quest-piracy-and-pirating-of-m-v-marida-marguerite-found-guilty-on-all-counts">english-speaking negotiator came onboard</a> who introduced himself as an NGO worker. We thought he would help us, but we were again proven wrong — he was one of them. He was working with the pirates, almost like their lawyer. He figured out the cost of the vessel, how much the cargo was worth, and the nationalities of all the crew members. After about 20 days of being in captivity, the pirates sent their first demand of $15 million to the company.</p><h2><strong>I worked 12 hours a day during 8 months of captivity</strong></h2><p>I was still working in the engine room because the generators were running. For the generators to run, you need fuel, which you need to purify and bring to certain temperatures. You have to maintain a lot of machinery in order to ensure that these things work. </p><p>If the generators stopped working, we weren't sure how the pirates would react.</p><p>The food, water, and fuel were running out and we needed replacements in order for us to survive. The pirates would get excessively worried without lights on because they were scared rival gangs might overpower them in the night.</p><p>We had to convey to them that we didn't have enough fuel. They knew they couldn't get it and took out that frustration by beating us. They brutally assaulted senior officials on the ship to try and see if they hid fuel somewhere.</p><p>Four of us kept the engines going. We worked 12-hour shifts two at a time for eight months. We were working in a very dangerous environment because we had to cancel all the safeties on the machines, which meant they could explode at any time. There was fuel leaking everywhere. Sometimes, we were working barefoot because the pirates had taken our shoes.</p><p>Inside the engine room, it was 55 degrees Celsius (130 degrees Fahrenheit) and we had very little water to drink. Our bodies were covered in boils and rashes from the extreme heat. We were getting very little food.</p><p>The pirates were very suspicious of us going up and down in the engine room. They thought we could be contacting the outside world or playing games, so they'd harass us, hit us, spit in our faces, and tell us they were going to kill us.</p><p>They tied up our legs, hands, and genitals with nylon bands and kicked us. When we screamed in pain, they'd tighten the bands even more.</p><p>You can do nothing in that moment — it makes you feel inhuman, with no dignity. On top of that, we were dealing with the stress of how our families were handling the situation. They were always in the back of my mind, I was just hoping my family would survive until I returned home.</p><h2><strong>Structural issues in Somalia contributed to the rise in piracy</strong></h2><div type="image" title="Sunday, Sept. 23, 2012 file photo, masked Somali pirate Hassan stands near a Taiwanese fishing vessel that washed up on shore after the pirates were paid a ransom and released the crew, in the once-bustling pirate den of Hobyo, Somalia." height="2306" width="3741" msid="104407342" hostid="261"></div><p>For the pirates, the ship was like a five-star hotel. They had fresh water, they could shower. One of the pirates used to be an English professor and he told us the entire village was taken over by pirates during the Civil War. He was asked to either help guard our vessel, or die. So he took a gun and came onboard. He seemed good at heart. He never tortured us.</p><p>Another pirate taught us some Somali words so we could communicate better. He once helped us when we were being tortured and the gang beat him up badly because of it, but at least he tried.</p><p>They used to tell us how there was no food in Somalia, that people had eaten the flesh of each other to survive in times of extreme civil war and famine. They explained the reason the younger pirates were so violent was because they had only seen bloodshed since they were born.</p><p>They didn't have employment opportunities, and piracy was viewed as a lucrative job. I'm not trying to defend what they did, but there were <a target="_blank" href="https://www.businessinsider.com/climate-change-causes-increased-international-piracy-fish-supply-2023-5">structural issues at play</a>.</p><h2><strong>After months of negotiations, a $5.5 million ransom was paid for our release</strong></h2><div type="image" title="JANUARY 8, 2011: Dharmesh Gohil meet his mother at International Airport on Saturday, Indian nationals who were held captive by Somali pirates since May 2010 returned to Mumbai on Saturday morning. 19 Indian nationals along with two Bangladeshis and a Ukranian were held captive by the pirates after vessel MV Marida Marguerite was taken over by pirates on May 8,2010. " height="2418" width="3479" msid="104407346" hostid="261"></div><p>Hostage negotiations with pirates take so long because if the company agrees to pay the ransom right away, the pirates will just ask for an even higher number. The main thing the company has to do is convince the pirates that the company has no more money to pay them.</p><p>One day, the pirates said they were going to hand us over to al-Shabab, a terrorist group in Somalia, because the company was not releasing any money. We took the ship down to South Somalia and they had us call our families and tell them that the pirates would kill us if the company didn't agree to the negotiated amount in the next 24 hours. The company agreed to increase the ransom slightly. Then we returned and realized it was all just a gimmick.</p><p>After about seven months of captivity, we finally heard that the company agreed to pay $5.5 million. The money would be sent in the next 15 days.