Dec
16

Tech community reacts to death of HQ trivia and Vine founder Colin Kroll

Ken Kao Contributor
Ken is an engineering manager at Airbnb building products that enable entrepreneurs to provide hospitality on the platform. Outside of work he enjoys Muay Thai, Pekiti Tirsia Kali (Filipino sticks & knives fighting), cooking, and writing.

A wave of unease immediately swept through my body. Constant puffing and growling echoed around me as heavily-tattooed fighters threw forceful punches into the heavy bags. This was the scene I encountered when I stepped into Five Points Academy, a martial arts fighting gym in New York, for the first time a few years ago. Having grown up in a sheltered environment — the last time I had gotten into a fight was in kindergarten — I wasn’t sure I would fit in.

Emily, one of the instructors, immediately introduced herself and showed me some basic Muay Thai movements. The class focused on pad work, so students paired up and held Thai pads for each other to practice their moves. Emily rotated me through different partners during the class, offering me a taste of what it was like to hit pads, and I was hooked.

A year ago, my friend, Diane Wu, wrote a wonderful post arguing that “inclusion is the cause, and diversity is the effect. When an inclusive mindset is in place, diversity naturally follows.” My experience at Five Points reflects this sentiment. Despite being in a traditionally male-dominant field, roughly 40% of our instructors, half of our fighters, and half of our members are women. It’s not a coincidence that they are also widely regarded as one of the most inclusive and least “bro-y” fighting gyms in New York.

Tech has only been male-dominant in the last few decades — the first coders in the 1940s were women — while martial arts has been male-dominant for the last few millennia. If a martial arts gym can overcome systemic obstacles, we, in tech, can do better. After interviewing the owners, coaches, fighters, and members of the gym, here is what I learned about how they created an inclusive community.

Culture starts from the top

Studies have shown that culture stems from leadership, and this is demonstrated by the three owners of Five Points, Steve, Simon, and Kevin. Multiple members noted that Steve’s laid-back demeanor, Simon’s British humor, and Kevin’s always-friendly attitude were a big part of what made Five Points feel like family. As Steve explained, “People learn better if you’re encouraging as opposed to intimidating.” This welcoming culture from the top certainly encouraged a wider range of people to join and prosper, especially among more recreational fighters.

Companies are no different when it comes to establishing cultures from the top. If inclusivity is a priority, executives have to demonstrate that.

I’ve seen cases where the CEO created a committee to collaborate on establishing core values for the company, only to scrap that conversation and send out a survey asking employees to rate cultural values the CEO personally came up with. Over time, people with different viewpoints left the company, and the ones who stayed were predominantly from the same backgrounds in terms of work experience, gender, and ethnicity. Ultimately, building a culture of inclusion requires both executive buy-in and genuine follow-through actions, or else it will be hard to sustain.

“Inclusion” includes everyone

Five Points didn’t start out aiming to achieve gender parity or market to certain demographics. Instead, they focused on creating a community where everyone was welcomed. Simon summarized it well, “An inclusive culture includes everyone. By not having the right culture, you might turn away a person — not just women, but also other men — that can potentially help improve your gym directly.” He further elaborated, “We don’t want an asshole culture not just because women might be turned off—but men would, too.”

This is an important distinction. For example, it is tempting to generalize that a frat-house gym culture could keep women away. However, many men dislike such a culture as well. Instead of lumping people into groups, we can look at each individual and ask ourselves, “what environment would be welcoming for him or her?” For instance, Kevin always makes sure to take time to understand each prospective new member, give them a tour of the facilities, and discuss how the academy could cater to their needs.

We can extend this idea further: surface-level characteristics are often times just a proxy for deeper attributes, so why not go straight to the root? When I took Muay Thai classes at other gyms, the instructor would often remind everyone, “Guys, if you are paired with a girl, please go lighter.” This gender-based generalization is just a proxy for the root attribute: size. At Five Points, the instructor would instead say, “Guys (and gals), if you are paired with someone a lot smaller than you, please adjust your power to keep your partner safe.” Safety is a concern for anyone facing a bigger opponent, regardless of the gender they identify themselves with.

In tech, there has been a lot of discussion around creating a more inclusive environment for underrepresented demographics. I believe we can be more effective by augmenting this effort. In addition to asking “how can we make women feel comfortable contributing to meetings?”, we can also ask “how can we help all employees feel comfortable contributing to meetings?”[1] In addition to discussing “how can we provide support mechanisms for minorities?”, we can also discuss “how can we provide support mechanisms for employees who are not well-versed in mainstream corporate America culture?” I believe this hybrid approach can cover more ground and ensure that help is delivered to the people who need it most [2].

Treat everyone equally

A common theme among the female coaches and members I interviewed was that they felt that gender was something that did not cross their minds during class. Multiple members have commented that the instructors treated everyone equally. For example, if you were late, independent of what demographic or skill level you were, you had to do 30 pushups [3]. Giving everyone the same standards ensured that people couldn’t pick on others or make snide comments such as “Amy got off easier because she was a girl.”

