Mar
16

10 things in tech you need to know today

The heart of every major galaxy is thought to contain a supermassive black hole — a place where gravity is so strong that anything, including light, gets devoured.

Like all black holes, supermassive ones form when stars collapse in on themselves at the end of their life cycles. On average, they're millions of times more massive than the sun.

For years, scientists have struggled to capture a black hole on camera, since the absence of light renders them nearly impossible to see.

But on April 10, a group of scientists from the international Event Horizon Telescope Collaboration released the first-ever photograph of a supermassive black hole to the public. Though the image was fuzzy, it signified a major milestone for space research.

The accomplishment has now earned the team a 2020 Breakthrough Prize, which was awarded on September 5. The prize was started eight years ago by a team of investors including Sergey Brin and Mark Zuckerberg, and is often referred to as the "Oscars of Science."

The Event Horizon Telescope Collaboration (EHT) team will collectively receive $3 million, but the money will be divided equally among the group's 347 scientists, giving each person around $8,600.

What the black hole photograph shows

The April image captured a supermassive black hole at the center of the Messier 87 galaxy, which is about 54 million light-years away from Earth. The black hole in the photo likely had a mass equivalent to 6.5 billion suns.

Black holes are defined by a border called the event horizon: a region of space so dense with matter that not even light can escape its gravity. This creates a circular "shadow," where all light and matter is gobbled up.

Outside the event horizon, supermassive black holes have an accretion disk — clouds of hot gas and dust trapped in orbit. Though scientists can't see beyond a black hole's event horizon, they can detect the gas and dust in that disk, since the material gives off radio waves that can be captured by a high-powered telescope.

This is what EHT scientists captured in their groundbreaking image.

An artist’s impression of a rapidly spinning supermassive black hole surrounded by an accretion disc. Key features of black holes are labeled in red.ESO, ESA/Hubble, M. Kornmesser; Business Insider

"As a cloud of gas gets closer to the black hole, they speed up and heat up," Josephine Peters, an astrophysicist at the University of Oxford, told Business Insider in October. "It glows brighter the faster and hotter it gets. Eventually, the gas cloud gets close enough that the pull of the black hole stretches it into a thin arc."

To capture the image, researchers relied on 8 telescopes

The EHT scientists are stationed all over the world, at 60 institutions across 20 countries.

To capture the photograph, they relied on eight radio telescopes, operating in Antarctica, Chile, Mexico, Hawaii, Arizona, and Spain. They used a network of atomic clocks — extremely precise time-keeping devices that can measure billionths of a second — to sync up the telescopes around the world.

Event Horizon Telescope Collaboration

The EHT project began collecting information about black holes in 2006.

The image released in April was the result of observations that started two years prior.

"It feels like looking at the gates of hell, at the end of space and time," Heino Falcke, an Event Horizon Telescope collaborator, said when the photo was published in April.

Original author: Aria Bendix

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Sep
05

Palantir's IPO could be delayed until 2023 as the embattled, Peter Thiel-founded data firm looks overseas for private funding

The controversial data-analytics company Palantir may be pumping the breaks on going public.

On Thursday, Bloomberg reported that the Palo Alto, California-based tech firm — most recently valued at $20 billion — was in talks with private investors to raise "significant funding." Previously, Palantir was reportedly targeting an initial public offering in 2020.

Palantir has courted Singapore's Temasek Holdings as well as the Japan-based SoftBank Group and other non-US investors to participate, Bloomberg said, citing people familiar with the matter.

Palantir's cofounder and chairman, Peter Thiel, told employees recently that the company would not be going public within the next three years, Bloomberg reported. That could set a Palantir IPO date back to 2022 or 2023.

Palantir did not immediately respond to Business Insider's request for comment.

Palantir, which has never been profitable, had reportedly been making efforts to gear up a public offering, which included hiring its first sales team and eliminating lavish employee perks, like 13-course tasting-menu lunches, that could raise eyebrows among public market investors. Employees were also reportedly no longer allowed to expense last-minute international airfare and at least one person was fired for expensing off-the-wall purchases like lingerie.

Read more: This $20 billion startup is reportedly cutting lavish perks as it tries to kill its employees' 'entitlement syndrome' ahead of a possible IPO

Because of Palantir's work with the US military and government agencies, the data-mining firm has long been subject to scrutiny by outside critics. Most recently, Business Insider learned that Palantir employees themselves were becoming increasingly split over the company's ties to government work — specifically its business dealings with Immigration and Customs Enforcement, the federal agency involved in detaining and deporting people over immigration violations.

Original author: Nick Bastone

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Mar
16

Goldman Sachs just announced its first partnership for transaction banking as it looks to build a new $1 billion business moving money around the world

Tuesday might go down as a turning point for the cloud-storage company Box.

According to a regulatory filing, the activist hedge fund Starboard Value purchased 11 million shares of the company, giving it a 7.5% stake. That makes Starboard the third-largest stakeholder in Box, behind Vanguard Group and BlackRock.

Starboard's involvement is poised to put Box's cofounder and CEO, Aaron Levie, in a predicament, several reports note, because the hedge fund has a track record of waging intense proxy battles for company ownership, ousting existing management, and spearheading major acquisitions.

Perhaps most notably, Starboard is credited with helping make it possible for Verizon to acquire Yahoo in 2016, after it successfully negotiated control of four board seats.

Read more: Peloton's CEO once bragged on TV that the company was 'weirdly profitable,' but the startup's IPO filing reveals years of losses

In the filing disclosing its stake, Starboard said only that Box was "undervalued and represented an attractive investment opportunity."

Levie seconded that sentiment Thursday. "In the case of Starboard and many of our investors, there's a belief we're undervalued right now and there's an opportunity to grow that value," he said onstage at the TechCrunch Sessions Enterprise event in San Francisco.

To that end, Business Insider spoke with several analysts, and the consensus appears to be that Starboard's most likely play is to pressure management into improving the company's profit margins. That could force Box to cut costs — which could mean layoffs. Besides that, the analysts said, Box could well end up get gobbled up by a larger tech company.

"Starboard, as a more value-oriented activist, saw a very good product here and a company that was, let's say, still trying to figure it out and maybe hasn't fully adapted to the fact that the growth rate of the business is a lot lower than they expected it to be a couple of years ago," Jason Ader, a cohead of technology equity research for the analyst firm William Blair, told Business Insider.

Amid all of this, Box has had a difficult year on the public markets, even as it continues to compete with cloud behemoths like Google and Microsoft in enterprise cloud storage. At the time of writing, it was trading at about $17 a share. That's up from the $15 or so it was trading at before Starboard announced its stake but well below its 52-week high of about $25.

