May
27

Breinify announces $11M seed to bring data science to the marketing team

General Motors, Ford Fiat Chrysler Automobiles, and the United Auto Workers union have formed a COVID-19/Coronavirus Task Force to protect warehouse and manufacturing employees at the Detroit Big Three.Convened by UAW President Rory Gamble, the task force will be led by Gamble, GM CEO Mary Barra, Ford CEO Jim Hackett, and FCA CEO Mike Manley.Normally fierce rivals, the CEOs and Gamble issued an unusual joint statement stressing their commitment to workers.GM, Ford, and FCA has restricted domestic and international travel and sent employees into work-from-home mode, but their assembly plants in the US has remained in operation.No COVID-19 case has yet been reported at a manufacturing facility operated by the Big Three.Visit Business Insider's homepage for more stories.


On Sunday, General Motors, Ford, Fiat Chrysler Automobiles, and the United Auto Workers jointly announced that they would establish a "COVID-19/Coronavirus Task Force to implement enhanced protections for manufacturing and warehouse employees at all three companies," according to a statement released by Ford.

The same statement was simultaneously posted to the media sites of GM, FCA, and the UAW.

At the COVID-19 outbreak intensifies in the US, all three major automakers have restricted domestic and international travel, and they have also told their non-factory employees to work from home. Thus far, however, they have kept their numerous factories operating.

Crosstown rivals have become allies. Fresh off a bruising 50-day strike last year, UAW President Rory Gamble — who according to the statement "convened the leaders of all three companies" — and GM CEO Mary Barra will now work together on the task force. They'll be joined by Ford CEO Jim Hackett FCA CEO Michael Manley.

"They will be supported by Terry Dittes, vice president, UAW-GM Department; Gerald Kariem, vice president, UAW-Ford Department; and Cindy Estrada, vice president, UAW-FCA Department," Ford said in is statement. Also joining are the "medical staffs, and the manufacturing and labor leadership teams at all three companies."

"Workplace health and safety is a priority for us every day, all three companies have been taking steps to keep the COVID-19/coronavirus out of their facilities and during this national emergency, we will do even more working together," Gamble said.

"We are focused on doing the right thing for our people, their families, our communities and the country. All options related to protecting against exposure to the virus are on the table."

In an unusual joint statement, GM, Ford and FCAs CEO said, "This is a fluid and unprecedented situation, and the task force will move quickly to build on the wide-ranging preventive measures we have put in place. We are all coming together to help keep our workforces safe and healthy."

The added, "The joint task force's areas of focus will include vehicle production plans, additional social distancing, break and cleaning schedules, health and safety education, health screening, food service and any other areas that have the potential to improve protections for employees."

"As the joint task force identifies enhancements, each company, together with the UAW, will provide regular updates to the workers in their facilities."

No COVID-19 case has yet been reported at a manufacturing facility operated by the Big Three. However, as schools and colleges close nationally, businesses cut back on activity, and an increasing number of people have been told by employers to work remotely, automakers in the US might have to address the 150,000 hourly workers represented by the UAW at plants throughout the country.

Original author: Matthew DeBord

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Mar
15

The life and rise of Lilly Singh, the YouTube star who now hosts her own late night show and is now worth over $10 million

As a kid, Singh was constantly acting out skits and performing hip-hop routines for friends and her sister. "Every other kid in school wanted to be a doctor, an engineer, a scientist, and my parents were like, 'Oh, of course, our daughter wants to be a rapper,'" Singh's sister, Tina, said in a 2017 interview.

YouTube/Screenshot

Source: Toronto Life

In high school, Singh got into bhangra, a traditional Indian style of dance. She attended New York University in 2006 to study psychology but found herself putting more time into the bhangra club — which she was president of — than studying.

George Mason University’s competitive bhangra team performs in 2016. Paul Morigi/AP Images for Asian Americans Advancing Justice - AAJC

Her parents didn't approve of her dancing in public, but they eventually let her do it "because I was going to do it anyway," Singh told Toronto Life.

Source: Toronto Life

Singh soon discovered YouTube and content creators like Jenna Marbles who were gaining a following by just being themselves. She made her first video at age 22 under the moniker, "Superwoman."

Lilly Singh/YouTube

Source: Toronto Life

Singh became the only female late-night host on a major network, and the first queer person of color to be in that spot. "A Little Late with Lilly Singh" debuted in September 2019, and included a rap parody similar to her YouTube content.

Scott Angelheart/NBC/NBCU Photo Bank via Getty Images

Source: Huffington Post, The Verge

Original author: Paige Leskin

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Mar
15

#LeadBoldly to #StoptheSpread of COVID-19

A coalition of 250 CEOs and leaders (and growing by the hour) are asking our fellow business and civic leaders around America to #LeadBoldly and #StoptheSpread of COVID-19.

We as leaders are doing the following, and asking other leaders to join us:

Immediately change our organization’s policies to “work from home” for all employees where possible, including leaders.Do everything we can to support our frontline workforce, our first responders and our healthcare workers, as they show up for work and fight this on the frontlines.Ask our employees to stop hosting or attending voluntary/social public events of ANY sizeFree up time on our calendars to support our state and local communities as we move through this crisis

We’re encouraging all of our employees, our friends, and our families to:

Stop hosting or attending ALL voluntary/social public events of ANY sizeStop patronizing bars, restaurants, and gyms. That said, please do what you can otherwise to support small businesses and their employees during this tough time — buy gift cards from local restaurants to use later this year, support small online retailers, etc. (More to follow on specific initiatives to support small businesses — please send us your suggestions).Provide support for frontline workers, first responders and healthcare workers, as they fight this on the frontlinesTreat one another kindly in the stressful time

If you are a business or civic leader, I encourage you to join this initiative to LeadBoldly to #StoptheSpread of COVID-19

Original author: Brad Feld

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Mar
15

From healthcare and Wall Street to Silicon Valley and space exploration, here's a breakdown of how the coronavirus is upending every industry

Hello!

