Jan
04

FloWater just raised $15 million to put bottled water out of business

Apple CEO Tim Cook. Getty

Good morning! This is the tech news you need to know this Friday.

Apple has been widely criticized for apparently kowtowing to Chinese censorship, removing an app that helps Hong Kong protesters track police, and news app Quartz from various App Stores. The firm u-turned on Wednesday and booted HKMap Live for "endangering" law enforcement, as well as news app Quartz.Tim Cook defended Apple's decision to remove an app that let protesters track the location of police in Hong Kong. Cook said the app was removed because it was being used to "maliciously target individual officers for violence," according to a memo to staff obtained by Bloomberg.WeWork may secure a rescue package as early as next week, reports the Financial Times. US investment banking giant  JP Morgan Chase and Co. is leading the rescue package discussions, according to the newspaper.Amazon reportedly has dozens of workers watching footage recorded by its Cloud Cam home security camera. According to Bloomberg, clips reviewed by workers sometimes include private interactions, such as recordings of sexual activity.Blizzard's former 'World of Warcraft' lead is boycotting the firm for punishing a 'Hearthstone' competitor who supported the Hong Kong protests. Mark Kern said he would renounce World of Warcraft "until Blizzard reverses their decision" on banning esports player Blitzchung.Some 2,200 people reportedly watched footage of Wednesday's shooting in Germany on Twitch. BBC News reports that footage remained online for 30 minutes after the gunman's live stream ended.Google has removed an app called 'The Revolution of Our Times' from its Play Store which allowed you to role-play as a Hong Kong protesters. A Google spokesman said the firm doesn't allow app developers to "capitalize on sensitive events," reports the Wall Street Journal.Fewer than 0.1% of Instagram users have bought into the hype of the platform's latest Snapchat competitor, Threads. In Threads' first week, an estimated 220,000 people out of Instagram's billion-plus users have downloaded the app, according to data from Apptopia.Ellen DeGeneres is trying to block a video slamming her controversial friendship with George W. Bush, but it's gone viral. DeGeneres defended her friendship with Bush in a speech on her show on Tuesday.A coach in Blizzard's Overwatch League was told to delete a tweet condemning the company for censoring an esports competitor from Hong Kong. The tweet criticized Blizzard's punishment of Hong Kong-based esports competitor Blitzchung, according to a report from the Dallas Morning News.

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Original author: Charlie Wood

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Jan
03

Pokémon GO creator Niantic closes $190M funding round

Bill McDermott, CEO of enterprise software giant SAP,  is stepping down, the company said Thursday. The abrupt announcement didn't give a reason for his departure, but SAP says that McDermott will stay on as an advisor through the end of the year.He will be replaced by two members of the SAP executive team, Jennifer Morgan, president of the company's cloud business group, and chief operating officer Christian Klein.Analysts say the change — and the appointment of Morgan, an experienced cloud leader — underscores SAP's effort to adapt to an evolving enterprise tech market where it faces challenges from cloud software giants led by Salesforce and Workday.Click here for more BI Prime stories.

Bill McDermott, CEO of SAP, is suddenly stepping down in what analysts see as a major move for the enterprise software giant as it confronts challenges in the cloud.

McDermott will be replaced by two members of the SAP executive team —  Jennifer Morgan, president of the company's cloud business group, and chief operating officer Christian Klein, the company said Thursday. Morgan and Klein will take the title of co-CEOs. 

No reason was given for McDermott's departure, but he will stay in an advisory role until the end of the year, SAP said.

"Every CEO dreams of being able to transition a company to its next generation from a position of significant strength," McDermott, who joined SAP in 2002, said in a statement. "When you look at where we were and where we are, I simply could not be prouder of what this company has achieved over the past decade."

In a statement, Hasso Plattner, chairman of SAP's supervisory board, praised McDermott's "invaluable contributions to this company," noting that "he was a main driver of SAP's transition to the cloud, which will fuel our growth for many years to come."

A big shift

SAP is one of the dominant players in the market for enterprise software used by businesses, including the world's largest corporations, to manage their operations.

But like other major enterprise software companies, including Oracle and IBM, SAP has had to adapt to the rise of the cloud, which has dramatically changed the way businesses access business software applications.

Instead of paying hefty licensing fees for software installed in private data centers, the cloud made it possible for businesses to access set up their networks and access applications through web-based platforms, typically based on a subscription model. 

That has been a challenging transition for companies like SAP as it faces cloud-based rivals such as Salesforce and Workday.

"For sure, SAP is a company that is transforming," Adaire Fox-Martin, a member of the SAP executive team, told Business Insider in August. "I think we're at the tail end of that process in terms of the transformation of our business to the cloud." She said SAP is looking to triple its cloud revenue to $15 billion a year by 2023. 

Making up on lost ground

Analysts say SAP, like other traditional software vendors, was late in the transition to the cloud. But the appointment of Morgan, in particular, shows a renewed investment in the cloud. As the now-former leader of SAP's cloud business, she's well-positioned to know the ins and outs of that market.

IDC analyst Mickey North Rizza said SAP is now "making up on lost ground," as it appeals to customers who are using both traditional software, and major cloud platforms like Amazon's. SAP is focusing on opportunities in an emerging trend called hybrid cloud in which businesses maintain networks in the cloud, but still keep huge chunks of their data and applications in private data centers.

"Their customers are going hybrid so that helps as they move forward," she told Business Insider.

IDC President Crawford Del Prete also told Business Insider: "This is an important change for them and is clearly a pivot deeper into the cloud and subscription business models," he told Business Insider. "It will accelerate the company's transition, in my opinion."

Analyst Ray Wang of Constellation Research agreed. "I think where we are is they are putting a new chapter in play," he told Business Insider. "Bill McDermott had an amazing run and a great team to get there," he said. 

Got a tip about XXX or another tech company? Contact this reporter via email at This email address is being protected from spambots. You need JavaScript enabled to view it., message him on Twitter @benpimentel. You can also contact Business Insider securely via SecureDrop.

Original author: Benjamin Pimentel

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Oct
11

A Kick-Ass Woman Entrepreneur: Cooper Harris, CEO of Klickly (Part 4) - Sramana Mitra

The Centers for Disease Control and Prevention and the Food and Drug Administration are investigating a spate of lung illnesses tied to vaping, or using e-cigarettes.According to new numbers released on Oct. 10, there have been 1,299 confirmed and probable cases of illness across the US. 26 people have died.Investigators don't know the cause. They haven't identified a single common brand, product, or drug across all of the cases.The mysterious lung disease isn't the only risk of vaping. Read on to see how vaping affects your health.Still, when compared against smoking, vaping nicotine appears to be healthier.Visit Business Insider's homepage for more stories.

Since June, 1,299 people in the US have been struck with lung illnesses tied to vaping, or using e-cigarettes. Twenty-six people have died.

The new figures, released by the Centers for Disease Control and Prevention on Oct. 10, include confirmed and probable lung-illness cases from 49 states, Washington, DC, and the US Virgin Islands. US officials have said they expect the number of deaths tied to vaping to increase.

Vaping is a highly variable hobby, making it difficult for officials to determine exactly what's causing the illnesses and deaths. 

Investigators have not yet identified a single common brand, device type, or drug across the cases. That could mean that all of the illnesses were triggered by the same issue, or that some of the cases are different diseases with some similar symptoms.

Officials said that it's likely that products containing THC played a role in the outbreak. About three quarters of the people who have the lung disease reported using vapes containing THC. About 13% said they exclusively vaped nicotine.