One of the rules during Muay Thai drills class is to lower the power level and focus on technique. One time, Steve took Emily’s Muay Thai drills class and hit his partner a bit too hard. Emily immediately reminded Steve, “that was probably a bit too hard.” It didn’t matter that Steve was an owner and Emily was an employee — as the instructor of the class she made sure everyone followed the same rules.

Likewise, treating everyone equally starts from the beginning: the candidate experience. A common question I get is “how do we improve diversity without lowering the bar?” What I propose is to define a set of capabilities that all candidates need to demonstrate. For example, if a productive software engineer needs to be good at algorithms, system design, communication, teamwork, and breaking problems down, we should evaluate each of the five areas fairly during recruiting.

Unfortunately, many companies only look at the first two, which not only results in a non-diverse group of employees, but also those with skillsets that don’t fully map to their jobs. By communicating the standards transparently, we ensure that all employees understand that they belong, and are equally a part of the community.

Pay attention to details

Details often reflect the thoughtfulness put in to creating a culture. Ting, a Kali (a weapons-based martial art) instructor and former fighter, explained, “Many martial arts gym are dirty and smell like sweat. Five Points pays attention to details: there are hair ties and multiple hair dryers for women’s locker rooms. The mats are mopped every hour in between classes. This removes one extra stress for a lot of women who want to try out martial arts.”

Needless to say, the attention to detail applies to classes as well. A new member shared the following story with me: “Once I was getting ready to do a private session with Steve after Emily’s Muay Thai class. Emily went to Steve and said ‘she needs more work on her left roundhouse kick.’ Of course Steve then made me do left roundhouses for 30 minutes straight.”

While the member was cursing inside, she was also grateful for the attention Emily paid to her. Sonya, a long-time Kali student, also recalled that Simon would often notice when she’s flustered with a particular drill. With his classic British humor, he would remark “too much water in the bucket?” before proceeding to break down the drill further to ensure she could absorb the information.

There are many zero-cost things companies can do that could make the employees feel taken care of. For example, in the early days, Palantir, my former employer, would proactively offer employees the option to early-exercise their stock options. They also brought in tax accountants to explain how to handle the alternative minimum tax (AMT). However, I’ve also seen companies with 60+ employees where no one was given the option to early-exercise, even though it financially costs the company practically nothing.

Be adaptive to change and proactively improve

When Five Points first started, they followed the Western boxing mindset where members sparred hard. The mentality was to identify fighters who were tough and wanted it so bad they’d return after getting beaten up. Over time, as Steve and Simon traveled to Thailand, they witnessed a different style of sparring, where fighters sparred lightly and focused on technique and timing.

They revamped their sparring classes to “Thai Style Technical Sparring,” and had a few designated “hard sparring” classes. Although a few fighters were upset, Steve and Simon were convinced that this was the right approach. As Steve explained, “the old style can help you find tough people but not necessarily the best people.” Furthermore, the best fighter can come in all shapes, sizes, genders, and backgrounds, not necessarily the “tough person” who comes in day one wanting to fight.

This open mindset certainly uncovered many great fighters they wouldn’t have found otherwise, increasing the diversity of the community. One of their fighters, a former model and actress, came to Five Points never thinking she would fight. The welcoming environment and emphasis on technique during sparring made her feel safe as she leveled up her skills. Three years in, Steve asked her if she wanted to do a fight. She ended up getting hooked and went on to win multiple US Kickboxing Association International Championships.

This adaptive mindset is applicable to other areas as well. When I interviewed at Google, one of my interviewers told me that for a long time Google focused heavily on brain-teasers and algorithmic puzzles. As a result, during lunch with his team, the predominantly white and Asian male engineers with backgrounds in coding would discuss brain teasers and algorithmic puzzles.

Over time, Google’s leadership realized that brain teasers and algorithmic puzzles have little correlation with one’s performance. They then restructured their interview process, and the diversity of the team improved. Obviously there are still areas for improvement, but being able to recognize issues and adapt to new findings is critical to fostering an inclusive culture.

Enforce the rules fairly when needed

The journey to building a diverse and inclusive martial arts community is not without the occasional bumps. As a community grows bigger, there will inevitably be bad actors, and how a leader responds to them will set the tone for how the culture develops.

Emily has kicked students out of her class a few times when a bigger or more experienced fighter beat up on a smaller or less-experienced student. It did not matter if the bully was highly skilled or fought for the gym — she enforced the rules fairly with everyone. Similarly, after a 200+ lbs experienced man repeatedly beat up others during Muay Thai sparring and refused to let go on locks during Brazilian Jiu Jitsu classes, Steve asked him to leave the gym.

On the contrary, in a work environment, I have witnessed situations where someone would repeatedly yell at colleagues in front of everyone — including executives — during meetings. It got so toxic that four people from various departments requested to switch projects because they did not want to work with the person anymore. However, because the employee was deemed important by executives, they continued to let him yell at others during meetings with no repercussions.

Culture is not just slogans hung on the walls of your conference rooms. UCSF Psychiatry professor Cameron Sepah says, “Your Company Culture is Who You Hire, Fire, and Promote.” One of the triggers for a recent employee walk-out at Google was because the company paid ex-executives tens of millions of dollars after discovering allegations of sexual misconduct. Ensuring improper behavior is dealt with immediately and fairly is vital to fostering an inclusive culture.

