Sramana Mitra: How do you analyze Flipkart in that context? Has Flipkart gone on to build this whole distribution and logistics infrastructure, which is not asset-light at all? Rehan Yar Khan:...

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Airbnb has made some changes to its platform in order to make it easier for people with disabilities to find accommodations that suit their needs. The 21 new accessibility filters Airbnb has added enable people to find homes and apartments that have step-free entry to rooms, entryways wide enough to accommodate a wheelchair, elevators, roll-in showers with a chair and more.

Airbnb guests were previously able to search for wheelchair accessible listings, but that was it. In order to determine the appropriate filters, Airbnb worked with the California Council of the Blind, California Foundation for Independent Living Centers and the National Council on Independent Living.

Airbnb’s willingness to be inclusive of people with disabilities comes in light of Lyft and Uber facing lawsuits over the lack of options available for people who use wheelchairs. Moving forward, Airbnb says it will work with its hosts and guests to ensure the filters are useful and accurate.

“The introduction of the new accessibility features and filters to all hosts and guests is just the first stage in our journey to improve accessibility at Airbnb,” Airbnb Accessibility Product and Program Manager Srin Madipalli said in a blog post. “We encourage everyone to use them and send through their feedback.”

Spotify explained why it’s ditching the traditional IPO for a direct listing on the NYSE on April 3rd today during its Investor Day presentation. With no lockup period and no intermediary bankers, Spotify thinks it can go public without all the typical shenanigans.

Spotify described the rationale for using a direct listing with five points:

List Without Selling Shares  – Spotify has plent of money with $1.3 billion in cash and securities, has no debt since it converted that into equity for investors, and has positive free cash flowLiquidity – Investors and employees can sell on public market and sell at time of their choosing without investors shorting a lockup expiration, while new investors can join inEqual Access – Bankers won’t get preferred access. Instead, the whole world will get access at the same time. “No underwriting syndicate, no limited float, no IPO allocations, no preferential treatment”.Transparency – Spotify wants to show the facts about its business to everyone via today’s presentation, rather than giving more info to bankers in closed door meetingsMarket-Driven Price Discovery – Rather than setting a specific price with bankers, Spotify will let the public decide what it’s worth. “We think the wisdom of crowds trumps expert intervention”.

Spotify won’t wait for the direct listing, and on March 26th will announce first quarter and 2018 guidance before markets open. It also announced today that there will be no lock-up period, so employees can start selling their shares immediately. This prevents a looming lock-up period expiration that can lead to a dump of shares on the market that sinks the price from spooking investors.

It’s unclear exactly what Spotify will be valued at on April 3rd, but during 2018 its shares have traded on the private markets for between $90 and $132.50, valuing the company at $23.4 billion at the top of the range. The music streaming service now has 159 million monthly active users (up 29 percent in 2017) and 71 million paying subscribers (up 46 percent in 2017.

During CEO Daniel Ek’s presentation, he explained that Spotify emerged as an alternative to piracy by convenience to make paying or ad-supported access easier than stealing. Now he sees the company as the sole leading music streaming service that’s a dedicated music company, subtly throwing shade at Apple, Google, and Amazon. “We’re not focused on selling hardware. We’re not focused on selling books. We’re focused on selling music and connecting artists with fans” said Ek.

Head of R&D Gustav Soderstrom outlined Spotify’s ubiquity strategy, opposed to trying to lock users into a “single platform ecosystem”. He says Spotify does “what’s best for the user and not for the company, and trying to solve the users’ problems by being everywhere.” That’s more shade for Apple, who’s HomePod only works with Apple Music despite customers obviously wishing they could play other streaming services through it.

By now being baked into a wide range of third-party hardware through the Spotify Connect program, Soderstrom says Spotify gets a more holistic understanding of its listeners. He declared that Spotify has 5X as much personalization data as its next closest competitor, and that allows it to know what to play you next. He cheekily calls this “self-driving music”.

 

Directing what people listen to turns Spotify into the new top 40 radio — the hit-maker. That gives it leverage over the record labels so Spotify can get better licensing deals and favorable treatment. Now over 30 percent of Spotify listening is based on its own programming through featured playlists, artists, and more.