The CDC and the Food and Drug Administration are working together to figure out the potential causes. The agencies have previously said they've gathered about 120 vaping devices and substances that may be linked to the illnesses, and are currently studying them. 

Some reports have suggested that vitamin E acetate, which has been found in some of the products, may play a role in the illnesses. 

Read more: Vaping is leading to a spate of lung injuries, comas, and death. Lung experts say oils like vitamin E may be partially to blame.

The CDC advised people to consider not vaping until it can figure out the cause of the illnesses. The agency also warned smokers who vape nicotine to not return to smoking, however.

So far, the available evidence still suggests that when compared to smoking, vaping is a healthier habit. The practice involves inhaling heated vapor, rather than burned material. In general, vapers are believed to be exposed to fewer toxicants and cancer-causing substances than smokers. 

To help prevent young people from vaping, states including Michigan, New York, and Massachusetts have banned at least some e-cigarette products.

There are hundreds of different kinds of vaping devices

There's an enormous amount of variety when it comes to vaping devices, ingredients, and brands — making it difficult to pinpoint any single cause.

First, there are the all-in-one style devices, where all of the necessary pieces are contained in the device itself. These popular e-cigs are sold under brand names like Juul and Blu (for nicotine), and Pax (for cannabis).

Read more: The precarious path of e-cig startup Juul: From Silicon Valley darling to $38 billion behemoth under criminal investigation

Then there are the modifiable tank-based e-cigs, in which pieces of the device can be bought separately, and users can customize everything from the temperature of the device to the drug ingredients. These modifiable setups have been linked with dangers in the past, including at least two deaths.

Finally, there are the ingredients that go into the devices, which can range from waxes to liquids to ground plant matter. Some devices allow users to pour in their own liquid or stuff in their own wax or herbs, while other devices simply include disposable pre-filled cartridges.

In some of the cases reported to health agencies, users said they were vaping cannabis when their illness occurred. In Oregon, health officials said they had received reports that the person who died had been vaping cannabis. But because marijuana is still illegal in many states, it's possible that those cases are under-reported. Other vapers in the reports have been using only nicotine.

In many of the cases, patients said they experienced a gradual start of symptoms like trouble breathing, shortness of breath, and chest pain before they were brought to the hospital. Some people said they also experienced stomach issues including vomiting and diarrhea.

A new practice with several unknowns

Vaping is a relatively new practice, having only became popular within the past decade. Because of its novelty, researchers have warned that there's a lot we still don't know about how the practice impacts the brain and body.

Recently-discovered health risks range from a heightened exposure to toxic metals to a potentially higher risk of a heart attack.

Last spring, for example, researchers examining the vapors in several popular e-cigarette brands found evidence that they contained some of the same toxic metals normally found in conventional cigarettes, such as lead. They also found evidence suggesting that at least some of those toxins were making their way through vapers' bodies. Their results were published in the journal Environmental Health Perspectives.

Consistently inhaling high levels of toxic metals has been tied to health problems in the lungs, liver, immune system, heart, and brain, as well as some cancers, according to the US Department of Labor's Occupational Health and Safety Administration. 

In a study published last fall in the American Journal of Preventive Medicine, scientists found evidence tying daily e-cigarette use to an increased risk of a heart attack. Still, the study could not conclude that vaping caused the heart attacks — only that the two were linked.

When it comes to the spate of recent lung illnesses, health departments are further investigating by testing e-cigarette products and samples they've collected from patients.

But vaping seems to have helped hook millions of teens on nicotine 

Separately, vaping appears to have helped hook lots of new young people on nicotine — in some cases, young people who otherwise would not have smoked.

E-cigarettes have been tied to a large recent jump in smoking among middle school and high school students. From 2017 to 2018, the percentage of teens who said they'd used e-cigs jumped 78%, according to the CDC. Preliminary data for this year shows that e-cig use has continued to increase among teens.

Because they contain nicotine, e-cigarettes are especially dangerous for kids and teens whose brains are still developing, experts say. In young people, nicotine appears to blunt emotional control as well as decision-making and impulse-regulation skills. That most likely helped prompt a warning about e-cigs from the US surgeon general in December.

The rise in youth vaping prompted a crackdown on the industry led by the FDA. The agency responded by curbing the sale of flavored e-cigs, which they've said are particularly appealing to young people.

"Ultimately, we expect these steps designed to address flavors and protect youth will dramatically limit the ability of kids to access tobacco products we know are both appealing and addicting," Scott Gottlieb, who was then FDA commissioner, said in a statement at the time.

This article was published on August 30 and has been updated.

Original author: Erin Brodwin

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Oct
10

Forbes just revoked Adam Neumann's billionaire status and lowered its estimate of his personal net worth to $600 million — which means his purported net worth has plummeted by $3.5 billion in just 7 months

Adam Neumann is no longer a billionaire, Forbes now estimates.

The former WeWork CEO's net worth has plummeted to $600 million, the magazine estimates, paralleling the plunging valuation of his co-working empire following the company's up-and-down IPO adventure that saw the company whipsaw from a $47 billion valuation to talk of bankruptcy in just 6 weeks. Forbes' Samantha Sharf also reported that Neumann's cofounder, Miguel McKelvey, has also lost his billionaire status.

The $3.5 billion drop in Neumann's personal net worth was the result of the declining value of Neumann's 18% stake in WeWork, Forbes reported. WeWork was valued at $47 billion in January following an investment from Japanese investment firm Softbank. However, the company reportedly sought a valuation as low as $10 billion in September as public scrutiny over its steep losses and leadership structure threatened its IPO. Forbes now estimates that the company is worth "at most $2.8 billion."

A representative for Neumann declined Business Insider's request for comment on whether Neumann's net worth had fallen below $1 billion.

The Forbes calculation of Neumann's net worth includes:

$504 million stake in WeWork, and$500 million he profited from stock sales,minus $380 million in debt disclosed in WeWork's S1 filing.

Read more: The WeWork IPO fiasco of 2019, explained in 30 seconds

Forbes does not believe that either Neumann or McKelvey — who the publication says is now worth $400 million — will likely rejoin the three comma club.

Neumann founded WeWork in 2010 alongside his now-wife Rebekah Neumann and Miguel McKelvey. Concern from potential investors over the company's finances and corporate governance issues pushed Neumann to resign as WeWork's CEO on September 24.

Under Neumann's leadership, the company was plagued by a party culture that included alcohol-fueled company retreats and little work-life balance, Business Insider's Meghan Morris and Julie Bort previously reported.

Have you worked for Adam Neumann or WeWork and have a story you'd like to share? Contact the reporter via encrypted messaging app Signal at +1 (646) 768-4725 using a non-work phone, email at This email address is being protected from spambots. You need JavaScript enabled to view it., or Twitter DM at @TaylorNRogers. (PR pitches by email only, please.)

Original author: Taylor Nicole Rogers

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Oct
10

GM CEO Mary Barra met with top UAW leadership to overcome strike impasse (GM)

GM CEO Mary Barra met with UAW President Gary Jones and Vice-President Terry Dittes with a strike against the carmaker reaching into its fourth week.The meeting evidently encouraged negotiators to overcome an impasse and continue working through remaining contract issues.GM's 50,000 UAW-represented workers have been on strike since Sept. 16; it's the largest labor action against a major automaker since 1982.Visit Business Insider's homepage for more stories.


GM CEO Mary Barra on Wednesday held a meeting with United Auto Workers President Gary Jones and Vice-President Terry Dittes. 