Success breeds success

When an initiative has early traction, it is much easier to continue the momentum. Culture is the same way. When Five Points first started in 2002, they already had three high-level female fighters—one of them, Emily, even went on to win the Muay Thai World Championships. Having diversity early on helped provide role models for members from underrepresented backgrounds who were interested in fighting.

Once an inclusive culture is established, the community members will continue to be inclusive and others will want to join. One of the coaches and fighters, Gianna, explained, “Nobody made me feel like sh*t when I was new, so I want to make sure other noobs don’t feel that way either.”

Another Kali student, Sonya, who describes herself as a “girly girl,” had to work extra hard honing her skills because she did not come from an athletic background like most of the other members. However, Simon was always patient with her, continually breaking down techniques until she grasped them. Looking back, she is extremely appreciative that Simon tried very hard to make her feel comfortable, and now she recommends all her female friends to try out Kali. Her motivation? “I want girly girls to know that they’re welcome here.”

The same applies to the tech industry. I have seen series A companies with 50 employees struggle to hire women due to their gender imbalance (15% female), only to see the ratio further decrease as the company grows (10%). On the other hand, Flatiron Health, also a former employer, focused on diversity & inclusion from the get-go, including hiring senior female leaders across all functions early on. When I was there, they had roughly 50% female employees and 50% female managers.

From inclusion to diversity

Five Points Academy never started with the intent of building a gym with 50% women and members from all different ethnic and socio-economic backgrounds. Instead, the owners simply wanted to build a gym where anyone can belong, and anyone can enjoy being part of the community. By starting with inclusion, diversity followed.

I am not at all advocating for halting initiatives on diversity. It is important that we focus on diversity, and many companies are doing just that. However, just like Five Points Academy, we also need to invest in building an inclusive culture to help people thrive and grow at the company, which will further attract more diverse employees.

Footnotes

[1] Studies have shown that a man’s ideas are often taken more seriously than a woman’s. As a result, many women choose not to participate in meetings but ask a male colleague of theirs to present their ideas.
[2] For example, according to Ascend Research, Asians score the lowest in executive parity index, doing worse than Blacks and Hispanics. However, they are not considered an “underrepresented minority,” so relatively little has been done to mentor young Asian professionals on career progression.
[3] If you had physical limitations, you could substitute them with pushups on knees or another exercise.

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Dec
16

Nintendo's biggest game of 2018 proves that the gaming giant still hasn't figured out how to make online games

As autonomous cars and robots loom over the landscapes of cities and jobs alike, the technologies that empower them are forming sub-industries of their own. One of those is lidar, which has become an indispensable tool to autonomy, spawning dozens of companies and attracting hundreds of millions in venture funding.

But like all industries built on top of fast-moving technologies, lidar and the sensing business is by definition built somewhat upon a foundation of shifting sands. New research appears weekly advancing the art, and no less frequently are new partnerships minted, as car manufacturers like Audi and BMW scramble to keep ahead of their peers in the emerging autonomy economy.

To compete in the lidar industry means not just to create and follow through on difficult research and engineering, but to be prepared to react with agility as the market shifts in response to trends, regulations, and disasters.

I talked with several CEOs and investors in the lidar space to find out how the industry is changing, how they plan to compete, and what the next few years have in store.

Their opinions and predictions sometimes synced up and at other times diverged completely. For some, the future lies manifestly in partnerships they have already established and hope to nurture, while others feel that it’s too early for automakers to commit, and they’re stringing startups along one non-exclusive contract at a time.

All agreed that the technology itself is obviously important, but not so important that investors will wait forever for engineers to get it out of the lab.

And while some felt a sensor company has no business building a full-stack autonomy solution, others suggested that’s the only way to attract customers navigating a strange new market.

It’s a flourishing market but one, they all agreed, that will experience a major consolidation in the next year. In short, it’s a wild west of ideas, plentiful money, and a bright future — for some.

The evolution of lidar

I’ve previously written an introduction to lidar, but in short, lidar units project lasers out into the world and measure how they are reflected, producing a 3D picture of the environment around them.

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Jun
29

448th Roundtable Recording on June 27, 2019: With Nnamdi Okike, 645 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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Jun
29

Colors: Rice Terraces, Fantasy - Sramana Mitra

I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I...

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Original author: Sramana Mitra

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Jun
29

July 11 – 448th 1Mby1M Mentoring Roundtable for Entrepreneurs - Sramana Mitra

Entrepreneurs are invited to the 448th FREE online 1Mby1M mentoring roundtable on Thursday, July 11, 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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Jun
29

Rocket Lab successfully launches seventh Electron rocket for ‘Make It Rain’ mission

Private rocket launch startup Rocket Lab has succeeded in launching its ‘Make It Rain’ mission, which took off yesterday from the company’s private Launch Complex 1 in New Zealand. On board Rocket Lab’s Electron rocket (its seventh to launch so far) were multiple satellites flow for various clients in a rideshare arrangement brokered by Rocket Lab client Spaceflight.