"The company is in this purgatory between growth investors and value investors right now, which presents interesting opportunities for activism," Ader said. "An activist could really accelerate growth and attract growth investors, or try to accelerate profitability to attract value investors, but I would think it's more the latter with Starboard."

"While we do not comment on interactions with our investors, Box is committed to maintaining an active and engaged dialogue with stockholders," a Box spokeswoman told Business Insider. "The Board of Directors and management team are focused on delivering growth and profitability to drive long-term stockholder value as we continue to pioneer the Cloud Content Management market."

That, too, echoes Levie's comments on Tuesday.

"We're extremely focused on accelerating our growth rate," Levie said. "With Starboard or any other investor, that's what we tend to be focused on."

Here's what we know about Starboard and what its investment may mean for Box's future.

Rosalie Chan contributed reporting to this story.

Original author: Megan Hernbroth

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Sep
05

Looks like Medium is testing a way to save articles across the web

Medium seems to be building a tool to save and reformat online articles for future reading.

That’s according to Jane Manchun Wong, a reliable source of scoops on unreleased features. Wong said she spotted this one by reverse engineering Medium’s Android app and monitoring network traffic.

The “Save to Medium” feature appears to scrape web pages, then create a new, unlisted story on Medium. If deployed, it would mean Medium becomes not just a publishing platform, but also a product like Instapaper, which you could use to read content from around the web.

It also involves stripping the content of the publisher’s ads and moving it out from behind their paywalls. That doesn’t sound too different from existing reader apps — in the experience of other TC writers, Instapaper and Pocket can get around paywalls, albeit inconsistently — but Wong argued that it could be a more complicated situation for Medium, as it’s a publisher itself and operates a subscription paywall of its own. (The company was founded and led by Ev Williams, who’s pictured above.)

Medium is working on “Save to Medium”

This could turn Medium into a reader app

I wrote about my thoughts and security analysis: https://t.co/yZNLsthPsD pic.twitter.com/doNwpLplcB

— Jane Manchun Wong (@wongmjane) September 5, 2019

Still, Wong also noted that the feature is likely to evolve before it’s actually released, and she said, “If I may suggest, there are many ways for the media and news publishers to collaborate. Blocking Medium’s ‘Save To Medium’ scraper from accessing the site should be the last resort.”

When asked about this, Medium sent the following statement from Vice President of Product Michael Sippey: “Nothing to talk about now, but we’re always experimenting with ways to bring great reading experiences to Medium users.”

Update: A Medium spokesperson said that if this was released, any final version would respect publisher ads and paywalls.

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Sep
05

This already cheap laptop from Lenovo is on sale for under $200 at Best Buy right now — over $100 off its original price

If you're in the market for a new laptop, but don't want to spend a ton of cash getting one, then Best Buy may have a deal for you. Right now, you can get a new Lenovo 15-inch laptop for an impressively affordable $179.99— which is $120 off its normal price.

There are a few things that make this a great laptop for the price. For starters, while the laptop may not be the most powerful out there, it's pretty good for a laptop in this price range, offering an Intel Pentium 2.3GHz processor, coupled with 4GB of RAM and 500GB of storage — which should be more than enough storage for most. The display on the laptop comes in at 15.6 inches, and it has a resolution of 1,366 x 768. It also comes with a 30-day trial of Microsoft Office 365.

The laptop isn't bad-looking either. It comes in a sleek black color, and measures in at 0.78 inches thick, which is actually very slim. Around the edges, you'll get two USB 2.0 ports and two USB-C ports, along with a headphone jack and a HDMI port to connect the device to external displays. The laptop comes with Windows 10 S, which is the lighter-weight version of Windows 10, and has a battery life of 5.5 hours on a single charge.

Get the Lenovo S145-15IWL laptop from Best Buy, $179.99 (originally $299.99) [You save $120]

Original author: Christian de Looper

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Jul
23

Growth marketing roundup: TechCrunch Experts, creative testing and how to nail your narrative

Getaround, a car-sharing platform and winner of TechCrunch Disrupt New York Battlefield 2011, will enter the unicorn club with a roughly $200 million equity financing.

The deal values Getaround, founded in 2009, at $1.7 billion, according to an estimate provided by PitchBook. Getaround declined to comment, citing internal policy on “funding speculation.”

“Getaround and our investors work closely together on our growth strategy, and we’ll definitely plan to share more when we’re ready,” a spokesperson said in response to TechCrunch’s inquiry Thursday morning.

The news follows the company’s $300 million acquisition of Drivy, a Paris-headquartered car-sharing startup that operates in 170 European cities.

Getaround closed a Series D funding of $300 million last year, a round led by SoftBank with participation from Toyota Motor Corporation. Existing investors in the business, which allows its some 200,000 members to rent and unlock vehicles from their mobile phones at $5 per hour, include Menlo Ventures and SOSV.

Assuming an upcoming $200 million infusion, Getaround has raised more than $600 million in equity funding to date.

Whether SoftBank has participated in Getaround’s latest financing is unknown. The business is an active investor in the carsharing market, with investments in Chinese ride-hailing business Didi Chuxing, Uber and autonomous driving company Cruise. SoftBank declined to comment.

In conversation with TechCrunch last year, Getaround co-founder Sam Zaid emphasized SoftBank’s capabilities as a mobility investor: “What we really liked about [SoftBank] was they take a really long view on things,” he said. “So they were very good about thinking about the future of mobility, and we have a common kind of vision of every car becoming a shared car.”

Getaround was expected to expand into international markets with its previous fundraise. Indeed, the company has moved into France, Germany, Spain, Austria, Belgium and the U.K. where it operates under the brand “Drivy by Getaround,” and in Norway under the “Nabobil” brand.

The business initially launched its car-sharing service in 2011, relying on gig workers who can list their cars on the Getaround marketplace for $500 to $1,000 a month in payments, depending on how often their cars are rented.

Since Getaround entered the market, however, a number of competitors have entered the space with similar business models. Turo and Maven, for example, have both emerged to facilitate car rental with backing from top venture capital funds.

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Jul
23

Pro tips from the team behind Kickstarter’s most funded app

Flat has raised one of Mexico’s largest pre-seed rounds to take the Opendoor real estate marketplace model across the Rio Grande. 

The company snagged a $4.5 million pre-seed round to expand its business helping homeowners quickly sell their properties in Mexico. The round was led by ALLVP, an active early-stage fund in Mexico. California-based Liquid 2 Ventures (for which Hall of Fame quarterback Joe Montana is a GP), NextBillion and a few angels supported the round, as well. 

At the time of writing, Flat’s raise is the largest pre-seed funding round for a Mexican startup aside from the scooter company, Grin, which was backed by Y Combinator and later went on to raise a $45 million Series A and consolidate with Brazil’s bike-sharing startup, Yellow. 

