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Here’s the very last trailer for Star Wars: The Rise of Skywalker

04:49 | 22 October

And there we have it: the very last trailer for a Star Wars movie focusing on the Skywalkers*.

After 42 long years of Jedi returning, clones attacking, and Force awakenings… the three pack of trilogies that is the “Skywalker saga” comes to an end this December with the release of Episode IX: The Rise of Skywalker.

As with the last few Star Wars movies, Rise of Skywalker’s final trailer dropped right in the middle of Monday Night Football. This comes roughly six months after the first teaser landed back in April.

Rise of Skywalker is set to open on December 20th according to the billboards… which means it’s actually opening the evening of December 19th in much of the US due to midnight screenings and timezone rules. If your goal is to see it as early as possible to avoid spoilers and whatnot, double check when your theater’s first screening actually is.

(* until the inevitable point down the road when another Skywalker trilogy is announced… because, well, people like the Skywalkers.)

 


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Report: SoftBank is taking control of WeWork at an ~$8B valuation

23:00 | 21 October

WeWork, once valued at $47 billion, will be worth as little as $7.5 billion on paper as SoftBank takes control of the struggling co-working business, CNBC reports.

SoftBank, a long-time WeWork investor, plans to invest between $4 billion and $5 billion in exchange for new and existing shares, according to CNBC . The deal, expected to be announced as soon as tomorrow, represents a lifeline for WeWork, which is said to be mere weeks from running out of cash and has been shopping several of its assets as it attempts to lessen its cash burn.

WeWork declined to comment.

To be clear, it is reportedly the Vision Fund’s parent company, SoftBank Group Corp. that is taking control, with SoftBank International chief executive officer Marcelo Claure stepping into to support company management, per reports.

The Japanese telecom giant’s move comes precisely four weeks after co-founder and former CEO Adam Neumann relinquished control of the company and transitioned into a non-executive chairman role, and about three weeks after WeWork decided to delay its highly-anticipated initial public offering. WeWork’s vice chairman Sebastian Gunningham and the company’s president and chief operating officer Artie Minson are currently serving as WeWork’s co-CEOs.

In the days and weeks that followed, reports surfaced that WeWork was planning to slash thousands of jobs.

Now expected to go public in 2020 at a valuation, WeWork was also said to be in negotiations with JPMorgan for a last-minute cash infusion. The company, now a cautionary tale, will surely continue to reduce the sky-high costs of its money-losing operation in the upcoming months.

WeWork revealed an unusual IPO prospectus in August after raising more than $8 billion in equity and debt funding. Despite financials that showed losses of nearly $1 billion in the six months ending June 30, the company still managed to accumulate a valuation as high as $47 billion, largely as a result of Neumann’s fundraising abilities.

“As co-founder of WeWork, I am so proud of this team and the incredible company that we have built over the last decade,” Neumann said in a statement confirming his resignation last month. “Our global platform now spans 111 cities in 29 countries, serving more than 527,000 members each day. While our business has never been stronger, in recent weeks, the scrutiny directed toward me has become a significant distraction, and I have decided that it is in the best interest of the company to step down as chief executive. Thank you to my colleagues, our members, our landlord partners, and our investors for continuing to believe in this great business.”

 


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NASA’s Jim Bridenstine says 2035 is doable for human landing on Mars – provided budget is there

22:33 | 21 October

NASA Administrator Jim Bridenstine took part in a joint presentation by the chiefs of a number of International space agencies at the annual International Astronautical Conference on Monday. At the end of the event, A question was put to the entire group – when do we get to Mars?

After a joke answer of “Tuesday” by ESA Director General Jan Wörner, Bridenstine followed with a serious answer that he believes – provided everyone can get their governments to actually back them and provided the support needed – it’s possible that astronauts could land on Mars by as early as 2035.

“If we accelerate the Moon landing, we’re accelerating the Mars landing – that’s what we’re doing,” Bridenstine said, referring to the agency’s aggressive, accelerated timeline of aiming to land the first American woman and next American man on the Moon by 2024 with the Artemis program.

