Definition
Local Law 144
NYC rule in force since July 2023 requiring an annual independent bias audit, a publicly posted summary, and 10 business days' notice to candidates before an automated tool evaluates them.
From the episode “Hiring Is an Operations Problem, Not an HR Problem”Hear it on the podcast1 episode
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Related terms in Finance & Markets
Jurisdictional Risk (Product)The legal, regulatory, and cultural constraints that differ across markets — US, EU, Asia, Australia — and that fundamentally shape what a product can do in each jurisdiction. Founders frequently underestimate these before entering new markets, resulting in expensive late-stage pivots. Even large, well-funded players have failed market entries by assuming local conditions matched home-market experience. Must be mapped before go-to-market strategy is finalized, not after.KYCKnow Your Customer. Identity verification using government-issued documents.Last Will and TestamentA legal document stating how a person's assets and responsibilities should be handled after death.LitigationResolving a dispute through the court system.Loss AversionThe behavioral economics finding that losing a dollar hurts roughly more than gaining a dollar feels good. Brad Pitzele's explanation for why fear outperforms ambition as a founder motivator.Lower Middle MarketBusinesses generating approximately $100M/year in revenue, often family-owned for decades, with accumulated proprietary data, SOPs, machine configurations, and operational knowledge that is vastly underutilized by software. Josh Furstoss's identified highest-value untapped market for vertical AI — unglamorous, cash-flowing, and largely ignored by founders from elite technical backgrounds.LTV (loan-to-value)The ratio of a loan to the value of the asset securing it. On-chain equity opens LTV-based lending against private shares that were previously illiquid.MCA (merchant cash advance)An expensive alternative funding product with APRs Anthony says can reach 400%.