While this ‘i-buying’ business model was initially pioneered by Opendoor in the U.S., the same need to efficiently sell property exists for consumers in other growing markets around the world. That’s why co-founders Victor Noguera and Bernardo Cordero founded Flat. 

Bucking a trend that has seen many new Latin American founders hailing from Stanford University, Cordero and Noguera met at the University of California, Berkeley — just across the bay.

The founders estimate the total value of the 40 million homes in Mexico to be a $1.6 trillion total addressable market. They equate the value of homes sold per year to $25 billion. Let’s not forget the elephant in the room — SoftBank is undoubtedly eyeing Mexico with its $5 billion LatAm commitment. 

Flat says it’s solving a few problems in the local home-buying market in Mexico. Firstly, anyone interested in selling their property lacks information about how much their home is actually worth. In the U.S., sellers can reference Zillow — but no such centralized database of real estate pricing information for the market of Mexico exists. 

Then there’s the operational piece of transferring ownership of the property, which Flat says can take up to eight months and is a notarized process — making the overall experience incredibly illiquid. 

Flat’s actual product is a marketplace focused on helping the seller sell quickly. Flat visits your home, takes measurements, documents how many bathrooms and bedrooms exist in the property and determines how much your home is worth. From there, they manage renovations and transfer ownership of the property. The seller is paid within 72 hours. 

International expansion has been difficult for many startups operating in Latin America as every country has its own regulatory barriers. That’s why when it comes to growth, Flat says it’s more focused on growing out their product within other verticals of property management to only serve a Mexican market, rather than expand to other Spanish-language countries in the LatAm region.

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Mar
16

Catching Up On Readings: Pandemic Preparation - Sramana Mitra

Making connections on LinkedIn can help you grow your professional network, and may lead to new opportunities. But sometimes those connections are no longer something you wish to maintain, and removing connections can help you streamline your network.

Removing connections can also help you stay within LinkedIn's network size requirements (if you're somehow getting close to making 30,000 connections).

Here's how to remove connections on desktop and mobile, whether you know who you want to remove by name, or need to find people by searching through all of your connections.

Check out the products mentioned in this article:

iPhone Xs (From $999.99 at Best Buy)

Google Pixel 3 (From $799.99 at Best Buy)

How to remove connections on LinkedIn on a computer

If you're already on the profile page of the person you want to remove from your LinkedIn connections, you can easily do that by clicking the "More..." button in their introduction card, and selecting "Remove Connection."

You can remove connections right from that connection's profile page. Devon Delfino/Business Insider

But you can still get it done if you aren't sure about their name, as long as you can recognize the name or profile photo of the person you want to remove from your connections.

Here's how to remove a person via the Connections page:

1. Go to linkedin.com and log into your account, if necessary.

2. Tap "My Network" in the top toolbar.

3. Click "Connections" in the left-hand sidebar.

You can click "Connections" to open a full list of the people you've connected with. Devon Delfino/Business Insider

4. Scroll through your contacts list; when you see the person you want to remove, click the three dots to the right of their name and the "Message" button.

Select "Remove connection" to delete them from your list. Devon Delfino/Business Insider

5. Select "Remove connection."

How to remove connections on LinkedIn on the mobile app

Just like the desktop version of LinkedIn, the mobile app allows you to remove connections either via their profile page or the Connections page.

If you know the name of the person you want to cut ties with, you should type that name into the search bar to get to their profile. From there, tap the three dots next to their name and select "Remove Connection," and confirm your choice by tapping "Remove Connection" one more time.

Otherwise, here's how to get it done via the Connections page:

1. Open your LinkedIn app and log into your account, if necessary.

2. Tap the connections icon in the bottom toolbar and select "View Connections" at the top of the screen. If the top of the screen instead reads "My Communities," tap that, and then tap "Connections" in the next menu.

Open your full Connections list. Devon Delfino/Business Insider

3. Scroll through your connections until you find the one you want to remove — once you find that connection, tap the three dots to the right of their name and select "Remove Connection."

Tap "Remove Connection." Devon Delfino/Business Insider

4. Confirm your choice by tapping "Remove Connection" in the pop-up window.

Original author: Devon Delfino

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Mar
16

Thought Leaders in E-Commerce: LED Light Expert CEO Dara Greaney (Part 1) - Sramana Mitra

Novameat, a Spanish startup looking to accelerate the development of alternative proteins across the meat aisle, has gotten a boost in the form of new investment capital from the leading foodtech investment firm, New Crop Capital.

Founded by biomedical engineering expert Giuseppe Scionti, Novameat builds on Scionti’s decade of research as an assistant professor in bioengineering at the Polytechnic University of Catalonia, the University College of London, Chalmers University and Polytechnic University of Milan.

The company first came to fame with the production of the world’s first 3D-printed plant-based beefsteak in 2018 and will use the new funds from New Crop Capital to further develop its platform for accelerating the development of meats like steak, chicken breasts and other fibrous textured meat replacements.

The company has developed a new scaffolding technology that mimics the texture, appearance, nutritional and sensorial properties of fibrous meats like beefsteaks, chicken breasts and fish filets.

Scionti sees the technology as the next step in the development of plant-based and lab-cultured alternatives to traditional proteins. While many clean meat and plant-based food companies have managed to take ground meat replacements to market with similar taste and textural qualities to the real thing, steaks and cuts of muscle meat have proven harder to replicate.

Novameat potentially solves that problem.

“While I was researching on regenerating animal tissues through bioprinting technologies for biomedical and veterinary applications, I discovered a way to bio-hack the structure of the native 3D matrix of a variety of plant-based proteins to achieve a meaty texture,” said Scionti, in a statement.

The core of Novameat’s technology is a customized printer that enables companies to create the kinds of fibrous tissues needed to make a steak. “We are providing the equipment, the machinery, under a licensing agreement to these companies,” says Scionti. “Plant-based meat manufacturers have access to something that creates the texture and taste of a steak.”

Traditional extrusion technologies are not capable of using the ingredients from Beyond Meat or Impossible Foods to print a steak, but Novameat’s founder argues that his technology can.

The technology was promising enough to attract the attention of New Crop Capital, arguably one of the most seasoned investors in the expanding market of meat replacement. The venture firm’s portfolio includes Memphis Meat, Beyond Meat, Kite Hill, Geltor, Good Dot, Aleph Farms, Supermeat, Mosa Meat, New Wave and Zero Egg.

“We think the global food supply chain is broken and we are focused on fixing one of those challenges, which is animal protein,” says New Crop Capital’s Dan Altschuler Malek. “We see that there is an opportunity to shift consumer behavior to reduce their consumption of animal protein products to products that are at the price point that people will pay.”

Novameat can help reduce costs, Malek thinks, because it speeds up the time to create meat substitutes.

