Blog of the website «TechCrunch» Прогноз погоды

People

John Smith

John Smith, 48

Joined: 28 January 2014

Interests: No data

Jonnathan Coleman

Jonnathan Coleman, 32

Joined: 18 June 2014

About myself: You may say I'm a dreamer

Interests: Snowboarding, Cycling, Beer

Andrey II

Andrey II, 41

Joined: 08 January 2014

Interests: No data

David

David

Joined: 05 August 2014

Interests: No data

David Markham

David Markham, 65

Joined: 13 November 2014

Interests: No data

Michelle Li

Michelle Li, 41

Joined: 13 August 2014

Interests: No data

Max Almenas

Max Almenas, 53

Joined: 10 August 2014

Interests: No data

29Jan

29Jan, 32

Joined: 29 January 2014

Interests: No data

s82 s82

s82 s82, 26

Joined: 16 April 2014

Interests: No data

Wicca

Wicca, 37

Joined: 18 June 2014

Interests: No data

Phebe Paul

Phebe Paul, 27

Joined: 08 September 2014

Interests: No data

Артем Ступаков

Артем Ступаков, 93

Joined: 29 January 2014

About myself: Радуюсь жизни!

Interests: No data

sergei jkovlev

sergei jkovlev, 59

Joined: 03 November 2019

Interests: музыка, кино, автомобили

Алексей Гено

Алексей Гено, 8

Joined: 25 June 2015

About myself: Хай

Interests: Интерес1daasdfasf, http://apple.com

technetonlines

technetonlines

Joined: 24 January 2019

Interests: No data



Blog

<< Back Forward >>
Topics from 1 to 10 | in all: 51000

Meet the b2b videoconferencing startup that’s gone crazy for online dating

13:51 | 24 January

Founder Andreas Kröpfl has spent almost a decade hard-grafting in the b2b unified communications space, building a videoconferencing business with a patented single-stream system and a claim of no ‘drop-offs’ thanks to “unique low-bandwidth technology”.

His Austria-based startup’s current web-based videoconferencing system, eyeson (née Visocon), which launched in 2018, has had some nice traction since launch, as he tells it, garnering a few million customers and getting a nomination nod as a Gartner Cool Vendor last year.

Eyeson’s website touts ‘no hassle, no, lag, no downloads’ video calls. Pricing options for the target b2b users run the gamut from freelance pro to full-blown enterprise. While the business itself has pulled in a smidge less than $7M in investor funding over the years.

But when TechCrunch came across Kröpfl last December, pitching hard in startup alley at Disrupt Berlin, he was most keen to talk about something else entirely: Video dating.

That’s because last summer the team decided to branch out by building their own video dating app, reusing their core streaming tech for a consumer-focused social experiment. And after a period of internal beta testing — which hopefully wasn’t too awkward within a small (up-til-then) b2b-focused team — they launched an experimental dating app in November in India.

The app, called Ahoi, is now generating 100,000 video calls and 250,000 swipes per day, says Kröpfl.

This is where he breaks into a giggle. The traction has been crazy, he says. 

In the staid world of business videoconferencing you can imagine eyeson’s team eyeing the booming growth of certain consumer-focused video products rather enviously.

Per Kröpfl, they had certainly noticed different desires among their existing users — which pushed them to experiment. “We saw that private people like the simple fun features (GIF reactions, …) and that business meetings were more focused on ‘drop-off’ [rates] and business features,” he tells us. “To improve both in one product was not working any more. So eyeson goes business plus SaaS.”

“Cloning eyeson but make it social,” is how he sums up the experiment. 

Ahoi is very evidently an MVP at this stage. It also looks like a pretty brave and/or foolish (depending on your view) full-bore plunge into video dating, with nothing so sophisticated as a privacy screen to prevent any, er, unwanted blushes… (Whereas safety screening is an element we’ve recently seen elsewhere in the category — see: Blindlee.)

There’s also seemingly no way for users to specify the gender they wish to talk to.

Instead, Ahoi users state interests by selecting emoji stickers — such as a car, cat, tennis racket, games console or globetrotter. And, well, it goes without saying that even if you like cars a lot you’re unlikely to change your sexual orientation over the category.

There are no generic emoji that could be used to specify a sexual interest in men or women. But, er, there’s a horse…

Such limits may explain why Ahoi is generating so many early swipes — and rather fewer actual calls — in that the activity sums to (mostly) men looking for women to videochat with and being matched with, er, men.