My Insider Inc. colleagues and I are now all working from home, and I expect many of you are too. I will admit that so far that it's been an adjustment. With that in mind, I want to start the newsletter this week with advice from six of our senior editors who have worked remotely for years about how to do it productively. 

8 tips for crushing your job while working from home, from 6 leaders who have worked remotely for years

I hope it's helpful. I should also note that cybersecurity experts are warning that hackers are targeting people now working from home amid the coronavirus outbreak. Be careful online.

Below is a breakdown of how the coronavirus is impacting the healthcare industry, markets, Wall Street and Big Law, Big Tech and Silicon Valley startups, cleantech, the advertising and media industry, and even space exploration.

But before that, I want to highlight some non-coronavirus related features from the past week that are worth your time:

Coming back to coronavirus, here are a couple of bullet points from across our coverage just to highlight how far-ranging of an impact the outbreak is having.

A nurse demonstrates taking a sample for a coronavirus test at the infection station of the university hospital in Essen, Germany, Thursday, March 12, 2020. AP Photo/Martin Meissner

What coronavirus means for the healthcare system

Italy has quickly become one of the epicenters of the coronavirus pandemic, Lydia Ramsey reports. From her story: 

In a conversation hosted by the Journal of the American Medical Association, Dr. Maurizio Cecconi, the head of the department of anesthesia and intensive care units at Humanitas Research Hospital in Milan, said Italy's situation began on February 20, when a patient in his 30s tested positive for COVID-19.

As of Friday, Italy had more than 15,000 infections and more than 1,000 deaths related to COVID-19. 

You can read her story here:

A doctor at the epicenter of the coronavirus response in Italy warns US hospitals to avoid getting overwhelmed by the pandemic

Lydia's story from a week ago is continuing to attract lots of attention. If you missed it, you can read it here:

A leaked presentation reveals the document US hospitals are using to prepare for a major coronavirus outbreak. It estimates 96 million US coronavirus cases and 480,000 deaths.

Elsewhere:

Traders work on the floor of the New York Stock Exchange (NYSE) after the opening bell of the trading session in New York Reuters

What it means for markets

The Global COVID Crisis (GCC), as JPMorgan referred to it in a research note this week, triggered a wild stretch for markets, including the fastest 20% drop in the Dow Jones Industrial Average in history and the Dow's worst single-day drop since 1987. Stocks on Friday then surged as policymakers stepped up their efforts to contain the economic damage of the outbreak. 

Our investing team had lots of stories on how to navigate it all:

What it means for Wall Street firms and Big Law

Amazon's Jeff Bezos Reuters

What coronavirus means for Silicon Valley

Let's start with Big Tech:

And now for startups:

Silicon Valley's startups are facing the biggest crisis in a generation, Melia Russell and Megan Hernbroth reported. Here's what venture capital investors like Greycroft, Menlo Ventures, and Mayfield are telling founders they need to do to survive.The world has turned upside down since DoorDash filed for an IPO two weeks ago. CEO Tony Xu talked to Meghan Morris and Troy Wolverton about competition, coronavirus, and going public. Melia reported that Lux Capital, a top VC firm, is asking employees to log everywhere they go in case they catch the coronavirus, saying they have a "moral responsibility" to stem the spread.Megan reported that top VC firm Kleiner Perkins says it signed the first term sheet of the "work from home" era. Here's how it came together.Megan also reported that Y Combinator, Silicon Valley's most famous startup training program, scrapped its famous 'Demo Day' founder pitches and will instead make startups submit investor-friendly slides

What it means for renewables

Cleantech is one of our newer areas of coverage, and I couldn't be happier to have Benji Jones the leading the charge at a really interesting time for the industry. Here's what you need to know:

John Minchillo/AP

What it means for the advertising and media business

Lastly, coronavirus concerns have reached those planning to go to space. Dave Mosher reported that NASA is limiting access to astronauts scheduled to fly on SpaceX's first spaceship for people.

Stay safe.

-- Matt

Original author: Matt Turner

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May
27

Augmented reality NFT platform Anima gets backing from Coinbase

Media companies, along with the rest of the economy, are being strained by the coronavirus pandemic.Business Insider breaks down the biggest impact to media businesses so far, including the closures of Disney's parks around the world and the companies most threatened by the spread of the virus.Visit Business Insider's homepage for more stories.

TV and film productions are being put on hold, major sporting events are being canceled or postponed, and theme parks are closing their gates as businesses and governments try to slow the spread of the coronavirus globally.

The media industry, along with the rest of the economy, is being strained by the pandemic.

The companies most exposed to the threat are those that generate significant shares of their revenue from theme parks, the box office, or advertising — all of which could be threatened by the coronavirus outbreak or a broader economic downturn.

Wall Street firm UBS forecasted earlier this week that Disney was the media company most threatened by the spread of coronavirus, followed by Discovery, Fox, ViacomCBS, and AMC Networks.

See the breakdown: Analysts say Disney and Discovery are the media giants most threatened by the coronavirus, but Comcast could fare better

New Disney CEO Bob Chapek is already being tested as a leader. The company is being forced to temporarily shutter its parks globally and push theatrical releases and productions. UBS estimated Disney could lose more than $2 billion in revenue if its parks close for 30 days. 