Scionti says the company’s micro-extrusion technology enables companies to get a three-dimensional structure without having to go through an incubation period that can take a significant amount of time and increase costs.

“Novameat’s bioprinting-based technology provides a flexible and tunable method of producing plant-based meat, with the utility to create different textures from a wide variety of ingredients, all within a single piece of meat,” he said. “Low and high-moisture extruders are the primary method currently used to restructure plant proteins to create the texture of meat. While extrusion works well for some applications, this method may not be ideal for mimicking all types of animal meat. Alternative technologies like Novameat’s give plant-based meat manufacturers a wider array of tools to mimic all types of meat and seafood,” said Good Food Institute Director of Science and Technology David Welch, in a statement.

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Sep
05

How to share your own LinkedIn profile or someone else's on desktop or mobile, to build your network and connect others

If you're a professional looking to advance in your career field, networking is paramount.

After all, your dream job won't just come along and be dropped in your lap — you have to go out there and take advantage of every available opportunity.

That's why creating a LinkedIn profile and sharing it with your connections and colleagues is such a good idea.

Once you've set up your LinkedIn profile with all the relevant information — your education, work history, skills, interests, and more — it's time to share your profile with those who might be interested in seeing it.

Here's how to do it on the LinkedIn website and mobile app.

Check out the products mentioned in this article:

iPhone Xs (From $999.99 at Best Buy)

Google Pixel 3 (From $799.99 at Best Buy)

How to share your LinkedIn profile on desktop

1. Go to https://www.linkedin.com and log in using your user name and password.

2. In the menu bar running across the top of your screen, click the Me icon, which appears with a mini version of your profile photo.

3. Click View Profile to be taken to your profile page.

4. In your introduction card — the top box of your profile page which contains your name and a few abridged details about your current employment and education — click "More…"

Click "More..." to share your profile. Jennifer Still/Business Insider

5. From the dropdown menu, click Share Profile. This will launch a menu box in which you can type in the name of the connections you wish to share your profile with, and click Send.

You can now type in someone to share your LinkedIn profile with. Jennifer Still/Business Insider

You can also share another member's profile in the same way. Simply navigate to their profile page and follow the steps above.

How to share your LinkedIn profile on the mobile app

1. Locate the LinkedIn app on your iPhone or Android's home screen and tap to open.

2. Go to the profile you wish to share. To share your own profile from the mobile app, you will have to know your own LinkedIn URL and type it in manually.

3. Click the "More…" button in the introduction card of the profile you're sharing.

4. On iOS, choose Share via private message. On Android, this option will appear as Share Profile.

Select "Share via private message" on your iPhone. Jennifer Still/Business Insider

5. Type the names of the people you wish to share the profile with in the relevant field and hit Send when done.

If you want to share your own LinkedIn profile (or anyone else's) outside of the platform, you can also simply copy and paste the URL of the LinkedIn profile page. For more information, read our article, "'What is my LinkedIn URL?': How to find your LinkedIn URL or change it to a custom address."

Original author: Jennifer Still

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Feb
10

Thought Leaders in Financial Technology: FundThrough CEO Steven Uster (Part 1) - Sramana Mitra

New regulatory documents sent to Business Insider provide a glimpse into SpaceX's plan to develop a disruptive new rocket system over the next two to three years.

Every day at Boca Chica — a hot, humid, narrow, and sandy strip of clay at the southernmost tip of Texas — SpaceX workers toil over the rocket company's big project, called Starship.

An illustration of SpaceX's Starship vehicle on the surface of the moon, with Earth in the distance.Elon Musk/SpaceX via Twitter

Elon Musk, the company's founder and CEO, envisions the vehicle as a shiny steel two-stage launch system that may stand nearly 400 feet tall and reduce the cost of access to space by a factor of 100 to 1,000 by having fully reusable hardware.

It may be capable of sending massive payloads into orbit, humans to the moon and Mars, and scores of passengers around the world in half an hour.

Read more: SpaceX is eyeing these 9 places on Mars for its first Starship rocket missions

The new regulatory review, which the Federal Aviation Administration has not yet published to its website, came about after the company substantially changed its vision for Boca Chica. Business Insider was sent PDFs of the files (below) via email from an FAA representative.

The FAA's main document is a 23-page "written reevaluation," which addresses the potential impacts of SpaceX's new plans. It's accompanied by a separate five-page addendum that addresses a large brush fire the company accidentally started during an experimental launch in July.

The two documents follow a years-long environmental assessment that the FAA, SpaceX, the state of Texas, and local authorities hammered out by July 2014. That original corpus of more than 1,600 pages is an exhaustive (though now dated) official review of SpaceX's site that the FAA uses in part to approve or deny the company's launch licenses there.

The new assessment covers SpaceX's shift away from developing a commercial spaceport and confronts its new reality as a skunkworks for Starship.

The FAA reevaluated SpaceX's site after a big change in the company's plans

A May 2014 rendering of a Falcon Heavy rocket at SpaceX's South Texas launch site near Boca Chica Beach. The company ultimately changed its plans and design for the facility.SpaceX via FAA

SpaceX's site is located about 20 miles east of Brownsville, a few miles north of the US-Mexico border, and about half a mile from Boca Chica Beach.

The company originally agreed to build a commercial spaceport by spending about $100 million on the effort, including some $15 million worth of incentives from county and state governments. Space missions were supposed to start launching by the end of 2017, with up to a dozen trips each year.

Falcon 9 and Falcon Heavy rockets were to take off from a large launchpad equipped with a flame trench (to redirect hot rocket exhaust), a 250,000-gallon deluge system to flood the pad with water (to suppress sound and cut fire risk), lightning protection towers, and other safety features.

Yet before SpaceX could do anything, it had to go through a gauntlet of filing an environmental impact statement with the FAA. The company spent years studying the site and meeting with local, state, and federal officials.

The resulting EIS captures the potential environmental impacts to the area, and it was finalized in July 2014. For a variety of reasons, though, SpaceX's construction in the area slowed to a crawl almost as soon as it began.

Read more: Elon Musk is building SpaceX's Mars rockets in a tiny Texas hamlet. But getting them off the ground there may be harder than he imagined.

By May 2018, Musk said that SpaceX was dropping its commercial-spaceport plan and instead dedicating the site to building and flying Mars rocket-ship prototypes. The company is now using different launch vehicles (Starship prototypes), different fuel (methane instead of RP-1, a rocket-grade kerosene), and a new rate of launches, as well as switching up construction projects and other details.

A comparison of SpaceX and NASA rocket systems. Yutong Yuan/Samantha Lee/Business Insider

This shift in plans prompted the FAA to step in, reevaluate, and square these new details with the original EIS to see whether there'd be any unaddressed public-safety threats or environmental damage.