</p><p>On the last day during the money drop, the entire village was on the ship. They <a target="_blank" href="https://apnews.com/3c010c059d7c45e78173d305cb0f6e95">even had an accountant onboard</a> calculating everybody's share. They counted the money with a machine and distributed it, and then one by one, the pirates started getting off the ship. The negotiator gave us a phone number and said if any pirates came on board, we should tell them to call this number and they'd leave us alone.</p><h2><strong>I received medical treatment but no psychological support was provided at first</strong></h2><div type="image" title="A homecoming party for Indian crew members who were held hostage by Somali pirates for four years." height="853" width="1280" msid="104407347" hostid="261"></div><p>The last batch of pirates went off and we were all alone with no fuel left. We had just enough to run the generator for the next two or three hours. We were extremely nervous that another gang would come onboard. We decided if that happened, we would not give up easily — we would rather die than not be able to go home.</p><p>The company arranged a bunker boat with fuel and armed security guards. I just thought, we asked the company on the first day to send security guards and they never did. If they had listened to us, maybe this would never have happened.</p><p>We sailed for eight days to Salalah, where police came onboard to investigate. After four days there, we went home.</p><p>I received medical treatment for my physical injuries — I was not able to move my hand and head for a number of weeks. Initially, there was no psychological support offered. We had trouble sleeping through the night because of night terrors and became easily agitated and short-tempered.</p><p>We asked the company to provide psychological treatment and after six months they agreed, but it was too late. There were also some issues recovering my wages from the company. It took some time for me to completely recover.</p><h2>I still cherish the time I spent working onboard ships</h2><div type="image" title="Chirag Bahri was awarded the Dr. Dierk Lindemann Welfare Personality Award in 2015 for his work to support seafarers and families affected by piracy incidents." height="853" width="1280" msid="104407349" hostid="261"></div><p>Upon returning home, I noticed the gap in resources available for piracy survivors. I became passionate about helping seafarers and their families.</p><p>There is much less piracy in Somalia now, which is wonderful news. But wherever there is high poverty and socio-economic issues, <a target="_blank" href="https://www.businessinsider.com/piracy-somalia-could-come-back-2016-10">there's a chance attacks will happen</a>.</p><p>I can't prevent pirates from coming on board, but at least I can help seafarers prepare themselves on how to handle these kinds of difficult situations.</p><p>Now that piracy attacks have decreased, I'm taking a broader perspective on how to improve the mental health and well-being of <a target="_blank" href="https://www.businessinsider.com/harbor-pilots-make-six-figure-salary-high-fatality-rates-book-2021-9">seafarers around the world</a>.</p><p>It's a stressful job. Imagine a person <a target="_blank" href="https://www.businessinsider.com/cruise-ship-job-long-hours-low-pay-no-days-off-2023-2">working around the clock for six months without any breaks</a>. How do you deal with that? You don't get weekends off or opportunities to relax with your friends and family until you are off the ship.</p><p>We are trying to teach young seafarers how they can improve their health and well-being and how they can prepare themselves for the <a target="_blank" href="https://www.businessinsider.com/hundreds-seafarers-trapped-ukraines-ports-due-russian-invasion-2022-4">different crises that can happen at sea</a>. I'm not just talking about piracy, but also mental health and other personal issues. We teach them coping strategies and offer different resources they can refer to.</p><p>I still cherish the time I spent working onboard ships and I would encourage people to look at <a target="_blank" href="https://www.businessinsider.com/cruise-ship-officer-job-not-a-constant-vacation-2023-1">seafaring as a very positive, rewarding profession</a>. I had a few challenges, but the best part was that I was able to come out of it and be able to contribute to the maritime industry.</p>

I worked as an engineer on merchant vessels and my ship was held hostage by pirates for 8 months. I still cherish my career at sea.

<p class="source"><span>Reuters</span></p><p class="caption">FILE PHOTO: Rishi Khosla, co-founder and Chief Executive Officer of OakNorth Bank chats during an interview in London</p><ul class="summary-list"><li><strong>British fintech unicorn OakNorth has adjusted its services to adapt to the worldwide coronavirus pandemic.</strong></li><li><strong>The startup's cofounder, Rishi Khosla, was an entrepreneur during the 2008 global financial crisis and says the lessons learned from that downturn are informing his leadership decisions now. </strong></li><li><strong>"This is war time, you have to change everything," Khosla told Business Insider in an interview. "Now as in 2008 our prioritization completely changes into an immense focus on protecting the downside and looking after the upside."</strong></li><li><strong><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</strong></li></ul><p>Serial entrepreneurship and experience weathering the 2008 downturn have been invaluable to OakNorth cofounder Rishi Khosla.</p><p>OakNorth loans money to small- and medium-size businesses. It raised $390 million from SoftBank's Vision Fund as part of a wider $440 million round in 2018, one of the biggest funding rounds historically for a UK startup. It has quietly disrupted the $7.9 trillion mid-market lending space.