Oct
03

Palo Alto Networks to acquire RedLock for $173 M to beef up cloud security

Palo Alto Networks launched in 2005 in the age of firewalls. As we all know by now, the enterprise expanded beyond the cozy confines of a firewall long ago and vendors like Palo Alto have moved to securing data in the cloud now too. To that end, the company announced its intent to pay $173 million for RedLock today, an early-stage startup that helps companies make sure their cloud instances are locked down and secure.

The cloud vendors take responsibility for securing their own infrastructure, and for the most part the major vendors have done a decent job. What they can’t do is save their customers from themselves and that’s where a company like RedLock comes in.

As we’ve seen time and again, data has been exposed in cloud storage services like Amazon S3, not through any fault of Amazon itself, but because a faulty configuration has left the data exposed to the open internet. RedLock watches configurations like this and warns companies when something looks amiss.

When the company emerged from stealth just a year ago, Varun Badhwar, company founder and CEO told TechCrunch that this is part of Amazon’s shared responsibility model. “They have diagrams where they have responsibility to secure physical infrastructure, but ultimately it’s the customer’s responsibility to secure the content, applications and firewall settings,” Badhwar told TechCrunch last year.

Badhwar speaking in a video interview about the acquisition says they have been focused on helping developers build cloud applications safely and securely, whether that’s Amazon Web Services, Microsoft Azure or Google Cloud Platform. “We think about [RedLock] as guardrails or as bumper lanes in a bowling alley and just not letting somebody get that gutter ball and from a security standpoint, just making sure we don’t deviate from the best practices,” he explained.

“We built a technology platform that’s entirely cloud-based and very quick time to value since customers can just turn it on through API’s, and we love to shine the light and show our customers how to safely move into public cloud,” he added.

The acquisition will also fit nicely with Evident.io, a cloud infrastructure security startup, the company acquired in March for $300 million. Badhwar believes that customers will benefit from Evident’s compliance capabilities being combined with Red Lock’s analytics capabilities to provide a more complete cloud security solution.

RedLock launched in 2015 and has raised $12 million. The $173 million purchase would appear to be a great return for the investors who put their faith in the startup.

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Oct
03

Red Hat Stumbles, Yet Again - Sramana Mitra

Linux provider Red Hat (NYSE: RHT) continues to deliver disappointing results. Despite missing expectations, the company does not appear worried. It believes that it has hit the “bottom” and things...

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Original author: MitraSramana

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Jan
17

Eaze’s struggles reflect falling VC interest in cannabis startups

GoodTime, the algorithmically enhanced interview process management platform, has raised $5 million in a new round of funding led by Bullpen Capital.

The company uses natural language processing to link interview candidates with the right interviewers inside an organization. The idea is to make the hiring process run more smoothly for large organizations and give overworked human resources staffers a new organizational tool in their toolbox to build better staffing processes.

To do this, Ahryun Moon, Jasper Sone and Peter Lee, the co-founders of GoodTime, have built a tool that uses the calendar as its organizing principle. The idea is that the sooner interviews can be booked with the right people, the better it is for an organization.

Staffing is about more than just setting up an interview, though, so GoodTime also factors in relevant information about both an applicant and an interviewer, including data like gender, ethnicity and relevant university and previous work-history information.

Recruiting coordinators can manage the entire process and make it as frictionless as possible for companies — and in this competitive hiring environment, companies may run the risk of losing out if they can’t pull the trigger on a potential applicant quickly enough.

It’s a problem that GoodTime’s chief executive, Moon, knows all too well. As a former recruiting coordinator at MuleSoft, Airbnb and Dropbox, Moon is well-versed in the problems of recruiting professionals.

She even managed to convince her former employers at Airbnb and Dropbox to adopt the new platform. Those companies have seen their applicants confirm interviews within three hours by using the platform and have seen their time-to-hire rates reduced by 40 percent, according to a statement from the company.

GoodTime, which was seed-funded last year with a $2 million investment from Walden Ventures and Big Basin Capital, managed to attract the education and staffing-focused investment firms GSV Accelerate and Array.vc to its latest round. GoodTime is also a graduate of the Alchemist Accelerator program. 

Based in San Francisco, GoodTime currently has 18 employees on staff and has reached profitability on the strength of its existing customers.

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Oct
03

1Mby1M Virtual Accelerator Investor Forum: With SC Moatti of Mighty Capital (Part 3) - Sramana Mitra

Sramana Mitra: Is this the traditional way that you get involved in a company? Do you have people in your community who go out and raise funding and bring you into the cap table? Or are VCs also...

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Original author: Sramana Mitra

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Oct
03

Tim Cook took a subtle swipe at Google over how Apple does business in China

Tim Cook has stressed that Apple does not bend the way it does business in China — and it could be seen as a subtle swipe at Google.

Cook did not mention Google in an interview with Vice on Tuesday, but said Apple protects user data in China in exactly the same as anywhere else in the world.

