Preparing Staff for the Shift to Clean Energy

Posted on December 16, 2023 by Igor Mitreski

clean innovation Technology and renewable energy are moving quickly, maybe a little too fast.

While there is no shortage of clean technology solutions available in today’s market (and we are developing them for the future), a new problem is emerging: a lack of talent to install and maintain the technology.

According to one study, the clean technology industry is expected to create 8 million jobs by the end of 2030. recent reports By the International Energy Agency. These numbers are clearly based on current policies, and the report’s authors expect these numbers to rise as more resources are directed to the clean energy transition. But just because more jobs are created doesn’t mean there are enough trained people to fill them.

Berlin-based Montamo wants to solve this problem. The startup hires and trains people to install and maintain sustainable heat pumps. We train people new to the industry, provide upskilling training to those with some experience, and have our employees install and maintain other companies’ equipment. As the company grows, it hopes to expand into other areas such as solar power generation.

Co-founder Alexander Boehm told TechCrunch+. Boehm said the company wants to be intentional about hiring and training migrant workers because it is difficult for immigrants to get good jobs in Germany, regardless of their skills or background. This is something Boehm witnessed firsthand when he worked as operations director for fast grocery delivery startup Gorillaz, and he doesn’t want their skills to go to waste.

Source: techcrunch.com

Interview with Ken Goldberg: Robotics Expert from UC Berkeley

Posted on December 16, 2023 by Igor Mitreski

In the coming weeks, TechCrunch’s robotics newsletter, Actuator, will feature Q&As with some of the top people in robotics. Subscribe here for future updates.

Part 1: Matthew Johnson Roberson of CMU
part 2: Max Bajracharya and Russ Tedrake of Toyota Research Institute
Part 3: Dhruv Batra in Mehta
Part 4: Aaron Sanders of Boston Dynamics

Ken Goldberg is a professor at the University of California, Berkeley, the William S. Floyd Jr. Distinguished Chair in Engineering, and co-founder and principal scientist of a robotic package sorting startup. He is ambidextrous and a Fellow of the IEEE.

What role will generative AI play in the future of robotics?

Although the rumors started a little early, 2023 will be remembered as the year generative AI transformed robotics. Large-scale language models like ChatGPT allow robots and humans to communicate in natural language. Words have evolved over time to express useful concepts, from “chair” to “chocolate” to “charisma.” Robotics engineers have also discovered a great visual language.action The model facilitates robot recognition and can be trained to control the robot’s arm and leg movements. Training requires vast amounts of data, so labs around the world are now collaborating and sharing data. The results continue to emerge, and although there are still open questions about generalizability, the impact will be profound.

Another interesting topic is “multimodal models” in two senses of multimodal.

Multimodal, combining different input modes such as visual and verbal. This has now been expanded to include tactile and depth sensing, as well as robotic actions.

Multimodal in that it allows different actions depending on the same input state. This is surprisingly common in robotics. For example, there are many ways to grasp objects. Standard deep models “average” these grasp actions, which can produce very poor grasps. One of his very attractive methods for preserving multimodal actions is Diffusion Policies, currently developed by Shuran Song at Stanford University.

What do you think about the humanoid form factor?

I’ve always been skeptical of humanoid and legged robots because they can be too sensational and inefficient, but after seeing the latest humanoid and quadrupedal robots from Boston Dynamics, Agility, and Unitree, I reconsidered. Tesla has the engineering skills to develop low-cost motor and gear systems at scale. Legged robots have many advantages over wheels when navigating steps, debris, and rugs in homes and factories. Although two-handed (two-armed) robots are essential for many tasks, I still believe that a simple gripper is more reliable and cost-effective than his five-fingered robot hand.

What will be the next major category of robots after manufacturing and warehousing?

After the recent union wage settlement, I think we’ll see even more robots in manufacturing and warehouses than we do now. Recent advances in self-driving taxis have been impressive, especially in San Francisco, where driving conditions are more complex than in Phoenix. But I’m not convinced they are cost effective. For robot-assisted surgery, researchers are exploring “enhanced dexterity,” or the ability of robots to improve surgical skills by performing low-level subtasks such as suturing.

How far have true general-purpose robots evolved?

I don’t think we’ll see true AGI or general-purpose robots in the near future. No roboticist I know is worried about robots taking their jobs or taking over.

Will household robots (beyond vacuum cleaners) become commonplace within the next 10 years?

I predict that within the next 10 years, we’ll see affordable household robots that can pick up clothes, toys, trash, etc. from the floor and put them in the appropriate bins. Like today’s vacuum cleaners, these robots will occasionally make mistakes, but the benefits to parents and seniors will likely outweigh the risks.

What are some important robotics stories/trends that aren’t getting enough coverage?

Robot motion planning. This is one of the oldest subjects in robotics and is how to control the joints of motors to move robotic tools and avoid obstacles. Many people think that this problem has been resolved, but it is not resolved yet.

Robotic “singularity” is a fundamental problem for all robotic arms. They are very different from Kurzweil’s hypothetical point at which AI will surpass humans. A robot singularity is a point in space where the robot stops unexpectedly and must be manually reset by a human operator. The singularity arises from the calculations required to convert the desired linear motion of the gripper into the corresponding motion of each of his six robot joints and her motors. At certain points in space, this transformation becomes unstable (similar to a divide-by-zero error) and the robot must be reset.

For repetitive robot motions, singularities can be avoided through tedious manual fine-tuning to adjust the repetitive robot motions to avoid encountering singularities. Once a behavior like this is determined, it is repeated over and over again. However, singularities are common in a growing generation of applications where robot movements are non-repetitive, such as palletizing, bin picking, order processing, and package sorting. These are well-known fundamental problems because they disrupt the robot’s operation at unexpected times, often several times an hour. I co-founded a new startup, Jacobi Robotics. Implement efficient algorithms that are “guaranteed” to avoid singularities. This significantly increases the reliability and productivity of all robots.

Source: techcrunch.com

Google takes steps to eliminate geofencing warrants, a surveillance issue largely created by the company itself

Posted on December 16, 2023 by Igor Mitreski

Google will soon This allows users to store their location data on their devices rather than on Google’s servers, allowing police and law enforcement to tap into Google’s vast bank of location data to identify potential criminals. We were able to effectively put an end to years of surveillance practices that allowed eavesdropping.

The use of so-called “geofencing warrants” has exploded in recent years, largely due to the proliferation of smartphones and the ability of data-hungry companies like Google to siphon and store vast amounts of users’ location information. This is due to the fact that it is now possible to obtain it by law. Request for enforcement.

Police can use geofence warrants (also known as reverse location warrants) to ask Google to hand over information about whether a user’s device was in a particular geographic area at a particular time.

But critics argue that geofencing warrants are unconstitutional and inherently overbroad. This is because these requests often include information about completely innocent victims. nearby when the crime was committed.flat Courts cannot agree on whether geofencing warrants are legal which could ultimately be challenged in the U.S. Supreme Court.

This week’s Google announcements I didn’t mention geofencing warrants. Specifically, it only says that users will have “more control” over their data by storing location data on their devices. In effect, this move would result in police seeking a search warrant to access that specific device, rather than requesting the data from Google.

Although Google is not the only company targeted by geofencing warrants, it is the largest collector of sensitive location data and the first company to be intercepted.

The act of police eavesdropping on users’ location data to Google is revealed for the first time Google has long relied on user location data to power its advertising business, which generated about 80% of Google’s annual revenue, or about $220 billion, in 2022 alone.

However, in reality, this surveillance technique is believed to be much more widespread. Law enforcement agencies have since expanded location data requests to other companies. Microsoft and Yahoo (which owns TechCrunch) are known to have received geofencing warrants, but neither company has yet disclosed how many requests for user location data they receive.

The number of lawsuits related to geofencing requirements has increased rapidly in recent years.

Police in Minneapolis used geofencing warrants to identify individuals who participated in protests following the killing of George Floyd. The 2022 overturn of Roe v. Wade will allow law enforcement in states where access to abortion care is restricted or where it is illegal to seek an abortion to identify people seeking care. Concerns were raised about the potential use of geofence warrants. Lawmakers later called on Google to stop collecting location data, saying it could be used to identify people seeking abortions.

The companies have said little about the number of geofence warrants they receive, but last year Google, Microsoft and Yahoo supported a New York bill that would ban the use of geofence warrants statewide. This bill failed to become law.

Google has not disclosed how many geofencing warrants it has received in recent years. Google has released its latest (and only) disclosure about the number of geofence warrants it received in 2021, following pressure to release the numbers following growing criticism of its surveillance practices.

According to the data, Google received 982 geofence warrants in 2018, 8,396 geofence warrants in 2019, and 11,554 geofence warrants in 2020. This represents about a quarter of all legal claims received by Google. Although the disclosure is limited, it provides a first glimpse into the surging number of such requests, but Google is concerned about how often the search giant pushes back against legal requests for its users’ location data. Or, if there was, they didn’t mention it.

News that Google will soon move your location data to your devices drew cautious praise.

The Electronic Frontier Foundation, which challenged the constitutionality of geofencing warrants in court, said: in a blog post “At least for now, we intend to take this as a victory.” But EFF pointed out that there are other ways for Google to hand over users’ sensitive personal data. Law enforcement agencies use a similar legal request, called a “reverse keyword” warrant, to identify Google accounts that searched for specific keywords in time, such as before a crime was committed. Google has not said whether it plans to close a loophole that allows police and law enforcement agencies to issue so-called “reverse keyword” warrants for users’ search queries.

Geofencing warrants won’t disappear overnight. Google still maintains a vast bank of historical location data, which law enforcement can access at any time until Google determines it no longer needs to be retained. And while tech companies store large amounts of user location data, they may also be subject to similar legal claims.

But the hope is that by closing the door on geofencing warrants, Google could significantly reduce this surveillance loophole, at least going forward.

in Latest transparency report In 2022, Apple announced that it received 13 geofencing warrants requesting customer location data, but did not provide any data in return. Apple said it has “no data to provide in response to geofencing requests” because the data resides on the user’s device and cannot be accessed.

Source: techcrunch.com

Tesla Announces Recall of Over 2 Million Cars in the US Due to Autopilot Safety Concerns | Science and Technology Update

Posted on December 16, 2023 by Igor Mitreski

Tesla is recalling more than 2 million vehicles in the United States over concerns about its advanced driver assistance system, Autopilot.

The National Highway Traffic Safety Administration (NHTSA) said the system’s methods of determining whether drivers are paying attention may be inadequate and could lead to “foreseeable abuse of the system.”

NHTSA is investigating Elon Musk’s Over two years, the company has suffered a series of crashes, some fatal, that occurred while using the Autopilot system.

tesla He said Autopilot’s software system controls “may not be sufficient to prevent driver misuse” and could increase the risk of a crash.

Tesla’s Autopilot is intended to allow the car to automatically steer, accelerate, and brake within the line, but while the enhanced Autopilot can assist with lane changes on the highway, self-driving It won’t be.

One of the Autopilot components is Autosteer, which maintains a set speed or following distance and works to keep the vehicle within its lane of travel.

Tesla disagrees with NHTSA’s analysis, but notes that “additional controls and warnings already exist in affected vehicles to further encourage drivers to comply with ongoing driving responsibilities each time Autosteer engages.” “We will deploy an over-the-air software update that incorporates this.” “I’m engaged.”

The update says it includes increased prominence of visual alerts on the user interface, easier activation and deactivation of Autosteer, and additional checks when Autosteer is activated.

Tesla added that the update will eventually result in a driver’s use of Autosteer being suspended if the driver “repeatedly fails to demonstrate continued and sustained driving responsibility while the feature is activated.” .

read more:
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The recall applies to models Y, S, 3, and X produced between October 5, 2012 and December 7 of this year.

The update was expected to be sent to some affected vehicles on Tuesday, with the remaining vehicles sent out later.

NHTSA will continue its investigation into Autopilot “to monitor the effectiveness of Tesla’s remedies,” the agency said.

Since 2016, regulators have investigated 35 Tesla crashes in which the vehicles were suspected of being driven on automated systems. At least 17 people were killed in the clashes.

It is unclear whether this recall affects Tesla vehicles in other countries, including the UK.

This is the second time this year Tesla recalls its vehicles In the United States.

Source: news.sky.com

An Interview with Nvidia’s Deepu Talla on Robotics Technology

Posted on December 16, 2023 by Igor Mitreski

A version of this Q&A first appeared in Actuator, TechCrunch’s free robotics newsletter. Subscribe here.

We conclude our year-end robotics Q&A series with this entry by Deepu Talla. In October, he visited NVIDIA’s Bay Area headquarters. Talla has served as Vice President and General Manager of Embedded & Edge Computing for this leading chip company for over 10 years. He provides unique insight into the current state and future direction of robotics in 2023. Over the past few years, NVIDIA has established the leading platform for robotics simulation, prototyping, and deployment.

Previous Q&A:

Image credits: Nvidia

What role will generative AI play in the future of robotics?

We are already seeing productivity gains from generative AI across a variety of industries. It is clear that the impact of GenAI will be transformative across robotics, from simulation to design and more.

Simulation: Models can now accelerate simulation development by bridging the gap between 3D technical artists and developers by building scenes, building environments, and generating assets. These GenAI assets will see increased use in synthetic data generation, robotic skill training, and software testing.
Multimodal AI: Transformer-based models improve robots’ ability to better understand the world around them, allowing them to operate in more environments and complete complex tasks.
Robot (re)programming: Improves the ability to define tasks and functions in a simple language to make robots more versatile/multipurpose.
Design: Novel mechanical designs (end effectors, etc.) to improve efficiency.