The document neatly lays out the crux of SpaceX's experimental test program:

"SpaceX remains committed in its mission to colonize Mars. To achieve this mission, SpaceX is developing a new rocket called the Starship and Super Heavy. A key part of the mission is developing the Starship spacecraft. In order to fully develop the vehicle, an experimental test program is needed. The proposed experimental test program involves testing a spacecraft — the Starship — which would serve as the second stage of the rocket. The objective of the experimental test program is to perform a suborbital space flight from the Texas Launch Site."

Despite SpaceX's substantial evolution of its Boca Chica site, the FAA found few major deviations, at least from an impact standpoint — so it determined a new (and very arduous) supplemental EIS process was not required. If anything, the documents suggest SpaceX's new Starship development would decrease the company's disruption in the area, including noise levels, wildlife effects, and wetland impacts.

"The modifications remain entirely within the property boundary and project area described and analyzed in the 2014 EIS," the FAA said.

SpaceX built its first launch pad within about 1.5 miles, or 2.4 kilometers, of a nearby community called Boca Chica Village. Despite this, and the company's inadvertent brush fire coming within a few thousand feet of the hamlet, the FAA determined "there were no public safety concerns" due to a "pre-established safety zone."

"All mitigation efforts due to the brush fire were controlled by US Fish and Wildlife Fire Management and the Brownsville Fire Department," a SpaceX representative told Business Insider. "The determination that this fire presented no risk to public safety was made by those agencies."

Though the FAA can request public feedback to incorporate into its written reevaluations, a representative for the regulator told Business Insider the document "is final" and "will not have any comment period."

The documents also outline a 3-phase Starship development program

A "Phase 1" construction layout for Starship. (The underground water tank was swapped for three above-ground tanks.) FAA/SpaceX

The main FAA document, which was finalized May 21, contains figures on the amounts of methane, oxygen, water, helium, and other "commodities" SpaceX thinks it needs for Starship testing in Texas. (The company has since built a second Starship development site in Cocoa, Florida.)

The document also lays out a three-phase test program, which it says "would last around 2 to 3 years":

Phase 1: Tests of ground systems and fueling, a handful of rocket engine test-firings, and several "small hops" of a few centimeters off the ground. The document also includes graphic layouts, like the one above, showing the placement of water tanks, liquid methane and oxygen storage tanks (Starship's fuels), and other launch pad infrastructure. Phase 2: Several more "small hops" of Starship, though up to 492 feet (150 meters) in altitude, and later "medium hops" to about 1.9 miles (3 kilometers). Construction of a "Phase 2 Pad" for Starship, shown below, is also described. Phase 3: A few "large hops" that take Starship up to 62 miles (100 kilometers) above Earth — the unofficial edge of space — with high-altitude "flips," reentries, and landings.

A "Phase 2" layout for Starship's launch site from the Federal Aviation Administration's written reevaluation. FAA/SpaceX

SpaceX's representative said the company had officially ended Phase 1 and was in the midst of Phase 2.

Phase 1 centered on SpaceX's first Starship prototype, called Starhopper. Sections of the shiny steel vehicle were first spotted in social-media photos posted from Boca Chica in late 2018.

The vehicle was mostly completed in February, though its nose cone was quickly blown off by powerful Texas winds. SpaceX decided the nosecone wasn't needed and launched Starhopper as a stubby version of its former, rocket-shaped self. The vehicle flew on short tethered flights in April, a roughly 6o-foot, or 20 meter, "hop" in July, and a flight in August that soared the vehicle to about 490 feet, or 150 meters — a key step described in Phase 2.

Read more: The FAA made SpaceX boost its accident insurance 33-fold, to $100 million, before Starhopper's last launch. Here's why.

During that latest and final flight in August, Starhopper also translated across its launch site and landed on a new concrete slab that matches the layout of the Phase 2 Pad.

Construction of the Starship Mk1 prototype in Boca Chica in April.Dave Mosher/Business InsiderThe FAA document says Phase 3 — SpaceX's most ambitious near-term goal in Texas — had not yet begun, adding that its exact details would depend on how the company's first two phases went.

"SpaceX would be required to submit data and information to the FAA so the FAA can conduct another environmental review before issuing any new or modified licenses or permits to conduct these operations," the FAA wrote of Phase 3.

It's unclear whether the rough Phase 3 plan in the FAA document is still valid. SpaceX is known for rapid shifts in development, and when asked about the phase, the company said only that it was "working directly with FAA to maintain environmental compliance as our testing plans develop."

Phase 3, however, is likely now more ambitious. Based on tweets from Musk, it may entail launching a new, roughly 180-foot prototype known as Starship Mark 1 (Mk1) a dozen miles high and beyond this fall.

"Aiming for 20km flight in Oct & orbit attempt shortly thereafter," Musk tweeted on August 28.

Musk added that he would provide an update on the overall Starship development program on September 28. Previously, he said he would deliver that presentation from Boca Chica, Texas — possibly to do so with a fitting backdrop.

"Starship Mk 1 will be fully assembled by that time," he said.

This story has been updated.

Original author: Dave Mosher

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Jun
18

Kojima conspiracies, final E3 thoughts, and more | GamesBeat Decides 201

Superside, a startup aiming to create a premium alternative to the existing crowdsourced design platforms, is announcing that it has raised $3.5 million in new funding.

It’s also adding new features like the ability to work on user interfaces, interaction design and motion graphics. Co-founder and CEO Fredrik Thomassen said this allows the company to offer “a full-service design solution.”

You may have heard about Superside under its old name Konsus . In a blog post, Thomassen explained the recent change in name and branding, writing, “We changed our name and look to align with what we had become: The world’s top team of international designers and creatives.”

He told me Superside was created to address his own frustrations after trying to use marketplaces like 99designs and Fiverr. He argued that there’s a problem with “adverse selection on those platforms.” In other words, “The best people … don’t remain, because they don’t have a career path — they’re fighting with other freelancers to get the jobs.”

Superside, on the other hand, is picky about the designers it works with — it claims to select 100 designers from the more than 50,000 applications it receives each year. But if they are accepted, they’re guaranteed full-time work.

Thomassen said the platform is built for large enterprises that have their own design and marketing teams but still need additional support. Customers include Uber, LinkedIn, L’Oreal, Cisco, Santander, Amazon, Walmart Tiffany & Co. Hewlett Packard and Airbus

In addition to choosing good designers, Superside also built a broader project management platform.

“We’re basically automating everything: Finding people, screening people, on-boarding, on-the-job learning, invoicing of customers, project management, all of the nitty gritty,” Thomassen said. “The only thing not automated is design — that’s where the human element and the creativity come in.”