Payloads for the launch included a satellite for Spaceflight subsidiary BlackSky, which will join its existing orbital imaging constellation. There was also a CubeSat operated by the Melbourne Space Program, and two Prometheus satellites launched for the U.S. Special Operations Command.

Rocket Lab had to delay launch a couple of times earlier in the week owing to suboptimal launch conditions, but yesterday’s mission went off without a hitch at 12:30 AM EDT/4:30 PM NZST. After successfully lifting off and achieving orbit, Rocket Lab’s Electron also deployed all of its payloads to their target orbits as planned.

Later this year, Rocket Lab hopes to have a second privately owned launch complex fully constructed and operational, located in Virginia on Wallops Island. The company, founded by engineer Peter Beck, intends to be able to serve both U.S. government and commercial missions as frequently as monthly from this second launch site.

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Nov
14

Cloud Support Software Providers Broadening to Include CRM and More - Sramana Mitra

Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy startups & venture capital news. Before I jump into today’s topic, let’s catch up a bit. Last week, I wrote about scooter companies struggling to raise cash. Before that, I noted my key takeaways from Recode + Vox’s Code Conference in Scottsdale, Arizona.

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.

I’m sure you’re familiar with the co-working behemoth WeWork at this point but if not, here’s a quick primer: The real estate business posing as a “tech startup” offers office spaces to individuals and companies across thousands of co-working spots scattered across the globe.

Led by an eclectic chief executive by the name of Adam Neumann, WeWork made headlines this week after announcing its acquisition of building access app Waltz. The deal represents WeWork’s third M&A transaction of 2019, following that of spatial analytics platform Euclid and office management system Managed By Q. As is often the case, WeWork didn’t disclose terms of the deal.

In the last few years, WeWork has acquired nearly a dozen startups, making it one of the most — if not the most — acquisitive unicorn in the valley. Those acquisitions, a revolving door of venture capital investment and an eventual IPO are all part of WeWork’s world domination plan.

Adam Neumann (WeWork) at TechCrunch Disrupt NY 2017

WeWork filed confidentially to go public this spring shortly after securing new capital from the SoftBank Vision Fund. Now, WeWork is preparing itself for Wall Street’s scrutiny by buying growth, investing in new technologies and doubling down on talented teams. As we’ve pointed out before, WeWork isn’t profitable nor anywhere near profitability. Rather, the company’s value (a laughably high $47 billion) is based on its potential future growth, not its current revenue. Making strategic investments to expand its revenue streams is good business.

WeWork could be a bit more choosy with its deals, though. I will never forget when it took a big stake in Wavegarden, a company that makes wave pools. Yes, really, that happened.

Now that WeWork has officially entered the pre-IPO stage, it must take a closer look at its leadership. The 9-year-old company has an all-male board, something Canvas Ventures’ Rebecca Lynn pointed out to me on this week’s episode of Equity, TechCrunch’s venture capital-focused podcast. We were discussing a new lawsuit filed by former WeWork executives that alleges age and gender discrimination when she noted the troubling statistic.

For a company of that stature to not have appointed a woman to its board by now is mind-boggling. It may be one of the most highly-valued companies in the world on paper, but to succeed as a public company, it has more than one thing to figure out.

Anyways…

IPO Corner:
The Real Real: The marketplace for luxury consignment jumped 50% Friday in its Nasdaq IPO. The company, led by founder and CEO Julie Wainwright, raised $300 million in the process.

Livongo: The digital health business submitted paperwork for an IPO this week, joining a long line of companies opting to go public in 2019. Livongo posted $68.4 million in revenue last year.

Postmates: Google’s vice president of finance Kristin Reinke joined Postmates’ board of directors this week in what was the latest sign the on-demand food delivery startup is prepping for an imminent IPO.

Startup Capital:
SpaceX seeks $300M in fresh funding
Corporate travel platform TripActions secures $250M
Fungible gets $200M from the SoftBank Vision Fund
StockX raises $110M at $1B valuation
Cameo nabs $50M to deliver personalized messages from celebrities
Superhuman secures $33M Series B
SV Academy raises $9.5M to offer tuition-free training for tech jobs

Data!
Social Capital co-founder Chamath Palihapitiya is spinning out a company from his venture capital fund-turned-family-office, TechCrunch has learned. The new entity, temporarily dubbed CaaS (short for capital-as-a-service) Technologies, will focus on providing data-driven insights to VC firms. We’ve got the scoop here.

Theranos!

Elizabeth Holmes, the founder of the now-defunct biotech unicorn Theranos, will face trial in federal court next summer with penalties of up to 20 years in prison and millions of dollars in fines. Jury selection will begin July 28, 2020, according to U.S. District Judge Edward J. Davila, who announced the trial will commence in August 2020 in a San Jose federal court Friday morning.