The company's cable networks, including ESPN, could also be hurt by the canceled sporting events, though analysts say it's too soon to estimate how much.

Read more: Analysts lay out the financial damage each of Disney's businesses could face, as it closes parks and postpones films due to the coronavirus 

Netflix, meanwhile, is expected to benefit from the social distancing that's being encouraged by governments around the world. More time at home could mean more opportunities to stream Netflix. 

But there could be downsides for Netflix's business as well.

The streaming company is counting on a boost in subscribers and revenue from international markets this year, including regions like Europe and Asia that are among the worst hit by the pandemic, analysts at Needham said. People in those areas may be less incentivized to subscribe to Netflix if they're worried about their next paychecks.

Read the full story: Why Netflix's business could take a hit from the coronavirus, despite reports that 'stay at home' stocks could benefit

Original author: Ashley Rodriguez

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Sep
28

3 brilliant jobs to apply for this week

Google Cloud CEO Thomas Kurian has said that he plans to become "at least the No. 2 cloud." To get there, the company will have to surpass Microsoft and close the gap with market-leading Amazon Web Services.Analysts expect making a big cloud acquisition will be the fastest way for Google to grow.Business Insider compiled a list below of 20 potential Google acquisition targets, according to analysts.Some of them are big and unlikely — including companies and businesses like Oracle Cloud, IBM Cloud, or Salesforce — while others point to Google Cloud's need to deepen its expertise in AI chips, cloud software, and other markets.Click here to read more BI Prime stories.

As Google Cloud tries to catch up to cloud-market leaders Amazon Web Services and Microsoft, analysts expect Google could make big cloud acquisitions this year to boost the business.

Google is significantly behind Amazon and Microsoft in the cloud computing business. Gartner most recently estimated AWS had a 47.8% market share in 2018, compared with Microsoft's 15.5% and Google's 4%. And Google's G Suite, which includes tools like Gmail and Google Docs, is very popular, with two billion monthly active users — but is far outmatched by Microsoft Office and the cloud-based Office 365 in the workplace.

But CEO Thomas Kurian, who took over Google Cloud in early 2019, has a plan to turn things around. According to a source who spoke with Business Insider in August, Kurian told employees Google Cloud has a five-year goal to become "at least the No. 2 cloud" and present a more serious threat to the leading AWS. It's already made notable progress, showing that it's on track to post $10 billion in revenue this year, with 53% year-over-year growth in the last quarter. 

Part of that plan has involved acquisitions: Google last summer announced plans to buy data-analytics company Looker for $2.6 billion. Google in November also bought CloudSimple, once a crucial part of Microsoft's cloud ecosystem. 

Analysts expect that there are likely more to come. Kurian was known for his aggressive acquisition strategy at Oracle, his previous employer, and they expect that he'll take a similar tactic to bolster Google Cloud and make it more appealing to larger customers — especially amid the current economic tumult, which could drag down startup and public company valuations alike. 

"To catch up to AWS and Azure, the only way for Google to catch up is to make an acquisition. Big ones," Jeb Su, principal analyst at Atherton Technology Research, told Business Insider. "(Kurian) is probably looking now that the market has crashed and looking at much bigger acquisitions."

While Google Cloud is known for its artificial intelligence and data analytics capabilities, it needs to expand its product portfolio to keep pace with its leading cloud rivals, analyst Dan Ives of Wedbush has previously said.

"[Google Cloud Platform] is miles behind Microsoft and Amazon," Ives told Business Insider earlier this year. "Kurian & Co. need to acquire a cloud apps or infrastructure player to gain a toehold into this market."

Through that lens, there are a lot of different ways that Google Cloud could go, and analysts we spoke to have ideas — though some of their ideas would be a stretch, no matter how many zeroes are at the end of Google's bank balance. There's also no indication that any of these companies would even want to sell, or that Google has ever come calling.

Here are the 20 companies Google could consider buying to boosts its cloud business, according to analysts – and some are more likely than others:

Original author: Ashley Stewart and Rosalie Chan

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Mar
15

The 10 best and cheapest ways to play great video games while you're stuck indoors

Enhance/The Tetris Company

"Tetris Effect" takes a foundational game ("Tetris"), executes it perfectly, and crucially evolves the concept into something completely fresh.

The foundation of "Tetris Effect" is still focused on creating and clearing lines from the play field as new blocks are randomly generated from the top. There is no major shift or evolution in this respect — "Tetris Effect" is, at its core, a "Tetris" game. 

The game's title sounds like a psychological phenomenon — and it is, in fact, exactly that: where players start "seeing" the patterns of "Tetris" in the world or in their mind as they drift off to sleep. "Tetris Effect," the game, takes that and twists it back on itself. 

During gameplay, a synaesthetic journey takes place in the background. With each twist of the "Tetris" block ("tetronimo") and lateral movement, the game's music responds in turn. While this auditory collaboration occurs, the game's background visuals take players on a journey through space, or the oceans, or across a vast desert.

It's surreal, beautiful, intense — and it's much more than a parlor trick.

Beyond offering an additional audio/visual component, these synaesthetic effects serve to further imprint the game's seemingly simplistic gameplay into consciousness. It deepens an already flow-like experience. 

Platform(s): PlayStation 4, PC

Original author: Ben Gilbert

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Mar
15

Top VC firm Kleiner Perkins says it signed the first term sheet of the 'work from home' era. Here's how it came together.

Tucked in between news of markets in turmoil and growing US coronavirus cases on Thursday was a healthy dose of venture capitalist optimism.

