Oct
22

How Netflix's 'The Haunting of Hill House' pulled off the show's best episode, which included '18-page scenes without any cuts'

Netflix's new horror TV series, "The Haunting of Hill House," has quickly grown in popularity to become one of Netflix's best-reviewed shows. But one episode stands out for its immersive long takes.

Episode six features a series of one-shot takes, the longest being 17 minutes, as it flashes between the past and the present. A new Netflix featurette goes behind the scenes of the episode with the cast and crew.

When writing the script, the writer and director Mike Flanagan said that he "realized that a lot of the camera choreography needed to be incorporated into the draft itself, because we were doing 18-page scenes without any cuts."

Flanagan said he "wanted an episode that would appear to take place essentially in real time, in one single shot."

"It turned into a challenge unlike anything else I've ever had in a production," he continued. "The set had to actually be constructed with this episode in mind — we knew that we had certain shots that were going to require us to walk through the house in its entirety."

Carla Gugino, who plays Olivia Crain, the troubled mother on the show, added that "everyone has to be absolutely in sync with each other, and if one thing is off, the take is gone."

Watch the full video:

Original author: Travis Clark

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Oct
22

Uber may start delivering burgers by drones as soon as 2021 because its CEO says 'We need flying burgers'

Uber may be delivering burgers by drones as soon as 2021.

According to a job listing spotted by The Wall Street Journal, Uber is looking to hire an operations executive to make drone delivery functional by next year and available for commercial use by 2021.

The job post referenced UberExpress — which is the internal name for UberEats' drone delivery initiative — and said the executive would help "enable safe, legal, efficient and scalable flight operations" for the program.

The job listing has since been taken down from Uber's site after a spokesperson told The Wall Street Journal that it "does not fully reflect our program, which is still in very early days."

In May, Uber CEO Dara Khosrowshahi referenced the drone project at the company's Uber Elevate conference — which was dedicated to flying cars. "It's my personal belief that a key to solving urban mobility is flying burgers in any city," he said. "We need flying burgers. Everyone needs it, so we're working on that."

Khosrowshahi thinks drones could significantly cut down delivery time from today's UberEats couriers. Five to thirty-minute delivery time is the goal, he said at the conference.

Uber's foray into drone delivery is another service it's looking to add ahead of its expected 2019 IPO to ward off naysayers who worry about its past scandals and potential profitability from its core ride-hailing business, according to The Wall Street Journal.

Drone delivery is no easy task, however, as industry giants like Amazon have learned. Amazon announced in 2013 that it planned to roll out its drone delivery program within four to five years, but it suffered a setback this year when the company was not included in the U.S. Transportation Department drone-operations pilot program.

Uber was accepted into the Transportation Department's pilot in San Diego, which will focus on border protection and food delivery.

Original author: Nick Bastone

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Oct
22

1Mby1M Virtual Accelerator Investor Forum: With Ankit Jain of Gradient Ventures (Part 4) - Sramana Mitra

Sramana Mitra: How are the companies in the Valley that you’re investing in? Are they using offshore development centers where there is AI talent available? Ankit Jain: Even in the last year, it has...

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Original author: Sramana Mitra

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Sep
10

Sky Mavis announces $2.4M esports grant for Axie Infinity

Cowboy, the Belgian startup that designed and sells a smarter electronic bicycle, has raised €10 million in Series A funding.

Leading the round is Tiger Global Management, with participation from previous backers Index Ventures and Hardware Club. The new capital will be used to scale operations and expand beyond Belgium into Germany, U.K., Netherlands and France.

Founded in January 2017 by Adrien Roose and Karim Slaoui, who both previously co-founded Take Eat Easy (an early Deliveroo competitor), and Tanguy Goretti, who previously co-founded ridesharing startup Djump, Cowboy set out to build and sell direct a better designed e-bike.

This included making the Cowboy bike lighter in weight and more stylish than models from incumbents, and adding automatic motor assistance. The latter utilizes built-in sensor technology that measures speed and torque, and adjusts to pedaling style and force to deliver an added boost of motor-assisted speed at key moments, e.g. when you start pedaling, accelerate or go uphill.

In addition, Cowboy’s “smart” features powered by the Cowboy app enables the device to be switched on and off, track location, provide “ride stats” and support remote troubleshooting and software updates. A theft detection feature is also promised soon.

“We designed the Cowboy bike to appeal specifically to people who are yet to be convinced that electric bikes are a practical and mainstream mode of transport,” says Adrien Roose, Cowboy’s CEO, in a statement.

“We focused our attention on the three main reasons people are reluctant to purchase electric bikes: high cost, poor design and redundant technology — or a combination of the above — and we set about fixing them all.”

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May
12

Google launches ‘open-source maintenance crew’

How can Lime differentiate its scooters and bikes from the piles of Birds and Spins filling Los Angeles sidewalks? Apparently with a physical storefront where it can convince customers of the wonders of on-demand mobility. According to a job listing from Lime seeking a “Retail Store Manager,” the startup plans to open a “lifestyle brand store in Santa Monica”.

[Update: Following the publication of this article, Lime responded to our inquiry, telling TechCrunch “In the coming year, Lime will be opening brick & mortar storefronts in major US and international markets, starting with Santa Monica, California. Locations will place heavy importance on community engagement, rider education, and brand experience.”]

Lime will rent vehicles directly from the store as well as charge them, with the full-time manager’s role including “monitoring inventory levels” as well as daily operations, and employee recruiting. They’ll also be throwing live events to build Lime’s hype. Given the company is calling this a lifestyle store, the focus will likely be on showing how Lime’s scooters and bikes can become part of people’s lives and enhance their happiness, rather than on maximizing rental volume.

A rendering of Lime’s new office it’s building in San Francisco. The design could hint at what Lime wants to do with its retail store branding.

