Oct
26

Report: 81% of online retailers increase AI budget to boost holiday sales

Alphabet, Google's parent company, missed Wall Street's earnings expectations Monday, reporting a third-quarter profit that declined even farther than what analysts had forecast.A drop in the value of the company's investments weighed down its overall results.But Alphabet's bottom line was also hampered by its operating costs, which grew faster than its sales.The company's stock fell on the news.Visit Business Insider's homepage for more stories.

Google parent Alphabet fell far shy of Wall Street's earnings expectations on Monday as a decline in the value of its investments weighed heavily the bottom line, marring a quarter of solid sales growth in the company's advertising and cloud businesses.

A hefty $1.5 billion loss on the value of undisclosed equity investments took a toll on Alphabet's bottom line, overshadowing healthy revenue growth in mobile search advertising, YouTube advertising and sales in the Google cloud business.

Alphabet did not list which of its investments went south in the quarter. But the company invested in both Uber and Slack before they went public. Both companies have seen their stock prices decline since they debuted on the market earlier this year. 

Alphabet's shares dropped on the news. In after-hours trading following its report and a conference call with analysts, the company's stock was down $23.25, or 2%, to $1,266.75.

A strong showing in Google's Cloud

Alphabet posted a per-share profit of $10.12 in the third quarter, well below the $13.06 a share it recorded in the same period last year.  Analysts polled by Bloomberg were expecting the search giant's profit to dip from the year-ago period, but not nearly that far; they were looking for a per-share profit of $12.35.

Google's net revenue grew more than 21% during the third quarter, topping analyst expectations. And the company's "Other Revenues" category, which includes Google's cloud business, app sales in the Google Play Store, and hardware sales, increased by 39% year-over-year to account for roughly 16% of the company's total revenue. 

Here's what the internet giant reported and how that compared with analysts' expectations, where applicable, and Alphabet's year-earlier results:

Q3 net revenue (excluding traffic acquisition costs): $33.01 billion. Wall Street was looking for $32.7 billion. In the same period last year, Alphabet posted $27.2 billion in net sales.Q3 earnings per share: $10.12. Analysts had forecast $12.35 a share. In the third quarter last year, the company earned $13.06 per share.Q3 "other bets" revenue: $155 million. In the same period last year, the company's businesses other than Google brought in $146 million in sales.Q3 "other bets" operating loss: $941 million. In the third quarter a year ago, those non-Google businesses posted an operating loss of $727 million.Q3 Google capital expenditure: $7.3 billion. In the same period last year, the search business invested $5.6 billion on such items.Number of employees: 114,096. At the end of the third quarter last year, Alphabet had 94,372 employees. At the end of the second quarter, it had 107,646.Q4 net revenue (analysts' pre-report forecast): $38.4 billion. In the holiday period a year ago, Alphabet saw $31.7 billion in net sales.Q4 EPS (analysts pre-report forecast): $12.90. In last year's fourth quarter, the company earned $12.77 a share.

Alphabet's costs grew faster than sales

Alphabet's investments weren't the only thing hampering its bottom line. Rising costs also helped to depress its profits.

The company's overall operating costs rose to $31.3 billion. That was up nearly 25% from the $25.1 billion in operating costs Alphabet recorded in the same period last year.

By contrast, the company's net revenue grew 21% year-over-year.

Alphabet saw a particularly sharp rise in its general and administrative expenses. Those grew about 48% from the third quarter last year to $2.6 billion.

The surge in administrative expenses was due in large part to a deal Google announced last month with France to settle a tax dispute, Ruth Porat, Alphabet's chief financial officer, said on the conference call. Google agreed to pay France a $554 million fine as part of the settlement. Without that amount, Alphabet's general and administrative costs would have risen by just 16%.

But the company saw other costs rise faster than its sales growth. Both its cost of revenue — the expenses directly related to the products and services it offers — and its research and developments costs outpaced its revenues.

Alphabet's cost of revenues were largely driven by data-center related costs and depreciation, Porat said. Its research and development expenses, by contrast, were boosted by its hiring of new engineers, she said.

Analysts largely ignored regulatory and workplace troubles

Google — along with Facebook and Amazon — has been under regulatory scrutiny lately, as antitrust officials in Washington and within most of the states are scrutinizing its impact on competition. It's also been seeing growing tension with employees over its workplace culture and controversial projects, including a now-abandoned effort to develop a censored search engine for China.

But analysts largely ignored those topics during the call. Only one, Baird's Colin Sebastian, asked about the antitrust scrutiny, wondering if it might affect Alphabet's ability to innovate. Google CEO Sundar Pichai responded by saying that the company wanted and intended to continue to innovate and appeared to blame some of the scrutiny on Alphabet's rivals in its newer markets being afraid of competing with it.

There are "many new areas of opportunities available for us, and in many of these areas we are new entrant, and we create competition," Pichai said. "And sometimes the competitive pressures can lead to concerns from others."

The company's stock closed regular trading Monday up $24.87 a share, or about 2%, to $1,290.

Original author: Troy Wolverton

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Oct
28

Apple Music is down for some users (AAPL)

Many users are experiencing outages with Apple Music, and some cannot access the service at all, MacRumors first reported. At 1:30 pm ET, Apple Music's system status updated to confirm an issue with Apple Music, Radio, and Beats 1, saying "Some users may be experiencing issues with certain features of the music service."

Original author: Mary Meisenzahl

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Sep
08

LinkedIn founder Reid Hoffman defended a former MIT official who accepted donations from Jeffrey Epstein

WeWork was characterized as a "nonstop party" under ousted-CEO Adam Neumann, a company complete with raucous summer retreats and alcohol-fueled meetings.That party culture extended to the company's annual Halloween parties, with an extravagant event held in New York and other parties held in San Francisco, South Korea, and Israel.Photos and videos posted by both WeWork and attendees show people dancing to bumping electronic music, a cameo appearance from Rick Ross, and massive venues decked out in extravagant Halloween decor.A WeWork spokesperson said the company will not be holding a flagship Halloween party in New York this year. An Eventbrite listing shows WeWork holding a 90s-themed Halloween party in the Philippines.Visit Business Insider's homepage for more stories.