The UAW strike against GM, with nearly 50,000 workers walking off the job, is now in its fourth week.

The meeting between Barra, several GM negotiators, and the UAW leadership,  was held at GM's headquarters in downtown Detroit and took place on Tuesday afternoon at Barra's behest, a source with knowledge of the negotiations told Business Insider. The news was originally reported by the New York Post and the Detroit Free Press.

The UAW also confirmed the meeting to Reuters. The meeting has been labeled "secret," but the UAW disputed that characterization.

Read more: The US auto workers union just decided to walk out on GM — here's why they're striking

After appearing to have resolved a series of remaining issues around profit-sharing and temporary workers, talks reached an impasse the past weekend when, Dittes wrote in an email to GM negotiator Scott Sandefur, the company failed to respond in an acceptable manner to a UAW proposal.

Talks continued into the night and early morning

UAW President Gary Jones. Reuters

With no official counter from the UAW on Monday and Tuesday, even as negotiations continued, Barra decided to offer the meeting, which ran for about an hour. The New York Post said that armed guards escorted Jones and Dittes to Barra's office in the Renaissance Center, but that wasn't the case. The meeting took place in the main negotiating area in the building, and there were no armed guards, a source familiar with the situation said.

A source indicated that talks then continued well into the night and early Thursday morning, suggesting that two sides are working to address the remaining sticking points.

The strike began on September 16 and is the largest labor action against a major automaker since 1982. In 2007, the UAW struck GM for just two days.

Jones's presence at the media was notable. The UAW president has maintained a relatively low profile during negotiations. He, along with other UAW officials, is under investigation by federal authorities on allegations of corruption.

The meeting was consistent with Barra's approach to running GM. She's wasted no time in making the difficult decisions that could keep the 111-year-old automaker in business. GM sold its money-losing European division, Opel, in 2017, and more recently streamlined its South Korea operations. In 2016, it bought San Francisco-based Cruise Automation for an all-in price of $1 billion; subsequent investment has raised the self-driving startup's valuation to nearly $20 billion (GM's market cap is $50 billion). 

GM's original offer didn't satisfy the UAW

A vehicle being assembled at GM's Lordstown, OH, plant. GM

GM originally offered to invest $7 billion and add 5,400 jobs in the US, including "solutions" for idled plants in Ohio and Michigan. The company announced last year that it would "unallocate" a group of US factories, but in its initial offer to the union it said that it could bring an electric-battery plant to area in Ohio where the Lordstown facility is located, and that it could use the Hamtramck plant in Michigan to assemble a new electric truck.

The UAW membership walked out over benefits, profit-sharing, and the fate of temporary workers, despite a GM offer to keep UAW contributions to health care at around 3%. But earlier this week, Dittes sent a letter to the membership that stressed job security as an ongoing concern.

"We have made it clear that there is no job security for us when GM products are made in other countries for the purpose of selling them here in the USA," he wrote, referring to GM vehicles manufactured in Mexico."We believe that the vehicles GM sells here should be built here."

Original author: Matthew DeBord

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Dec
10

Rendezvous Online Recording from October 15, 2019 - Sramana Mitra

Both Democrats and Republicans in Congress slammed Apple on Thursday for the company's decision to pull a Hong Kong protest app from the App Store.The app, HKmap.live, allowed protesters to share the location of police activity.Apple pulled the app, saying the app was "used in ways that endanger law enforcement and residents in Hong Kong.""An authoritarian regime is violently suppressing its own citizens who are fighting for democracy," one senator tweeted. "Apple just sided with them."Visit Business Insider's homepage for more stories.

Apple drew harsh criticism from both Republicans and Democrats in Congress on Thursday after the tech giant decided to pull an app from the App Store that was being used by protesters in Hong Kong.

The app, HKmap.live, allowed protesters in Hong Kong to share the location of police and plan their movements accordingly, similar to apps like Waze.

Apple has repeatedly flip-flopped on whether to allow the app — it initially rejected the app earlier this month, then made it available for download a few days later, before ultimately removing it from the app store on Thursday.

"Apple assured me last week that their initial decision to ban this app was a mistake. Looks like the Chinese censors have had a word with them since," Republican Senator Josh Hawley of Missouri tweeted. "Who is really running Apple? Tim Cook or Beijing?"

An Apple spokesperson was not immediately available to comment. In a previous statement explaining the rationale for removing the app, Apple said HKmap.live was "used in ways that endanger law enforcement and residents in Hong Kong," the New York Times first reported.

In response, developers of HKmap.live told The Verge that "HKmap App never solicits, promotes, or encourages criminal activity. HKmap App consolidates information from user and public sources, e.g. live news stream, Facebook and Telegram."

Democratic Senator Ron Wyden of Oregon, who has a record of being tough on China, also criticized Apple's decision.

"An authoritarian regime is violently suppressing its own citizens who are fighting for democracy," Wyden tweeted. "Apple just sided with them."

Other lawmakers to blast Apple's decision included Republican senator Rick Scott of Florida and Tom Cotton of Arkansas.

—Tom Cotton (@TomCottonAR) October 10, 2019
—Rick Scott (@SenRickScott) October 10, 2019

Tim Cook, in a leaked memo to employees obtained by Bloomberg's Mark Gurman, talked more about Apple's decision to remove the app. Cook wrote that the app was being used to "maliciously target individual officers for violence," and that he received "credible information" from the Hong Kong Cybersecurity and Technology Crime Bureau as well as the app's users which indicated it was being used for those purposes.

Google on Thursday was accused of removing a game about the Hong Kong protests at the request of Hong Kong police, which the company has denied, saying instead it was because the app violated its policies.

The video game distributor Blizzard has also drawn backlash this week for banning a Hearthstone player for supporting the Hong Kong protests. Before that, a Houston Rockets manager walked back his statement in support of Hong Kong protesters after China's state broadcaster said it wouldn't show future Rockets games.

Original author: Aaron Holmes

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Jan
04

'Pull into a secure location': Here's what Waymo tells autonomous car test drivers to do when they're threatened (GOOGL, GOOG)

 

A great space heater can make the bitter cold of winter bearable, and the Trustech Ceramic Space Heater is our top pick because it's affordable, programmable, and it heats up quickly.

If you don't have central heating, or do but don't want to use all that energy, then a space heater is a great way to ensure you keep nice and warm during those long winter months. Space heaters will keep you warm in your frigid office, that one cold room in your house, or your chilly dorm room.

There are plenty of space heaters to choose from, so you might have to do a little research to find the right one for your needs. Thankfully, we've done the research for you to find the best space heaters you can buy. Here are a few things to keep in mind.

Room size: You'll want to think about the size of your room. Space heaters can often only do so much, and if you're trying to heat a huge room, you may want to consider buying a larger space heater. Likewise, if you're largely going to use the device in a smaller room, then perhaps save some money and energy and go for a smaller space heater.Energy efficient models: Additionally, some space heaters are built specifically to be energy-efficient and buying one of those options means you could save a little money on your monthly energy bill. Plenty of those energy-efficient heaters are high-quality, too, and they will heat your room just as well as any non-energy-efficient heater.Portability: While you may not be taking your space heater out of your house often, you may still need to move it from room to room. If that's the case, you'll want to make sure that it's relatively easy to move.

Last but not least, you'll want to consider what the space heater looks like. Sure, that may not be as important as offering heat, but the fact is that a space heater could well become a piece of furniture in your house, and as such, it should be able to fit in with the rest of your furniture reasonably well.