TechCrunch has confirmed Lime’s plans for the store, and that the deal to build it came through Lime’s investor Fifth Wall Ventures that arranges partnerships between tech companies and real estate developers. As for what will happen at the store, Fifth Wall’s Adam Demuyakor tells me “There will be deployment of scooters, charging of scooters, and some sales of apparel and accessories that are related. There will be demos, tutorials, and presentations on how to be safe.” Growing Lime’s traction is critical to Fifth Wall, which led the startup’s $70 million Series B extension in February, and joined its $335 million Series C in July.

The big motive here is for Lime to repair relationships with the local community. Demuyakor tells me “when e-mobility companies appeared, some people really loved it, but some people said ‘you dropped a bunch of scooters on my sidewalk'” in what he called a “really irresponsible manner”. But with a physical store front, Lime will have human faces to push its side of the story. “Lime would have an opportunity to control the narrative, engage with the local community, and invest in Santa Monica. They can make it clear that they care about the constituency there . . . Educate them on the benefits, educate them on safety, and provide helmets.” That could counter the idea that scooters just get in the way and are an urban eye sore. “The narrative took on legs of its own” Demuyakor explains.

Fifth Wall worked on the Lime retail store deal with one of its core LPs, Macerich, the third-largest owner of shopping malls in the US. Lime will become the exclusive distributor of scooters at the Macerich-owned open-air mall Santa Monica place. The idea is that by linking up with Macerich, Lime will be able to deploy and charge scooters “where people are coming and going from the mall” Fifth Wall co-founder and managing partner Brendan Wallace tells TechCrunch. He explains that scooter companies have thought about expansion too purely from the standpoint of acheiving market saturation. “You have to partner with local organizations both public and private, and real estate organizations because real estate developers are typically the most politically influential.”]

The listing was first spotted by Nathan Pope, a transportation researcher for consultancy Steer, and later by Cheddar’s Alex Heath. We’ve reached out to Lime and will update if we hear back from the company. Glassdoor shows that the store manager job was posted more than 30 days ago, and the site estimates the potential salary at $41,000 to $74,000.

The sheer number of Lime scooters in Santa Monica where the store will arise is already staggering. Supply doesn’t seem to be bottlenecking as it is in some other cities. Instead, it’s the fierce competition from hometown startups like local favorite Bird that Lime wants to overcome through brick-and-mortar marketing. Often you’ll see scooters from Lime and Bird lined up right next to each other. And with similarly cheap pricing, the decision of which to use comes down to brand affinity. According to Apptopia, Bird’s monthly U.S. downloads surpassed Lime’s in July for the first time ever, despite Lime offering bikes as well as scooters.

There are plenty of people who still have never tried an on-demand electric scooter, and going through the process of renting, unlocking and riding them might be daunting to some. If employees at a physical store can teach people that it’s not too difficult to jump aboard, Lime could become their default scooter. This, of course, comes with risks too, as electric scooters can be dangerous to the novice or uncoordinated. More aggressive in-person marketing might pull in users who were apprehensive about scooting for the right reason — concerns about safety. And there’s also the issue of overhead costs. Beyond charging and repair facilities near its major markets, brick-and-mortar stores could crank up the burn rate on Lime’s $467 million in funding.

As cities figure out how to best regulate scooters, I hope we see a focus on uptime, aka how often the scooters actually function properly. It’s common in LA to rent a scooter, then discover the handlebar is loose or the acceleration is sluggish, end the ride and rent another scooter from the same brand or a competitor in hopes of getting one that works right. I ditched several Lime scooters like this while in LA last week.

Regulators should inquire about what percentage of scooter company fleets are broken and what percentage of rides end within 90 seconds of starting, which is typically due to a malfunctioning vehicle. Cities could then award permits to companies that keep their fleets running, rather than that litter the streets with massive paper weights, or worse, vehicles that could crash and hurt people. Scooters are fun, cheap and therefore accessible to more people than Ubers, and reduce traffic. But unless startups like Lime put a bigger focus on helmets and cautious riding behavior, we could trade congestion on the roads for congestion in the emergency room. Hopefully the retail store will drive closer ties between Lime and city governments to prioritize safety.

This article has been updated to include Lime’s statement as well as comments from Fifth Wall Ventures.

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Oct
22

Weekend Reading

I was really tired this weekend (from the week) and didn’t feel like doing anything other than laying on the couch near Amy and reading. She was also tired, as she spent the week in Wellesley at a board meeting and a bunch of other Wellesley related stuff, so even though the Boulder weather was magnificent, we stayed home other than a quick trip to Boulder to get our eyes checked and have sushi with some friends. Oh, and took really long naps both afternoons.

By Sunday night I was tired of reading (but Amy wasn’t) so I went downstairs and watched Finding Traction, the documentary about Nikki Kimball’s monstrous performance on the 273 mile Long Trail in Vermont. While I’m limited to running marathons, I find inspiration from watching ultras …

The book list started with me finishing a book I’d started earlier in the week. I read mostly on the Kindle this weekend, but John Doerr’s book came in the mail in physical form so I read it that way.

Mastering the Market Cycle: Getting the Odds on Your Side: Howard Marks (Oaktree) is a brilliant investor (and great writer) so I read everything by him I can get my hands on (and there’s a lot of it going back to 1990.) Not surprisingly, I learned a few key things from this book and it reinforced a bunch of others I already knew.

Power to the Startup People: How To Grow Your Startup Career When You’re Not The Founder: There is an infinite number of books now aimed at startup founders and entrepreneurs, but very few aimed at startup employees. Sarah Brown is a Boulder friend (now living in SF) and this is a really good book. There are lots of Boulder stories and people in it, but Sarah does a great job of covering a lot of ground that is generally useful to anyone considering working in, or already working in a startup. It’s the second “startup employee” book that I think is really good, following Jeff Bussgang’s Entering StartUpLand: An Essential Guide to Finding the Right Job (which is referenced a few times in Sarah’s book.)