The Apple CEO said his view of privacy as a human right applied to how the company does business in China. "Encryption for us is the same in every country in the world," he said.

"We don't design encryption for the US and do it differently everywhere else, it's the same. And so to send a message in China, it's encrypted. I can't produce the content, I can't produce it in the United States either. If you lock your phone in China I can't open it," added Cook.

Cook said that while Apple complied with laws that mean the data of Chinese citizens have to be stored in China, that data is under lock and key. "We worked with a Chinese company to provide iCloud, but the keys [...] are ours," he said.

Cook added that the fact data is stored in China doesn't make it easier for the Chinese government to access it. "I wouldn't get caught up in 'where's the location of it,' I mean we have servers located in many different countries in the world. They're not easier to get data from being in one country versus the next."

"The key question is how does the encryption process work, and who owns the keys — if anyone. In most cases for us, you and the receiver [of a message] own the keys."

The comments are in contrast to Google, which is reportedly preparing to launch a search engine in China that could be used as "spying tools" by Chinese officials.

In September, The Intercept obtained an internal memo that said Google's custom-built Chinese search engine would require users to log in, and would harvest data about their location and search history with a Chinese partner that would have "unilateral access" to the data.

While Cook did not mention Google or Dragonfly in his interview, setting a marker for user privacy in China sent a message, especially given the harsh words he had for data collectors earlier in the interview.

"The narrative that some companies will try to get you to believe is 'I've got to take all of your data to make my service better.' Well, don't believe that. Whoever's telling you that - it's a bunch of bonk," said Cook, although he did not elaborate on who these companies might be.

Original author: Isobel Asher Hamilton

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Oct
03

Alan partners with Kry’s Livi for telemedicine appointments

French startup Alan is expanding beyond health insurance by offering telemedicine appointments directly from Alan . The company is partnering with Livi, Kry’s French subsidiary.

While a handful of European countries already let you talk to a doctor using video calls, France’s national health system just started allowing remote appointments.

If you need to renew your prescription or your doctor already knows you quite well, chances are you don’t need to see your doctor in person every single time. With remote appointements, you can save time and talk to a doctor more quickly. This is particularly useful if you live in the countryside.

Kry is already a well-known startup when it comes to telehealth. The company raised a $66 million Series B round back in July and operates in three countries — Sweden, Norway and Spain. Kry is building its own team of practitioners that you can find on the platform. The company created a new brand for the French market and started operating a few weeks ago.

Alan customers will be able to talk to a doctor on Livi and get reimbursed by the national health system and Alan (Update: Alan reimburses everything). Ideally, you’ll be able to talk to a doctor within a few minutes between 7 AM and 11 PM.

So Alan isn’t going to handle remote appointments directly, but the startup is going to make it as easy as possible to talk to a doctor.

French startup Doctolib is leveraging its own community of practitioners to compete with Livi and other newcomers. In a couple of months, Doctolib users will also be able to book a remote appointment on Doctolib.

Those are two different approaches — an integrated user experience compared to a marketplace. Both provide advantages and disadvantages. But it’s good to see that Alan is on top of recent regulatory changes to improve the user experience.

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Oct
03

10 things in tech you need to know today

Amazon announced it's raising its minimum wage. Reuters

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

Amazon announced it is raising its minimum wage to $15. The company will raise its minimum wage from November 1, with CEO Jeff Bezos saying the company had "listened to our critics." Facebook is warning its first business customers that hackers may have obtained their internal data, a stunning security lapse for a business-focused product. Some of the people potentially impacted by Facebooks latest massive security breach are the earliest business customers of its corporate chat app Workplace, according to emails viewed by Business Insider. Facebook says it hasn't seen any evidence that hackers used stolen keys to access users' Tinder, Spotify, or Instagram accounts. Facebook says it can't find any evidence that the hackers who compromised 50 million users' accounts last week also used stolen "keys" to break into victims' accounts on other apps and services. Apple CEO Tim Cook said that it's a "challenge" getting Congress up to speed on the need for new privacy regulations. Cook touted Apple's restraint in terms of collecting information on its users in a new interview, and said he couldn't imagine one of his successors steering the company in a different direction when it comes to user privacy. Microsoft announced three new premium Surface computers and a pair of headphones. Microsoft unveiled a four-pack of new Surface gadgets at an event in New York City on Tuesday. Bernie Sanders praised Amazon CEO Jeff Bezos for raising the company's minimum wage. The Democratic senator has been an outspoken critic of Amazon and Bezos in the past, but on Tuesday he said he wants to give "credit where credit is due." Tim Cook says Apple banned Alex Jones because it curates content, not because of politics. Cook denied that the decision was coordinated with other tech firms, some of which removed Jones from their services soon after Apple did. Ex-Yahoo CEO Marissa Mayer wants to turn a funeral home where she held wild Halloween parties into a private women's club. Residents in the area were not happy when Mayer threw the parties, and some are not any happier with the tech executive's newest idea. A new shortcut for iPhones can automatically record the police. A big new feature for iPhones this year is Shortcuts, an app that lets you write scripts for the iPhone, and one widely shared shortcut is called Police, which records police interactions and texts a predetermined contact that you've been pulled over. Amazon quietly ended its year-old program that was supposed to be like a better vending machine. Amazon announced Instant Pickup in August 2017, offering instant purchasing much like a vending machine, but has now quietly ended the program.