Mamoon Hamid, partner at Silicon Valley venture stalwart Kleiner Perkins, tweeted that he and his team had signed a Series A term sheet for a as of yet undisclosed startup. The deal, he claimed, was the first of its kind since many VC firms have chosen to go entirely remote, ditching the glass-walled conference rooms in Silicon Valley and San Francisco.

"Our first signed term sheet for a Series A investment in our new 'WFH' world," Hamid tweeted. "From partner meeting pitch to investment decision — all done remotely and completely distributed. While we crave in-person interaction, this can and will work. Perhaps 'remote work' is the new platform."

The deal isn't entirely closed yet, according to Kleiner Perkins partner Bucky Moore. He was part of the original deal team that scouted the company in question, and told Business Insider that he had been following the entrepreneur in question for roughly nine months prior to the signed term sheet Thursday. He said he had met the entrepreneur in person before the remotely finalized deal, but several partners had not.

"They didn't have plans to raise a Series A because they were achieving milestones that had been set at the seed round," Moore told Business Insider. "Things started to heat up in that respect at the same time this new way of working became commonplace."

Moore said that the deal team had initially planned to bring the entrepreneur in to meet the firm's partners, a common final step in securing funding, on Monday. But once it was clear the partners would be working remotely, Moore said he was able to get the entrepreneur on board with pitching the firm remotely via Zoom. Just four days and several negotiations over the phone later, the term sheet was signed and the process will begin moving forward with both parties' legal counsels, which also relies on email and phone communication instead of in-person meetings.

"I think it's unchanged, which is why this is interesting," Moore said of the deal's timeline. "When a partner meeting happens, we decide what we want to do from there, communicate that to the team, and then we start negotiations and make an offer. Usually that all happens over a week."

By Friday, several other early-stage investors had gone to Twitter to similarly trumpet term sheets signed and deals closed in Silicon Valley's new reality as a show of confidence to worried founders. Moore said that it is likely that "business will continue" — he said that he has been advising startups that need to fundraise to be cautious and well aware of the financing situation of the entire ecosystem.

"If you have the resources to do so, it's prudent to take a step back," Moore said. "In any seed company's case, they are inherently under-resourced and three are a lot of those companies that need to raise and have to do that now. That's the group of companies that are going to have to bear the brunt of what I expect to be indecisiveness while people are trying to figure out what's going on."

Firms like Kleiner Perkins, however, have plenty of dry powder at their disposal and aren't going to hold back on funding entirely. That won't be true at every VC firm, he said, and desperate founders should think long and hard about taking on unvetted investments or debt financing if they can avoid it. 

"Otherwise, just tighten your belts and keep your heads down building the company," he said.

Original author: Megan Hernbroth

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Mar
15

This $1,000 kitchen in a box can turn an SUV into an RV-like cooking station

Nomad Kitchen Co has unveiled its first pull-out kitchen unit that can turn a car trunk into a tiny kitchen on wheels.The unit includes a food preparation area, sink, and room for a two-burner stovetop.It can be attached to the trunk of a hatchback or SUV, as well as the bed of a pickup truck using extra hardware.Its maker claims the kitchen unit is good for camping, events, tailgates, and emergency use.Visit Business Insider's homepage for more stories.

Nomad Kitchen Co has unveiled its first pull-out kitchen unit that can be placed in the trunk of an SUV or hatchback to turn a car into a mini kitchen on wheels, optimal for both camping and emergency use.

The Berkeley, California-based company was founded on the idea that camping food doesn't have to be boring and bland, full of hot dogs and dry cereal. With Nomad Kitchen's two-burner stovetop unit that has a food preparation space and sink, campers are able to prepare more complex meals without having to sit and cook over a fire pit. 

The kitchen unit hides inside a 2.13-foot long box that can be hooked onto the trunk of a car, making the pull-out Nomad Kitchen accessible and easy to use, according to its maker.

Keep scrolling to see the portable Nomad Kitchen perfect for #VanLifers:

Original author: Brittany Chang

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Mar
15

Thought Leaders in E-Commerce: Uppler CEO Grégoire Chauvin (Part 4) - Sramana Mitra

Sramana Mitra: In a way, you’re doing PaaS, but I’m talking about something that’s slightly different. For example, Shopify is doing a very good job of this. They have a core e-commerce...

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Original author: Sramana Mitra

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Mar
15

50 classic and antique cars that were found in a Pennsylvania barn will be auctioned off by a YouTuber — see the whole collection

Fifty cars found in a barn in Pennsylvania are now going up for auction with the help of a YouTube channel specializing in antique cars and hot rods from the World War II era.The collection originally belonged to Larry Schroll, who died in 2018, and is now being auctioned off by his family.Most of the cars are still in drivable condition and will only require a small about of maintenance. Visit Business Insider's homepage for more stories.

Fifty cars were found in a barn in Pennsylvania in 2018, including Ford and Chevrolet cars built in the 1930s. Now, they're going up for auction.

The collection originally belonged to Larry Schroll, who spent the majority of his life collecting classic cars from swap meets while living in Pennsylvania. Schroll died in 2018 and his family inherited the estate, including his secret massive car collection.

The family knew they wanted to auction off the vehicles to avoid the negotiations that come with selling a classic car. They had an auctioneer selected, but the auctioneer told them that he wasn't a "car guy" and couldn't distinguish differences between the collection, Matt Murray of IronTrap Garage told Business Insider.

Overwhelmed by the collection of classic cars, Schroll's family decided to reach out to Murray, who runs the YouTube channel IronTrap Garage that focuses on antique cars and hot rods from the World War II era.

