Mar
31

The Crash

“The book itself is a curious artefact, not showy in its technology but complex and extremely efficient: a really neat little device, compact, often very pleasant to look at and handle, that can last decades, even centuries. It doesn’t have to be plugged in, activated, or performed by a machine; all it needs is light, a human eye, and a human mind. It is not one of a kind, and it is not ephemeral. It lasts. It is reliable. If a book told you something when you were 15, it will tell it to you again when you’re 50, though you may understand it so differently that it seems you’re reading a whole new book.”—Ursula K. Le Guin

Every year, Bill Gates goes off-grid, leaves friends and family behind, and spends two weeks holed up in a cabin reading books. His annual reading list rivals Oprah’s Book Club as a publishing kingmaker. Not to be outdone, Mark Zuckerberg shared a reading recommendation every two weeks for a year, dubbing 2015 his “Year of Books.” Susan Wojcicki, CEO of YouTube, joined the board of Room to Read when she realized how books like The Evolution of Calpurnia Tate were inspiring girls to pursue careers in science and technology. Many a biotech entrepreneur treasures a dog-eared copy of Daniel Suarez’s Change Agent, which extrapolates the future of CRISPR. Noah Yuval Harari’s sweeping account of world history, Sapiens, is de rigueur for Silicon Valley nightstands.

This obsession with literature isn’t limited to founders. Investors are just as avid bookworms. “Reading was my first love,” says AngelList’s Naval Ravikant. “There is always a book to capture the imagination.” Ravikant reads dozens of books at a time, dipping in and out of each one nonlinearly. When asked about his preternatural instincts, Lux Capital’s Josh Wolfe advised investors to “read voraciously and connect dots.” Foundry Group’s Brad Feld has reviewed 1,197 books on Goodreads and especially loves science fiction novels that “make the step function leaps in imagination that represent the coming dislocation from our current reality.”

This begs a fascinating question: Why do the people building the future spend so much of their scarcest resource — time — reading books?

Image by NiseriN via Getty Images. Reading time approximately 14 minutes.

Don’t Predict, Reframe

Do innovators read in order to mine literature for ideas? The Kindle was built to the specs of a science fictional children’s storybook featured in Neal Stephenson’s novel The Diamond Age, in fact, the Kindle project team was originally codenamed “Fiona” after the novel’s protagonist. Jeff Bezos later hired Stephenson as the first employee at his space startup Blue Origin. But this literary prototyping is the exception that proves the rule. To understand the extent of the feedback loop between books and technology, it’s necessary to attack the subject from a less direct angle.

David Mitchell’s Cloud Atlas is full of indirect angles that all manage to reveal deeper truths. It’s a mind-bending novel that follows six different characters through an intricate web of interconnected stories spanning three centuries. The book is a feat of pure M.C. Escher-esque imagination, featuring a structure as creative and compelling as its content. Mitchell takes the reader on a journey ranging from the 19th century South Pacific to a far-future Korean corpocracy and challenges the reader to rethink the very idea of civilization along the way. “Power, time, gravity, love,” writes Mitchell. “The forces that really kick ass are all invisible.”

The technological incarnations of these invisible forces are precisely what Kevin Kelly seeks to catalog in The Inevitable. Kelly is an enthusiastic observer of the impact of technology on the human condition. He was a co-founder of Wired, and the insights explored in his book are deep, provocative, and wide-ranging. In his own words, “When answers become cheap, good questions become more difficult and therefore more valuable.” The Inevitable raises many important questions that will shape the next few decades, not least of which concern the impacts of AI:

“Over the past 60 years, as mechanical processes have replicated behaviors and talents we thought were unique to humans, we’ve had to change our minds about what sets us apart. As we invent more species of AI, we will be forced to surrender more of what is supposedly unique about humans. Each step of surrender—we are not the only mind that can play chess, fly a plane, make music, or invent a mathematical law—will be painful and sad. We’ll spend the next three decades—indeed, perhaps the next century—in a permanent identity crisis, continually asking ourselves what humans are good for. If we aren’t unique toolmakers, or artists, or moral ethicists, then what, if anything, makes us special? In the grandest irony of all, the greatest benefit of an everyday, utilitarian AI will not be increased productivity or an economics of abundance or a new way of doing science—although all those will happen. The greatest benefit of the arrival of artificial intelligence is that AIs will help define humanity. We need AIs to tell us who we are.”

It is precisely this kind of an AI-influenced world that Richard Powers describes so powerfully in his extraordinary novel The Overstory:

“Signals swarm through Mimi’s phone. Suppressed updates and smart alerts chime at her. Notifications to flick away. Viral memes and clickable comment wars, millions of unread posts demanding to be ranked. Everyone around her in the park is likewise busy, tapping and swiping, each with a universe in his palm. A massive, crowd-sourced urgency unfolds in Like-Land, and the learners, watching over these humans’ shoulders, noting each time a person clicks, begin to see what it might be: people, vanishing en masse into a replicated paradise.”

Taking this a step further, Virginia Heffernan points out in Magic and Loss that living in a digitally mediated reality impacts our inner lives at least as much as the world we inhabit:

“The Internet suggests immortality—comes just shy of promising it—with its magic. With its readability and persistence of data. With its suggestion of universal connectedness. With its disembodied imagines and sounds. And then, just as suddenly, it stirs grief: the deep feeling that digitization has cost us something very profound. That connectedness is illusory; that we’re all more alone than ever.”

And it is the questionable assumptions underlying such a future that Nick Harkaway enumerates in his existential speculative thriller Gnomon:

“Imagine how safe it would feel to know that no one could ever commit a crime of violence and go unnoticed, ever again. Imagine what it would mean to us to know—know for certain—that the plane or the bus we’re travelling on is properly maintained, that the teacher who looks after our children doesn’t have ugly secrets. All it would cost is our privacy, and to be honest who really cares about that? What secrets would you need to keep from a mathematical construct without a heart? From a card index? Why would it matter? And there couldn’t be any abuse of the system, because the system would be built not to allow it. It’s the pathway we’re taking now, that we’ve been on for a while.” 