“If our budgets were sufficient,” Bridenstine said, turning to his colleagues from NASA’s International equivalents, “I would suggest that we could do it by 2035.”

“The goal is to land on the Moon within 5 years and be sustainable by 2028,” Bridenstine said during a press conference following the agency leadership panel, clarifying that sustainability means “people living and working on another world for long periods of time.”

The caveat Bridenstine offered, that budgets match ambition, is not an insignificant one. NASA just faced a congressional subcommittee budgetary hearing about its plan to get to the Moon by 2024, and faced some heavy skepticism. From NASA’s scientific and technical assessment of Mars mission feasibility for a 2035 target, however, the agency previously discussed this date as early as 2015.

 


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Is there room for a U.S. equivalent to China’s #1 news app?

21:57 | 21 October

In China, Toutiao is literally big news.

Not only has its parent company ByteDance achieved a $75 billion valuation, two of its apps — Toutiao, a news aggregator, and Douyin (Tik Tok in China) — are chipping into WeChat’s user engagement numbers, no small feat considering the central role WeChat plays in the daily lives of the region’s smartphone users.

The success of Toutiao (its name means “headline”) prompts the question: why hasn’t one news aggregator app achieved similar success in the United States? There, users can pick from a roster of news apps, including Google News, Apple News (on iOS), Flipboard, Nuzzel and SmartNews, but no app is truly analogous to Toutiao, at least in terms of reach. Many readers still get news from Google Search (not the company’s news app) and when they do use an app for news, it’s Facebook.

The top social media platform continues to be a major source of news for many Americans, even as they express reservations about the reliability of the content they find there. According to research from Columbia Journalism Review, 43% of Americans use Facebook and other social media platforms to get news, but 57% said they “expect the news they see on those platforms to be largely inaccurate.” Regardless, they stick with Facebook because it’s timely, convenient and they can share content with friends and read other’s comments.

The social media platform is one of the main reasons why no single news aggregator app has won over American users the same way Toutiao has in China, but it’s not the only one. Other factors, including differences between how the Internet developed in each country, also play a role, says Ruiwan Xu, the founder and CEO of CareerTu, an online education platform that focuses on data analytics, digital marketing and research.

While Americans first encountered the Internet on PCs and then shifted to mobile devices, many people in China first went online through their smartphones and the majority of the country’s 800 million Internet users access it through mobile. This makes them much more open to consuming content — including news and streaming video — on mobile.

 


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New Facebook features fight election lies everywhere but ads

21:36 | 21 October

Heaven forbid a political candidate’s Facebook account gets hacked. They might spread disinformation…like they’re already allowed to do in Facebook ads…

Today Facebook made a slew of announcements designed to stop 2020 election interference. “The bottom line here is that elections have changed significantly since 2016″ and so has Facebook in response, CEO Mark Zuckerberg said on a call with reporters. “We’ve gone from being on our back foot to proactively going after some of the biggest threats out there”

Facebook Protect

One new feature is called Facebook Protect. By hijacking accounts of political candidates or their campaign staff, bad actors can steal sensitive information, expose secrets, and spread disinformation. So to safeguard these vulnerable users, Facebook is launching a new program with extra security they can opt into.

Facebook Protect entails requiring two-factor authentication, and having Facebook monitor for hacking attempts like suspicious logins. Facebook can then inform the rest of an organization and investigate if it sees one member under attack.

Today’s other announcements include:

  • The takedown of foreign influence campaigns, three from Iran and one from Russia in order to protect users from deception.
  • Labelling state-owned or controlled media organizations like Russia Today on their Facebook Pages and the the Ad Library to help users identify potential propaganda.
  • Added Page ownership transparency for ePages with large US audiences and those verified to run political ads which will have to display their owner’s organization’s legal name, city, and phone number or website so it’s clear where information comes from.
  • New transparency features around political ad spend including a US presidential candidate spend tracker, more geographic spending details, info on what apps an ad appear on, and programmatic access to downloads of political ad creative.
  • Much more prominent fact-checking labels will now run as interstitials warnings atop photos and videos on Facebook and Instagram that were fact-checked as false, rather than smaller labels attached below the post to make sure users know information is false before consuming it. Users will also be warned before they share posts fact-checked as false to keep them from going viral.

