Sep
28

9 tiny houses in Silicon Valley that you can rent on Airbnb (AIRBNB)

Many people travel through Silicon Valley, either for work or personal reasons. There are hotels and motels to stay in, of course, but there are also more unusual and adventurous options. Airbnb helps you find these options by letting you filter for "unusual stays," such as tree houses, yurts, or tiny houses.

Tiny houses have become popular as a way to live more sustainably and use fewer resources, and also as a way to live more cheaply and save money for other things like travel. Maybe you're thinking about living in a tiny house someday, or maybe you just want to test one out for a night or two. Either way, these 9 Silicon Valley homes are a cool way to experience the area, and tiny living.

Here are 9 tiny houses near Silicon Valley to check out on Airbnb.

Original author: Mary Meisenzahl

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Sep
28

This stunning $2.8 million Berkeley home designed by a Frank Lloyd Wright protege is now for sale

The San Francisco Bay area is home to some of the richest people in the world, and therefore, some extravagant real estate.

This home combines iconic design elements with modern amenities. Located in the Berkeley Hills, it was designed by architect Daniel Liebermann and built in 1980.

Liebermann was a protege of celebrity architect Frank Lloyd Wright, and the home bears some of his trademarks. For example, the building was clearly inspired by Wright's concept of "organic architecture," meaning that it fits into the landscape and features natural elements that occur in the area, in this case, stone slate fireplaces and wood beams.

This style principle facilitates indoor/outdoor living, which this home has by way of sliding glass walls and cutouts for water features.

Sean Walsh with Compass has the listing.

Scroll through for more photos and details about this home.

Original author: Mary Meisenzahl

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Jul
15

Hear Startup Alley companies pitch expert VC judges in upcoming episodes of Extra Crunch Live

Erik Fjellborg was flipping burgers at a McDonald's in Sweden when he saw the hassles a restaurant manager had to deal with managing schedules and shifts.

"Everytime someone wanted to book a shift or swap a shift, the manager had to go back to the back office with this huge telephone list and started to dial around for replacements, which could take hours," he told Business Insider.

Fjellborg was then a high school student with a passion for computers, and his McDonald's stint sparked an idea, software to help businesses manage a workplace better.

He was only 18 when he launched Quinyx in 2005. The startup offers AI-powered cloud software for scheduling, absence management and improving business operations, by analyzing all of its data. Quinyx has now raised $40 million from several venture capital investors, including Battery Ventures, Alfvén & Didrikson, and Zobito.

McDonald's Swedish subsidiary became one of its first customers, and Quinyx also has been embraced by the burger chain in other Nordic countries, Fjellborg said.

"McDonald's was a good starting point for the business," he said. "We still have them as a customer today, which is great."

Quinyx has not been embraced by McDonald's in the US where it based — but that could soon change, Fjellborg said. Last month, Quinyx, which now has 700 customers and 500,000 users mostly in Europe where it has a strong presence, launched its US operations, opening an office in Boston.

"We reached a certain scale in Europe, and it was a good time for us to make this move," he said.

Quinyx is competing in a growing market. The human capital management market is projected to grow from $16.4 billion to $17.9 billion this year, according to IDC.

Gartner's report on the vendors in the space cited Quinyx's focus on businesses in retail, hospitality, transportation, warehousing and health care. Its customers have between 1,000 and 10,000 employees, with its largest customer having more than 40,000.

Moving to the US was a logical next step for the company, Fjellborg said.

"We are setting up operations to take the market opportunity and grow in the most interesting and largest market in the world, he said. "We have an ambition to build a global company, so we have to be in the US market."

Here's the pitch deck Quinyx used to raise $40 million:

Original author: Benjamin Pimentel

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Sep
28

The 30 most coveted tech companies to work at, according to thousands of tech workers

Jobs at tech companies are coveted

Career marketplace Hired asked 3,600 tech workers to share who which tech companies they want to work at the most for Hired's 2019 Brand Health Report.

Read more: The 10 most inspiring leaders in tech, according to thousands of tech workers

Here are the 30 tech companies that techies are most keen to work at:

Original author: Rebecca Aydin

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Dec
24

This is why the US military has tracked Santa Claus every Christmas since 1955

Sea levels could rise more than 3 feet within 80 years. Most warm-water coral reefs are expected to die. The oceans are heating up twice as fast as they were in the early '90s.

These are just some of the worrisome findings detailed in a new report from the United Nations' Intergovernmental Panel on Climate Change (IPCC).

Read More:Sea levels are projected to rise 3 feet within 80 years, according to a new UN report. Hundreds of millions of people could be displaced.

But two other new reports point out important ways the oceans can help us address the climate crisis.

That research suggests that ocean-based activities have the potential to reduce global carbon-dioxide emissions by nearly 11 billion tons — that's 21% of the reductions needed to keep the planet's temperature from rising more than 1.5 degrees Celsius (the target set in the Paris climate agreement).