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

Original author: Isobel Asher Hamilton

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Oct
03

Tim Cook says Apple banned Alex Jones because it curates content — not because of politics (AAPL)

Apple's decision to ban the conservative conspiracy theorist Alex Jones had everything to do with its longstanding belief that it should offer users curated services and nothing to do with either politics or acting in coordination with other tech companies, CEO Tim Cook said on Tuesday.

In an interview with Vice News Tonight, Cook declined to get into the specific reason why Apple decided in August to remove Jones' podcasts from its Podcast app and, a month later, his Infowars app from its app store. But he said the decision came out of the company's practice of reviewing, selecting, and editing the kinds of apps and other material available through its stores and apps.

"What users want from us and what we've always provided them is a curated platform," Cook said.

Apple CEO Tim Cook denied the decision to remove Jones had anything to do with politics. Richard Drew/AP He denied that the decision had anything to do with Apple's political biases.

Because Apple and other tech giants are based in left-leaning Silicon Valley, conservatives have charged that the companies are prejudiced against them.

In the wake of Jones' ouster, President Donald Trump and other conservative politicians have called for government regulators to scrutinize tech companies for not acting as neutral services.

Despite Apple's ban of Jones, its users can still find material and apps found on its services that come from all over the political spectrum, Cook said.

"We don't take a political stand," he said. "We're not leaning one way or the other."

Cook also refuted the notion that Apple was working in coordination with other tech companies when it decided to ban Jones.

Right after the iPhone maker removed most of Jones' podcasts from its app, Facebook, Spotify, and YouTube also removed his material from their services. But neither he nor, as far as he knows, has anyone else at Apple talked with any of those other companies about Jones, he said.

"​We make our decisions independently and I think that's important," Cook said.

Original author: Troy Wolverton

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Oct
03

FEMA will send a test 'Presidential Alert' to your phone Wednesday, and you can’t turn it off

Don't be alarmed when your phone buzzes incessantly with an emergency alert from the president Wednesday afternoon — it's only a test.

But unlike the emergency alerts and AMBER alerts that you can toggle off on your smartphone, you won't be able to switch off the notification for this "presidential alert," which is designed to be used "in the event of a national emergency," the Federal Emergency Management Agency says.

The special Presidential Alert will be pretty similar to any emergency alert you've gotten before. Your phone will vibrate and emit a loud abrasive tone that's likely to freak you out if you're not anticipating it. A message will also appear on your screen that says, "THIS IS A TEST of the National Wireless Emergency Alert System. No action is needed."

That means you might want to prepare yourself now for the flurry of incessant buzzing and loud alarming sounds that will take over your office Wednesday. Anyone with a wireless cell phone will receive a test emergency message Wednesday anytime between 2:18 p.m. Eastern and the half-hour window that follows.

This will be the first time ever the government is testing the national emergency alert system. The test was originally scheduled for Sept. 20, but was postponed so FEMA could focus on responding to Hurricane Florence.

FEMA first created the alert system to adhere to a law passed in 2016 under former President Barack Obama, which gives the president the ability to send out nationwide alerts addressing public safety issues.

Original author: Paige Leskin

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Oct
03

If you have an Android phone, Microsoft just made Windows 10 your new best friend (MSFT, GOOG, GOOGL, AAPL)

In addition to a blizzard of new Surface hardware, Microsoft also announced at an event on Tuesday that it has started to roll out the next big update to Windows 10.

The October 2018 update, as it's called, has one big, headlining feature: A new app, called Your Phone, that lets you read your Android phone's text messages and view your Android phone's photos from your Windows 10 PC. And it works over WiFi, so you don't need to have your phone plugged into your computer to make it happen. The big caveat: Your phone needs to be running Android 7.0 or up.

If you have an iPhone, you lose some of the benefits of the Your Phone app. For iPhone users, the only supported feature at the moment is the ability to send a webpage link from your PC to your phone. Still handy, but less so.

But wait, there's more: Microsoft also used its event to tease another forthcoming new feature. At some point, you'll be able to mirror your Android phone to your PC's desktop, so you can use any app without leaving your keyboard.

Microsoft Windows Timeline can tell you what you were working on, when. Now, it's coming to Android phones. Microsoft

And finally, Android users are getting one more superpower with the new Windows update, beyond the Your Phone app.

Earlier this year, Microsoft unveiled Timeline, a Windows 10 feature that kept track of which files and webpages you were accessing, and when, so you could figuratively trace your digital steps and find what you were looking for. Now, Android users can install the Microsoft Launcher app, and access that same Timeline, so you can find the website or Office 365 file you wanted. Microsoft says that it's coming to iPhone at some point soon, as well.