Updated on 10/10/2019 by Caitlin Petreycik: Updated formatting, prices, and links. 

Original author: Christian de Looper

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Feb
08

Thought Leaders in Cloud Computing: Actifio CEO Ash Ashutosh (Part 5) - Sramana Mitra

In a memo to employees, Apple CEO Tim Cook stood by the company's decision to remove an app from the App Store used by Hong Kong protesters to monitor police activity.Cook said the app was removed because it was being used to "maliciously target individual officers for violence," according to a memo to staff obtained by Bloomberg.Cook also said in the email that he received "credible information" from the Hong Kong Cybersecurity and Technology Crime Bureau and users that indicated the app was being used in this way.Visit Business Insider's homepage for more stories.

Apple CEO Tim Cook is standing by the company's controversial decision to remove an app from the App Store used by Hong Kong protesters to track police activity.

In an email to Apple staff obtained by Bloomberg's Mark Gurman, Cook said the app, called HKmap.live, was removed because it was being used to "maliciously target individual officers for violence" and "victimize individuals and property where no police are present."

The Apple CEO said he received "credible information" from the Hong Kong Cybersecurity and Technology Crime Bureau and users in Hong Kong that indicated that the app was being used in this way, Bloomberg reported. 

"These decisions are never easy, and it is harder still to discuss these topics during moments of furious public debate," Cook wrote in the email, according to Bloomberg. "National and international debates will outlive us all, and, while important, they do not govern the facts. In this case, we thoroughly reviewed them, and we believe this decision best protects our users."

The content of the email published in Bloomberg's story is similar to a post said to be a leaked memo to staff from Cook that was published on the website Pastebin on Thursday. 

An Apple spokesperson did not respond to Business Insider's inquiry about whether the memo posted on Pastebin was legitimate.

Cook's email echoes the comment Apple issued earlier in response to its decision to remove the app, a choice that has come under criticism. See below for the full statement Apple issued to Business Insider earlier on Thursday regarding its decision to remove HKmap.live from the App Store. 

We created the App Store to be a safe and trusted place to discover apps. We have learned that an app, HKmap.live, has been used in ways that endanger law enforcement and residents in Hong Kong. Many concerned customers in Hong Kong have contacted us about this app and we immediately began investigating it. The app displays police locations and we have verified with the Hong Kong Cybersecurity and Technology Crime Bureau that the app has been used to target and ambush police, threaten public safety, and criminals have used it to victimize residents in areas where they know there is no law enforcement. This app violates our guidelines and local laws, and we have removed it from the App Store.

Apple removed the app after People's Daily, the newspaper run by the Chinese Communist Party, slammed the iPhone maker for keeping the app on its store. Since Apple removed the app, officials such as US Sen. Josh Hawley and Charles Mok, Hong Kong's information technology legislator, have rallied against the decision.  

Original author: Lisa Eadicicco

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Oct
10

James Murdoch reportedly bought a stake in Vice, as his new company begins to make media investments

Lupa Systems, the media holding company founded by James Murdoch, bought a minority share in Vice Media, according to the Financial Times.Murdoch launched Lupa Systems using proceeds from his family's sale of 21st Century Fox.Vice, which recently purchased Refinery29, is a progressive, digital outlet targeted toward a young demographic.Murdoch wants to distance himself from his family's conservative media leanings, sources familiar with the deal told the FT.Visit Business Insider's homepage for more stories.

James Murdoch's holding company agreed to buy a small stake in Vice Media Group, sources briefed on the deal told the Financial Times.

Murdoch, the son of media mogul Rupert Murdoch and former CEO of 21st Century Fox, has been on Vice's board of directors since 2013.

Murdoch launched the holding company, Lupa Systems, earlier this year in an effort to make his own way in the media industry outside of his family's empire, according to the FT.

When the Murdoch family sold most of 21st Century Fox to Disney for $71 billion, James Murdoch used his $2 billion in proceeds to build Lupa Systems as a holding company for his media investments, the FT reported.

Lupa Systems recently teamed up with another holding company, Joe Marchese's Attention Capital, to acquire a controlling stake in Tribeca Film Festival parent company Tribeca Enterprises. 

The FT didn't uncover the size of Lupa's stake in Vice, but sources with information about the sale told the outlet Lupa was a minority shareholder. 

A representative for Murdoch declined to comment to Business Insider.

Murdoch's deal with Vice followed quickly behind Vice's merger with Refinery29, which Vice bought mostly with stock. The FT reported the Lupa deal valued Vice at about $4 billion.

The FT reported that James Murdoch is trying to step away from his father's conservative media leanings with his Lupa investments, citing sources familiar with the deal.

Both Vice and Refinery29 are known as progressive outlets with young audiences. The Refinery29 acquisition positions Vice ⁠to improve its reputation as a sometimes hostile work environment for women.

Original author: Alyssa Meyers

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Oct
10

Microsoft workers are asking the company to cancel its $8 million of contracts with ICE, after their colleagues at GitHub take a stand (MSFT)

Some Microsoft employees are taking a stand and asking their employer to drop its contracts with Immigration and Customs Enforcement — following suit from their colleagues at GitHub, the Microsoft-owned code-sharing site.

On Thursday, Microsoft employees published an open letter to management on GitHub asking for the company to drop its contracts with ICE. As Recode reported, Microsoft currently has over $8 million in contracts with ICE, while GitHub recently renewed a contract with the agency worth some $200,000.

You can read the full letter here. It's not immediately clear how many employees signed the letter, but Bloomberg's Mark Bergen and Dina Bass report that it's "circulating" among the company. Microsoft employees are asking their co-workers, as well as people outside Microsoft, to like, or "star," the repository as a sign of support, a Microsoft employee told Business Insider.

Earlier this week, over 150 GitHub employees signed a similar open letter protesting that deal with ICE. GitHub CEO Nat Friedman defended the deal, saying in a a letter to employees saying that GitHub would not block the contract, but it plans to take part in immigration advocacy efforts and to donate $500,000 to immigration nonprofits. 

Read more: GitHub is facing an employee backlash as its CEO defends a $200,000 contract with ICE: 'All it does is make us complicit'

Microsoft employees say in the letter that they stand in solidarity with their colleagues at GitHub, arguing that a deal with ICE — the agency tasked with enforcing the Trump administration's controversial immigration policies, including family separation at the Mexican border — is in violation of management's stated support of human rights causes. 

"Microsoft is an international company that professes to equality and diversity, and is built on the labor of many immigrants," the letter said. "So how can we continue to do business with an organization that endlessly terrorizes this populace? We demand that Microsoft upholds its own guidelines in our commitment for human rights. As leaders in the tech industry, we are paving the way for others to follow."

The employees behind the letter say that Microsoft's dealings with ICE makes the company complicit in its work.

"Every single product and service that ICE has available to them makes them more efficient, able to operate at a bigger scale, and more capable of committing widespread human rights abuses," the letter from Microsoft employees said. "If we continue to provide those tools to such organizations, we are continuing to take part in the oppression of immigrants."

Microsoft did not immediately respond to a request for comment.

Do you work at Microsoft or GitHub? Got a tip? Contact this reporter via email at This email address is being protected from spambots. You need JavaScript enabled to view it., Telegram at @rosaliechan, or Twitter DM at @rosaliechan17. (PR pitches by email only, please.) Other types of secure messaging available upon request. You can also contact Business Insider securely via SecureDrop.