Around this time last year, WeWork was getting ready to host its annual Halloween party, a massive event in New York filled with loud electronic music and hundreds of people dressed in costume eyeing the open bar.

But after a disastrous two months in which the coworking company saw its IPO shelved, its CEO ousted and its control handed to SoftBank, it's no surprise that the company's Halloween celebration is the last thing on its mind. A WeWork spokesperson told Business Insider that the company is not holding its flagship Halloween party this year, although it's not clear when that decision was made.

WeWork employees have recounted tales to Business Insider about a culture, under former CEO Adam Neumann, that blurred the lines between work and play. Employees told stories of taking tequila shots at meetings and a wild summer retreat during which employees "could hear people audibly having sex in their tents all day and night."

That party culture extended to the company's Halloween parties, for which WeWork rented out concert venues, splurged on an open bar, and featured performances from popular DJs and Rick Ross.

Check out scenes from WeWork's wild Halloween parties over the years:

Original author: Paige Leskin

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Oct
28

How to gameshare on your Xbox One to share your Xbox Live account and game library with friends

The Xbox gaming console series is known for its gamesharing features. Gamesharing allows you and a friend to share each other's game libraries, as well as each other's Xbox Live Gold memberships, including Game Pass. It's a great way to play a wider array of games on a budget.

To take advantage of the Xbox One's game sharing features, you will need two Xbox One consoles. You will also need the login information for both your Xbox Live account and your game share partner's Xbox Live account.

Check out the products mentioned in this article:

Xbox One S (From 249.99 at Best Buy)

Xbox Live 12-month Gold Membership (From $59.99)

How to gameshare on an Xbox One

1. Turn on your Xbox One and sign in to your Xbox Live account.

2. Press the Xbox button and navigate to the far-left side of the menu. Select "Add new" and press the "A" button. 

You can add your friend's account in the same way you would add a family member's or roommate's account to an Xbox One that is shared by all members of your household. Chrissy Montelli/Business Insider

3. Using your controller, type in your friend's Xbox Live account information (email address, then password) and press "A" on your controller.

4. After you finish reading the privacy statement, select "Next" and press "A" on the controller, then follow the instructions on the next screen to set the preferences for your friend's account.

5. Press the Xbox button again and navigate to the far-left side of the menu. Select the account you just added and press "A" on the controller, select "Sign in," and press "A" again.

6. Press the Xbox button and navigate to the far-right side of the menu. Select "Settings" and press "A" on the controller. 

7. On the next screen, select "Personalization," then select "My home Xbox" and press "A." 

8. Select "Make this my home Xbox" and press A again. 

Adjusting the settings for your home Xbox is the key to gamesharing successfully. You can add your friend's account to your Xbox One, but you won't be able to gameshare until you set up your Xbox One as your friend's home Xbox, and vice versa. Chrissy Montelli/Business Insider

9. Repeat these steps, only this time, add your Xbox Live account information to your friend's Xbox One, and set their Xbox One as your home Xbox.

Once you have added each other's accounts to your respective Xbox One consoles and properly set up your corresponding home Xboxes, you should be able to access each other's game Libraries and Xbox Live Gold perks.

Tips for gamesharing

Gamesharing is limited to two people at a time, so you won't be able to add another person into the mix unless you stop game sharing with your original gameshare partner.Only gameshare with someone you trust. Your account information is sensitive, and you don't want it to end up in the hands of someone who might use it for nefarious purposes.Gamesharing only works with digital copies of games. Unfortunately, you can't gameshare with physical copies, because they can only be used with one Xbox One at a time.
Original author: Chrissy Montelli

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Jun
10

Pitch us, Pittsburgh

Airbnb is letting guests meet animal celebrities after extending its housing options in 2016 to include tourism experiences with locals.For an extra $50 to $150, Airbnb's new Animal Experiences program lets guests go on adventures with one of Instagram's most famous cats, a pack of nine rescue dogs, heroic cows Brianna and Winter, and other animals of Internet stardom.Guests might recognize some of these animals from media brand The Dodo, which is picking 50 of these experiences for Airbnb. Visit Business Insider's homepage for more stories.

With 4.2 million followers, Nala is described as one of the most Instagram-famous cats, and now, Airbnb guests can meet her along with other online animal sensations.

Airbnb launched its Experiences in 2016 as a way for guests to explore new places with locals, and it just expanded those options to animals.

The Animal Experiences option includes over 1,000 trips with more than 300 species. People hosting these experiences have to comply with Airbnb's animal welfare policy, head of Animal Experiences Mikel Freemon told Business Insider.

Airbnb worked with The Dodo, a Group Nine Media brand that tells stories about animals and has shown dedication to animal welfare, to design 50 of the experiences.

The Dodo helped Airbnb put together activities that are enjoyable for guests and humane for the animals, Dodo president YuJung Kim said. 

It wasn't easy, though, since cats tend to be indoor creatures. In the case of Nala, her owner came up with the idea of having guests visit Nala's kitchen, the California factory where her cat food line called Love, Nala is made. Guests can meet Nala, watch her sample her pet food, get selfies of her and take home gift bags for their own cats. 

Penni Dog, the pitbull who stars in The Dodo series "Pittie Nation" and has over 47,000 followers on Instagram, presented the opposite problem: A former rescue dog, she prefers outdoor activities like rock climbing and ziplining, so the solution was to offer Airbnb guests a hike to one of her favorite hot springs in Nevada.

"When her human dad adopted her she was very scared," Kim said. "She had been through a lot and was generally very introverted and very skittish, so as a way of making her feel more confident they started going on hikes together."

Other Dodo-designed Animal Experiences for Airbnb are a picnic with pig and dog duo Pickles and Dill who have 100,000 Instagram followers; a safari with cow Brianna who once survived a fall from a transport truck while pregnant; and a day filled with nine rescue dogs inspired by The Dodo series "Ruff Life with Lee Asher."

The animal experiences cost guests an extra $50 to $150 per person. The companies share revenue from the trips.