Extra Crunch:
If you’ve been unsure whether to sign up for TechCrunch’s awesome new subscription service, now is the time. We’ve been publishing a lot of great content, here are my favorites this week:

What startup names are most effective?How to scale a startup in schoolThe next service marketplace wave: Vertical market-networks

#EquityPod:
If you enjoy this newsletter, be sure to check out TechCrunch’s venture-focused podcast, Equity. In this week’s episode, available here, TechCrunch editor Connie Loizos, Canvas Ventures general partner Rebecca Lynn and I discuss Brandless’ current dilemma and big rounds for Cameo and StockX.

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Jun
29

Google finance head joins Postmates board ahead of anticipated IPO

Google’s vice president of finance, has joined Postmates’ board of directors, the latest sign that the on-demand food delivery startup is prepping to take the company public.

Postmates announced Friday that Kristin Reinke, vice president of Finance at Google, will join the San Francisco startup as an independent director.

Reinke has been with Google since 2005. Prior to Google, Reinke was at Oracle for eight years. Reinke also serves on the Federal Reserve Bank of San Francisco’s Economic Advisory Council.

Her skill set will come in handy as Postmates creeps towards an IPO.

Earlier this year, the company lined up a $100 million pre-IPO financing that valued the business at $1.85 billion. Postmates is backed by Tiger Global, BlackRock, Spark Capital, Uncork Capital, Founders Fund, Slow Ventures and others. Spark Capital’s Nabeel Hyatt tweeted the news earlier Friday.

Happy to welcome Kristin to the board of @Postmates. Great times ahead. https://t.co/nEqu3A2YkE

— Nabeel Hyatt (@nabeel) June 28, 2019

“Postmates has established itself as the market leader with a focus on innovation and route efficiency in the fast‐growing on‐demand delivery sector. Given their strong execution, accelerating growth, and financial discipline, they are well positioned for continued market growth across the U.S.,” said Reinke. “I’m thrilled to join the board.”

The startup has been beefing up its executive quiver, most recently hiring Apple veteran and author Ken Kocienda as a principal software engineer at Postmates X, the team building the food delivery company’s semi-autonomous sidewalk rover, Serve.

Kocienda, author of “Creative Selection: Inside Apple’s  Design Process During the Golden Age of Steve Jobs,” spent 15 years at Apple focused on human interface design, collaborating with engineers to develop the first iPhone, iPad and Apple Watch.

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Aug
29

Elon Musk is already dreaming of a monster 'next-generation' Starship. If built, the rocket's body would be wider than an NBA basketball court.

Elizabeth Holmes, the founder of the now-defunct biotech unicorn Theranos, will face trial in federal court next summer with penalties of up to 20 years in prison and millions of dollars in fines.

Jury selection will begin July 28, 2020, according to U.S. District Judge Edward J. Davila, who announced the trial will commence in August 2020 in a San Jose federal court Friday morning.

Holmes and former Theranos president Ramesh “Sunny” Balwani were indicted by a grand jury last June with 11 criminal charges in total. Two of those charges were conspiracy to commit wire fraud (against investors, and against doctors and patients). The remaining nine are actual wire fraud, with amounts ranging from the cost of a lab test to $100 million.

According to Bloomberg, Holmes’ legal team plans to argue that The Wall Street Journal’s John Carreyrou “had an undue influence on federal regulators,” and “went beyond reporting the Theranos story.”

“The jury should be aware that an outside actor, eager to break a story, and portray the story as a work of investigative journalism, was exerting influence on the regulatory process in a way that appears to have warped the agencies’ focus on the company and possibly biased the agencies’ findings against it,” her attorneys wrote, per Bloomberg. “The agencies’ interactions with Carreyrou thus go to the heart of the government’s case.”

Theranos, founded in 2003 by then 19-year-old Stanford dropout Holmes, raised more than $700 million from private market investors in what’s been referred to by the Securities and Exchange Commission as an “elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance.”

Theranos first came under scrutiny in October 2015, when Carreyrou published his first of many investigative pieces questioning the efficacy of Theranos’ blood-testing technology. At the time, Theranos was one of the most buzzworthy companies in Silicon Valley, boasting a valuation of $9 billion and the support of high-profile investors like Tim Draper and Robert Murdoch.

Theranos, as a result of Carreyrou’s reporting, was discovered to be a threat to public health. Its technology, as it turns out, was a long way from processing an expansive range of laboratory tests from just a few drops of blood.

According to The Wall Street Journal, federal prosecutors have collected more than 2 million pages of evidence for the defense teams. Holmes, despite ample evidence, has maintained her innocence since the grand jury indictment last year.

Following criminal charges, Holmes stepped down from Theranos last year; shortly after, the company ceased operations. Carreyrou, for his part, released a best-selling book, ‘Bad Blood,’ documenting Theranos’ secrets and lies. A documentary chronicling Holmes’ and Theranos’ rapid rise and fall was released by HBO in 2019. A Hollywood production starring Jennifer Lawrence as Elizabeth Holmes is reportedly in the works.

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Oct
31

Bosun Tijani talks strategy as CEO of Africa’s new largest tech hub

A malfunction in Facebook’s Software Development Kit that lets apps add Login With Facebook, sharing, and other features caused apps that integrate it like Timehop to repeatedly crash for about three hours. TechCrunch received a tip that developers were getting tons of user complaints and crash reports starting around noon pacific today due to a problem with the Facebook for iOS SDK. TechCrunch’s testing verified that products like Timehop, Joytunes’ Simply Piano, Momento GIFs, and more kept breaking when users access Facebook features or in some cases just opened the app.