And frustration, sexual or otherwise, probably isn’t the greatest service to try and sell.

Still, Kröpfl reckons they’ve landed on a winning formula that makes handy reuse of their core videoconferencing tech — letting them growth hack in a totally new category. Swipe right to video date.

“People are disappointed by perfect profiles on Tinder and the reality when meeting people,” he posits. “Wasted time. Especially women do not want to be stalked by men pretending to be someone else. We solve both by a real live conversation where only after a call both can decide to be connected or never see each other again.”

Notably, marketing around the app does talk rather fuzzily about it being a way to “find new pals”.

So while Kröpfl frames the experiment as dating, the reality of the product is more ‘open to options’. Think of it as a bit like Chatroulette — just with slightly more control (in that you have a few seconds to decide if you don’t want to talk to the next in-app match).

The very short countdown timer (you get just five seconds to opt out of a matched video chat) is very likely generating a fair number of unintended calls. Though such high velocity matching might appeal to a certain kind of speed dating addict.

Kröpfl says Ahoi has been seeing up to 20,000 new users added daily. They’re bullishly targeting 3M+ users this year, and already toying with ideas for turning video dates into a money spinner by offering stuff like premium subscriptions and/or video ads. He says the plan is to turn Ahoi into a business “step by step”.

“Everyone loves to make his profile better,” he suggests, floating monetization options down the line. Quality filtering for a fee is another possibility (“everyone is annoyed by being connected to the wrong people”).

They picked India for the test launch because it has a lot of people on the same timezone, a large active mobile user-base and cheap marketing is still “easily possible”. He also says that dating apps seemed popular there, in their experience. (Albeit, the team presumably didn’t have a great deal of relevant experience in this category — given Ahoi is an experiment.)

The intent is also to open Ahoi up to other markets in time too, once they get more accustomed to dealing with all the traffic. Kröpfl notes they had to briefly take the app off the store last month, as they worked on adding more server capability.

“It is very early and we were not prepared for this usage,” he says, admitting they’ve been “struggling to work on early feedbacks”. “We had to make it invisible temporarily — to improve server capacity and stability.”

The contrast in pace of uptake between the stolid (but revenue-generating) world of business meeting-fuelled videoconferencing and catnip consumer dating — which is money-sucking unless or until you can hit a critical mass of usage and get the chance to try applying monetization strategies — does sound like it’s been rather irresistible to Kröpfl.

Asked what it feels like to go from one category to the other he says “crazy, surprised and thrilling”, adding: “It is somehow also frustrating when all the intense b2b work is not as closely interesting to people as Ahoi is. But amazing that it is possible thanks to an extremely focused and experienced team. I love it.” 

TechCrunch’s Manish Singh agreed to brave the local video dating app waters in India to check Ahoi out for us.

He reported back not having seen any women using the app. Which we imagine might be a problem for Ahoi’s longer term prospects — at least in that market.

“I spoke with one guy, who said his friend told him about the app. He said he joined to talk to girls but so far, he is only getting matched with boys,” said Singh. “I saw several names appear on the app, but all of them were boys, too.”

He told us he was left wondering “why people are on these apps, and why they have so much free time on a weekday”.

For ‘people’ it seems safe to conclude that most of Ahoi’s early adopters are men. As the Wall Street Journal reported back in 2018, India’s women are famously cool on dating apps — in that they’re mostly not on them. (We asked Kröpfl about Ahoi’s gender breakdown but he didn’t immediately get back to us on that.)

That market quirk means those female users who are on dating apps tend to get bombarded with messages from all the lonely heart guys with not much to swipe. Which, in turn, could make a video dating app like Ahoi an unattractive prospect to female users — if there’s any risk at all of being inundated with video chats.

And even if there are enough in-app controls to prevent unwelcome inundation by default, women also might not feel like they want their profile to be seen by scores of men simply by merit of being signed up to an app — as seems inevitable if the gender balance is so skewed.

Add to that, if the local perception among single women is that men on dating apps are generally a turn-off — because they’re too eager/forward — then jumping into any unmoderated video chat is probably not the kind of safe space these women are looking for.

No matter, Kröpfl and his team are clearly having far too much fun growth hacking in an unfamiliar, high velocity consumer category to sweat the detail. 

What’s driving Ahoi’s growth right now? “Performance marketing mainly,” he says, pointing also to “viral engagement by sharing and liking profiles”.

Notably, there are already a lot of reviews of Ahoi on Google Play — an unusual amount for such an early app. Many of them appear to be five star write-ups from accounts with European-sounding names and a sometimes robotic grasp of language.