Original author: Alyssa Meyers

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Oct
28

New deep reinforcement learning technique helps AI to evolve

Bill Gates turned 64 on Monday.The author interviewed Gates for Business Insider in 2016.Gates displayed vast knowledge.And he showed how to combine different themes to arrive at takeaways.This is part of what it means to be an expert generalist.Click here for more BI Prime stories.

I had 20 minutes, to the second, to interview Bill Gates.

This was in spring 2016, and he was in New York for the press rounds supporting his Annual Letter for the Gates Foundation, which was centered around clean energy. 

It was at 2 p.m. when I met him in a superlux midtown Manhattan hotel. I shook hands with Gates and a handler who would be tracking the time.

In person, he was much like you'd imagine from the endless reports on him: appreciably geeky, pleasantly courteous, and intensely intelligent.

When he spoke, Gates made broad gestures with his hands, seemingly sculpting clean-energy solutions with his hands while reeling off global development statistics, like how tiny China's philanthropic class is (under 0.1% of the overall economy), how huge the energy market is ($3 trillion a year), and how humanity went from 33% of children dying by age 5 to below 5%.

That was what was so spectacular about talking to the man, now freshly 64 years old. He has an encyclopedic knowledge of so many things, appropriate for a guy who plowed through the entirety of "World Book Encyclopedia" as a teen, and he holds in mind the way fields interact with one another. 

Let's consider, in its lengthy entirety, his response to my first question, "What are the most exciting things happening right now in clean energy?"

His reply: 

A lot of it is pretty early stage. The most straightforward path would be if we could bring the cost of solar electric and wind down by another factor of say, three, and then have some miraculous storage solution, so that not only over the 24-hour day but over long periods of time where the wind doesn't blow, you have reliable energy. That's a path. But energy storage is hard. That's not a guaranteed path.

In fact, batteries haven't improved over the last 100 years as much as they would need to in order to make that happen. So I'm invested in a lot of battery companies — and there's a lot that exists I'm not in. They're all having a tough time achieving it. We need to look at less obvious paths, things like the wind in the jet stream, which is very high up. The material science of what type of kite string you would need to connect up to that. That's still at the basic research level.

That's the part where the governments have a unique role, and then when it progresses well enough, then existing companies or new startup companies should take it. In the $3 trillion a year energy market, the rewards will be quite fantastic.

At some point, that risk-taking private capital can take over, and have patents and trade secrets and things that let them lead the way, which happened with the steam engine and some other things. Although with energy, the time of adoption is a lot longer than it is with, say, IT products or even medical advances, like drugs and vaccines.

Other paths would include making nuclear fission cheap enough and safe enough that people broadly embrace it, so that could be scaled up. Or, if you really could take the CO2, when you burn hydrocarbons — coal, for example — if you could really capture the carbon and sequester it, they call it CCS, if the extra capital cost, energy cost, and storage costs over time didn't make it super expensive, then that's another path that you could go down.

I could name about a dozen paths, and you'd like to have a whole bunch of research on all those paths, and then, eventually, at least four to five companies with really significant financing try and get to big scale, going down and really trying to prove it out.

Then, in the same way that when the car got going, people thought it would be an electric car; people thought it would be a steam car. Actually, the dark horse in that race was internal combustion, but because of the energy density of gasoline and discovery of oil in large amounts at that point, in first Pennsylvania and then Texas, it won out over those other two, to the point that those other two are actually viewed as obscure footnotes in history.

The first thing you notice is that those are ready-to-be published paragraphs coming out of his mouth; it's a Sunday op-ed coming off the top of his head. But consider the many threads interwoven in his comment, which reveal one of the unique forms of genius he has.

First, Gates runs through the state of energy storage, which has lots of potential but is very hard to pull off. (The national capacity has quadrupled over the past five years, however.) Then battery technology. Then the role of government in innovation, and with that, private capital. Then nuclear fission. Then carbon capture. Then how that new market would begin to mature.

And then, the bit I find especially charming, regarding the intellectual humility needed in a revolution, since you don't know how a revolution is going to pan out. People thought the electric car was going to be the killer app, and then the steam car, and gasoline was the actual dark horse. And that itself was powered by the discovery of oil in Pennsylvania and Texas. So, adding to the state of many arts in the technological race for clean energy, Gates delivered a bite-size lesson in how technological shifts actually happen and the nature of innovation. 

That brings us back to the encyclopedias that Gates gobbled up as a Seattle-area adolescent. The word "encyclopedia" has a rather poetic etymology, "enkuklios paideia," or all-around education. This is what Gates displays in conversation, a stunning understanding of how everything relates to everything else. 

Gates is the billionaire version of what the University of Texas psychologist Art Markman calls an "expert generalist." Someone who doesn't just know a little about a lot but a lot about a lot — like Picasso getting into African art and initiating cubism. Gates has studied energy and materials and public health and a thousand other things. He is such an evangelist of intersectional knowledge that he's pushed the discipline of "Big History," which seeks to tell "the story of the universe from the big bang to the first signs of life to today's complex societies," according to a 2018 Gates blog post. 

Thanks to Gates and his peers, we live in a world of information, as the cliché goes. You can ask Siri or Alexa for just about any particular fact, and they'll give it to you without you even needing to look at your phone. But what Gates has is more powerful than information — he possesses knowledge, a breadth of it. 

Research on learning suggests that the more you know, the easier it is to find and retain new knowledge, in a process called elaboration — you're tying the new thing to what you already know. So if you already have a ton of nodes to tie things to, it'll probably be easier to get new insights about material science, or whatever, to actually stick. It's compounding interest but for knowing stuff.  

"The more you learn," Gates said in another profile, "the more you have a framework that the knowledge fits into."

This post extensively expands on an earlier piece.