Original author: Rosalie Chan

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Oct
10

Autonomous trucking startup Einride eyes US market with $25 million in new funding

Einride, the Swedish autonomous vehicle startup known for its futuristic pods designed to haul freight, has raised $25 million in a Series A round that will be used to fund its expansion into the United States.

The round was co-led by EQT Ventures and NordicNinja VC, a fund backed by Panasonic, Honda, Omron and the Japan Bank for International Cooperation. Other investors joining the round include Ericsson Ventures, Norrsken Foundation, Plum Alley Investments and Plug and Play Ventures. The startup has raised $32 million to date.

Einride’s self-driving vehicle isn’t quite a truck, although it’s meant to perform the same freight-hauling tasks. The company’s T-Pod electric vehicle, which was unveiled in 2017, has been running on public roads since May of this year.

Einride, which was founded in 2016, has landed several customer contracts, including logistics provider DB Schenker and supermarket chain Lidl. Einride has a commercial pilot with DB Schenker. The startup said it has also signed on “large U.S.-based retail companies,” without naming them.

The funds will be used to hire more people, invest in its software platform and expand internationally, notably the U.S., according to the company. Einride plans to open a U.S. office next year.

“Our ambition is to disrupt the transport industry and closing our series A brings us one step closer to that goal,” Einride co-founder and CEO Robert Falck. “The funding will allow us to start expanding in the U.S., deliver on our technology road map and to meet rapidly increasing customer demand.”

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Oct
10

How to download games on your PS4 in 2 different ways

You'll need to download games onto your PS4 before you can play them.You can buy and download games on a PS4 through the PlayStation Store, as well download games you've already purchased through your PS4 Library.You'll need to have an internet connection to download any game.Visit Business Insider's homepage for more stories.

As the gaming industry moves further away from physical game releases, digital copies of games are becoming more and more popular.

However, unlike hard copies of games, digital copies require that you download the game before you can actually play it. 

As long as you have an internet connection and the money to buy your games, you can download PS4 games from both the PlayStation Store and your PS4 Library.

Check out the products mentioned in this article:

PlayStation 4 (From $299.99 at Best Buy)

PlayStation Plus 12-month membership (From $59.99 at Best Buy)

How to download games on your PS4 from the PlayStation Store

If you haven't already purchased the game you want to play, you'll need to purchase and download it through the PlayStation Store.

1. From your PS4's Home screen, navigate to the PlayStation Store app and press the X button to open it.

2. Select the game you want to download and press X. This will pull up a screen with information about the game itself, including its price (if applicable).

3. If you haven't purchased the game, select "Add to cart" and press X. If you've already purchased the game, or the game is free, "Download" will appear instead of "Add to cart" — in this case, select "Download" and press X. 

You don't have to pay for every game. Some are free to download. Chrissy Montelli/Business Insider

4. After you've added the games you want to your cart, select "Proceed to checkout" and press X. You may need to enter your payment information if it's not already saved.

5. After you've entered your payment information, select "Confirm Purchase" and press X. Finally, on the next screen, select "Download" and press X.

How to download games on your PS4 from your PS4 Library

If you've already purchased a game, but don't have it installed, the game will appear in your PS4 Library. You'll need to download the game from your Library before it can be played.

1. From your PS4's Home screen, navigate to the Library app and press the X button to open it.

2. In the left sidebar, scroll down to "Purchased" and press X.

If you have a PlayStation Plus account, you can select "PlayStation Plus" in the sidebar menu and download games from there using the same method. Chrissy Montelli/Business Insider

3. Navigate through the list of games until you've found the one you want to download. Press X.

4. Select "Download" and press X. Your game should begin downloading automatically.

Keep in mind that in both cases, you won't be able to play the full game until it's finished downloading and installing. Your download speed can be affected by various factors, such as your internet speed and the amount of memory the game requires — bigger games will take longer.

Original author: Chrissy Montelli

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Oct
10

The best juicers you can buy

Hurom

There's nothing like starting the day with a glass of fresh-squeezed orange juice, and the Hurom Citrus Juicer makes every morning feel like Sunday brunch.

There are few methods of getting your daily dose of vitamin C that are more satisfying than downing a large glass of orange juice. And while that bottle of Tropicana in your fridge may serve your juice-craving needs in a basic way, you know it's not exactly the real deal. Alas, getting a freshly squeezed cup of citrus in the morning is generally relegated to tropical vacations or decidedly overpriced runs to your nearby juice bar. Until now.

The Hurom Citrus Juicer is hands down the best way to get every last drop of juice out of your orange, grapefruit, or citrus of choice. That's thanks to the machine's one-size-fits-all finned juicing cone, which leaves rinds practically empty. When you press the handle down, the motor works automatically to mimic the motion of a hand squeezing citrus, while your hands are free to do important things like brew coffee. (Here we should mention that, at $149, the CJ is cheaper than some Keurig machines.) 

Hurom has previously received flak for creating juicers that are a bit hard to clean, but this particular model suffers from none of those drawbacks. There's a drip-stop outlet, which can quickly be flipped open or closed so you can start or stop the torrential downpour of juice at will. As for cleaning the machine itself, the parts quickly disassemble, and the juicer is as good as new after a quick rinse and dry.

Despite the power of the 120V motor, which spins the juicing cone at an impressive 120 RPM, the juicer is extremely quiet. Hurom also claims that your juice can last up to 72 hours — shorter than the shelf-life of store-bought varieties, but longer than similar fresh products. (Although, I'll admit that I've never managed to keep fresh juice around long enough to really test that claim.) 

The secret behind that extended expiration date: the body and filter of the CJ are made of stainless steel, while the juicing cone and chamber are comprised of Styrene acrylonitrile resin (SAN), a type of plastic that is known for its thermal resistance. These materials ensure that there is minimal oxidation, so your OJ maintains its natural taste and maximum nutritional value. 

From an aesthetic perspective, the CJ is quite the looker, too. It's currently available in three shades: silver, pink, and pastel blue. While the silver will doubtless blend into any kitchen decor, there's something to be said about the soft and playful pink and blue colorways. — Lulu Chang

Pros: Extremely effective for your OJ, quiet yet powerful motor, relatively inexpensive

Cons: You can only juice citrus with this Hurom offering 

Buy on Amazon for $149.90
Original author: Christian de Looper, Owen Burke and Lulu Chang

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Feb
08

ServiceNow’s Growth Mantras: AI, Verticals - Sramana Mitra

If you move to a different country, you'll want to change your iPhone country settings to make the permanent switch — unlike traveling abroad temporarily.

You can easily change your iPhone's country in the Settings app, where you'll also be asked to change your payment method and billing address.

Before changing your iPhone's country settings, you will want to take measures to make your transition as easy as possible, such as cancelling subscriptions on your iPhone, including cancelling Apple Music. Once you change your country, wait until you've paid your last subscription bills, then resubscribe.

Additionally, you'll want to spend any store credit saved to your iTunes & App Store account, as it won't transfer over with you. You can also go ahead and proactively remove your current credit card, as you'll be prompted to enter new payment information once you select your new country.

You may have difficulty changing your country if you're part of a Family Sharing group. You can find and change your Family Sharing details in your Settings app as well.

Keep reading for instructions on how to change your iPhone's country.

Check out the products mentioned in this article:

iPhone 11 (From $699.99 at Best Buy)

How to change the country on your iPhone

1. Open the Settings app on your iPhone.

2. Tap your name at the top of the page. This will bring you to your account details.

3. Tap on iTunes & App Store. 

You'll need to open your Apple ID page. Marissa Perino/Business Insider

4. The top of the iTunes & App Store page should show your Apple ID. If you're not signed in, tap to sign in at this time.