Oh, one more thing. This isn't strictly related to the phone stuff, but the new update also adds a so-called Cloud Clipboard that lets you copy text or images from one PC, and paste it on another. Plus, it keeps a history across devices of everything you've copied. It's a little thing, but probably useful to many.

Microsoft is playing nice with Android and iPhone

The texting features are very similar to one of the best parts of the Apple ecosystem: If you own a Mac and an iPhone, your texts flow freely between them — you can start a conversation on your laptop and finish it on your phone, or vice versa. A feature called AirDrop, too, makes it easy to share photos and other files between all Apple devices.

Google has tried to close that particular gap with the recent introduction of an Android messages app for the web browser. However, what Microsoft is offering Android users is something built right into the operating system, so you can click and drag photos straight from your phone into an editing or social media app.

All in all, it's a reflection of Microsoft's recognition that, without a viable phone platform of its own, it needs to integrate tightly with the iPhones and Androids of today to stay relevant. While it's clear that there's a lot of work left to do, this is a promising first step.

How to get the new Windows 10 update

Generally speaking, if you have automatic updates installed, the Windows 10 October 2018 update will start going out in waves on October 9th. If you're dying to have it now, though, you can go into your PC's settings and have it check for updates, per the instructions from Microsoft here.

Original author: Matt Weinberger

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Oct
03

Apple CEO Tim Cook says that it's a 'challenge' getting Congress up to speed on the need for new privacy regulations (AAPL)

Apple CEO Tim Cook is reiterating his call for new government regulations to protect consumer privacy from tech companies.

The amount of information about individual users stored online and on their phones is enormous, Cook said in an interview with Vice News Tonight on Tuesday. The tech industry hasn't done a good job of respecting and protecting that data, he said.

"I'm not a pro-regulation kind of person, I believe in the free market deeply," Cook said. But, he added, "when the free market doesn't produce a result that's great for society, you have to ask yourself: what do we need to do? And I think some level of government regulation is important to come out of that."

Despite advocating for new regulations, Cook, who has repeatedly advocated new privacy rules this year, expressed doubt whether Congress is as up to speed on technology as it would need to be to craft beneficial legislation in the area. The technology "literacy" of legislators and their staffs is "a challenge," he said.

"There is a need to work with Congress and the staff to make sure that we do our jobs of helping them kind of come up to speed on ... on what's possible," he said.

Consumer advocates, policy makers, and tech industry figures have been increasingly discussing the need for new privacy regulations, particularly in the wake of Facebook's Cambridge Analytica scandal this spring. In that incident, some 87 million customer records were leaked to a data analysis firm linked to President Donald Trump. More recently, Facebook acknowledged that at least 50 million accounts were compromised thanks to a security hole.

Apple and Cook have repeatedly tried to distinguish the company from its Big Tech peers such as Facebook and Google. Unlike those companies, Apple's business isn't built around advertising revenue or collecting scads of data on its users to target them with ads. Apple actually tries to limit the amount of information it collects on users, Cook said.

"The way we go into product design, we challenge ourselves to collect as little as possible," he said. He continued: "You are not our product."

Some in the industry have asserted that Apple's restraint in data collection will ultimately hurt the company's ability to compete with its rivals, particularly in areas such as artificial intelligence and machine learning. Those technologies tend to improve as they get access to more data. An intelligent assistant, for example, could potentially offer more useful suggestions about what restaurant a user might like if it had more information about what restaurants they've liked in the past.

But Cook disputed the notion that Apple itself needs to collect more data on users to improve it services, suggesting instead that users' devices could collect it instead — without sharing it with the company.

"The narrative that some companies will try to get you to believe is 'I've got to take all of your data to make my service better.' Well, don't believe that," he said. "Whoever's telling you that - it's a bunch of bonk. We try to keep as much of your information on that device as possible because we want that device to know, because you count on the device to be smart for you."

Some consumer advocates have raised the concern that while Apple may respect user privacy now, things could change under Cook's successors. Users' iPhones collect plenty of data and the company at some point in the future could choose to start collecting it for itself.

But Cook disputed that notion too, saying it would go against Apple's culture.

"I think the next person [who runs Apple], I don't want to commit them, but I can't imagine it. It's not in my imagination that somebody would just say 'oh, time to change,'" he said. I don't see it."

Original author: Troy Wolverton

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Jun
24

Cloud Stocks: DocuSign Soars to Record Highs - Sramana Mitra

The Surface Pro 6 was the headliner.

This is the latest iteration of Microsoft's flagship line of laptop/tablet hybrids.

In terms of design, it's not much different from the current-generation Surface Pro, currently on store shelves. The Surface Pro 6 does, however, sport a modern quad-core Intel processor, which Microsoft says makes it 1.5 times faster than its predecessor.

In terms of aesthetics, you can get the Surface Pro 6 in a new, sleek matte black finish — though that option only comes with certain higher-end models, which will run you more than the $899 starting price.