Original author: Drake Baer

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Oct
28

Netflix confirms it's testing a feature that allows users to speed up TV shows, and some directors are already complaining

Netflix confirmed to Business Insider on Monday that it's testing a variable playback feature on mobile devices that allows users to speed up or slow down TV shows."We're always experimenting with new ways to help members use Netflix," a Netflix spokesperson told Business Insider. "This test makes it possible to vary the speed at which people watch shows on their mobiles. As with any test, it may not become a permanent feature on Netflix."Android Police first reported that Netflix was testing playback speeds on Android phones last week.Visit Business Insider's homepage for more stories.

Netflix confirmed that it's testing a variable playback feature on Android mobile devices, which allows users to speed up or slow down TV shows.

"We're always experimenting with new ways to help members use Netflix," a Netflix spokesperson told Business Insider on Monday. "This test makes it possible to vary the speed at which people watch shows on their mobiles. As with any test, it may not become a permanent feature on Netflix."

Android Police first reported on Thursday that Netflix was testing playback speeds on Android phones and noted two tweets from users indicating such. Netflix clarified to Business Insider that the feature is only being tested on Android devices.

Users who receive the feature will be able to slow down the speed of a show to 0.5x or 0.75x, or raise it to 1.25x or 1.5x, according to Android Police.

Some filmmakers are already speaking out against the limited test run on Twitter. "The 40-Year-Old Virgin" director Judd Apatow tweeted on Monday, "Don't make me have to call every director and show creator on Earth to fight you on this. Save me the time."

"The Incredibles" director Brad Bird tweeted that the feature was "another spectacularly bad idea, and another cut to the already bleeding-out cinema experience."

Original author: Travis Clark

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Jun
10

After 30 years, ‘Crossing the Chasm’ is due for a refresh

Hundreds of Facebook employees are asking the company to change its policies on political ads, according to an internal letter obtained by The New York Times.The social network currently refuses to fact-check ads from politicians, allowing them to lie with impunity.250 employees signed on to an internal open letter calling for this to end and for Facebook to make a series of other changes.Facebook's polices on political ads are proving intensely controversial, in particular with Democrats.

Hundreds of Facebook employees are petitioning CEO Mark Zuckerberg to change the company's divisive rules on political advertising that allow politicians to lie with impunity.

On Monday, The New York Times' Mike Isaac reported that more than 250 workers at the Silicon Valley social networking giant have signed an internal letter calling on the company's leadership to change course on its stance on political ads, which has become the latest political firestorm to engulf the company.

"Free speech and paid speech are not the same thing," the letter reads, according to a copy of it published by the NYT. "Misinformation affects us all. Our current policies on fact checking people in political office, or those running for office, are a threat to what FB stands for. We strongly object to this policy as it stands. It doesn't protect voices, but instead allows politicians to weaponize our platform by targeting people who believe that content posted by political figures is trustworthy."

In October, Facebook decided to exempt politicians' advertisements from its broader rules that ban falsehoods in ads — effectively giving the all-clear to politicians to spread deliberate falsehoods on Facebook's advertising platform without repercussions. The decision has proved intensely controversial, with Democrats warning that it could impact the 2020 election, even as Zuckerberg defends the position on free speech grounds.

But not all of the 34-year-old billionaire chief executive's employees agree with him.

In the open letter, which was published on Facebook's internal forum Workplace, the Facebook employees made six key requests. These are:

Facebook should ban false political ads, like it does with other, non-political ads.Political ads should be more clearly distinguished in Facebook's newsfeed from normal (non-paid) content.The targeting tools for political ads on Facebook should be restricted.Facebook should observe "election silence periods."Politicians should have spending caps on the amount of political ads they can run.Policies on political ads should be clarified (regardless of any changes) to make them easier for users to understand.

In an emailed statement, Facebook spokesperson Bertie Thomson told Business Insider that the company welcomed the employee input.

"Facebook's culture is built on openness so we appreciate our employees voicing their thoughts on this important topic. We remain committed to not censoring political speech, and will continue exploring additional steps we can take to bring increased transparency to political ads," she wrote.

Do you work at Facebook? Got a tip? Contact this reporter via encrypted messaging app Signal at +1 (650) 636-6268 using a non-work phone, email at This email address is being protected from spambots. You need JavaScript enabled to view it., Telegram or WeChat at robaeprice, or Twitter DM at @robaeprice. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.

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Original author: Rob Price

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Mar
15

A historic California building that has been a restaurant, a home, and a setting for ghost stories is on the market for $3 million— see inside

Sourcing ingredients in the restaurant industry is a dirty process that still relies heavily on voicemails and fax orders. More tech-forward solutions have been pushed, but getting restaurants and suppliers to uniformly sign on to a platform has been a relatively daunting challenge.

Choco is a young startup with plenty of momentum that’s aiming to attract restaurants and suppliers to their mobile ordering platform, which gives restaurants their very own food delivery app for getting ingredients from suppliers, moving them away from daily voicemail orders.

“[Leaving voicemails] a very tedious process and one that’s very prone to error but [restaurants] are going to repeat it every day,” Choco CEO Daniel Khachab tells TechCrunch. “This ‘system’ is highly inefficient and wasteful, but it’s our main competitor.”

Choco’s mobile app has an interface reminiscent of popular consumer apps, with a Messenger-like chat interface for communication between suppliers and restaurants and a Postmates-like ordering list that makes ordering as easy as tapping away on one’s commonly purchased ingredients.

There’s a big opportunity here, and Khachab has been growing the Choco team at breakneck speeds to ensure that it is the solution to beat. The 18-month-old team has 100 employees already and is announcing that they’ve closed a $33.5 million Series A led by Bessemer Venture Partners . By the end of next year the company hopes to grow its business by 15x.

Choco is in 15 cities across Europe and the U.S. and says their early customers include everyone from Michelin-starred restaurants to burger chains. The company has now raised $41 million to date. Other investors include Atlantic Labs, Target Global, Visionaries Club and Greyhound.

As the company seeks to build up a user base among suppliers and restaurants keen to build out their networks, Choco currently isn’t monetizing its users. Khachab tells me the team is developing premium subscription features that will likely focus on monetizing suppliers’ abilities to reach restaurants and communicate with them about new offerings.

