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Cake-ism from the tech trade

The City watchdog wants to relax the rules on stock market listings to make life easier for tech firms.

The rules on press releases about tech firms have been getting lax for many, many months, and it might be time for a clampdown and a push back – by us.

For companies seeking press on a float, the absolute minimum it should disclose is how much stock it is selling, how much it is raising, what the implied value of the business then is and if management are cashing in, and by how much

Lately the firms, and their flaks, think they can get away with telling us far less than this. Annoyingly, such is the desire to report on tech and boost the idea that London is finally catching up on this stuff, that they get coverage anyway.

I think that if these firms aren’t ready to tell us these things, then they aren’t ready for the press.

They wish to remain private entities even while they join public markets and seek coverage in highly public newspapers.

This is cake-ism of which even Boris would be proud.

We may be heading towards the fairly ludicrous situation where the press has higher standards on required disclosure than the listings authority.

That simply can’t be right.

One in the eye for those of us keen on WFH – cyberattacks are down as the UK returns to offices says this from Beaming.

Sonia Blizzard says: “Cyberattacks on businesses surged when the UK went into lockdown last year as criminals sensed the opportunity to take advantage of under-protected home workers.”

“Attacks have fallen to near pre-pandemic levels as more people returned to their workplaces, but businesses are still in the firing line and face new attacks every minute. We continue to urge caution.”

See Press Release

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