There’s plenty of room for Spotify to grow. Only 12 percent of the 1.3 billion payment-enabled smartphones in the world have a streaming music subscription and Spotify makes up half of those. And with the free tier, Spotify has the best way to capture people tip-toeing into streaming.

Wall Street loves a two-sided marketplace, so Spotify is positioning itself in the middle of artists and fans, with each side attracting the other. It’s both selling music streaming services to listeners, and selling the tools to reach and monetize those listeners to musicians. That’s both on its platform, and using its targeting and analytics info to deliver efficient ticket and merchandise promotions elsewhere. Ek discussed the flywheel that drives Spotify’s business, explaining that the more people discover music, the more they listen, and the more artists that become successful on the platform, and the more artists will embrace the platform and bring their fans.

Yet with music catalogues and prices mostly similar across the industry, Spotify will have to depend on its personalized recommendations and platform-agnositic strategy to beat its deep pocketed competitors. Music isn’t going away, so whoever can lock in listeners now at the dawn of streaming could keep coining off them for decades. That’s why Spotify not raising cash for marketing through a traditional IPO is a strange choice. But with its focus on playlists and suggestion data, Spotify could build melodic handcuffs for its listeners who wouldn’t dream of starting from scratch on a competitor.

You can follow along with the presentation here.

For more on Spotify’s not-an-IPO, check out our feature piece:

As you might have heard, last year’s TC Robotics event in Boston was such a hit we’ve decided to do it again — only on the West Coast, this time. On Friday, May 11, we’ll be holding TC Sessions: Robotics on the U.C. Berkeley campus. We’ve got a lot of big industry luminaries lined up that we can’t wait to tell you about, but in the meantime, we’d like to hear from you.

We’re going to have several opportunities for robotics companies to show off their goods in the lead up to and the event itself. We’re looking for the best and brightest in the robotics world — both startups and established companies alike. If you’ve got a technology you think will wow us, we want to hear from you.

Specifically, we’re looking for technology that will make for great videos and stage demos. We’re also searching for startups who are interested in participating in a pitch competition. Bonus points for new technologies we haven’t seen before — and for companies based in and around the Bay Area. Think you’ve got what it takes? Fill out the form below. We’ll reach out to those companies that meet the criteria.

More information on the upcoming TC Sessions: Robotics event can be found here.

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

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Sramana Mitra: A couple of points to add to what you said is, I started seeing a bit of an inflection point in Utah after Omniture. Omniture was a very visible success out of Utah. Omniture went...

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Another massive financing round for an AI chip company is coming in today, this time for SambaNova Systems — a startup founded by a pair of Stanford professors and a longtime chip company executive — to build out the next generation of hardware to supercharge AI-centric operations.

SambaNova joins an already quite large class of startups looking to attack the problem of making AI operations much more efficient and faster by rethinking the actual substrate where the computations happen. The GPU has become increasingly popular among developers for its ability to handle the kinds of lightweight mathematics in very speedy fashion necessary for AI operations. Startups like SambaNova look to create a new platform from scratch, all the way down to the hardware, that is optimized exactly for those operations. The hope is that by doing that, it will be able to outclass a GPU in terms of speed, power usage, and even potentially the actual size of the chip. SambaNova today said it has raised a huge $56 million series A financing round was co-led by GV and Walden International, with participation from Redline Capital and Atlantic Bridge Ventures.

SambaNova is the product of technology from Kunle Olukotun and Chris Ré, two professors at Stanford, and led by former Oracle SVP of development Rodrigo Liang, who was also a VP at Sun for almost 8 years. When looking at the landscape, the team at SambaNova looked to work their way backwards, first identifying what operations need to happen more efficiently and then figuring out what kind of hardware needs to be in place in order to make that happen. That boils down to a lot of calculations stemming from a field of mathematics called linear algebra done very, very quickly, but it’s something that existing CPUs aren’t exactly tuned to do. And a common criticism from most of the founders in this space is that Nvidia GPUs, while much more powerful than CPUs when it comes to these operations, are still ripe for disruption.