The data comes from the High Level Panel for a Sustainable Ocean Economy (HLP) — a group of world leaders and scientists — as well as an accompanying paper in the journal Science.

"We outline a 'no-regrets to-do list' of ocean-based climate actions that could be set in motion today," the authors of the study wrote.

One of those actions has to do with our diet: Getting more protein from seafood and less from meat.

The case for eating more seafood

The ship Arctic Sunrise surrounded by ice floes in the ocean near Svalbard, Norway. Christian Aslund/Greenpeace

The IPCC assessment, compiled by more than 100 authors from 36 countries, focused on the state of the world's oceans and its cryosphere — the frozen parts of the planet. The findings revise projections for sea-level rise upwards: If Earth's temperature increases by more than 3 degrees Celsius, the authors found, water levels would be an average of 3 feet higher by the year 2100.

The report "paints a gloomy picture of the impacts of climate change on the ocean, ocean ecosystems and people, and an even more dismal portrayal of what is in store unless we get serious about reducing greenhouse gas emissions rapidly," Jane Lubchenco, a co-author of the Science study and an HLP advisor, said in a press release.

The solutions Lubchenco and her colleagues highlight fall into five broad categories: producing more ocean-based renewable energy, making the shipping and transport industries carbon-neutral, protecting and restoring ecosystems that sequester carbon dioxide, storing carbon under the seabed, and shifting diets to include more seafood.

"Earth's oceans are not simply a passive victim of climate change, but instead provide a previously unappreciated opportunity to provide solutions towards reducing global greenhouse-gas emissions," the HLP authors said in a press release.

Vendors sort fish and other seafood at a market in Bangkok, Thailand, March 31, 2016. Athit Perawongmetha/Reuters

The reason to eat more seafood, according to the report, is that sources of protein from the ocean (like seafood, seaweed, and kelp) can have a substantially lower carbon footprint than meat from land animals. As two of the HLP members — Erna Solberg, the prime minister of Norway, and Tommy Remengesau Jr., the president of Palau — wrote in a CNN opinion piece, consuming more of those can both help make your diet more healthy and sustainable while easing emissions.

Approximately 3 billion people in the world already rely on wild-caught and farmed seafood as their primary source of protein, according to the World Wildlife Organization.

The fishing and aquaculture industries are not wholly carbon-neutral; however, cow, sheep, and poultry farming accounts for 18% of human-produced greenhouse gas emissions worldwide, according to The Conversation. That's a larger chunk of emissions than those from ships, planes, trucks, and cars put together.

A study published last month calculated that if every American replaced all beef, chicken, and pork in their diet with a vegetarian option, that would save the equivalent of 280 million metric tons of carbon dioxide every year. That's roughly the same as taking about 60 million cars off the road.

The potential of ocean-based renewable energy

Power-generating wind turbines at the Amrumbank West offshore wind farm near the island of Amrum, Germany September 4, 2015.Morris Mac Matzen/REUTERS

Even more impactful than dietary changes, however, is harnessing the power of the wind and waves via tidal-energy systems and offshore wind farms, the HLP group said.

Lubchenco and her colleagues say more investment is needed for research and development efforts to increase the number of floating offshore wind farms that could be built farther from shore. They also suggest that countries set clear targets for increasing the use of ocean-based renewable energy by the years 2030 and 2050.

Solberg and Remengesau Jr. told CNN that increasing ocean-based renewable energy could cut nearly 6 billion tons of carbon dioxide emissions every year by 2050. That's the equivalent of taking over 1 billion cars off the road for a year.

"To win the fight against climate change, we need all hands on deck — on land and sea," they wrote.

Original author: Aylin Woodward

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Sep
10

How to delete messages on your iPad in 2 different ways

The race to the bottom for trading commissions could soon go through the floor.

A former high-frequency trading executive is betting his newly launched investment platform can take on discount brokers and zero-commission stock trading apps like Robinhood by offering a twist on how fees are structured and disclosed to customers. That includes getting paid to trade.

Alan Grujic, who was previously the chief executive of Infinium Securities, a high-frequency trading firm in California, founded San Francisco-based startup All of Us last year with the intention of offering an investment platform with a transparent pricing model that shares some of its overall revenue from non-commission sources with customers. He says it will fully launch in January and has around 100 people on a waitlist to use its product.

"If you did a very large trade with us, you get several dollars back. So you'd literally get money into your account," he told Business Insider.

All of Us wants to base its revenue stream on a maximum 50-basis-point fee on client assets held on the platform. Grujic said under his pricing model he needs to reach $2 billion in assets to reach what he considers scale. He does see a path to that milestone within the first year — although he admits it is an aggressive goal. In an effort to drum up attention, he said the first 10,000 customers will have zero fees whatsoever for the first year.

