Navigating through COVID-19

May 21, 20204 min read
Navigating through COVID-19
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At Yieldstreet, our mission is and always has been to empower people by helping them realize their next level. Along the same vein, we’re committed to supporting our employees, investors, and community during this global crisis. The COVID-19 pandemic has had a devastating impact on the world at large. Throughout this global struggle, we’ve pledged to do all we can to help those most in need. Here’s what we’re doing: 


Supporting our employees

Beginning on March 12, we asked our employees to begin working from home to encourage social distancing. Since this date, Yieldstreet has been operating 100% remotely. A pivot to a remote work culture always has its challenges, and our People team has been hard at work providing all employees (both in the US and abroad) the necessary support needed to make this transition. From providing computer monitors to those that need them to checking in on our employees who live alone, the health and well-being of our teammates is always top of mind for us.  

In addition, to increase transparency across teams, we’ve upped our internal communication considerably. We now have weekly all-hands meetings led by senior leadership, followed by a brief Q&A where employees are encouraged to ask questions. No inquiries are off-limits and our founders do their very best to share openly and honestly the company’s intentions during this difficult time.    

We’re aware that people often work longer hours at home because it’s harder to compartmentalize, and we’ve sent out tips and resources on how employees can put their mental health first while working remotely. Some highlights include virtual healthcare and mental health support through EdenHealth, OneMedical, and Health Advocate, as well as the Meditation Live app for meditation and mindfulness.

To encourage and maintain camaraderie, we’re hosting virtual happy hours, trivia sessions, swag spirit days, and meditation sessions. We also made Good Friday and the Friday before Memorial Day weekend paid holidays—both of which weren’t part of our original paid holiday schedule—to encourage our employees to take time for themselves. Our CTO even started a slack cooking channel for us to post pictures of homemade bread, pizza, brisket, jambalaya, and crêpe cake—just to name a few! 


Communicating with our investors

We’ve always been committed to taking an investor-first approach. Now, more than ever, our investors need clear and transparent communication from us to ease feelings of doubt and anxiety. Since the beginning of the outbreak, we’ve taken every opportunity to stay connected with our investors about the anticipated impact of COVID-19 on our investment portfolio as a whole, as well as the impact on each individual asset class. Additionally, we implemented a new communication policy that focuses on providing more frequent updates to our investors. 

Some of the ways we’ve let them know what we’re anticipating is by sharing our view of how the coronavirus pandemic may impact markets and our investment portfolio, as well as commentary from our founders. We’ve also done a Q&A with our Senior Advisor Daniel Posner on investing during times of uncertainty.  


Giving back to the community

We know that helping our community will be crucial to the recovery process.  As part of the COVID-19 relief movement, we recently partnered up with Robin Hood, a foundation known for its transparency in fund allocation. Together with Robin Hood, we’re supporting resilient organizations that are helping low-income New Yorkers survive and recover from the COVID-19 pandemic. The money donated will help our neighbors stay in their homes, provide access to adequate healthcare, and assist in closing the educational gaps. Robinhood is also connecting communities to food, benefits, and jobs. As a thank you to those who have donated, we’re sending custom-designed Yieldstreet t-shirts to any donation over $25. All proceeds from this fundraiser go directly to Robinhood and are immediately put to good use.

We understand that this is a difficult time for you and your loved ones, and we want you to know that we are here for you. We’re continually inspired by the resilience of our own team members, the dedication of our investors, and the strength of our communities. We are, after all, #NYTough. Until the end of this crisis, and beyond, we will remain dedicated to helping our investors realize their next level, no matter where they start.