“Eventhough Ahoi has been developed recently, it had high quality for user about calling, making friends and widing your knowlegde [sic],” writes one reviewer with atrocious spelling whose account is attached to the name ‘Dustin Stephens.’

“Talking with like minded people and same favor will creat a fun and interesting atmosphere. Ahoi will manage for you to call like condition above,” says another apparently happy but confused-sounding user, going by the name ‘Elisa Herring’.

There’s also a ‘Madeleine Mcghin’, whose profile uses a photo of the similarly named child who infamously disappeared during a holiday in Portugal in 2007. “My experience with this app was awesome,” this individual writes. “It gives me the option to find new people in every country.”

Another less instantly tasteless five-star reviewer, ‘Stefania Lucchini’, leaves a more surreal form of praise. “A good app and it will bring you extra income, I would say it’s a great opportunity to have AHOI and be a part of it but it’s that it will automatically ban you even if you don’t show it. Marketing. body part, there are still 5 stars for me,” she (or, well, ‘it’) writes.

Among the plethora of dubious five-star reviews a couple of one-star dunks stand out — not least because they come from accounts with names that sound like they might actually come from India. “Waste u r time,” says one of these, using the name Prajal Pradhan.

This pithy drop-kick has been given a full 72 thumbs-up by other Play Store users.

 


0

Here are all 21 companies from Alchemist Accelerator’s latest batch

06:46 | 24 January

We’re down in Sunnyvale, CA today, where Alchemist Accelerator is hosting a demo day for its most recent batch of companies. This is the 23rd class to graduate from Alchemist, with notable alums including LaunchDarkly, MightyHive, Matternet, and Rigetti Computing. As an enterprise accelerator, Alchemist focuses on companies that make their money from other businesses, rather than consumers.

21 companies presented in all, each getting five minutes to explain their mission to a room full of investors, media, and other founders.

Here are our notes on all 21 companies, in the order in which they presented:

i-50: Uses AI to monitor human actions on production lines, using computer vision to look for errors or abnormalities along the way. Founder Albert Kao says that 68% of manufacturing issues are caused by human error. The company currently has 3 paid pilots, totalling $190k in contracts.

Perimeter: A data visualization platform for firefighters and other first responders, allowing them to more quickly input and share information (such as how a fire is spreading) with each other and the public. Projecting $1.7M in revenue within 18 months.

Einsite: Computer vision-based analytics for mining and construction. Sensors and cameras are mounted on heavy machines (like dump trucks and excavators). Footage is analyzed in the cloud, with the data ultimately presented to job site managers to help monitor progress and identify issues. Founder Anirudh Reddy says the company will have $1.2M in bookings and be up and running on 2100 machines this year.

Mall IQ: A location-based marketing/analytics SDK for retail stores and malls to tie into their apps. Co-founder Batu Sat says they’ve built an “accurate and scalable” method of determining a customer’s indoor position without GPS or additional hardware like Bluetooth beacons.

Ipsum Analytics: Machine learning system meant to predict the outcome of a company’s ongoing legal cases by analyzing the relevant historical cases of a given jurisdiction, judge, etc. First target customer is hedge funds, helping them project how legal outcomes will impact the market.

Vincere Health: Works with insurance companies to pay people to stop smoking. They’ve built an app with companion breathalyzer hardware; each time a user checks in with the breathalyzer to prove they’re smoking less, the user gets paid. They’ve raised $400k so far.

Harmonize: A chat bot system for automating HR tasks, built to work with existing platforms like Slack and Microsoft Teams. An employee could, for example, message the bot to request time off — the request is automatically forwarded to their manager, presenting them with one-click approve/deny buttons which handle everything behind the scenes. The company says it currently has 400 paying customers and is seeing $500k in ARR, projecting $2M ARR in 2020.

Coreshell Technologies: Working on a coating for lithium-Ion batteries which the company says makes them 25% cheaper and 50% faster to produce. The company’s co-founder says they have 11 patents filed, with 2 paid agreements signed and 12 more in the pipeline.

in3D: An SDK for 3D body scanning via smartphone, meant to help apps do things like gather body measurements for custom clothing, allow for virtual clothing try-ons, or create accurate digital avatars for games.

Domatic: “Intelligent power” for new building construction. Pushes both data and low-voltage power over a single “Class 2” wire , making it easier/cheaper for builders to make a building “smart”. Co-founder Jim Baldwin helped build Firewire at Apple, and co-founder Gladys Wong was previously a hardware engineer at Cisco.