What do you think about the humanoid form factor?

Designing autonomous robots is difficult. Humanoids are even more difficult. Unlike most of his AMRs, which primarily understand floor-level obstacles, humanoids are locomotion manipulators that require multimodal AI to have a deeper understanding of their surrounding environment. It requires a huge amount of sensor processing, advanced control, and skill execution.

Breakthroughs in generative AI capabilities for building foundational models are making the robotic skills needed for humanoids more commonplace. In parallel, we are also seeing advances in simulation that can train AI-based control and perception systems.

What will be the next major category of robots after manufacturing and warehousing?

Markets where companies are feeling the effects of labor shortages and demographic changes will continue to coincide with corresponding robotic opportunities. This spans robotics companies across a variety of industries, from agriculture to last-mile delivery to retail and more.

The main challenge in building various categories of autonomous robots is building the 3D virtual world needed to simulate and test the stack. Again, generative AI helps by allowing developers to build realistic simulation environments faster. Integrating AI into robotics will enable greater automation in environments that are less active and “robot friendly.”

How far have true general-purpose robots evolved?

We continue to see robots becoming more intelligent and able to perform multiple tasks in a given environment. We hope to continue to focus on mission-specific issues while making it more generalizable. True universal embodied autonomy is even further afield.

Will household robots (beyond vacuum cleaners) become commonplace within the next 10 years?

We plan to make useful personal assistants, lawn mowers, and robots available for joint use to assist the elderly.

The trade-offs that have hampered home robots so far are between how much someone will pay for their robot and whether the robot provides that value. Robot vacuums have long offered value for their price point, which is why they’re growing in popularity.

And as robots become smarter, having an intuitive user interface will be key to increasing adoption. Robots that can map their environment and receive voice commands will be easier for home consumers to use than robots that require programming.

The next category to take off will likely focus on things like automated outdoor lawn care. Other domestic robots, such as personal/healthcare assistants, also hold promise, but must address some of the indoor challenges encountered in dynamic, unstructured home environments.

What are some important robotics stories/trends that aren’t getting enough coverage?

The need for a platform approach. Many robotics startups are unable to scale because they develop robots suited to specific tasks or environments. For large-scale commercial realization, it is important to develop more versatile robots. That is, robots that can quickly add new skills or bring existing skills to new environments.

Robotics engineers need a platform with tools and libraries to train and test AI for robotics. The platform should provide simulation capabilities to train models, generate synthetic data, run the entire robotics software stack, and be able to run modern generative AI models directly on the robot.

Tomorrow’s successful startups and robotics companies will need to focus on developing new robotic skills and automation tasks, and take full advantage of available end-to-end development platforms.

Source: techcrunch.com

“GCHQ Unveils Most Challenging Christmas Code-Breaking Task Yet” – UK News

Posted on December 16, 2023 by Igor Mitreski

Schoolchildren across the country will put their puzzle-solving skills to the test after Britain’s spy agency launches its annual Christmas challenge.

GCHQ sent out Christmas cards to more than 1,000 secondary schools with the challenge featuring a rare image of Bletchley Park covered in snow on the front.

It includes seven increasingly complex puzzles that test skills such as code-breaking, math and analysis, encouraging students to work together as a team to uncover the final congratulatory message.

It also includes a math-based bonus puzzle that is said to be the most difficult ever.

Anne Keast-Butler, Director of GCHQ, said: “Puzzle has been at the heart of GCHQ since the beginning.

“These skills represent our historical roots in cryptography and cryptography and remain critical to our modern mission to keep our nation safe.

“GCHQ’s history at Bletchley Park is represented in this year’s Christmas card as a reminder of the role this historic site played in the wartime effort and as the home of this year’s AI Safety Summit.

“Our puzzle enthusiasts have created challenges designed to combine different types of thinking to solve them. Whether you’re an analyst, engineer, or creative, there’s a puzzle for everyone. This is something that classmates, family, and friends will try to solve. Together.”

Bletchley Park was the wartime home of GCHQ and the remarkable image, taken in January 1940, was discovered in the personal family album of Joan Wingfield, who worked to decipher the Italian Naval Code.

Now in its third year, the challenge aims to provide insight into GCHQ’s work and encourage young people to study Stem subjects.

Now for the answer – how many did you get right?

Source: news.sky.com

“Study suggests Neanderthal DNA might be linked to being a morning person” – UK Researchers

Posted on December 16, 2023 by Igor Mitreski

Have you ever wondered why your partner stays awake with a lark while you doze happily until noon?

According to new research, it could be thanks to Neanderthal genes.

The origins of modern humans can be traced back to Africa 300,000 years ago, but as these ancestors migrated north, they interbred with Neanderthals, and traces of their DNA can still be seen in people today. .

The study’s lead author, John Capra, an epidemiologist at the University of California, San Francisco, said scientists who compared ancient DNA to modern human genetics found “remarkable trends.”

They found that many of the remaining Neanderthal genes influence our body clocks and “increase our tendency to be morning people.”

Neanderthals lived at higher latitudes and farther from the equator than our African ancestors, experiencing longer days in the summer and shorter days in the winter.

Genes that make people wake up earlier “are likely able to adjust their circadian clocks more quickly to changing seasonal light patterns,” Dr. Capra said, which is why Neanderthals maximized daylight hours for hunting. He was able to utilize it to a limited extent.

Scientists have previously investigated how the circadian rhythms of insects, plants and fish have evolved with latitude. However, it has not been well studied in humans.

Read more from Sky News:
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Geminid meteor shower peaks across UK – how to watch

Researchers wanted to see if there was a genetic reason for the differences in circadian rhythms between Neanderthals and modern humans, and found 16 mutations associated with greater “morningness”, or the tendency to rise early. .

They reasoned that because Neanderthals interbred with the ancestors of modern humans, modern humans may have inherited Neanderthal “circadian mutations.”

To test this, scientists analyzed the genes of hundreds of thousands of people in the UK Biobank and discovered a number of mutations that affect sleep preferences.

“Most surprisingly, we found that these mutants consistently increased morningness,” the researchers said.

This is consistent with what has been found in other animals that adapted to life at high latitudes, such as Neanderthals.

The study was published in Genome Biology and Evolution.

Source: news.sky.com

Ofcom investigates TikTok for lack of parental control information | Science and Technology News

Posted on December 16, 2023 by Igor Mitreski

Ofcom has initiated an inquiry into TikTok to determine if it provided false information about parental controls.

The UK’s media regulator has requested details from Chinese-owned apps and other online video platforms like Snapchat, to report on measures taken to protect children.

While they were generally commended for their efforts, Ofcom stated that it had “reasons to believe” that TikTok provided “inaccurate” information about the family pairing system.

This feature allows adults to link their account to their child’s account and control settings such as screen time limits.

Ofcom will now investigate whether the company “failed in its obligations” by not taking appropriate action.

TikTok attributed the issue to a technical problem, and Ofcom said it is aware and will provide the necessary data.

A spokesperson mentioned that the platform enforces an age requirement of 13 years and that the report notes the platform’s significant effort and resources in locating and removing underage users.

Ofcom’s report is the first in two years following guidance on video sharing apps about how to protect young users from encountering harmful content.

YouTube and Facebook were not covered in the report as they fall under Irish jurisdiction, a result of EU rules that the UK continues to follow, despite leaving the EU gradually through the online safety bill.

An Ofcom report published on Thursday found that TikTok, Snapchat, and Twitch all met the requirements set out two years ago.

All three platforms categorize and label content to ensure it is age-appropriate.

However, while Snapchat and TikTok offer parental controls, Twitch requires parents to supervise their children in real time as per its terms of service.

Ofcom stated that although steps were being taken to protect young users, “victims can still be victimized while using these platforms”.

Source: news.sky.com

Pope Francis advocates for global oversight of artificial intelligence | Science and Technology

Posted on December 16, 2023 by Igor Mitreski

Pope Francis has voiced support behind calls for regulation of AI.

pope With the annual World Peace Day message, artificial intelligence Safely developed and ethically used.

He warned that the technology lacks human values such as compassion and morality, and could blur the line between what is real and what is fake.

The Pope should know, considering he was the subject of some of the most infamous AI-generated images of 2023.

In March, he was photographed wearing a stylish down jacket, leaving social media in awe.

This surreal image created using the AI tool Midjourney was certainly too good to be true.

how Chat GPT Generating text content allows users to request images using a simple prompt.

The fake photo originated on Reddit and was shared tens of millions of times on social media, fooling people, including celebrities, and becoming one of the first major examples of AI-powered misinformation at scale.

This week: British charity Full Fact highlighted another false image of FranciscoThe photo showed him addressing a large crowd in Lisbon earlier this year.

Pope shares his biggest concerns about AI

Cardinal Michael Czerny, director of the Vatican Development Authority, shared the pope’s concerns in a written statement.

“The biggest risk is dialogue,” he said.

“Because without truth there can be no dialogue, and without responsibility there can be no truth.”

The Pope said the regulatory priorities are to prevent disinformation, discrimination and distortion, promote peace and guarantee human rights.

read more:
How the confusion arose in the creators of ChatGPT
The first year of the chatbot that changed the world

His intervention was a few days later. EU reaches agreement on how to regulate AIwhich covers generation tools such as Midjourney and ChatGPT, but will not come into effect until 2025 at the earliest.

joe biden us president The White House announced its own proposal in OctoberThis included the possibility of requiring AI-generated content to be watermarked.

In Britain, the Prime Minister Rishi Sunak They are becoming more cautious about AI laws, arguing they risk stifling innovation.

Source: news.sky.com

Naughty Dog, the developer of ‘The Last of Us,’ cancels their next game: Science and Technology Update

Posted on December 16, 2023 by Igor Mitreski

The next game in the popular “The Last Of Us” series has been cancelled.

Developer Naughty Dog said it had made an “incredibly difficult decision”, recognizing that the scope of the project would negatively impact other future titles.

The studio said in a blog post that it knows “this news will be tough” for fans and added that they are “equally devastated.”

Unlike previous releases, playstation The studio is known for single-player, story-driven blockbusters, but the canceled game was an online multiplayer experience.

Similar to titles like call of duty and fortnite updated regularly to keep players coming back.

Naughty Dog said it is “enthusiastic about the direction” of the project, but that supporting it post-launch risks “significantly impacting the development of future single-player games.”

It said such a game, such indiana jones-Like the Uncharted series, it “defined the Naughty Dog tradition.”

A studio committed to single-player roots

The studio has dabbled in multiplayer in the past, but only as an additional play mode.

First released in 2013, The Last Of Us had a popular online experience called Factions that pitted players against each other in competitive shooting matches.

It was also slated to be part of 2020’s The Last Of Us: Part II before Naughty Dog decided to spin it off and release it as a separate release, but it’s now canned .

“I’m extremely proud of everyone at the studio who worked on this project,” the blog post added.

“The technology learnings and investments from this game will be reflected in our project development and will be invaluable in the direction we are heading as a studio.”

read more:
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What’s next?

Naughty Dog’s next release is the PlayStation 5 re-release of The Last Of Us: Part II, scheduled for January.

The company’s games have been well-received by critics, but the company has released three versions of the original between 2013 and 2022, and has been criticized for milking the post-apocalypse Zombies series.

There is no doubt that they are trying to capitalize on the popularity of . HBO TV animationarrived earlier this year.

But the company’s blog post said it was also developing “several ambitious, ally-new single-player games.”

Source: news.sky.com

“Handheld Devices: More Popular than Ever as Christmas Gifts” – Science and Technology Update

Posted on December 16, 2023 by Igor Mitreski

Twenty-five years ago, Nintendo’s Game Boy Color was at the top of the Christmas list for many. This iconic mobile device, launched in November 1998, featured classic games like Pokemon, Super Mario Land, and Tetris, and became one of the most successful gaming consoles ever created, with approximately 120 million units sold.

Although the rise of smartphones and games like Candy Crush temporarily overshadowed portable gaming devices, dedicated fans continued to be drawn to the power of consoles and PCs. However, it seems that the mobile device market is healthier than ever this Christmas season.

Nintendo’s Switch, which was released about seven years ago, continues to sell well, with sales exceeding 130 million copies. Inspired by the success of the Switch, Valve released the Steam Deck, a portable gaming device that allows games that were once exclusive to consoles and computers to be taken on the go. Valve has also announced a new model for the Christmas sales season, the Deck OLED, which boasts a better screen, battery life, and lightweight construction.

This handheld gaming craze has expanded beyond Switches and decks to include rivals such as the Asus ROG Ally and Lenovo Legion Go. According to engineer Lawrence Yang, this marks the beginning of a new handheld game console category, where the line between games played at home and games played on the go is blurring.

In addition to these advancements, cloud gaming services like Google Stadia, and streaming services such as Netflix are also making it easier for gamers to access their favorite titles from anywhere.

Leading console makers Sony and Microsoft are also paying attention to the increasingly popular handheld gaming trend, with Sony launching the Playstation Portal and Microsoft’s Xbox Game Pass becoming more accessible. Additionally, services like Antstream are offering over 1,400 retro titles available on multiple platforms.

It’s clear that the convenience and accessibility of handheld gaming devices are appealing to many, making it possible to play games on the go without compromising on graphics or gameplay.

Source: news.sky.com

Sustainable Scaling Strategies are Essential for Startups

Posted on December 16, 2023 by Igor Mitreski

Baris Guzel He is an engineer with experience working at top investment banks and venture capital firms.he is a partner of BMW i VenturesAs a director and observer, he led investments and supported many companies.

brian way I am an associate of BMW i Venturesfocuses on early-to-growth stage investments in B2B applications and infrastructure software, industrial automation, mobility, and sustainability. Prior to joining BMW i Ventures, Brian was a strategy consultant at his KPMG Strategy.

