Nov
29

Mic was a poster child for publishers depending on Facebook. But its demise has broader lessons for the media industry.

Millennial startup Mic sold itself to Bustle Digital Group for a reported $5 million, a fraction of the $60 million it raised, after financial problems including the impact of Facebook canceling a video show.

But the Mic situation reveals broader challenges with the Facebook-funded shows, and the ongoing relationships between publishers and the social-media giant.

Mic was one of eight publishers, along with the likes of CNN, ABC News, and Fox News, that Facebook picked to produce its first slate of news shows for its YouTube rival Facebook Watch. Facebook was reportedly spending $90 million to signal it was taking news seriously after coming under fire for letting fake news spread on the platform. The first shows were announced in June and rolled out during the summer.

Later in the summer, Facebook announced a second batch of funded news shows, from the likes of Bloomberg, BuzzFeed News, Business Insider, and PBS NewsHour.

At the time, Facebook said, "'Mic Dispatch' reveals the world as we see it: complicated, diverse and full of potential. Mic correspondents on this new, twice-weekly show go beyond the headlines to profile the underrepresented, the problem-solvers and the provocateurs."

Read more: Mic says it's doing just fine, despite digital Armageddon

'Mic Dispatch' was inconsistent in its audience

The funding amounts varied. Mic reportedly was going to be paid $5 million over a year. But "Mic Dispatch," airing two episodes a week lasting around 15 minutes long each, was inconsistent in its audience. Early on, three episodes cracked the 1 million views mark. Recent episodes have routinely had under 100,000 views. The show itself had about 85,000 followers.

In contrast, daily shows such as Fox News' "Fox News Update," CNN's "Anderson Cooper Full Circle," and ABC News' "On Location" have hundreds of thousands of followers each and have regularly been getting a few hundred thousand views per episode. Business Insider's show Business Insider Today has around 290,000 followers.

Those shows air daily, which could give them an advantage because they have that much more opportunity to be seen and gain an audience. The companies also have big platforms of their own on which to promote their shows, something Mic doesn't have.

But a big question from the get-go with the news shows was how big of an audience they would be able to get, given the video section Watch, Facebook's bid for TV ad dollars, was only about a year old and didn't have an intentional audience. Most people only ended up watching Watch shows because they were promoted in their feeds.

Some publishers put aside those concerns since they were getting paid by Facebook to make the shows, limiting their risk. But a common complaint among Watch publishers is that, except for some promotion early on, Facebook did little to get attention for the shows. "They could put it in front of a billion people if they chose," one source said.

In addition to organic view counts, which Facebook counts at three seconds, Facebook also looks at nonpublic numbers such as view time and return visits in deciding whether to renew the shows, sources said.

Facebook didn't set performance requirements for publishers, making it hard for them to gauge if their shows were satisfactory to the platform, and it reserved the right to cancel shows at various points during the contract period, publishing sources said. "We're given no metric they're trying to hit," one source said.

Mic was a poster child for publishers relying on Facebook

Mic has emerged as a poster child for publishers' overly relying on Facebook for traffic, only to see their audiences tumble when Facebook changes its priorities. Many publishers saw their Facebook traffic drop in January when Facebook decreased the amount of news content that users see in their news feeds.

Mic continued to rely on Facebook for its social following, despite efforts to pivot. In the case of the Watch show, Mic retooled its newsroom around it, with 25 people working on it. The show was owned by Facebook, so Mic couldn't make additional money off the show by licensing it somewhere else.

Mic execs didn't respond to a request for comment.

Ultimately, even though Facebook is paying publishers for Watch, the experiment shows the risks of relying on a platform whose strategy is constantly evolving. The news shows are an initiative of Campbell Brown, Facebook's head of news partnerships, and are a small part of the larger Watch section, which has been favoring entertainment shows tied to celebrities with built-in audiences. Adding to the uncertainty, Brown repeatedly used the words "test" and "experiment" when describing the news shows.

"It's a classic example of disorganization there," one Watch publisher said. "I just don't think any of them will be renewed."

Original author: Lucia Moses

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Mar
27

Leaked emails show Amazon is moving full steam ahead with this year's Prime Day shopping extravaganza, even as it grapples with the coronavirus pandemic (AMZN)

This holiday season could be a happy one for the big players in the digital advertising business.

Google and Amazon are seeing a notable uptick in ad sales, Colin Sebastian, a financial analyst with Baird Equity Research, said in a new report, citing data from Merkle, a marketing firm that tracks the digital advertising industry. Meanwhile, all indications are that advertisers are continuing to support and spend their money on Facebook, despite the string of scandals and fiascos the company has endured this year.

"Spending growth remains generally steady/healthy across the leading platforms," Sebastian said in the report.

So far this quarter, ad spending on Google is growing at a 19% annual clip, according to the Merkle data cited by Sebastian. That's up from the 18% growth rate the company saw in the third quarter.

While advertisers continue to invest in Google, they are shifting some of their dollars, Sebastian said. In particular, their moving some of their budgets from text-based search ads to Google Shopping, the company's comparison shopping service that allows marketers to tout their products with photographs and to link to places to buy them. Thus far this quarter, ad spending on Google Shopping is up 40% year-over-year, according to the Merkle data.

Google's "shopping ads [are] still cannibalizing other formats," Sebastian said.

Ad spending on Amazon is up 150% from early November, according to Merkle. That rise is in-line with the surge seen at more established digital ad companies, Sebastian noted. That's yet another sign that the e-commerce giant is becoming a significant player in the industry.

Facebook CEO Mark Zuckerberg. Advertisers seem to be sticking with the company this holiday, despite its string of scandals. Getty At least so far, Amazon doesn't appear to be stealing ad spending away from Google, according to the report. Instead, marketers are redirecting money they would have traditionally spent on offline advertising to the e-commerce site, Sebastian said, citing Merkle.

Amazon's "ad growth appears largely incremental," he said. The e-commerce giant is "not taking share from Google search, despite headlines and concerns to the contrary," he continued.

As for Facebook, ad spending appears steady, according to the report. The company has been hit with multiple privacy and security scandals this year, including the leak of data on millions of users to Cambridge Analytica. But advertisers don't seem to be moving their budgets from it to other outlets, Sebastian said, citing Merkle.

Read this:Sheryl Sandberg is on the hot seat at Facebook — but ousting her alone wouldn't solve its problems

While Facebook's advertising revenue growth has been slowing, that's largely due to the way the company is changing its main service and shifting the emphasis to its Story format from the News Feed, Sebastian said.

"There is no evidence of a backlash related to recent Facebook privacy concerns," he said, paraphrasing Merkle's analysis.

Original author: Troy Wolverton

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Jul
02

Tesla's head of engineering is officially leaving the company as Elon Musk celebrates Model 3 production milestone (TSLA)

Tesla owners will be able to summon their vehicles with their phones "from across the continent" in a few years, CEO Elon Musk said on Wednesday via Twitter.

"You can summon your Tesla from your phone. Only short distances today, but in a few years summon will work from across the continent," he said.

