Why Seattle startups may be insulated from the economic downturn

Key Amazon exec leaves: More details are emerging about the news this morning that Amazon Consumer CEO Dave Clark is leaving the company.

• The lack of an immediate successor suggests Amazon was surprised, but Clark wrote in a farewell message that he has discussed his intent to “transition out of Amazon” with family and others he’s close with for “some time.”

• Clark was reported last year to have sold his home in the Seattle area and moved to the Dallas area. The move raised eyebrows, but was brushed off by the company at the time as natural given his geographically diverse workforce.

• Clark received more than $67 million in Amazon stock as a special grant for his promotion to Consumer CEO, vesting between 2022 and 2027. Vesting of these grants typically requires continued employment at the company.

Read more, and stay tuned for updates.

Microsoft’s new approach to labor unions: Conceding that the rise of labor unions in tech may ultimately reach its own business, Microsoft released a new set of principles acknowledging the rights of its employees to organize, pledging to work constructively with any who do, and making it clear that it hopes they won’t feel the need. Read more.

A bid to buy the Portland Trail Blazers: The founder of Nike and a co-owner of the Los Angeles Dodgers have made a $2 billion offer to acquire the NBA team from the trust of late Microsoft co-founder Paul Allen. Read more. 

PNW startup fundings: 

• Chainguard raises $50M: Founded less than a year ago, the Kirkland, Wash.-based startup helps customers secure their “software supply chain.”

• RealWear lands $23.5M: The Vancouver, Wash.-based startup sells “assisted reality” smart devices used by frontline workers.

• ProfoundBio raises $70M: The company led by Seagen vets aims to advance two of its oncology drug candidates into clinical trial.