Until recently, many Startups have prioritized growth at all costs, disregarding profitability and sustainability to acquire users and leverage deep venture capital to dominate markets. However, recent market conditions have shifted towards ‘lean growth’, which balances growth and profitability and creates a path to sustainable scale-up.

As investors, we focus on identifying efficient growth in a company’s early stages. What are the early indicators of long-term success and efficient growth of a startup? To find the answer to this question, we use a variety of analyses, some of which we will discuss in this article .

As investors, we leverage cohort analysis to uncover the mechanisms of growth, retention, and sales efficiency.

Given the different ways LTV can be calculated, the lack of steady-state churn data, and the estimates of LTV/CAC calculations, it’s possible that we don’t know the true meaning of what drives customer acquisition and retention for businesses. There is a gender. Given the shortcomings of LTV/CAC calculations, we suggest using cohort analysis to plot how long it takes to recoup the initial sales and marketing spend to acquire each cohort .

The flaws in using LTV/CAC — why use cohorts to measure sales efficiency?

Before getting into the analysis, I would like to explain why commonly used metrics can be misleading. Investors often evaluate a company’s go-to-market engine by its LTV/CAC (lifetime value/customer acquisition cost) metric, but this metric is not important for early-stage companies for several reasons. This often happens.

There are too many ways to calculate LTV.
Churn rates are not stable enough to accurately predict a customer’s lifetime. As an early-stage company, your customer churn rate will fluctuate as you pursue product-market fit. If the product improves over time by adding features that address customer needs, we would expect the churn rate to decrease. Despite product improvements, there are external factors beyond a company’s control, such as macro headwinds, that can drive higher churn rates.
There is a time discrepancy in this ratio. LTV/CAC relates today’s sales and marketing spend to a customer’s future discounted cash flows, which are essentially estimates. For example, using metrics collected during the COVID-19 outbreak to predict the future may result in inaccurate predictions.

What is a cohort? Why is it important?

Cohort analysis is a method of evaluating a business by classifying customers into groups (cohorts) from different points of acquisition and observing how they behave over a defined period of time. Tracked behaviors include the number of orders placed, amount spent, and number of features used over a period of time.

This analysis can be applied to various business models such as SaaS, FinTech, and even marketplaces (at the time, we used this analysis to conduct our analysis) ride-hailing company).Cohort analysis is valuable in looking at specific variables over time This allows you to understand the business story regarding revenue, acquisition costs, and churn within a single cohort and across cohorts.

Here’s how we conducted the analysis:

Source: techcrunch.com

Enterprise CIOs are hesitant to embrace generative AI technology

Posted on December 16, 2023 by Igor Mitreski

Hearing the vendor hype, enterprise buyers might think they’re all in when it comes to generative AI. But as with any new technology, large companies tend to tread carefully. Throughout this year, CIOs have been paying attention as vendors have eagerly announced new generation products powered by his AI.

Some companies are actually looking at reducing spending, or at least smoothing out spending, and are not necessarily looking for new ways to spend. The big exception is when technology allows companies to operate more efficiently and accomplish more with less.

Generative AI certainly has the potential to do that, but it either increases the cost of these features in a SaaS product or the cost of using a large language model API if you build your own. It also comes with its own costs, such as how much it costs. Software internally.

Either way, it’s important for those implementing the technology to understand whether they’re getting a return on their investment. Many companies are proceeding cautiously, with 56% of respondents reporting that generative AI is impacting their investment priorities, according to a July Morgan Stanley survey of CIOs of large companies. However, only 4% of people actually launched any significant projects. In fact, most were still in the evaluation or proof-of-concept stage. This may be a rapidly changing area, but it’s also consistent with what we heard in our conversations with CIOs.

That said, similar to the consumerization of IT a decade ago, CIOs are under pressure to deliver the kind of experience people see when they play ChatGPT online, says Madrona Ventures Partner says Jon Turow.

“I think it’s undeniable that all of our corporate employees, who are internal customers of CIOs and CTOs, have tried ChatGPT and know how great it is. , and know where the great words are. So CIOs are under pressure to achieve that level,” Turow told TechCrunch.

Particularly where some of the pressure may be coming from the CEO, the desire to please internal customers and potentially transformative things like generative AI. There is also a tension between CIOs’ natural tendency to act cautiously. Jim Rowan, a principal at Deloitte, said that making this happen requires building some structure and organization over time, and how to build generative AI across the enterprise in an organized way. He said he is working with customers.

“A lot of the way we work with companies is to think about what infrastructure they need to be successful. Infrastructure doesn’t necessarily mean technology, but people. Who is that, what is the process and governance…and giving them the ability to set it up,” Rowan said. A big part of that is talking about use cases and how the technology can be used to address specific problems.

This is consistent with how the CIOs we spoke to are implementing this in their organizations. Monica Caldas, her CIO at insurance company Liberty Mutual, started with a proof of concept for a few thousand people and is looking for ways to scale it at her 45,000-employee company.

“We know that generative AI will continue to play a critical role in virtually every part of our company. We are investing in use cases to further develop and refine them,” she said. she said.

Mike Haney, CIO of Battelle, a science and technology-focused company, is also exploring generative AI use cases this year. “So we’ve been working on advancing AI for the past six to nine months, and we’re currently building out specific use cases for different teams and functions within the company.” Although it is still early and they are still exploring ways in which it can help, they caution that so far the results have been good in terms of providing more efficient methods.

Kathy Kay, executive vice president and CIO of financial services firm Principal Financial Group, says her company started from scratch with a research group. “So we opened it up to any employee with an interest or passion, and the number grew to about 100 people. It’s a combination of engineers and business people, and now she’s probably working on 25 use cases. of which she plans to put three into production. [soon],” she said.

Sharon Mandel, Juniper Networks CIO, said her company is participating in an early pilot with Microsoft for Copilot for Office 365, and anecdotally, some people like Copilot and others are less impressed. says they’ve heard mixed feedback. Measuring productivity gains remains a challenge, he said, even though Microsoft has started offering dashboards that at least show levels of adoption and usage.

“The difficult thing about this is that we don’t have data on people’s productivity levels. So no matter what, we want to make sure that we have a good understanding of Microsoft’s dashboards that show how our users are using them. Until then, we will be using somewhat anecdotal information,” she said.

When companies hear about the potential power of generative AI, it’s no surprise that they want to learn more about it and leverage it to make their organizations run more efficiently, but at the same time, executives are becoming somewhat cautious. Of course. We recognize that these are still in their early stages and we need to learn through experimentation whether this is truly a revolutionary technology.

Source: techcrunch.com

Top funding choices for mature startups

Posted on December 16, 2023 by Igor Mitreski

“Entrepreneurs navigating the later stages of startup are faced with a mine of funding options, not all of which are suitable for their business,” said David Spreng, Founder and CEO of Runway Growth Capital. is writing.

All articles on TechCrunch+ are available to members only.
Use discount code TC Plus Roundup Save 20% on a 1-year or 2-year subscription.

While there is no one-size-fits-all solution to financing, David explains some options to help you choose the right one for your business. For example, a strategic partnership may be a better fit and can often drive business growth. You also have the option of applying for government grants if it makes sense for your company.

thank you for reading!

Karin

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Image credits: Bryce Durbin/TechCrunch

Dear Sophie

My colleagues and I work at a large technology company. We have an idea that we would like to pursue for a startup. We both have H-1B visas. Our I-140 EB-2 green card petition has been approved, but we are waiting for our green card priority date to become current. How do I transfer my H-1B to a new startup? Can I transfer our green card to a new startup as well?

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Our resident pitch expert, Haje-Jan Kamps, trained an AI model on thousands of pitch decks. This tool analyzes your pitch deck and provides feedback. Of all the decks the tool analyzed, only 6% contained all the information the AI robot was looking for. Haje offers some tips on how to fix common mistakes when putting together slides.

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Champ Suthipongchai, co-founder and general partner at Creative Ventures, writes that more conventional investors are starting to call themselves deep tech investors. Before choosing a deep tech fund manager, it’s a good idea to answer a few questions, such as: Does their investment approach make sense?

Image credits: jilsac (Opens in new window) / Getty Images

CRM isn’t just for sales teams. Founders can use these tools to streamline their relationships with investors. A good CRM will help you track interactions, remind you to follow up, and generate detailed reports.

Source: techcrunch.com

Ubiquiti resolves bug that could expose private video streams to other customers.

Posted on December 16, 2023 by Igor Mitreski

Ubiquity, a maker of networking and video surveillance cameras, has fixed a bug that it claims allowed users to accidentally grant access to other customers’ accounts and private live video streams.

report appeared first On Reddit, some Customer received push notification You can view Ubiquiti account-related information and other customers’ private video streams on your phone. Another person said they logged into their Ubiquiti account, but I was presented with another customer’s account data.

One person on the Ubiquiti subreddit said, “When I log in, I feel like a different person.” Another user said he had “full access” to dozens of consoles that did not belong to him.

Ubiquiti is a cloud and technology company that manufactures routers, network switches, security and video surveillance equipment that can be controlled and operated remotely through a centralized cloud product.

in Subsequent posts to community forumsUbiquiti said it had “identified and addressed the cause of this issue,” and the company attributed the issue to an upgrade to its cloud infrastructure.

“We have observed a small number of instances where users received push notifications on their mobile devices that appeared to come from an unknown console, or where such users were able to access a console that was not theirs,” Ubiquiti said. Unnamed employee.

The company announced that 1,216 accounts from one group were improperly associated with 1,177 accounts from another group, and the mixed access lasted approximately nine hours on December 13th.

Although this appears to be a misconfiguration rather than a criminal case, mistakes happen, and this is a reminder that Ubiquiti still retains broad access and control over its customers’ devices and data.

Source: techcrunch.com

Robinhood is expanding its involvement in the world of cryptocurrencies

Posted on December 16, 2023 by Igor Mitreski

Wants to attract “all demographics” of digital asset investors

Jacqueline Melinek
12 hours

Robin Hood is Having been around for over a decade, its foray into cryptocurrencies is not necessarily new. But the company is still trying to expand its efforts, even among groups that tend to leave the platform.

“I think cryptocurrencies have always been created by and for very technical people,” said Johan Kerblatt, general manager of cryptocurrencies at Robinhood. chain reaction podcast. “At the end of the day, I don’t think customers care too much about what the underlying protocol is when they use cryptocurrencies. What network are they using? They just want things to work. That’s what I’m hoping for.”

While that may be true for novice crypto investors, the app has successfully embraced that group by providing educational resources, but going forward it wants to focus on everyone.do Be aware of the underlying protocol. Robinhood users can do more technical things, such as sending money to crypto wallets, and use “advanced charts and autotypes where you can set things like stop losses,” Curblat said.

While the platform may not be as technologically advanced as crypto-focused platforms, Robinhood does research to understand what its customers want and what they’re missing.

Despite its growth plans, Robinhood appears to be shaky in its stance on digital assets. In June, the app opted to restrict trading and holding of certain cryptocurrencies for U.S. customers at a time when the U.S. government was cracking down on major industry exchanges such as Binance and Coinbase.That being said, the platform still has 14 cryptocurrencies and 1 stablecoinUSDC, which users will be able to buy and sell.

Source: techcrunch.com

Grok, the AI stuffed animal with Grimes’ voice, was trademarked before Elon Musk’s Grok

Posted on December 16, 2023 by Igor Mitreski

Grimes is getting into the toy business with “Glock,” the character she voices for Curio’s new line of screenless AI plush toys.

The toy is not affiliated with Grok, an AI chatbot backed by Grimes’ ex-Elon Musk. Musk described xAI’s Grok as having a “rebellious personality” and a willingness to answer “tough questions that most other AI systems would refuse.” That sounds vulgar if you ask me.

Grok, Gabbo, and Grem, on the other hand, are designed to encourage play. In a conversation with Misha Sallee and his partner Sam Eaton, the Curio founder said: Published on Curio’s blogGrimes said she encourages children’s creativity early on through dynamic conversations rather than a static list of prompts.

“The idea of bringing more imagination or making it easier to access imagination within one’s current existence, rather than just observing it within other beings such as screens, movies, and books. I like it,” she said.

in Curio announcement videoGrimes said she doesn’t want her kids to be “in front of a screen” but is “really busy.”

Image credits: antique

Curio says the toys can have full conversations, allowing children (or adults) to practice their communication skills. Glock is an anthropomorphic rocket ship, voiced by Grimes. There’s Gabo, who looks like a Game Boy stuffed animal with arms and legs. And then there’s Grem, a cyan rabbit with hearts on his cheeks. The beta version of the toy is Pre-order possible Through Sunday, the price is $99 each. Recommended for children from 3 years old to her 7 years old. Grimes and Musk’s oldest child is named XÆA-Xii and she is 3 years old.

The stuffed animals answer questions about how rocket ships are made and play games with the user, encouraging the development of children’s listening and conversation skills. Inside the stuffed animal is a rechargeable, Wi-Fi-connected speaker and microphone, connected to an app that parents can set up and monitor interactions with their children.

“When I think about kids, my goal is to keep as many hearts out of this as possible. Basically, how many iPads can we replace?” Grimes said with Eaton and Sally. He said this in a conversation.