Plus, Thomassen said Superside can turn around a standard piece of artwork in 12 hours: “Nobody else can do what we’re doing in terms of speed.”

The new funding comes from Freestyle Capital, with participation from High Alpha Ventures, Y Combinator and Alliance Ventures.

“We’re very much a mission-driven company,” Thomassen added. “For me, the reason to go to work in the morning is to help build an online labor market and create equal economic opportunity for everyone in the world.”

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Sep
18

Steve Jobs had a major role in helping Disney buy Marvel, CEO Bob Iger revealed

Harry's set off the wave of direct-to-consumer brands competing against consumer-packaged-goods giants like Unilever and Procter & Gamble. Now it's staffing up to shake up another industry.

The shaving brand recently posted a handful of jobs for a new DTC brand that it is incubating as part of Harry's Labs, the innovation group in Harry's tasked with identifying other categories to disrupt.

According to three job postings on Harry's website, the company is hiring for a new start-up called "NewCo."

"Over the past year, Harry's has identified and vetted an exciting opportunity to create a new brand and business in an underserved CPG (consumer packaged goods) category," read the job postings. "They are now gearing up to launch and looking to hire a team to build and run the business, revolutionize another category and improve the experience of millions of people."

Harry's is advertising three roles for the new DTC brand:

A director of growth marketing Creative director Business operations and strategy manager

The job postings suggest that Harry's is looking for experienced applicants. The director of growth marketing and creative director positions will report directly to the CEO, for example. The director of growth marketing position requires seven or more years of e-commerce experience, and the creative director role needs at least 10 years of experience at agencies or in-house teams, according to the postings.

The business operations and strategy manager should ideally have four to six years of experience and work on the startup's product launches, commercial strategy and with external partners like vendors and suppliers, according to the postings.

Harry's wouldn't comment on the new team or what kind of product is being planned beyond confirming that the roles would be part of Harry's Labs.

In an interview with Business Insider earlier this year, founder and Harry's Labs CEO Jeff Raider said that Harry's was looking to launch one or two new DTC brands this year. Raider said that he looks for categories with high customer dissatisfaction and organizes focus groups to talk with consumers about brands.

For example, Harry's Labs' first brand, Flamingo, a shaving line for women, was based on the idea that women didn't see themselves portrayed in existing brands.

Read more: The cofounder of Warby Parker and Harry's reveals how he decides which industry to disrupt next

"They were portraying women like goddesses," he said. "The products themselves were more expensive than men's products. A quote that really stuck with me was, 'Women would abstain from sex for three months if they could remove all their body hair.'"

Nik Sharma, a DTC consultant that has worked with brands including Hint and Cha Cha Matcha, said that he's heard about recruiters from Harry's VC arm Harry's Ventures reaching out to people for roles at a new DTC company.

Based on how Harry's has already created personal care items for men and women, he said he suspected that the new startup would focus on similar products such as a skin care product or perfume.

He said Harry's also already has many of the resources needed to launch a DTC brand, including negotiated manufacturing and shipping rates and first-party data on its customers. For example, Harry's could slip samples of the new startup into subscribers' boxes or poll them about what other related products they're interested in.

DTC brands like Iris Nova are experimenting with a similar model to Harry's. The beverage brand is known for its Dirty Lemon drinks but is spending $100 million over the next three to five years to build out a portfolio by creating and investing in other beverages.

"It would make perfect sense to build a brand around a consumer persona and almost double-down on the lifetime value of the consumer that they currently have," Sharma said. "They have the proof in the pudding."

Original author: Lauren Johnson

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Sep
05

How to brighten a video on your iPhone before or while recording, or by using a free third-party app after recording

A dark video is hardly enjoyable, but it's often hard to tell in the moment that the footage you're recording is too dimly lit to be easily viewed.

Brightening an iPhone video can make it easier to see the action on screen and will make the video more appealing if you upload it to a social media site or webpage.

Unfortunately, the iPhone's built-in camera app does not allow you to brighten videos after you have created them, so you should always try to brighten a video before you start recording.

Check out the products mentioned in this article:

iPhone Xs (From $999.99 at Best Buy)

How to brighten an iPhone video before or while recording

1. Open the camera app and swipe left to toggle to video.

2. Tap on the screen so that a box with a sun-shaped icon appears.

Tap your iPhone screen and slide your finger up to brighten the video. Steven John/Business Insider

3. Hold your finger on the iPhone screen and slide it upward to brighten the scene before you start recording. You can also do this while you are recording the video at any time.

How to brighten an iPhone video after recording

The free features of the app InShot allow you to brighten an iPhone video after recording, not to mention adding filters, text, cropping, and many other editorial features.

1. Open the InShot app and tap the icon for "VIDEO," then tap "New."

Create a new video on InShot. Steven John/Business Insider

2. Select the video (or videos if you are merging files) you wish to brighten from your iPhone's library.

3. Tap the green circle with the check mark.

4. On the next screen, tap the word "FILTER."

You can brighten the video with filters. Steven John/Business Insider

5. Tap the "Adjust" tab, then using the "LIGHTNESS" effect, move the slider as far to the right as you want to brighten the video.

You can also use the Adjust tab to manually brighten your video. Steven John/Business Insider

You can also play around with other effects, like "WARMTH" and "SATURATION," as increasing these will make some videos appear brighter.

Original author: Steven John

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Sep
05

People are roasting Elon Musk on Twitter after he tried to diss Porsche (TSLA)

Elon Musk's attempt to poke fun at Porsche's new Tesla-rivaling Taycan was met with some comedic backlash on Thursday.

"Um Porsche, this word Turbo does not mean what you think it does," he tweeted, presumably referencing the fact that it's impossible to turbocharge an electric car. Traditionally, turbo refers to "turbocharging" a car's engine by forcing more air into the engine, allowing it to burn more fuel and therefore making it more powerful.

Musk, of course, has his own history with loose definitions of terms, and Twitter was quick to remind him of that. Within minutes, other users were reminding Musk of the "funding secured" tweets that landed Tesla in hot water with federal regulators last year.

Then there are the other names of Tesla products that don't exactly fit the dictionary definition.

Original author: Graham Rapier

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Sep
05

How early-stage startups can use data effectively

Koen Bok Contributor
Koen Bok is the co-founder of Framer, a design software company focused on helping people express their most creative ideas. Previously, Koen founded Sofa, an Apple Design Award-winning agency that was eventually acquired by Facebook.

It is a commonly held belief that startups can measure their way to success. And while there are always exceptions, early-stage companies often can’t leverage data easily, at least not in the way that later stage companies can. It’s imperative that startups recognize this early on — it makes all the difference.

In this piece, I draw on my experiences using data to take Framer from seed round to Series B. More concretely, I’ll describe what to (not) focus on, and then, how to get real results.