In our hands-on time with the Surface Pro 6, we found that Microsoft didn't mess much with its own winning formula. However, it's worth noting the somewhat puzzling absence of a USB-C port, which the tech-savvy might find disappointing.

Oh, and the matte black finish looks extremely good in real life.

Original author: Antonio Villas-Boas and Matt Weinberger

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Oct
02

Facebook says it hasn't seen any evidence that the hackers used stolen keys to access users' Tinder, Spotify, or Instagram accounts (FB)

Facebook says it can't find any evidence that the hackers who compromised 50 million users' accounts on the social network also used stolen "keys" to break into victims' accounts on other apps and services.

Last week, the Silicon Valley tech firm revealed it had been targeted in a massive hack that saw an as-yet-unidentified attacker, or attackers, gain access to tens of millions of users' accounts by exploiting vulnerabilities in its software.

It subsequently acknowledged that this attack also meant that, in theory, the hacker could have stolen "access tokens" to get into users' accounts on other apps that use the Facebook Login service, including Tinder, Airbnb, Spotify, and more.

In a statement published on Tuesday, Facebook exec Guy Rosen said the company hasn't found any evidence this has actually happened. It will be a partial relief to the victims of the attack, as well as the companies that rely on Facebook Login and faced having to conduct their own investigations.

But Facebook's update provides no more information on who is behind their attack, what their motivation was, and what user data they took. "We're sorry that this attack happened — and we'll continue to update people as we find out more," Rosen wrote.

The news of the hack comes as Facebook attempts to recover from a string of bruising scandals, from Cambridge Analytica to the spread of Russian misinformation and propaganda on its platform. Facebook now faces multiple investigations over the breach, including from multiple US Congressional committees and the Irish privacy watchdog.

Original author: Rob Price

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Sep
12

You might only get a raise if you’re a top performer

In what looks like a European first, the London-based early-stage venture capital firm Balderton Capital is announcing it has closed a new $145 million “secondary” fund dedicated to buying equity stakes from early shareholders in European-founded “high growth, scale-up” technology companies.

Dubbed “Balderton Liquidity I,” the new fund will invest in European growth-stage companies through the mechanism of purchasing shares from existing, early shareholders who want to liquidate some or all of their shares “pre-exit.”

“Balderton will take minority stakes, between regular fund-raising rounds, making it possible for early shareholders — including angels, seed funds, current and former founders and employees — to realise early returns, reinvest capital in the ecosystem, or reward founders and early employees,” explains the firm.

The move essentially formalises the secondary share dealing that already happens — typically as part of a Series C or other later rounds — which often sees founders take some money off the table so they can improve their own financial situation and won’t be tempted to sell their company too soon, but also gives early investors a way out so they can begin the cycle all over again. Otherwise it can literally take five to 10 years before a liquidity event happens, either via IPO or through a private acquisition, if it happens at all.

“The bigger picture is there are lots of shareholders who either want or need or have to take liquidity at some point,” Balderton partner Daniel Waterhouse tells me on a call. “Founders are one part of that… but I think the majority of this fund is more targeted at other shareholders — business angels, seed funds, maybe employees who left, founders who left — who want to reinvest their money, want to solve a personal financial issue, want to de-risk their personal balance sheets, etc. So we’re not obsessed with founders in this fund, we’re obsessed with many different types of early shareholders, which for many different reasons would like to get liquidity before the grand exit event.”

Waterhouse says that one of the big drivers for doing this now is that Balderton’s analysis suggests there is “a critical mass of interesting companies” that are in the growth stage: “businesses that have got a scalable commercial engine” and a proven commercial model. This critical mass has happened only over the last two years, which is why — unlike in Silicon Valley — we haven’t yet seen a fund of this kind launch in Europe.

“We think there’s now about 500 companies in Europe that have raised over $20 million. That doesn’t mean they are all great companies but it’s an interesting, crude data point in terms of the scale they’ve got to. As a consequence, within that 500 we expect there to be quite a lot of interesting companies for this fund to help and we obviously have a pretty good lens on the market. Through our early-stage investing, and working with companies from the early-stage through to exit, and then obviously staying in touch with companies we don’t necessarily invest in, we have a pretty good sense of that from a bottom up perspective on how many opportunities are out there.”

He explained that there are three aspects behind the secondary funding strategy. First is that by investing via secondary funding, more companies will gain access to the “Balderton platform,” which includes an extensive executive and CEO network and support with recruitment and marketing. Secondly, it is good for the ecosystem as it will not only help relieve financial pressure from founders so they can “shoot for the next growth point” but will also let business angels cash out and recycle their money by investing in new startups. Thirdly, and perhaps most importantly, Balderton thinks it represents a good investment opportunity for the firm and its LPs as secondary liquidity is “underserved as a market.”

(Separately, one London VC I spoke to said a dedicated secondary fund in Europe made sense except in one scenario: that European valuations see a price correction sometime in the future promoted by the current trajectory of available funding slowing down, which he believes will eventually happen. “Funds are 10 years so they just have to get out in time,” is how said VC framed it.)