She later added: “I think the more we verbalize things, the more we’re forcing people to use their working memory. You know, there are little things here and there that make our brains just a little bit better. ”

Grimes became involved with Curio after answering a question. post “Children’s teddy bears talk to children and give them peace of mind at night.” About the future of AI-integrated toys.grimes answered “It would be great if it was safe,” she said, and she would be happy if children could have “a culture ship in a teddy bear at heart.”

The line launches about a week after a competitor to Musk’s ChatGPT (named Grok) began rolling out to X Premium Plus subscribers.

“Grimes is the voice of the toy, and this rocket just so happens to be named Grok and was made before the announcement of the Grok AI, so there’s some interesting overlap between him and Grimes,” Sally said. said in a conversation.

as Business Insider ReportGrimes’ Grok was the first to be trademarked.

Curio has filed a trademark for Grok on September 12 this year. xAI files trademark for Grok on October 23rd. Curio’s Grok stands for Grocket, as the Grimes children spend a lot of time around rockets since their father is the owner of SpaceX. The Washington Post reported.

grimes and musk Currently in custody battle The couple has filed child custody lawsuits in California and Texas over their three children.

(Absurdly, by the time we realized that the Grok team was also using this name, it was too late to rename both AIs, so now the AI named Grok is There are two of them. I can’t wait for them to become friends. I can’t believe it. Even the AI can’t avoid showing up to school and meeting other kids…

— Princess Irren® (@Grimezsz) December 14, 2023

in post Regarding the name, Grimes said that by the time Curio realized that xAI’s Grok team was also using that name, “it was too late for either AI to change its name.”

“I currently have two AIs named Grok, and I can’t wait for them to be friends,” she said. “I can’t believe that even an AI can’t avoid showing up at school and meeting other kids with the same name lol.”

Source: techcrunch.com

Top Tech Gifts Under $50 to Consider for 2023

Posted on December 15, 2023 by Igor Mitreski

Tech gifts that your loved ones will use don’t have to come with a hefty price tag. If you don’t want to spend a fortune on a gift for someone, there are many great gadgets to choose from. This list includes budget-friendly gift ideas ranging from Bluetooth trackers and wireless earbuds to smart home accessories. I have personally used most of the items on this list, especially AirTags, and have even gifted some of the products to my own family (my brother has his Govee smart LED strip lights). You don’t have to spend a fortune to give someone a cool tech gift. All of these products are also easy to use, so they would make great gifts for anyone, regardless of age. This article contains links to affiliate partners where possible. When you buy through these links, TechCrunch may earn an affiliate commission.

AirTags are a great gift for people who often misplace their belongings. AirTags help you find lost items through Apple’s “Find My” app. Small tracking devices can be attached to personal items such as wallets, bags, and keys. AirTags are also useful for friends and family who travel frequently, as they can be used to track their luggage.

Tile Pro is a great gift for both Android and iOS users. It essentially works the same way as an AirTag, as it helps you find lost items. If you’re not sure which phone the person you’re looking for a gift for has, Tile Pro is the way to go.

These wireless earbuds have 8 hours of playtime, and the charging case gives you an additional 24 hours of playtime. Very comfortable and features deep bass. These earbuds don’t have fancy features like wireless charging or noise cancellation, but they’re water resistant, making them perfect for working out.

Govee Smart LED strip lights are a great way to bring color into anyone’s home. You can use it to accent the edges of a room, brighten your TV setting, or illuminate other areas of your home. You can use the Govee Home app to control the lights, change the color of the strips, turn them on or off.

This wireless charging stand is perfect for those who don’t have one yet. The great thing about wireless charging stands as opposed to wireless charging pads is that you can easily check your notifications using the stand. The stand allows you to charge your phone vertically or horizontally, so you can also watch movies, FaceTime, and other tasks while charging.

This smart hub is the perfect gift for someone who has yet to embrace the world of smart home technology. With Echo Dot, you can play music, check the weather, set alarms, control other smart home devices, and more. The fifth generation model has improved sound and faster response times.

This wireless mouse is comfortable and designed to fit people of all hand sizes. It has a battery life of 24 months and is compatible with computers, laptops, tablets, Windows, macOS, Chrome OS, Linux, and iPadOS. You can use it on up to three computers and customize the six buttons for a customized experience.

You don’t have to spend hundreds of dollars to gift someone a high-quality fitness tracker. The budget-friendly Amazfit Band 7 can track several basic health metrics. It can alert you to abnormal heart rate, monitor your stress levels, and track your sleep quality. This watch has a battery life of 18 days with normal use and up to 28 days in battery saver mode.

The Philips SmartSleep Alarm Clock is the perfect gift for anyone of any age. A simulated sunrise prepares your body to wake up while you’re still asleep, improving your morning mood. You can choose from 10 brightness levels and can also be used as a bedside lamp.

UV phone sanitizer is a great gift for anyone with a phone. Considering how dirty your phone gets after leaving it on something like a restaurant table, it’s good to have a layer of protection against viruses and other harmful germs. While some are more expensive, the PhoneSoap Basic is great and lets you sanitize more than just your phone, as you can add things like keys, glasses, wallets, and more.

This wireless Bluetooth speaker is a great gift for anyone who wants to listen to music or podcasts without headphones while at home, in the background, at the beach or camping. The speaker is protected from rain, dust, snow, and spills, so you can use it almost anywhere. The speaker can play for up to 24 hours on a single charge, so you don’t have to constantly worry about battery life.

This supurs electric lighter A great gift for someone who is crazy about candles. It’s also a great tool for friends and family who love barbecuing and camping. The lighter is designed with a child safety protection device as you need to press the safety lock switch first and then press the ignition switch.

This post was originally published on November 13th and has been updated to include more gift recommendations and deals. Check out our other 2023 gift guides.

Source: techcrunch.com

Apple to pay $25 million to resolve Family Sharing lawsuit

Posted on December 15, 2023 by Igor Mitreski

Apple agreed to pay $25 million settle a class action lawsuit Family Sharing lets you and up to five family members share access to purchased apps, music, movies, TV shows, and books. The lawsuit, first filed in 2019, alleges that “Apple falsely represented that app subscriptions could be shared using the Family Sharing feature.”

This news was first reported by mcroomers.

In the complaint, Apple denies making any misleading misrepresentations and “denies all allegations of wrongdoing.” “Apple has concluded that continuing to defend this litigation would be burdensome and costly,” the settlement agreement states. Apple enters into this Agreement without any admission of negligence, liability, or wrongdoing of any kind. ”

The tech giant did not respond to TechCrunch’s request for comment.

Court documents in the lawsuit allege that Apple promoted Family Sharing as an option for apps that didn’t support it.

“The vast majority of Apple Apps, which are increasingly subscription-based, cannot be shared with designated family members,” the court documents say. “Available only to individual users who have downloaded the app and set up a subscription. However, all or nearly all of these apps will have a statement on their landing page that says they support Family Sharing until January 30, 2019. It was included.”

The complaint alleges that Apple knew the subscription-based app didn’t support Family Sharing, but ran ads for Family Sharing anyway. The court documents go on to say, “Millions of consumers downloaded subscription-based apps believing they could be used for Family Sharing, only to find out after payment was made that they were not so much available.” Says.

U.S. residents who signed up for a Family Sharing group with at least one other person and purchased an app subscription from the App Store between June 21, 2015 and January 30, 2019. May be subject to payment. Eligible class members will receive an email this week.

Each member of the class who files a claim is eligible to receive $30, which varies depending on the number of people who file a claim. However, the payments will not exceed $50 per class member, and $10 million of the settlement proceeds will go toward attorney fees.

Eligible class members must submit claims by March 1, 2024. His final approval hearing is scheduled for April 2, 2024.

Source: techcrunch.com

Declining Investment Trends in India

Posted on December 15, 2023 by Igor Mitreski

Welcome to Startups Weekly. sign up here. Delivered to your inbox every Friday.

You shouldn’t compare apples to oranges, but similarly, comparing iPhones and Android is a fool’s errand. After 11 years, Apple is finally phasing out the Lightning connector in favor of a more universal standard: USB-C. With a ton of products, there is a renewed conversation about silos and open standards. Apple has long drawn the ire of Android users who have been locked out of the iMessage standard, and workarounds have come and gone from time to time. These days, Android users can now send their iMessages to their iPhone users using an app called Beeper. To everyone’s surprise, Apple quickly shut it down, drawing attention from all angles, especially the Senate. Of course, neither Apple nor Android are startups, so what’s this doing as a Startups Weekly headline? Well, this is before products like Beeper disappear from existence again just as quickly. I think it will be a very good reminder that there is a possibility of explosively appearing on the scene. Whether you’re building on the Apple ecosystem or ChatGPT, or your company relies heavily on another service entirely, you’re placing your success entirely at the whims of a company over which you have little or no control. Not worth fixing. A small soapbox speech is unobtrusive. . . As we reach the middle of December, let’s take a look at what else happened in the startup world. A sea of rocks in the startup ecosystem Image credits: Diane Keogh (Opens in new window) / Getty Images In an epic plot twist, Omidyar Network, the philanthropic investment firm founded by eBay’s Pierre Omidyar, is bidding farewell to India after 13 years. Despite recent investment and public engagement, they have ceased operations, citing “significant changes in circumstances” and the rise of local philanthropy and venture capital. They boast a catalytic influence, but their sudden withdrawal after a difficult year (think of the fire sale of a startup that received support) has left many in India’s startup world perplexed. I’m letting you do it. Analysts fear this is part of a broader trend. Manish reported that Indian startups have raised about $7 billion in funding this year, down from about $25 billion in 2022 and $37 billion in 2021. Other venture and funding news: Shark fintech soup: SumUp, a fintech company for small and medium-sized businesses, is investing €285 million in a survival kit to fight the fintech storm. The company is planting its flag in new markets and adding shiny features to its payment methods, but the funding situation is as enticing as a shark tank. Despite boasting a brighter EBITDA outlook, customer numbers have remained unchanged for two years. Fintech is hard work, people. OpenAI is investing in India. In a bold move, OpenAI is integrating into India’s AI industry by enlisting former Twitter India chief executive Rishi Jaitly to act as a local watchdog. They are reportedly working towards setting up a team in India, but there is no formal presence yet, just a fledgling trademark. Jaitly helps OpenAI navigate India’s complex policy landscape. Rocket fuel is: In the latest ‘slow and steady doesn’t win the race’ move, Paris-based startup studio Hexa, which just closed $22 million in funding, has introduced Hexa Scale. This program targets his B2B companies that are stuck in the slump of linear growth and offers a lifeline back to the sexier world of exponential growth. AI movement Image credits: mathisworks/Getty Images Introducing Sarvam AI. The Indian startup is just a 5-month-old baby, but he has already raised a whopping $41 million in funding to strengthen its financial strength. Who said startups have to crawl before they can walk? Sarvam AI aims to build full-stack generative AI products, skipping the baby stage and jumping straight into the AI playground. is. They’re not just tinkering with language models; They are rethinking them with a focus on Indian languages and voice interfaces. It’s like watching a superhero origin story, but for an AI startup. If Sarvam‘s $41 million funding round wasn’t enough of a reminder that AI is smoldering, Parisian startup Mistral AI has raised a whopping $415 million in funding. Think about completing a round and just plainly saying “au revoir.” The company is passionate about shaping the future of AI with a distinctly European flair. Roman delves into why Silicon Valley needs to be cautious. This content was originally published on TechCrunch. Read the original article.

Source: techcrunch.com

Superpedestrian, a scooter startup, shuts down U.S. operations and explores selling its European operations

Posted on December 15, 2023 by Igor Mitreski

super pedestrian electric scooter
The startup known for its self-diagnostic software is shutting down its U.S.-based scooter-sharing business and considering selling its European operations, TechCrunch has learned exclusively.

Alexander Berg, the company’s director of U.S. operations, confirmed the news to his team on a Zoom call Friday afternoon. Berg said the reason for the closure was economic, but declined to provide further details. “Investors have also put in money to keep us going to this day,” he said on a conference call. “It’s not because I didn’t try hard enough.”

The closure comes as the startup raises equity and debt funding including investors from Jefferies, Antara Capital, Sony Innovation Fund by IGV, and FM Capital, in addition to existing backers such as Spark Capital, General Catalyst, and Citi. This comes just 18 months after the company raised $125 million in Series C funding. Via Citi Impact Fund.

However, since then, the electric scooter industry has been in a somewhat difficult situation. Bird’s valuation plummeted after its listing, and the company was forced to exit multiple markets.

Superpedestrian itself has experienced a series of layoffs, including one just months after the end of its Series C round. The latest incident happened earlier this month, according to a post on LinkedIn.

The company pulled out of Chicago in September, citing competitive difficulties, but said its scooters operate in more than 60 cities in 11 countries. A representative for the city of Waco, Texas, where Superpedestrian recently launched a scooter squad, said by phone Friday that he had no knowledge of the impending closure.

Superpedestrian used technology, specifically diagnostic and safety software, to differentiate itself from competitors like Bird and Tier. The company strengthened its technology efforts with the acquisition of Navmatic in July 2021.

Using Navmatic’s technology, we developed and deployed a so-called pedestrian protection safety system. This system is a feature designed to detect and correct unsafe riding behavior, such as riding on sidewalks, in real time. Superpedestrian had planned to build a new scooter with its own branded pedestrian protection features and roll it out to 25 cities in the U.S. and Europe in 2022. Initial rollouts were expected to begin in pedestrian-dense cities in the U.S. and U.K. by early spring, the company said.