Machine learning pioneer, former President of Google China, and leading Chinese venture capitalist Kai-Fu Lee loves reading science fiction in this vein — books that extrapolate AI futures — like Hao Jingfang’s Hugo Award-winning Folding Beijing. Lee’s own book, AI Superpowers, provides a thought-provoking overview of the burgeoning feedback loop between machine learning and geopolitics. As AI becomes more and more powerful, it becomes an instrument of power, and this book outlines what that means for the 21st century world stage:

“Many techno-optimists and historians would argue that productivity gains from new technology almost always produce benefits throughout the economy, creating more jobs and prosperity than before. But not all inventions are created equal. Some changes replace one kind of labor (the calculator), and some disrupt a whole industry (the cotton gin). Then there are technological changes on a grander scale. These don’t merely affect one task or one industry but drive changes across hundreds of them. In the past three centuries, we’ve only really seen three such inventions: the steam engine, electrification, and information technology.”

So what’s different this time? Lee points out that “AI is inherently monopolistic: A company with more data and better algorithms will gain ever more users and data. This self-reinforcing cycle will lead to winner-take-all markets, with one company making massive profits while its rivals languish.” This tendency toward centralization has profound implications for the restructuring of world order:

“The AI revolution will be of the magnitude of the Industrial Revolution—but probably larger and definitely faster. Where the steam engine only took over physical labor, AI can perform both intellectual and physical labor. And where the Industrial Revolution took centuries to spread beyond Europe and the U.S., AI applications are already being adopted simultaneously all across the world.”

Cloud Atlas, The Inevitable, The Overstory, Gnomon, Folding Beijing, and AI Superpowers might appear to predict the future, but in fact they do something far more interesting and useful: reframe the present. They invite us to look at the world from new angles and through fresh eyes. And cultivating “beginner’s mind” is the problem for anyone hoping to build or bet on the future.

Continue reading
  13 Hits
Feb
16

February 20 – 432nd 1Mby1M Mentoring Roundtable for Entrepreneurs - Sramana Mitra

Entrepreneurs are invited to the 432nd FREE online 1Mby1M mentoring roundtable on Wednesday, February 20, 2019, at 8 a.m. PST/11 a.m. EST/5 p.m. CET/9:30 p.m. India IST. If you are a serious...

___

Original author: Maureen Kelly

Continue reading
  31 Hits
Feb
16

431st Roundtable Recording on February 14, 2019: With Yash Hemaraj, Arka Venture Labs and BGV - Sramana Mitra

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

___

Original author: Maureen Kelly

Continue reading
  42 Hits
Jun
16

Thursday, June 18 – 490th 1Mby1M Mentoring Roundtable for Entrepreneurs - Sramana Mitra

Greetings from Chittorgarh, one of my stops on a two-week excursion through Goa and Rajasthan, India. I’ve been a little too busy exploring, photographing cows and monkeys and eating a lot of delicious food to keep up with *all* the tech news, but I’ve still got the highlights.

For starters, if you haven’t heard yet, TechCrunch launched Extra Crunch, a paid premium subscription offering full of amazing content. As part of Extra Crunch, we’ll be doing deep dives on select businesses, beginning with Patreon. Read Patreon’s founding story here and learn how two college roommates built the world’s leading creator platform. Plus, we’ve got insights on Patreon’s product, business strategy, competitors and more.

Sign up for Extra Crunch membership here.

On to other news…

Y Combinator’s latest batch of startups is huge

So huge the Silicon Valley accelerator had to move locations and set up two stages at its upcoming demo days (March 18-19) to accommodate the more than 200 startups ready to pitch investors (who will have to hop between stages at the event). There will also be a virtual demo day live-streamed for some investors to watch “because there are so few seats.” Here’s what I’m wondering… At what point is a YC cohort too big? If investors aren’t even able to view all the companies at Demo Day, what exactly is the point? Send me your thoughts.

Deal of the week

Another week, another SoftBank deal. The Vision Fund’s latest bet is autonomous delivery. The Japanese telecom giant has invested $940 million in Nuro, the developer of a custom unmanned vehicle designed for last-mile delivery of local goods and services. The startup, also backed by Greylock and Gaorong Capital, will use the cash to expand its delivery service, add new partners, hire employees and scale up its fleet of self-driving bots. And while we’re on the subject of autonomous, TuSimple, a self-driving truck startup, has raised a $95 million Series D at a unicorn valuation.

Mamoon Hamid and Ilya Fushman

The future of KPCB

TechCrunch’s Connie Loizos spoke with Mamoon Hamid and Ilya Fushman, who joined Kleiner Perkins from Social Capital and Index Ventures, respectively. The pair talked about Kleiner Perkins, touching on people who’ve left the firm, how its decision-making process now works, why there are no senior women in its ranks and what they make of SoftBank’s Vision Fund.

Here’s your weekly reminder to send me tips, suggestions and more to This email address is being protected from spambots. You need JavaScript enabled to view it. or @KateClarkTweets

Facebook almost bought Unity

Facebook CEO Mark Zuckerberg considered a multi-billion-dollar purchase of Unity, a game development platform. This is according to a new book coming out next week, “The History of the Future,” by Blake Harris, which digs deep into the founding story of Oculus and the drama surrounding the Facebook acquisition, subsequent lawsuits and personal politics of founder Palmer Luckey. Here’s more on the acquisition-that-could-have-been from TechCrunch’s Lucas Matney.

Venture capital funds

Indonesia-focused Intudo Ventures raised a new $50 million fund this week to invest in the world’s fourth most populated country; InReach Ventures, the “AI-powered” European VC, closed a new €53 million early-stage vehicle; and btov Partners closed an €80 million fund aimed at industrial tech startups.

Xiaomi-backed electric toothbrush startup Soocas raises $30M

Startup cash

Jobvite raises $200M+ and acquires three recruitment startups to expand its platform play
Opendoor files to raise another $200M
DriveNets emerges from stealth with $110M for its cloud-based alternative to network routers
Figma gets $40M Series C to put design tools in the cloud
Xiaomi-backed electric toothbrush Soocas raises $30 million Series C
Malt raises $28.6 million for its freelancer platform
Elevate Security announces $8M Series A to alter employee security behavior
Massless raises $2M to build an Apple Pencil for virtual reality

Subscription scooters

Just when you thought the scooter boom and the subscription-boom wouldn’t intersect, Grover arrived to prove you wrong. The startup is launching an e-scooter monthly subscription service in Germany. Their big idea is that instead of purchasing an e-scooter outright, GroverGo customers can enjoy unlimited e-scooter rides without the upfront costs or commitment of owning an e-scooter.