MeToo Kit: a kit meant to allow victims of sexual assault or rape to gather evidence through an at-home, self-administered process. Co-founder Madison Campbell says that they’ve seen 100k kits ordered by universities, corporations, non-profits, and military organizations. The company garnered significant controversy in September of 2019 after multiple states issued cease-and-desist letters, with Michigan’s Attorney General arguing that such a kit would not be admissible in court. Campbell told Buzzfeed last year that she would “never stop fighting” for the concept.

AiChemist Metal: Building a thin, lightweight battery made of copper and cellulose “nanofibers”. Co-founder Sergey Lopatin says the company’s solution is 2-3 lighter, stronger, and cheaper than alternatives, and that the company is projecting profitability in 2021. Focusing first on batteries for robotics, flexible displays, and electric vehicles.

Delightree: A task management system for franchises, meant to help owners create and audit to-dos across locations. Monitors online customer reviews, automatically generating potential tasks accordingly. In pilot tests with 3 brands with 16 brands on a waitlist, which the company says translates to about $400k in potential ARR.

DigiFabster: A ML-powered “smart quoting” tool for manufacturing shops doing things like CNC machining to make custom parts and components. Currently working with 125 customers, they’re seeing $500k in ARR.

NachoNacho: Helps small/medium businesses monitor and manage software subscriptions their employees sign up for. Issues virtual credit cards which small businesses use to sign up for services; you can place budgets on each card, cancel cards, and quickly determine where your money is going. Launched 9 months ago, NachoNacho says it’s currently working with over 1600 businesses.

Zapiens: a virtual assistant-style tool for sharing knowledge within a company, tied into tools like Slack/Salesforce/Microsoft 365. Answers employee questions, or uses its understanding of each employee’s expertise to find someone within the company who can answer the question.

Onebrief: A tool aiming to make military planning more efficient. Co-founder/Army officer Grant Demaree says that much of the military’s planning is buried in Word/Powerpoint documents, with inefficiencies leading to ballooning team sizes. By modernizing the planning approach with a focus on visualization, automation and data re-usability, he says planning teams could be smaller yet more agile.

Perceive: Spatial analytics for retail stores. Builds a sensor that hooks into existing in-store lighting wiring to create a 3D map of stores, analyzing customer movement/behavior (without face recognition or WiFi/beacon tracking) to identify weak spots in store layout or staffing.

Acoustic Wells: IoT devices for monitoring and controlling production from oil fields. Analyzes sound from pipes “ten thousand feet underground” to regulate how a machine is running, optimizing production while minimizing waste. Charges monthly fee per oil well. Currently has letters of intent to roll out their solution in over 1,000 wells.

SocialGlass: A marketplace for government procurement. Lets governments buy goods/services valued under $10,000 without going through a bidding process, with SocialGlass guaranteeing they’ve found the cheapest price. Currently working with 50+ suppliers offering 10,000 SKUs.

Applied Particle Technology: Continuous, realtime worker health/safety tracking for industrial environments. Working on wireless, wearable monitors that stream environmental data to identify potential exposure risks. Focusing first on mining and metals industries, later moving into construction, firefighting, and utilities environments.

 


0

Relativity Space could change the economics of private space launches

02:25 | 24 January

The private launch market is an area of a lot of focus in the emerging space startup industry, not least because it unlocks the true potential of most of the rest of the market. But so far, we can count on one hand the number of new, private space launch companies that have actually transported payloads to orbit. Out of a number of firms racing to be the next to actually launch, LA-based Relativity Space is a prime contender, with a unique approach that could set it apart from the crowd.

I spoke to CEO Tim Ellis about what makes his company different and about what kind of capabilities it will bring to the launch market once it starts flying, something the company aims to do beginning next year. Fresh off a $140 million funding round in October 2019, Relativity’s model could provide another seismic shift in the economics of doing business in space, and has the potential to be as disruptive to the landscape — if not more so — as SpaceX.

“We built the largest metal 3D printers in the world, which we call a ‘Stargate,’ ” Ellis said. “It’s actually replacing a whole factory full of fixed tooling — and having all of our processes being 3D printing, we really view that as being the future because that lets us automate almost the entire rocket production, and then also reduce part count for much larger launch vehicles so our rocket can carry a 1,250-kg payload to orbit.” Because Relativity Space’s launch vehicle is nearly 10 times larger than those made by Rocket Lab or Orbex, “it’s a totally different payload class.”