</p><p>The firm, founded in 2015, is valued at $2.8 billion as a result. It is also profitable, making it a rarity both in the Vision Fund's portfolio and on the wider unicorn scene.</p><p>As startups struggle for business and funding amid an inevitable, pandemic-related crunch, Khosla says the lessons he learned from during the 2008 global financial crisis are informing leadership decisions now.</p><p>"This is war time, you have to change everything," Khosla said. "Now, as in 2008, our prioritization completely changes into an immense focus on protecting the downside and looking after the upside."</p><p>In 2002, Khosla founded financial research company, Copal Amba, alongside Joel Perlman, his cofounder of OakNorth. Copal Amba was sold to Moody's in 2014.</p><p>Now Khosla says providing radical transparency to teams and using data to inform decisions are now paying dividends at OakNorth.</p><p>He cites the company's activity in the US in recent weeks as a key example of its swift adaptation to the current crisis.</p><p>OakNorth has signed up two new US clients, Customers Bank and Modern Bank, to help expand access to the federal government's Paycheck Protection Programme (PPP). PPP is a new form of financial support from the US federal government which provides funding up to $10 million to businesses with fewer than 500 employees to meet payroll needs.</p><p>"In a 12 day period we went from first hearing about the US government's plans, to working what a tech solution could look like, to winning our first client and then going live with that first client," Khosla said.</p><p>He added: "I believe the strongest entrepreneurs are proven in periods of downturn, you have to see the opportunity and adapt the organization." </p><p>It has followed a similar blueprint in the UK.</p><p>The British Business Bank added OakNorth, alongside challenger bank Starling Bank, to its new Coronavirus Business Interruption Loan Scheme (CBIL) as an accredited lender this week. </p><p>CBILs are emergency loans of up to £5 million made in the form of term loans, overdrafts, or invoice and asset finance to small businesses, with lenders receiving government guarantees.</p><p class="source"><span>Reuters</span></p><p class="caption">SoftBank Group Corp Chairman and CEO Masayoshi Son speaks during their joint news conference with Toyota Motor Corp President Akio Toyoda in Tokyo</p><p>OakNorth saw a 95% uptick in its pre-tax profits for 2019, to £65.9 million ($82 million), making it one of the few profitable businesses in SoftBank's portfolio. SoftBank CEO Masayoshi Son recently announced that around <a href="https://www.businessinsider.com/softbank-masayoshi-son-predicts-15-vision-fund-bankrupt-rescue-package-2020-4?r=US&amp;IR=T">15 of the Vision Fund's 88 portfolio companies</a> would go bust due to coronavirus. </p><p>Several of the SoftBank-backed businesses in trouble, including hotel chain Oyo, count the Japanese firm as a majority investor, making the pandemic a mutual problem for the companies, but Khosla says that isn't the case at OakNorth. </p><p>"SoftBank is a very valuable investor, but we're not a SoftBank-owned company," he added. "We make our own decisions." </p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-covid-19-social-distancing-looks-from-maxar-satellite-2020-3">How social distancing during the COVID-19 pandemic looks from a satellite</a></h3>

'This is war time, I'm leading from the front': The cofounder of profitable SoftBank unicorn OakNorth is drawing on his 2008 crisis experience to deal with the coronavirus

By Lalit K Jha <p>Washington, Apr 29 () The number of people infected by the coronavirus pandemic in the US crossed the one million-mark on Tuesday, while the fatalities spiked to over 58,300, exceeding the number of American soldiers who lost their lives in the two-decade-long Vietnam War.</p><p>According to the US National Archives, 58,220 American soldiers died in the Vietnam conflict, which began in 1955 and ended in 1975. </p><p>The US became the first country in the world to have more than one million cases of coronavirus. It accounts for nearly one-third of the 3.1 million cases globally.</p><p>With 58,355 deaths so far, the US also accounts for one-fourth of the over 213,000 global fatalities.</p><p>"We continue to pray for the victims as well as for those Americans who are grieving their lost ones and their loved ones. There's never been anything like this. We suffer with one heart but we will prevail. We are coming back, and we're coming back strong," US President Donald Trump said at the White House during his remarks on the Paycheck Protection Programme.</p><p>"Now that our experts believe the worst days of the pandemic are behind us, Americans are looking forward to the safe and rapid reopening of our country," he said.</p><p>"Throughout this ordeal, millions of hard-working Americans have been asked to really make tremendous, tremendous sacrifices. It is sacrifices like nobody thought would even be possible; nobody thought we would ever be talking about something like this," Trump said.</p><p>Meanwhile, several states have initiated the process to reopen their economies. </p><p>In California, Governor Gavin Newsom outlined the phased reopening of his state.</p><p>"We are not going back to the way things were until we get to immunity or a vaccine. We will base reopening plans on facts and data, not on ideology. Not what we want. Not what we hope," he told reporters.</p><p>More than 1,800 people have died due to the coronavirus in California so far. </p><p>Schools and colleges, he said, could start in July-August.