Grujic said the new platform is targeting users with an average account size of roughly $50,000. He said that potential pool reflects both larger clients from Robinhood and smaller customers from E-Trade and TD Ameritrade.

Read more: The inside story of how Robinhood, a $6 billion investing app for millennials, blew a huge launch so badly that Congress got involved

Grujic, along with chief technology officer Iain Clarke, demoed the project at Finovate, a fintech industry conference in New York this week. He supplied the first $2 million in funding for All of Us, then raised an additional $1 million on a convertible note offering led by Apex Clearing, which offers clearing and custody services for many robos and online brokerages. The platform hopes to raise an additional $1 million before the end of 2019.

The competitive nature of the business was on full display this week. The discount brokerage firm Interactive Brokers said on Thursday it would roll out a commission-free US offering starting in October for US-listed stocks and exchange-traded funds. Interactive Brokers' announcement promptly sent shares of Charles Schwab, TD Ameritrade, and E-Trade diving.

Charles Schwab offers clients opening an individual brokerage account 500 commission-free online stock and options trades within two years of signing up. TD Ameritrade offers 500 commission-free online stock, options, and exchange-traded fund trades when a new client deposits $3,000 or more.

And Business Insider reported that JPMorgan's You Invest retail trading platform housed on the Chase website and app has quietly started rolling out options trading to select customers. Options trading fees are $2.95, plus 75 cents per contract. Robinhood launched a zero-commission options trading product in 2017.

You Invest has offered users 100 free stock trades a year, which can also scale up based on account size and level of service they have with Chase.

Read more: JPMorgan is taking aim at apps like Robinhood by quietly rolling out options trading to select You Invest customers

Traditional discount brokers may earn a commission on trades they handle, although that is under pressure industry-wide with apps like Robinhood offering free trades. But brokers can also earn revenue from things like an interest spread on client cash accounts, lending client shares, and from channeling clients' orders through certain traders.

That income amounts to unquoted costs for the customer, Grujic said. And so instead, All of Us would set a maximum fee — 50 basis points — based on the size of a customer's portfolio that reflects all of those kinds of costs.

And All of Us will refund to customers anything that it takes in over that 50-basis-point benchmark. As an example, the fledgling firm says a member with a $100,000 account would generate a maximum of $500 annually for the company, inclusive of the various revenue streams.

"Those revenue streams are fine, but they're hard to understand," Grujic said. "The transaction isn't obvious. You don't pay that, so you don't know that is your revenue stream."

Alan Grujic is the chief executive of All of Us. All of Us

Read more: Meet the 8 key players leading the most innovative tech projects on Wall Street, from massive integrations to building new banks

In particular, selling customers' buy-and-sell orders to sophisticated high-frequency traders, a practice known as payment for order flow, has come into the spotlight. While the practice is completely legal and not uncommon in the space — E-Trade, Schwab and TD Ameritrade all do it — it is not something that is directly reflected in a commission price tag seen by the customer.

Robinhood, which charges no trading fees, in particular has drawn criticism for not fully explaining the practice to users. Payment for order flow was more than 40% of Robinhood's total revenue, Bloomberg has reported. Robinhood founder Vlad Tenev eventually addressed the topic directly via a blog post in October 2018, denying that the practice affects prices and saying Robinhood sells order flow to the firm that is most likely to give you the best execution quality.

Grujic said All of Us plans to reimburse a third of what it generates for selling its order flow directly back to customers, and potentially more later in the year as long as it covers its 50-basis-points fee.

"Everything is becoming free in trading because it actually is something that gets paid for by market-makers," Grujic said. "There is value to that order flow, and it's been monetized. The reason is it's coming down to zero is because there is actually money being made on it."

As firms have pushed to charge less, or nothing at all, they've been forced to lean more heavily on other revenue streams, or create new ones altogether.

"Forget about trying to explain it in detail. Let's post right on our platform how much we make in our customers in revenue," Grujic said.

Read more: 2 senior executives are now out at Charles Schwab as the discount broker prepares to cut 600 jobs

Discount brokers have been under even more pressure as US interest rates fall. Charles Schwab, which has also been making moves to expand advisory services and is set to close its acquisition of USAA next year, is cutting 600 jobs, and that comes on the heels of high-profile exec exits and restructuring first reported by Business Insider. Earlier this month, we reported some more exec departures in its retail arm as those job cuts take hold, as well as the exit of a prominent markets analyst.

TD Ameritrade and E-Trade have seen executive shakeups at the very top, with CEO departures announced within weeks of each other this summer.

Original author: Dan DeFrancesco and Rebecca Ungarino

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Sep
28

Meaningfully Impacting the Economy in The Philippines: John Jonas, CEO of OnlineJobs.ph (Part 4) - Sramana Mitra

Sramana Mitra: When was this launched? John Jonas: 2009. Sramana Mitra: How did the revenue ramp up on that one? John Jonas: It was slow. I was teaching how to hire people in the Philippines. We had...