This is a big issue for Facebook because it relies on these apps to drive user lock-in. If people use Facebook to log into or share from other apps, they’re less likely to delete their account. But if the Facebook developer platform screws up like this morning, developers could instead highlight sharing via Twitter or SMS, and divert ad buys to other platforms. Most problematically, the bug could push developers to other login platforms like Google’s or Apple’s new Sign In With Apple.

[Update: 3:45pm PT: Facebook has fixed the bug and apps integrated with the SDK are starting to work normally again. A Facebook spokesperson tells me “We started to work on the issue as soon as it was reported to us, and it has been resolved.” Facebook engineer Ram Sharma posted that “Our engineering team worked to resolve this issue as soon as it was discovered. It is now mitigated and app function should be restored.” Developers confirm the bug has been fixed. The rest of this article remains as originally published.]

The bug was initially submitted to Facebook’s developer forums by Ryan Layne. These crashes thwart normal usage of other apps, costing their developers ad views and in-app purchases, or leading their users to uninstall or abandon them.

Hitting the Connect Facebook button on Timehop causes the app to crash. Developers in Facebook’s bug reporting forum pile on saying their apps are breaking

The situation highlights the increasing centralization of the web as more and more companies depend on a small number of mobile, hosting, and social platforms. Earlier this month, a Google Cloud outage knocked down Snapchat and Discord. While these tools make it simpler to start a company or launch an app without having to build everything in-house, they introduce platform risk. Beyond technical outages, there’s also the concern that a platform could use its insights to copy its clients, or block them if they compete with the gatekeeper too vigorously as Facebook has done to chat and social media apps in the past.

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Jun
28

How startups can make influencer marketing work on a budget

Ishveen Anand Contributor
Ishveen is the CEO+Founder of OpenSponsorship.com, a marketplace she founded after her experiences being a successful sports agent, to bring transparency and affordability to the sports marketing industry, namely between brands and athletes.

Influencer Marketing has ballooned into a $25 billion industry, yet many marketing managers are left confused by this, because for them, it’s really not delivering the results to justify the hype.

Here’s the thing. Influencer marketing is not a one-size-fits-all marketing strategy such as Facebook or Adwords advertising. Each company needs to take a closer look at what influencer marketing can achieve, where it falls down, and how you can do a better job with this latest form of marketing that delivers, on average, $6.50 of value for every $1 spent.

The analysis below relies on clients and case studies from our experience at OpenSponsorship.com (my company) which is the largest marketplace connecting brands with over 5500 professional athletes for marketing campaigns.

With over 3500 deals to date across clients as big as Vitamin Shoppe and Anheuser Busch, established players like Jabra and Project Repat, and new startups like Brazyn and Gutzy, we have seen a lot go wrong (who knew you could disable comments on a post!) and a lot go right (an unknown skiier’s $100 Instagram, posted right before the Winter Olympics, going viral after he won the Silver)!!

Thanks to our in-house data experts, integrations with IBM Watson, robust ROI tracking tools and 10 years+ of experience combining the learnings of sports sponsorship with influencer marketing, we have gained extensive insights into campaign strategies.

We will share our learnings about what criteria to consider when choosing the best influencer to work with, figuring out how much to pay the influencer, what rights to ask for in the deal, what terms and conditions are reasonable and how to track ROI for the deal.

Table of Contents

Who is the right influencer?What is the right price to pay?What rights to include in the deal?T&Cs: need-to-have vs. nice-to-have?ROI, the holy grail, what and how to track?In Conclusion…

Who is the right influencer? 

At OpenSponsorship, we match brands with athletes for marketing campaigns, with a view to further expand into other areas of media and entertainment such as music artists, comedians, actors. Even within the athlete world, there is the concept of micro-influencers such as yogis, triathletes, marathon runners, all the way to macro-influencers such as NFL Quarterbacks, starting NBA point guards and everything in between.

Our 3 recommendations for picking the right influencers are:

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Jun
28

1Mby1M Virtual Accelerator Investor Forum: With Michael Smerklo of Next Coast Ventures (Part 5) - Sramana Mitra

Sramana Mitra: The geographies that you’ve mentioned, we have quite a bit of experience in some of them. Utah is really booming. Utah has taken that bootstrapping ethos to the ultimate levels of...

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Original author: Sramana Mitra

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Jun
28

Best of Bootstrapping: TimeSlips CEO Mitch Russo Bootstrapped to Exit - Sramana Mitra

CEO Mitch Russo tells the story of how he built TimeSlips and sold it to Sage. Very entertaining as well as instructive. Sramana Mitra: Let’s start at the very beginning of your journey. Where are...

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Original author: Sramana Mitra

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Jun
28

Shopify Goes on the Defensive with Amazon - Sramana Mitra

Ontario-based Shopify (NYSE:SHOP) continues to expand its B2C offerings and is now getting ready to take on Amazon. To drive revenue growth, Shopify is looking to invest heavily in the US fulfillment...