</p><p>California and Washington were among the first two states to impose stay-at-home order. Now more than 95 per cent of the country's 330 million population are under stay-at-home order.</p><p>Texas Governor Greg Abbott has also announced first phase reopening of the state.</p><p>Tennessee on Monday allowed reopening of restaurants and later this week retail outlets could resume their businesses.</p><p>Pennsylvania has announced three-phase reopening of the state beginning May 3.</p><p>States like South Carolina, Oregon, Oklahoma, Ohio, have announced phased reopening of their economies. The state of Utah on Tuesday announced relax restrictions and offered a mask to its residents.</p><p>In New York -- the epicentre of the coronavirus outbreak in the US -- non-essential businesses are ordered to stay closed till May 15. New York along with other states, including New Jersey, Connecticut, Pennsylvania, Delaware, Rhode Island and Massachusetts, have announced to coordinate reopening.</p><p>Responding to questions, Trump said the US has done more testing that any other country in the world. </p><p>"We're doing more testing than any other country in the world by far...So, we're going to show more cases because we're doing much, much more testing, double than anybody else," he said.</p><p>Trump said he relied on experts, who apparently went wrong on this.</p><p>"We were listening to experts and we always will listen to experts. But, the experts got it wrong. A lot of people got it wrong. And, a lot of people had no idea it would be this serious," he said.</p><p>"I listened to experts. I'll tell you what. I did something that the experts thought I shouldn't have done. I closed down our country and our borders. I did a ban on China from coming in, other than US citizens, and we did very strong checks on even our US citizens," he asserted.</p><p>The United States, he said, is opening up again.</p>"I think it's going to be very, very successful. I think that third quarter, it's obviously a transition quarter, but I think it's going to be okay, maybe better than okay. Then I think fourth-quarter will the great and I think next year is going to be a tremendous year for this country," Trump said.  LKJ ABH SCY AKJ  SCY

COVID-19 cases in US crosses 1 million-mark; death toll exceeds American fatalities in Vietnam War

<ul class="summary-list"><li>Many schools, offices, conferences, and even Broadway shows have been cancelled in the US in an effort to help reduce the spread of <a href="http://www.businessinsider.com/category/wuhan-coronavirus">the novel coronavirus</a>. </li><li>Guidance for <keyword id="34615" type="ORGANIZATION" weightage="60" keywordseo="restaurants">restaurants</keyword> and patrons varies widely by state and jurisdiction.</li><li>Experts told Insider people at <a href="https://www.businessinsider.com/china-virus-everything-we-know-deadly-2019-ncov-wuhan-spread-2020-1">higher risk for coronavirus</a> should eat in, and even healthy people should recognize going out isn't risk-free. </li><li>If you must eat out, choose places that aren't crowded and where you won't be seated closely together.  </li></ul><p>As Americans stage home offices, <a href="https://www.insider.com/what-does-social-distancing-mean-how-you-can-practice-it-2020-3">cancel social events</a>, avoid public transportation, and otherwise practice social distancing in an effort to reduce the chances of contracting and spreading the novel <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>, many are wondering, "Can we at least go out to eat?" </p><p>The answer, experts say, depends. Your own vulnerabilities to the disease, where you live, and the <keyword id="6371025" type="UNKNOWN" weightage="60" keywordseo="restaurant">restaurant</keyword> you're considering going to itself all matter. Plus, your responsibilities to your community play a role in the answer, too. </p><p>"So much of this is situation specific," Lauren Dunning, a director for the Milken Institute Center for the Future of Aging, who was most recently at the Los Angeles County Department of Public <keyword id="6354750" type="UNKNOWN" weightage="100" keywordseo="health">Health</keyword> focusing on chronic and infectious diseases.</p><p>Here, experts break down exactly what you should consider before going out to eat. </p><h2>People over 50 shouldn't eat out, one expert said</h2><p><a href="https://www.businessinsider.com/cdc-americans-over-60-stock-up-on-groceries-stay-home-2020-3">Older adults and those with underlying health conditions</a> like heart disease, diabetes, and lung diseases, are especially vulnerable to contracting COVID-19 and getting seriously ill from it. </p><p>"I would advise those that are above 50 and/or have pre-existing health conditions to avoid going out to eat altogether," Amit Malik, former clinical director of operations for various hospitals and health systems including New York Presbyterian Hospital, told Insider. </p><p>That doesn't mean healthy, young people should rush out for every meal, though. "If you're going out to eat, you are putting yourself at risk, period," Malik said, because the virus spreads when people are in close quarters, which outside of a pandemic, are the appeal of restaurants and bars. </p><p>"It's recommended for everyone, regardless of age and health status, to avoid being in large crowded places for the foreseeable future," Malik said, and to, of course, <a href="https://www.businessinsider.com/how-to-dry-your-hands-preven-coronavirus-2020-3">wash and dry your hands frequently and thoroughly</a>. </p><div type="image" title="crowded restaurant" height="787" width="1200" msid="77545306" hostid="261"></div><h2>Choose where you dine wisely</h2><p>If you do choose to go out to eat, where you go matters.