“You’ve got these huge [computational] demands, but you have the slowing down of Moore’s law,” Olukotun said. “The question is, how do you meet these demands while Moore’s law slows. Fundamentally you have to develop computing that’s more efficient. If you look at the current approaches to improve these applications based on multiple big cores or many small, or even FPGA or GPU, we fundamentally don’t think you can get to the efficiencies you need. You need an approach that’s different in the algorithms you use and the underlying hardware that’s also required. You need a combination of the two in order to achieve the performance and flexibility levels you need in order to move forward.”

While a $56 million funding round for a series A might sound colossal, it’s becoming a pretty standard number for startups looking to attack this space, which has an opportunity to beat the big chipmakers and create a new generation of hardware that will be omnipresent among any device that is built around artificial intelligence — whether that’s a chip sitting on an autonomous vehicle doing rapid image processing to potentially even a server within a healthcare organization training models for complex medical problems. Graphcore, another chip startup, got $50 million in funding from Sequoia Capital, while Cerebras Systems also received significant funding from Benchmark Capital. Yet amid this flurry of investment activity, nothing has really shipped yet, and you’d define these companies raising tens of millions of dollars as pre-market

Olukotun and Liang wouldn’t go into the specifics of the architecture, but they are looking to redo the operational hardware to optimize for the AI-centric frameworks that have become increasingly popular in fields like image and speech recognition. At its core, that involves a lot of rethinking of how interaction with memory occurs and what happens with heat dissipation for the hardware, among other complex problems. Apple, Google with its TPU, and reportedly Amazon have taken an intense interest in this space to design their own hardware that’s optimized for products like Siri or Alexa, which makes sense because dropping that latency to as close to zero as possible with as much accuracy as possible in the end improves the user experience. A great user experience leads to more lock-in for those platforms, and while the larger players may end up making their own hardware, GV’s Dave Munichiello — who is joining the company’s board — says this is basically a validation that everyone else is going to need the technology soon enough.

“Large companies see a need for specialized hardware and infrastructure,” he said. “AI and large-scale data analytics are so essential to providing services the largest companies provide that they’re willing to invest in their own infrastructure, and that tells us more investment is coming. What Amazon and Google and Microsoft and Apple are doing today will be what the rest of the Fortune 100 are investing in in 5 years. I think it just creates a really interesting market and an opportunity to sell a unique product. It just means the market is really large, if you believe in your company’s technical differentiation, you welcome competition.”

There is certainly going to be a lot of competition in this area, and not just from those startups. While SambaNova wants to create a true platform, there are a lot of different interpretations of where it should go — such as whether it should be two separate pieces of hardware that handle either inference or machine training. Intel, too, is betting on an array of products, as well as a technology called Field Programmable Gate Arrays (or FPGA), which would allow for a more modular approach in building hardware specified for AI and are designed to be flexible and change over time. Both Munichiello’s and Olukotun’s arguments are that these require developers who have a special expertise of FPGA, which is a sort of niche-within-a-niche that most organizations will probably not have readily available.

Nvidia has been a major benefactor in the explosion of AI systems, but it clearly exposed a ton of interest in investing in a new breed of silicon. There’s certainly an argument for developer lock-in on Nvidia’s platforms like Cuda. But there are a lot of new frameworks, like TensorFlow, that are creating a layer of abstraction that are increasingly popular with developers. That, too represents an opportunity for both SambaNova and other startups, who can just work to plug into those popular frameworks, Olukotun said. Cerebras Systems CEO Andrew Feldman actually also addressed some of this on stage at the Goldman Sachs Technology and Internet Conference last month.

“Nvidia has spent a long time building an ecosystem around their GPUs, and for the most part, with the combination of TensorFlow, Google has killed most of its value,” Feldman said at the conference. “What TensorFlow does is, it says to researchers and AI professionals, you don’t have to get into the guts of the hardware. You can write at the upper layers and you can write in Python, you can use scripts, you don’t have to worry about what’s happening underneath. Then you can compile it very simply and directly to a CPU, TPU, GPU, to many different hardwares, including ours. If in order to do that work, you have to be the type of engineer that can do hand-tuned assembly or can live deep in the guts of hardware, there will be no adoption… We’ll just take in their TensorFlow, we don’t have to worry about anything else.”