Tesla did not immediately respond to a request for comment on whether any restrictions will be placed on long-distance use of the summon feature.

The summon feature allows Tesla owners to move their vehicles forward or backward over short distances.

Read more: I tried Tesla's new Autopilot feature that helps navigate during highway driving to see if it's helpful — here's the verdict

Musk has said Tesla owners will be able to control an increasing number of driving functions with their phones. In early November, he said an upcoming software update would allow Tesla owners to drive their cars with their phones in some situations.

"Car will drive to your phone location & follow you like a pet if you hold down summon button on Tesla app," Musk said.

"Also, you'll be able to drive it from your phone remotely like a big RC car if in line of sight," he added.

Musk said the update to Tesla's AutoPark feature, which allows vehicles to park with limited driver assistance, would arrive in about six weeks. The update will also give Tesla vehicles the ability to find and choose parking spots without driver assistance, Musk said. Currently, the feature identifies possible parking spots for drivers to choose and then moves the vehicle into the chosen spot.

The forthcoming updates follow the introduction in October of a new Autopilot feature, called Navigate on Autopilot, that can recommend lane changes, navigate transitions between highways, and take exits, with driver supervision. Autopilot can also keep a car in its lane and adjust its speed based on surrounding traffic, among other features.

In early October, Consumer Reports released its rankings of four semiautonomous driver-assistance systems. The publication ranked Autopilot second, behind Cadillac's Super Cruise. Autopilot received the highest rating for capability and performance and ease of use but received the lowest rating for keeping drivers engaged.

Have a Tesla news tip? Contact this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it..

Original author: Mark Matousek

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Nov
29

Laura Loomer, a far-right activist who tweeted anti-Muslim remarks about Minnesota Rep.-elect Ilhan Omar, handcuffed herself to Twitter's HQ after the company kicked her off the platform

In response to getting kicked off Twitter, far-right conservative Laura Loomer chained herself to the platform's Manhattan headquarters Thursday night.

Livestream video posted to Periscope on Thursday night captured Laura Loomer, who had handcuffed to the glass doors leading into Twitter's Manhattan headquarters. It didn't take long before a crowd and police gathered, and the street was closed off.

At its peak, the Periscope live stream had almost 10,000 viewers.

Read more:Uber and Lyft bar far-right activist who complained about Muslim Uber drivers

"It's almost as if Twitter hates Jews and conservatives," Loomer said during her protest. "When is Jack Dorsey going to stop censoring conservatives? When am I going to get my Twitter back? I'll be here as long as it takes."

Loomer ended her stand shortly after 6 p.m., when she asked police to cut off her handcuffs after a little more than two hours of protest.

Twitter permanently banned Loomer from the platform in November after a tweet she sent about Minnesota Rep.-elect Ilhan Omar. In a post on her website, Loomer published a screenshot of the message Twitter sent her, saying she had violated the platform's rules on "hateful conduct."

Loomer tweeted that Omar, one of first two Muslim women elected to Congress, was "anti-Jewish" and that her religion pushed homophobia and abuse of women.

Laura Loomer

Facebook followed suit, but has only issued a temporary 30-day ban.

This isn't the first time Loomer has tried to capture the attention of Twitter CEO Jack Dorsey. When Dorsey testified in front of Congress in September, she interrupted the hearing to call the CEO a "liar."

"We have notified the relevant authorities who are responding," Twitter said in a statement to Business Insider. "The account holder was suspended for violating our policies. We apply the Twitter Rules impartially and not based on ideology."

Loomer's behavior has also led to similar bans in the past. In late 2017, Uber and Lyft both kicked her off their ride-hailing platforms for a series of tweets Loomer posted about Muslim drivers for the platforms.

"I'm late to the NYPD press conference because I couldn't find a non Muslim cab or @Uber @lyft driver for over 30 min! This is insanity," Loomer wrote.

Read more: Uber and Lyft bar far-right activist who complained about Muslim Uber drivers

Loomer has also accused Twitter of holding up a "double standard" that allows anyone on the platform who is liberal or Muslim to do "whatever they want." During her protest, Loomer wore a Jewish star reminiscent of the Holocaust as a symbol of what she says is rampant anti-Semitism on Twitter.

Police informed Loomer that Twitter says it won't press charges against her for chaining herself to its headquarters., and that she's allowed to stay chained to the door as long as she wants. According to the New York Civil Liberties Union, protesters cannot block the entrance into a building under New York City law.

Loomer said she didn't have a key to unlock her handcuffs and the chains would need to be cut off. Police officers offered early on to cut the chain off for her if she wanted.

"I wish I could give you an answer, but Facebook and Twitter won't let me speak," Loomer said on the livestream.

Original author: Paige Leskin

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Nov
29

The makers of 'Fallout 76' have been caught in a cyclone of scandals since the game's release — here's why fans are outraged

Bethesda Studios has frequently been the target of critics and punchlines for releasing their games with a bevy of unintentional glitches and bugs over the years, but the studio's newest game, "Fallout 76," may not be able to recover from its controversial launch.

Disgruntled fans are demanding refunds, and Bethesda's handling of the backlash has led at least one law firm to consider a class-action lawsuit.

While Bethesda's "Fallout" is widely respected as one of the best first-person-shooter series, the shift to a massively multiplayer format for "Fallout 76" brought a wave of skepticism from fans. The game's early reception was warm at best, competing against major releases like "Call of Duty: Black Ops 4" and "Red Dead Redemption 2."

But even those who decided to give "Fallout 76" a try have struggled with limited gameplay and game-breaking glitches, leading waves of players to demand a full refund from Bethesda.

Bethesda's refund policy states that players cannot receive a refund after downloading the game, but some players reported that their refunds were granted after contacting the support team.

Read more: A dedicated group of 'Fallout 76' players crashed the game's server with a trio of nuclear explosions

Players who successfully lobbied for a refund posted on Reddit, sparking a series of requests for refunds from r/Fallout users. Bethesda ultimately reverted to its no-refund policy, but the inconsistency has left players even more irate with the company's business practices.

In a separate situation, players who ordered the $200 "Fallout 76 Power Armor Edition" reported that the bundle did not ship as advertised.

While the special-edition package was supposed to contain a West Tek canvas bag, Bethesda substituted it for a cheaper nylon bag. A customer who made an inquiry to a support employee was told that the company decided to change the bag because of a lack of supplies, and Bethesda had no plans to address the issue.

The unhelpful response led to another wave of complaints, prompting Bethesda to issue a follow-up statement and offer those who purchased the special edition an additional $5 worth of in-game currency.

Now a Washington, D.C., law firm, Migliaccio and Rathod LLP, has announced that they plan to investigate Bethesda's refund policy and the "Power Armor Edition" advertisements to determine if it's worth filing a class-action lawsuit claiming deceptive trade practices. In preparation for a potential class-action lawsuit, the firm is asking dissatisfied players to submit a confidential questionnaire if they attempted to get a refund or received the nylon bag with the "Power Armor Edition."