</p><p><a href="https://drdarria.com/">Dr. Darria Long Gillespie</a>, clinical assistant professor at University of Tennessee Erlanger and national spokesperson for the American College of Emergency Physicians, suggested people ask: How many people will be there? How close will you be to all of those people? How well ventilated is the space or how much people can move around?</p><p>"The more people, the more closely packed, and the more poorly ventilated the space, you can imagine that's a bad situation," she said. On the other hand, she said, going to an uncrowded, open-air restaurant with a friend or two is a lower risk. </p><p>Many states and cities have implemented capacity limits to eliminate the possibility of walking into a crowded restaurant altogether. New York City, for one, has limited indoor capacity to 50% or less at <a href="https://ny.eater.com/2020/3/12/21175439/coronavirus-nyc-restaurant-capacity-reduce">venues including bars and restaurants</a> that seat under 500 people. Venues higher than that capacity have been ordered to close.</p><p>But the rules vary by jurisdiction and much is left up to restaurants and individual patrons. If you live somewhere that hasn't instituted similar guidelines, Malik suggested avoiding places where groups of people are huddled around the bar or high-tops, as well as restaurants that have waiting areas where patrons are hanging out while they wait for their table to be prepared. </p><p>"It's wise at this time to avoid being in close contact with strangers for any extended period of time given the facts about how this virus is spread," he said. </p><h2>Not all social distancing shields are created equal</h2><p>Some restaurants are getting creative with their set-ups to encourage dining at a distance.</p><p>In Amsterdam, for example, one restaurant built <a href="https://www.insider.com/amsterdam-restaurant-mini-greenhouses-cubicles-social-distance-2020-5">small greenhouses</a> on its waterfront to physically separate outdoor diners. A café in Germany went with a more whimsical solution: handing out <a href="https://www.insider.com/german-cafe-pool-noodles-social-distance-2020-5">hats with pool noodles attached</a> to ensure that customers sit at a safe distance.</p><p>Indoor dining poses more of a challenge, but in France, some restaurants are investing in <a href="https://www.insider.com/a-restaurant-is-testing-plastic-shield-pods-keep-diners-safe-2020-5">lampshade-like plastic shields</a> that cover individual patrons while they eat. <a href="https://www.insider.com/ways-restaurants-are-getting-social-distancing-right-2020-5#hotpots-are-enjoyed-in-thailand-with-the-help-of-plastic-barriers-18">Plastic partitions</a> also make it possible for friends to sit at the same table while social distancing.</p><p>But not all solutions have been effective; namely, <a href="https://www.insider.com/face-shields-did-not-protect-people-from-coronavirus-swiss-outbreak-2020-7">plastic face shields</a> failed to prevent the spread of the coronavirus at a hotel in Switzerland. Swiss health officials, echoed by the World Health Organization and Dr. Anthony Fauci, said that, when in doubt, masks and social distancing are the best measures you can take to stay healthy. </p><h2>You probably won't get COVID-19 from <keyword id="6181" type="COMPANY" weightage="60" keywordseo="Food">food</keyword></h2><p>There's <a href="https://www.businessinsider.com/frozen-food-unlikely-to-transmit-coronavirus-like-in-new-zealand-2020-8?r=US&amp;IR=TIR=T">currently little to no evidence</a> suggesting you can contract the coronavirus from <a href="https://www.cdc.gov/coronavirus/2019-ncov/daily-life-coping/food-and-COVID-19.html">handling or consuming food or drinks</a>. COVID-19 is a respiratory illness, so it's primarily spread through droplets released when someone coughs, sneezes, or talks.</p><p>"People should not fear food, or food packaging or processing or delivery of food," WHO head of emergencies programme Mike Ryan <a href="https://www.reuters.com/article/us-health-coronavirus-who/people-should-not-fear-spread-of-covid-19-in-food-packaging-who-idUSKCN2592D5">told a briefing</a> in Geneva on Aug. 13. "There is no evidence that food or the food chain is participating in transmission of this virus. And people should feel comfortable and safe."</p><p>Still, you may want to stick with restaurants you trust to be smart about food safety.</p><p>"I'd recommend avoiding restaurants that have poor ratings from food inspections — those are restaurants you'd want to avoid anyway," Sue Ann Bell, an assistant professor at the University of Michigan School of Nursing and expert on the health effects of disasters, told Insider.</p><p>The restaurant industry is <a href="https://www.businessinsider.com/coronavirus-fears-mcdonalds-starbucks-close-2020-1">taking its own precautions</a> to help keep customers and staff safe, with some adding hand-sanitizing stations or signs reminding people to wash their hands and stay home if they're sick.</p><p style="font-weight: 400;">"Restaurants take care and concern practicing safe food preparation and handling under normal circumstances," Larry Lynch, senior vice president of science and industry for the National Restaurant Association, said in a statement to Insider. "State and local food codes establish strict safe food handling requirements for restaurants, and operators are being proactive by stepping up existing cleaning and sanitation procedures."