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Original author: Sramana Mitra

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Feb
05

The Zebra raises $38.5M as the insurance marketplace race heats up

Earlier this month, McDonald's concluded a review of its US marketing strategy by assigning lead creative duties to independent agency Wieden and Kennedy.

The move took many in the industry by surprise three years after the world's biggest fast-food brand consolidated work in its most important region with holding company giant Omnicom. But what did the move really mean for the market?

Was it yet another sign of weakness for the Big Six holding companies that control most of the world's ad spend? A strike against the industry narrative that places data over creative quality when determining the value of ad work? Or was McDonald's simply an outlier?

See what the winning agency had to say: Internal memo from McDonald's new ad agency reveals why the world's biggest fast-food chain bucked industry trends to reshape its marketing strategy

Wieden and Kennedy leadership told staff that the decision was a victory for traditional, back-to-basics storytelling. In the note, the agency's copresidents said incumbent We Are Unlimited "forgot the power of creativity (or arguably didn't have much to offer)" and all but dismissed the original pitch, which promised to place data "at the core of everything they did."

Read more about how Omnicom won the account three years ago: Internal documents reveal how ad-holding-company giant Omnicom won the $800 million McDonald's account and used its model to pitch other advertisers

Omnicom promoted its "agency of the future" model back in 2016 by hyping cross-agency integration and "embedded teams" from Google, Facebook, and Twitter along with its ability to turn insights gleaned from social media into promotional content. The holding company framed this approach as unique even though it was similar to offerings from other agencies.

The holding company will fold its once-dedicated division into parent company DDB: McDonald's demanded that Omnicom create an ad agency dedicated to its business. Now that unit will fold.

While the holding company retained the vast majority of its McDonald's business around the world, the loss was significant enough to spark a significant strategic shift. Sources confirmed to Business Insider that the dedicated agency We Are Unlimited, which was founded as a standalone business, will soon become part of parent company DDB.

Check out an insider's view of how the agency-client relationship broke down: McDonald's and its ad agency sparred over a bizarre campaign stunt involving an LP made entirely of bacon. The agency later lost the majority of the account.

Disagreements between agencies and their clients are a daily fact of life in the ad industry. But one particularly crazy instance for McDonald's and Omnicom involved a pitch for a record made entirely of bacon to promote the chain's new "bacon week" deal.

The move could signal a new approach to conflict management for big spenders: Advertisers have long avoided sharing agencies with competitors. McDonald's just abandoned that tradition, and other big brands could follow suit.

The most interesting aspect of the McDonald's shift, according to several industry analysts, is the fact that Wieden and Kennedy will now simultaneously work with rival KFC in a reversal of both chains' exclusivity politices. If this turns into a trend, it could be good news for brands and agencies alike.

Original author: Patrick Coffee

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Dec
24

Google in 2018: The good, the bad, and the ugly (GOOG, GOOGL)

For years, Wall Street has been trying to figure out which part of Alphabet's business — beyond Google Search ads — will emerge as its next big money maker.

There's the cloud computing division, gaining momentum, but still a distant third behind market leaders Microsoft and Amazon. And there's the Waymo self-driving car initiative, developing a robotaxi service that could change the way people travel.

But according to a recent note by RBC Capital analyst Mark Mahaney, the Alphabet asset with the most potential to become a revenue machine is Google Maps, the digital mapping product that has already become an essential part of more than one billion people's lives around the world.

Calling Maps one of the "greatest under/un-monetized" online platforms in the world, Mahaney recently flagged the app as his basis for boosting his price target for Alphabet's stock, projecting that Maps will deliver an additional $1.9 billion to $3.6 billion in revenue by 2021.

Although Google does not share its specific revenues from Maps today, Mahaney estimated that the navigation product — first released more than 14 years ago — would generate over $3.5 billion in revenue in 2019. The total revenue for Google's parent company, Alphabet, was over $130 billion in 2018.

The optimism about Google's trusty Maps product comes as newer initiatives face skepticism. Morgan Stanley slashed its estimated valuation of Alphabet's Waymo by 40% last week.

The investment firm said in a research note that it believed Alphabet's self-driving car business was now worth $105 billion, instead of $175 billion, because of Waymo'rs delays and complications launching a commercial business.

Google's 2 apps give it a massive mapping market share

Google Maps, on the other hand, doesn't have question marks surrounding its consumer viability. As Mahaney noted, navigation apps have become "something of a utility," with 77% of smartphone owners using them regularly, according to a study cited in the report.

That widespread usage is good news for Google, as the note also highlighted the company's massive, 80% market share of navigation apps today, which is split between Google Maps (representing 67% of the market, according to the report) and Waze (which represents 12%).