There are good and bad ways for startups to use data. In my opinion, the bad way unfortunately is often preached on saas blogs, a/b test tool marketing pages, and especially growth hacker conferences: that by simply measuring and looking at data you’ll find simple things to do that will drive explosive growth. Silver bullets, if you will.

The good way is comparable to first principles thinking. Below the surface of your day to day results, your startup can be described by a set of numbers. It takes some work to discover these numbers, but once you have them you can use them to make predictions and spot underlying trends. If everyone in your company knows these numbers by heart, they will inevitably make better decisions.

But most importantly, using data the right way will help answer the single most important – but complex – question at any moment for a startup: how are we really doing?

Let’s start with looking at what not to do as a startup.

Table of Contents

Common pitfallsDon’t measure too muchA/B tests are anti-startupUnderstand your calculationsDon’t just use quantitative dataUse the real numbersMake a planDefine a high-level product funnelDefine a metrics plan per stage and implement itGet your whole team on boardPerfect setupDecide on infrastructureWhat to build, ideallyTypical problemsNon-measurable dataDefining what results are “good”Turning data observations into actionable learningsDiscovering dataVisualizationWhat to look forAnalyzing your splashesLook for trends that are growing structurallyLook for trends that are growing exponentiallyLook for trends that are dropping of cliffsLook for predictors: correlationsDeciding what to work on

Common pitfalls

Don’t measure too much

Technically, it’s easy to measure everything, so most startups start out that way. But when you measure everything, you learn nothing. Just the sheer noise makes it hard to discover anything useful and it can be demotivating to look at piles of numbers in general.

My advice is to carefully plan what you want to measure upfront, then implement and conclude. You should only expand your set of measurements once you’ve made the most important ones actionable. Later in this article, I provide a clear set of ways to plan what you measure.

A/B tests are anti-startup

To make decisions based on data you need volume. Without volume, the data itself is not statistically significant and is basically just noise. To detect a 3% difference with 95% confidence you would need a sample size of 12,000 visitors, signups, or sales. That sample size is generally too high for most early-stage startups and forces your product development into long cycles.

While on the subject of shipping fast and iterating later, let’s talk about A/B testing. To get reliable measurements, you should only be changing one variable at a time. During the early stages of Framer, we changed our homepage in the middle of a checkout A/B test, which skewed our results. But as a startup, it was the right decision to adjust the way we marketed our product. What you’ll find is that those two factors are often incompatible. In general, constant improvements should trump tests that block quick reactionary changes.

Understand your calculations

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Mar
17

All the companies from Y Combinator’s W20 Demo Day, Part IV: Healthcare, Biotech, Fintech and Nonprofits

Olivia Oran: NSO Group is known for being super secretive and closed off to journalists. What first piqued your interest about reporting on the company?

Becky Peterson: My editors first asked me to look into NSO Group around the time of the Jeff Bezos sexting scandal, when his personal security consultant accused Saudi Arabia of hacking Bezos's phone. NSO Group had been linked to Saudi Arabia through earlier reporting on the murder of Jamal Khashoggi, and there were a lot of questions about whether the two situations were linked.

I had just gotten back from a work trip to Tel Aviv, and had been thinking a lot about the startup environment in Israel. I actually spent a day in Herzliya, a town north of Tel Aviv where a lot of the tech companies, including NSO Group, are based. It had a lot in common with Palo Alto. There was even a Columbia store, where you could buy a puffy vest, on the bottom level of one of the more bustling high rises.

So I started asking people in the space what they knew about NSO Group and its competitors, and pretty soon it was clear that the story was much bigger than just one rogue company selling spyware.

Oran: How did you get interested in reporting on cybersecurity?

Peterson: My first role at Business Insider was covering enterprise technology out of our San Francisco bureau. It was 2017, and a lot of startups in cybersecurity were raising funding. So a lot of my early reporting was just about following the money.

But I started thinking about cybersecurity and digital privacy before that. In both my undergrad and master's programs, I spent a lot of time thinking about how our online lives could be used against us by the government, corporations or just other people online. When you're a journalist, you learn pretty quickly how easy it is to find out details of people's lives from their public social media trails. Just imagine what someone with technical expertise could find out.

Oran: Tell me about your reporting process. How long did this story take to come together? Without getting too specific, who are the types of people that you relied on as sources?

Peterson: I've been working on this story for around four months. I was still living in the Bay Area at the time, and my editor called me to talk about the story while I was in the waiting room at the eye doctor. I thought I had a contact lens stuck in my eye.

When I first started reporting, it wasn't clear what I was looking for. I had a sense that Silicon Valley VC firms might be investing in these companies, and that they weren't being upfront about their participation. That turned out to be partially true. I spoke to a number of venture capitalists who said in no uncertain terms that they would never invest in an offensive cybersecurity company.

But they also knew that the VC firm Andreessen Horowitz had. I also reached out to a number of people who were offensive cyber experts themselves, or who had worked with NSO Group at one time or another. For a story like this, most people don't email you back. But the ones that do always have something compelling to share.

Oran: What was the hardest part of reporting out this story?

Peterson: Confirming the details about the startups in the space was a bit of a challenge. Everyone knows about one another's work but no one wanted to throw their tech friends under the bus by sharing information that wasn't public. In a few cases, after sharing a short list of companies I was trying to track down, sources would tell me that there were more I hadn't uncovered, but wouldn't tell me what they were! It's possible there are a few more startups that didn't make it into the story.

Another challenge was just that I had to think about my own digital privacy in a new way. A few months ago, I scheduled an early Sunday coffee with someone who was in town from Israel. Flights got changed, and the meeting got cancelled. But for the first time in my life, I had to think seriously about what it meant to carry my phone with me to a public space. Offensive capabilities are no joke. I was sure my phone would be hacked just because I was asking questions.

A security researcher I spoke to told me that a lot of people in the space are also worried about being followed in person. Anytime a stranger started talking to me about cybersecurity or NSO Group unprompted, I started to wonder if they were sent there to find out what I was working on.

Oran: Any crazy stories you can share?

Peterson: For a while I was looking into this American company called Endgame, which started out in the offensive security space but pivoted into the more commercially viable defensive cyber world. When the company raised its first VC funding nearly a decade ago, it demoed an insane product to investors, where it could zoom in on a map of the globe and identify hackable devices inside of a specific building. In the example I heard, it identified a bunch of exploitable devices in Pakistan's parliament building.

When it comes to a lot of these Israeli startups, the craziest part may be that most of the people are pretty normal startup people, just trying to make their millions using a rather unique skillset they picked up in the Israeli Defense Forces.

Oran: Why do you think it's so important for our readers to understand what's going on at NSO Group and the broader Israeli cyber scene?