Listen to me talk

If you enjoy this newsletter, be sure to check out TechCrunch’s venture-focused podcast, Equity. In this week’s episode, available here, Crunchbase News editor-in-chief Alex Wilhelm and General Catalyst’s Niko Bonatsos chat startups.

Want more TechCrunch newsletters? Sign up here.

Continue reading
  30 Hits
Sep
07

Sonatype raises $80 million to build out Nexus platform

Apple has just bought up the talent it needs to make talking toys a part of Siri, HomePod, and its voice strategy. Apple has acquired PullString, also known as ToyTalk, according to Axios’ Dan Primack and Ina Fried. TechCrunch has received confirmation of the acquistion from sources with knowledge of the deal. The startup makes voice experience design tools, artificial intelligence to power those experiences, and toys like talking Barbie and Thomas The Tank Engine toys in partnership with Mattel. Founded in 2011 by former Pixar executives, PullString went on to raise $44 million.

Apple’s Siri is seen as lagging far behind Amazon Alexa and Google Assistant, not only in voice recognition and utility, but also in terms of developer ecosystem. Google and Amazon has built platforms to distribute Skills from tons of voice app makers, including storytelling, quizzes, and other games for kids. If Apple wants to take a real shot at becoming the center of your connected living room with Siri and HomePod, it will need to play nice with the children who spend their time there. Buying PullString could jumpstart Apple’s in-house catalog of speech-activated toys for kids as well as beef up its tools for voice developers.

PullString did catch some flack for being a “child surveillance device” back in 2015, but countered by detailing the security built intoHello Barbie product and saying it’d never been hacked to steal childrens’ voice recordings or other sensitive info. Privacy norms have changed since with so many people readily buying always-listening Echos and Google Homes.

In 2016 it rebranded as PullString with a focus on developers tools that allow for visually mapping out conversations and publishing finished products to the Google and Amazon platforms. Given SiriKit’s complexity and lack of features, PullString’s Converse platform could pave the way for a lot more developers to jump into building voice products for Apple’s devices.

We’ve reached out to Apple and PullString for more details about whether PullString and ToyTalk’s products will remain available.

The startup raised its cash from investors including Khosla Ventures, CRV, Greylock, First Round, and True Ventures, with a Series D in 2016 as its last raise that PitchBook says valued the startup at $160 million. While the voicetech space has since exploded, it can still be difficult for voice experience developers to earn money without accompanying physical products, and many enterprises still aren’t sure what to build with tools like those offered by PullString. That might have led the startup to see a brighter future with Apple, strengthening one of the most ubiquitous though also most detested voice assistants.

Continue reading
  84 Hits
Jun
15

Book: The Blacker The Berry

Thanks to environmentally conscious young buyers, throwaway culture is dying not only in the U.S., but also in Latin America — and startups are poised to jump in with services to help people recycle used clothing.

GoTrendier, a peer-to-peer fashion marketplace operative in Mexico and Colombia, has raised $3.5 million USD to do just that. And investors are eyeing the startup as the digital fashion marketplace growth leader in Spanish-speaking countries. 

GoTrendier, founded by Belén Cabido, is a platform that lets users buy and sell secondhand clothing. Cabido tells me that the new capital will enable GoTrendier to expand deeper into Mexico and Colombia, and launch in a new country: Chile. 

GoTrendier enables users to buy and sell used items through the GoTrendier site and app. The platform categorizes users as either salespeople or buyers. Salespeople create their own stores by uploading photos of garments along with a description and sale price. Buyers browse the platform for deals and once a buyer bites, the seller is given a prepaid shipping label. 

Sound familiar? Businesses like Poshmark and GoTrendier have no actual inventory, which allows the companies to take on less of a risk by having smaller overhead costs. In turn, the company acts as more of a social community for fashion exchanges.

In order to make money, Poshmark takes a flat commission of $2.95 for sales under $15. For anything more than that, the seller keeps 80 percent of their sale and Poshmark takes a 20 percent commission. Poshmark also owes its success to the socially connected shopping experience it created and the audience building features available to sellers — as detailed in this Harvard Business School study. GoTrendier has a similar commission pricing strategy, taking 20 percent off plus an additional nine pesos (about 48 cents in U.S. currency) for all purchases. The service also takes advantage of social media and sharing features to help connect and engage its fashion-loving community. 

But these companies are also largely venture-backed. In the case of GoTrendier, the round gave shareholder entry to Ataria, a Peruvian fund that invests in early-stage tech companies with high earning potential. Existing investors Banco Sabadell and IGNIA reinforced their position, along with Barcelona-based investors Antai Venture Builder, Bonsai Venture Capital and Pedralbes Partners.

GoTrendier amassed a user base of 1.3 million buyers and sellers throughout its four years of existence. The service operates in Mexico and Colombia, and will use its newest capital to launch in Chile — another market Cabido says is experiencing high demand for a secondhand fashion buying and selling service.

Online marketplace companies are growing in Latin America as smartphone adoption and digital banking services multiply in the region. But international expansion has proven to be an issue. Enjoei, a similar fashion marketplace that owns the market share in Brazil, had a botched attempt at expanding to Argentina due to Portugese-Spanish language barriers and eventually determined that Brazil was a large enough market in which to build its business — thus carving out an opportunity for companies like GoTrendier that offer the same services to dominate the surrounding Spanish-speaking markets in Latin America.

Many have remarked that Latin America’s tech scene is filled with copycats — or companies that emulate the business models of American or European startups and bring the same service to their home market. In order to secure bigger foreign investment checks, founders from growing tech regions like Latin America certainly must invent proprietary technologies. Yet there’s still value — and capital — in so-called copycat businesses. Why? Because the users are there and in some cases it’s just easier to start up.

According to investor Sergio Pérez of Sabadell Venture Capital, “The volume of the market for buying and selling second-hand clothes in the world was 360 million transactions in 2017 and is expected to reach 400 million in 2022.” A 2018 report from ThredUp also claimed that the size of the global secondhand market is set to hit $41 billion by 2022. The “throwaway” culture is disappearing thanks to environmentally conscious millennial buyers. As designer Stella McCartney famously said, “The future of fashion is circular – it will be restorative and regenerative by design and the clothes we love never end up as waste.” By buying on GoTrendier, the company claims its users have been able to save USD $12 million and have avoided more than 1,000 tons of CO2 emissions.