The outlook for "Fallout 76" is already looking grim two weeks after its release, but Bethesda will have to work to make sure that future games aren't impacted by the negative feedback. The company has already detailed improvements coming to "Fallout 76" next month and promised greater transparency moving forward.

Original author: Kevin Webb

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Jun
14

Ex-Tesla employees reveal the cryptic ways they learned they were getting fired (TSLA)

Floyd Mayweather Jr. and DJ Khaled were two of the most well-known celebrities to jump on the cryptocurrency bandwagon last year.

Now their promotion of particular initial coin offerings has gotten them in trouble.

Mayweather, a former boxing champion, and Khaled, a record producer, will each pay more than $100,000 in fines to settle charges that they illegally promoted an initial coin offering without disclosing that they were paid for it, the Securities and Exchange Commission announced Thursday. They also both agreed to forgo promoting any other ICOs or stocks for multiple years, the SEC said.

"These cases highlight the importance of full disclosure to investors," Stephanie Avakian, co-director of the SEC's enforcement division, said in a statement. "With no disclosure about the payments, Mayweather and Khaled's ICO promotions may have appeared to be unbiased, rather than paid endorsements."

Neither Mayweather nor Khaled admitted to or denied the charges.

Mayweather and Khaled were both paid by Centra Tech to to tout its controversial ICO last year, according to the SEC. Centra Tech paid Mayweather $100,000 and Khaled $50,000, the agency said. Both then promoted the ICO on their social media accounts to their followers, but neither disclosed that they were being paid to tout it, the SEC said.

Centra was supposed to be developing a debit card for cryptocurrencies. But federal law enforcement officials say it was really a fraudulent scheme, and have filed civil and criminal charges against its founders.

Read this: The SEC charges a third Centra cryptocurrency 'mastermind' with fraud over its $32 million ICO

Mayweather also was paid $200,000 to tout two other ICOs and failed to disclose the payments, according to the SEC.

As part of his settlement, Mayweather will hand over to the SEC the $300,000 he was paid to promote the three ICOs, pay a $300,000 fine, and pay $14,775 in interest, according to the agency. Khaled agreed to hand over the $50,000 he was paid by Centra and pay both a $100,000 fine and $2,725 in interest.

Mayweather will be barred from touting ICOs or other securities for three years; Khaled for two. Additionally, Mayweather will cooperate with the SEC's investigation of Centra, the agency said.

Original author: Troy Wolverton

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Jun
29

The creators of ‘Fortnite’ have pulled a mode that players were super excited for, with no sign of when it's coming back

The last time a NASA spacecraft safely landed on the moon was in December 1972. Nearly half a century after Apollo 17, though, the space agency is itching to return.

NASA announced on Thursday that it's offering up to $2.6 billion in contracts to nine American companies to get the agency back to the lunar surface.

NASA isn't going to buy the company's lunar landers outright, nor will it take responsibility for launching, landing, or controlling the robots. Instead, NASA wants the private sector to deal with those challenges and bid on the opportunity to take NASA's experiments to the moon.

"We're doing something that's never been done before," Jim Bridenstine, NASA's administrator, said during a live broadcast on Thursday. "When we go to the moon, we want to be one customer of many customers in a robust marketplace between the Earth and the moon."

Read more: Astronauts explain why nobody has visited the moon in more than 45 years — and the reasons are depressing

Bridenstine added that the goal is take advantage of emerging international demand — both commercial and from other nations' space agencies — to land on and exploit the moon's resources.

He views the $2.6 billion in potential contracts (it's unlikely all of this money would be spent) as a way to spur companies to "compete on cost and innovation so that we, as NASA, can do more than we've ever been able to do before."

A lunar exploration program led by science

A map of "cold traps" inside lunar craters at the moon's north pole (left) and south pole (right). Green and teal dots show locations where water ice may be present at or near the surface.PNAS

The effort is a new phase of NASA's Commercial Lunar Payload Services program (CLPS), which aims to encourage commercial moon missions. Bridenstine said NASA's scientific division will decide how the money is spent, not its human exploration division.

"The moon is full of secrets that we don't know yet," Thomas Zurbuchen, NASA's associate administrator for science, said during today's briefing.

Zurbuchen explained that the agency will create a catalog of payloads for the companies to bid on taking to the moon. The first round of proposals are due in January, NASA said in a release. The first missions could fly to the moon as soon as 2019, though possibly as late as 2022.

An illustration of a Lunar Orbital Platform-Gateway concept for NASA by Boeing. Boeing

In addition to enabling science experiments that might refine what we know about the age of the solar system and universe, CLPS could also be a stepping stone toward human space exploration.

If successful, the program could pinpoint places to explore with NASA's "Lunar Orbital Platform-Gateway": a human space station to be built in the vicinity of the moon some time in the 2020s.

"On the moon there is water. On the moon, there are precious resources," Zurbuchen said. "We want to learn how to use these resources because — guess what? — we want to go back with humans and actually use those resources for us to bring back to Earth or to fuel, to breathe, to drink."

Read more: The moon has ice on its surface in hundreds of places — and it could be the 'first step in building a space economy'

Water can be turned into hydrogen and oxygen, which can then be used as rocket fuel to power ambitious deep-space exploration (including that of Mars). So later on, NASA may use this competition to solicit much larger landers that could take people to and from the lunar surface in the late 2020s.

"Ultimately we're going to take it all the way to Mars from the moon," Bridenstine said. "We want to take advantage of the water ice that we believe is available in the hundreds of billions of tons on the surface of the moon."

The 9 companies invited to compete for NASA's billions

An illustration of Astrobotic Technology's Peregrine moon lander.Astrobotic Technology

In alphabetical order, these are the nine companies that NASA thinks are up to the task of getting its experiments to the moon (and maybe back):

Astrobotic Technology (based in Pittsburgh) Deep Space Systems (based in Littleton, Colorado) Draper (based in Cambridge, Massachusetts) Firefly Aerospace, Inc. (based in Cedar Park, Texas) Intuitive Machines, LLC (based in Houston) Lockheed Martin Space (based in Littleton, Colorado) Masten Space Systems, Inc. (based in Mojave, California) Moon Express (based in Cape Canaveral, Florida) OrbitBeyond (based in Edison, New Jersey)

NASA said this list may expand, and these companies will not be alone in their commercial efforts.

Thom Baur/Reuters

Many of the nine companies use subcontractors to build landing and avionics systems, and all of them will require private rocket rides to the moon, since NASA's Space Launch System won't be ready to fly for years.

SpaceX, the aerospace company founded by Elon Musk, has a new Falcon Heavy rocket that's powerful enough to send a large spacecraft or multiple small landers to the moon for perhaps less than $100 million.

There's also Blue Origin, founded by Jeff Bezos. In October, Blue Origin said it's "in the conceptual design phase" of building a large lunar lander called "Blue Moon." The company is also creating a reusable rocket system called New Glenn, which may take flight in 2020.