To that end, Waterhouse says Balderton is looking to do around 15-20 investments out of the fund, but in some instances may start slowly and then buy more shares in the same company at an even later stage. It will be managed by Waterhouse with support from investment principal Laura Connell, who recently joined the VC firm.

Struggling to see many downsides to the new fund — which by virtue of being later-stage is less risky and will likely command a discount on secondary shares it does purchase — I ask if perhaps Balderton is being a little opportunistic in bringing a reasonably large amount of institutional capital to the secondary market.

“No, I don’t think so,” he replies. “What we’ve seen in our portfolio is [that] the point in time when someone is looking for liquidity isn’t set on the calendar alongside when companies do fund raising. In particular as a company gets more mature, the gap between fund raises can stretch out because the businesses are more close to profitability. And so it’s not deterministic. We want to just be there to help people who are actually looking to sell out of cycle in those points of time and at the moment have very little options. If someone wants to wait, they’ll wait.”

Finally, I was curious to know how it might feel the first time Balderton buys a substantial amount of secondary shares in a company that it previously turned its nose down at during the Series A stage. After pointing out that companies usually look very different at Series A compared to later on in their existence — and that Balderton can’t and doesn’t invest in every promising company — Waterhouse replies diplomatically: “Maybe we kick ourselves a bit, but we’re quite happy with the performance of our early funds and obviously we’ll be happy to add other new companies that are doing really well into the family.”

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Oct
02

The making of an AI rock star: Kai-Fu Lee has much to say about machine learning, Google and whether China will kick our butts in AI (GOOG, GOOGL, AAPL, MSFT)

Machine learning and neural networks have never been sexier.

The top experts in artificial intelligence are speaking before thousands, signing book deals and attracting gobs of money. The sector is moving from tech niche to center stage stardom.

Take for example Kai-Fu Lee, the noted investor, former president of Google China and AI researcher. On Friday, at two speaking engagements in San Francisco, Lee basked in the kind of attention typically reserved for rock stars, not technologists.

Young men and women in business attire flocked to him. Investors sought introductions. Even school children asked for autographs. Lee is one of AI's biggest boosters as well as one of its chief critics. Wherever he speaks— from Silicon Valley to Beijing — he draws big crowds and garners much praise.

Business Insider tagged along with Lee as he shuttled in a town car between speaking events last week, part of the promotion for his new book, "AI Super Powers, China, Silicon Valley, and The New World Order." In an exclusive interview, he revealed details about why he left Google and how Google fared in the country before pulling out in 2010 (Hint: not good), and whether the US or China will win in AI.

These topics could prove especially relevant in the coming months as lawmakers make inquiries into Google's possible re-entry into China.

Original author: Greg Sandoval

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Oct
02

Amazon quietly ended its year-old program that was supposed to be like a better vending machine (AMZN)

A year ago, Amazon debuted a new way to pick up items within minutes of ordering them, calling it Instant Pickup.

Customers could order items like snacks, drinks, and basic essentials from the Amazon app and use a barcode to access their purchase at designated Pickup locations. An Amazon employee would fill an Instant Pickup locker within minutes of the order being placed.

However, Amazon has pulled the plug on the service, a company spokesperson has confirmed to Business Insider. The company did not specify when the service ended.

The service was designed for impulse, need-it-now purchases. It used Amazon Pickup locations that were already in operation for traditional pickups. When the service was announced in August 2017, it was available at five Pickup locations, including college campuses, and announced plans to expand to more.

Instant Pickup made the Pickup locations more like a store than just a receiving center. It was like a large vending machine with a staff of one.

The cancellation of the rollout is a rare step back for the retailer, which has been going full-steam ahead on opening physical locations. It continues to open Amazon Books stores and pop-up locations, and it recently opened a new store concept called Amazon 4-star. It's possible that Instant Pickup was just an experiment that did not turn out the way Amazon hoped it would.

Instead of Instant Pickup, Amazon is focusing on its Pickup locations, which allow customers to pick up and drop off items to be returned. The centers also offer free, same-day pickup on some locations for Prime members, but that's the fastest Amazon is offering now that Instant Pickup has been rolled back.

When Business Insider tested the Pickup location, we found it easy and simple to use, but limited in functionality.

Original author: Dennis Green

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Sep
12

Simplifying the user journey in decentralized finance

In just a few weeks, 70 new emoji will arrive on your iPhone.

The new emoji include everything from redheads — like those pictured above — to a bagel, a lacrosse stick, a lobster, and more.

This is a good thing, right?

Wrong.

Hey, I'll be honest: I'm a huge fan of emoji, and I probably overuse them when texting with friends and family. Plus, as someone who is occasionally called a redhead, I'm thrilled that I and my ginger ilk will be better represented in emoji form. I'm even optimistic that having a bagel emoji will probably change my life.

