#baincapital — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #baincapital, aggregated by home.social.
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https://www.europesays.com/people/112564/ Sam Altman’s Eye-Scanning Startup Lays Off Staff #AndreessenHorowitz #BainCapital #BusinessInsider #company #contact #Employee #EyeScanningStartup #humanity #InternalEmail #Million #NextStep #PeopleTeam #SamAltman #SignUp #tool
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This won't be the end of this controversy, but a California court did not dismiss claims against Bain Capital over the PowerSchool data breach. In considering the timeline and the private equity firm's actions before and after its acquisition of PowerSchool in 2024, the court noted, in part:
"Post-closing, Bain directed PowerSchool to offshore cybersecurity, engineering, and IT functions to contractors, including offshoring required data-management tools that enabled vendors to bypass consent protocols and access protected school district computers directly.
Bain failed to assess data-breach risks from the offshoring it directed.
Post-closing, Bain directed layoffs of at least 5% of PowerSchool’s workforce, including critical domestic IT staff."
Read more from Womble Bond Dickinson at https://www.womblebonddickinson.com/us/insights/alerts/unprecedented-private-equity-firm-potentially-hook-portfolio-companys-data-breach
h/t, JDSupra, The National Law Review
#EdTech #Liability #negligence #PowerSchool #BainCapital #hackandleak
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CW: Long thread/12
The #ACA was an technocrat's iron-clad dream policy. It would work! After all, it "aligned the incentives" of healthcare investors and "harnessed markets" to drive efficiency. No one could accuse this policy - which was copypasted from former Massachusetts governor #MittRomney's #RomneyCare - of being "socialist." It was invented by a #BainCapital consultant!
12/
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Fintech Startup Offers $500 for Payroll Passwords https://krebsonsecurity.com/2021/05/fintech-startup-offers-500-for-payroll-passwords/ #WorkersResearchAlliancesLLC #ALittleSunshine #J.P.MorganChase #ShmulikFishman #CommonGrounds #KevinBeaumont #TheWorkNumber #WorkersUnited #BillyMardsen #BainCapital #SteveFriedl #UniteAtWork #WageCompete #argyle.com #T-Mobile #Equifax #Argyle #Earnin