An illustration of Blue Origin's reusable New Glenn rocket launching toward space.Blue Origin

The Peregrine lander

One of the nine companies NASA named, Astrobotic, formed in 2007 during the Google Lunar X Prize. That $20 million competition was intended to spur private exploration of the moon, but the contest shuttered in 2018 without a winner. However, Astrobotic continued developing a small lunar lander called Peregrine. (Prior to NASA's announcement, Business Insider independently confirmed that Astrobotic would be one of the commercial partners.)

In March, Astrobotic was reportedly working with aerospace company United Launch Alliance (ULA) to find room on a rocket that could fly Peregrine to the moon sometime in 2020. Space News reported in May that Astrobotic was preparing to bring 12 payloads to the lunar surface.

Then in August, Astrobotic received $10 million from NASA to create a "low-cost, reliable, high-performance, stand-alone" system to land a commercial lunar spacecraft on the moon. The funding was part of $44 million in awards that NASA gave to companies developing "tipping point" technologies for space exploration.

Unlike previous efforts by NASA to get back to the lunar surface — all of which sputtered out — Bridenstine said the CLPS program will succeed.

"This is not going to be 'Lucy and the Football' again," he said, referring to the famous "Peanuts" comic (in which Charlie Brown never gets to kick a football).

"Everybody is ready to go back to the moon," Bridenstine added.

Original author: Dave Mosher

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Nov
29

Elon Musk says Tesla will bring more video games and other Easter eggs to its cars — but one obvious choice won't be included (TSLA)

Tesla vehicles will receive new video games and other Easter eggs before the end of this year, CEO Elon Musk said on Thursday via Twitter.

"Super fun software Easter eggs coming to all Tesla S/3/X cars before the holidays! Romance mode, toilet humor & more video games," he said.

Tesla declined a request for comment on what "romance mode" and "toilet humor" referred to or what additional games it will include in its vehicles.

Read more: Tesla's cars are full of hidden Easter eggs — here the coolest ones

When a Twitter user asked Musk if a version of the Nintendo racing game "Mario Kart" would be included in Tesla vehicles, Musk said Nintendo didn't give Tesla permission to license the game.

"We tried. Nintendo won't license it to us," Musk said of Tesla's effort to include the game in its vehicles.

In October, Tesla said it included classic Atari video games as hidden Easter eggs in its latest software update, but didn't specify which games were available. Musk said in August that he had hoped to include "Pole Position," "Tempest," and "Missile Command" in the software update.

Four games were available as of early October, according to a video from the YouTube channel, "What's Inside? Family," three of which Musk had not mentioned in his August tweet.

These are the games that were available in Tesla vehicles as of October, as well as the ones Musk has said he wants to include.

Original author: Mark Matousek

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Nov
29

Facebook co-founder and Asana CEO Dustin Moskovitz seems to be glad he's not involved in the social networking business anymore (FB)

Dustin Moskovitz, one of four Facebook co-founders and roommate to Mark Zuckerberg at Harvard, seems to be glad he's out of the social networking game.

In an interview with Business Insider on Wednesday, Moskovitz described the upsides of working in enterprise tech, rather than consumer tech. Moskovitz has been the CEO of Asana — a cloud-based software service that lets workers collaborate on projects and assign tasks — since leaving Facebook in 2008.

"I do think it's nice to have a straightforward business model where you create something valuable for companies and they pay you for it," Moskovitz told us. "There's a lot fewer rough edges, I guess, since we're not a content platform. We're really providing infrastructure."

Those "rough edges" have become increasingly rough for Facebook and his former roommate this year with the Cambridge Analytica scandal, reports of genocide in Myanmar, a data breach of 30 million users, and more.

Read more: Internal Facebook emails reveal execs discussed charging and cutting deals with companies for access to user data

The problematic position Facebook finds itself in today — a company that makes its money from user data in a social climate where more people are increasingly concerned about their privacy — is perhaps why Moskovitz has stayed at Asana and in the enterprise space for more than a decade.

When asked his thoughts on Facebook's current situation, especially as it relates to privacy issues, Moskovitz deflected, saying: "Asana is a fast-growing business. We have 400 employees. My energy and attention is pretty much 100% consumed with this project so I don't spend a lot of time thinking about consumer net."

Perhaps that's true.

Asana did just raise a $50 million Series E, bringing its valuation to $1.5 billion. The company is growing internationally — opening up an Australia office next week and a Japan office next year — and says its revenue is growing 90% year-over-year. Moskovitz also tells us Asana plans to increase its team of 400 to 600 by the end of 2019.

But for someone who learned PHP in his dorm room to help build an early version of "thefacebook.com," it's hard to imagine Moskovitz doesn't spend at least some of his time reflecting on the influence, good and bad, of the product he created almost 15 years ago.

Original author: Nick Bastone

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Jun
14

The winners and losers of E3 2018, the biggest video game event of the year (MSFT, SNE, NTDOY)

Shoppers in the U.S. spent more than $250 million on Nintendo products during the Thanksgiving and Black Friday weekend, breaking multiple company sales records in the process.

The company's newest video game console, the Nintendo Switch, saw a 115% increase in sales compared to Black Friday 2017 and sold better than any Nintendo console ever during the holiday weekend, the company said. Nintendo also sold more than one million games during the holiday weekend, an increase of 78% from last year.

However, despite the record-setting weekend, some analysts are not confident in the Switch's future and the console appears to be lagging behind Nintendo's own sales goals. The company expects to sell 38 million Switch consoles worldwide by March 2019, but research notes from multiple analysts compiled by Bloomberg project sales of 35 million, falling short of that benchmark.

Is a lack of innovation hurting the Switch?

Nintendo

Switch sales are still slowly growing over time, but the console hasn't had the same mainstream impact of its predecessor, the Nintendo Wii. The Nintendo Switch actually sold faster than the Wii did at launch, selling 4.8 million in the U.S. its first 10 months compared to the Wii's 4 million. But sales have slowed after the initial excitement died down, leaving the Switch at 8 million units sold in its first 20 months, compared to more than 10 million Wii consoles sold in the same period, according to the NPD Group. Nintendo's follow-up to the Wii, the Wii U, sold just over 3 million in its first 20 months, qualifying it as a flop.

Read more:The Nintendo Switch is having a surprisingly weak second year

The Wii became massively popular for its motion controls, which helped make the console more appealing for non-traditional gamers. The primary innovation for the Switch is its hybrid nature; it has the power of a home console but can also be taken on the go as a portable gaming system. Nintendo's handheld systems, including the Game Boy and 3DS, have always been successful and the Switch feels like a logical next step for the company; but it doesn't seem to have the same level of innovation that created a cultural phenomenon around the Wii.

More high-profile games will help boost sales

"Super Mario Party" is fun, but the Switch needs more exciting games to bring new buyers on board. "Super Mario Party"/Nintendo

A lack of major titles has likely impacted Switch sales as well. After releasing Switch games for its two biggest franchises, "The Legend of Zelda" and "Super Mario," in 2017 and bringing some of the more successful Wii U games to the new console, Nintendo slowed its release schedule. Sales have still been healthy thanks to titles like "Super Mario Party" and "Kirby Star Allies" selling more than three million copies combined, but few of the new games are the kind of high-profile releases that help sell consoles.