Murray is now helping the family batch the cars to auction off while advertising the collection on his social media, including his YouTube channel that has about 56,600 subscribers.

Keep scrolling to learn about the barn find:

Original author: Brittany Chang

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Mar
15

A historic California building that has been a restaurant, a home, and a setting for ghost stories is on the market for $3 million— see inside

Stokes Adobe, a home and former restaurant in Monterrey, California, is back on the market. The building is reportedly haunted, and has been attached to ghost stories since the tragic deaths of its early owners. The building has been empty since 2017, and the sellers are asking for $3 million.Visit Business Insider's homepage for more stories.

A historic, and possibly haunted, landmark is on the market in northern California.

The Stokes Adobe in Monterey, California was first built in 1833 as a single large room, and it's been expanded over the years since, SFGate reported.  Local legends and stories say that James Stokes, who bought the property in 1837, had a life filled with tragedy in the house. Stokes' past is unclear, but some say he was a British sailor who left his post, while others say that he stole medical supplies and impersonated a doctor.

In 1844, Stokes expanded the house, adding a second floor and several extra rooms, according to SFGate. In 1855, his wife Josefa died at only 39 years old. Within a few years, their oldest son drowned, and in 1864 James Stokes died by suicide, according to local papers.  

Despite the bad luck of its owners, the house was owned by several families until it became a restaurant in the 1950s, which saw Bob Hope, Frank Sinatra, and other celebrities as guests. More recently, the building was Restaurant 1833, an homage to the home's original construction date. Since the restaurant closed, the building has been empty for several years, and some past owners have said that the Stokes haunt the building. 

Now, 500 Hartnell St. is on the market asking $2.975 million, listed with Cicily Sterling at The Agency.

Take a look inside this historic building. 

Original author: Mary Meisenzahl

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Mar
15

5 reasons to start a company in a recession, according to Paul Graham, who founded Silicon Valley's most successful startup factory

In a 2008 essay, Paul Graham, one of the founders of Y Combinator, made the argument for starting a company in a bad economy.He believes that the state of the economy is inconsequential compared to the strength of the founding team."If we've learned one thing from funding so many startups, it's that they succeed or fail based on the qualities of the founders," Graham wrote in his 2008 essay. "The economy has some effect, certainly, but as a predictor of success it's a rounding error compared to the founders."Visit Business Insider's homepage for more stories.

About a month before Paul Graham wrote one of the first checks to Airbnb, at the peak of the global financial crisis, he wrote about why to start a company in a bad economy.

The essay was written in October 2008, but it has important lessons for aspiring founders during the coronavirus outbreak. Its effects on the markets represent the first economic crisis after a decade-long bull market, which could make it harder for startups to raise outside funds or hold onto customers.

Graham, one of the founders of Y Combinator, the most successful startup accelerator based on number of exits, explains that the right group of founders can build a thriving company in any conditions.

"It's the people that matter," Graham wrote. "And for a given set of people working on a given technology, the time to act is always now."

You can read the full essay on Graham's website.

Here are five reasons to start a company in a bad economy, according to Graham:

'The state of the economy doesn't matter much either way'

His essay makes the argument that, good or bad, the state of the economy is pretty inconsequential.

Paul Graham address a group of startup founders. Wikimedia Commons

"If we've learned one thing from funding so many startups, it's that they succeed or fail based on the qualities of the founders," Graham wrote. "The economy has some effect, certainly, but as a predictor of success it's a rounding error compared to the founders."

His advice to solo founders is to spend more time on the search for a cofounder. Their contribution has a greater effect on the company's outcome than the state of the economy, Graham said.

'Technology progresses more or less independently of the stock market'

An economic depression is probably not the best time to start a restaurant, as people are likely to eat out less.

The same logic doesn't apply to the technology sector, Graham said.

In his essay, Graham pointed to Microsoft's founding during the 1970s oil crisis as proof. Its first product was a programming language interpreter for an early personal computer, at the start of the personal computer craze.

"That was exactly what the world needed in 1975," Graham wrote, "but if (Bill) Gates and (Paul) Allen had decided to wait a few years, it would have been too late."

'Make things that save money'

An economic depression can be a great time to start company that helps customers save money.

"It's not necessarily a problem if customers feel pinched: You may even be able to benefit from it, by making things that save money," Graham wrote.

The founders of Airbnb almost shut down the business after struggling to raise venture capital. Georgie Wileman/Getty Images

Y Combinator graduate Airbnb provides a case study.

Airbnb's founders had failed to raise venture capital at the end of its first year and nearly called it quits. The startup, which was then called Airbed and Breakfast, entered the accelerator in a last-ditch attempt to save the business.

Graham said in a tweet on Thursday that "one of the reasons they started to grow during the winter was that, during the recession, hosted needed the money to pay their rent."

"Airbnb raised their first round of capital after YC at the worst possible time: March 2009, the month the market bottomed," Graham said in another tweet. "They raised at a pre-money valuation of $2.4 million. It didn't matter. They did fine, because they had made something people wanted."

There will still be jobs for great hackers

"What if you quit your job to start a startup that fails, and you can't find another? That could be a problem if you work in sales or marketing. In those fields it can take months to find a new job in a bad economy," Graham said.

"But hackers seem to be more liquid. Good hackers can always get some kind of job. It might not be your dream job, but you're not going to starve."

'Another advantage of bad times is there's less competition'

In bad times, Graham said founders who would start companies instead go to graduate school. The data suggest a record number of graduate business schools saw increases in the number of applications they received in 2008.