The story is unfolding…

Source: techcrunch.com

Publisher sues Google for antitrust damages from AI-inflicted profit losses

Posted on December 15, 2023 by Igor Mitreski

A new class action lawsuit filed this week in U.S. District Court in Washington, D.C., on behalf of news publishers, accuses Google and parent company Alphabet of anticompetitive practices that violate U.S. antitrust laws, the Sherman Act, and other laws. The lawsuit, filed by the Arkansas-based publisher Helena World Chronicle, alleges that Google is “siphoning” content, readers and advertising revenue from news publishers through anticompetitive means. It also specifically cites new AI technologies such as Google’s Search Generative Experience (SGE) and Bard AI chatbots as exacerbating the problem.

The Helena World Chronicle, which owns and publishes two weekly newspapers in Arkansas, said in its complaint that Google “starves freedom of the press” by sharing publishers’ content on Google and “starves out freedom of the press” and forces publishers to ” They claim that they have lost billions of dollars.

In addition to newer AI technology, the lawsuit also points to Google’s older question-and-answer technologies, such as Knowledge Graph, which was launched in May 2012, as part of the problem.

“When a user searches for information about a topic, Google displays a “knowledge panel” to the right of the search results. “This panel contains a summary of content extracted from the Knowledge Graph database,” the complaint states. “Google compiled this vast database by extracting information from publisher websites (what Google calls ‘material shared on the web’) and ‘open source and license databases.'” There is.

By 2020, the knowledge graph looked like this: grown 500 billion facts about 5 billion entities. However, much of the “collective intelligence” used by Google was content “appropriated from publishers,” the lawsuit alleges.

Other Google technologies, such as “Featured Snippets,” where Google algorithmically extracts answers from web pages, have also been cited as driving traffic away from publishers’ websites.

Perhaps more importantly, the case addresses how AI will impact publishers’ businesses.This issue has recently been clarified in detail In a Thursday report in the Wall St. Journal, It yielded shocking statistics. When the online magazine The Atlantic modeled what would happen if Google integrated AI into search, it found that 75% of the time, the AI would be used by users without requiring them to click through to his website. , and found that the traffic was lost. This could have a big impact on publisher traffic going forward, as Google currently accounts for nearly 40% of publisher traffic, according to SamelWeb data.

Some publishers are now trying to get ahead of this problem. For example, Axel Springer signed a deal with OpenAI this week to license AI model training news. But overall, publishers believe they will lose 20 to 40 percent of their website traffic once Google’s AI products are fully rolled out, the WSJ report said.

The lawsuit reiterates this concern, saying that Google’s recent advances in AI-based search are “for the purpose of discouraging end users from accessing class member websites that are part of the commercial field of digital news and publishing.” It is claimed that it was implemented in

SGE offers web searchers a conversational way to search for information, but it “appropriates” content, ultimately trapping users in Google’s “walled garden”. claims. Publishers also cannot block his SGE, as it uses his web crawler, which is the same as his GoogleBot, Google’s general search service.

Additionally, Google’s Bard AI says it was trained on a dataset that includes “news, magazines, and digital publications,” citing both 2023. report From News Media Alliance Washington Post article on AI training data For reference only. (The Post, working with researchers at the Allen Institute for AI, found that news and media sites were his third largest category of AI training data.)

The lawsuit also points to other concerns, including AdSense price changes and evidence of improper misappropriation of evidence on Google’s part through the destruction of chat messages. This issue is raised in the recent Epic Games lawsuit against Google over app store antitrust issues. I won.

In addition to damages, the lawsuit also seeks an injunction to obtain consent from publishers to use the website’s data to train artificial intelligence products in general, including those of Google itself and its competitors. It also calls on Google to allow publishers who opt out of SGE to continue to appear in Google search results.

Lawsuits continue in the US Google’s agreement with the Canadian government last month The search giant would then pay Canadian media a fee to use their content. Under the terms of the deal, Google will provide US$73.5 million (C$100 million) annually to news organizations in the country, with the funding to be distributed based on news organizations’ headcount. Negotiations with Meta have not yet been resolved, but Meta began blocking news in Canada in August in light of pressure to pay for content under new Canadian legislation.

This lawsuit will be filed at the same time as the U.S. lawsuit. Department of Justice files suit against Google against digital advertising technology monopolies, and the 2020 Department of Justice Civil antitrust lawsuit around search and search advertising (a different market than the digital advertising technology in recent litigation).

The anticompetitive effects of Google’s plans cause serious harm to competition, consumers, workers, and democratic press freedom.” announcement It was posted on the website of Hausfeld, the law firm that handled the case.

“Plaintiff Helena World Chronicle LLC invokes the Sherman Act and the Clayton Act to restore and ensure competition in digital news and reference publishing and install guardrails to preserve the free market of ideas in a new era. Seeks collective monetary and injunctive relief for: Artificial Intelligence.”

Google has been asked for comment, but has not yet received a response.

Complaints are available below.

Helena World Chronicle, LLC v. Google LLC and Alphabet Inc. by tech crunch On Scribd

Source: techcrunch.com

Co-founder Eric Wu of Opendoor resigns to revive his startup beginnings

Posted on December 15, 2023 by Igor Mitreski

Opendoor co-founder Eric Wu is stepping down from the real estate tech company. SEC filing.

Wu said in a statement: “After 10 years, I am being asked to go back to my startup roots and create and build again. I am humbled by this accomplishment and grateful to my teammates who have helped shape our product, our culture, and our company. Thank you very much.”

Mr. Wu will remain an advisor to the company and its board of directors. During his time at Opendoor, he remained an active investor.according to crunch baseMr. Wu has invested in dozens of companies, including Airtable, Scribe, Roofstock and the now-defunct Zeus Living.

The executive had been gradually reducing his executive responsibilities at Opendoor, which is nine years old. Last December, Mr. Wu announced that resign from one’s role as CEO He will serve as President of Opendoor’s Marketplace Division.

Like many other companies operating in the real estate sector, the company is facing some challenges as mortgage rates have risen to nearly 8%, making it difficult for people to buy a home.

In November 2022, Opendoor announced: Let go of about 550 peoplerepresenting 18% of the company across all divisions.

At the time, Wu said his company was navigating “one of the most difficult real estate markets in 40 years.”

Opendoor completed its listing in late December 2020. Scheduled merger Partnered with SPAC Social Capital Hedosophia Holdings II led by investor Chamath Palihapitiya. This comes after the company raised about $1.3 billion in equity funding and about $3 billion in debt funding. Investors include General Atlantic, SoftBank Vision Fund, NEA, Norwest Venture Partners, GV, GGV Capital, Access Technology Ventures, SV Angel, Fifth Wall Ventures, and more.

Founders include Wu and Founders Fund general partner Keith Lavoie.

It was a week when the founder left. On Thursday, TechCrunch broke the news that Credit Karma co-founder Nichole Mustard is leaving the company after more than 16 years.Jack Altman also announced his appointment. get off the lattice“I want to go back to the early stages of building the company,” Altman told Business Insider.

Have a news tip or inside scoop on a topic we’ve covered? We’d love to hear from you. Contact us at maryann@techcrunch.com. Or send us a note at tips@techcrunch.com. We will be happy to honor your request for anonymity.

Source: techcrunch.com

Analyzing Metafuels’ $8 million seed deck for climate technology

Posted on December 15, 2023 by Igor Mitreski

Approximately 2% The world’s CO₂ emissions come from pressurized, jet-driven sausages traveling through the air. Earlier this week, he covered Metafuels, a startup that believes it has a solution to reducing aircraft emissions.

I also negotiated with the company’s founders to provide them with pitch materials for their $8 million seed round, allowing me to take a closer look at the materials the company used to raise money.

We’re looking for more unique proposal decks, so if you’d like to submit your own, you can do so in the following ways:

This deck slide

Metafuels was kind enough to share its entire deck with TechCrunch+ for this teardown. There are some minor edits, but the majority of this slide deck remains intact.

cover slide
Market size slide
Product/Technology Slide 3
product manufacturing slides
Unit economics (large scale production numbers)
unique selling point
technology roadmap
Business model slides (production version)
Business model slide (license)
Commercialization slide
Market traction slide
team slide
end slide

3 things to love

If you’ve been reading my Pitch Deck Deconstruction article, even just skimming the list of slides above, you’re probably thinking, “Oh, Haje won’t be happy with this, there’s a ton of information missing!” . And yes, you would definitely be right. However, this is an interesting challenge for deep tech startups. If it takes a long time to get your product to market, by definition you’re missing a lot of things.

Is it a bird? Is it an airplane?No, the market size is skyrocketing

It takes special chutzpah to say “all aviation fuel” is your market, but that’s what Metafuels is doing here.

[Slide 2] Aiming for 70% of the aviation fuel market is quite bold. I like that. Image credits: meta fuel

Currently, the market size for sustainable aviation fuel (SAF) is quite limited. According to the International Air Transport Association (IATA), around 300 million liters of sustainable aviation fuel will be produced in 2022, doubling to more than 600 million liters this year. This is equivalent to a drop in the ocean of all the fuel used in the world. Although there was a significant drop during the pandemic; Approximately 360 billion liters of fuel were used by commercial airlines in 2019.

In other words, SAF represents approximately 0.17% of the total aviation fuel consumed.

It is therefore no surprise that Metafuels has decided to start forecasting from 2030. That’s when the company really ramps up production, and that’s when the market is likely to take off. A major enforcement feature is the RefuelEU aviation regulation, which sets targets for blending sustainable fuels with petroleum-compatible fuels.

Metafuels tells its story well. It provides a comprehensive picture of a rapidly growing market, in which the company has established itself as a key player.

From this slide, you can learn how to connect the “why now” part of your story to broader macro changes. If you know which way the wind is blowing, you can set up your company to make the most of it.

Let’s get geeky about technology

When building a deep tech company, the tallest pole in the tent will always be the technology itself.what do you have you Did you notice that no one else has been able to identify it?

[Slide 4] Oh yeah, talk about nerdy stuff, baby. Image credits: meta fuel

Metafuels has discovered one exception to the “investors don’t care about your product” rule. Metafuels is a deep technology company, and its failure or success will be based entirely on its ability to deliver on the technology side. Refreshingly, the three-slide set (slides 3-5) explains the process itself, how it works at scale, and how the company can produce fuel at an affordable price. is.

clear roadmap

[Slide 7] I like the clarity of Metafuels’ plan. Image credits: meta fuel

Make it work, then make it work on a small scale, then scale it to production scale. This is a very obvious route, but it’s rarely explained this clearly. Slide 10 details how the company scaled up from his 50 liters per day to 700 million liters per day. This is a tremendous scale operation.

The main takeaway from this part of the deck is to look to the future and how it can be expanded upon. In particular, having a clear understanding of unit economics (i.e., how the financials of your product change as you start increasing volumes) is often a key part of the story.

Here, Metafuels is talking about producing 1-2 liters per day and scaling it up to 700 million. That’s… a tough job. And while the manufacturing processes and factories to produce that much fuel will be more expensive, the cost per liter will be significantly lower. Metafuels tackles that beautifully with this deck.

In the rest of this teardown, we’ll take a look at three things Metafuels could have improved or done differently, as well as its full pitch deck.

Source: techcrunch.com

In Orbit Aerospace Aims to Expand as a Third-Party Logistics Provider for Science and Industry

Posted on December 15, 2023 by Igor Mitreski

Space startup in its second year of establishment orbital aerospace The company wants to become a third-party logistics provider for commerce from Earth to space. And to get there, the company just signed a new contract to validate key technical capabilities of the International Space Station.

The El Segundo, California-based company develops orbital platforms and reentry vehicles that enable mass manufacturing and research in space. In Orbit’s plans are more than a little ambitious. The idea is to host customer factories and laboratories on an orbital platform. An unmanned reentry vehicle would autonomously dock and rendezvous with the platform, and robotic systems would transfer manufactured materials to the vehicle, which would then return the products to Earth.

“Automation and robotics are the backbone of industrial production on the planet,” CEO Ryan Elliott said in a statement. “It should be no different in space.”

It’s a mistake to think that In Orbit is trying to compete with space manufacturing companies like Varda Space and Space Forge, Elliott said in a recent interview. “Their customers and our customers are fundamentally different,” he said. “We handle logistics, on-orbit hosting, [but] We don’t manufacture the materials ourselves. ”

Elliott and his two co-founders, Antonio Coelho and Ishaan Patel, have been driving this effort for just over two years. The company has raised about $2 million to date, and the team is currently raising money to support a demonstration mission in mid-to-late 2026.

For its first mission, the company will work with a satellite bus provider that will host an orbital platform and a subscale version of the reentry rocket. If all goes as planned, the mission will demonstrate transporting material from a host platform to an atmospheric reentry vehicle and back to Earth.

In Orbit has a huge amount of work ahead of it. The company must ensure rendezvous and docking, cargo transfer between the two spacecraft, and reentry processes. Elliott said rendezvous, docking and reentry were particularly challenging.

“There’s so much commercial hardware out there for parachute and heat shield suppliers,” he said. “Simulation and testing are also very difficult. You can’t test reentry in all the different environmental parameters on Earth. The only way to do it is through flight testing.”

The new contract with NASA is part of the company’s efforts to minimize these risks. Under the new Space Law Agreement, In Orbit is partnering with Nanoracks to demonstrate autonomous docking and robotic transport in a zero-gravity environment. Nanoracks, now owned by Voyager Space, has had a commercial presence on the ISS for many years and frequently provides support to newcomers looking to take advantage of the ISS National Laboratory. In-orbit testing will occur in mid-to-late 2025 at the earliest, Elliott said.