Khachab sees Choco’s solutions as one that makes restaurant/suppliers relationships better but also takes a step toward solving the broader problem of food waste in the restaurant industry. Better communication and analytics that aren’t on the back of a napkin mean more precise ordering that can prevent both sides from overstocking, increasing efficiency but also preserving resources. Khachab notes that estimates say that 30-40% of food produced each year is wasted and that nearly three-quarters of that waste happens in the supply chain before consumers are involved.

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Oct
28

Texas tech workers targeted by Bay Area firms over abortion ban

In 2017, when a destructive earthquake struck Puebla, Mexico, sending shock waves to Mexico City and destroying buildings in the nation’s megalopolis and its surrounding suburbs, both public and private emergency services sprung into action.

For multinational corporations operating in the city it was a test of their internal support services, which were established to meet the “duty of care” requirements that multinationals have to their foreign employees. That’s a minimum threshold which companies must meet to ensure the safety of their employees.

After the Mexico City earthquake, at least one Fortune 500 insurance company found its services lacking. It took two weeks for the company to contact all of its employees and account for everyone.

So the company turned to a new Washington-based startup called Base Operations to see if they could do a better job.

Founded by a former security and risk management consultant, Cory Siskind, Base Operations uses a suite of hosted software services and mobile applications to provide security updates to corporate customers and their employees.

The insurance company tested Base Operations’ check-in feature to see how it would perform in a simulated natural disaster and Siskind said that Base Operations had identified the location of 80% of the company’s workforce in less than two days. More than half of the company’s employees checked in within the first 24 hours.

Base Operations offers a dashboard for corporate customers to monitor their employees’ locations and for staff traveling abroad, the company has an app that provides geo-tagged alerts on potential risks based on an individual’s location.

“This is a compliance situation for companies… They have to do it,” says Siskind. “We work with a company’s chief security officers and travel security. If you send people off into an emerging market with a risk PDF… It’s not dynamic information and it just sits in a report and nobody reads it.”

Companies with a sales or marketing team traveling around need to have some sort of tool to meet their compliance regulations and duty of care standards, says Siskind.

“We have a whole set of features that nudge towards safer behaviors so that you don’t end up getting mugged and so that you don’t end up in a situation that would be damaging to you,” she says. 

Siskind recently raised $1 million for Base Operations from investors including Glasswing Ventures, Spiro Ventures, the Latin American early-stage investment firm Magma Partners and Good Growth Capital. Base Operations graduated from Techstars Impact Accelerator in 2018.

The money from the company’s most recent round will be used to expand the company’s sales and marketing efforts and continue its research and development.

So far, the company has three customers, including the undisclosed insurance provider, the energy company Enel and another, yet unnamed, corporation.

Base Operations provides its services in 15 cities, including: Mexico City, São Paulo, Rio de Janeiro, Buenos Aires, Santiago, San Juan (Puerto Rico) and San Jose (Costa Rica).

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Oct
28

Facebook stops just short of rebranding to ‘The Web’

Building effective propulsion systems for satellites has traditionally been a highly bespoke affair, with expensive, one-off systems tailor-made to big, expensive spacecraft hardware. But increasingly, companies, including startups, are looking at ways to provide propulsion tech that can scale with the projected boom in demand for orbital satellites, including CubeSats and small sats, as the commercialization of space and advances in sensor, communication and launch technology broaden the scope of those working in this bold new frontier.

Morpheus Space, which began life as a research project at the University of Western Germany, has accomplished a lot when it comes to propulsion in the short time since its official founding around a year and a half ago. The Dresden-based startup already has sent some of its thrusters to space, where they’re actually providing propulsion, and it’s working with a number of clients and potential clients, including NASA’s Jet Propulsion Laboratory. The startup also just wrapped up its participation in Techstars’ inaugural Starburst Space Program in LA.

“Our motivation behind starting Morpheus Space was the lack of maneuverability of, especially small satellites in space,” explained Morpheus CEO and co-founder Daniel Bock, with whom I spoke at last week’s International Astronautical Congress in Washington, D.C. “We have around 2,000 active satellites in space, and in the next few years this will increase by 10x. We have to deal with that. So the first step in how we want to solve that is with our proportion systems, to give mobility to small satellites.”

The startup has seen a ton of inbound interest, and has even had conversations with the CTO of NASA and the CEO of Aerospace Corporation based on the strength of its technology. But what’s so special about what they’re doing, versus what has already been available for satellite propulsion? Put simply, “it’s the world’s smallest and most efficient propulsion system,” according to Morpheus Space co-founder István Lőrincz.

A single Morpheus NanoFEEP thruster propulsion system

Morpheus’ thruster uses gallium as its fuel source, which allows it to be very efficient, with an operating linespace of up to three or more years — non-stop, Lőrincz told me. When you factor in the low cost of these thrusters versus other solutions, and the ability to make them incredibly small (one thruster, along with electronics, is not that much larger than your average USB charger), you get a product that’s tailor-made for the cost-sensitive emerging new space industry. Ensuring the mass of these thrusters is small pays off big dividends when it comes to thinking about launch costs, and the fact that these are “Lego-like” in their modularity means they can suit a variety of different clients’ needs.

“You can build propulsion systems for satellites that are below one kilogram, up to those the size of trucks, just by creating arrays,” Lőrincz says.

An example of a Morpheus multi-thruster array used in a 3U-sized small satellite

Size is important, but so is scalability, and that’s another strength that the Morpheus thrusters bring to the market. Lőrincz told me that their technology allows you to quickly and easily build a large batch of the thrusters, instead of having to tailor-make your propulsion system to fit the satellite, which provides big benefits in terms of manufacturing and design costs — which Morpheus can then pass on to its customers, opening up to a whole new, much more price-sensitive segment of the market the possibility of including true orbital maneuvering capabilities.

Next up for Morpheus Space, after it gets its hardware business fully up and running, is to develop and deploy software that complements its thrusters and can offer clients things like fully automated route planning and navigation, Bock told me.

“For example, you can imagine you just have to command ‘Okay I want to go from A to B,’ and everything is handled on board,” he said. So when and how you turn, all the routing. And the next step will be an automated way of handling whole constellations.”