The departure of would-be founders is a good thing for those who are able to build companies.

"Technology trains leave the station at regular intervals," Graham wrote. "If everyone else is cowering in a corner, you may have a whole car to yourself."

Original author: Melia Russell

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Mar
14

Take Spring Break At Home For Two Weeks Starting Now

By this point, I expect everyone who reads this blog is extremely familiar with the phrases “flatten the curve” and “social distancing.” If not, read Coronavirus: Why You Must Act Now right now.

In the US, many schools are having spring break for a week sometime in the next two weeks. Ironically, it’s convenient timing for taking action that could dramatically flatten the curve.

What if we decided, as a nation, to take Spring Break at Home for the next two weeks. If you haven’t canceled your spring break trip, cancel it. Stay home with your family. Spend time together. If you’ve already taken spring break, extend the concept of it through the end of the month.

But, do it at home. In your house. With social distancing.

If you have a job where you can work from home (WFH), do it and don’t take the time off. Your company probably needs you more than ever right now. If you do take time off, figure out things that you and your family can do to help your local community. There are many people who can’t take time off, or will be suddenly unemployed hourly workers. Know that they will be impacted significantly.

Most of the US is a few weeks behind Seattle. Greg Gottesman wrote an excellent post the other day about A COVID-19 Response for Those WFH. Pay a lot of attention to your local businesses, which are a key thing that makes your city special to you. They are all going to be under massive distress with social distancing. Consider how you can help them during spring break. And know that if we don’t get ahead of this, we will likely end up in a situation like where France has had to close all restaurants, cafes, cinemas and clubs due to coronavirus, which seems like an extraordinary decision for a country and culture that loves to be out in public together.

If you are not involved with organizations like your local community foundation, explore that as part of your spring break. Community members who find themselves at the intersection of being most vulnerable to the virus and most impacted by inequity will need real help right now. Front-line caregivers will be under incredible stress. Find things to help (like we have in Boulder with the Covid-19 Response Fund) and contribute in some way to help keep your entire community healthy.

I talked to a new friend from Seoul yesterday and asked how he personally navigated through things. He said that he shifted from “thinking about himself to thinking about everyone else.” Whenever he thought about himself, he just got anxious and stressed. When he thought about everyone else, it motivated him to take action.

It sucks to cancel a family trip. It stinks to stop going out to your favorite restaurant. It’s a bummer that the sports events in the US were canceled (although I view it as incredibly leadership by our professional sports organizations.)

Take action. And know that every bit of action you take right now can help flatten the curve.

Original author: Brad Feld

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Mar
14

This startup got a meeting with Mark Suster by getting clever with Google ads

Startups have done some wild things to get the attention of VCs. In fact, Instacart founder Apoorva Mehta sent YC partner (at the time) Garry Tan a six-pack of beer through the service after missing the deadline for Y Combinator by two months.

Yesterday, the ingenuity of startups struck again.

Tadabase.io, an enterprise startup that offers no-code tools to help businesses automate their processes, has had an ad running that was… well, hyper targeted.

ProductHunt founder and WeekendFund investor Ryan Hoover discovered the ad and shared it on Twitter.

I google'd @msuster’s LinkedIn and this is what I found pic.twitter.com/ANMZ2dg6AD

— Ryan Hoover (@rrhoover) March 13, 2020

Hoover told TechCrunch he was Googling Mark Suster to facilitate an introduction between Suster and one of Hoover’s portfolio companies. Instead, he found a Google ad directed squarely at Suster from Tadabase.io.

“Mark Suster, you haven’t invested in nocode” read the paid listing. “Therefore, we put this ad here to get your attention. If you’re not Mark, please don’t click here and save us some money.”

I reached out to Suster, managing partner at UpFront Ventures, to see what he thought of the ad. He told me he “loved it” and has already contacted the CEO to set up a call for next week.

Whether this clever Google ad will result in an actual investment is yet to be determined. Also unclear: will Ryan Hoover get in on the deal?

I reached out to Tadabase founder and CEO Moe Levine via email to ask about the ad, how they went about targeting, and how he feels about his upcoming phone call next week. He hasn’t responded yet. I’ll update if/when he does.

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Mar
14

Colors: Basque Hermitage in the Valley - Sramana Mitra

I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I...

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Original author: Sramana Mitra

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Mar
14

Thought Leaders in E-Commerce: Uppler CEO Grégoire Chauvin (Part 3) - Sramana Mitra

Sramana Mitra: Put in perspective what’s happening in the set of companies like Shopify and BigCommerce that enable individual e-commerce sites. They seem to be doing very well, which means their...

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Original author: Sramana Mitra

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Mar
13

Joint Statement by Colorado High-Tech Companies on COVID-19

I’ve been involved with a number of leaders in the Colorado tech community since Wednesday morning as we’ve aggressively mobilized to address the Covid-19 crisis.

Following is a joint statement that a bunch of us have signed on to. A group of us are working quickly to create more mechanisms for a coordinated response, collective action, funding for critical resources, and ideas for things to do that will have a positive impact.

Huge kudos to Bryan Leach at iBotta and Rachel Carlson at Guild Education for providing urgent and effective leadership here.