04 misinfo 02

  • A wider ban on voter suppression ads that suggest it’s useless to vote, provide inaccurate polling or voter eligibility information, or threaten people if they vote or based on the outcome of an election to prevent intimidation and confusion.
  • A $2 million investment from Facebook into media literacy projects to develop new methods of educating people to understand political social media and ads.
  • Facebook Protect offering hack monitoring services to elected officials, candidates political party committees, government agencies and departments surrounding elections, and verified users involved in elections.

Facebook Page Transparency Spend Tracker

Combined, the efforts could protect both campaigns and constituents from misinformation while giving everyone more clarity about where content comes from. Yet the approach highlights Facebook’s tightrope walk between policing its networks and overstepping into censorship.

In a speech last week, Zuckerberg tried to firmly plant Facebook as erring on the side of giving people a voice rather than stifling speech. He raised the threat of China’s influence over foreign businesses by dangling its giant market in exchange for adherence to its political values. And he tried to defend allowing lies in political ads, arguing that banning political ads on Facebook as I’ve recommended the company do would benefit incumbents and silence challengers who don’t have media attention.

Trump Ad 1

A Trump ad spreads misinformation claiming Democrats want to repeal the second amendment

Yet throughout the call, Zuckerberg was hammered with questions about Facebook’s willingness to fact check what users share with friends, but not what politicians pay to show to millions of voters.

People should make up their own minds about what candidates are credible. I don’t think those determinations should come from tech companies . . . People need to be able to see this content for themselves” Zuckerberg insisted. Yet if Facebook is willing to cover photos containing misinformation with a warning label you have to click to see past, it’s strange that it’s unwilling to do the same for political ads.

Like farming out fact-checking to third-party news outlets as Facebook already does, banning political ads wouldn’t force Facebook to judge the truth of individual statements, and they’d still have the right to share what they want to their own followers.

When I asked why he believes banning political ads would favor incumbents, Zuckerberg admitted “You’re right that incumbents can raise more money” and he wasn’t sure there’d been a comprehensive study on the matter. His defense relied on anecdotal beliefs of unnamed sources:

I’ve talked to a lot of people. The general belief that they have, when they’re a challenger, is that they rely on different mechanisms like ads in order to get their voices into a debate more than incumbents do . . . 

From all of the conversations that I’ve had, the general overwhelming consensus from people who are participating in these things and who work on them has been that removing political ads would favor incumbents.”

While the rest of Facebook’s announcements today felt like sensible steps in the right direction, the company will need a stronger arguments for why it polices misinformation shared by users but not political ad campaigns.

If it wants to find a better middleground, it could offer standardized ad units for political campaigns that endorse the candidate and ask for donations, but can’t make potentially untruthful assertions about themselves or their competitors.

 


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Sydney’s AirTree Ventures closes $275M fund as Aussie unicorns gather pace

19:35 | 21 October

The Australian scene industry has, in the last few years, started to generate a swathe of startups that have broken through internationally. Prior to this current era, Australia was scene has very much a local market in tech terms, with only occasional breakouts, like Atlassian . In fact, it’s now gaining a reputation as a serial producer of high-quality tech platforms, the hottest of which right now is Canva, which recently raised an additional $85 million to bring its valuation to $3.2 billion, up from $2.5 billion in May. Investors in the company include Bond, General Catalyst, Bessemer Venture Partners, Blackbird and Sequoia China. Notably, Sydney-based AirTree Ventures also invested early.

So that momentum is further confirmed by the news that Airtree has closed its 3rd fund of $275m. This new fund comes after AirTree’s $250m fund in 2016 and a $60m fund in 2014. You can clearly see the buildup in these numbers.