That difference is crucial, and represents the paradigm shift that Relativity Space could engender once its products are introduced to the commercial market. The company knows first-hand how its approach fundamentally differs from existing launch providers like Blue Origin and SpaceX — Ellis previously worked as a propulsion engineer at Blue Origin, and co-founder and CTO Jordan Noone worked on SpaceX’s Dragon capsule program. Ellis said Relativity’s approach won’t just unlock cost savings due to automation, it will also provide clients with the ability to launch payloads that weren’t possible with previous launch vehicle design constraints.

 


0

Wikipedia now has more than 6 million articles in English

02:19 | 24 January

Wikipedia has surpassed a notable milestone today: The English version of the world’s largest online encyclopedia now has over six million articles.

The feat, which comes roughly 19 years after the website was founded, is a testament of “what humans can do together,” said Ryan Merkley, Chief of Staff at Wikimedia, the non-profit organization that operates the omnipresent online encyclopedia.

The 6 millionth article is about Maria Elise Turner Lauder, a 19th-century Canadian school teacher, travel writer, and fiction writer. The article was written by Rosie Stephenson-Goodknight, a long time editor of Wikipedia.

Wikipedia is available in dozens of languages, but its English-language version has the most number of articles. Following English edition, which hit 5 million articles in late 2015, are German version, with about 2.3 million articles, and the French version that has about 2.1 million articles.

Over the years, Wikipedia has conducted seminars in many nations to encourage more people to become contributors in their own local languages, and has also improved its tools to make the writing, editing, and publishing processes easier.

 

 


0

Playing traffic cop for drones in cities and towns nets Airspace Link $4 million

01:27 | 24 January

As the number of drones proliferates in cities and towns across America, government agencies are scrambling to find ways to manage the oncoming traffic that’s expected to clog up their airspace.

Companies like Airmap and KittyHawk have raised tens of millions to develop technologies that can help cities manage congestion in the friendly skies and now they have a new competitor in the Detroit-based startup, Airspace Link, which just raised $4 million from a swarm of investors to bring its services to the broader market.

The financing for Airspace Link follows the company’s reception of a stamp of approval from the Federal Aviation Administration for low altitude authorization and notification capabilities, according to chief executive Michael Healander.

According to Healander, what distinguishes Airspace Link from the other competitors in the market is its integration with mapping tools used by municipal governments to provide information on ground-based risk.

“We’re creating the roads based on ground-based risk and we push that out into the drone community to let them know where it’s okay to fly,” says Healander.

That knowledge of terrestrial critical assets in cities and towns comes from deep integrations between Airspace Link and the mapping company Esri, which has long provided federal, state, and local governments with mapping capabilities and services.

We’ve just spent the past month understanding what regulation is going to be around to support it. In two years from now every drone will be live tracked in our platform,” says Healnder. “Today we’re just authorizing flight plans.”

As drone operators increase in number, the autonomous vehicles pose more potential risks to civilian populations in the wrong hands.

Parking lots, sporting events, concerts — really any public area — could be targets for potential attacks using drones.

“Drones are becoming more and more powerful and smarter,” EU Security Commissioner Julian King warned in a statement last summer, “which makes them more and more attractive for legitimate use, but also for hostile acts.”

Already roughly half of the population of the U.S. lives in controlled airspace where drones which are flying with over a half a pound of weight require flight plan authorization, according to Healander.

“We build out population data and give state and local governments a tool to create advisories for emergency events or any areas where high densities of people will be,” says Healander. “That creates an advisory that goes through our platform to the drone industry.”

Airspace Link closed a $1 million pre-seed round in September 2019 with a $6 million post-money valuation. The current valuation of the company is undisclosed, but the company’s progress was enough to draw the attention of investors led by Indicator Ventures with participation from 2048 Ventures, Ludlow Ventures, Matchstick Ventures, Detroit Venture Partners and Invest Detroit.

For Healander, Airspace Link is only the latest entrepreneurial venture. He previously founded GeoMetri, an indoor GPS tracking company, which was acquired by Acuity Brands.

I’ve been a partner of ESRI my entire life,” says Healander. “I’ve been in the geospatial industry for four or five companies with them.”

The company has four main components of its service. There’s AirRegistry, where people cna opt-in or out of receiving drone deliveries; AirInspect, which is a service that handles city and state permitting for drone operators; AirNetm, which works with the FAA to create approved air routes for drones; and AirLink an API that connects drone operators with local governments and collects fees for registering drones.