Founders building companies in Latin America aren’t necessarily as capital-hungry as Silicon Valley-based founders, (where a Series A can now equate to $68 million, apparently). Cabido tells me her company is able to fulfill operations and marketing needs with a lean staff of 30, noting that there’s a lot of natural demand for buying and selling used clothing in these regions, thus creating organic growth for her business. She wasn’t looking to raise capital, but investors had their eye on her. “[Investors] saw the tension of the marketplace, and we demonstrated that GoTrendier’s user base could be bigger and bigger,” she says. With sights set on new markets like Chile and Peru, Cabido decided to move forward and close the round.  

Poshmark, which benefits from indirect and same-side network effects, has raised $153 million to date from investors like Temasek Holdings, GGV and Menlo Ventures. Just like GoTrendier, Poshmark’s Series A was also a $3.5 million round.

Who’s to say that that amount of capital can’t boost a network effects growth model in Latin America too? The users are certainly waiting. 

Continue reading
  56 Hits
Feb
15

Bootstrapping from Denmark: Camilla Ley Valentin, Co-Founder of Queue-It (Part 2) - Sramana Mitra

Camilla Ley Valentine: I moved into a company called EDS at that time. Now, it’s been acquired by HP. I managed a bunch of projects. A lot of them had to with the transportation industry. Going from...

___

Original author: Sramana Mitra

Continue reading
  13 Hits
Feb
15

1Mby1M Virtual Accelerator Investor Forum: With Alireza Rahnema of 7 Gate Ventures (Part 5) - Sramana Mitra

Sramana Mitra: How are people thinking about this unicorn versus non-unicorn versus niches? How is the Canadian investment in general thinking about this? Alireza Rahnema: I’ve work about this when...

___

Original author: Sramana Mitra

Continue reading
  16 Hits
Sep
02

Fintech startup Jeeves raises $57M, goes from YC to $500M valuation in one year

3DEN is building spaces for what it calls the “in-between moments” of your day.

The name (pronounced “Eden”) comes from the idea of the “third place” — a space that’s neither home nor work. Founder and CEO Ben Silver told me the goal is to create a space that people can use if, say, they’ve got 45 minutes to fill between meetings, or if they’ve just gotten off a red-eye flight and need somewhere to freshen up.

Coffee shops, co-working spaces, gyms or hotels might serve some of those functions, but Silver said 3DEN is “aggregating many different services” and bringing them together into “a very reliable space.” He suggested that the closest analogue might be a members-only clubhouse — except that instead of charging a steep membership fee, 3DEN requires no commitment, with pricing starting at $6 for each 30 minutes of your visit.

Earlier this week, I dropped by the site of the first 3DEN, located in the shopping area of New York City’s Hudson Yards development. The space is still being built, but I saw booths for phone calls, private showers and even swings for relaxing.

Silver said there will be a meditation space and Casper nap pods, too. He emphasized the nature-inspired design, with plenty of trees and plants, as well as the space’s “acoustic zoning,” with some areas designated for socializing and others designed to be quieter and more restful.

So if you want to catch up on some work, make some calls or even host a meeting (you can invite and pay for up to two guests), you can do that. If you just want to chill out and relax, you can do that, too.

Silver said that while the space will be staffed with a few hosts, technology will be key to the experience, with most transactions being handled via smartphone app. If you’re interested in visiting an 3DEN space, you check-in via the app (which will tell you the current crowd level, and put you on the waiting list if the space is at capacity); you can also reserve a shower and make purchases.

3DEN’s core services will be included in that $6-per-half-hour price, but Silver said there will be a retail element as well, with visitors able to buy products in categories like food and health/beauty. He also said he’s exploring additional pricing models (such as corporate memberships) for regular guests, but he emphasized the importance of “no commitments” pricing that makes the space accessible to a wide swath of visitors.

The seed round was led by b8ta and Graphene Ventures, with participation from Colle Capital Partners, The Stable, JTRE, InVision CEO Clark Valberg, Target’s former Chief Strategy and Innovation Officer Casey Carl and Firebase founder Andrew Lee.

The first 3DEN location has a planned opening of March 15, and Silver said the company is also negotiating for four additional locations across New York City.

Continue reading
  49 Hits
Dec
01

Will Skyrim ruin Starfield?

According to an Edison Research report, nearly 73 million people in the US listen to some form of podcast on a monthly basis. While podcasts have been around for a while, the service gained...

___

Original author: MitraSramana

Continue reading
  16 Hits
Feb
15

Bootstrap First and Raise Money Later - Sramana Mitra

I wrote a book called Billion Dollar Unicorns a few years back. Writing this book took me through the extensive process of talking to entrepreneurs who have built tech companies with valuations above...

___

Original author: Sramana Mitra

Continue reading
  61 Hits
Aug
23

Ray, the machine learning tech behind OpenAI, levels up to Ray 2.0

The New York Times has been on a subscription growth tear, hitting 4.3 million print and digital subscriptions by the end of 2018. Based on those results, it's looking to increase the price this year and set a goal of exceeding 10 million subscriptions by 2025.

Read more: Vox Media is asking people to help cover the high cost of making videos with a $4.99-a-month membership program

With all the widespread layoffs in media lately, the question looms of how online news can be financially viable. It's tempting to think that the success of the Times means success for the other publishers that are turning to paywalls to complement their advertising business, like Condé Nast, New York Media, and The Atlantic.

But a rising Times doesn't necessarily lift all boats. While the strong news cycle drives reader interest and willingness to pay for news, there's a finite number of subscriptions people will pay for. Only 8% of people in the US pay for an ongoing news subscription, according to the Reuters Institute's 2017 report, Paying for News.

The institute's 2019 report, "Journalism, Media, Technology Trends and Predictions 2019," warns that there may be pushback from consumers as they encounter more paywalls on sites.

The Times has a number of things going for it that other publications don't. Advertising as well as subscription growth enabled it to add 120 journalists last year for a total of 1,600, the biggest in Times history, EVP and COO Meredith Levien said. She said the paper would add more journalists this year, without committing to a number. When it comes to the breadth of reporting in the Times, she said, "I'm not sure we have a peer."

"As we get better at the product, we're also making it more valuable," Levien told Business Insider. "I don't think there are a lot of places in news where you can say that."

Meanwhile, many other publishers have been laying off rather than adding journalists.

The Times also can afford to spend a lot to improve on and grow its products, which helps sell subscriptions. It's planning to make improvements to its app. It recently rolled out a Cooking subscription product and is planning to introduce more subscription-based puzzles, a parenting product, and other utility-based products. One third of new subscriptions are coming from crossword puzzles and Cooking.