(As an aside, I was once told that Cuda and those other lower-level platforms are really used by AI wonks like Yann LeCun building weird AI stuff in the corners of the Internet.)

There are, also, two big question marks for SambaNova: first, it’s very new, having started in just November while many of these efforts for both startups and larger companies have been years in the making. Munichiello’s answer to this is that the development for those technologies did, indeed, begin a while ago — and that’s not a terrible thing as SambaNova just gets started in the current generation of AI needs. And the second, among some in the valley, is that most of the industry just might not need hardware that’s does these operations in a blazing fast manner. The latter, you might argue, could just be alleviated by the fact that so many of these companies are getting so much funding, with some already reaching close to billion-dollar valuations.

But, in the end, you can now add SambaNova to the list of AI startups that have raised enormous rounds of funding — one that stretches out to include a myriad of companies around the world like Graphcore and Cerebras Systems, as well as a lot of reported activity out of China with companies like Cambricon Technology and Horizon Robotics. This effort does, indeed, require significant investment not only because it’s hardware at its base, but it has to actually convince customers to deploy that hardware and start tapping the platforms it creates, which supporting existing frameworks hopefully alleviates.

“The challenge you see is that the industry, over the last ten years, has underinvested in semiconductor design,” Liang said. “If you look at the innovations at the startup level all the way through big companies, we really haven’t pushed the envelope on semiconductor design. It was very expensive and the returns were not quite as good. Here we are, suddenly you have a need for semiconductor design, and to do low-power design requires a different skillset. If you look at this transition to intelligent software, it’s one of the biggest transitions we’ve seen in this industry in a long time. You’re not accelerating old software, you want to create that platform that’s flexible enough [to optimize these operations] — and you want to think about all the pieces. It’s not just about machine learning.”

Drover, a London-based startup that lets you take out a “car subscription” as an alternative to car ownership, has picked up £5.5 million in seed funding. The round was led by VC firms Cherry Ventures, Partech and BP Ventures (the venture arm of BP), and adds to an earlier £2 million ‘pre-seed’ investment from Version One, and Forward Partners.

Founded by Felix Leuschner (CEO) and Matt Varughese (CTO) in late 2015 and subsequently launched the following January, Drover has built what it describes as a Mobility-as-a-Service platform, giving you access to a car wrapped up in a single monthly subscription. This includes the vehicle itself, insurance, road tax, maintenance and breakdown cover. In addition, users can swap, upgrade or downgrade their car monthly or just cancel altogether, without any long-term commitment or steep upfront payments, says the startup.

Of course, you might think that sounds just like existing car rental offerings, except Drover is designed to be a rolling monthly contract, or for 6 months or longer. In other words, mid to long term rentals, which it sees as a gap in the market and competing more against an outright car purchase or taking credit via a longterm car lease or hire-purchase.

More broadly, Drover says it is hoping to tap into macro trends of the sharing economy, which affords an asset-light and on-demand lifestyle (yes, really!). In terms of how this breaks down into actual customers, Drover’s CEO cites young families who value flexibility as their circumstances change, “life-style driven premium customers” who may want a convertible in the summer and an SUV in the winter, and “convenience-oriented customers” who are drawn to Drover’s all-inclusive and hassle-free package compared to the broken and fragmented user experience of traditional car ownership.

The startup has elected to operate a marketplace model, too, meaning that it doesn’t own any cars or have to shoulder the capital cost of inventory. Instead it currently works with 100 fleet partners to provide a selection of new and used vehicles on its platform. Fleet partners are large rental companies like Europcar, Avis Budget Group and Hertz, car dealership groups, and OEMs, which includes a partnership with BMW Group UK. The buy-in from fleet partners is a new way to monetize vehicles that would otherwise be sitting around idle while depreciating.