Year of Yes: How to Dance It Out, Stand In the Sun and Be Your Own Person: In my effort to read more memoirs by women, I enjoyed Shonda Rimes book. I can’t remember who referred it to me, but it was good and added a dimension to my memoir reading that had a lot more X and no Y in it. Amy and I regularly watched both Grey’s Anatomy (at least the first four seasons) and Scandal (again – maybe four seasons) so Shonda Rimes has entertained us a lot. With this book, she helped widen my perspective on a number of things I hadn’t thought much about.

From Like to Love: Inspiring Emotional Commitment from Employees and Customers: Keith Alper is a long-time friend – we were both on the YEO board in the mid-1990s, spent a lot of time with the Kauffman Foundation when Jana Matthews was there, and have continued to connect on numerous things over the years. This book embodies everything I’d expect from Keith, is a good read and had some fun new suggestions in it. Definitely worth reading if you are a CEO and you like the word “love” in a business context. And, if the word “love” in a business context scares you, then this book is also for you.

Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: John Doerr is well-known as a long-time advocate of OKRs. Today, I hear the word OKR in a lot of contexts where I’m 100% certain the company is implementing them incorrectly. If you are using OKRs, please read this book. And, if you are thinking about OKRs, please read this book.

Ready for Monday? I’m going to start things off with a short run.

Also published on Medium.

Original author: Brad Feld

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Oct
22

Billion Dollar Unicorns: Indian B2B Marketplace Udaan Flies In - Sramana Mitra

According to a 2016 report by Deloitte and the Confederation of Indian Industry, the B2B e-commerce market is expected to reach $700 billion by 2020 and is becoming a hot destination for venture...

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Original author: Sramana_Mitra

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Oct
22

Minds, the blockchain-based social network, grabs a $6M Series A

Minds, a decentralized social network, has raised $6 million in Series A funding from Medici Ventures, Overstock.com’s venture arm. Overstock CEO Patrick Byrne will join the Minds Board of Directors.

What is a decentralized social network? The creators, who originally crowdfunded their product, see it as an anti-surveillance, anti-censorship, and anti-“big tech” platform that ensures that no one party controls your online presence. And Minds is already seeing solid movement.

“In June 2018, Minds saw an enormous uptick in new Vietnamese of hundreds of thousands users as a direct response to new laws in the country implementing an invasive ‘cybersecurity’ law which included uninhibited access to user data on social networks like Facebook and Google (who are complying so far) and the ability to censor user content,” said Minds founder Bill Ottman.

“There has been increasing excitement in recent years over the power of blockchain technology to liberate individuals and organizations,” said Byrne. “Minds’ work employing blockchain technology as a social media application is the next great innovation toward the mainstream use of this world-changing technology.”

Interestingly, Minds is a model for the future of hybrid investing, a process of raising some cash via token and raising further cash via VC. This model ensures a level of independence from investors but also allows expertise and experience to presumably flow into the company.

Ottman, for his part, just wants to build something revolutionary.

“The rise of an open source, encrypted and decentralized social network is crucial to combat the big-tech monopolies that have abused and ignored users for years. With systemic data breaches, shadow-banning and censorship, people over the world are demanding a digital revolution. User-safety, fair economies, and global freedom of expression depend on it – we are all in this battle together,” said Ottman.

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Sep
08

Open source security gets a boost with new scorecard and best practices

This feature from Gartner highlights the top ten strategic technology trends that oranizations need to explore in 2019. These include automation using AI, augmented analytics using ML, AI-driven...

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Original author: jyotsna popuri

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Oct
21

1Mby1M Virtual Accelerator Investor Forum: With Ankit Jain of Gradient Ventures (Part 3) - Sramana Mitra

Sramana Mitra: I was talking to a friend at a party last weekend. He’s very experienced and successful serial entrepreneur. He has invested in an AI company that is doing very well. But this question...

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Original author: Sramana Mitra

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Sep
08

Comcast will roll out multi-gig internet speeds in 2023

Huawei's Mate 20 Pro is here. It's a high-end flagship phone to go up against the Google Pixel 3 XL and the iPhone XS Max, with a price tag of €1049 (priced at £899 in the UK and equivalent to $1,220).

The Chinese phone maker is a huge deal, even if it doesn't quite boast the brand recognition of Samsung or Apple. It is the second biggest smartphone maker in the world, behind Samsung, and has put major spend into crafting beautiful flagship devices.

You might already be familiar with Huawei's P series, an impressive range of Android phones updated earlier this year. Now there's the year-end Mate 20 and Mate 20 Pro.

Here are the coolest new features on the Mate 20 Pro:

Qi-compatible phone-to-phone wireless charging which, in plain English, means you could wirelessly charge an iPhone or Samsung Galaxy phone by placing it against a Mate 20 Pro. Huawei lets you unlock your phone with your face through a facial recognition feature, similar to an iPhone. There's also on-screen fingerprint recognition, which works smoothly on a first run. A Leica-powered triple-lens camera intelligently tracks the subject of photos, has real-time video filters, and lets you take beautiful ultra-wide and close-up shots. It launches with Android 9 Pie out of the box. It's than the iPhone XS and iPhone XS Max.

Business Insider spent a few days with the Mate 20 Pro. Here's what we took away from a first look.

Original author: Shona Ghosh

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Sep
08

EA announces new Battlefield studio — Ridgeline Games

The US healthcare industry as it exists today is not sustainable. An aging patient population and rising burden of chronic disease have caused healthcare costs to skyrocket and left providers struggling to keep up with demand for care.