Between Google Maps and Waze, Google owns around 80% of the navigation app market share. RBC

As Google looks to prove that there's diversity in its revenue potential beyond traditional search ads, Mahaney's note should provide a bit of relief to Wall Street. Instead of having to wait years for some of the tech giant's long term bets to start paying off, Mahaney shows that the company can make incremental changes to existing properties — like Maps — and create major upside to its bottom line.

Ads are the major revenue driver for Maps, but there's still room for more.

Today, Maps primarily makes money by selling advertisements to businesses, even though Google has repeatedly said that it doesn't want those ads to distract from its navigation features. Having to toe that line between maximizing profits while maintaining its user experience has forced the Maps team to be creative with its ad formats.

For instance, when a user opens up Maps and sees reference points for nearby businesses, some of those reference points — known internally as "Promoted Pins" — are paid for by businesses themselves.

Google also offers "Local Search Ads" in Maps. Say, for instance, a user wants a haircut and types "barber" into the search bar on Maps. When they do so, a list of nearby barbershops will appear and sometimes, the top result will be a paid ad.

Ads are in Maps, but sometimes can go unnoticed by the user. RBC

Still, Google doesn't seem to be as aggressive as it could be with ads within Maps.

In a study carried out by RBS, the firm found that Local Search Ads on Maps appeared in 48% of searches on desktop, while only 21% of the time on mobile. And since most of Google Maps' usage comes from mobile (90% of total traffic happens on a smartphone, the study claims), Mahaney said the product, "has a long way to further monetization."

Specifically, Mahaney said that if Google increased its Maps ad loads on mobile to levels closer to its desktop product, the company would increase revenues by over $3 billion within the next two years.

Allowing small to medium-sized businesses to advertise on Maps could unlock major revenue.

Mahaney also said beyond increasing the sheer number of ads on mobile, he's been impressed with Google's efforts to expand and diversify its ad offerings.

At this year's Marketing Live event — the company's annual conference for advertisers — Google said it would be opening up Local Search Ads to small to medium-sized businesses (SMBs), a segment that Mahaney said "constitutes the majority of advertisers on Google," but previously couldn't advertise on Maps. Google did not say when this option would be available to SMBs beyond that it would be happening "soon," but Mahaney said his team was already starting to see smaller businesses advertising on Maps while conducting their research.

Read more: The Pixel watch that never was: An inside look at how Google's smartwatch efforts beat Apple to the punch, but then broke down and never recovered

Beyond opening up to SMBs, Google also said at Marking Live it would roll out new ad products on Maps. One such product — which Mahaney's team dubbed the "Suggested Stop Ad" — asks users, like the name implies, if they'd like to add a stop along their route for a business that paid for the suggestion.

"Suggested stops will be based on proximity to the route and Google's typical user data-driven recommendations," Mahaney said. "Google's Waze has been experimenting with similar (and more intrusive) navigation-based ad formats since at least early 2018 and this ad format has clearly taken some inspiration from the strategic asset."

"Suggested stops" are a new ad option on Google Maps. RBC

Interestingly, Waze, which was acquired by Google in 2013 but kept as a separate app since then, has proven to extremely valuable to Google Maps, Mahaney said, especially when testing new ad formats.

With a smaller user base (90 million versus over one billion for Google Maps), Waze has the freedom to introduce new ad products on more of a whim. If they prove to be a success without distracting from the overall experience, those ad products can be moved over to the Maps mothership.

"In our view, Waze provides Google with a tool to test and iterate on monetizing Navigation without disrupting its much larger Google Maps asset," Mahaney said.

In what was more of a sidenote, Mahaney also touched on the alternative way that Google Maps makes money — allowing businesses to leverage its Maps service via the product's APIs.

Although only ad growth potential was considered in Mahaney's recent upgrade, the RBC director did allude to the growing importance of this particular revenue channel, especially for ridesharing companies. Uber, for instance, recently disclosed that it had paid Google over $50 million to integrate Maps into its apps for drivers and consumers, and Mahaney said he believes that number will only grow over the years.

"Though advertising revenue remains the primary near-term benefit of this asset, we believe the long-term importance of owning Navigation goes far beyond that," he said.

Original author: Nick Bastone

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Dec
22

Slack apologizes after users who travelled to Iran had their accounts shut down

Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy news pertaining to startups and venture capital. Before I jump into today’s topic, let’s catch up a bit. I’ve been on a bit of startup profile kick as of late. Last week, I wrote a little bit about Landline, a bus network backed by Upfront Ventures. Before that, I profiled an e-commerce startup called Part & Parcel.

Remember, you can send me tips, suggestions and feedback to This email address is being protected from spambots. You need JavaScript enabled to view it. or on Twitter @KateClarkTweets. If you don’t subscribe to Startups Weekly yet, you can do that here.

Startup Spotlight

I’ve made a habit of highlighting one startup per week in this newsletter, so why stop now? This week, I want to talk about Alpha Medical, an early-stage healthtech startup on a “mission to rebuild women’s healthcare,” founder and CEO Gloria Lau tells TechCrunch.