The Times also has a big marketing budget it can use to attract subscribers and market its brand. It spent $48.6 million in the fourth quarter of 2018, up from $32.6 million in the year-ago period.

It's especially hard for general news publications to differentiate themselves enough to attract subscriptions, but The Times' journalistic distinction and ongoing improvements have helped it win subscribers.

The paper was promoting a $1-per-week special, half off the regular price, for six months. But Levien said people readily pay full price after the introductory period ends, though she wouldn't say the retention rate. Asked about the impact of competitors cutting their prices, she said the Times is fundamentally different and "worth paying more for."

"We've had a number of people come in at 50% off who we had to step up to full price, and that went really well," she said. "We're getting better at how we onboard you and interact with you in the first 90 days. We're still not as good as the best subscription companies out there, but we're a lot better than we were, and that gives us confidence we should be able to retain at whatever offer we get people in at."

In fact, the Times is also thinking more about how to get at high-end subscribers, after testing discounts with price-sensitive people in mind.

"We're putting lot of thought into how to get at the high end of the demand curve," she said. "We'll test higher prices. We'll put out more product. We keep putting more value in the paper."

Original author: Lucia Moses

Continue reading
  113 Hits
Jun
16

Supporting Arlan Hamilton’s Project Cover

The format is geared toward getting brands to spend more with Amazon, but agencies say it's unclear which kind of advertiser the format is aimed at. Agencies cited issues with creative, price and data as main reasons the ad format has been sluggish to take off with clients.

Amazon is clamoring for ad budgets from big brands to prove that its platform is more than an e-commerce machine, but agencies say that the company's pitch for video dollars has a few snags.

Last fall, Amazon quietly rolled out video ads in mobile search results in its iPhone app. The ad format is called "video in search" and lets brands buy ads against broad keyword searches like "paper towels," "mascara" and "dog food." The ads show up below the fold in mobile search results.

In the past week, General Mills-owned Blue Buffalo Pet Products, Procter & Gamble's Tide, CoverGirl, Brawny and online cosmetic brand Elizabeth Mott have run such video ads. The ads match Amazon's lucrative targeting data with short product videos that appear in search results when shoppers are looking for specific products.

Amazon's growing ad business is primarily known as a direct-response vehicle, but it's been less successful helping marketers increase brand awareness. Amazon's mobile video ads could appeal to brands that do a lot of video advertising.

Amazon is testing the ad format in a small beta program where brands can only buy them directly through an Amazon sales representative. But several sources said Amazon plans to make the format available through its self-serve ad platform this quarter. Three sources said Amazon simultaneously plans to roll out ads in its Android app, which would double the amount of ad inventory sold and open price bidding to advertisers.

But agencies say the video ads have been a tough sell for performance and brand-oriented marketers because it's unclear which group Amazon is targeting.

"You've got this middle of the road, really fascinating ad format, but it becomes difficult to bucket as an upper-funnel video tactic or a performance search tactic," said Emily Anthony, senior director of media services at Merkle. "It's in this weird middle ground between their search product and managed service, which typically [includes] higher impact ad formats and more awareness-based media."

Read more: Big brands like Verizon and Toyota are backing Amazon's Freedive as the e-commerce giant pushes deeper into OTT advertising

"It's not something that we have clients clamoring for," Nich Weinheimer, VP of e-commerce at Kenshoo, a third-party marketing tech platform that helps marketers plan and buy digital ads, said of the search-based video ads. "To Amazon's credit, they're trying to figure out if there's space for video in the low-funnel shopping experience. For most marketers that leverage Amazon, it's very transactional, it's all about sell-through. Amazon's trying to make strides to develop that consideration phase of their site and engage with a brand more broadly."

Some performance marketers are having sticker shock

Agencies struggle with Amazon's search-based video format for other reasons.

The format uses exact-match targeting, a search marketing tactic where ads are targeted to run against broad terms like "toothpaste" or "dog food," but search advertisers like to use more specific keywords like "whitening toothpaste" or target competitors' names.

"It's a low-volume play at the moment because the keywords are defined by Amazon, and the budget overall is determined by Amazon," said David Hutchinson, national director of paid platform merchandising at iProspect.

There's evidence that's starting to change. A quick search on Amazon's mobile app shows that Georgia-Pacific's Brawny, for example, is targeting its competitors and running ads alongside searches for "Bounty paper towels" and "Sparkle paper towels" in addition to its own query of "Brawny paper towels" and the more generic "paper towels" query.

Merkle's Anthony added that the below-the-fold placement can make ads buried in search results. To compare, Amazon has text-based search ads that appear at the top of search results.

Price is another concern. The campaigns require advertisers to spend a minimum of $35,000 to $50,000, depending on the demand of the keyword, which agencies said is too expensive for most search advertisers, especially because there aren't any case studies or results to prove that the ads perform. Anthony said the price would need to drop to $10,000 for her clients to get on board.

Amazon has its own definition of a view

Rina Yashayeva, VP of marketplace strategy at Amazon-focused ad agency Stella Rising, said the agency began pitching a beauty brand on Amazon's video ads last week and hinted that Amazon may be willing to budge on price.

"I think there's an opportunity to work with the Amazon advertising team if you commit to something early on to negotiate a smaller budget if you can test it for a shorter period of time," she said.

Sources also said that they'd like to see the ad format sold through Amazon's self-service platform so they could bid on ads as they can with Amazon search ads.

Another issue is the pricing approach. Search advertisers typically buy ads on a cost-per-impression, or CPM, basis. However, video advertisers typically buy ads on cost-per-view (or CPV) basis. Amazon's video ads are priced at 5 cents per view, according to one source, and a view counts as two seconds, starting when a video begins autoplaying on the screen as a user scrolls. Videos can be up to 90 seconds long, though most advertisers seem to run ads that are less than 15 seconds long.

Amazon's definition of a view differs from that of Facebook, which primarily counts a view as three seconds; and YouTube, which has long counted a view as 30 seconds but recently began counting views as 10 seconds for some ads.

Amazon's autoplay video feature "has been a bit of bone of contention," said iProspect's Hutchinson. "It doesn't quite seem like the industry norm."

Amazon is notorious for withholding data with advertisers, and agencies said the data Amazon gives them from the direct-sold video ad campaigns doesn't match the data Amazon supplies through its self-serve platform, making it hard to compare the performance of video campaigns to existing search campaigns.