Business Insider Intelligence

Meanwhile, digital technologies in nearly every consumer experience outside of healthcare have raised patients' expectations for good service to be higher than ever.

One of the key mechanisms through which healthcare providers can finally evolve their outdated practices and exceed these expectations is wearable technology.

Presently, 33% of US consumers have adopted wearables, such as smartwatches and fitness trackers, to play a more active role in managing their health. In turn, insurers, providers, and employers are poised to become just as active leveraging these devices - and the data they capture - to abandon the traditional reimbursement model and improve patient outcomes with personalized, value-based care.

Adoption is going to keep climbing, as more than 80% of consumers are willing to wear tech that measures health data, according to Accenture — though they have reservations about who exactly should access it.

A new report from Business Insider Intelligence, Business Insider's premium research service, follows the growing adoption of wearables and breadth of functions they offer to outline how healthcare organizations and stakeholders can overcome this challenge and add greater value with wearable technology.

For insurers, providers, and employers, wearables present three distinct opportunities:

Insurers can use wearable data to enhance risk assessments and drive customer lifetime value. One study shows that wearables can incentivize healthier behavior associated with a 30% reduction in risk of cardiovascular events and death. Providers can use the remote patient monitoring capabilities of wearable technology to improve chronic disease management, lessen the burden of staff shortages, and navigate a changing reimbursement model. And since 90% of patients no longer feel obligated to stay with providers that don't deliver a satisfactory digital experience, wearables could help to attract and retain them. Employers can combine wearables with cash incentives to lower insurance costs and improve employee productivity. For example, The Greater Dayton Regional Transit Authority yielded $5 million in healthcare cost savings through a wearable-based employee wellness program.

Want to Learn More?

The Wearables in US Healthcare Report details the current and future market landscape of wearables in the US healthcare sector. It explores the key drivers behind wearable usage by insurers, healthcare providers, and employers, and the opportunities wearables afford to each of these stakeholders.

By outlining a successful case study from each stakeholder, the report highlights best practices in implementing wearables to reduce healthcare claims, improve patient outcomes, and drive insurance cost savings, as well as how the evolution of the market will create new, untapped opportunities for businesses.

Original author: Shelagh Dolan

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Oct
21

Investors including Andreessen Horowitz just made a $300 million bet that a startup can take on healthcare giants at caring for elderly Americans

A startup that wants to reinvent the way we take care of seniors in America just raised hundreds of millions as it gears up to launch its new plans in 2019.

Devoted Health on Tuesday said that it had raised $300 million in a series B round led by Andreessen Horowitz, bringing its total funding to $369 million in funding. The company is based in Waltham, Massachusetts, but it'll initially offer Medicare Advantage plans in parts of Florida, starting next year. Devoted is the latest firm to enter Medicare Advantage, the private side of the government-funded Medicare program for seniors. It'll have to compete for customers immediately with big, entrenched rivals like Humana, UnitedHealth Group and soon-to-be-merged CVS Health and Aetna. UnitedHealth on Tuesday said that it covers 4.9 million Medicare Advantage members, 12 percent more than a year earlier. About 19 million people were covered by Medicare Advantage last year.

Oscar Health, known for its individual plans on the Affordable Care Act insurance exchanges, said in August that it plans to move into the Medicare Advantage market after raising $375 million from Alphabet. Clover Health, which was founded in 2014, has been offering insurance plans in four states, with plans to expand into three more in 2019 Devoted was founded in 2017 by brothers Ed and Todd Park. Prior to Devoted, Todd co-founded health IT company Athenahealth and served as chief technology officer of the US during the Obama administration. Ed, who serves as Devoted's CEO, was formerly chief technology officer and later chief operating officer at Athenahealth.The company's plans might look a bit different from traditional insurance in that Devoted plans to do more than pay for visits to doctors and hospitals. It's also hiring nurses and other employees aimed at keeping seniors healthier and out of the hospital.

Because health insurers are in charge of paying for healthcare, the companies tend to know what's going on with a particular patient: have they been in for a check-up, or have they had a recent trip to the emergency room? Knowing that, the insurer — in this case Devoted — can clue in the other parts of the system so that the primary care doctor knows when his or her patient has been in the hospital and can follow up with them, for example.

To do that however, the Devoted team had to build out its own technology to process claims as well as build out its networks of doctors that it can work with. The latest funding round is being used to build out the technology to help them do that.

"Now we can sprint," DJ Patil, Devoted's head of technology told Business Insider.

Medicare Advantage, the private version of the government health insurance program for the elderly and some disabled people, has been steadily growing. As of 2017, 33% of people on Medicare were in one of these plans. Individuals can typically choose to enroll in either Traditional Medicare or Medicare Advantage plans. Medicare Advantage works like private insurance does for those under 65. It's designed to allow people to shop around and choose among different plans, which may restrict which doctors and hospitals individuals can use. The US government in turn pays the insurers a certain amount for each person who is covered, creating an incentive for the insurer to try to keep that person healthy and out of the hospital. If the insurer does a good job of caring for its customer at a low cost, it can keep the extra funds as profits.

"Medicare Advantage is today the simplest way to align financial incentives across the various parties in the system," Venrock partner Bryan Roberts, who's an investor and board member at Devoted told Business Insider. "Therefore, you can drive better efficiency in the healthcare system."

Vijay Pande, a partner at Andreessen Horowitz, said a key reason his firm led Devoted's fundraising was because of the implications plans like Devoted's could have beyond Florida, and even beyond just Americans 65 and older.

"The future could look like Medicare Advantage for all," Pande said.

See also:

Original author: Lydia Ramsey

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Oct
21

A former Googler and Facebook exec says a simple shift in mindset can help you land the raise you want

"Being able to put yourself in someone else's shoes is really important."

This is true of life in general, but it's especially true when you're asking your boss for a raise.