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Original author: MitraSramana

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Jun
28

Demand Curve: Email marketing tactics that convert subscribers into customers

I love weird Internet memes.

Recently, I plumbed the depths of this one with my friend Quinn. Go to your Google browser and type “did ab” and see what comes up for you.

If it’s “Did Abraham Lincoln Invent Pancakes” then the Internet is working as expected.

Of course, our next move was to go see if there was a website at https://didabrahamlincolninventpancakes.com/. A week ago there wasn’t, but there is one there now. Bwahahahahahahaha.

Did Abraham Lincoln Invent Pancakes? is now a permanent part of the web. I wonder what Google is going to do with it now?

Original author: Brad Feld

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Jul
27

Extra Crunch roundup: RapidSOS EC-1, how to prep for an M&A exit, inside Genki Forest

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

Our esteemed co-host Alex Wilhelm was out again this week, but Kate Clark was in the studio with the lovely TechCrunch editor Connie Loizos and Canvas Ventures’ general partner Rebecca Lynn. The wonderful Chris Gates is on vacation this week, so TechCrunch’s Megan Rose Dickey sat in the producer’s chair. That made this episode extra special, as it was our first all-female group on the mics and behind the scenes.

First on the docket was news from StockX and Cameo. The buzzy startups both raised big rounds this week. The former, a sneaker resale marketplace, closed on $110 million at a $1 billion valuation, while the latter attracted $50 million at a reported $300 million valuation. Rebecca shared her thoughts on the rise of influencer marketing and how its made way for the success of mobile apps and websites like Cameo, which caters to celebrities and influencers.

Next up was Brandless. The direct-to-consumer business made headlines this week after a report from The Information outlined internal drama following a big investment from SoftBank in 2018. Amid the turmoil, detailed here and here, the business brought on a brand-new CEO, former Walmart chief operating officer John Rittenhouse. Whether he can meet SoftBank’s steep demands remains to be seen. The whole thing leaves us wondering: Do any of SoftBank’s portfolio companies regret taking the firm’s money?

Finally, we talked about WeWork’s latest acquisition. The co-working giant bought Waltz, a smartphone app and reader that allows users to enter different properties with a single credential. The deal will make it easier for WeWork’s enterprise clients, such as GE Healthcare and Microsoft, to manage their employees’ on-demand memberships to WeWork spaces. WeWork has been quite acquisitive in 2019. Will its M&A activity help it prepare for an IPO? And why the hell does it still have an all-male board? We have more questions than answers.

That’s all for now. See you next week.

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

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Jun
28

1Mby1M Virtual Accelerator Investor Forum: With Sarbvir Singh of WaterBridge Ventures (Part 5) - Sramana Mitra

Sarbvir Singh: We believe that just focusing on size and hungry businesses is not always the right solution. We want to rightsize our fund. There is also the reality of running a fund and there is a...

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Original author: Sramana Mitra

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Jun
28

Jony Ive's Apple exit has been a 'long time in the making' after he was only turning up to the office twice a week

Apple announced the resignation of its famed design chief Jony Ive on Thursday after his near-30-year tenure at the company.

The news of came as a shock to many including analysts who described Ive as "irreplaceable" and said his departure would "leave a hole" in the company. On hearing the news, Apple's stock dropped -0.87%, wiping out $8 billion of Apple's market cap.

But Ive's departure had been a long time in the making, according to Business Insider's Troy Wolverton who said that there have been "rumblings for years" that he could leave after he shifted focus from the day-to-day business of designing Apple's products.

A new report from Bloomberg's Mark Gurman revealed that Ive had been "shedding responsibilities" since the launch of the Apple Watch in 2015 and he came into Apple's headquarters as little as twice a week.

Sources familiar with the matter told Bloomberg that many of Ive's meetings moved to San Francisco, where he lives and has an office and studio set up, to avoid him having to make the one hour commute to Apple's headquarters in Cupertino, California. Other meetings were reportedly held at the homes of his employees or at hotels.

"This has been a long time in the making," one person familiar with the matter told Bloomberg, who wished to remain anonymous as they were not authorized to discuss Ive's resignation. "He's been at Apple over 25 years, and it's a really taxing job."

Steve Jobs. Sean Gallup/Getty Images

Ive is considered to be the mastermind behind Apple's biggest products, including the iPhone, iPad, Apple Watch, Mac, and iPod. He joined the company when it was on the brink of bankruptcy in the late 1990s and help turn it into the trillion-dollar company that it is today.

He was also a close confidant of Steve Jobs, Apple's late cofounder and former CEO, and reported directly to him.

"Most of the greatest debates at Apple happened between those two as they walked together," Matt Rogers, cofounder of Nest Labs who worked on iPhone and iPod software from 2007 to 2010, told Bloomberg.

Jobs and Ive would lunch together regularly and walk around Apple's headquarters making design decisions together, according to Bloomberg. When Jobs died in 2011, Ive became the most important person at the company, it added.