"The two big pushbacks have been: 'We don't have the right kind of creative or we're not comfortable with the attribution that you're getting back,'" said iProspect's Hutchinson. "Amazon builds and reports on the campaign behind the scenes."

The format often requires brands to come up with new creative

Figuring out the right creative approach is another challenge. The creative needs to be promotional and quickly show images of products within the first few seconds, according to best practices Amazon published on its website. Agencies have found the sweet spot with video length to be under 10 seconds.

IProspect found eight seconds to be ideal, but Hutchinson said that brands don't have such assets readily available, so making them adds to the production cost.

For a fashion client, iProspect tested a video ad in Amazon search results and found that the creative was too long at more than 10 seconds to get people to click through on it.

"There wasn't the attribution to see the sales so it was one that couldn't sustain a second test until we got creative specifically designed for the product shots," he said. "To get that creative briefed in, something would have had to be scarified and there's far more established channels and places for that creative to go."

The challenges with video reflect advertisers' larger frustrations getting a handle on Amazon's ad business. Amazon has integrated its advertising teams into a single brand, but agencies say it's still difficult to navigate the company's ad products, which sit in different divisions.

"You have two traditionally separate groups that are trying to handshake with this product," said Kenshoo's Weinheimer.

Original author: Lauren Johnson

Continue reading
  82 Hits
Nov
30

Mainframe Industries raises $22.9M for cloud-native games

AI research nonprofit OpenAI has created a system that can generate fake text from a single line — and it's not open-sourcing the code for fear of misuse.

OpenAI was cofounded by tech mogul Elon Musk, and its sponsors include Silicon Valley heavy-hitters such as Peter Thiel and Amazon Web Services.

Last year it gained the praise of Bill Gates after it built a team of five neural networks capable of beating human players in the computer game "Dota 2."

Read more: Bill Gates hails "huge milestone" for AI as bots work in a team to destroy humans at video game "Dota 2"

Now the company has created a system, named GPT2, capable of imitating and generating text based on only a sentence.

The Guardian's Alex Hern got to play with the system, and tried typing in a single Guardian headline about Brexit. From that headline alone, GPT2 was able to generate quotes from UK Labour leader Jeremy Corbyn as well as a fictional spokesman for Prime Minister Theresa May.

"The PM has made it absolutely clear her intention is to leave the EU as quickly as is possible and that will be under her negotiating mandate as confirmed in the Queen's speech last week," the fictional spokesman said.

You can watch Hern's experiment with the text-generating tool here:

Hern also tried feeding the system the first line of George Orwell's 1984: "It was a bright cold day in April, and the clocks were striking thirteen." From that, GPT2 spun the following snippet of prose:

"I was in my car on my way to a new job in Seattle. I put the gas in, put the key in, and then I let it run. I just imagined what the day would be like. A hundred years from now. In 2045, I was a teacher in some school in a poor part of rural China. I started with Chinese history and history of science."

OpenAI's research director Dario Amodei told Hern that the models used to make GPT2 were enormous, and it was trained by reading through roughly 10 million articles, which were selected by crawling through Reddit. If an article had more than three upvotes, it was selected.

While GPT2 is potentially groundbreaking, OpenAI is not ready to share it with the world just yet. Its head of policy told the Guardian that GPT2 needs to be tinkered with for a while to find out whether it could be used for mischief.

"If you can't anticipate all the abilities of a model, you have to prod it to see what it can do. There are many more people than us who are better at thinking what it can do maliciously," he said.

As an example, OpenAI showed how the system could be used to generate limitless bad or good reviews. The internet is already awash with spam, and product reviews are often gamed — whether by people promoting their own products or rivals seeking to sabotage them.

Read more: Facebook employees were caught writing 5-star reviews for its Portal device on Amazon, and now they must take them down

OpenAI told the Guardian that the goal was to show people technology what could become commonplace in a year or two.

Original author: Isobel Asher Hamilton

Continue reading
  127 Hits
Dec
19

468th Roundtable For Entrepreneurs Starting In 30 Minutes: Live Tweeting By @1Mby1M - Sramana Mitra

ChargedUp, a U.K. startup that offers a mobile charging network that takes inspiration from bike sharing, has closed £1.2 million in seed investment. Leading the round is Sir John Hegarty’s fund The Garage, and the ex-Innocent Smoothie founders fund JamJar. The funding will be used to grow the offering across the U.K. and for international expansion.

Founded by Hugo Tilmouth, Charlie Baron, Hakeem Buge and Forrest Skerman Stevenson, ChargedUp has set out to solve the dead mobile phone battery problem with a charging network. However, rather than offer fixed charging points, the team has developed a solution that lets you rent a mobile charging pack from one destination and return it at a different location if needed. That way, mobile phone use remains mobile.

“It’s annoying and inconvenient to be out and about with a dying phone battery,” says CEO Hugo Tilmouth. We’ve all been there and I was inspired to do something about it through my own experiences. I was at a cricket match at London’s Lord’s Cricket Ground and waiting for a call for a last round interview with a large tech firm, and was running very low on charge! I ended up having to leave the cricket ground, buy a power bank and then rode a Boris Bike home and the light bulb went off in my head! Why not combine the flexibility of the sharing economy with the need of a ‘ChargedUp’ phone!”

The solution was to create multiple distribution points across a city, located in the venues where people spend most of their time. This includes cafes, bars and restaurants. “Our solution uses an app to enable users to find the nearest stations, unlock a sharable power bank and then return it to any station in the network and only pay for the time they use. Our goal is to be never five minutes from a charge,” adds Tilmouth.

In the next six months, ChargedUp says it will expand its network of over 250 vending stations in London’s bars, cafes and restaurants across to other large metropolitan areas in the U.K. Last month, the young startup partnered with Marks & Spencer to trial the platform in its central London stores. If the trial is successful, ChargedUp says it could lead to providing its phone-charging solution to all M&S customers by the end of 2019.

“Since launch we have delivered over 1 million minutes of charge across the network, and our customers love the service,” says Tilmouth. “Like the sharing scooter and bike companies, we operate a time-based model. We simply charge our users a simple price of 50p per 30 mins to charge their phones. We also make revenue from the advertising space both on our batteries and within our app.”

With regards to competition, Tilmouth says ChargedUp’s most direct competitor is the charging lockers found in some public spaces, such as ChargeBox. “We do not see this as a viable alternative to ChargedUp as users are forced to lock their phones away preventing them from using them while it charges. They are also prone to theft and damage. We are also differentiated by our use of green energy offsetting throughout the network,” he says.