The early-stage telemedicine business, which focuses on providing reproductive and dermatological care online, launched its membership program this week and expanded into three new states: Georgia, Washington and Virginia.

Alpha Medical co-founders Dr. J (left) and Gloria Lau.

The company, now active in nine states, has raised $11 million to date from DCVC and AV8, among others, including a recent $10 million Series A. It’s certainly not as well-financed as some of the top telemedicine businesses, like Hims, Ro and Nurx. But Alpha has had something special from the get-go: medical expertise. The company is led by a techie in Lau but its secret weapon is Dr. J. Co-founder and chief medical officer Mary Jacobson, or Dr. J, is an obstetrician, gynecologist and minimally invasive surgeon with extensive experience in clinical care, medical education, hospital operations and research.

There have been and will continue to be many “health tech” companies backed with millions by venture capitalists. But many of these are really just consumer brands with health buzzwords stamped on top. The real winners, I think, will be startups with true medical expertise coupled with tech know-how.

“We are female founders — women building this for women,” says Lau. “We understand the pain point so well.”

IP-woes

WeWork’s eccentric CEO/founder Adam Neumann stepped down this week amid pressure from board members (SoftBank) to exit the C-suite. Wall Street doesn’t think Neumann is fit to be CEO of a public company and if you don’t know why, read this WSJ piece. For more details, listen to this episode of Equity we recorded earlier this week.

What’s next for Peloton? International growth? Doubling down on original content? New hardware? Tell me what to write.

— Kate Clark (@KateClarkTweets) September 26, 2019

Peloton, the fitness tech company that sells really expensive stationary bikes and treadmills, debuted on the NASDAQ on Thursday. They raised more than a billion dollars in the process, so that’s good, but their stock is already struggling. For one, it opened at below its initial price of $29 and closed at about $25, or 11% down. That makes us a bit nervous for the company moving forward. Still, they are well-financed and have plenty of money to put to work.

VC deals

Once dubbed ‘America’s most hated startup,’ Bodega has quietly raised millionsBeyond Pricing raises $42M to tell you what to charge on AirbnbMercury banks $20M for its banking service aimed at startupsWith $20M in funding, electronic stethoscope startup Eko wants to research your beating heartTerminal nabs $17M to source and build remote teams of engineersGatsby raises $15M Series A for modern web development platformIndia’s Darwinbox raises $15M to bring its HR tech platform to more Asian marketsUsing AI to improve dentistry, VideaHealth gets a $5.4M polish

What else?

This was the biggest news week in history. Fortunately, I only need to tell you about startup news… Still, there was a lot of that too. Here are just a few other things I’ll highlight that might have slipped through the cracks.

DoorDash confirmed a massive data breach. Here’s what you need to know: It impacted 4.9 million customers, workers and merchants who were using the platform prior to April 5, 2018. The company is blaming the breach on a “third-party service provider,” but the third-party was not named…All the scooters are coming back to San Francisco. Here’s what you need to know: JUMP, Lime, Scoot and Spin were all granted permits to operate their respective services in SF beginning Oct. 15 as part of the city’s longer-term permitting program for electric scooters. If you remember, Lime was previously denied a permit, while Skip was given the green light. This time around, Skip got the boot and Lime was given the go ahead. Oh how times have changed!Uber launched an incubator. Here’s what you need to know: Uber wants to make sure some of its best, most entrepreneurial employees are happy and their tech is at its best. To do this, it’s created an incubator open to employees and those outside the organization to develop products and services on top of Uber’s platform.

TechCrunch Disrupt San Francisco, our flagship event, is right around the corner. Next week, October 2 through 4th, the entire TechCrunch staff will gather from all corners of the world to interview leaders in technology and venture capital. From Snap CEO Evan Spiegel to Joseph Gordon-Levitt, actor and founder of HitRecord, to a16z’s crypto expert Chris Dixon, we’ll have something for everyone.

Newsletter readers can get 20% off tickets by using this link. Hope to see you all there.

Finally, listen to Equity

We recorded not one but two Equity episodes this week because, well, the news just wouldn’t stop. The first was a guide on the WeMess. You can listen to that one here. In the second episode, we tried to hit on everything else that happened this week, from Peloton’s listing, to Vox & NYMag’s merger, to Bodega’s quiet funding and Kapwing’s $11 million Series A. Listen to that one here.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts.

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Sep
27

Not all is predictable on Facebook’s social Horizon

Most of the people I spoke with at Facebook’s Oculus Connect see the proliferation of virtual reality as a foregone conclusion, one that’s just a matter of timing at this point. For Facebook, the conference’s “The Time is Now” catchphrase showcased that they feel their hardware is ready for everyone.

But despite the success they feel like they’ve tapped into when it comes to hardware iterations, the company’s bread and butter social networking prowess feels like it’s barely improved in-headset in the past several years of VR experimentations.