</p><div type="image" title="ubereats delivery" height="1984" width="3000" msid="77545310" hostid="261"></div><h2>Consider your community and other options  </h2><p>As with all coronavirus prevention protocols, it's not just about keeping yourself safe, it's about keeping your neighbors and community healthy too, Dunning stressed. </p><p>So, on the one hand that may mean healthy young people should consider eating in to avoid being a vector of illness for someone more vulnerable; but on the other hand it could mean patronizing a local establishment to <a href="https://www.businessinsider.com/the-gig-economy-with-lack-of-sick-leave-spreading-coronavirus-2020-3">help lower-wage workers continue to get their paychecks</a>.</p><p>If you're vulnerable to the illness or would rather stay in, you can still help your community by ordering from a favorite restaurant through a service like Door Dash or Uber Eats, Bell said. Or, Dunning suggested, call ahead to see if you can pick something up to eat at home or buy a gift certificate from the joint to use later. </p><p>"We all want to do our part," Dunning said. </p><ul class="read-more-links"><li><strong>Read more:</strong></li><li><a href="https://www.insider.com/what-does-social-distancing-mean-how-you-can-practice-it-2020-3">What 'social distancing' actually means, and how to know if you should cancel your plans during the coronavirus outbreak</a></li><li><a href="https://www.businessinsider.com/mcdonalds-workers-push-for-paid-sick-leave-as-coronavirus-spreads-2020-3">McDonald's restaurant workers push for paid sick leave and updated safety policies as coronavirus spreads across the US</a></li><li><a href="https://www.insider.com/coronavirus-help-acts-of-kindness-good-deeds">10 heartwarming ways everyday heroes are helping people affected by coronavirus</a></li><li><a href="https://www.insider.com/when-is-too-late-to-get-flu-shot-coronavirus-2020-3">Why you should still get the flu shot, even though it won't directly protect you from the coronavirus</a></li></ul>

You don't have to avoid restaurants, but there are some coronavirus risks you should be aware of

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://www.flickr.com/photos/robb3d/3822575636/">robb3d via flickr</a></span></p></div><p></p></div></div>There are <a href="http://www.businessinsider.com/signs-you-are-in-the-wrong-college-major-even-if-it-doesnt-feel-like-it-2016-8">a lot of things to consider</a> when choosing a college major.</p><p><span>Salary potential is one of them.</span></p><p><span>While this shouldn't be the sole thing that attracts you to a major, it <em>is</em> helpful to know which degrees pay off the fastest.</span></p><p>"For new grads drowning in student loans and sky-high rents, a solid paycheck can be critical during the first few years in the real world," <a href="https://www.glassdoor.com/blog/50-highest-paying-college-majors/">writes</a> <a href="https://www.glassdoor.com/index.htm">Glassdoor</a>'s Allison Berry.</p><p>Glassdoor <a href="https://www.glassdoor.com/blog/50-highest-paying-college-majors/">recently analyzed</a> hundreds of thousands of résumés and corresponding salary reports to determine which majors <a href="https://www.glassdoor.com/blog/50-highest-paying-college-majors/">pay the most during the first five years out of college</a>.</p><p>"If college students want to land a high-paying job after graduation, they should strongly consider majoring in science, technology, engineering, or math," says Dr. Andrew Chamberlain, Glassdoor's chief economist, in a press release. "STEM majors are in demand by the technology and health industries, which offer higher paying jobs that are better protected from competition or automation."</p><p>Here are the 50 highest-paying college majors, according to Glassdoor's research:</p><h3>50. Biology</h3><p>Median base salary: $41,250</p><p>Popular entry-level jobs: lab assistant, paramedic, tutor</p><h3>49. Social work</h3><p>Median base salary: $41,656</p><p>Popular entry-level jobs: social worker, mental health counselor, camp counselor</p><h3>48. Healthcare administration</h3><p>Median base salary: $42,000</p><p>Popular entry-level jobs: medical assistant, file clerk, office manager</p><h3>47. Sociology</h3><p>Median base salary: $42,000</p><p>Popular entry-level jobs: HR assistant, account manager, administrative assistant</p><h3>46. Psychology</h3><p>Median base salary: $42,000</p><p>Popular entry-level jobs: case manager, mental health counselor, sales associate</p><h3>45. Liberal arts</h3><p>Median base salary: $42,500</p><p>Popular entry-level jobs: sales manager, receptionist, teacher</p><h3>44. Biochemistry</h3><p>Median base salary: $42,672</p><p>Popular entry-level jobs: research technician, pharmacy technician, chemist</p><h3>43. Hospitality management</h3><p>Median base salary: $44,000</p><p>Popular entry-level jobs: food and beverage manager, front desk manager, housekeeping manager</p><h3>42. Anthropology</h3><p>Median base salary: $43,000</p><p>Popular entry-level jobs: project coordinator, research assistant, administrative assistant</p><h3>41. <keyword id="6355445" type="COMPANY" weightage="60" keywordseo="Education">Education</keyword></h3><p>Median base salary: $43,000</p><p>Popular entry-level jobs: special education teacher, elementary school teacher, language teacher</p><h3>40. Sports management</h3><p>Median base salary: $43,156</p><p>Popular entry-level jobs: personal trainer, sales associate, production assistant</p><h3>39. Public relations</h3><p>Median base salary: $43,156</p><p>Popular entry-level jobs: public relations coordinator, account executive, event planner</p><h3>38. Film studies</h3><p>Median base salary: $44,000</p><p>Popular entry-level jobs: production coordinator, video editor, proposal manager</p><h3>37. Music</h3><p>Median base salary: $44,000</p><p>Popular entry-level jobs: music teacher, audio engineer, media sales associate</p><h3>36. Chemistry</h3><p>Median base