“Drover’s marketplace model thereby allows its vehicle partners (rental car companies, dealership groups, OEMs) to list, manage and monetise available vehicle inventory, driving incremental revenue from otherwise under-utilised assets,” Drover’s Leuschner tells me.

Meanwhile, Dover says the new funding will be used to scale the business further and invest in its engineering and product team.

“We at Cherry have the thesis that car ownership is going to change fundamentally in the next few years,” Cherry Ventures founding partner Christian Meermann tells me. “Why should consumers actually own a car or lease it for a long period of 3 or 4 years in the times of sharing economy, desire for high flexibility, and fast innovation cycles in the automotive industry? We believe that Drover’s car subscription service will change the whole automotive industry with Drover’s extremely high flexibility, combined with its broad selection of available cars”.

Meermann says he hopes the Drover team will rapidly grow car subscription in the U.K. and beyond. The key to this, he says, is building great tech to power the supply side of the startup’s marketplace (ie making it cost-effective and scalable for fleet partners to onboard and manage inventory), while at the same time “creating tremendous value” for customers on the demand side.

We had all but forgotten about Tamagotchis. But those attention-starved little creatures are coming back.

Today, My Tamagotchi Forever launches on Google Play and the App Store. For those of you who didn’t ride the wave of handheld digital pets in the late 90s and early aughts, or those of you who are too young to have participated, here’s the gist:

Tamagotchis were little digital pets that lived inside a small handheld device. What made Tamagotchis interesting is that they were on a real schedule, needing food and attention on a daily basis. If you ignored your Tamagotchi for a few days, it would die. It was a high stakes game.

Eventually, the fad died as did many a Tamagotchi.

But today, Bandai Namco has tried to revive the trend with the launch of My Tamagotchi Forever.

Within the game, each Tamagotchi has a sleep meter, a hunger meter, an entertainment meter, and a bathroom meter. Users must fulfill the needs of the Tamagotchi in order to keep it happy and earn virtual currency to buy equipment for entertainment and food. Users can earn coins by playing mini-games in the entertainment section of the app.

Where My Tamagotchi Forever strays from its ancestors is in-app purchases. The game lets you skip past certain necessities, like waiting for your Tamagotchi to sleep, by purchasing Diamonds.

Given that this game is geared towards children, you could see how users could quickly rack up a bill, as some of the in-app purchases are as expensive as $99.

You can check out the trailer below or head straight to the app here.

Startup pitches invariably involve futures where the skies are thick with drones — delivery, transportation, emergency response. In that seemingly inevitable scenario, tracking and hunting down out of control and malicious unmanned vehicles will likely be a pretty lucrative field.

It’s something Fortem’s been working on for a few years now. In May of 2016, the company purchased radar technology from IMSAR. A year later, the Utah-based company raised a $5.5 million seed to help grow the tech into a compact drone detection system. Today, the startup announced that it’s closed its Series A — $15 million, led by Palo Alto-based VC firm, Data Collective (DCVC), which also played a key role in the seed round. 

For CEO Timothy Bean, the fundraising round represents a testament to the accuracy of the company’s core TrueView technology — an AI-powered 360-degree radar system that weighs a pound-and-a-half and is roughly the size of a pencil case. “This is a huge validation for our technology,” Bean said in a call to TechCrunch this week, “that it works and works well.”

TrueView’s compact size means the technology can go beyond simply serving as ground-based radar. The product can be mounted directly onto a robust drone, giving the device a complex vision to help it detect and avoid objects smaller than a can of soda. The company believes that utilizing such technology could go a ways toward loosening line-of-sight restrictions that have made it difficult for drone-based business to execute their plans.

“Billions of dollars have been spent on the drone economy,” said Bean. “The current rules require you to have a human monitoring the aircraft,” Bean told TechCrunch. What we tend to do is remove the joystick and enable these machines to fly beyond the line of sight. All of the different companies that want to deliver packages, provide search and rescue, air taxis — it’s a billion-dollar industry and we’re right at the forefront.”

Last year, the startup also demoed DroneHunter, a technology designed to help alleviate those problem drones by shooting net at them. Pretty cool.