But his intense stint at Apple had reportedly begun to wear him down. "It's been an extremely tense 25 years for him at Apple and there's a time for everyone to slow down," the person who wished to remain anonymous told Bloomberg.

Ive is now going on to set up his own design company, called LoveFrom. Apple will be one of his new clients.

Original author: Mary Hanbury

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Jun
28

Apple has a generational succession problem and Jony Ive's departure is the tip of the iceberg

Apple needs to make clear its succession plan, and fast.

The departure of its longtime and beloved chief design officer, Jony Ive, will retrigger worries that the Cupertino firm is losing its mojo. Apple has quelled such jitters once before, when CEO Tim Cook took the top job after the death of Steve Jobs in 2011.

But Ive, described as the Lennon to Jobs' McCartney, is an equally important loss, being the man who essentially changed the way we consume media on the go with the invention of the iPhone, iPad, and other iconic hardware.

In a brief note to clients this morning, Wedbush analyst Dan Ives described this as a "major changing of the guard within Cupertino."

Pertinently, he wrote: "The major question now going forward is around future product innovation with one of the key visionaries of the Apple brand gone.

"In our opinion this news only adds to the current agita around the Apple story as the company is branching out into television and gaming all while it is currently the poster child for the US/China UFC trade battle on the heels of the G20 summit."

The "current agita" around Apple is that the firm is navigating life after the iPhone by altering its business model to focus on services, rather than hardware. It's too early to say whether this will be a successful pivot, but the extremity of the shift is underscored by Ive's departure.

Jony Ive. Getty Images/Michael Kovac

Ive is 52, and his exit makes it clear that Apple isn't coming up with a major new hardware invention any time soon.

Who within Apple is up for the challenge of the post-iPhone era? Cook is 58. Services chief Eddy Cue is 54. Software boss Craig Federighi is 50, while marketing boss Phil Schiller is 59. Angela Ahrendts, the former Burberry CEO who failed to kickstart Apple's retail operations, is 59 and was out of Apple after only five years.

Read more: Wall Street is mourning the exit of Apple's 'irreplaceable' design chief, but is not predicting an existential crisis

The issue isn't age, exactly. It's that most of these people have already got extremely rich off navigating Apple's golden era, when it appeared to be capable of endless invention. Have they got the appetite for another revolution, or like Ive, are they getting " deeply, deeply tired?"

One new area of innovation may be healthcare. Apple has marketed the Apple Watch as a product to get people moving, and pushed the device's abilities at catching heart irregularities. Another is augmented-reality, with Bloomberg reporting that its next big product will be AR glasses.

The Financial Times, which broke the news of Ive's departure, noted that Apple is scooping up lots of senior outside talent with different skills. Ex-Googler John Giannandrea now runs Apple's AI strategy, while Sony veterans Jamie Erlicht and Zack Van Amberg are helping the firm push into Netflix territory with original video.

Cook has said the firm does have a succession plan in place, although Apple never comments publicly on it. With Ive's departure marking a symbolic end to Apple's hardware days, it might be time to spread the news about new blood.

Original author: Shona Ghosh

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Jun
28

Wall Street is mourning the exit of Apple's 'irreplaceable' design chief, but is not predicting an existential crisis (AAPL)

Wall Street is mourning the departure of one of Apple's most influential executives.

Design chief Jony Ive announced he was leaving the company on Thursday, bringing down the curtain on an illustrious 30-year tenure during which he was instrumental in iconic creations, including the iPhone.

Bloomberg's Mark Gurman reported that Ive's news was not a massive shock to close Apple watchers. The British executive, now 52, has complained of tiredness and reduced his office hours to just two days a week, Bloomberg said.

Nevertheless, his decision to set up his own firm was viewed as a blow to Apple — which is down roughly 1% in pre-market trading — by some top Wall Street analysts.

Despite Bloomberg's assessment of Ive shedding his duties, Wedbush's Dan Ives said his exit is a "surprise to the Street." He added: "Ive is leaving a hole in the company and is clearly irreplaceable as he has been one of the most important figures at Apple throughout the past few decades."

Read more: Apple's departed: Here's everyone who's left Apple recently

Deutsche Bank said Ive is second only to CEO Tim Cook in terms of his role in Apple's success. Analysts at the investment back added that they see "Ive's contributions to AAPL products as central to the company's design-centric strategy, which has propelled it to one of the largest companies in the world over the last 20."

Nomura took a similar view. In a note to clients, it said Ive's exit "should prompt much nostalgia, and may lead some investors to question Apple's ability to retain leading industrial design."

Both investment banks said there will be life after Ive, however.

Nomura said it was a "sensible" time to step back, amid Apple's efforts to lean into its services division. Apple's imperious approach to design and innovation "transcends a single individual," Nomura added.

In a more functional assessment, Deutsche Bank said: "We are confident that AAPL can find others internally to fill some of his responsibilities."

Wedbush, Nomura, and Deutsche Bank all noted that Ive is not going far. His new company LoveFrom will work closely with Apple, according to the designer. "Ive's legacy and Apple's design engine are both secure," Nomura said.

Original author: Jake Kanter

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