Peterson: One of the biggest concerns of opponents to the offensive cyber industry is that all of the secrecy around its products makes it easier for the technology to be abused. And while I am not here to make a claim about whether or not these companies are good or bad, or whether the technology is ethical, I am partial to the journalistic proverb that sunlight is the best disinfectant. This is especially true when it comes to funding these startups. Investors and companies in the tech world talk a lot of talk about "environmental, social and corporate governance," which is a popular way of measuring the ethics of a business. It's up to these backers to make the case for why investments in offensive cyber fit in ESG.

I also think we're on the cusp of a lot of international legislation being set around this issue of cross-border hacking, where corporations and governments are working together.

One reason I thought it was important to discuss how NSO Group's technology actually works is that where the servers and data lives could have a big impact on how laws are written and who is held accountable for abuse of this technology.

Original author: Olivia Oran

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Sep
05

Battlefield winner Forethought adds tool to automate support ticket routing

Last year at this time, Forethought won the TechCrunch Disrupt Battlefield competition. A $9 million Series A investment followed last December. Today at TechCrunch Sessions: Enterprise in San Francisco, the company introduced the latest addition to its platform, called Agatha Predictions.

Forethought CEO and co-founder Deon Nicholas said that after launching its original product, Agatha Answers (to provide suggested answers to customer queries), customers were asking for help with the routing part of the process, as well. “We learned that there’s a whole front end of that problem before the ticket even gets to the agent,” he said. Forethought developed Agatha Predictions to help sort the tickets and get them to the most qualified agent to solve the problem.

“It’s effectively an entire tool that helps triage and route tickets. So when a ticket is coming in, it can predict whether it’s a high-priority or low-priority ticket and which agent is best qualified to handle this question. And this all happens before the agent even touches the ticket. This really helps drive efficiencies across the organization by helping to reduce triage time,” Nicholas explained.

The original product (Agatha Answers) is designed to help agents get answers more quickly and reduce the amount of time it takes to resolve an issue. “It’s a tool that integrates into your Help Desk software, indexes your past support tickets, knowledge base articles and other [related content]. Then we give agents suggested answers to help them close questions with reduced handle time,” Nicholas said.

He says that Agatha Predictions is based on the same underlying AI engine as Agatha Answers. Both use Natural Language Understanding (NLU) developed by the company. “We’ve been building out our product, and the Natural Language Understanding engine, the engine behind the system, works in a very similar manner [across our products]. So as a ticket comes in the AI reads it, understands what the customer is asking about, and understands the semantics, the words being used,” he explained. This enables them to automate the routing and supply a likely answer for the issue involved.

Nicholas maintains that winning Battlefield gave his company a jump start and a certain legitimacy it lacked as an early-stage startup. Lots of customers came knocking after the event, as did investors. The company has grown from five employees when it launched last year at TechCrunch Disrupt to 20 today.

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Jul
24

Aurora’s SPAC merger comes amid self-driving car delays

Adam Draper, the son of that Draper, is changing things up a bit at his accelerator.

Boost VC has been living life on the fringe of Bay Area accelerators, chasing trends like VR and crypto (and sometimes a combo of the two) hard while courting outliers, including a “robot fish platform” and a “cold metal fusion printer.”

While Boost VC’s investments have varied in feasibility, Draper says most of them fit into his particular vision of emerging tech that he calls “sci-fi tech,” something he says is more about finding technologies that give humans “superpowers,” a term he seems to be giving a pretty broad definition with a sci-fi portfolio that includes a jetpack startup and a hotel booking site.

Canvassing frothy sectors hasn’t always been a particularly strong recipe for sustained success; both VR/AR and blockchain startups have endured bear markets in the past couple of years. Draper encourages his bets to stay lean and low-profile; the accelerator’s official slogan was, at one point, “be the cockroach.”

Adam Draper isn’t planning to shift away from longshots, but he is turning the seven-year-old Boost VC into a more codified accelerator in an aim to provide a more compelling pitch to savvy entrepreneurs that need more money early on.

The headline changes are that Boost VC is halving the number of companies in its accelerator classes to 7-10 companies, and is increasing the checks that it’s writing to $500K while taking a bigger slice of its portfolio startups (15%). The accelerator is still giving the same perks and is hoping to up the programming to make the smaller group more close-knit.

The numbers may be shifting, but the biggest change is that there are hard numbers to begin with. Boost VC has at times looked like a club for Draper’s early angel investments, largely because the check sizes and valuations varied so heavily — investments ranged from $50K to $500K.

“Standardizing everything just makes it all way, way better,” Draper told TechCrunch. “YC is awesome, and that’s why I forked their model. I think programming-based VC is the best model in venture capital.”

With this change toward deal uniformity, Draper may be stripping some of the volume, but also focusing more on quality, rather than breadth. This is undoubtedly a necessary step as accelerator behemoth Y Combinator continues to surge in size, now betting on nearly 400 companies per year while sucking up a pretty sizable pool of accelerator applicants from other institutions.

Last year, Draper announced the close of Boost’s third fund, which clocked in at $38.6 million. The team is about to take applications for its 13th “tribe” of accelerator startups.

“If you are a consumer or enterprise-based business, YC is fantastic and they have repeated success. If you are in this ‘sci-fi’ category than I think specialization is very important and it’s also slightly more expensive,” he says.

A major question will be whether the higher valuations and check sizes will shift Boost away from some of the riskier and stranger “Hogwarts-inspired” VR and crypto investments that it’s been making. At the same time, 15% is a pretty sizable portion of equity for founders to offload so early in their life cycle, though Draper believes plenty of teams will be interested in landing a $500K investment.

“Boost isn’t going to be for everyone, and I’m okay with that,” Draper says.

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Sep
05

Shared inbox startup Front adds WhatsApp support

Front, the company that lets you manage your inboxes as a team, is adding one more channel: WhatsApp. Starting today, you can read and reply to people contacting you through WhatsApp.

This feature is specifically targeted at users of WhatsApp Business. You can get a business phone number through Twilio and then hand out that number to your customers.

After that, you can see the messages coming in Front and treat them like any Front message. In particular, you can assign conversations to specific team members so that your customers get a relevant answer as quickly as possible. If you need more information, Front integrates with popular CRMs, such as Salesforce, Pipedrive and HubSpot.

You also can discuss with other teammates before sending a reply to your customer. It works like any chat interface — you can at-mention your co-workers and start an in-line chat in the middle of a WhatsApp thread. When you’re ready to answer, you can hit reply and send a WhatsApp message.

Front started with generic email addresses, such as sales@yourcompany or jobs@yourcompany. But the company has added more channels over time, such as Facebook, Twitter, website chat and text messages.

If you’ve already been using Front with text messages, you can now easily add WhatsApp and use the same service for that new channel.

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