Other investors in the round include Abu Dhabi-based Mubadala, and Boeing’s venture wing, HorizonX, which clearly has a vested interest in keeping the skies safe. Bean says the money will go toward scaling the business and marketing side of the company and adapting the technology to fit a wider variety of aircraft. Fortem will also be growing its staff, which currently numbers just less than 100.

Seattle-based Strix Leviathan, an enterprise trading and management platform for crypto assets founded by startup vet Jesse Proudman, today announced that it has raised a $1.625 million seed round led by Joe Montana’s Liquid 2 Ventures (yes, that Joe Montana). Other investors include Founders’ Co-op, Future\Perfect Ventures and 9Mile Labs, as well as angel investors like Chris McCoy, Doug Baldwin Jr., Kirby Winfield and Steve Hall.

Prior to founding Strix Leviathan, Proudman was the founder and CEO of Blue Box, a cloud computing startup that was acquired by IBM in 2015. With this new startup, Proudman’s moving into a somewhat different space, but as he told me when the company first launched, he believes the state of crypto is similar to the state of the Internet when he launched his first startup in 1997.

Given his experience in the enterprise world, it’s maybe no surprise that Proudman opted to take an enterprise approach to crypto, too. “Many Institutional investors have struggled to figure out the best path of entry into cryptocurrency markets due to the inherent complexities of the space,” he said. “We’re squarely focused on solving trading and management of cryptocurrencies for these institutions and enterprises. Considering the thousands of individual trading pairs, the plethora of exchanges and the immaturity of cryptocurrency markets, these investors desperately need a platform to simplify their trading initiatives. The markets are ready for an offering like ours and we’re excited to bring it to them.”

To do this, the Strix Leviathan team is building three core features: a data ingestion engine for pulling in relevant data across a variety of sources, algorithmic trading strategies based on this data that others can license, and an order gateway that allows the service to execute trades across many of the popular crypto exchanges.

“I’ve seen the birth of PCs, the internet and mobile,” said Liquid 2 Ventures’ Joe Montana in a statement today. “It’s early, but I think crypto may be the next revolution. Unfortunately, it’s also full of scams. Right now the key is to find the right team that is doing something new and to trust them. We’ve known Jesse for years. He’s proven himself to be trustworthy and adaptive in fast paced markets. Strix should be huge.”

According to an artprice report published last year, the global art auction turnover was estimated at $6.9 billion for the first half of 2017. The market is dominated by the US, which accounted for...

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A massive company probably has plenty of engineers on staff and the resources to build a complex backbone of interconnected information that can contain tons of data and make acting on it easy — but for smaller companies, and for those that aren’t technical, those tools aren’t very accessible.

That’s what convinced Howie Liu to create Airtable, a startup that looks to turn what seems like just a normal spreadsheet into a robust database tool, hiding the complexity of what’s happening in the background while those without any programming experience create intricate systems to get their work done. Today, they’re trying to take that one step further with a new tool called Blocks, a set of mix-and-match operations like SMS and integrating maps that users can just drop into their systems. Think of it as a way to give a small business owner with a non-technical background to meticulously track all the performance activity across, say, a network of food trucks by just entering a bunch of dollar values and dropping in one of these tools.

“We really want to take this power you have in software creation and ‘consumerize’ that into a form anyone can use,” Liu said. “At the same time, from a business standpoint, we saw this bigger opportunity underneath the low-code app platforms in general. Those platforms solve the needs of heavyweight expensive use cases where you have a budget and have a lot of time. I would position Airtable making a leap toward a graphical user interface, versus a lot of products that are admin driven.”

Liu said the company has raised an additional $52 million in financing in a round led by CRV and Caffeinated Capital, with participation from Freestyle Ventures and Slow Ventures. All this is going toward a way to build a system that is trying to abstract out even the process of programming itself, though there’s always going to be some limited scope as to how custom of a system you can actually make with what amounts to a set of logic operation legos. That being said, the goal here is to boil down all of the most common sets of operations with the long tail left to the average programmers (and larger enterprises often have these kinds of highly-customized needs).