“On the social side, looking back, it’s kind of embarrassing all of the stages we’ve gone through at Oculus,” Oculus CTO and veteran programmer John Carmack conceded onstage during his signature rambling annual keynote, noting that his own social APK was followed by Oculus Rooms, Oculus Venues, Facebook Spaces and now the company’s latest shiny pearl Facebook Horizon.

Horizon’s debut this year included a flashy trailer for what quickly seemed to be the company’s biggest gamble and first potential social hit, a massive multi-player online world. In introducing the software, Zuckerberg talked about people-centric software as Facebook’s “bread-and-butter,” noting, “We build a lot of the best social experiences for phones and computers, and we want to do this for virtual reality as well.”

But Facebook does not actually appear to hold that much of an advantage over much smaller game studios in terms of understanding how to make social virtual reality experience take off.

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Sep
27

458th Roundtable Recording on September 26, 2019: With Alok Nandan, Emergent Ventures - Sramana Mitra

In case you missed it, you can listen to the recording here:

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Original author: Maureen Kelly

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Sep
27

Why Maxar CTO Walter Scott thinks now is the time to address the orbital traffic boom

The number of objects in orbit around Earth has been growing, and growing fast. Before 1957, of course, there were a total of zero human-made objects in the orbital region of outer space just beyond Earth’s atmosphere. There were 4,987 satellites orbiting the globe at the start of this year, according to the U.N. Office for Outer Space Affairs, which is up nearly three percent from the year before. 2017 was a record year for orbital object launches, but with ambitious new satellite constellations planned by SpaceX and others, that’s a record that’s likely to be beat in relatively short order.

Nor are all of those satellites equipped with modern technology: All told, 8,378 objects have been launched to orbit according to the UNOOSA records, and a sizeable percentage of those spacecraft are more than a few years old.

In fact, earlier this month, Bigelow Airspace was informed by the U.S. Air Force that there’s a 5.6 percent chance that one of its satellites could collide with a Russian ‘zombie’ satellite no longer in operation, and one of Starlink’s satellites had a near-miss with one operated by the European Space Agency.

A new industry organization called the Space Safety Coalition has just issued guidelines outlining best practices for companies operating spacecraft in low-Earth orbit, with signees including Immarsat, Iridium, Planet, Rocket Lab, Virgin Orbit and more.

I spoke with Walter Scott, the Chief Technical Officer of publically-traded space tech company Maxar Technologies, about the new initiative, in which longtime space operator Maxar is a founding member, and why now is the right time for the satellite industry to self-regulate when it comes to sharing low-Earth orbital space.

“The best time to solve a problem is before it’s a crisis, even though that doesn’t seem to be normal human behavior,” he told me.

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Aug
21

1Mby1M Virtual Accelerator Investor Forum: With Amos Ben-Meir at Sand Hill Angels (Part 2) - Sramana Mitra

…And see other pitchdecks get the teardown treatment from top early-stage investors Charles Hudson (Precursor Ventures), Anu Duggal (Female Founders Fund) and Russ Heddleston (CEO of DocSend). If you’re attending Disrupt, you’ll get an email with instructions on how you can submit your deck and if you are selected, you can get feedback directly from them in a workshop setting.

If we use your deck, we’ll also provide you a free ticket to any TechCrunch event of your choosing next year. 

This is part of a new project to make Disrupt even more focused on founders. We’re already offering the Extra Crunch stage, where you’ll get lots of time to ask questions yourselves in addition to hearing their interviews. For this additional project, we’re setting up workshops with experts on our Q&A stage where they’ll be going over the actual founder problems.

These folks have seen everything, so they will have a gut sense for how generalized advice can be applied to your specific team and market — the nuance that can compellingly explain your strengths and weaknesses. Hudson and Duggal have written some of the first checks for some of the most interesting startups today. The Athletic, Clearbanc, Incredible Health, Sudo and Pico are names you may recognize from the Precursor portfolio; Tala, BentoBox, Thrive Global and WayUp are a few of the many on Female Founder Fund’s list.

Heddleston, meanwhile, is a repeat founder who now has some of the best insight into trends in funding through his current company, DocSend . As you may have read on TechCrunch already, the company provides document management for a large portion of startup founders out there, allowing them to share anonymized data with DocSend about how investors are reading their pitch decks. He’ll provide a data-driven founder perspective.

Attendees will be notified via email on how to submit their pitch deck. If you want to submit your deck for review, get your pass to the event here and we’ll send out an email with instructions on how to submit your deck.

Please note: The workshop is open to conference attendees and is officially on the record. Other investors and members of the media may be in the workshop and see what you have in your deck, so plan accordingly.

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Sep
27

Thought Leaders in Big Data: Eastbanc Technologies, Chairman Wolf Ruzicka and Polina Reshetova, Head of Data Science (Part 1) - Sramana Mitra

Eastbanc Technologies is a services company that has spun off a number of product companies based on their services business. More recently, their focus has been on AI and Big Data. Sramana Mitra: If...