But the fact of the matter is, we just can't handle this annual influx of new emojis anymore — at some point, enough is enough. It's become far too difficult to ever find the emoji you're looking for at the exact moment you need it. If Apple insists on including dozens of new emoji each year with its latest software update, it needs to add an emoji search function to the iPhone, or just stop adding new emoji altogether.

Don't believe me? OK, fine: say it's your friend's birthday, and you're hoping to send her a festive text message to help celebrate her special day. You'd like to include a balloon emoji. The only problem is, where the heck is the balloon emoji, anyway? Is it under the smiley faces? Hidden away in the tab with the little car and the little building? Suddenly, you're left scrolling through every single character before giving up in frustration.

It's just too much.

(By the way, the balloon emoji is underneath the present emoji inside the tab that looks like a light bulb — obviously!)

2,823 emoji

For the past several years, we've gotten dozens upon dozens of new emoji annually. The Unicode Consortium — the governing body responsible for approving new emoji designs — typically approves the new characters for all platforms sometime around February, then they roll out on various devices and services over the course of the next several months.

Apple usually adds new emoji to iPhones via a software update sometime in October. This year, they will arrive as part of iOS 12.1, which will land sometime in the next few weeks.

A sampling of the new emoji coming to phones this fall. Emojipedia

This year's update will include 70 new emoji, and 157 new characters total, which includes gender and skin tone variations. Last year, we got 56 unique characters, and a whopping 239 total emoji.

All of that would be well and good, except our phones are now absolutely clogged with tiny characters and symbols, half of which are obscure and rarely, if ever, used. Seriously — have you ever used the paperclip emoji?

On top of that, each symbol that represents a person — or fictional creature, like a mermaid — has variations for gender and skin tone. This is a great thing! The more often people can feel represented, in ways big and small, the better.

Sometimes, though, the emoji powers-that-be take it a little too far:

The current total number of emoji, including skin tone and gender variations, is 2,823 — that's way too many if you ask me.

Just make a search button (please!)

If we're going to keep getting new emoji each year — and all signs point to yes — I have one request: please, please make it easier to find them on your iPhone.

Yes, this is an iPhone-specific problem — Twitter has a search function for emoji; Google has an emoji search function across its phones and keyboards. Even Apple's iMessage on your Mac lets you search for a specific character.

Here's how predictive emoji works on iPhones right now. Apple

And Slack, the popular work chat app, does you one better: typing in ":" followed by what you're looking for will bring up a bevy of emoji to choose from. Type ":car," and it'll bring up a selection of car emoji to choose from, for instance.

Apple has tried to add a way to make finding the right emoji easier in the past, but it's not fool-proof and, to be honest, I rarely find myself using it. It's called predictive emoji: if you type in a word in iMessage — say, for instance, "train" — then tap on the keyboard button, the word will highlight orange. Tapping on that word will bring up emoji suggestions where applicable.

While it works, that isn't the most seamless way to do it — a good old search button would work just fine.

So while I may be a self-professed emoji fiend, I don't want any new symbols making it harder to find my favorite characters, like the hug emoji, the slice of pizza, or the dark red heart. Give me a search button, or give me no new emoji at all. …

Original author: Avery Hartmans

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Oct
02

Amazon was under intense political pressure to raise pay — but there's another obvious reason it’s giving workers more money

AP/Scott Sady

Amazon announced it would raise its minimum wage to $15 an hour after months of political pressure.Chief executive Jeff Bezos said the company had listened to critics in its decision and encouraged other companies to do the same.Economists say the wage increase was just a natural symptom of a tightening labor market. 

When announcing plans to raise minimum wage to $15 an hour for all of Amazon's employees in the US, chief executive Jeff Bezos portrayed the move as a sort of moral reckoning.

"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead," he said Tuesday, referring to months of backlash over how Amazon treats its workers. "We’re excited about this change and encourage our competitors and other large employers to join us."

But political pressure aside, economists say Amazon was probably going to have to raise its wages anyway. In order to stay competitive in a tight labor market, they say, companies across the US will have to make similar moves.

"It is a big deal in that it says a lot about the current political climate and where the labor market is headed," said Josh Wright, chief economist at iCIMS Inc., a recruiting software company. "But it is more symbolic than it is significant." 

With historically low unemployment levels and a humming economy, labor shortages in the US look poised to extend past the holiday shopping season. Put simply, companies need to offer more to attract workers when labor conditions are tight.

Martha Gimbel, director of economic research for the job site Indeed, said the move is just an example of what is expected in the current labor market, and expects other companies would have made similar moves on their own.

"This is not just an Amazon phenomenon," Gimbel said. "When something is harder to find, you're going to have to pay for it."

The policy likely won't show up in national wage data anytime soon. It would increase average hourly earnings in the US by 1.2 cents, Moody's economist Adam Ozimek estimates, as affected workers make up less than a quarter percentage point of total payroll employment. For comparison, that figure tends to rise about 10 cents on average each month. 

"This reflects an underlying trend in wage growth anyway so some of the wage hikes were going to happen even without this policy," Ozimek said. "I think it's more reflective of a tight labor market than it is likely to generate a tight labor market."