The two biggest Switch games of 2018, "Pokémon: Let's Go" and "Super Smash Bros. Ultimate" are releasing less than one month apart. Nintendo reported more than 1.5 million copies of the new Pokémon games have been sold in the U.S. within the first 10 days of release, and the December 7th launch of "Super Smash Bros. Ultimate" is even more highly-anticipated. The holiday release of both games will help boost Switch sales through the end of the year and push Nintendo closer to its March 2019 goal of 38 million sold — and it feasible could hit its sales goal if the Switch out-performs analysts' projections.

While the Switch may not be the console that defines the next generation of video games, it continues to see steady growth and hasn't disappointed early adopters. The original Wii and the Wii U both suffered from a lack of third-party titles. When Nintendo wasn't delivering their own games, other developers hesitated to commit to Nintendo's unusual hardware and outdated online features. A healthy install base and overhauled online offerings have kept major publishers and indie studios invested in releasing their games on the Switch, including more mature rated titles, which were a rarity on the Wii.

The Switch also has a greater commitment to offline multiplayer gaming compared to other gaming consoles, and has no shortage of games to friends play together on a single Switch, or multiple Switch consoles. Nintendo's first-party games like "Pokémon: Let's Go" and "Super Mario Odyssey" have also included special cooperative modes so family members can share play time, or a more casual gamer can help out a friend without having to learn how to play a brand new game.

If Nintendo remains consistent in bringing its fan-favorite series to the console and maintains support from third-party developers, the Switch should have a healthy future ahead — even if it doesn't change the way we play games.

Original author: Kevin Webb

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Jun
14

Facebook is building a big new $750 million data center in Alabama (FB)

Verizon's initial test cities have been lit up with 5G, and we're already getting an indication that disruption is underway.

The telco giant began offering its 5G Home service to customers in four initial markets — Houston, Indianapolis, Los Angeles, and Sacramento, California — in October, choosing cities where Verizon is not the incumbent carrier, meaning there is room for growth in the market.

At a sell-side analyst event at Verizon's New York City office, Verizon management spoke about the initial results of the offering, sharing that about half of the customers who signed up for 5G Home were not previous customers to Verizon, "which they have been surprised by considering the notable discount for Verizon customers," Cowen analysts wrote in a research note.

Verizon did not share underlying details about what type of companies they were stealing share from, whether that be cable companies or telcos that offer service in the area, according to Cowen. Verizon declined further specifics about the service when contacted by Business Insider.

But the share stealing from other companies was likely welcome news to Verizon execs, as it reinforced a similar point they've been making all year.

"Verizon 5G Home is ideal for consumers looking to 'cut the cord' or upgrade from their current cable service," Verizon wrote in a release in September.

Cable companies provide fixed-line broadband to homes, or internet delivered through cables that connect to a modem. 5G fixed-wireless broadband uses radio signals and the installation of an antenna outside of the home to deliver internet.

Offering fixed-wireless broadband may be a potential way for telcos to fight back against cable companies, which are increasingly stealing broadband customers away. Bolstered by a strong economy and a growing necessity for a fast, persistent, in-home internet connection, analysts see continued growth opportunities for cable.

"Telco should lose the long-term battle [for broadband] with an inferior price-value proposition as consumers will demand higher speeds," Cowen analysts wrote in an October report.

Typically, cable companies have faster, more reliable service than telcos because of the underlying technology.

In the telecom sector, the cheapest option for broadband access is typically DSL. DSL — digital subscriber line — is a service that's provided over a copper wire. This type of service is slow and unreliable with limited ability for streaming. The cheapest option at cable companies, on the other hand, is offered over a coaxial cable. That means faster speeds and more reliability, but often at a higher price. Fiber is the fastest and most costly option, and is offered by both cable and telecom companies.

But 5G could be a game changer. Verizon has promised that 5G Home customers should expect typical speeds of about 300 Mbps, with peak speeds of 1 Gbps. It currently costs $70 a month, $50 a month for Verizon customer.

Verizon's 5G broadband offering isn't the only strategy that seems aimed at disrupting the cable industry.

Verizon announced that it would include a free Apple TV 4K and three months of free YouTube TV service along with 5G service to customers in each of its four initial markets. The bundling of residential broadband service and live TV implies that customers would be able to cut linear-TV subscriptions to get similar programming for free.

"When we started to design the 5G, we decided we'll have a cordless world," Verizon CEO Hans Vestberg said on CNBC in August. "You're going to get the connectivity that is 100% all of the time and the speed that you have never seen before wireless."

Original author: Abby Jackson

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Jun
14

Immigrants founded and co-founded half of all the billion-dollar startups in 2016, creating over 33,000 jobs

Thirteen companies took the stage today at Disrupt Berlin, delivering six-minute pitches and demos, then answering free-for-all questions from expert judges. Now that the judges have given us their feedback, we’ve chosen five finalists.

These finalists will all take the stage again tomorrow afternoon to present in front of a new set of judges, who will have time to ask more in-depth questions. Then one winner will be chosen to take home the Disrupt Cup — not to mention $50,000, equity-free.

Here are the finalists. The competition will be live-streamed on TechCrunch starting at 2:05pm Berlin time on Friday.

Imago AI

Imago AI is applying AI to help feed the world’s growing population by increasing crop yields and reducing food waste. To accomplish this, it’s using computer vision and machine learning technology to fully automate the laborious task of measuring crop output and quality.

Read more about Imago AI here.

Kalepso

Kalepso says it can do better than other database offerings out there by melding strong security with high reliability, while filling in the spots where sensitive data can be accessed or obtained in the clear. Its Harvard-educated founders argued that all the existing database services out there are either slow or insecure.

Read more about Kalepso here.

Legacy

Legacy is tackling an interesting problem: the reduction of sperm motility as we age. By freezing men’s sperm, this Swiss-based company promises to keep our boys safe and potent as we get older, a consideration that many find vital as we marry and have kids later.

Read more about Legacy here.

Polyteia

Polyteia is building a platform that would allow city leaders to unify and analyze the data that represents the constituents they serve. The problem, the company says, is that local governments collect a lot of data, but they aren’t always great at organizing and using it efficiently.

Read more about Polyteia here.

Spike

Spike lets family and doctors lend a hand to diabetes patients by sending them real-time alerts about their stats. And the app’s artificial intelligence features can even send helpful reminders or suggest the most diabetes-friendly meals when you walk into a restaurant.

Read more about Spike Diabetes here.

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Mar
27

Rocket startup Skyrora shifts production to hand sanitizer and face masks for coronavirus response

Devdutt Yellurkar: I came across this company in Copenhagen. At that time, Twitter had just launched. We were one of the first investors in Twitter. Twitter Search had just launched. I went and...