salary: $44,000</p><p>Popular entry-level jobs: pharmacy technician, chemist, laboratory technician</p><h3>35. Interior design</h3><p>Median base salary: $44,098</p><p>Popular entry-level jobs: interior designer, visual merchandiser, drafter</p><h3>34. Communications</h3><p>Median base salary: $44,190</p><p>Popular entry-level jobs: public relations coordinator, journalist, content marketing manager</p><h3>33. Spanish</h3><p>Median base salary: $44,256</p><p>Popular entry-level jobs: Spanish teacher, translator, project manager</p><h3>32. Social science</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: HR assistant, management consultant, visual manager</p><h3>31. Environmental science</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: environmental scientist, laboratory technician, safety manager</p><h3>30. Philosophy</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: teaching assistant, writer, consultant</p><h3>29. Advertising</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: account executive, marketing analyst, media planner</p><h3>28. Journalism</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: reporter, editor, public relations coordinator</p><h3>27. Human resources</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: HR coordinator, corporate recruiter, HR analyst</p><h3>26. History</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: research assistant, history teacher, teaching assistant</p><h3>25. Political science</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: law clerk, paralegal, consultant</p><h3>24. English</h3><p>Median base salary: $45,000</p><p>Popular entry-level jobs: English teacher, editor, copywriter</p><h3>23. Marketing</h3><p>Median base salary: $45,475</p><p>Popular entry-level jobs: marketing coordinator, account executive, marketing analyst</p><h3>22. Graphic design</h3><p>Median base salary: $45,846</p><p>Popular entry-level jobs: graphic designer, web designer, art manager</p><h3>21. International relations</h3><p>Median base salary: $45,880</p><p>Popular entry-level jobs: marketing associate, English teacher, research assistant</p><h3>20. Business</h3><p>Median base salary: $47,850</p><p>Popular entry-level jobs: account manager, marketing manager, market research analyst</p><h3>19. Fashion design</h3><p>Median base salary: $50,000</p><p>Popular entry-level jobs: fashion designer, textile designer, stylist</p><h3>18. Architecture</h3><p>Median base salary: $50,000</p><p>Popular entry-level jobs: architect, CAD designer, project designer</p><h3>17. Biotechnology</h3><p>Median base salary: $50,000</p><p>Popular entry-level jobs: laboratory technician, quality control analyst, research associate</p><h3>16. Physics</h3><p>Median base salary: $50,000</p><p>Popular entry-level jobs: physicist, research fellow, computer programmer</p><h3>15. Economics</h3><p>Median base salary: $52,000</p><p>Popular entry-level jobs: financial analyst, management analyst, accountant</p><h3>14. Accounting</h3><p>Median base salary: $52,000</p><p>Popular entry-level jobs: accountant, auditor, financial analyst</p><h3>13. Biomedical engineering</h3><p>Median base salary: $52,814</p><p>Popular entry-level jobs: biomedical engineer, service engineer, clinical research associate</p><h3>12. Mathematics </h3><p>Median base salary: 54,018</p><p>Popular entry-level jobs: math teacher, software engineer, data analyst</p><h3>11. Finance</h3><p>Median base salary: $54,900</p><p>Popular entry-level jobs: financial analyst, investment banking analyst, accountant</p><h3>10. Management information systems</h3><p>Median base salary: $58,000</p><p>Popular entry-level jobs: network administrator, help desk analyst, business analyst</p><h3>9. Nursing</h3><p>Median base salary: $58,928</p><p>Popular entry-level jobs: registered nurse, licensed vocational nurse, case manager</p><h3>8. Statistics</h3><p>Median base salary: $60,000</p><p> Popular entry-level jobs: data analyst, statistician, data scientist</p><h3>7. Civil engineering</h3><p>Median base salary: $61,500</p><p>Popular entry-level jobs: civil engineer, structural engineer, field engineer</p><h3>6. Information technology</h3><p>Median base salary: $64,008</p><p>Popular entry-level jobs: programmer analyst, technical support, systems engineer</p><h3>5. Industrial engineering</h3><p>Median base salary: $64,381</p><p>Popular entry-level jobs: industrial engineer, quality engineer, production planner</p><h3>4. Chemical engineering</h3><p>Median base salary: $65,000</p><p>Popular entry-level jobs: chemical engineer, process engineer, project engineer</p><h3>3. Mechanical engineering</h3><p>Median base salary: $68,000</p><p>Popular entry-level jobs: mechanical engineer, design engineer, project engineer</p><h3>2. Electrical engineering</h3><p>Median base salary: $68,438</p><p>Popular entry-level jobs: electrical engineer, systems engineer, software developer</p><h3>1. Computer science</h3><p>Median base salary: $70,000</p><p>Popular entry-level jobs: software engineer, systems engineer, web developer</p><p><em><a href="https://www.glassdoor.com/blog/50-highest-paying-college-majors/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=50CollegeMajors_US16&amp;utm_campaign=Oct2016_US">Read more about the methodology here.</a></em></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/bethenny-frankel-ellen-degeneres-life-advice-2016-9">Skinnygirl founder Bethenny Frankel says Ellen DeGeneres gave her the best life advice</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VkNjUyNjE6KX3Ls_KFDvAmihNhwqZ3jf" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The 50 college majors that lead to the highest pay right out of school