We are leaders of 35 different technology companies with headquarters or offices in the Denverand Boulder metro areas. This week, our companies stepped up efforts to prevent the spreadof COVID-19 here in Colorado and beyond. Reflecting the spirit of collaboration thatcharacterizes our startup community, we all came together as a group, shared best practices,and agreed to take the following decisive actions in the interest of protecting the mostvulnerable members of our community:

First​, we are strongly encouraging the majority of our workers to work from home as soon as possible, leaving behind the minimum possible in-office presence. Second​, we are restricting work travel by our employees, both domestically and internationally. We are also strongly advising our employees to be thoughtful about all personal travel, particularly where they would be congregating in larger groups. Third​, we ​are moving all clients, visitors, and interviews to remote only meetings and not currently welcoming onsite visitors. Fourth​, wherever possible we are strongly encouraging our vendors, service providers and partner businesses to take similar precautions. Fifth​, we are each consulting with our teams to find ways of supporting our local healthcare workers by helping to purchase critical medical resources, such as additional tests and protective equipment, and supporting the work of​ local nonprofit organizations that are helping at-risk communities who will be severely impacted by this pandemic. Finally​, we are calling on government officials and other business leaders to restrict large group gatherings, including in the largest entertainment venues along the Front Range.

Why are we taking these unprecedented steps? The spread of COVID-19 is past the point of containment. Without​ swift action, we may soon witness the failure of our healthcare system’s capacity to deal with the virus’s complications. Our healthcare system is not built to handle enormous loads of critically ill people all at once. Therefore, we urgently need to flatten the curve of disease transmission to prevent unnecessary deaths. Wuhan City had 4.3 hospital beds per thousand people. In the United States, we have 2.8. There are not enough health care providers to care for all the sick. There are fewer than 100,000 full ventilators in the US. We are already seeing this play out with tragic consequences in Italy, where the mortality rate is shockingly high, as their healthcare system has struggled to keep pace with the sudden crushing load of hospitalized patients, leading to otherwise preventable deaths.

Our actions alone will not be enough, and we cannot wait for our government agencies andelected officials to mandate these restrictions. Every hour counts. We therefore call on othersin Colorado — and in other startup communities across the country — to follow our lead andimplement these procedures, effective immediately.

Signed:

Bryan Leach, Founder and CEO, Ibotta
Brad Feld, Partner, Foundry Group
David Brown, CEO, Techstars
Sameer Dholakia, CEO, Twilio SendGrid
Ben Wright, CEO, Velocity Global
Jake Bolling, CEO, Skupos
Bart Lorang, CEO, FullContact
Conor Swanson, Co-Founder, Code-Talent
John Levisay, Founder & CEO, Bluprint
Matt Talbot, CEO, GoSpotCheck
Joni Klippert, CEO, StackHawk
Rajat Bhargava, CEO, JumpCloud
Fred Kneip, CEO, CyberGRX
Brent Handler, CEO, Inspirato
Lee Mayer, CEO, Havenly
Brett Jurgens, CEO, Notion
Walter Knapp, CEO, Sovrn
Brian Egan, CEO, Evolve Vacation Rental
Chris Cabrera, Founder & CEO, Xactly Corporation
David Levin, Co-Founder & CEO, Four Winds Interactive
Matthew Glotzbach, CEO, Quizlet
Nick Martin, CEO, The Pro’s Closet
Seth Levine, Partner, Foundry Group
Stewart McGrath, CEO, Section
Matthew Klein, CEO, Backbone
Carm Huntress, CEO, RxRevu
Mike Gionfriddo, CTO, Pie Insurance
Paul Berberian, CEO, Sphero
Joshua Reeves, CEO, Gusto
Chris Klein, CEO, Rachio
Mark Frank, CEO, SonderMind
Pete Holst, CEO, Oblong
Rachel Carlson, CEO, Guild Education
Josh Dorsey, Managing Director, Silicon Valley Bank
Amit Shah, VP Operations, Virta Health

Original author: Brad Feld

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Mar
13

Glisten uses computer vision to break down product photos to their most important parts

It’s amazing that in this day and age, the best way to search for new clothes is to click a few check boxes and then scroll through endless pictures. Why can’t you search for “green patterned scoop neck dress” and see one? Glisten is a new startup enabling just that by using computer vision to understand and list the most important aspects of the products in any photo.

Now, you may think this already exists. In a way, it does — but not a way that’s helpful. Co-founder Sarah Wooders encountered this while working on a fashion search project of her own while going to MIT.

“I was procrastinating by shopping online, and I searched for v-neck crop shirt, and only like two things came up. But when I scrolled through there were 20 or so,” she said. “I realized things were tagged in very inconsistent ways — and if the data is that gross when consumers see it, it’s probably even worse in the backend.”

As it turns out, computer vision systems have been trained to identify, really quite effectively, features of all kinds of images, from identifying dog breeds to recognizing facial expressions. When it comes to fashion and other relatively complex products, they do the same sort of thing: Look at the image and generate a list of features with corresponding confidence levels.

So for a given image, it would produce a sort of tag list, like this:

As you can imagine, that’s actually pretty useful. But it also leaves a lot to be desired. The system doesn’t really understand what “maroon” and “sleeve” really mean, except that they’re present in this image. If you asked the system what color the shirt is, it would be stumped unless you manually sorted through the list and said, these two things are colors, these are styles, these are variations of styles, and so on.

That’s not hard to do for one image, but a clothing retailer might have thousands of products, each with a dozen pictures, and new ones coming in weekly. Do you want to be the intern assigned to copying and pasting tags into sorted fields? No, and neither does anyone else. That’s the problem Glisten solves, by making the computer vision engine considerably more context-aware and its outputs much more useful.

Here’s the same image as it might be processed by Glisten’s system:

Better, right?

“Our API response will be actually, the neckline is this, the color is this, the pattern is this,” Wooders said.