According to Libby Leffler, who is the vice president of membership at personal finance company SoFi as well as a former Googler and Facebook executive, the first thing to do when you're planning to petition your manager for a salary bump is to "consider where you're coming from and where they're coming from."

For example: Are they trying to manage an already-tight budget for the division? Are they under strict orders only to grant raises for knock-it-out-of-the-park performance? Once you understand their goals and constraints, you can adjust your pitch accordingly.

Leffler's advice recalls insights from Daniel Shapiro, founder and director of the Harvard International Negotiation Program, and author of "Negotiating the Nonnegotiable." Shapiro previously told Business Insider that it can be helpful to play the role of your boss while a friend or colleague plays you.

The idea is to think and feel how your boss might be thinking and feeling — and to then tailor your strategy so it really resonates with them.

Remember, too, Leffler said: You can negotiate for outcomes other than financial ones. "Compensation is whatever these things mean to you," Leffler said. It can be flexible hours, extra vacation time, equity, or bonus pay. Figure out what exactly you want (and what your boss might be most likely to concede).

Leffler's most important piece of wisdom? "Practice, practice, practice your pitch before walking in." She'd never advocate going in cold.

Leffler said, "You want to take all these steps in advance to really set yourself up for success."

Original author: Shana Lebowitz

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Oct
21

The CEO of Silicon Valley DNA testing startup 23andMe shares the health product she hopes to sell next

Anne Wojcicki, the CEO and founder of popular Silicon Valley gene testing company 23andMe, doesn't feel like the company is currently offering what she called a "complete product."

That's because the current gene testing kit — which includes health screenings for some of the genes involved in Alzheimer's, Parkinson's, and breast cancer — does not include a test that looks at how you process medications including those for depression.

Those DNA tests, which assess genes involved in the break down of antidepressants in the body, are currently being offered by psychiatrists and Albertsons pharmacists in three major cities at a hefty price tag of $750. Just last month, another Silicon Valley genetics testing startup called Color Genomics began offering the test as part of its $250 kits.

And on Tuesday at a conference organized by Rock Health, one of Silicon Valley's premier health-tech funding groups, Wojcicki said she hoped her company could include that kind of test in its product lineup soon.

But many scientists feel the tests don't offer a clear benefit to people and in some cases are not worth the money. Among other issues, the tests may give conflicting results to the same patient for the same medication and don't tell providers which specific medication is best, according to experts.

Lydia Ramsey/Business Insider In the early days of 23andMe, the company included a test for depression medications in its lineup of health offerings, Wojcicki said. But in 2013, the Food and Drug Administration forced the company to stop selling those products and get federal approval on the grounds that the tests could be misinterpreted as health advice. The company was allowed to continue selling the genealogy component of its kit, which looks at ancestry.

Last year, the FDA gave the company the green light to again sell some of its health screenings. On the heels of that decision, 23andMe rolled out a limited selection of some of its original products. The most recent addition, unveiled in March, is a test for some of the genes involved in the risk of developing breast cancer, also known as BRCA genes.

Now, the company is only missing one of those original health products, Wojcicki said: a test for depression medications, also called pharmacogenomics.

"The only one we don't have back yet is pharmacogenomics. We used to have that and we'd like to have that one come back," Wojcicki said on Tuesday at a panel discussion at the Rock Health Summit in San Francisco.

"When we can bring pharmacogenomics back, then we have a complete product back," she said.

It remains to be seen how the company would roll out such a test. Because 23andMe sells its tests directly to people (they can be purchased online and at a selection of drug stores), it would need to get FDA approval before selling an additional health product. The test could be incorporated into the existing health lineup, which currently includes tests for Alzheimer's, Parkinson's, and breast cancer for $199, or it could be sold as a stand-alone test.

Color Genomics chose to incorporate its new pharmacogenomics product into its existing $250 test. Unlike 23andMe, which sells its services directly to consumers, Color requires people to order their tests through a medical provider. In addition, the company mandates talking with a professional genetics counselor and a clinical pharmacist to avoid potentially dangerous misinterpretations of the results.

Genomind and Assurex, the two companies who offer a standalone pharmacogenomics product, sell the test through psychiatrists and some pharmacists for $750.

Wojcicki did not provide further details on how much the test — should the company ultimately choose to offer it — would cost or when it would be available. A company representative also declined to offer Business Insider more information about the test. But Wojcicki said she saw the pharmacogenomics service as part of the company's overall mission to help empower customers with more data about themselves and prevent negative health outcomes when possible.

"I think one thing genetics can do is help prevent a lot of early deaths," Wojcicki said.

Original author: Erin Brodwin

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Oct
21

Everyone wants to work at Google — but we found out how 15 ex-Googlers knew it was time to quit

Former position at Google: Software developer

Why he left: Breisacher was one of about a dozen Googlers who left the company in April to protest Google's controversial collaboration in which it provides the US Department of Defense with artificial-intelligence technology.

After thousands of employees signed a petition, Google announced it would cease work on the project next year.

"This is obviously a big deal, and it's very encouraging, but this only happened after months and months of people signing petitions and [internal debate] and people quitting," Breisacher told Business Insider.

Breisacher said his decision to leave was also influenced by Google's sponsorship of a conservative political conference and its failure to act decisively after YouTube videos related to LGBT issues were flagged as inappropriate on the site.

"When I started, Google had a reputation as a pro-gay, pro-trans company," Breisacher, who is gay, told Business Insider. "I guess I'm disillusioned. I know that Google is a for-profit company and you shouldn't expect it to do things purely for the good of the world. But in the past, we would expect leaders to listen to the employees and to think carefully about issues and not to cross certain lines.

"Things have changed at Google."