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Original author: Sramana Mitra

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May
22

5 Investor Podcasts Discuss A Wide Variety Of Startup Interests - Sramana Mitra

Lyft has finally given us a glimpse of its forthcoming line of shareable bikes, which the ridesharing company says will be available to rent within its mobile app in select cities “soon.”

The news comes as the $15 billion company announces the final close of its acquisition of Motivate, the New York City-based mobility startup that owns a number of bike-rental services, like Citi Bike, Ford GoBike, Divvy, Blue Bikes and Capital Bikeshare. The transaction was reportedly worth some $250 million.

Lyft brought in $600 million in fresh funding in June from backers Fidelity Research & Management, AllianceBernstein, Baillie Gifford, KKR, CapitalG, Rakuten and others.

Now that its bike deal is complete, Lyft becomes the largest bike service provider in the U.S. That’s a big leap forward for a company that hopes to have the largest dockless bike fleet in the world — outside of China, of course, where companies like Mobike have deployed millions of bikes.

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As part of the deal, Lyft will invest $100 million in New York’s Citi Bike, tripling the number of bikes available to 40,000 by 2023. 

Lyft launched its first fleet of scooters earlier this year in Denver, hot off the heels of scooter-mania, which saw companies like Bird and Lime garner billion-dollar valuations and complete launches all over the world.

The company says the scooters have been a success thus far. In Denver, for example, 15 percent of Lyft rides in 2018 were taken on scooters. The company has also made scooters available to rent within its app in Santa Monica and Washington, DC — a list that will undoubtedly swell in 2019.

Here’s hoping Lyft’s bike wheels are actually pink. If not, I will be gravely disappointed.

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Jun
19

YouTube has blocked MIT's educational video clips for 4 days because of updated 'partner agreements' and it's left the university frustrated (GOOG, GOOGL)

Legacy is tackling an interesting problem: the reduction of sperm motility as we age. By freezing our sperm, this Swiss-based company promises to keep our boys safe and potent as we get older, a consideration that many find vital as we marry and have kids later. Legacy, which exhibited in Startup Alley at Disrupt Berlin 2018, was chosen as the wildcard company to present its services onstage during Startup Battlefield.

How does it work? Well, the company delivers a system for grabbing sperm. The material is kept in a specially made container and shipped to a nearby clinic where they then test the sperm and place it in cryogenic storage. You can then make a withdrawal when you’re ready for babies.

“Our unique at-home solution allows men to have their sperm analyzed and frozen at a clinic without leaving their home or having to meet with a physician,” said founder Khaled Kteily. “All clients receive a full fertility analysis, including personalized recommendations using our machine learning-driven technology.”

Kteily ensures us that our special sauce will stay safe over the years.

“Our core values of privacy, quality, and security ensure discretion, anonymity, and the highest level of quality for all our clients, including multi-site storage, whereby our clients’ deposits are stored in multiple tanks in multiple locations at high security.”

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The company offers three packages: Bronze, Gold and Platinum. The $1,000 Bronze package requires you to take your sperm to a clinic where it will be tested and cryogenically stored. The Platinum plan costs $10,000 and ensures the company will keep up to six samples of your swimmers indefinitely, affording your genetic material practical immortality.

Kteily founded the company after a friend looked for solutions to sperm storage while facing cancer treatment. Realizing there was nothing that looked trustworthy or usable, he used his background in health and entrepreneurship to build Legacy.

The company has raised $250,000 and they are profitable. Kteily sees his company as the “Swiss Bank” of sperm storage.

“Male fertility has declined by 50 percent. Every 8 months, men produce a new genetic mutation that gets passed on to their children. Birth rates around the world are plummeting and men are responsible for infertility in 30-50 percent of couples. Meanwhile, you can freeze sperm indefinitely with no loss in quality — through Legacy, without having to leave your home and at a tenth of the cost of egg freezing,” he said. “We treat our clients as a private bank would — our core values of quality, privacy and security ensure our clients are taken care of at every level.”

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Nov
29

Koo! is a social network for short-form podcasts

Alexandre Meregan says that music, and audio in general, has always been core to his life. But one day on his five-minute commute to work, trying to listen to a podcast for the first time, he realized that by the time he arrived at work he had only heard an introduction and a commercial jingle.

He immediately went to work on Koo!, a short-form podcast app aimed at young people. Koo! lets users record up to one minute of audio, add “sound stickers” like a drum roll or a poop sound, and share the “Koo” in a feed with their friends and followers.

Meregan believes that some young people are hesitant to share their thoughts on social media, which is mostly picture or video-based, because of the quantification of their self-worth through Like counters. With Koo! users can simply speak their thoughts without having to share a picture or video.

“At Koo! we believe a lot of great content is being held back by teenagers due to insecurities that comes with photo and video,” said Meregan onstage at TechCrunch Disrupt Berlin on the Startup Battlefield. “We feel that what you say should be more important than how you look.”

Like most social networks, Koo! is primarily focused on acquiring new users before focusing on a revenue model. Ad-supported revenue is the most obvious option to make money, but Meregan says that the team has been floating around a few other ideas, as well.

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One user-acquisition tactic, according to Meregan, is to target YouTube content creators and give them a complimentary service to share their thoughts and voice.

A handful of startups have tried their hand at audio-based social networks, but few have managed to gain much traction.

Koo! is backed by Sweet Studio, though Meregan declined to share the amount of funding the company has received to date.

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Nov
29

Rlay offers a blockchain-powered platform to help companies build better crowdsourced data sets

The team behind Rlay believes that blockchain technology can play a crucial role in helping businesses crowdsource their data-gathering tasks.

Founder Michael Hirn said this is a problem he encountered while working with Sunstone Capital to develop a more quantitative approach to venture capital, which meant pulling startup data from a wide variety of online sources. It ended up being an incredibly time-consuming process, and he said, “90 percent of the time was spent cleaning the data and acquiring the data.”

CTO Max Goisser argued that this is a broad problem. There are already successful examples of crowdsourced data, most notably Wikipedia, but in his view, they succeeded because “these things were of value for the entire world — everyone’s interested in that.”

“But what if you wanted to crowdsource something that is [only] interesting to you as a company?” Goisser said. Then you’d need the right incentive system to convince people to contribute. And that’s where Rlay (pronounced “relay”) comes in — the startup is launching onstage today as part of our Startup Battlefield at Disrupt Berlin.

There are other startups, like Dirt Protocol, offering blockchain-powered tools for data collection and verification. But it sounds like one of Rlay’s big selling points is its ability to integrate with existing enterprise database technology.

In other words, Rlay leverages the blockchain side of things to provide a mechanism for people to contribute data and be rewarded for their contributions (each customer decides how they want to structure the incentives), but the goal is to collect the data in a format that’s useful for the company, and where, if the company desires, it can be kept private.

“We abstract over the backend database that you as a company would use, we abstract over the blockchain or ledger technology — it’s currently Ethereum, but technically, it doesn’t matter,” Hirn said. “So you don’t have to figure out how to work between Postgres and Ethereum, you don’t have to figure out ‘How do we represent the data?’, all of that is taken care of by Rlay.”