It’s a big goal, but there’s a big potential pay-off. More and more companies are getting into the constellation game, including SpaceX and Amazon, and there’s a lot more to come on that front as companies build out new use cases for collecting and making use of data gathered from orbit. Orbital traffic management and collision avoidance is one reason big industry groups like the Space Safety Coalition are being formed, and anyone who can help supply with a solution players at all budget levels of the industry stands to benefit.

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Sep
10

Stunning images of the New York City skyline every year on 9/11

Identity Verification-as-a-Service (“IVAAS”?!) is a pretty tortuous phrase. But it’s now established as a key tech area for the tech industry as startups like Onfido, Jumio and others have proved with large funding raises in the last few years. Verifying ID is now also a key part of the gig economy.

Joining them today is a German startup that first emerged in 2014. It has announced a $40 million growth equity investment from Corsair Capital LLC, a private equity firm focused on the financial and business services industries.

IDnow lets consumers verify their identity online, using their smartphone, tablet or webcam via image recognition of their ID document.

Andreas Bodczek, CEO of IDnow, commented: “IDnow is well-positioned to capture greater market share in Europe and beyond, as we continue to lead the way in the growing digital identity verification space.”

Raja Hadji-Touma, partner at Corsair Capital, said: “Our investment is the result of a thematic focus on businesses that address new requirements arising from the digitalization of many financial transactions and processes, such as security. ”

Following the closing of the transaction, Raja Hadji-Touma and Edward Wertheim, principal at Corsair, will join the IDnow board of directors.

IDnow was the first startup to come out of JET A, the holding company set up by the former founder of Amiando, Felix Haas, (who is also co-founder and executive chairman) and his Amiando co-founders, Sebastian Baerhold, Dennis von Ferenczy and Armin Bauer.

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Oct
28

Less than 2 weeks left for early-bird savings to Disrupt Berlin 2019

Entrepreneurs, founders, investors and all startup fans in between — take heed. The days for saving serious dough on tickets to Disrupt Berlin 2019 are seriously numbered. Right now, early-bird pricing starts at €445 + VAT and, depending on the type of pass you purchase, you can save up to €500.

But this bird takes flight for parts unknown on 8 November at 11:59 p.m. (CEST). Get serious, beat the deadline and save. Buy your early-bird pass to Disrupt Berlin.

Now that you have your pass, you can start planning how to take in as much of Disrupt Berlin as possible. Two programming-packed days will keep you engaged and on the move — check out the agenda to find out all the knowledge that will be dropped. They’ve done the work, reaped the rewards and they’ll be on hand to share their hard-won experiences and insight on crucial topics facing startups.

Speaking of crucial topics, Brexit is the 800-pound gorilla in the room. We’re thrilled to have three experts take the Main Stage to share their up-close-and-personal experiences. Don’t miss hearing from Bindi Karia, an investor with deep ties to Europe; Glenn Shoosmith, a founder who’s expanding his startup internationally; and Volker Hirsch, a VC born in Germany but currently living in the U.K. All three will examine the Brexit landscape and discuss how to make the right decisions in the face of chaotic obstacles.

Be sure to experience the glory that is Startup Battlefield. Cheer on 15-20 outstanding startups as they pitch and demo their creation to a discerning panel of veteran VCs and technologists. Who will claim the Disrupt cup and win the $50,000 prize? Be in the room where future unicorns are born.

One of the best ways to save time at Disrupt — and connect with the people who share your interests and goals — is to network using CrunchMatch. Our free business match-making service takes the hassle out of finding and meeting with the right people.

And one of the best places to connect is Startup Alley, our exhibition floor. That’s where you’ll find hundreds of early-stage startups displaying their tech and talent. Whether you’re a founder, investor, engineer or startupper of a different stripe, you’ll find potential customers, funders, collaborators — you name it. Startup Alley is a networker’s paradise.

There’s plenty more we could mention in detail: The Hackathon, Q&A Sessions, workshops. Bottom line? You’ll find nothing but opportunity at Disrupt Berlin 2019 on 11-12 December. But it’s time to get serious. Buy your early-bird pass before 8 November at 11:59 p.m. (CEST), and all that opportunity will cost you a whole lot less.

Is your company interested in sponsoring or exhibiting at Disrupt Berlin 2019? Contact our sponsorship sales team by filling out this form.

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Oct
28

Kandji announces $3.375M seed for sophisticated Apple MDM solution

Kandji, a new Apple MDM solution that promises to go far beyond Apple’s base MDM protocol and other solutions on the market, emerged from stealth today with a $3.375 million seed investment. The product is also publicly available for the first time starting today.

The round, which closed in March, was led by First Round Capital with help from Webb Investment Network, Lee Fixel, John Glynn and other unnamed investors.

Company co-founder and CEO Adam Pettit says the company’s founders have a deep knowledge in Apple. They all worked at Apple before leaving to run an Apple IT consultancy for more than 10 years.

He said that while they were at the consultancy, they developed a proprietary stack of tools to help with highly sophisticated Apple device deployments at large organizations, and it occurred to them that there was an unserved market opportunity to turn that knowledge into a new product.

Two years ago they sold the consultancy, took that knowledge and built Kandji from the ground up. Pettit says the new product gives customers access to a set of management tools that they would have charged six figures to implement at that their old firm.

One of the key differentiators between Kandji and other MDM solutions, or even Apple’s base MDM functionality, is a set of one-click compliance tools. “We’re the only product that has almost 200 of these one-click policy frameworks we call parameters. So an organization can go in and browse by compliance framework, or we have pre-built templates for companies that don’t necessarily have a specific compliance mandate in mind,” he said.

The parameters have all of the tools built-in to automatically deploy a set of policies related to a given compliance framework without having to go through and manually set all of those different switches yourself. On the flip side, if you want to get granular and create your own parameters, you can do that too.

He says one of the reasons he and his partners were willing to give up the big-dollar consultancy was because they saw a huge opportunity for firms that couldn’t afford those kind of services, but still had relatively large Apple device deployments. “I mean there’s a big need outside of just the specific kind of sophisticated compliance work we would do [at our previous firm]. We saw this big need in general for an Apple MDM solution like ours,” he said.