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Original author: Sramana Mitra

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Sep
27

TC’s Greg Epstein and Kate Clark talk mental health startups and the ‘Cult of the Founder’

Some weeks, tech ethics is in the news. And some weeks, it IS the news. This week was one of the latter.

There were so many ethically fraught news stories about technology companies over these past few days, I had trouble keeping track of them all. So I’m delighted that my latest interviewee for this series on ethics and technology is TechCrunch’s own Kate Clark, a reporter covering startups and venture capital.

Kate is one of the tech reporters on whom I rely most heavily for insight into what the hell is going on in Silicon Valley, and not just because she’s prolific, a fine writer, and so hardworking she seems to attend every VC dinner and startup product launch in Northern California (though she is all of those things).

I also turn to her (well actually, I turn to her Twitter — we’ve never met in person) because, though she would never claim to have any special training or authority in ethics, she has three of the top qualities I look for in an ethical leader: a passion for equitable inclusion; a well-modulated bullshit detector; and enough compassion for humanity to expect better of us all.

When Kate and I spoke on Wednesday afternoon, she was as harried as you might expect, at least based on her tweets.

Image via Twitter / Kate Clark / @KateClarkTweets

Alright anyone else that tries to generate headlines today is selfish and rude and must be stopped!!!

— Kate Clark (@KateClarkTweets) September 25, 2019

Greg Epstein: I’ve been looking forward to talking to you for a while now, and I certainly picked a busy day.

Kate Clark: Not as bad as yesterday.

Epstein: I follow your work closely; it informs mine. I’m sitting here in Cambridge, Massachusetts, where I work, and I’m thinking about the ethics of technology.

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Aug
17

Thought Leaders in Online Education: Niall McKinney, President of Avado (Part 3) - Sramana Mitra

Entrepreneurs are invited to the 459th FREE online 1Mby1M mentoring roundtable on Thursday, October 3, 2019, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. If you are a serious...

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Original author: Maureen Kelly

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Sep
27

Best of Bootstrapping: Big Barker CEO Bootstraps a Niche E-commerce Brand - Sramana Mitra

We’ve talked about niche, proprietary e-commerce brands and how entrepreneurs are building businesses around different concepts. CEO Eric Shannon shares the story of Big Barker, a dog bed for large...

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Original author: Sramana Mitra

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Dec
21

The world's most popular video game chat app is now worth more than $2 billion, as it gears up to take on the makers of 'Fortnite'

According to a Zion Market Research report, the global talent management software market is estimated to grow 10% annually to $10.9 billion industry by the year 2025 from $5.6 billion in 2018. Santa...

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Original author: MitraSramana

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Sep
10

Peloton plans to raise as much as $1.3 billion in an IPO that would double its valuation to $8 billion

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

As with yesterday, Kate and Alex were both on-site at TechCrunch’s San Francisco headquarters to chat over the latest. Unlike yesterday, however, Equity brought along a guest: Sean Dempsey from Merus Capital. (Merus writes seed and Series A checks, with a focus on enterprise companies.)

And thus the three dove into the news. Early-stage first, to shake things up.

Early-stage

Kate wrote a story this week about a startup you might have forgotten about but who’s name probably rings a bell. Bodega! The company now goes by Stockwell, actually, and they’ve raised a whopping total of $45 million in VC funding. But what’s in a name after all? We debate.

Next we turned to an interesting company called Kapwing. What’s that you ask? “It’s a laymen’s Adobe Creative Suite built for what people actually do on the internet: make memes and remix media,” says TechCrunch’s Josh Constine. We’re intrigued.

Late-stage and beyond

This week Peloton priced and went public. The firm’s $29 per-share IPO price was top of its proposed range ($26 to $29). The public markets, however, decided that the unicorn had reached too high.

So, shares of the high-end exercise company dropped, wrapping the day down about 11%. A good IPO first day this was not, though the company did manage to raise more capital than it might have with more conservative pricing. (Peloton has a yucky multi-class share structure that we touched on as well; it seems that all the big companies these days are opposed to regular governance.)

Next we turned to the Vox-NYMag merger. It’s a bit out of our territory but it’s a digital media deal, so we were interested. After all, the two of us have spent our entire careers in digital media and we have a vested interest in these companies surviving.

WeWork (Redux)

We honestly tried to get all the WeWork out of our system yesterday. We wanted to include zero WeWork content on this episode. But WeWork keeps doing things, so here we are.

Keeping things as brief as we can, WeWork is going to divest some companies that it bought (more on what we thought it was up to, here) including its jet, and the firm is looking to take on more capital. Unsurprisingly.

All that and we’re done for this week. Chat you all at Disrupt!

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple PodcastsOvercastSpotify, Pocket Casts, Downcast and all the casts.

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