On a longer-term scale, In Orbit aims to launch a second mission in 2026 and then partner with a spacecraft provider to set up a manufacturing lab in orbit. The ultimate goal is simply to leave the hardware in space and launch a reentry capsule that rendezvous with and docks with an orbiting platform.

In Orbit expects its core customers to be manufacturers who want to outsource Orbit hosting. Those customers might work with, for example, pharmaceutical or semiconductor companies looking to manufacture products in space.

“The percentage of people who want to manufacture things in space is increasing exponentially,” Elliott said. “There’s a lot of hype around it. NASA is putting more money into it. The Department of Defense is very interested. There’s just more to come.”

Source: techcrunch.com

Jagat, a location-centric social platform emphasizing in-person connections, crosses 10 million user mark

Posted on December 15, 2023 by Igor Mitreski

Jagat, a social network designed to help you get out more with friends instead of mindlessly scrolling on your phone, has over 10 million users worldwide. Launched in March earlier this year, this location-based social network wants to help people focus on real-life connections and make friends.

The app is basically a social map that shows you your friends and nearby activities. Jagat features an interactive map interface that lets you stay in touch with friends and discover new people and activities around you in real time. Jagat is a bit similar to Zenly, the social mapping app owned by Snap that went out of service last year.

The startup is based in Singapore and Indonesia and was founded by Jagat president Barry Beagen and CEO Loy Xing Zhe. The two met in December 2021, when Biegen was advising the Indonesian government on digital economy policy and Zee was working on GameFi products focused on Web3, social, and gaming. Biegen said both he and Zee had the idea of building a social network.

“We had the same vision of taking on big tech and really building something that could take on the world from Southeast Asia,” Begen told TechCrunch. “We were also fed up with mainstream social apps that were becoming more passive, and we were also fed up with mainstream social apps that were becoming more passive, and more spontaneous ways to explore the world and places and meet new friends, such as hiking, local concerts, and friend-picking.” We were both really excited about finding ways to do things differently, whether it was playing a basketball game or just going for a long walk.”

The two decided to build a social network where users could create their own spaces and interact virtually with avatars.

The social map is what you see when you open Jagat and shows you the location of your friends in real time. It’s also where you can track where you’ve been and tap your friends’ avatars to send them messages, stickers, and updates. Jagat sees maps as the primary interface for discovering activities and people around you. See your friends’ status updates in real time and know what they’re up to.

Image credits: Jagat

The startup is currently building features aimed at competing with Facebook Groups by allowing users to organize local events and find people with similar interests. We’re also building the ability to explore beyond your local community by enabling you to discover a global community.

“We want to bring social back to social apps, focusing on social networking rather than media,” Biegen said. “We want to care about people, not posts. We want to be close friends, discover new friends, and connect with people in real life instead of scrolling through for entertainment.” It’s built to help you get more. We’re excited to see that other new social apps are also taking on this challenge. Mainstream social media is no longer about making friends and making connections; is passive consumption of entertainment. That’s why we’re focusing on features that allow users to share real-time, unsophisticated updates in a fun way.”

Biegen said most active users check the app three to four times a day, and most people want to know where their closest friends and loved ones are after school or work. . Instead of sending a text message to see if a friend is nearby and wants to grab dinner, the app lets you see where they are.

Approximately 85% of Jagat users are Gen Z. Since its release, the app has topped the charts in Japan, Taiwan, Vietnam, Spain, France, and Singapore. Biegen said the app’s appeal is universal and the startup will continue to develop it into the next generation.

The company closed a Series A funding round in October with participation from Southeast Asian investors, but declined to disclose the amount raised.

Looking to the future, Biegen said the startup wants to build “the next generation of default apps.” “We believe social apps should create real, authentic connections and deliver on the promise of connecting people in real life. In the meantime, we’re building new and exciting features and are committed to helping our community We’re focused on continuing to build, and that what we’re building – expanding social experiences on maps – is empowering a new generation of creators and businesses around the world. I believe we can do it.”

Source: techcrunch.com

Valley Investors Achieve Unusual Goal in Battle Against Methane: Cow Burps

Posted on December 15, 2023 by Igor Mitreski

What do iconic Valley investors Zachary Bogue and Chris Sacca have in common? They’re both trying to stop cows from burping methane. No, really. And Soccer Investments has just raised $20 million to do just that. What gives?

With the conclusion of COP28, the global conference on the climate crisis, methane is on the ClimateTech agenda for investors and startups.

Emissions from livestock are the main source of agricultural methane, accounting for about one-third of all methane. emissions, and most of them aren’t from the parts of the cow you’d expect. In fact, it is from cow burp.

When cows process their feed, they literally exhale methane gas as part of their rumination process, allowing them to digest grass and hay that other animals, including us, cannot.

And it’s these emissions that agritech and biotech companies are now starting to target. There is a lot of pressure to do so. In fact, six major companies in the dairy industry recently pledged The company plans to start disclosing its methane emissions, and other companies are expected to join the plan. And one of the bigger topics at his recent COP meeting was a promise to reduce methane emissions. is growing rapidly.

Methane gas is by far the worst of all greenhouse gases, and like methane it is much worse than CO2. trap more heat The amount per molecule in the atmosphere is greater than carbon dioxide.

This gas stays in the atmosphere for about 12 years, whereas carbon dioxide lasts for hundreds of years, but over 20 years it is about 80 times more heating than carbon dioxide, and over 100 years it is 27 times more heating. according to to the Expert Panel on Livestock Methane in 2023.

Its reduction is therefore considered key to fighting the climate crisis. In fact, there is even a satellite-based “Methane Alert and Response System” (MARS). announced by the United Nations last year.

And a major UN report says “urgent measures” are needed to reduce methane to keep global warming within limits. manageable limit.

British companies now think they can tackle this problem.

British biotech startup Mootral Raised $20 million in Series B funding round backed by Menlo Park-based climate investors king philanthropiesalongside existing investors Lowercarbon Capital (a climate VC started by Chris Sacca), Earthshot Ventures, Kindred Ventures, Third Derivative, Climactic, and Climate Capital.

In total, Mootral raised $48.9 million. This number corresponds to the $11.2 million seed round. Series A for $12.8 million (led by King Philanthropies, which invested $10 million). This Series B is worth $20 million. Family office investment by Thomas Hafner and Karin Boimer is $24.9 million.

Mootral said in a statement that it aims to scale up to feeding 300 million cows with its feed additives by 2033, with the potential to achieve up to 50 percent methane reductions by 2025. This is quite a claim.

“We aim to immediately and permanently reduce methane emissions, and this is happening on farms today,” Mootral founder and CEO Thomas Hafner said by phone. Ta.

“The next generation of products will need to be on the milligram scale. Our next generation will be even better. We aim to reduce it by up to 90%.”

Mootral also has a scheme called ‘CowCredits’ which allows farmers to access the carbon credit market when reducing their herd’s methane emissions. ClimatePartner, a company that funds climate change projects through carbon credits, has signed on to include his Mootral in its portfolio of options for Crent.

The company says its Enterix product (manufactured in Wales) has been tested on farms in the UK, and the results have been published in academic journals, including the Journal. Open Journal of Animal Science, Frontiers of microbiology, animal science journaland translational animal science.

So how does it work? Dairy cows produce about 500 liters of methane every day. 3.7 tons of CO2 equivalent per year. Mootral says its current ruminant supplement can reduce methane emissions from dairy cows by up to 38 percent on commercial farms.

One of its competitors is CH4 Global It raised $29 million in its latest funding round. CH4 Global — backed by the aforementioned Zachary Bogue of DCVC — seaweed It is added to cattle feed to reduce methane emissions.

CH4 Global CEO Steve Mellor said in an email that the company is using “aquaculture” to address the problem. Global agricultural company to supply 9.5 million head of cattle is announced. Combining these two will result in approximately 80 million tons of CO2-e reductions. ”

He claims that CH4 Global’s line of feed additives (called Methane Tamer) contains Asparagopsis, which the company claims can reduce methane emissions from cows by as much as 90%. did.

The other player in that space is DSM, a Dutch multinational companyWhich recently It said it would monitor the environmental impact of foods containing animal protein.

In any case, it is clear that the climate tech sector is intersecting with agricultural technology in unexpected ways in the fight against the climate crisis.

Source: techcrunch.com

Minister Says Ban on Social Media for Under-16s Should Be Considered Due to Potential Harm, Despite Being Speculative

Posted on December 15, 2023 by Igor Mitreski

A ban on social media use for under-16s has been branded “speculative”, but the government must “continue to consider” the need to protect children, the minister said.

Science Minister Andrew Griffiths dismissed “speculative” reports that some young people’s access to social media could be restricted as part of a “potential consultation” into the issue.

Ministers are reportedly discussing the impact of sites such as TikTok and Instagram on young people’s wellbeing, with future plans potentially forcing them to get parental permission before using social networks. It is said that there is a sex.

Asked by Sky News whether such a proposal could be enforceable, Mr Griffiths said: “Well, we’re just talking about speculation.”

He said the government had already passed online safety laws that would “make activities that were illegal offline illegal online.”

Latest politics: Businesses face ‘period of uncertainty’ over Home Office visa changes

But he went on to say that social media has had “real harm” as well as “good”.

“As a parent myself, I understand that parents feel a very strong need to protect their children from the evils of society that have been prevalent on social media in the past,” he said.

“We have already taken action and it is right to continue to consider it. I don’t think we can ever say the job is done.

“That is speculation about the possibility of talks taking place in the new year.”

Asked whether talks were taking place, he said: “I don’t think any of us know what’s going on and I’m not going to comment on any further talks at this point.”

The Online Safety Act was passed in October and aims to make the UK “the safest place online in the world”.

Under this law, regulations are imposed on businesses such as: meta and apple This is to ensure that inappropriate and potentially dangerous content is kept away from young people and vulnerable people.

Examples include content that promotes suicide or self-harm. The coroner handed down the verdict last year. that it contributed to teenagers Molly Russell to take one’s own life.

read more:
What is the Online Safety Bill? Who is for it, who is against it, and how will it be enforced?
Pornographic websites may require the use of photo ID and credit card checks to protect children

The law would also hold platforms accountable for illegal content such as child sexual abuse images, force adult websites to properly enforce age restrictions, and prevent underage children from creating social media accounts. The purpose is

Media regulator Ofcom will be responsible for enforcing the new rules, and companies that fail to do so will face fines of up to £18m or 10% of their global annual turnover, whichever is greater.

Companies and senior managers could also face criminal charges if it is determined that they are not doing enough to protect children, and in the most extreme cases, the platform’s operations in the UK could be suspended completely. There is also a possibility that it will be blocked.

Source: news.sky.com

Mastodon Founder Champions Thread Federation, Recommends X Rival as “a More Appealing Choice”

Posted on December 15, 2023 by Igor Mitreski

Mastodon founder Eugen Roszko praised Threads’ entry into the decentralized social media space, saying: say the movement I plan to make mastodon — Open source Twitter/X rival — “It’s a much more attractive option.” Mastodon’s app, powered by decentralized social networking protocol ActivityPub, has gained more attention in the wake of Elon Musk’s acquisition of Twitter. Ta. The network has since been renamed X, reflecting Musk’s ambitions to turn the microblogging platform into an all-encompassing app for creators. , payments, video, live audio, shopping.

People dissatisfied with Twitter’s changes are seeking challengers from other platforms, including the open source alternative Mastodon, and other startups such as Spill, Spoutible, Post, and Bluesky. However, things have changed again with Instagram’s entry into the “Twitter clone” field. There are now Twitter alternatives backed by Meta’s vast resources, which helped him grow his monthly active users to nearly 100 million in just three months.Today’s Mastodon Only 1.5 million monthly activesfor comparison.

More importantly for Mastodon, Meta has promised to integrate Threads and ActivityPub. This means users can find and follow both Mastodon users and Threads users across both services. Many expected that the integration wouldn’t happen until early 2024, but Meta surprised everyone yesterday by announcing that he would begin testing the ActivityPub integration.

“Making threads interoperable gives people more choice in how they interact and allows content to reach more people. I’m pretty optimistic about this.” Meta CEO Mark Zuckerberg said: In a post on the thread.

Zuckerberg did not explain how the integration would work, but Roshko cleared up the confusion in a post on Mastodon, explaining that a federation (a thread connecting to a broader group of servers running decentralized social apps) “It’s one way at the moment,” he said. ” That means Mastodon users can follow a “selected few” threads on her profile. Like Adam Mosseri, Head of Instagram — In Mastodon, however, the reverse is still not true.

Threaded users’ profiles on Mastodon were not backfilled with old posts before the integration began. Instead, your profile will display posts from this point on, but with the message “Old posts from other servers are not displayed.” Clicking on the “See more of the original profile” link will take the user to the thread instead.

Rochko is generally positive about getting tech giants to embrace ActivityPub and decentralized social media. said before“The fact that large platforms are adopting ActivityPub not only validates the movement towards decentralized social media, but also provides a path forward for people locked into these platforms to switch to better providers. There is also.”

The Mastodon founder also said that the entry of the meta “Status of “acceptance, extension, extinguishment” The ActivityPub protocol is a reference to how large companies can enter the market using an existing standard and extend that standard with unique features to beat the competition.

“…even if Threads ultimately abandons ActivityPub, where we end up is exactly where we are now,” Rochko pointed out. Blog posts this summer.

Image credits: Mastodon Eugen Roshko

As the merger gets underway, Rochko touted the move as “exciting” and “a huge deal for Mastodon.” Posts on the platform This is “a step towards the interoperable social web that we have been advocating for.”