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>For many people, working at Google is a dream job. So, in June, 2011 when Google bought a tiny startup called PostRank, and asked its CEO Carol Leaman to come work there, she was intrigued.</p><p>Google's offer was a complete surprise.</p><p>Leaman was actually in the midst of negotiating the sale of her company to one of her customers, she told us. This was the third tech company she sold after running it as a CEO.</p><p>"The Google acquisition came out of the blue. I had, literally, the day before shook on a deal with one of our customers. So in a 12-hour period, I had two offers for the company that were unsolicited," she told us.</p><p>The Waterloo, Ontairo, startup quickly decided to sell to Google instead. PostRank founder Ilya Grigorik, a young whiz-kid programmer from Russia, happily moved to California to work for Google, as did most of the other employees. He's <a href="https://www.linkedin.com/in/igrigorik">still working there.</a></p><p>Google wanted Leaman to move to California, too. When she wavered, Google offered her a completely new role in its Waterloo offices.</p><p>It seemed like a no-brainer to take the job, especially because her personal life was in turmoil. She was in the middle of a divorce.</p><p>But she had this nagging feeling.</p><p>She was advising a cool little gamification company called Axonify that turns corporate training into games, and a little voice told her she should buy it and run her own company, instead of working for someone else.</p><p>"I struggled with the decision for about two weeks. Do I go with this secure thing, and be a high-income wage earner during this highly tumultuous time of my life? Or do I just take a huge risk and use what little money I had left to buy this company and live for a year on what was in my bank account?" she said.</p><h2>She turned Google down</h2><p>"My general inclination is that I have no interest in going with an acquirer after the fact," she said. "I love running early stage tech companies and forming them from almost scratch. I worked for a public company early in my career. It's a whole other kettle of fish."</p><p><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"></div><p></p></div></div>She "went all in," with her savings and found a  partner to take on sales, Christine Tutssel. The two of them worked without a paycheck for a year.</p><p>If Axonify ran out of money before Leaman could get it off the ground, she would have been broke.</p><p>"You might find me holding a roadside sign at a construction site right now," she laughs now.</p><h2>The woman factor</h2><p>There was another risk in turning Google down. Having run three companies in Waterloo, she knew that raising money outside of Silicon Valley isn't as easy. And it's even rougher when the company is run by women, she says.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>"I do believe there is gender bias, certainly in raising capital. I'm not your typical 25-30 year old software developer," she says.</p><p>She knew she had to build her company the old fashioned way: By getting customers and keeping them happy, she says.</p><p>"There is no such thing as a technology race any more. It's a marketing race. Anybody can build anything," she says. "You just need to go get customers as fast as humanly possible and lock them down with real value, so you buy yourself years in the market and you can grow from there."</p><p>In the Valley, a lot of startups acquire customers by raising a boatload of money, staying in the red and spending their investment as fast as they can. One Valley VC recently insisted <a href="http://www.businessinsider.com/founders-fund-vc-scott-nolan-wants-startups-that-burn-cash-2015-4">that he <em>only</em> invests in companies burning through loads of cash.</a></p><p>But Leaman's experience is that "a lot of us don't get afforded that path. We have to make the business work," she says.</p><p>Fortunately, she can find VCs who are convinced by her successful track record. She was able to raise an <a href="https://www.crunchbase.com/organization/axonify">undisclosed investment in 2013.</a></p><h2>She didn't go broke</h2><p>Flash forward to early 2015 and her risk is paying off. Axonify is thriving, she says.</p><p>When she bought the company in 2011, it had 1 real customer, 2 full-time employees and one part timer. It now employs 50 people and has 55 Fortune 1000 customers (and will hit 100 customers this year, she believes).</p><p><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"></div><p></p></div></div>It delivers gamified training to 400,000 employees at those 55 companies, which include big names like Pep Boys, Walmart, Bloomingdales, Toys R Us, and Capital BlueCross.</p><p>Employees play a short game every day which helps hone skills for selling more, preventing accidents and protecting inventory.</p><p>"Pep Boys saved $50 million on loss items like medical injuries and lost items in the store," she says.</p><p>But it wasn't until last fall that Leaman really knew that she did the right thing in turning down Google.</p><p>The company had just landed Toyota as a customer who wanted to use the tool in an unexpected way. And the same week, she won a deal out from under a huge competitor.</p><p>"It was September of last year, and I knew in my gut that the tide had turned. We were on a path and we were going to be successful," she says.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/charge-iphone-faster-apple-battery-life-2015-2">How to supercharge your iPhone in only 5 minutes</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9hdGRuczob3nOr91AW6QS6gV7dw6BzKX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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