 

 


0

Aki acquires Eyeview’s ad personalization tech

01:26 | 24 January

Video advertising company Eyeview shut down in December, but its technology will live on thanks to an acquisition by Aki Technologies.

Aki CEO Scott Swanson told me that he’s anticipating serious growth in the demand for ad personalization, particularly as consumers see personalization everywhere else online.

Swanson argued that Eyeview’s technology is particularly strong thanks to its focus on video, with “the ability to generate millions of permutations of a video creative and store them in the cloud.” It offers even more opportunities when combined with Aki’s existing technology, which delivers ads targeted for specific “mobile moments,” like whether the viewer is relaxing at home or out running errands.

Plus, the acquisition allows Aki to expand beyond mobile advertising to desktop and connected TV.

The financial terms of the deal were not disclosed, but Swanson said that in addition to acquiring the technology, he’s also working to bring on old Eyeview clients and to hire Eyeview team members (he estimated that he’s hired nearly 15 so far and is aiming for around 20). At the same time, he acknowledged that there are challenges in resurrecting a business that had been shut down.

“The technology itself was decommissioned, it was taken down, it was backed up in the cloud,” Swanson said. “As the acquisition proceeds, we’ll literally be taking the code base and relaunching it in the cloud … Hiring the people was super important, and then because it’s not a traditional acquisition where we get customers and stuff, we have to go call up all the customers one-by-one, just as we have to hire people one-by-one.”

Eyeview had raised nearly $80 million in funding before running out of cash and laying off a team of around 100 employees. (Aki, meanwhile, has raised only a seed round of $3.75 million back in 2016; Swanson said the company has grown organically since then.) The news came only a few months after digital media veteran Rob Deichert took over as CEO.

“While it was disappointing to have to shut down the Eyeview business, I’m very happy that the technology assets have found a home with Aki,” Deichert told me via email. “Their business is a logical fit for the technology.”

And despite Eyeview’s misfortunes, Swanson said he’s confident that the company still works as a standalone business: “Look, these guys have been running a business that was full of really happy customers who were seeing good results and seem to have been disappointed when they shut down.”

The bigger issue, he suggested, is the adtech industry as a whole, with advertisers feeling fatigued “with having too many options,” along with a lack of “appetite on the large exit side.”

“The broader trend here is for companies that operate profitably and can support themselves effectively to become a little bit more tech-enabled managed services business,” Swanson said.

 


0

Goldman says it won’t take companies public without at least one “diverse” director; here’s what it should have said

01:17 | 24 January

Some of the biggest banks in the United States are among the powerful institutions in the world. But like every incumbent, they still have to hustle to stay relevant. Morgan Stanley has increasingly gotten behind investors who say they want to see more direct listings, for example. Some of those investors wield a lot of influence after all, and if you can’t beat them (and you want to stay ahead of the competition), you’d better join them.

Now Goldman Sachs has made an announcement of its own that’s very much a part of the times: its CEO, David Solomon, today told CNBC that beginning this year, Goldman will no longer take companies public if they don’t have at least one “diverse” member on its board of directors. “Starting on July 1st in the U.S. and Europe, we’re not going to take a company public unless there’s at least one diverse board candidate, with a focus on women,” Solomon said specifically on the network’s “Squawk Box.”

Some will, perhaps rightly, see the announcement as little more than marketing. After all, it’s already widely viewed as unacceptable for a company to go public without at least one female board member and preferably far more “diversity” than that. WeWork, for example, tried to go public last year with an all-male board, only to realize soon after that if it wanted to pursue an initial public offering, it had better mix it up a bit. (Of course, by the time it amended its S-1 to name Harvard professor Frances Frei as its first female board member, its offering was already starting to crumble.)

Adding one’s first female board member ahead of an IPO is such a cliche at this point that the more interesting question is how close to the filing a related announcement will be made.

Airbnb, founded in 2008, brought aboard its first female board member in 2018, so let’s call it two years ahead of its presumed 2020 IPO. A decade is a long time to go without any diversity on a board, but it’s also not atypical. Slack’s first female board member, Sarah Friar, joined the company in March 2017, roughly two years before the company — eight years old at the time — staged its direct listing last year. Similarly, Peloton, the fitness company, now eight years old, brought aboard its first female board director, Pamela Thomas-Graham, in the spring of 2018; in September of last year, it went public.