That kind of structured data can be plugged far more easily into a database and queried with confidence. Users (not necessarily consumers, as Wooders explained later) can mix and match, knowing that when they say “long sleeves” the system has actually looked at the sleeves of the garment and determined that they are long.

The system was trained on a growing library of around 11 million product images and corresponding descriptions, which the system parses using natural language processing to figure out what’s referring to what. That gives important contextual clues that prevent the model from thinking “formal” is a color or “cute” is an occasion. But you’d be right in thinking that it’s not quite as easy as just plugging in the data and letting the network figure it out.

Here’s a sort of idealized version of how it looks:

“There’s a lot of ambiguity in fashion terms and that’s definitely a problem,” Wooders admitted, but far from an insurmountable one. “When we provide the output for our customers we sort of give each attribute a score. So if it’s ambiguous, whether it’s a crew neck or a scoop neck, if the algorithm is working correctly it’ll put a lot of weight on both. If it’s not sure, it’ll give a lower confidence score. Our models are trained on the aggregate of how people labeled things, so you get an average of what people’s opinion is.”

The model was initially aimed at fashion and clothing in general, but with the right training data it can apply to plenty of other categories as well — the same algorithms could find the defining characteristics of cars, beauty products and so on. Here’s how it might look for a shampoo bottle — instead of sleeves, cut and occasion you have volume, hair type and paraben content.

Although shoppers will likely see the benefits of Glisten’s tech in time, the company has found that its customers are actually two steps removed from the point of sale.

“What we realized over time was that the right customer is the customer who feels the pain point of having messy unreliable product data,” Wooders explained. “That’s mainly tech companies that work with retailers. Our first customer was actually a pricing optimization company, another was a digital marketing company. Those are pretty outside what we thought the applications would be.”

It makes sense if you think about it. The more you know about the product, the more data you have to correlate with consumer behaviors, trends and such. Knowing summer dresses are coming back, but knowing blue and green floral designs with 3/4 sleeves are coming back is better.

Glisten co-founders Sarah Wooders (left) and Alice Deng

Competition is mainly internal tagging teams (the manual review we established none of us would like to do) and general-purpose computer vision algorithms, which don’t produce the kind of structured data Glisten does.

Even ahead of Y Combinator’s demo day next week the company is already seeing five figures of monthly recurring revenue, with their sales process limited to individual outreach to people they thought would find it useful. “There’s been a crazy amount of sales these past few weeks,” Wooders said.

Soon Glisten may be powering many a product search engine online, though ideally you won’t even notice — with luck you’ll just find what you’re looking for that much easier.

(This article originally had Alice Deng quoted throughout when in fact it was Wooders the whole time — a mistake in my notes. It has also been updated to better reflect that the system is applicable to products beyond fashion.)

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Mar
13

FitnessAI races past $1M ARR heading into YC Demo Day

Y Combinator’s Demo Day is a key soirée on the startup calendar. This year, however, instead of a packed room replete with short pitches and lackluster catering, Demo Day has gone virtual. Even more, it was moved up by a week, pushing the public debut of a host of companies to this coming Monday.

TechCrunch will be covering it closely, so make sure to stick around the site for notes and interviews. But who wants to wait that long? I’ve gotten to know one of the pitching startups, FitnessAI, over the past few weeks. Let’s take a look at its business.

FitnessAI

FitnessAI is a mobile application that helps users lift weights, helping them set new goals, gain strength over time and avoid frustration while dodging burnout.

The company was founded by Jake Mor in 2019, leveraging a workout data set that Mor had previously collected. Mor told TechCrunch that in college he built a tool called Lift Log (you can find it on the App Store here). That app was “just a very simple weightlifting tracking tool,” Mor said, but “over the course of three years over 40,000 users logged 6 million workouts.”

That huge set of workout data points helped Mor construct FitnessAI’s core weight-lifting algorithm.

Peering through his mountain of data, Mor said that he was able to discern “the perfect rate of progression for each exercise.” Regular progression isn’t a nice to have, according to Mor, but a key way to keep people in the gym (and using his service), saying that he’s found that breaking personal records “makes working out a little bit more addicting, and more motivating to keep going back to the gym.”

But data isn’t the full story to FitnessAI, despite it featuring “AI” in its name. During the life of his company, Mor found that a human touch was key to keeping users engaged. He told TechCrunch that lots of folks are self-conscious about going to the gym and working out in its environment, so while he was “so busy working on [the] algorithm” that powers the company’s service, “what users cared most about was tutorials.”

The helping hand of crafted guides and human outreach work together with the app’s code to keep people engaged. According to Mor, his team “will reach out to every single user if you don’t go to the gym,” adding that “half of fitness AI is the human touch.”

So from a data set to an algorithm to a mobile app to a guided weight-lifting experience, FitnessAI has gotten a lot done in the last year or so. And it has done so while largely self-funding.

Money

To date, the company told TechCrunch that it has bootstrapped, apart from its standard Y Combinator check. That said, it’s looking to raise during the Demo Day cycle.

How has it gotten to where it is today on such little capital? By growing its revenues and paying for its own development. Indeed, the mobile app company is now north of $100,000 monthly recurring revenue (MRR), giving it annual recurring revenue (ARR) of more than $1.2 million. For a team of four today that was 1.5 not too long ago, that’s lots of cash.

But with more money comes more opportunities for product improvements, and go-to-market work. What FitnessAI has shown so far is that people need help lifting, and they are willing to pay for assistance. (FitnessAI has a number of price points, but costs a little less than $100 yearly, looking at its App Store listing today.)

More after Demo Day if FitnessAI raises the round it’s hunting for.

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