As for the incentives, he said:

There are almost as many ways [of] incentivizing as there are different types of financial products. Obviously some ways are more robust than others and we outlined a very general and universal incentive mechanism in our whitepaper, but for most of the applications that is a little bit to complex. So with Rlay, we will provide some templates in the future and certainly advice for certain ways when we work with a client, but Rlay just gives a good interface to define these things very easily.

Ultimately, this should allow companies to acquire the data they need at a lower cost than going out and buying data sets or hiring their own data collection team. For example, Hirn said Rlay is working with “a big name in the blockchain space” to gather environmental, social and governance (ESG) data required by hedge funds and other investors.

For now, Hirn said Rlay is focused on working with developers to collect data that’s online but not aggregated or structured in a way that makes it easily accessible. In the ESG case, that means writing scripts to pull the data from the reports that many companies are already publishing. Ultimately, Rlay could move into collecting data from the physical world, as well.

Goisser said the company is also developing various ways to recognize and resolve conflicting data, so its customers can be sure that the information they’re collecting is accurate.

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Jun
20

There's a 'dumb reason' why PlayStation and Xbox gamers can't play online together, according to a former Sony insider

Presenting onstage today in the 2018 TC Disrupt Berlin Battlefield is Indian agtech startup Imago AI, which is applying AI to help feed the world’s growing population by increasing crop yields and reducing food waste. As startup missions go, it’s an impressively ambitious one.

The team, which is based out of Gurgaon near New Delhi, is using computer vision and machine learning technology to fully automate the laborious task of measuring crop output and quality — speeding up what can be a very manual and time-consuming process to quantify plant traits, often involving tools like calipers and weighing scales, toward the goal of developing higher-yielding, more disease-resistant crop varieties.

Currently they say it can take seed companies between six and eight years to develop a new seed variety. So anything that increases efficiency stands to be a major boon.

And they claim their technology can reduce the time it takes to measure crop traits by up to 75 percent.

In the case of one pilot, they say a client had previously been taking two days to manually measure the grades of their crops using traditional methods like scales. “Now using this image-based AI system they’re able to do it in just 30 to 40 minutes,” says co-founder Abhishek Goyal.

Using AI-based image processing technology, they can also crucially capture more data points than the human eye can (or easily can), because their algorithms can measure and asses finer-grained phenotypic differences than a person might pick up on or be easily able to quantify just judging by eye alone.

“Some of the phenotypic traits they are not possible to identify manually,” says co-founder Shweta Gupta. “Maybe very tedious or for whatever all these laborious reasons. So now with this AI-enabled [process] we are now able to capture more phenotypic traits.

“So more coverage of phenotypic traits… and with this more coverage we are having more scope to select the next cycle of this seed. So this further improves the seed quality in the longer run.”

The wordy phrase they use to describe what their technology delivers is: “High throughput precision phenotyping.”

Or, put another way, they’re using AI to data-mine the quality parameters of crops.

“These quality parameters are very critical to these seed companies,” says Gupta. “Plant breeding is a very costly and very complex process… in terms of human resource and time these seed companies need to deploy.

“The research [on the kind of rice you are eating now] has been done in the previous seven to eight years. It’s a complete cycle… chain of continuous development to finally come up with a variety which is appropriate to launch in the market.”

But there’s more. The overarching vision is not only that AI will help seed companies make key decisions to select for higher-quality seed that can deliver higher-yielding crops, while also speeding up that (slow) process. Ultimately their hope is that the data generated by applying AI to automate phenotypic measurements of crops will also be able to yield highly valuable predictive insights.

Here, if they can establish a correlation between geotagged phenotypic measurements and the plants’ genotypic data (data which the seed giants they’re targeting would already hold), the AI-enabled data-capture method could also steer farmers toward the best crop variety to use in a particular location and climate condition — purely based on insights triangulated and unlocked from the data they’re capturing.

One current approach in agriculture to selecting the best crop for a particular location/environment can involve using genetic engineering. Though the technology has attracted major controversy when applied to foodstuffs.

Imago AI hopes to arrive at a similar outcome via an entirely different technology route, based on data and seed selection. And, well, AI’s uniform eye informing key agriculture decisions.

“Once we are able to establish this sort of relation this is very helpful for these companies and this can further reduce their total seed production time from six to eight years to very less number of years,” says Goyal. “So this sort of correlation we are trying to establish. But for that initially we need to complete very accurate phenotypic data.”

“Once we have enough data we will establish the correlation between phenotypic data and genotypic data and what will happen after establishing this correlation we’ll be able to predict for these companies that, with your genomics data, and with the environmental conditions, and we’ll predict phenotypic data for you,” adds Gupta.

“That will be highly, highly valuable to them because this will help them in reducing their time resources in terms of this breeding and phenotyping process.”

“Maybe then they won’t really have to actually do a field trial,” suggests Goyal. “For some of the traits they don’t really need to do a field trial and then check what is going to be that particular trait if we are able to predict with a very high accuracy if this is the genomics and this is the environment, then this is going to be the phenotype.”

So — in plainer language — the technology could suggest the best seed variety for a particular place and climate, based on a finer-grained understanding of the underlying traits.

In the case of disease-resistant plant strains it could potentially even help reduce the amount of pesticides farmers use, say, if the the selected crops are naturally more resilient to disease.

While, on the seed generation front, Gupta suggests their approach could shrink the production time frame — from up to eight years to “maybe three or four.”

“That’s the amount of time-saving we are talking about,” she adds, emphasizing the really big promise of AI-enabled phenotyping is a higher amount of food production in significantly less time.

As well as measuring crop traits, they’re also using computer vision and machine learning algorithms to identify crop diseases and measure with greater precision how extensively a particular plant has been affected.

This is another key data point if your goal is to help select for phenotypic traits associated with better natural resistance to disease, with the founders noting that around 40 percent of the world’s crop load is lost (and so wasted) as a result of disease.

And, again, measuring how diseased a plant is can be a judgement call for the human eye — resulting in data of varying accuracy. So by automating disease capture using AI-based image analysis the recorded data becomes more uniformly consistent, thereby allowing for better quality benchmarking to feed into seed selection decisions, boosting the entire hybrid production cycle.

Sample image processed by Imago AI showing the proportion of a crop affected by disease

In terms of where they are now, the bootstrapping, nearly year-old startup is working off data from a number of trials with seed companies — including a recurring paying client they can name (DuPont Pioneer); and several paid trials with other seed firms they can’t (because they remain under NDA).

Trials have taken place in India and the U.S. so far, they tell TechCrunch.

“We don’t really need to pilot our tech everywhere. And these are global [seed] companies, present in 30, 40 countries,” adds Goyal, arguing their approach naturally scales. “They test our technology at a single country and then it’s very easy to implement it at other locations.”

Their imaging software does not depend on any proprietary camera hardware. Data can be captured with tablets or smartphones, or even from a camera on a drone or using satellite imagery, depending on the sought for application.