Original author: Mark Abadi

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Oct
20

1Mby1M Virtual Accelerator Investor Forum: With Ankit Jain of Gradient Ventures (Part 2) - Sramana Mitra

Sramana Mitra: Double-click down for me on your definition of early stage. You said check size is from $1 million to $10 million. What is your definition of early stage? What does an AI startup need...

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Original author: Sramana Mitra

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Jun
27

Startups Weekly: US visa freeze is latest reason to build remote-first

Silicon Valley is in the midst of a health craze, and it is being driven by “Eastern” medicine.

It’s been a record year for US medical investing, but investors in Beijing and Shanghai are now increasingly leading the largest deals for US life science and biotech companies. In fact, Chinese venture firms have invested more this year into life science and biotech in the US than they have back home, providing financing for over 300 US-based companies, per Pitchbook. That’s the story at Viela Bio, a Maryland-based company exploring treatments for inflammation and autoimmune diseases, which raised a $250 million Series A led by three Chinese firms.

Chinese capital’s newfound appetite also flows into the mainland. Business is booming for Chinese medical startups, who are also seeing the strongest year of venture investment ever, with over one hundred companies receiving $4 billion in investment.

As Chinese investors continue to shift their strategies towards life science and biotech, China is emphatically positioning itself to be a leader in medical investing with a growing influence on the world’s future major health institutions.

Chinese VCs seek healthy returns

We like to talk about things we can interact with or be entertained by. And so as nine-figure checks flow in and out of China with stunning regularity, we fixate on the internet giants, the gaming leaders or the latest media platform backed by Tencent or Alibaba.

However, if we follow the money, it’s clear that the top venture firms in China have actually been turning their focus towards the country’s deficient health system.

A clear leader in China’s strategy shift has been Sequoia Capital China, one of the country’s most heralded venture firms tied to multiple billion-dollar IPOs just this year.

Historically, Sequoia didn’t have much interest in the medical sector.  Health was one of the firm’s smallest investment categories, and it participated in only three health-related deals from 2015-16, making up just 4% of its total investing activity. 

Recently, however, life sciences have piqued Sequoia’s fascination, confirms a spokesperson with the firm.  Sequoia dove into six health-related deals in 2017 and has already participated in 14 in 2018 so far.  The firm now sits among the most active health investors in China and the medical sector has become its second biggest investment area, with life science and biotech companies accounting for nearly 30% of its investing activity in recent years.

Health-related investment data for 2015-18 compiled from Pitchbook, Crunchbase, and SEC Edgar

There’s no shortage of areas in need of transformation within Chinese medical care, and a wide range of strategies are being employed by China’s VCs. While some investors hope to address influenza, others are focused on innovative treatments for hypertension, diabetes and other chronic diseases.

For instance, according to the Chinese Journal of Cancer, in 2015, 36% of world’s lung cancer diagnoses came from China, yet the country’s cancer survival rate was 17% below the global average. Sequoia has set its sights on tackling China’s high rate of cancer and its low survival rate, with roughly 70% of its deals in the past two years focusing on cancer detection and treatment.

That is driven in part by investments like the firm’s $90 million Series A investment into Shanghai-based JW Therapeutics, a company developing innovative immunotherapy cancer treatments. The company is a quintessential example of how Chinese VCs are building the country’s next set of health startups using their international footprints and learnings from across the globe.

Founded as a joint-venture offshoot between US-based Juno Therapeutics and China’s WuXi AppTec, JW benefits from Juno’s experience as a top developer of cancer immunotherapy drugs, as well as WuXi’s expertise as one of the world’s leading contract research organizations, focusing on all aspects of the drug R&D and development cycle.

Specifically, JW is focused on the next-generation of cell-based immunotherapy cancer treatments using chimeric antigen receptor T-cell (CAR-T) technologies. (Yeah…I know…) For the WebMD warriors and the rest of us with a medical background that stopped at tenth-grade chemistry, CAR-T essentially looks to attack cancer cells by utilizing the body’s own immune system.

Past waves of biotech startups often focused on other immunologic treatments that used genetically-modified antibodies created in animals.  The antibodies would effectively act as “police,” identifying and attaching to “bad guy” targets in order to turn off or quiet down malignant cells.  CAR-T looks instead to modify the body’s native immune cells to attack and kill the bad guys directly.

Chinese VCs are investing in a wide range of innovative life science and biotech startups. (Photo by Eugeneonline via Getty Images)

The international and interdisciplinary pedigree of China’s new medical leaders not only applies to the organizations themselves but also to those running the show.

At the helm of JW sits James Li.  In a past life, the co-founder and CEO held stints as an executive heading up operations in China for the world’s biggest biopharmaceutical companies including Amgen and Merck.  Li was also once a partner at the Silicon Valley brand-name investor, Kleiner Perkins.

JW embodies the benefits that can come from importing insights and expertise, a practice that will come to define the companies leading the medical future as the country’s smartest capital increasingly finds its way overseas.

GV and Founders Fund look to keep the Valley competitive

Despite heavy investment by China’s leading VCs, Silicon Valley is doubling down in the US health sector.  (AFP PHOTO / POOL / JASON LEE)

Innovation in medicine transcends borders. Sickness and death are unfortunately universal, and groundbreaking discoveries in one country can save lives in the rest.

The boom in China’s life science industry has left valuations lofty and cross-border investment and import regulations in China have improved.

As such, Chinese venture firms are now increasingly searching for innovation abroad, looking to capitalize on expanding opportunities in the more mature US medical industry that can offer innovative technologies and advanced processes that can be brought back to the East.

In April, Qiming Venture Partners, another Chinese venture titan, closed a $120 million fund focused on early-stage US healthcare. Qiming has been ramping up its participation in the medical space, investing in 24 companies over the 2017-18 period.