5. Tap your Apple ID and then tap "View Apple ID" in the pop-up menu. You may be asked to enter your password or Touch ID to proceed.

Tap "View Apple ID" in the pop-up menu after tapping your Apple ID. Marissa Perino/Business Insider

6. This will bring you to your Account Settings page. Select "Country/Region" to change your current country settings.

7. Tap "Change Country or Region."

8. Select your new country from the list.

There are hundreds of countries on this alphabetized list. Marissa Perino/Business Insider

9. You will then be asked to review and agree to the new Terms & Conditions associated with your new country. Be aware that this form may not be available in English. Tap "Agree" at the top-right hand corner of the screen to confirm your changes.

10. You can then proceed to enter your new payment information and the billing address for your new residence. Once this information is confirmed, you will have successfully changed the country on your iPhone.

Original author: Marissa Perino

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Sep
18

1Mby1M Virtual Accelerator Investor Forum: With Tim Guleri of Sierra Ventures (Part 2) - Sramana Mitra

Yet another shoe has dropped for Richard Stallman, one of the world's most famous computer scientists and the founder of the influential Free Software Foundation. A group of programmers working on the GNU operating system, one of his most important software projects, has called for Stallman to step aside.Stallman resigned last month from his long-standing positions at MIT and the Free Software Foundation after he made controversial comments about the Jeffrey Epstein scandal, made public in a now-viral Medium post.In the now-public messages, Stallman appeared to be defending another MIT computing legend, the late Marvin Minsky, who had been accused of assaulting one of Epstein's alleged victims.Stallman described Epstein's victim as likely "presenting herself ... entirely willing."One of the programmers calling on Stallman to resign from GNU tells Business Insider that Stallman's comments on Epstein's victim was the "last straw" when it came to his desire to work with the programming legend, but that the GNU project has no easy way to force Stallman out.Visit Business Insider's homepage for more stories.

Yet another shoe has dropped for one of the world's most famous computer scientists, Richard Stallman — the architect of the free and open source software movement (FOSS), who found himself pushed out of his longstanding roles at MIT and the Free Software Foundation last month after wading into the Jeffrey Epstein scandal.

On Monday, a group of 20 programmers who work on one of his most famous projects, the GNU operating system,  signed a letter condemning Stallman's behavior. They want the GNU project to distance itself from Stallman, its founder and leader.

In the letter, they wrote: 

"We, the undersigned GNU maintainers and developers, owe a debt of gratitude to Richard Stallman for his decades of important work in the free software movement...Yet, we must also acknowledge that Stallman's behavior over the years has undermined a core value of the GNU project: the empowerment of all computer users...We believe that Richard Stallman cannot represent all of GNU. We think it is now time for GNU maintainers to collectively decide about the organization of the project."

Stallman, the founder of the influential Free Software Foundation, is an icon of the programming world. He pioneered the concept of free and open source software (FOSS), whereby any programmer can create, contribute to, and give away software for free — offering viable alternatives to corporate-owned and created software. 

Today, FOSS runs the world: The Linux operating system, the biggest open source project of them all, powers the servers that make the internet run. Android, the most popular smartphone platform in the world, is based on open source code, too. FOSS has also created thousands of jobs and billions of dollars of value via companies like Red Hat and MuleSoft.

But Stallman's larger-than-life reputation began to unravel after he inserted himself into the scandal surrounding convicted sex offender Jeffrey Epstein. MIT was embroiled in the scandal for accepted millions of dollars in funding from Epstein. 

Stallman under scrutiny

Stallman had been a cornerstone of some of MIT's most prestigious computer science work since the 1970's, first as a student and, until last month, as a visiting scientist.

He jumped into the Epstein fray with an email defending the late Marvin Minsky, an MIT professor and legend of AI who was accused of assaulting Virginia Giuffre, one of Epstein's alleged victims.

That email, sent to the large MIT Computer Science and Artificial Intelligence Laboratory (CSAIL) mailing list, saw him argue that even if Minsky did take advantage of Epstein's alleged victim Giuffre, that the act should not be characterized as assault or rape because "the most plausible scenario is that she presented herself to him as entirely willing."

And when a student pointed out that Giuffre was only 17 when she would have been forced to have sex with Minsky in the Virgin Islands — which would constitute the alleged act as rape — Stallman said "it is morally absurd to define 'rape' in a way that depends on minor details such as which country it was in or whether the victim was 18 years old or 17."

His remarks so disturbed MIT alum Selam Jie Gano that she posted them on Medium, along with other things Stallman has said or written over the years on his own personal website or cataloged by women-in-tech site Geek Feminism.

This included remarks by Stallman about pedophilia: "I am skeptical of the claim that voluntarily [sic] pedophilia harms children. The arguments that it causes harm seem to be based on cases which aren't voluntary, which are then stretched by parents who are horrified by the idea that their little baby is maturing."

He is said to have later changed his mind about that position. However, the statement still lives on his personal website where he keeps a list of his thoughts on news and social topics. 

Gano also lambasted Stallman for his attitudes by women generally, such as a sign on his door, in which he called himself "Knight for Justice (and also hot ladies)."

After Gano's Medium blog post went viral last month and the email string was published in full by Motherboard, Stallman ultimately resigned from both from MIT and the Free Software Foundation.

He described the uproar over his remarks on Epstein and Minsky as "misunderstandings and mischaracterizations" in his two-sentence public statement about his MIT resignation.

He wrote: "I am resigning effective immediately from my position in CSAIL at MIT. I am doing this due to pressure on MIT and me over a series of misunderstandings and mischaracterizations."

This statement, characterized by critics as "remorseless," seems to have done little to quell the furor over Stallman's remarks. And now, a number of important contributors to the GNU project — his last remaining high-profile open source project — apparently want him out, too.

The 'last straw'

While the letter didn't specify exactly why the project's developers would like him to resign, one of the people who signed it told Business Insider that the Epstein comments were his personal "last straw."

"Yes, this was a last-straw situation for me personally. Others have their own personal opinions," Matt Lee, a free and open source software developer and co-founder of the GNU social project, told Business Insider.

The problem is that they don't have a way to make Stallman leave, given that he started and runs the project — except, perhaps, through the threat of their own mass resignations.

"We have no right to boot him out, but as one of approximately 400 people who maintain packages for GNU, I can no longer be a part of GNU with him running things. GNU would be effectively stalled if everyone were to stop in this way," Lee said. He added that he continues to support "the Free Software Foundation and the broader free and open source software community."

Right now, it looks like Stallman has no intention of leaving. Just days before this letter became public, Stallman updated his personal website to say, "I continue to be the Chief GNUisance of the GNU Project. I do not intend to stop any time soon."

Stallman did not respond to our request for comment.

Original author: Julie Bort

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Oct
10

How to set a print area in Google Sheets, so you can print selected cells or sheets

You can change the print area of Sheets in one of two ways — by printing only certain cells, or by changing the layout on the page. 

Here's how to do both.

How to print selected cells in Google Sheets

1. Open the Sheets document you wish to print.

A Sheets document. Ross James/Business Insider

2. Highlight the cells you want to print.

Highlighted cells. Ross James/Business Insider

3. Hit Ctrl + P on a PC, or Command + P on a Mac, or go to File, then select Print at the very bottom of the list. 

4. In Print options, choose "selected cells."

Change to print "selected cells." Ross James/Business Insider

5. This will only print the highlighted region of the current sheet. Highlighting cells across sheets will not group them together.