Meanwhile, in a statement, investor Sir John Hegarty talks up the revenue opportunities beyond rentals, which includes advertising, rewards and loyalty. “At its simplest, ChargedUp addresses a massive need in the market, mobile devices running out of power. But more than that, ChargedUp provides advertisers with a powerful medium that connects directly with their audience at point of purchase,” he says.

Prior to today’s seed round, ChargedUp received investment from Telefonica via the Wayra accelerator and Brent Hoberman’s Founders Factory.

Continue reading
  51 Hits
Nov
30

Quinyx lands $50M to help companies find gig workers

Amazon canceled its move to New York. Getty/Andrew Lichtenstein

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

Amazon cancelled its plans to move its new HQ2 headquarters to New York. The company said it would not reopen its search for HQ2 but would proceed as planned in Virginia and Nashville, Tennessee. Politicians and tech execs reacted to the surprise news of Amazon pulling HQ2 from New York City. The decision to bring HQ2 to New York was met with fierce backlash from many politicians, local residents, and tech leaders who took aim at HQ2's effect on housing prices, the major tax breaks New York was giving Amazon, and the company's treatment of workers. Bernie Sanders congratulated New York for "standing up" to Amazon. Sanders, who was born and raised in Brooklyn, New York, has been a consistent and vocal critic of Amazon's treatment of its workers. Alexandria Ocasio-Cortez and New York activists also celebrated Amazon's decision to cancel HQ2 in Long Island City. Ocasio-Cortez called the retreat a win for "everyday New Yorkers" in the fight against "corporate greed... worker exploitation, and the power of the richest man in the world," referring to Amazon CEO Jeff Bezos. Facebook is reportedly considering paying a record multi-billion dollar fine to settle the FTC's investigation into its privacy practices. The FTC has been investigating whether the leak of data on Facebook users to Cambridge Analytica violated a previous agreement between the agency and the social-network. Former Uber CEO Travis Kalanick is quietly building a new kind of food-delivery service. CloudKitchens, one of the units of Kalanick's company City Storage Systems, has hired dozens of people including former Uber employees. Anti-vaccination ads on Facebook are targeting pregnant women, while a measles outbreak spreads across the country. The Daily Beast reports there are more than 150 ad spots on Facebook that target women over the age of 25, those the most likely to have children at an age when vaccination decisions are made. Nintendo detailed their heavy-hitting lineup of Switch games coming in 2019. The company showed off more than two-dozen upcoming Switch games during a 36-minute "Nintendo Direct" presentation. The new $1.37 billion border-security deal might save SpaceX's launch site in Texas, where Elon Musk hopes to launch Mars rockets. Department of Homeland Security maps reportedly showed a proposed physical barrier running directly through SpaceX's site. Google invested in a startup with tech that uses the voices of NFL players to answer questions on Google Home devices. The sports technology startup StatMuse received a strategic investment from the Google Assistant Investment program to help further its vision.

Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.

Original author: Isobel Asher Hamilton

Continue reading
  59 Hits
Aug
29

NTT unveils what it calls the ‘first edge and private 5G’ service

AT&T is in the midst of an ambitious project called Airship, which could have sweeping implications for the $350 billion telecom equipment industry.

Late last week, AT&T signed an "8-figure," three-year deal with a company called Mirantis. According to Mirantis, the company will help AT&T build out and manage the infrastructure it needs for its 5G network.

Airship means that if you want to build a cloud, specialized hardware and software from vendors like VMware, Cisco, Juniper and Huawei are unnecessary, Mirantis cofounder and CMO Boris Renski tells us.

AT&T's Airship, which is open source software, will run in the telecom's giant's own data centers, running the software needed for core 5G functions like routing phone calls, or streaming and processing video, says Renski.

And a lot of telco companies are watching to see how it turns out.

"AT&T is the biggest, baddest, oldest telco out there," says Renski. "For this refresh cycle, for the first time in telco history, they are choosing to not buy new [proprietary] boxes but, instead, use tech open sourced by Google to refresh their network for their 5G cycle. This will set the precedent in the industry."

AT&T hopes that precedent extends far beyond telecommunications, Amy Wheelus, VP of Network Cloud & Infrastructure told Business Insider in an emailed statement.

There's been "a lot of interest in Airship ... and not just from telcos," she said. AT&T expects other industries to use Airship for their own giant data center projects, too, from manufacturers to health care companies.

VMware is out

Airship is championed by AT&T, but the company doesn't actually own or maintain it. It is run by the OpenStack Foundation, an industry group that's also the keeper of several open source projects. AT&T is a member of the OpenStack Foundation, as are IBM and Comcast, among others.

Airship was launched last spring, spearheaded by AT&T, Intel and SK Telecom. But interest has been so high that Wheelus says it's "on track" to "graduate" by next spring, meaning it will leave the OpenStack Foundation and come under the control of its own organization.

VMware CEO Pat Gelsinger Yuya Shino/Reuters Airship is stitching together several open source software technologies to make it easier for companies build, run and scale giant cloud computing projects, at the size of companies like AT&T.

Mirantis, AT&T and those involved with Airship will be making OpenStack, a data center operating system, work with another hugely popular, open source cloud technology called Kubernetes.

Kubernetes (sometimes known as "K8S") is a software container management system. Software containers are a hugely popular technology for cloud apps that ensure the app works well no matter which cloud it lives on — whether it's Amazon Web Services, Microsoft Azure, or anybody else's. An increasing number of programmers use Kubernetes to manage all of their containers.

AT&T looked at offerings from VMware for this project and nixed the idea, AT&T's Ryan Van Wyk, a cloud engineer executive, told Mitch Wagner of telecom news site Light Reading.

"There really isn't much of an alternative," Van Wyk told Light Reading. "Your alternative is VMware. We've done the assessments, and VMware doesn't check boxes we need."

Containers in general, and Kubernetes in particular, are generally considered an alternative to VMware's flagship technology, known as virtualization. In recognition of the shifting tide, VMware in late 2018 bought a startup called Heptio. Heptio was founded by two of the three folks who created Kubernetes during their time at Google. This means that VMware also offers its own commercial Kubernetes product.

But because Google has made Kubernetes a a free and open source software project, Airship doesn't need to buy a commercial Kubernetes product or service. It can make Kubernetes work with OpenStack, another open source project, without paying software license fees to anyone. That removes a major barrier to entry.