All this is coming at a time when businesses are increasingly chasing the long tail of small- to medium-sized businesses, the ones that aren’t really on the grid but represent a massive market opportunity. Those businesses also probably don’t have the kinds of resources to hire engineers while companies like Google or Facebook are camping out on college campuses looking to snap up students graduating with technical majors. That’s part of the reason why Excel had become so popular trying to abstract out a lot of complex operations necessary to run a business, but at the same time, Liu said that kind of philosophy should be able to be taken a step further.

“If you look at cloud, you have Amazon’s [cloud infrastructure] EC2, which abstracted the hardware level and you can build on existing machine intelligence,” Liu said. “Then, you get the OS level and up. Containers, Heroku, and other tools have extracted away the operation level complexity. But you have to write the app and modal logic. Our goal is to go a big leap forward on top of that and abstract out the app code layer. You should be able to directly use our interface, and blocks, all these plug and play lego pieces that give you more dynamic functionality — whether a map view or an integration with Twilio.”

And, really, all these platforms like Twilio have tried to make themselves pretty friendly to coding beginners as-is. Twilio has a lot of really good documentation for first-time developers to learn to use their platforms. But Airtable hopes to serve as a way to interconnect all these things in a complex web, creating a relational database behind the scenes that users can operate on in a more simplistic matter that’s still accurate, fast, and reliable.

“Obviously MySQL is great if you want to use code or custom SQL queries to interface with the data,” Liu said. “But, ultimately, you’d never as a business end user consider using literally a terminal-based SQL prompt as the primary interface to and from your data. Certainly you wouldn’t put that on your designs. Clearly you would want some interface on top of the SQL level database. We basically expose the full value of a relational database like Postgres to the end user, but we also give them something equally but more important: the interface on the top that makes the data immediately visible.”

There’s been a lot of activity trying to rethink these sort of fundamental formats that the average user is used to, but are ripe for more flexibility. Coda, a startup trying to rethink the notion behind a word document, raised $60 million, and all this points towards moves to try to create a more robust toolkit for non-technical users. That also means that it’s going to be an increasingly hot space, and especially look like an opportunity for companies that are already looking to host these kinds of services online like Amazon or Microsoft and have the buy-in from those businesses.

Liu, too, said that the goal of the company was to go after all potential business cases right away by creating a what-you-see-is-what-you-get one size fits all platform — which is usually called a horizontal approach. That’s often a very risky move, and it’s probably the biggest question mark for the company as there’s an opportunity for some other startups or companies to come in and grab niches of that whole pie in specific areas (like, say, a custom GUI programming interface for healthcare). But Liu said the opportunity for Airtable was to go horizontal from day one.

“There’s this assumption that software has to involve literally writing code,” Liu said. “It’s sort of a difficult thing to extricate ourselves from because we have built so much with writing code. But when you think about what goes into a useful application, especially in the business-to-business internal tools in a company use case which forms the bulk of software that’s consumed in terms of lines of code written, most of them are primarily a relational database model, and the relational database aspect of it is not an arbitrary format.

Sramana Mitra: What was the concept around which you started this company? Anthony Ferry: When we formed the company, it was a traditional consulting company where we wanted to build solutions for...

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Fintech startup Revolut is slowly making traditional bank accounts irrelevant. The company is adding direct debits in EUR to make it easier to pay for utilities and subscription services.

While Revolut is currently applying for a banking license, the company has already been adding everything you need to replace your bank account with a Revolut account.

The company started with an e-wallet in multiple currencies combined with a MasterCard. This way, you can upload money to your Revolut account in your local currency and then send and spend money in multiple currencies.

But when it comes to spending money, Revolut users have been limited to card payments so far. And yet, many countries ask you to pay your electricity or phone bill using direct debits.

Back in July 2017, Revolut gave you a personal IBAN in EUR and GBP. And now, you can hand your banking details to any subscription service in EUR so that they can debit your Revolut account directly.

And that’s about all you need to know. Revolut now has 1.5 million customers and many different services. You can buy travel insurance, phone insurance and cryptocurrencies through the Revolut app. Eventually, Revolut wants to become the financial hub on your phone.