How to change the print layout in Google Sheets

1. You can use the same option as above to choose to print only one sheet, or all sheets in the document. To print all sheets in a document, select "workbook" from the print options.
You can select to print the current sheet, workbook, or selected cells. Ross James/Business Insider
2. If you're having trouble printing on one page, then you can adjust the Margins to "Narrow," or select "Fit to page" under scale.

If that doesn't work, then you can adjust the scale more precisely by setting Scale to "Custom number" and entering the preferred scale as a percentage number. Larger numbers make the sheet or cell bigger on the page and smaller numbers take up less space on the page.

Set custom scaling. Ross James/Business Insider

Original author: Ross James

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Oct
10

Top VCs, founders share how to build a successful SaaS company

Last week at TechCrunch Disrupt in San Francisco, we hosted a panel on the Extra Crunch stage on “How to build a billion-dollar SaaS company.” A better title probably would have been “How to build a successful SaaS company.”

We spoke to Whitney Bouck, COO at HelloSign; Jyoti Bansal, CEO and founder at Harness, and Neeraj Agrawal, a partner at Battery Ventures to get their view on how to move through the various stages to build that successful SaaS company.

While there is no magic formula, we covered a lot of ground, including finding a product-market fit, generating early revenue, the importance of building a team, what to do when growth slows and finally, how to resolve the tension between growth and profitability.

Finding product-market fit

Neeraj Agrawal: When we’re talking to the market, what we’re really looking for is a repeatable pattern of use cases. So when we’re talking to prospects — the words they use, the pain point they use — are very similar from call to call to call? Once we see that pattern, we know we have product-market fit, and then we can replicate that.

Jyoti Bansal: Revenue is one measure of product-market fit. Are customers adopting it and getting value out of it and renewing? Until you start getting a first set of renewals and a first set of expansions and happy successful customers, you don’t really have product-market fit. So that’s the only way you can know if the product is really working or not.

Whitney Bouck: It isn’t just about revenue — the measures of success at all phases have to somewhat morph. You’ve got to be looking at usage, at adoption, value renewals, expansion, and of course, the corollary, churn, to give you good health indicators about how you’re doing with product-market fit.

Generating early revenue

Jyoti Bansal: As founders we’ve realized, getting from idea to early revenue is one of the hardest things to do. The first million in revenue is all about street fighting. Founders have to go out there and win business and do whatever it takes to get to revenue.

As your revenue grows, what you focus on as a company changes. Zero to $1 million, your goal is to find the product-market fit, do whatever it takes to get early customers. One million to $10 million, you start scaling it. Ten million to $75 million is all about sales, execution, and [at] $75 million plus, the story changes to how do you go into new markets and things like that.

Whitney Bouck: You really do have to get that poll from the market to be able to really start the momentum and growth. The freemium model is one of the ways that we start to engage people — getting visibility into the product, getting exposure to the product, really getting people thinking about, and frankly, spreading the word about how this product can provide value.

Photo: Kimberly White/Getty Images for TechCrunch

 

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Jan
17

We’ve gone Plaid #

Valued at $535 million, autonomous retail startup Standard Cognition has emerged as a soon-to-be tech giant and the best hope for merchants to compete with Amazon Go. Cashierless checkout is poised to transform brick-and-mortar commerce, and shop owners fear having to battle Amazon’s technology alone or partner with it, exposing data it could use against them.

The $86 million-funded Standard Cognition is racing to equip storefronts with an independent alternative using cameras to track what customers grab and charge them. But Amazon’s early start in the space poses a risk that it could patent troll the startup. So today, Standard Cognition announced it has acquired DeepMagic, a pioneer in autonomous retail kiosks.

“We’re not an aggressive company by any means. My personal stance on patents is that maybe they’re not the way the world should work,” says Standard Cognition CEO Jordan Fisher. “But given the larger player in the space, I think it’s the right thing to do so we have coverage and can protect ourselves.”

DeepMagic lets customers swipe a payment card when entering a smaller kiosk or store, pick up items that are detected by cameras and simply walk out while having their card charged. The idea is that businesses could operate satellite micro-storefronts in malls, apartment buildings and more without staff. DeepMagic was easier to deploy since the kiosks were built from the ground up to eliminate annoying checkout lines.

Standard Cognition CEO and co-founder Jordan Fisher

Standard Cognition, meanwhile, focuses on retrofitting full-sized grocers and other stores, like the one in minor league baseball’s The Worcester Red Sox’s upcoming stadium, as well as others it hasn’t announced. It currently has one experimental shop of its own in San Francisco. Rollouts with partners are more challenging because the startup doesn’t design the building form factor or inventory, but is addressing a much bigger market of existing storefronts. It claims it can grow profit margins for shops by up to 100%.

Standard Cognition sees the smaller footprint spots outfitted by DeepMagic as a crucial piece of the autonomous retail landscape. So it’s acquiring DeepMagic’s technology, and bringing on co-founder and CEO Bernd Schoner as a consultant. Standard Cognition won’t pick up DeepMagic’s staffers or pilot contracts, but it’s considering how to integrate the technology as it ramps up its own deployments. “We were both tackling this problem with a strong focus on the power of computer vision, so it made sense to align ourselves with Standard,” Schoner tells TechCrunch. “We think Standard is in the best position to win this race.”

DeepMagic was mostly founder-funded, but the five-employee company had raised $150,000 from angel investors since starting in New York in 2017. Yet Standard Cognition, which was founded a few months later, raised a $35 million Series B in July from EQT Ventures and Initialized. It has become a center of gravity in cashierless tech, having pulled in half the total $118 million invested in the space in 2018. Now it’s consolidating the space with the DeepMagic buy and its acquisition of retail mapping startup Explorer.ai in January.

The purpose of the buying spree is getting to market first. “Every day, the thing is speed. I think this is going to be a very fast market. Every day counts. One of my biggest jobs is to keep everybody as motivated today as they will be in five years,” says Fisher. “Six months today will translate to 20% market share in five years. That’s crazy and it’s a huge motivating factor. Moving fast enough that we can get the lion’s share of the market is what keeps me up at night.”

The company also has to outpace fellow startups like direct competitors Zippin, Trigo and Grabango. Along the way, Standard Cognition has been focused on developing unbiased anti-theft technology that doesn’t care what a person looks like, just what items disappear from shelves. Fisher says it’s also looking into how it can make sure it doesn’t unabashedly grow unemployment. “We’re creating more jobs than we’re displacing right now,” Fisher claims, saying it needs people for data labeling to train its artificial intelligence.

Standard Cognition’s co-founder and CEO hopes Amazon will find it just as challenging if it tries to move from running its own 18 or so Go stores to equipping other businesses. The startup also hopes to capitalize on fears about how Amazon might use partners’ data the way it does in e-commerce. “I don’t think that’s minor at all. Do they get the insights? Can they leverage that to have a better offering on Amazon.com and in their brick-and-mortar stores?,” Fisher asks. “Our product offering has none of those strings attached. There’s no ulterior motives.”

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Jan
05

Startups Weekly: VCs celebrate the new year the only way they know how

Are consumers ready for meat grown in a lab?

Companies like Memphis Meats, Aleph Farms, Higher Steaks, Mosa Meat and Meatable are all trying to bring to supermarkets around the world meat made from cultivated animal cells, but the problem has always been the cost. 

Now, Future Meat Technologies has raised $14 million in new financing to build its first pilot manufacturing facilities to bring the cost of production of a cell-made steak down to $10 per pound — or $4 if the meat is combined with plant-based meat substitutes.