New firms diving into the space hasn’t frightened the Bay Area’s notable investors, who have doubled down in the US medical space alongside their Chinese counterparts.

Partner directories for America’s most influential firms are increasingly populated with former doctors and medically-versed VCs who can find the best medical startups and have a growing influence on the flow of venture dollars in the US.

At the top of the list is Krishna Yeshwant, the GV (formerly Google Ventures) general partner leading the firm’s aggressive push into the medical industry.

Krishna Yeshwant (GV) at TechCrunch Disrupt NY 2017

A doctor by trade, Yeshwant’s interest runs the gamut of the medical spectrum, leading investments focusing on anything from real-time patient care insights to antibody and therapeutic technologies for cancer and neurodegenerative disorders.

Per data from Pitchbook and Crunchbase, Krishna has been GV’s most active partner over the past two years, participating in deals that total over a billion dollars in aggregate funding.

Backed by the efforts of Yeshwant and select others, the medical industry has become one of the most prominent investment areas for Google’s venture capital arm, driving roughly 30% of its investments in 2017 compared to just under 15% in 2015.

GV’s affinity for medical-investing has found renewed life, but life science is also part of the firm’s DNA.  Like many brand-name Valley investors, GV founder Bill Maris has long held a passion for the health startups.  After leaving GV in 2016, Maris launched his own fund, Section 32, focused specifically on biotech, healthcare and life sciences. 

In the same vein, life science and health investing has been part of the lifeblood for some major US funds including Founders Fund, which has consistently dedicated over 25% of its deployed capital to the space since at least 2015.

The tides may be changing, however, as the recent expansion of oversight for the Committee on Foreign Investment in the United States (CFIUS) may severely impact the flow of Chinese capital into areas of the US health sector. 

Under its extended purview, CFIUS will review – and possibly block – any investment or transaction involving a foreign entity related to the production, design or testing of technology that falls under a list of 27 critical industries, including biotech research and development.

The true implications of the expanded rules will depend on how aggressively and how often CFIUS exercises its power.  But a lengthy review process and the threat of regulatory blocks may significantly increase the burden on Chinese investors, effectively shutting off the Chinese money spigot.

Regardless of CFIUS, while China’s active presence in the US health markets hasn’t deterred Valley mainstays, with a severely broken health system and an improved investment environment backed by government support, China’s commitment to medical innovation is only getting stronger.

VCs target a disastrous health system

Deficiencies in China’s health sector has historically led to troublesome outcomes.  Now the government is jump-starting investment through supportive policy. (Photo by Alexander Tessmer / EyeEm via Getty Images)

They say successful startups identify real problems that need solving. Marred with inefficiencies, poor results, and compounding consumer frustration, China’s health industry has many

Outside of a wealthy few, citizens are forced to make often lengthy treks to overcrowded and understaffed hospitals in urban centers.  Reception areas exist only in concept, as any open space is quickly filled by hordes of the concerned, sick, and fearful settling in for wait times that can last multiple days. 

If and when patients are finally seen, they are frequently met by overworked or inexperienced medical staff, rushing to get people in and out in hopes of servicing the endless line behind them. 

Historically, when patients were diagnosed, treatment options were limited and ineffective, as import laws and affordability issues made many globally approved drugs unavailable.

As one would assume, poor detection and treatment have led to problematic outcomes. Heart disease, stroke, diabetes and chronic lung disease accounts for 80% of deaths in China, according to a recent report from the World Bank

Recurring issues of misconduct, deception and dishonesty have amplified the population’s mounting frustration.

After past cases of widespread sickness caused by improperly handled vaccinations, China’s vaccine crisis reached a breaking point earlier this year.  It was revealed that 250,000 children had been given defective and fallacious rabies vaccinations, a fact that inspectors had discovered months prior and swept under the rug.

Fracturing public trust around medical treatment has serious, potentially destabilizing effects. And with deficiencies permeating nearly all aspects of China’s health and medical infrastructure, there is a gaping set of opportunities for disruptive change.

In response to these issues, China’s government placed more emphasis on the search for medical innovation by rolling out policies that improve the chances of success for health startups, while reducing costs and risk for investors.

Billions of public investment flooded into the life science sector, and easier approval processes for patents, research grants, and generic drugs, suddenly made the prospect of building a life science or biotech company in China less daunting. 

For Chinese venture capitalists, on top of financial incentives and a higher-growth local medical sector, loosening of drug import laws opened up opportunities to improve China’s medical system through innovation abroad.

Liquidity has also improved due to swelling global interest in healthcare. Plus, the Hong Kong Stock Exchange recently announced changes to allow the listing of pre-revenue biotech companies.

The changes implemented across China’s major institutions have effectively provided Chinese health investors with a much broader opportunity set, faster growth companies, faster liquidity, and increased certainty, all at lower cost.

However, while the structural and regulatory changes in China’s healthcare system has led to more medical startups with more growth, it hasn’t necessarily driven quality.

US and Western investors haven’t taken the same cross-border approach as their peers in Beijing. From talking with those in the industry, the laxity of the Chinese system, and others, have made many US investors weary of investing in life science companies overseas.

And with the Valley similarly stepping up its focus on startups that sprout from the strong American university system, bubbling valuations have started to raise concern.

But with China dedicating more and more billions across the globe, the country is determined to patch the massive holes in its medical system and establish itself as the next leader in international health innovation.

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Oct
20

Nightmarish fragmentation and expensive phones: Here's how Google's big Android changes could play out (GOOG)

Google is making fundamental changes to the way Android works inside Europe, thanks to a $5 billion fine imposed by the European Union earlier this year.