After selling their previous firm, the founders bootstrapped for a year while they developed the initial version of Kandji before seeking funding. Today, the company has 16 employees and a set of initial customers that have been testing the product.

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Jun
12

Thought Leaders in Financial Technology: Luvleen Sidhu, President of BankMobile (Part 2) - Sramana Mitra

Searchable.ai wants to solve an old problem around search in the enterprise. The stealthy startup announced a $2 million seed round.

Defy Partners led the round with a slew of other participants, including Paul English, co-founder of Kayak; Wayne Chang, co-founder of Crashlytics; Brian Halligan, co-founder and CEO of HubSpot; Jonathan Kraft, president and COO of the Kraft Group and the New England Patriots; MIT Prof. Edward Roberts; Eric Dobkin, founder and chairman emeritus of Goldman Sachs Global Equity Capital Markets; and Susquehanna International Group.

The prestigious group of investors saw that Searchable.ai is trying to solve a big problem around findability. Company co-founder Brian Shin says that knowledge workers have been struggling for years trying to find a way to better utilize all of the information that exists within an organization.

“The problem we’re really solving is that there are a trillion documents created every year in Microsoft Office, Google Docs, etc., and it’s really difficult if you’re a knowledge worker to find what you need in terms of either a document, an asset like a slide or worksheet within a document or the actual answer to a question that you have,” Shin said.

The questioning part could be particularly valuable because it lets you ask a natural language question and find a specific piece of information within a document, rather than just the document itself. “Let’s say you have a giant spreadsheet, you could actually ask a question of all your spreadsheets and find the atomic unit of knowledge that you’re actually looking for,” he said.

The product itself is not quite ready for the big reveal, but if it works as described, it will be a huge boost to knowledge workers who have continually struggled to find a nugget of information they know is out there across the myriad documents in an organization.

Shin is an experienced entrepreneur who has helped launch and sell three companies. He reports he has raised $100 million in venture capital and most recently has worked as a venture capitalist himself, but he saw this opportunity and decided to jump back into the development side of things.

He admits he’s giving up a lot to go back to the startup lifestyle, but he and his co-founders decided this was worth it. “You know the draw, the compulsion to do another startup is is really what this is about. So my three other colleagues and I have have all started companies before and we’re all giving up big jobs to do this, and I’m so excited about the team and the massive opportunity.”

He promised more details about the company and the solution would be coming early next year.

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Oct
28

Amazon’s Faster Shipping Hurting its Earnings - Sramana Mitra

It was a surprising quarter for Amazon (NASDAQ: AMZN). For the first time in more than two years, the company saw its earnings fall. The market was clearly not impressed, and the stock fell 7% in the...

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Original author: MitraSramana

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Nov
08

Every startup is a bank — or wants to be

Veronica Chou’s family has made its fortune at the forefront of the fast fashion business through investments in companies like Michael Kors and Tommy Hilfiger . But now, the heiress to an estimated $2.1 billion fortune is launching her own company, Everybody & Everyone, to prove that the fashion industry can be both environmentally sustainable and profitable.

There’s no argument about the negative impacts of the fashion industry on the environment.

The textiles industry primarily uses non-renewable resources — on the order of 98 million tons per year. That includes the oil to make synthetic fibers, fertilizers to grow cotton and toxic chemicals to dye, treat and produce the textiles used to make clothes. The greenhouse gas footprint from textiles production was roughly 1.2 billion tons of CO2 equivalent in 2015 — more than all international flights and maritime shipments combined (and a lot of those maritime shipments and international flights were hauling clothes).

The litany of catastrophes that can be attributed to the clothing industry extends to pollution, as well. About 20% of industrial water pollution globally can be traced to the dyeing and treatment of textiles — and microplastics from polyester, acrylic and nylon are polluting the world’s oceans.

Meanwhile, the rise of fast fashion has encouraged consumers to accelerate waste. Roughly one garbage truck full of clothes is landfilled around the world every second, according to a 2017 report from the Ellen MacArthur Foundation. That means consumers are throwing away around $400 billion worth of valuable goods every year as low prices and more “seasons” create an illusion of disposability.

Image courtesy of World Resources Institute

As the fashion business has expanded, so has the wealth of the Chou family. South Ocean Knitters, the knitwear manufacturer started by Chou’s grandfather, was responsible for one of the first foreign investments into mainland China in 1974. It is now one of the largest suppliers of knitwear in the world, and, together with the Hong Kong manufacturer Li & Fung, is behind the Cobalt Fashion Holding conglomerate.

And her father, Silas Chou, made millions as an investor in Michael Kors and Tommy Hilfiger. As an executive at Iconix Brand Group China, Veronica Chou played a role in the acceleration of the industry — bringing American brands to Chinese consumers. Chou also served as the co-founder of the Beijing-based private equity fund China Consumer Capital and as a director of Karl Lagerfeld Greater China.

For Chou, an understanding of the environmental toll that the family business was taking on the planet began six years ago — a few years before Iconix Brand Group acquired the China subsidiary she had co-founded with her father in a transaction reportedly worth $56 million.

It was around the time that Chou had her children, she says, that she realized the importance of making a brand that was both environmentally sustainable and inclusive.

“It was six years ago I started learning about sustainability and five years ago that I said that I needed to have a sustainable brand,” says Chou. 

Since that revelation, Chou dove into the world of sustainable manufacturing head-first. Through her family’s investment vehicles she has worked with companies like Modern Meadow, which uses bio-engineering to make leather goods in a lab. Chou has also led investments in Thousand Fell, a soon-to-launch manufacturer of fully recyclable shoes; Dirty Labs, which is developing more sustainable laundry cleaning products; and Carbon Engineering, which is developing a direct air capture technology for carbon dioxide.

Everybody & Everyone applies the lessons that Chou has learned about sustainability to a new fashion brand that she hopes can serve as a model for how to weave sustainability into every facet of the industry.