Although for measuring crop traits like length they do need some reference point to be associated with the image.

“That can be achieved by either fixing the distance of object from the camera or by placing a reference object in the image. We use both the methods, as per convenience of the user,” they note on that.

While some current phenotyping methods are very manual, there are also other image-processing applications in the market targeting the agriculture sector.

But Imago AI’s founders argue these rival software products are only partially automated — “so a lot of manual input is required,” whereas they couch their approach as fully automated, with just one initial manual step of selecting the crop to be quantified by their AI’s eye.

Another advantage they flag up versus other players is that their approach is entirely non-destructive. This means crop samples do not need to be plucked and taken away to be photographed in a lab, for example. Rather, pictures of crops can be snapped in situ in the field, with measurements and assessments still — they claim — accurately extracted by algorithms which intelligently filter out background noise.

“In the pilots that we have done with companies, they compared our results with the manual measuring results and we have achieved more than 99 percent accuracy,” is Goyal’s claim.

While, for quantifying disease spread, he points out it’s just not manually possible to make exact measurements. “In manual measurement, an expert is only able to provide a certain percentage range of disease severity for an image example; (25-40 percent) but using our software they can accurately pin point the exact percentage (e.g. 32.23 percent),” he adds.

They are also providing additional support for seed researchers — by offering a range of mathematical tools with their software to support analysis of the phenotypic data, with results that can be easily exported as an Excel file.

“Initially we also didn’t have this much knowledge about phenotyping, so we interviewed around 50 researchers from technical universities, from these seed input companies and interacted with farmers — then we understood what exactly is the pain-point and from there these use cases came up,” they add, noting that they used WhatsApp groups to gather intel from local farmers.

While seed companies are the initial target customers, they see applications for their visual approach for optimizing quality assessment in the food industry too — saying they are looking into using computer vision and hyper-spectral imaging data to do things like identify foreign material or adulteration in production line foodstuffs.

“Because in food companies a lot of food is wasted on their production lines,” explains Gupta. “So that is where we see our technology really helps — reducing that sort of wastage.”

“Basically any visual parameter which needs to be measured that can be done through our technology,” adds Goyal.

They plan to explore potential applications in the food industry over the next 12 months, while focusing on building out their trials and implementations with seed giants. Their target is to have between 40 to 50 companies using their AI system globally within a year’s time, they add.

While the business is revenue-generating now — and “fully self-enabled” as they put it — they are also looking to take in some strategic investment.

“Right now we are in touch with a few investors,” confirms Goyal. “We are looking for strategic investors who have access to agriculture industry or maybe food industry… but at present haven’t raised any amount.”

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29

Spike Diabetes applies social pressure to keep patients safe

It can be tough for diabetes patients to keep a constant eye on their glucose levels. Spike Diabetes lets family and doctors lend a hand by sending them real-time alerts about the patient’s stats. And the app’s artificial intelligence features can even send helpful reminders or suggest the most diabetes-friendly meals when you walk into a restaurant.

Today onstage at TechCrunch Disrupt Berlin Startup Battlefield, Spike Diabetes is launching its Guardian Portal so loved ones with permission can get a closer look at a patients’ data and coach them about staying healthy.

“Diabetes is an incurable chronic disease that forces diabetics to live a life of carb-counting and insulin injections,” says Spike co-founder Ziad Alame. “Since diabetics are forced to do those mundane tasks for the rest of their lives, they tend to fall off the tracks sometimes simply because of how demanding those tasks can be. As for guardians and parents, they are left in the dark about their loved ones.”

With doctors often only getting data during quarterly or semi-annual checkups, patients are often left on their own. A lifetime of management is very stressful, especially if your life depends on it.”

The startup faces stiff competition from literally hundreds of apps claiming to help patients monitor their vitals. MySugr, Diabetes Connect and Health2Sync are among the most popular. But Alame says many require users to track their levels through complex spreadsheets.

Spike offers customizable mobile charts, and will even read users their stats out loud to make staying safe an easier part of daily life. Spike is invite-only and just on iOS, but it also touts an Apple Watch app plus optimized engineering to minimize battery usage.

“Spike started off as a personal project to help myself adhere better to my medication after reaching critical times in my diabetic life,” Alame tells me. Now he’s bringing to the problem his experience as CTO of the GivingLoop charity platform, TeensWhoCode summer camp and Zoomal crowdfunding site for the Arab world.

Alame has assembled a team of diabetics, engineers and PhDs, plus $200,000 in seed funding from MEVP, Cedar Mundi and Phoenician Funds. They hope to see the premium paid version of Spike’s freemium app overtake longstanding competition through word-of-mouth triggered by bringing loved ones and doctors into the loop.

One of the app’s most interesting features is the proactive info it delivers. “For example, you walk into McDonald’s around 2 PM. Spike would automatically know it’s lunch time for you and suggest the top three options you can have with approximate carb counts,” Alame tells me.

“After some time (~25 minutes) Spike automatically reminds you of your insulin and syncs with your diabetic devices to log all the details. With time, as the app gets to know the diabetic’s taste more, Spike would be able to suggest small behavioral tweaks to enhance lifestyle such as walking routes suggestions or new places similar to the diabetic’s taste but with a lower insulin consumption rate.”

Alame jokes that “The biggest risk [to Spike] is the best thing that can happen — which is finding a cure for diabetes.” But even if that happens, he believes Spike’s app for tracking and actively coaching users could be relevant to other diseases, as well. For now, though, it will have to convince users that an app could make managing diabetes simpler rather than more complex.

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Nov
29

Insurance app Lemonade prepares for European expansion

Lemonade this morning revealed plans to expand into the European market. The news marks the first international expansion for the AI-powered insurance app, which launched in New York City in 2016.

The official announcement issued by the company is extremely light on details, with the promise to reveal more pertinent information — namely, which country will be the first on its list — “shortly.” Instead, the news is a bit of flag planting from the company, as it navigates the tricky international insurance waters.

It also notably comes a few months after the startup dropped a short-lived lawsuit alleging that German company Wefox had essentially reverse engineered the Lemonade model for ONE Insurance. “We intend to defend ourselves vigorously,” Wefox’s founder told TechCrunch at the time. “This lawsuit appears to be an attempt to bait the media into covering a non-issue.” Court filings showed that the suit was unceremoniously dropped.

For its part, Lemonade is positioning its global expansion among the list of some of tech’s most successful names in recent years.

“Whether in Chicago, Paris, or Singapore, today’s consumers listen to music on Spotify, ride with Uber, and stay with Airbnb. Great digital brands don’t stop at the water’s edge,” Lemonade CEO Daniel Schreiber said in a press release. “That’s why going global feels so natural for us: consumers are increasingly cosmopolitan, socially aware, and tech-native – everything Lemonade was built to be.”

The age of the digital startup has certainly afforded companies a more rapid path to international success, though the list of companies cited does, perhaps unintentionally point to some of the difficulties dealing with local regulations. And healthcare has enough complex nuances to put even song publishing to shame.

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