The $10 price tag is a whole lot lower than the $50 target that experts from the Good Food Institute were talking about back in April of this year — and represents a significant cost reduction that makes lab-grown meat a potentially commercially viable option much sooner than anyone expected.

“With this investment, we’re thrilled to bring cultured meat from the lab to the factory floor and begin working with our industrial partners to bring our product to market,” said Rom Kshuk, the chief executive officer of Future Meat Technologies, in a statement. “We’re not only developing a global network of investors and advisors with expertise across the meat and ingredient supply chains, but also providing the company with sufficient runway to achieve commercially viable production costs within the next two years.”

Unlike its other competitors, Future Meat Technologies doesn’t have any interest in selling its products directly to consumers. Rather, the company wants to be the supplier of the hardware and cell lines that anyone would need to become a manufacturer of lab-grown meat.

In a way, it’s not much different to the approach that Tyson Foods — an investor in Future Meat through its venture capital arm — has taken with farmers. Tyson contracts with poultry farmers to raise the chickens that the company slaughters and processes, and provides them with the means to raise the chickens for slaughter.

Future Meat production tanks for meat and fat

The secret to Future Meat’s success is its use of undifferentiated fibroblast cells that can be triggered with small molecules to turn into either fat cells or muscle cells. Once the fat and muscle starts growing, they’re placed in a culture with a specific resin that removes waste materials that have been an impediment to growth at large scales, according to chief science officer and founder Yaakov Nahmias.

While Future Meat doesn’t rely on fetal bovine serum to grow its meat products, it does use small molecules derived from CHO cells (Chinese hamster ovaries), which are used in new medical research and drug manufacturing.

We have a specific resin to remove the toxins from the media and that allows the cells to continue to grow,” says Nahmias. “It is essentially a new bioreactor design… you can increase the yield to 80%.. For every liter of medium you don’t get 100 grams of biomass you can get 800 grams of biomass… [and] you don’t talk about mega $100 million factories.” 

Nahmias says using a refrigerator-sized bioreactor, a manufacturer could get about half a ton of meat and fat in about 14 days. In about one month, growers can make an amount of meat equivalent of two cows’ worth of meat (a cow takes about 12 to 18 months to raise for slaughter).

The former Hebrew University of Jerusalem professor first began thinking about the lab-grown meat business while on sabbatical. “It was at a Peet’s Coffee right next to the Charles River in Cambridge,” Nahmias recalled. “Somebody asked me what I thought about cultured meat… They asked me what I thought about it and I told them it was the stupidest idea I had ever heard in my entire life.”

Growing cells is expensive, Nahmias said at the time, and the fact that the organisms basically grow in their own excrement means that they can’t reproduce effectively to reach any kind of large scale. That’s when Nahmias had his “Eureka” moment. “You need cells that grow without any growth factor at all,” says Nahmias. “The only cells that can do that are the least differentiated cells, which are fibroblasts.”

With the new financing from investors — including S2G Ventures, a Chicago-based venture firm (and an early investor in Beyond Meat); Emerald Technology Ventures, a Swiss investment firm; Tyson Ventures (one of the most active strategic investors); and Bits x Bites (a Chinese investor in food and agriculture startups) — Future Meat can now test its business model and manufacturing capabilities at scale.

Future Meat leadership, Dr. Moria Shimoni, EVP of R&D; Yaakov Nahmias, CTO and founder; and Rom Kshuk, CEO

“You’re either growing fat or you’re growing muscle of a specific species,” says Nahmias. “Imagine a large truck going to that facility. [It’s] replacing the meat packing plant. From there the biomass goes through a process like extrusion. You can have thousands of these mass producing units. [It’s] going to a central facility where the meat comes out at the end. What we are doing is looking for parity and cost.”

For Nahmias, the fat’s the thing that brings the flavor for everything. “The fat gives you the aroma and the distinct flavor of meat,” says Nahmias. “This is the missing ingredient in Impossible Foods and Beyond Meat .”

Nahmias envisions products that are made using a combination of Future Meat’s lab-grown products and plant proteins that can approximate the full flavors of beef, chicken or lamb (all meats that the company says it is working with).

All Nahmias wants is for Future Meat to get to market; the founder doesn’t care whether that’s under Tyson’s brand or anyone else’s. “I want to be the largest company you’ve never heard of,” says Nahmias. “I want to make a product that is more sustainable and more cost-efficient, and is better for everybody.”

Like all of the other companies pursuing alternatives to animal husbandry, Future Meat, which was only founded last year, has a mission to reduce the environmental impact of meat eating. The company argues that its manufacturing model will reduce land use by 99% and emit 80% less greenhouse gas than traditional meat production.

“This continues our investment in Future Meat Technologies, which is focused on disruptive technologies related to our core business,” said Amy Tu, president of Tyson Ventures, in a statement. “We are broadening our exposure to alternative ways of producing protein to feed a growing world population.”

Ultimately the goal is getting to cost parity with regular beef. The company thinks a hybrid product could be $3 to $4, while the 100% biomass product would be roughly $10.

“We’re taking a yes and ‘Yes and’ as opposed to an either-or approach to the space,” says Matthew Walker, a managing director at S2G Ventures. “You will have animal-based meat, plant-based meat and you will have hybrid products. It’s more about the supply chain and the technological products that would bring this product to market. We think there’s room in the market for somebody to play that role.”

Nahmias and Kshuk think that’s the role Future Meat Technologies was born to play.

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Oct
10

Nexkey raises $6M Series A round to make your company’s doors smarter

Nexkey, a company that provides a mobile access control solution for commercial buildings and workspaces, today announced that it has raised a $6 million Series A round led by Upfront Ventures. K9 Ventures, Mark IV Capital and Anand Chandrasekaran, the former head of Platform for Messenger at Facebook, also participated in the round. Upfront also led Nexkey’s $4.8 million seed round.

The company can turn your smartphone into your door key and replaces the badge you probably use at work to get in and out of buildings. Nexkey offers an end-to-end solution that includes the app, as well as hardware controllers and lock cylinders for your doors that can replace legacy hardware. There also is an API to allow its solutions to connect to other applications and devices inside a workspace.

In many ways, Nexkey is similar to Openpath, which raised $7 million in a seed round that also included Upfront Ventures.

“We launched our platform into the market a little over nine months ago and brought over 8,500 active users on the platform the first six months after launch,” Nexkey CEO Eric Trabold told me. “We wanted to continue this great momentum and therefore felt that the time is right to raise more capital to enable us to do so.”

Trabold says the company will use the new funding to expand to the rest of the United States its overall sales efforts from its current focus on California. He noted that the company wanted to better understand its users’ needs before expanding to other geographies.

The company also realized that it sat on a lot of data that was valuable to its customers. “We currently expose this via an audit trail right in our App and are going to build out other, more visual ways to expose this data to our customers,” Trabold said. “We’re going to have advanced reports that can be accessed or downloaded through our Web Portal. Those will help our customers to optimize how they operate their spaces, which means that they can now properly staff during peak times, analyze overall space utilization or look for anomalies that can trigger security events.”

The new funding, the company says, will also allow it to apply more resources to help it provide more value to its users based on this data.

Among the other things it learned from its early customers is that many of its users don’t always want to have their doors locked at all times and instead often want to keep them open for anybody during business hours. The company’s users that run co-working spaces and gyms also asked the company for an easier onboarding process and the ability to apply access rules to different user types, something it is currently beta testing in its iOS app.

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