Important to note at all three companies is what’s gone on at the employee level. Slack, for years, has made diversity core to its operations. Airbnb has also made gains in terms of employing a more diverse workforce.  Peloton, which was roundly heckled for a recent “sexist,” “dystopian” advertisement, has a highly diverse management team.

Indeed, though we’re not criticizing Solomon — when it comes to diversity, every little bit helps — if Goldman Sachs really wants to maintain its place in the banking hierarchy, a much bolder stance would to only take public companies that have diverse workforces, which is far more important — and impactful — than adding a woman and/or person of color to a board of directors.

Let’s face it; directors of public companies typically meet just four times a year to review quarterly results, so beyond ensuring that strategic objectives are being met and hopefully making introductions to the company, these roles are given more attention than they should be by the media. (They often pay ludicrous amounts, too.)

Even a stance saying that Goldman is only going to take public companies that give back — say 1% of future profits to the NAACP, as one idea — would put it in pole position for those founders and investors who truly want to be progressive.

As it is, institutionalizing a process that’s already happening and doesn’t have enough nearly enough real-world impact is maybe better, just barely, than not institutionalizing that thing. According to Solomon, about 60 companies in the U.S. and Europe have gone public recently with all white, male boards.

When we reached out to others of the big banks today to see if they might make a public commitment of their own regarding pre-IPO companies — we wrote to Morgan Stanley, Bank of America, and JPMorgan — each of them, which have said in various ways that they are committed to diversity, declined to comment.

 


0

US regulators need to catch up with Europe on fintech innovation 

01:12 | 24 January

Alastair Mitchell Contributor
Alastair Mitchell is a partner at multi-stage VC fund EQT Ventures and the fund's B2B sales, marketing and SaaS expert. Ali also focuses on helping US companies scale into Europe and vice versa.
More posts by this contributor

Fintech companies are fundamentally changing how the financial services ecosystem operates, giving consumers powerful tools to help with savings, budgeting, investing, insurance, electronic payments and many other offerings. This industry is growing rapidly, filling gaps where traditional banks and financial institutions have failed to meet customer needs.

Yet progress has been uneven. Notably, consumer fintech adoption in the United States lags well behind much of Europe, where forward-thinking regulation has sparked an outpouring of innovation in digital banking services — as well as the backend infrastructure onto which products are built and operated.

That might seem counterintuitive, as regulation is often blamed for stifling innovation. Instead, European regulators have focused on reducing barriers to fintech growth rather than protecting the status quo. For example, the U.K.’s Open Banking regulation requires the country’s nine big high-street banks to share customer data with authorized fintech providers.

The EU’s PSD2 (Payment Services Directive 2) obliges banks to create application programming interfaces (APIs) and related tools that let customers share data with third parties. This creates standards that level the playing field and nurture fintech innovation. And the U.K.’s Financial Conduct Authority supports new fintech entrants by running a “sandbox” for software testing that helps speed new products into service.

Regulations, if implemented effectively as demonstrated by those in Europe, will lead to a net positive to consumers. While it is inevitable that regulations will come, if fintech entrepreneurs take the action to engage early and often with regulators, it will ensure that the regulations put in place support innovation and ultimately benefit the consumer.

 


0

Uber’s Shin-pei Tsay is coming to TC Sessions: Mobility

00:26 | 24 January

Government and policy experts are among the most important people in the future of transportation. Any company pursuing the shared scooters and bikes business, ride-hailing, on-demand shuttles and eventually autonomous vehicles has to have someone, or a team of people, who can work with cities.

Enter Shin-pein Tsay, the director of policy, cities and transportation at Uber . TechCrunch is excited to announce that Tsay will join us on stage at TC Sessions: Mobility, a one-day conference dedicated to the future of mobility and transportation.

If there’s one person who is at the center of this universe, it’s Tsay. In her current role at Uber, she leads a team of issues experts focused on what Uber calls a “sustainable multi-modal urban future.”

Tsay is also founder. Prior to Uber, she founded a social impact analysis company called Make Public. She was also the deputy executive director of TransitCenter, a national foundation focused on improving urban transportation. She also founded and directed the cities and transportation program under the Energy and Climate Program at the Carnegie Endowment for International Peace.

For the past four years, Shinpei has served as a commissioner for the City of New York Public Design Commission. She is on the board of the national non-profit In Our Backyard.

Stay tuned, we’ll have more speaker announcements in the coming weeks. In case you missed it, TechCrunch has already announced Ike co-founder and chief engineer Nancy Sun, Waymo’s head of trucking Boris Sofman and Trucks VC’s Reilly Brennan will be participating in TC Sessions: Mobility.