In addition, he points out Having access to all thread users from your Mastodon account means the app becomes even more appealing when you consider other perks.

The same claim has been made by Mammoth, a third-party client of Mastodon that is backed by Mozilla. Mammoth believes its app offers a viable alternative to Threads with a competitive user interface that is more approachable for newcomers to decentralized social media. This includes users who do not want to create an account on Meta. While Threads distances itself from news, saying it doesn’t “amplify” news on its platform, Mammoth is open to news partnerships and curation, which could lead to people switching from Twitter/X to other apps. I hope that it will appeal to people.

With Threads integrated into the Mastodon ecosystem, users have more options for how they want to engage with Threads users and content, including accessing their accounts from their apps of choice.

Source: techcrunch.com

‘Avatar’ and ‘Jurassic Park’ animatronics company collaborates with Boston Dynamics

Posted on December 15, 2023 by Igor Mitreski

Since its inception as an MIT spinoff, Boston Dynamics systems have consistently provided entertainment value. The Hyundai-owned company has long embraced this by releasing dozens of highly viral videos over the decades.

However, with a few exceptions, entertainment was more of a side benefit than the ultimate goal. But that will change in the near future. just announced the deal A collaboration with Singapore-based entertainment brand Neon.

Want the top robotics news in your inbox every week? Sign up for Actuator here.

Specifically (at least for our purposes) Neon is the parent company of Animax Designs. The Nashville-based company has created theme park and exhibit animatronics for some of Hollywood’s biggest franchises, including Avatar, Jurassic Park, Marvel, and Harry Potter.

No actual details have been revealed about the deal, other than the fact that it is “scheduled to culminate in late 2024 with an announcement that will captivate, inspire and surprise viewers.” Whether this means theme park robots or something else is completely unclear at this point.

A big advantage for Neon/Animax is that Boston Dynamics can produce robust, untethered autonomous systems at scale. The world of theme park robots has changed in recent years, with Disneyland’s Star Wars Galaxy’s Edge featuring robots that interact with park visitors.

“We are excited to collaborate with Neon and Animax on the development of a fully untethered entertainment robot,” Mark Thurman, Boston Dynamics’ chief strategy officer, said in a release. “These highly interactive creatures are poised to captivate consumers through novel and exciting initiatives. By partnering with Neon, a pioneer in immersive storytelling, we are proud to share our cutting-edge technology and the company’s ’s expertise in engaging storytelling.”

The agreement marks another step in Boston Dynamics’ commercialization roadmap, which began with Spot, a quadrupedal robot, and Stretch, a truck-unloading robot. But the company’s entertainment roots go back even further.mark lybert and team I also made a robot For the set of the 1993 Sean Connery/Wesley Snipes/Michael Crichton film Rising Sun.

Source: techcrunch.com

The most recent lawsuit filed by Mr. Tem against Shane is absolutely crazy.

Posted on December 15, 2023 by Igor Mitreski

Early this week, the exchange argued that the conflict between PDD and Shein was noteworthy. PDD is a Chinese company that owns his famous Pinduoduo e-commerce business and Temu, a discount online retailer that has boomed in the US market in recent years.

Exchange explores startups, markets, and money.

Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.

Our post was timely.Two days after exploring the rivalry a bit, Tim filed a lawsuit against Shane. This isn’t the first time the company has done something like this. Earlier this year, the companies filed suit against each other solely to: lawsuit dismissed in October. Now, Tem has filed a new lawsuit alleging a series of misconduct by Shane.

How did a new lawsuit come about after the companies dropped their dueling lawsuits? According to the complaint, since the first lawsuit was dismissed, “Tem has been concerned that Shein’s anti-competitive conduct has persisted. “We found that not only that, but also that it was intensifying,” the company claims. At this point, it may be helpful to recall Temu’s parent company, his PDD. I recently passed Alibaba has a market capitalization, and Shane wants to be listed in the United States.

A Shein spokesperson told TechCrunch+ that the company “believes in the following.”[s] This lawsuit is without merit and we intend to vigorously defend it. ”

What does Tem say Shane is doing?

The claims in the lawsuit are wide-ranging. Some have taken up Tem’s view that Shein has filed countless “questionable copyright infringement lawsuits” against the company, and that Shein has filed “a plethora of malicious DMCA takedown notices” against rivals. It claims to have issued.

But that’s just the beginning. Temu also claims that Shein used its “monopoly power in the U.S. ultrafast fashion market” to abuse its suppliers, entering into “exclusive trade agreements” with ultrafast fashion suppliers through which Shein They allege that their property was wrongfully confiscated. This prevents suppliers from listing and selling similar products on her Temu or other retail platforms.

Source: techcrunch.com

Early-stage investors respond to increasing challenges in securing Series A funding

Posted on December 15, 2023 by Igor Mitreski

Lightspeed Venture Partners officially moves forward with scaling efforts as other companies make similar moves

Connie Loizos

@cookie
/
20 hours

hurdle Series A funding has increased significantly compared to a year ago, and investors in seed-stage companies are having to react.

If they want their startup to survive, they don’t have many options. When the market suddenly changed in the spring of 2022, late-stage companies were the first to feel the pain. But that downward financial pressure has also recently affected newer companies, resulting in lower valuations in subsequent rounds, up from 1.6x in the second quarter to 2013, according to Pitchbook data. This is the lowest value since the third quarter, making selection difficult. Series A investors with plenty of options.

There are countless ways VCs can get creative on this front. European venture firm Breega touts a “scaling team” to back many of its seed investments. Pear VC, a Bay Area-based seed-stage venture firm, continues to roll out new programs to support and educate the early teams it supports.

Even larger, more agnostic companies are doing more to show they’re responsive to today’s market. For example, in October, investment firm Greylock launched Edge, a three-month company-building program “aimed at taking selected pre-idea, pre-seed, and seed founders from launch to product-market fit.” It started.

VC powerhouse Lightspeed Venture Partners is also stepping up its efforts. The company has long written early (and in some cases first) checks to startups, including the messaging app Snapchat. application performance management company AppDynamics (acquired by Cisco just before his IPO); and publicly traded cloud computing company Nutanix (current market cap: $11.2 billion).

The company says it has long focused on polishing these rough diamonds. Still, given the rising standards for Series A investors overall, Lightspeed told TechCrunch that some of the mentorship the company has provided to portfolio companies for years will be extended to company-building for founders. He said that he decided to make it official through the program. launch.

The idea, led by partner Luke Betheda, is not to attract more founders to Lightspeed, but to pave the way for already-funded startups to advance to Series A rounds. It is said that Betheda explains that almost everyone faces the same questions and obstacles. “They need to know: How do I get a business up and running? How do I hire and build a core team? Build product strategy through customer interviews and build partnerships. How can we design and drive revenue?”

Going forward, Lightspeed hopes to answer these questions more systematically through expert-led workshops, seed “playbooks,” and other toolkits Lightspeed offers through new programs.

Certainly, any help, no matter how small, is greatly appreciated at this time.

While many startups simply disband, at least 3,200 According to data compiled by Pitchbook for the New York Times, venture-backed U.S. companies are expected to go out of business in 2023, but companies that focus on year-over-year growth and annual recurring revenue are realistic. Some companies think they won’t go out of business any time soon.

At this time, it also includes a Series A stage.

“In 2020, 2021 and towards the end of 2022, we went through a period of tremendous market excitement, where there was a sense that gravity was non-existent,” Benchmark VC Sarah Tavel said at TC told. At an event earlier this month, she spoke about the changing landscape of Series A funding.

“Now we’re back to the point where everyone realizes that the job of building a company is really hard. You have to have great direction for your customers. You have to have incredible direction to the fundamentals of the business you are in.”

Mr Tavel said: “It’s not just the cosmetic metrics, the top-line numbers, that get a lot of people confused. [succeed] It is what generates profits and cash flow. ”

Source: techcrunch.com

Firefox’s Android browser now features 450+ new extensions after 3-year renovation

Posted on December 15, 2023 by Igor Mitreski

The experience has gotten even better for some markets who choose Firefox instead of Chrome, the default browser on Android devices. Mozilla, the maker of Firefox, today announced the release of over 450 new extensions (also known as browser add-ons). These are currently available on his website at Mozilla. Firefox browser add-ons page. These extensions allow users to customize their mobile browser to suit their needs. Tracking protection privacy tools, content blockerproductivity tools, or other features that introduce new experiences. streaming music, or anything that allows users to personalize their browser’s user interface – etc. Switch all websites to dark mode or provide A better way to manage tabs.

The lack of extensions has been a problem for Firefox Android users for years. 2020 launch of rebuilt version of mobile browser This replaces the app’s previous codebase with a new, faster, more customizable browser engine called ‘GeckoView’. At the time, the company said he had made a decision Limits supported extensions to those in the “Recommended Extensions” program, that is, extensions that are commonly installed by end users. This choice allowed Mozilla to quickly get the new browser into consumers’ hands, but it also killed the long tail of extension development and opportunities for software developers focused on this market. .

Nightly builds of Firefox have since enabled many more extensions, but hundreds of these extensions were not accessible in the publicly available Firefox browser for Android. This meant that most mainstream users of Firefox also had no access to extensions.

In August of this year, Mozilla said We finally have the infrastructure needed to bring the open extension ecosystem back to Firefox for Android. We then began testing hundreds more extensions for Firefox Android users, culminating in today’s news that we now have over 450 extensions available.

The company highlighted the importance of having an open ecosystem, noting that nearly half of all Firefox desktop users install extensions to customize their experience.

Many of the recommended extensions for Android browsers have six-figure user numbers or more, but the apps themselves only hold a small portion of the mobile browser market due to the traction that default browsers Chrome and Safari have gained in the mobile browser market. I have not. Android and iOS respectively. On mobile devices, Firefox has a market share of only 0.5% as of November 2023. According to data from StatCounter. In comparison, Chrome’s share is 64.23%. Safari, Samsung’s browser, Opera, etc. are also ahead of Firefox in the mobile browser competition.

Still, the app has a small but loyal following, including those looking for alternative options outside of big tech companies. One of its key selling points is automatic tracker blocking, which is appealing to those who value privacy. According to Google Play Store data, Firefox for Android has surpassed 100 million installs to date.

“The opportunities for innovation are huge,” said Giorgio Natiri, Director of Engineering at Firefox. announcement About launching extensions. “It’s exciting to see extension developers capitalizing on this moment and creating novel browsing experiences and features for Firefox for Android users. You don’t have to browse the mobile web with Extensions, which give you the freedom to change the way Firefox for Android looks and behaves. As more developers innovate in this exciting new field, things get even better. It will be,” he added.

Source: techcrunch.com

Large-scale language models are used by Agility to communicate with humanoid robots

Posted on December 15, 2023 by Igor Mitreski

I’ve spent most of the past year discussing generative AI and large-scale language models with robotics experts. It is becoming increasingly clear that this type of technology is poised to revolutionize the way robots communicate, learn, look, and program.

Therefore, many leading universities, research institutes, and companies are exploring the best ways to leverage these artificial intelligence platforms. Agility, a well-funded Oregon-based startup, has been experimenting with the technology for some time with its bipedal robot Digit.

Today, the company is showcasing some of its accomplishments in a short video shared across its social channels.

“[W]We were curious to see what we could accomplish by integrating this technology into Digit,” the company said. “The physical embodiment of artificial intelligence created a demonstration space with a series of numbered towers of several heights and three boxes with multiple features. Digit has We were given information about the environment, but we were not given any specific information about the task, just to see if we could execute natural language commands of varying complexity.”

In the video example, Digit is instructed to pick up a box colored “Darth Vader’s Lightsaber” and move it to the tallest tower. As you might expect from early demos, the process is not instantaneous, but rather slow and methodical. However, the robot performs the task as described.

Agility says: “Our innovation team developed this interactive demo to show how LLM can make robots more versatile and faster to deploy. In this demo, people can use natural language to communicate with Digit. You can talk to it and ask it to perform tasks, giving you a glimpse into the future.”

Want the top robotics news in your inbox every week? Sign up for Actuator here.

Natural language communication is an important potential application of this technology, along with the ability to program systems through low-code and no-code technologies.

On my Disrupt panel, Gill Pratt explained how Toyota Research Institute is using generative AI to accelerate robot learning.

We figured out how to do something. It uses the latest generative AI techniques that allow humans to demonstrate both position and force, essentially teaching the robot from just a handful of examples. The code hasn’t changed at all. What is this based on? There is a popularization policy. This is a study we conducted in collaboration with Columbia and MIT. We have taught 60 different skills so far.

MIT CSAIL’s Daniela Russ also told me recently: “Generative AI turns out to be very powerful in solving even motion planning problems. It provides much faster solutions and more fluid and human-like control solutions than using model prediction solutions. I think this is very powerful because the robots of the future will be much less robotic. Their movements will be more fluid and human-like.”

The potential applications here are wide and exciting. And Digit, as an advanced commercial robotic system being piloted in Amazon fulfillment centers and other real-world locations, seems like a prime candidate. If robots are to work alongside humans, they will also need to learn to listen to us.

Source: techcrunch.com

The holiday season sees ongoing cryptocurrency hacks and chaos

Posted on December 15, 2023 by Igor Mitreski

Welcome to Chain Reactions.

Get a roundup of TechCrunch’s biggest and most important crypto articles delivered to your inbox every Thursday at 12pm PT. Subscribe here.

If you’re feeling the holiday spirit this month, you’re probably aligning yourself with the millions of people who are spreading joy, love, warmth, and even generosity.

But if you’re feeling like the Grinch, you’re probably joining a smaller group of individuals, one that may (in this analogy) include crypto hackers. there is.