There are other losers

Because AT&T is using open source software as it upgrades its infrastructure to handle 5G, Airship will be able to run on lower-cost, commercially-available off-the-shelf hardware, known in industry speak as COTS.

Huawei Technologies CEO Ren ZhengfeiDmitry LovetskySo where AT&T might typically spend big on new hardware to manage this change, it can save a ton by using more readily-available, cheaper products. That bodes poorly for the legacy data center hardware providers.

"Historically these [upgrade] cycles are an opportunity for the likes of Huawei, Cisco, Juniper etc. to sign big contracts and sell their big pre-integrated hardware boxes," Mirantis's Renski says.

And this isn't the only high-profile attempt in the teleco industry to move toward less expensive hardware on free, open source software.

SK Telecom has also been involved in the Telecom Infra Project, originally spearheaded by Facebook, which is also creating open source telecom software and hardware. AT&T isn't a member of TIP, although it is involved in the other Facebook-spawned hardware organization — the Open Compute Project, which is creating open source hardware for data centers.

And Wheelus tells us that that AT&T has embraced open source projects and has no plans to go back.

Open source, which allows all of the software's users to build what they want and need together, helps AT&T "move away from the proprietary solutions that existed previously from specific vendors," she said. "This allows us to keep costs low and move fast adopting cutting edge capabilities very quickly. Overall AT&T has committed over 10 million lines of code to open source communities - and no signs of slowing down."

Google could be the big winner

So, if the traditional vendors are the being put on notice by upstart open source telecom projects like Airship and TIP, who is rubbing their hands in glee?

The answer: Google, at least when it comes to Airship.

"The biggest winner is Google because they are the fathers of Kubernetes," says Renski.

Amy Wheelus, AT&T VP of Network Cloud & InfrastructureYouTube/TelecomTVKubernetes was first developed by Google to be used internally on Google's own massive data centers and apps. Google has since released it as open source, making it freely available to anyone. It's since become so popular, all the major clouds have been forced to support it.

But because it was created by Google, Google's cloud is still considered the best for Kubernetes-dependent apps. In fact, Google engineers are still the ones that contribute the most code to Kubernetes, according to tracking site Stackalytics.

To be sure, Google and its cloud are not directly involved in AT&T's 5G project. AT&Ts use of Airship will run in AT&T's own data centers, not on any cloud.

But as startups and existing vendors race to create 5G apps for telecom providers and users alike, they will host them in the cloud, more likely as not. And because Kubernetes is still a keystone accomplishment for Google, they could be more likely to turn to Google Cloud, over competitors like Amazon Web Services and Microsoft Azure.

The telecos are also the big winners, who believe they'll be building the tech they need to make 5G a reality, while reducing costs.

"It has the potential to greatly change the way we think about deploying and managing software in the future," AT&T's Wheelus said.

Original author: Julie Bort

Continue reading
  42 Hits
Feb
15

Bootstrapping from Denmark: Camilla Ley Valentin, Co-Founder of Queue-It (Part 1) - Sramana Mitra

Camille tells a wonderful story of capital-efficient entrepreneurship, including scaling a company born in Denmark that now has 40% of its business in the US. Sramana Mitra: Let’s start at the very...

___

Original author: Sheldon Chi

Continue reading
  16 Hits
Feb
15

Netflix's Los Angeles office went into lockdown after person connected with the company said he had a gun (NFLX)

Netflix's office building in Los Angeles and a nearby local television station went into lockdown Thursday afternoon after a person connected Netflix said he had a gun.

Some Netflix employees were reportedly evacuated from their building, while some employees of television station KTLA were reportedly told to "move to interior spaces." The Los Angeles police later arrested the person who started the incident and found "no indication" he actually had a weapon, Tony Im, a public information officer for the police department, said.

Netflix's office building and KTLA's studios are both on the lot of Sunset Bronson Studios in Hollywood.

The incident started when a former Netflix employee called a current one and said he had a gun, the Los Angeles Times reported. LAPD received a call about the alleged armed person at 3:53 p.m., Im said. Police took the person into custody off-site, he said.

Im said the person was connected with Netflix, but didn't know if he was a current or former employee. Im declined to release the suspect's name.

Netflix has received an "all clear" from police, company spokeswoman Sarah Jones said late Thursday.

"There was never an individual with a firearm on the property," she said.

Jones declined to confirm any connection between the person who started the incident and the company.

Original author: Bryan Logan and Troy Wolverton

Continue reading
  38 Hits
Feb
15

Marc Benioff says that before Salesforce buys a startup, he does 'due diligence' on a company's culture and how it pays employees (CRM)

Just five years ago, Salesforce CEO Marc Benioff says that when it comes to acquisitions, it was the technology and product that mattered most.

Now, he says, he's made a complete turnaround: The billionaire tech exec says that when Salesforce wants to buy a company, he first does his "due diligence" in looking at the company's culture, how fairly and equitably it pays employees, and its ratings on popular employer review site Glassdoor.

Said Benioff onstage Thursday at the Goldman Sachs Technology and Internet Conference:

"We bought 50 companies in the last decade or more. We now have to look at pay scales with due diligence ... Five years ago, I didn't look at pay scales, at culture, at Glassdoor ratings. When you buy a company, you don't just buy the technology. You buy the culture."

Benioff says that in this day and age, company culture is "more important than ever," and Salesforce is doubling down. He believes that culture, equal pay for women, and how a company handles sexual harassment are all related, and says that employees expect CEOs to have clear positions in those areas.

Seeing Google employees walk out to protest the company's handling of sexual misconduct cases last November was "eye-opening for a lot of people," Benioff said. He added that Silicon Valley has already seen several executives get taken down for committing sexual harassment, or for not doing enough to fight it.

"We have CEOs who are not paying attention to their culture and allowed toxic cultures to emerge," Benioff said.

Salesforce has spent $8.7 million on pay raises for women after a group of Salesforce employees, including Chief People Officer Cindy Robbins and executive vice president Leyla Seka, investigated the wage gap at the company. Benioff has also previously spoken about how he had to fire an executive for crossing a line in sexual harassment.

Read more:Salesforce has spent $6 million on pay raises for women — and fired an executive

"You can't just be a domain expert in financial services, software, AI," Benioff said. "You've got to know your stuff when it comes to handling your culture at your company."

Original author: Rosalie Chan

Continue reading
  41 Hits