The new brand, which sells women’s clothes for every size from 00 to 24 and at prices ranging from $18 to $288 (most fall in the $50 to $150 range, given a quick scroll through the company’s new website) partners with companies like Naadam and Ecoalf for sustainable cashmere and recycled fabrics made from plastic.

“For our brand, recycled is a big story for us,” says Chou. “Our t-shirts, our socks, our packaging, our mailers, our labels, our stickers are all made from recycled materials that can be recycled again.”

The company’s attention to its environmental impact also extends to its supply chain. “Most of our fabrics are knit close to where our garments are manufactured. That is definitely reducing our carbon footprint,” says Chou. “I put an emphasis on having factories in America… our denim is manufactured in America and in the future we’re looking at t-shirts and athletics to be manufactured in America.”

Some clothes are also made with fabrics that have recycled silver in them — so that the clothes can be worn multiple times without smelling or the need for a wash. 

Digital printing is used in place of screens to prevent tons of water waste, the company said, and several of the company’s fabrics are not dyed at all. instead, the company relies on an upcycling process by separating recycled fibers mechanically by color.

Everybody & Everyone has also partnered with the organization One Tree Planted to plant a tree for each purchase that’s made with the company. In addition, the company has calculated its carbon footprint from all of its pre-launch activities and has bought and retired offsets to balance its emissions, Chou says.

“I started building Everybody & Everyone from the ground-up, first by getting the best team in place then by finding the right vendors, manufacturers and partners who were already making strides in the sustainability space,” Chou said in a statement. “I wanted this brand to be for every woman, so body positivity, inclusivity and sustainability were going to be the backbone of everything we did. We then constructed the brands sustainable & technical pillars, which consist of activation, recycled, dyeing & printing, naturals done better, bio-based fibers and end use to ensure our products would minimize negative impacts. We are sustainable down to the labels sewn into each garment.”

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Oct
28

Attending Disrupt Berlin? Have top investors critique your pitch deck onstage

Having trouble pitching your startup to investors? This year at Disrupt Berlin, we’re going to help you solve that problem. We’ve invited a panel of experts to tear down real pitch decks live onstage, to help any founder in the room learn about the right way to tell a startup’s story.

If you’re attending, you can apply to have your pitch deck chosen for the stage — just fill out this form.

We had a packed house for the first teardown we did, at Disrupt SF this year. We’re excited to bring it to you. Investors onstage will include Sitar Teli, a London-based co-founder and managing partner at Connect Ventures, who has helped make more than 40 investments across Europe, including Fiit, Kheiron, Citymapper, Typeform, OurPath and Soldo, and Karen Stafford, a Berlin-based director at Intel Capital who focuses on European startups and has invested in companies including iZettle, dataArtisans, Elmodis and Volocopter.

Also joining us will be Russ Heddleston, the founder and CEO of San Francisco-based DocSend, a document management company that helps thousands of founders in Silicon Valley and around the world track things like how investors are responding to their decks. By collaborating with his users, Heddleston and his company have gained new insights into major trends in what works (and what doesn’t) in venture funding pitches — like what time of year is actually best for pitching. Check out his articles on TechCrunch for more.

To have your deck considered, just fill out this form. If the panel picks yours to tear down, we’ll provide you with a free ticket to any TechCrunch event in 2020.

Disrupt Berlin runs December 11 and December 12. Tickets are available right here!

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Oct
28

Thought Leaders in Healthcare IT: John Harrison, Chief Commercial Officer of Concord Technologies (Part 1) - Sramana Mitra

The document transfer and management process in the healthcare industry is archaic and full of holes. John discusses innovation and opportunities. Sramana Mitra: Let’s start at the beginning and have...

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Original author: Sramana Mitra

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Nov
01

Sega and Microsoft plan strategic alliance for ‘Super Game’

Pandere Shoes is an Alaskan founded and women-owned startup that creates expandable footwear that accommodates a host of conditions such as edema, diabetes, and neuropathy. 

I met the co-founder Laura Oden when I was in Anchorage last month to speak at the Accelerate Alaska event. She came up to me after I gave my talk and told me that her company wouldn’t exist without Startup Weekend and Techstars.

While that caused a big smile to cross my face, I asked her to tell me more. She described how she met her founders at Techstars Startup Weekend in 2016.

Laura struggled for 40 years to find shoes to accommodate her lymphedema which caused one foot to be chronically swollen. Off the rack shoes only fit one foot and she needed a shoe that would expand to accommodate her swollen foot. Over time, the team realized that millions of people all over the world were struggling with a similar problem.

This was the idea she brought to the Startup Weekend. At the end of the 54-hour event, Pandere won the top slot and the company was born. The event fostered confidence that buoyed the team through enough contest wins to develop a prototype.

When you think of Alaska, you probably do not think of it as a popular location for producing shoes. The founders loved where they lived and put together a support team of shoe experts and designers in Boston, France, and Portugal. They were able to obtain early capital from prize winnings, along with mentorship from fellow entrepreneurs and investors. While Alaska is not a shoe capital, it is now headquarters to a shoe company addressing a global problem.

Pandere launched publicly on Nov 2018 and has produced five unique styles that accommodate wide and extra widths for men and women who cannot fit into traditional footwear, with more styles to come. Their shoes are made in Portugal. Every shoe sale generates a donation to the Lymphatic Research and Education Network (LE&RN). 

When I got back to the hotel at the end of the day I bought a pair of Pandere Saturday Shoes to give them a try. I have wide feet and they are often annoyed with me from all the running I do. The Pandere’s are wonderfully comfortable and have replaced my OluKai’s, which replaced my Allbirds, which replaced my Vans as my daily kicks.

The team at Pandere continues to #givefirst by giving back into the ecosystem that fed them. They have stayed involved in the community by volunteering as coaches, hosting dinners, and offering advice to budding entrepreneurs.

And hopefully, I’m helping them out a little by highlighting them here. I love origin stories that link to Techstars, and this one combines Techstars, Alaska, women-entrepreneurs, and shoes that I’m loving.

Give them a try at the Pandere Shoes online store.

Original author: Brad Feld

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