Don’t forget that $250 Early-Bird tickets are now on sale — save $100 on tickets before prices go up on April 9; book today.

Students, you can grab your tickets for just $50 here.

 


0

Firefly Aerospace investigating a fire that resulted from a test of its Alpha rocket’s engines

00:25 | 24 January

Space launch startup Firefly Aerospace encountered a setback as it kicked off the first “hot” tests of its Alpha launch vehicle’s engines – a fire resulted from its first test engine fire. The fire occurred at 6:23 PM local time on Wednesday during the first planned 5-second fire in a series of test firings Firefly intended to run for Alpha at its Briggs, Texas facility. The fire was located “in the engine bay at the base of the rocket’s stage,” Firefly has said in a new statement about the incident.

Firefly’s engineers immediately stopped the engine test, and the facility’s fire suppression system put out the fire, the company says. The team is currently reviewing data around the test to identify the cause, and will perform a complete investigation to figure out what’s going on and then report those results, according to the statement. Firefly also says that “at no time during the test were Firefly operations personnel or the public in danger” and adds that it’s working with local emergency response and governing authorities throughout the investigation.

The launch startup has encountered setbacks before, though its biggest previous hurdle was of a different nature: Firefly Space Systems filed for bankruptcy protection in 2017, before returning with a slightly different corporate identity as Firefly Aerospace later that year, still under the leadership of founder and current CEO Tom Markusic. Firefly was rescued at least in part thanks to a lifeline investment from Noosphere Ventures, and said at the time it had enough runway to fund it fully through development and flight of Alpha, an expendable launch vehicle that will be able to delivery as much as a metric ton to low-Earth orbit.

This fire is a setback, but it does appear that it was at least quickly contained and didn’t result in any kind of explosion or total destruction of the test launch vehicle. It’s too soon to say what this will mean for Firefly’s timelines, which at the end of last year, anticipated a first launch of Alpha sometime between this February and March.

Anomalies are part of the process of developing new launch systems and spacecraft, so this isn’t necessarily a major blow for Firefly – depending, of course, on what the investigation reveals regarding the ultimate cause.

Firefly’s statement on the incident is included in full below.

Firefly Aerospace maintains a 200-acre manufacturing and test facility in Briggs, Texas, 27 miles north of its headquarters.

On January 22, 2020, test engineers were conducting a planned test of the first stage of the company’s “Alpha” launch vehicle. The test was to be the first in a series of propulsion tests to verify design and operation of the stage, and involved a short, 5-second firing of the stage’s four engines.

At 6:23 pm local time, the stage’s engines were fired, and a fire broke out in the engine bay at the base of the rocket’s stage. The 5-second test was immediately aborted and the test facility’s fire suppression system extinguished the fire. The cause of the anomaly is under investigation. Firefly engineers are reviewing test data from the stage to identify potential causes for the test failure, and Firefly will share results of that investigation once it is complete.

Firefly is committed to workplace safety, and at no time during the test were Firefly operations personnel or the public in danger. Firefly is coordinating closely with local authorities and emergency response personnel as it investigates the anomaly and refines its contingency procedures.

 


0
<< Back Forward >>
Topics from 1 to 10 | in all: 51000

Site search


Last comments

Walmart retreats from its UK Asda business to hone its focus on competing with Amazon
Peter Short
Good luck
Peter Short

Evolve Foundation launches a $100 million fund to find startups working to relieve human suffering
Peter Short
Money will give hope
Peter Short

Boeing will build DARPA’s XS-1 experimental spaceplane
Peter Short
Great
Peter Short

Is a “robot tax” really an “innovation penalty”?
Peter Short
It need to be taxed also any organic substance ie food than is used as a calorie transfer needs tax…
Peter Short

Twitter Is Testing A Dedicated GIF Button On Mobile
Peter Short
Sounds great Facebook got a button a few years ago
Then it disappeared Twitter needs a bottom maybe…
Peter Short

Apple’s Next iPhone Rumored To Debut On September 9th
Peter Short
Looks like a nice cycle of a round year;)
Peter Short

AncestryDNA And Google’s Calico Team Up To Study Genetic Longevity
Peter Short
I'm still fascinated by DNA though I favour pure chemistry what could be
Offered is for future gen…
Peter Short

U.K. Push For Better Broadband For Startups
Verg Matthews
There has to an email option icon to send to the clowns in MTNL ... the govt of India's service pro…
Verg Matthews

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short