Still, others see the action as more than a symptom. Andrew Chamberlain, chief economist at the career site Glassdoor, predicts the company will put "immediate" pressure on wage growth. In the retail and e-commerce sectors, pillars of Amazon's workforce, he expects payrolls to rise faster than the national average. 

"The writing is on the wall," he said. "If the largest retailer in the US is taking a stand like this, it puts other companies at a competitive disadvantage." 

And with labor shortages across the economy, changes in retail and e-commerce could spread to the rest of the economy as it pulls workers from other sectors. 

"Policies and public stances like this do matter," Chamberlain said. "Amazon is such a big fish in the pool that it can have far-reaching consequences."

Original author: Gina Heeb

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Sep
12

Apple iOS 16: Passkeys brings passwordless authentication mainstream

Apple has its AirPods, Google built the Pixel Buds, and now Microsoft has its Surface Headphones.

The $350 over-the-ear Surface Headphones, available later this holiday season, were announced at a Microsoft event in New York City on Tuesday. They'll feature active and passive noise cancelation, bluetooth and wired connections, fast charging, and Cortana support.

Users can ask Microsoft's Cortana voice assistant to pause, play, or change songs, as well as utilize Cortana's non-audio functionalities like reminders and Bing searches. The headphones will also notice when they're taken off someone's head, and will pause songs or mute calls accordingly while the headset is removed.

The idea, it seems, is to offer a pair of high-end headphones that complement Microsoft's high-end Surface hardware. Indeed, on Tuesday, Microsoft announced a trio of new Surface computers: the Surface Pro 6, the Surface Laptop 2, and the Surface Studio 2.

Here are the key specs for the Surface Headphones:

20-20k Hz frequency responseUp to 30 dB active noise cancelation, up to 40 dB passive noise cancelation15-hour battery life using functions like active noise cancelation and Bluetooth50-hour battery life when idle or not using battery-draining functionsBluetooth compatibility3.5 mm audio jack and USB-C connector
Original author: Sean Wolfe

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Oct
02

What Facebook is telling advertisers about the latest hack that affected 50 million user accounts

The spate of bad news continues for Facebook.

After Russian meddling in the 2016 elections and the Cambridge Analytica fiasco, a cyber attack impacted nearly 50 million Facebook user accounts, the company said on Friday.

But marketers aren't freaking out, and instead they're being empathetic, says Carolyn Everson, Facebook's vice president of global marketing solutions.

Speaking at Advertising Week New York, Everson said that she and her team spent Friday and the weekend contacting the company's advertisers, helping them understand the ramifications of the cyber attack. And while they had questions, most were understanding.

"There's empathy around the fact that we're all dealing with this incredible threat, and that at any given moment there can be a cyber attack on anyone," she said. "And certainly, we're not the only company to have had a situation like this."

On Tuesday, Facebook discovered that an unknown attacker, or attackers, had taken advantage of a security flaw to take over users' accounts. The flaw was related to the "View As" feature that lets people see what their own profile looks like through the eyes of another user, Facebook explained.

Everson called the attack "extremely intricate," likening it to an "odorless, weightless intruder" that walks into a house. She said that the attack was so sophisticated that it was very complicated for Facebook's security team to be able to detect it.

Facebook's business team put together a guide over the weekend listing certain steps clients could take to secure their accounts.

And Facebook's team encouraged advertisers to take a stock of admins on their accounts, as large brands tend to have several people that are admins across not just the company, but also at their agencies. Those brands looking to take extra precautions could log out and log back in, said Everson. Lastly, Facebook assured brands that their credit card information could not have been taken by the hackers.

"We do not store the full digits of the credit card number anywhere, and so that was of comfort as well," she said. "Mostly, they're just looking forward to us providing them updates."

This reaction is very different from when the Cambridge Analytica crisis hit, said Everson. And that's because that was something that could have been prevented.

"With Cambridge Analytica, the reaction was slightly different in that that was something that we felt we definitely should have prevented," she said. "We should have gone back and really checked that audit. The firm said that they deleted the data and they didn't and we didn't go back and check on that."

It also helps that Facebook has taken full responsibility for the previous goof-ups and has been proactive in communicating with advertisers, she said. And that's because it recognizes that the foundation of its business is trust from both consumers and marketers.

"At the end of the day we have a responsibility to people and to the marketers that utilize our platform — trust is one of those things that is earned every day by individual actions," she said. "There is no amount of time, energy, or effort that won't be expended in protecting people."

In fact, there is a massive cultural shift taking place within Facebook as far as the role it plays and its responsibility in regard to election integrity, the fight against fake news and data security is concerned, said Everson. She said it was a bigger shift than when the company embraced mobile.

"This is the most important cultural shift — recognizing our responsibility, taking very specific actions and doing everything we can. We have zero tolerance for all of this behavior, but there won't be zero occurrence," she said. "This is the most important thing that we're doing. Nothing else matters if we don't get this right."

Original author: Tanya Dua

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