Business

Lawyers Note Changing Business Patterns Amid Pandemic

Published

5 years ago

February 5, 2021

As we approach a full year spent contending with the COVID-19 pandemic, many people are wondering about the impact of the virus on different industries. In response, we’ve seen plenty of coverage of restaurants and retail and even healthcare, but there are plenty of sectors that have received less coverage. For example, what’s currently happening in our country’s courtrooms and law offices? While certain issues have undoubtedly continued being adjudicated, including personal injury law services and criminal cases, the pandemic has significantly shifted other patterns.

Lawsuits In The Workplace

At the start of the pandemic, one of the biggest changes we saw on a national scale was the shift to remote work wherever possible. For those who couldn’t work from home, though, every day became uniquely risky, and many employers failed to act with their workers’ best interests in mind. The result was a spike in the number of workplace lawsuits, covering concerns ranging from failure to provide a safe work environment to discrimination, retaliation against whistleblowers, and wage and hour disputes caused by COVID-19 related work changes.

Decline In Divorces

While there may be a significant number of workplace lawsuits going on at present, there’s another core legal function that’s seen a significant decline: divorces. This may be surprising, given the interpersonal conflict the pandemic has caused, but it makes sense in other ways. Over the past year, both marriage and divorce rates have dropped largely because of inconvenience. Barring serious dangers like domestic violence, couples are contending with the reality that divorce is expensive and involves life transitions that are too hard to make right now.

Of course, the current depression in divorce rates is sure to be short lived, and may actually increase post-pandemic, a trend that was seen in China after their initial national shutdowns. Indeed, as divorce lawyer Rowdy Williams observes, “Divorce lawyers should expect to see a steady flow of clients in the months after the pandemic, especially once the economy begins to rebound.” People aren’t going to get divorced until they feel they have the financial resources to take care of things properly, and while Williams suggests we aren’t there yet, the spike could be coming soon.

Healthcare Suits

Healthcare providers have played an important role in our national survival throughout the COVID-19 pandemic, working on the frontlines of what has felt like a never-ending war, but they haven’t done it alone. Rather, doctors, nurses, and other healthcare workers like personal care assistants have operated in conjunction with insurance companies, who have changed numerous policies to accommodate new needs. Still, despite everyone’s hard work and most groups’ best efforts, not everything has gone as planned and the result is that insurers and nursing homes have been on the receiving end of numerous lawsuits.

Perhaps more than any other type of healthcare facility, nursing homes have been charged with a failure to protect their patients and staff, including through a failure to provide appropriate PPE and to test and isolate vulnerable patients. Even as the national death toll climbs above 400,000, more than a quarter of those can be linked to nursing homes and other long-term care facilities. Families are grieving and they are holding those facilities accountable for these untimely deaths.

We’re unlikely to be able to discern the full patterns underlying COVID-related lawsuits for some time, but already some trends are clear – and current demand, while different, can certainly keep lawyers busy. There are a lot of complaints to contend with at present as every industry deals with unprecedented conditions, but they all exist within the bounds of the law.

Business

Derik Fay and the Quiet Rise of a Fintech Dynasty: How a Relentless Visionary is Redefining the Future of Payments

Published

4 days ago

October 17, 2025

Matthew Wiles

Long before the headlines, before the Forbes features, and well before he became a respected fixture in boardrooms across the country, Derik Fay was a kid from Westerly, Rhode Island with little more than grit and audacity. Now, with a strategic footprint spanning more than 40 companies—including holdings in media, construction, real estate, pharma, fitness, and fintech—Fay’s influence is as diversified as it is deliberate. And his most recent move may be his boldest yet: the acquisition and co-ownership of Tycoon Payments, a fintech venture poised to disrupt an industry built on middlemen and outdated rules.

Where many entrepreneurs chase headlines, Fay chases legacy.

Rebuilding the Foundation of Fintech

In the saturated space of payment processors, Fay didn’t just want another transactional brand. He saw a broken system—one that labeled too many businesses as “high-risk,” denied them access, and overcharged them into silence. Tycoon Payments, under his stewardship, is rewriting that narrative from the ground up.

Instead of the all-too-common “fake processor” model, where companies act as brokers rather than actual underwriters, Tycoon Payments is being engineered to own the rails—integrating direct banking partnerships, custom risk modeling, and flexible support for underserved industries.

“Disruption isn’t about being loud,” Fay said in a private strategy session with advisors. “It’s about fixing what’s been ignored for too long. I don’t chase waves—I build the coastline.”

Quiet Power, Strategic Depth

Now 46 years old, Fay has evolved from scrappy gym owner to an empire builder, founding 3F Management as a private equity and venture vehicle to scale fast-growth businesses with staying power. His portfolio includes names like Bare Knuckle Fighting Championships, BIGG Pharma, Results Roofing, FayMs Films, and SalonPlex—but also dozens of companies that never make headlines. That’s by design.

Where others seek followers, Fay builds founders. Where most celebrate their exits, Fay reinvests in people.

While he often deflects conversations around his personal wealth, analysts estimate his net worth to exceed $100 million, with some placing it comfortably over $250 million, based on exits, real estate holdings, and the trajectory of his current ventures.

Yet unlike others in his tax bracket, Fay still answers cold DMs. He mentors rising entrepreneurs without cameras rolling. And he shows up—not just with capital, but with conviction.

A Mogul Grounded in Real Life

Outside of business, Fay remains committed to his role as a father and partner. He shares two daughters, Sophia Elena Fay and Isabella Roslyn Fay, and has been in a relationship with Shandra Phillips since 2021. He’s known for keeping his personal life private, but those close to him speak of a man who brings the same intention to parenting as he does to scaling multimillion-dollar ventures—focused, present, and consistent.

His physical stature—standing at 6′1″—matches his professional gravitas, but what’s more striking is his ability to operate with both discipline and empathy. Fay’s reputation among founders and CEOs is not just one of capital deployment, but emotional intelligence. As one partner noted, “He’s the kind of guy who will break down your pitch—and rebuild your belief in yourself in the same breath.”

The Tycoon Blueprint

The playbook Fay is writing at Tycoon Payments doesn’t just threaten incumbents—it reinvents the infrastructure. This isn’t another “fintech startup” with a flashy brand and no backend. It’s a strategically positioned venture with real underwriting power, cross-border ambitions, and a founder who understands how to scale quietly until the entire industry has to take notice.

In an age where so many entrepreneurs rely on noise and virality to build influence, Fay remains a master of what can only be called elite stealth. He doesn’t need the spotlight. But his impact casts a long shadow.

Conclusion: The Empire Expands

From Rhode Island beginnings to venture boardrooms, from gym owner to fintech force, Derik Fay continues to build not just businesses—but a blueprint. One rooted in resilience, innovation, and long-term infrastructure.

Tycoon Payments may be the latest chess piece. But the game he’s playing is bigger than one move. It’s a long game of strategic leverage, intentional legacy, and generational wealth.

And Fay is not just playing it. He’s redefining the rules.