Even though it’s a fun season, hackers haven’t stopped. But hey, playing devil’s advocate, the attackers may be overjoyed every time someone falls for their scam. Two sides of the coin.

Earlier Thursday, hackers breached the code behind the cryptographic protocols used by multiple Web3 applications and services, crypto software and hardware wallet maker Ledger announced Thursday.

It was not immediately clear how many people were victims of the hack. ZachXBT, a well-known independent crypto researcher, wrote to X that one of the victims had over $600,000 in crypto assets leaked from his account.

Please see below for details.

what is happening in web3

Users hacked in supply chain attack targeting Ledger cryptocurrency wallets
Bitcoin ATM company Coin Cloud has been hacked. Even the new owners don’t know how.
Worldcoin adds integration with Minecraft, Reddit, Telegram, Shopify, Mercado Libre
Korus, a startup founded by Deadmau5, uses AI to create music

latest pod

this week's episode, Jacqueline We interviewed Johan Kerblatt, General Manager of Cryptocurrency at Robinhood.

Johan is leading applications efforts to grow the cryptocurrency exchange business and make digital assets more accessible to retail investors.

Before joining Robinhood, Johan was an engineer at Airbnb, served as Head of Engineering at Uber and VP of Engineering at privacy-focused crypto startup Iron Fish.

We discussed Robinhood's expansion outside the US, how the platform restricted holdings and trading of certain crypto assets in June, and the current situation.

We also discussed:

appeal to mainstream audiences
Grow your cryptocurrencies on the platform
Regulatory concerns
Robinhood’s 2024 Goals

apply Chain reaction upon apple podcast, spotify Or catch up on the latest episodes using your favorite pod platform. If you like what you hear, please leave a review.

follow the money

Line Next secures $140 million in funding for its Web3 platform
Lolli raises $8M in Series B to expand Bitcoin and cashback benefits to businesses
Andalusia Labs raises $48 million in Series A to improve risk infrastructure for digital assets
Dynamic raises $13.5 million from a16z cryptocurrency and Founders Fund for easy access to Web3 and cryptocurrency wallets
Avalanche-based Nodekit raises $1.2M in pre-seed round to build rollup-focused network

This list was compiled using information from Messari and TechCrunch's own reporting.

what else are you writing?

Ready to step outside the world of Web3? Here are some TechCrunch articles that caught our attention this week.

Mr. Tem’s latest lawsuit against Shane is wild (TC+)
OpenAI believes superhuman AI is coming and wants to build tools to control it.
AI is not evil and will not get smarter any time soon, but it is also irreversibly pervasive.
Here's where founders mess up their pitch decks most often (TC+)
Possible regulations surrounding generative AI (TC+) are on the horizon

Follow us on Twitter @Jacqmelinek Get the latest cryptocurrency news, memes, and more.

Source: techcrunch.com

7 Affordable Photo Gifts for 2023

Posted on December 15, 2023 by Igor Mitreski

Are you passionate about photography but feeling limited by the capabilities of your iPhone’s camera? Finding the perfect photography gifts and equipment can be overwhelming, but there’s no need to break the bank for a new camera. These fun options prioritize play and allow anyone to expand their photographic horizons without spending a fortune.

When it comes to hobbies, photography is very personal, with everyone having their own style, tastes, and equipment preferences. Whether you prefer film or digital photography, there are plenty of options to explore. Instant photography provides exciting and tactile options for those looking to break out of the smartphone photography mindset. Film and instant photography have made a comeback, focusing on the fun and serendipity of printing photos on the fly.

For aspiring content creators or those looking to elevate their vacation photos, consider Joby’s series of tripods designed for smartphones. Joby tripods allow you to securely mount your smartphone anywhere, making use of its high-resolution front-facing camera for stunning shots.

For those seeking adventure and fast-paced action photography, GoPro cameras are durable and designed for extreme environments. The industry-standard GoPro Hero Black is versatile and comes with a variety of accessories.

When it comes to camera bags, Peak Design and Wandrd offer a range of options to fit different needs. Whether you need a small hip-belt pack or a spacious backpack for all your gear, these brands have you covered.

If you’re interested in instant photography with filters and customizable options, the Fujifilm Instax Mini Evo offers a twist on traditional instant cameras. You can choose which photos to print and even wirelessly send photos from your smartphone for printing.

For a truly unique and thoughtful gift, consider vintage film cameras and high-quality film. Shooting with film slows you down and makes each shot feel special, providing a more tactile photography experience.

No matter what type of photography you’re interested in, there are plenty of options for fun and unique gifts to expand your creative horizons.

Source: techcrunch.com

Getaround’s Third Quarter Results Encourage Investors, but the Company Still Faces Challenges

Posted on December 15, 2023 by Igor Mitreski

peer-to-peer car sharing company Moving filed its first earnings report since going public a year ago Via SPAC combination. The company’s third-quarter earnings report details that while revenue is growing rapidly, it still doesn’t generate enough sales to cover expenses.

Getaround reported gross bookings of $69 million in the third quarter, resulting in revenue of $23.8 million in the period, up from $16.7 million in the year-ago period. In the first nine months of 2023, Getaround’s revenue reached his $54 million.

But while Getaround’s reported 42% year-over-year revenue growth in the third quarter has been well-received by investors, who have sent the stock up 75% in after-hours trading at the time of writing, the company is not. Still out of the forest.

Getaround’s operating expenses in the third quarter were worth $42.9 million, compared to the equivalent of $128 million for the first three quarters of this year, both numbers significantly higher than its gross profit for both periods. Still, Getaround has made some progress on the profitability front. In the third quarter, the company had a net GAAP loss of $27.3 million, an improvement of 16% from the third quarter of 2022 report. Using a more generous profit calculation, Get Around remained unprofitable in the latest quarter, with his adjusted EBITDA reported at -$11.3 million. Over the three-month period, it improved by 43% year-over-year.

Getaround is targeting gross bookings in the range of $200 million to $205 million for the full year of 2023. The company did not disclose revenue targets for this year, but third-quarter revenue reflects an annual run rate of more than $95 million. Getaround expects its 2023 adjusted EBITDA loss to be in the range of $68 million to $70 million.

Getaround ended the third quarter with $22.1 million in cash and cash equivalents. This number is a significant departure from the $64.3 million reported in cash and equivalents at the end of the third quarter of 2022. The company got some good news in the form of a $3 million infusion from Madrick Capital. Madrick Capital has an existing $15 million note with the company, which was expanded to provide a little more headroom for the getaround.

Getaround stock closed regular trading at about $0.17 on Thursday, ahead of the release of third-quarter data.

Rebuilding

Getaround is working to clean up its cost base, including reducing the company’s workforce. 10% of staff In February, the company announced that it would cut costs by $25 million to $30 million a year to achieve sustainability. The layoffs came a day after Getaround was declared a state of emergency. Delisting Notice from the New York Stock Exchange This is because the stock price was trading too low.

Now that the stock price has risen significantly following the earnings report, GetAround is still worth less than $1 per share, meaning it is still at risk of being delisted.Several SPAC combinations were executed reverse stock split This is probably why earnings per share have remained in the 100 yen range.

Getaround has also received other delisting notices for failing to timely file annual and quarterly reports. The company has not filed its 2022 annual report and just filed its third quarter earnings report. Getaround has not yet filed its first and second quarter results. The company says it will need more time to complete the audit and has now completed it.

Getaround CEO Sam Zaid told TechCrunch: Mr. Zaid would not comment on whether GetAround would seek a reverse stock split to boost its stock price.

car sharing companies too Acquires assets of startup HyreCar This will increase Getaround’s operating costs in the short term. Getaround hopes the scale provided by the acquisition will help accelerate its path to profitability.

This article has been updated with information from Getaround’s CEO.

Source: techcrunch.com

What is the status of the influx of new venture funds?

Posted on December 15, 2023 by Igor Mitreski

More venture companies may be opening the champagne corks before the New Year. Several investment companies announced new funds today. Artis VenturesBoxGroup, Playground Global, and Singular have all suspended funding; Partek announced the launch of a 360 million euro venture fund.

The announcements come as something of a shock, especially coming so quickly against a backdrop of layoffs and continued economic uncertainty. But they point out some fundamental truths about the current market.

Institutional investors remain interested in venture capital as an asset class. With a more rational valuation, they think his 2024 is a good time to put money into startups. They also want to maintain relationships with venture companies that have made some promises in recent years, especially after a bit of a breather in 2023.

As Eric Hippeau, managing partner at Lerer Hippeau, told TechCrunch last year when the company raised $230 million for 2022, this is what will happen in 2021.[A]All of our limited partners were completely overwhelmed by people raising money twice a year or much more than they normally would. ”

The question is to what extent LPs are starting to loosen their purse strings, and despite today’s flurry of funding news, the answer is far from clear.

Steph Chiu, a partner at venture firm Portage, insists that “the funding environment remains tough.” She believes that what we are seeing is a result of continued interest in funds with strong track records and distributions on paid-in capital.

Karim Gharani, general partner at Luge Capital, agrees. Limited partners “will continue to support fund managers who believe they can not only consistently select these companies, but also participate in those transactions when they are competitive,” Galani said in an email.

Falling valuations may also attract the attention of institutional investors. Their portfolio managers may have been overpaying for trades in recent years due to frothy markets, and could be getting better deals with talented teams, at least for now. .

“If you have dry powder as a fund, now is the time to deploy it, because the best vintages in venture history have come from the post-valuation reset period,” Choo said in an email. “Some forward-thinking LPs are also looking at similar historical trends, along with broader macros (strong public market performance, calls for soft landings, etc.), which will likely lead to renewed interest next year. there is a possibility.”

Meanwhile, LPs may not be reacting too much to what’s just around the corner in 2024, but may be looking out over a longer time horizon, especially given that venture funds typically invest over 10-year time horizons. There is.

As Gallani points out, the announcement of so many new funds does not necessarily indicate that 2024 will be a “year of prosperity.” The venture industry, which is always a cyclical business, is likely to recover, and this recovery is likely to occur sooner or later.

Connie Loizos also contributed to this article.

Source: techcrunch.com

Co-founder of Credit Karma, Nicole Mustard, resigns after 16 years in the company

Posted on December 15, 2023 by Igor Mitreski

Credit Karma co-founder and chief revenue officer Nichole Mustard is leaving the company after 16 and a half years, TechCrunch exclusively learned today.

A spokesperson for the consumer fintech, now a subsidiary of Intuit, confirmed Mustard’s departure in an email, writing only: “We are certain that she has decided to leave the company. Her contribution has been significant and we wish her all the best.”

Mr. Mustard’s decision to step down marks the third high-profile departure of an executive at Credit Karma in 2023. Verified blind user. Colleen McCleary, Chief Human Resources Officer He resigned from his role in January and joined Ribbit Capital as an investor in June. In September, Greg Lulu announced: resign from the position of chief marketing officer As soon as his replacement is found.

Intuit closes with $8.1 billion in cash and stock sales purchase Credit Karma took a big hit in 2020, and things have been a bit volatile ever since.

Last November, Credit Karma confirmed to TechCrunch that it had “decided to pause substantially all hiring activities” due to “revenue challenges due to an uncertain environment.” At that time, we shared within the company: All credit karma areas were “negatively affected by macro uncertainty,” it said. Credit Karma experienced further deterioration in these areas in the final weeks of the first quarter [of 2022]”

In August, Intuit reported that Credit Karma confirmed the situation. decrease in income For the fiscal year ending July 31, 2023, it will increase 9% to $1.6 billion. Earlier this year, Intuit announced that: Personal finance app “Mint” terminated In January.intuition Acquired the Mint in 2009and the decision to close it came as a surprise to many.

Want more fintech news in your inbox? Sign up for Interchange here.

Source: techcrunch.com

The beta version of MrBeast’s analytics platform ViewStats has launched.

Posted on December 14, 2023 by Igor Mitreski

Top US YouTuber MrBeast (Jimmy Donaldson) co-founds new analytics platform Viewing statistics, currently available in beta. similar to tools like social blade ViewStats uses the YouTube API to expose detailed statistics about your channel that can be viewed by both creators and fans.

It’s no coincidence that MrBeast has become one of the highest-paid creators of all time. He pays close attention to every detail of his videos. He recently did an A/B test to see whether a video performs better with thumbnails with open mouths or thumbnails with mouths not open (apparently, thumbnail with closed mouth win). So if he thinks certain metrics are essential to an analytics platform, they’re probably important.

Founded with creator Chucky Appleby, who works with MrBeast, ViewStats differentiates itself with this star power. Celebrity-backed startups aren’t as big as they seem, but star power in this case shouldn’t be underestimated. I myself witnessed this phenomenon when I attended a panel discussion hosted by MrBeast about understanding the YouTube algorithm. Seats filled up quickly and so many people turned away at the gate that VidCon probably could have given him a room twice his size and still get an overflow line. We wanted to hear the opinions of all creators, regardless of genre. This is what the algorithm king had to say.

Similar to Socialblade, ViewStats displays basic information such as number of subscribers, estimated monthly ad revenue, number of video views, and how those numbers fluctuate over a period of time. ViewStats is also available as a Chrome extension. applebee said More tools will be added to the platform in the future, including a thumbnail analysis tool. It’s not clear at this point how the platform plans to monetize, but Socialblade is monetizing certain more advanced analytics by putting them behind a paywall.

according to tube filter, ViewStats is a separate company from MrBeast, LLC. Both MrBeast and CEO Appleby funded this effort with their own money.

Source: techcrunch.com