Here's a summary of the changes, because it's complicated:

Phone makers that want to run Android on their devices will no longer be forced to exclusively install a bundle of Google apps (Chrome, Search) in order to access Google's Play app store, the most popular app store on Android. The downside is that Google will now charge phone makers licences for a package of its apps, including the Play app store, Gmail, YouTube, and Google Maps. It will charge separate licences for Search and Chrome. This means phone makers can choose to preinstall apps from Google as well as its competitors. They are also free to create non-compatible "forked" versions of Android and still have access to Google apps, where previously non-compatible forks were locked out of the Play app store. You can read Google's explanation here.

Until these changes actually come into effect, it is hard to know precisely what the outcome for consumers will be, but here's a walkthrough of a few possible scenarios.

Android phones become more expensive inside Europe

The Samsung Note 9. Hollis Johnson/Business Insider

When the EU first hit Google with a fine, legal experts last year warned that Android phones might become pricier as a result.

To understand why Android phones might become pricier as a result of this fine, it's key to remember that search advertising is Google's primary moneymaker on desktop and mobile. And increasingly, mobile is becoming more important thanks to the fact we're all buried in our smartphones.

Android has remained free because Google, by demanding phone makers preinstall Google Search, has ensured it can keep making big money from search ads on mobile. Thanks to the EU, that near-guaranteed source of revenue is under threat and Google has had to come up with another way to ensure it can make money from Android.

Charging for Android itself doesn't make sense — it's in Google's interests to make the OS as widely available as possible. Cue licensing agreements for its more popular apps.

Phone manufacturers may realise that their customers still want out-of-the-box access to Google services such as Maps and Search, and accordingly cough up for the new licences. And those costs may be passed to consumers, who will suddenly see the price of Android phones rise.

But this is dependent on a few things. One is how many phone makers decide to license Google apps, rather than pre-install rival services. Another is that Google may effectively cancel out licensing payments by paying phone makers to place Search and Chrome prominently on their homescreens. It'll cost Google a little more money, but the guaranteed income from search ads may be worth it.

The Android ecosystem's fragmentation problem gets worse

Google's Pixel 3 is the company's answer to fragmentation frustrations. Hollis Johnson/Business Insider

When you buy an iPhone, you know exactly what you're getting. That's not such a guarantee when you're shopping around for Android phones, thanks to the fact that manufacturers control the timing of operating system updates.

Fragmentation is an ongoing headache for Google. This refers to the fact that lots of different phones run on different versions of Android. This is bad for app developers and for security. Fragmentation is why cool new apps tend to hit the iPhone before they get to Android.

The Developer Alliance, which has been on Google's side throughout its EU ordeal, wrote on Tuesday that the "specter of fragmentation is back." That's thanks to Google deciding to allow non-compatible Android forks as a result of the EU fine.

Android forks are popular, especially with people who crave the freedom to tinker with their phones. Non-compatible Android forks are locked out from Google services, so they're also popular with anti-corporate types. Amazon created an Android fork, FireOS, to run on its Fire Tablets and other hardware, but Google essentially froze that system out of smartphones. Unfortunately, forks also mean Android doesn't exactly look like a consistent experience.

According to the alliance: "There is a risk that diverging versions of Android will lead to devices where apps cost more to develop and may not work for all users. Google's efforts to limit fragmentation have led to a better platform for users, developers, and phone makers. The Developers Alliance hopes that clear labelling helps to reduce the potential for user confusion between compatible and incompatible Android devices."

Original author: Shona Ghosh

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Oct
20

The hits just keep coming for Facebook — here's why things could continue to get worse (FB)

Facebook's bad year seems to keep getting worse.

Brian Wieser doesn't expect it to improve anytime soon, and thinks that's a good reason to sell the company's stock.

"We continue to see these issues as representative of systemic problems impacting the company," Wieser, a financial analyst who covers Facebook for Pivotal Research Group, said in a research note on Wednesday. He continued: "We're not doubting they [can] be fixed, but the fact that problems keep emerging reinforces our view that the company is not as in control of its business as it needs to be."

Facebook has been pummeled by a seemingly endless string of fiascos, scandals, and public-relations nightmares this year. Just on Wednesday, the Wall Street Journal reported that Facebook has been spotty about taking down pages from fake veterans groups, while USA Today reported that Facebook was removing ads that mentioned African-Americans and other minority groups, citing them as "political," when the ads weren't actually promoting political causes or candidates.

Meanwhile, in the last week, Facebook acknowledged that a security breach was worse than it had disclosed before, at least in terms of the data that was compromised, noted Wieser. It was also hit with a claim that it knowingly defrauded advertisers about the amount of time users were spending watching videos on its site.

Investors should expect more to come, Wieser suggested in his note. Facebook simply hasn't put in place systems that might anticipate problems and correct them before they came to light or caused damage to the company or its users, he said.

"The underlying problem that we see is that the company has been so focused on growth at any cost that it has failed to sufficiently invest in [such] processes," he said.

Facebook's clean-up effort will come at a price

Facebook has started to try to clean up and better police its site. It's tweaked the way its News Feed works to emphasize posts from other users, rather than those from organizations. It's started to label political ads and force the backers of such ads to be identified. And it's in the process of doubling its team of content moderators to 20,000 people.

Those steps are likely going to come with significant costs for the company, Wieser said. Those costs will likely weigh down its future earnings, but still may not be the end of its misery.

"As problems are fixed, costs will rise, possibly faster than the company has anticipated (if only because the company is slow to acknowledge problems requiring fixing)," he said. "And then other problems with more material commercial consequences might still come to light."

But Facebook faces an even bigger threat than having to spend more money to clean up its messes, Wieser said. The growth in the digital advertising market is likely to slow, putting a crimp on it longer term prospects.

In his note, Wieser's reiterated his $131 price target for Facebook's stock. The company's shares closed regular trading Wednesday at $159.42, down 64 cents or 0.4%. The stock is down 10% in the year to date.

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Original author: Troy Wolverton

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