John Henderson, Partner said: “The interest from investors in our fund is a stunning reflection on the performance of the entrepreneurs we’ve been lucky enough to back. We were humbled by overwhelming demand, but felt it was the right thing for our investors to maintain discipline and a consistent fund size across vintages.”

Australian venture capital was less than fashionable after the dotcom boom and bust, and local institutional capital in Australia and New Zealand all but disappeared, hence why we saw so few startups form the region.

AirTree’s $60m fund in 2014, broke that drought and Australia now boasts over 50 tech startups valued at $100 million, 14 over $500 million and produces one ‘unicorn’ per year on average.

Airtree has gone on to invest in Australian and Kiwi startups like Canva, Prospa, Secure Code Warrior, Athena, Flurosat, Brighte, Joyous, Thematic and A Cloud Guru. Prospa, Australia’s main online lender to small businesses, IPO’ed on the Australian Stock Exchange in June 2019.

Airtree can invest as little as $200k, but now has the firepower to own the pipeline all the way up the investment stack.

Craig Blair, Managing Partner commented: “As ex-founders, we have experienced the tough, lonely road ourselves. This empathy with the founder journey helps us focus on when to provide support and when to get out of the way. In our next fund, we’ll be expanding our suite of services and our network of connections, all designed to give our founders an unfair advantage.”

The VC also announced two promotions and a new executive hire:

• Elicia McDonald promoted to Principal, with a mandate to lead new investments
• Emily Close joining the investment team, promoted to Associate
• Melissa Ran leading AirTree’s Community and Advocacy efforts

AirTree’s latest fund is backed by six institutional investors from Australia including AustralianSuper, SunSuper and Statewide. The rest of the new fund comes from a range of successful entrepreneurs and family offices.

Henderson added: “An important portion of our portfolio is already in New Zealand and we remain very focused on supporting that market. We’ve been investing meaningful resources and funds in New Zealand since 2014 and we’ll have more Kiwi news to share soon.”

The fund raise follows news that AirTree portfolio company Property-tech start-up :Different has raised a second round of capital from AirTree, alongside Brisbane-based real estate fund PieLAB, as it expands into Queensland.

 


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Nielsen says it can now measure Amazon Prime Video

19:16 | 21 October

Nielsen announced this morning it will now be able to measure the viewing taking place on Amazon Prime Video, through its Subscription Video on Demand Content Ratings solution. This product, first launched two years ago, was originally focused on measuring Netflix’s viewing numbers with promises to add support for measuring Prime Video in 2018.

Though delayed by a year, that Prime Video measurement is now available.

Through Nielsen’s service, clients will have access to the measurement data for their own content, as well as the total content lifecycle for competitive media — whether it’s live, content-shifted viewing, steamed or available through video-on-demand, Nielsen says.

As with Netflix, however, Nielsen is able to measure only the Amazon Prime Video streams taking place in the U.S. via TVs. This includes through connected and smart devices — like streaming media players, for example.

That limitation has been a point of criticism from Netflix, which routinely dismisses Nielsen’s accuracy because it misses streams coming from mobile devices and PCs. But insiders now say Nielsen’s numbers are fairly close, according to a Variety report from earlier this year, which detailed how Nielsen’s numbers backed up Netflix’s claims about its hit movie “Bird Box.”

Plus, those missing mobile and PCs streams may not be as important in terms of U.S. viewership as you may think. Although many U.S. consumers are cutting the cord with traditional linear TV, they still often watch their streamed shows on the TV’s big screen. Hulu, for example, said last year that as much as 78% of its viewing takes place on a TV, to give you an idea.

For networks and studios, Nielsen’s SVOD measurement numbers help provide insight into what otherwise can be a bit of a black box. Although Netflix argued during its Q3 earnings last week that it does now share some viewing data with producers, it can be hard for studios and networks to put those numbers in context.

“Nielsen’s measurement in the SVOD space is invaluable for our studio to understand how our programs perform on these platforms and the audiences they attract,” said James Petretti, SVP, U.S. Research and Analytics at Sony Pictures Television, in a statement. “It becomes even more exciting for us, because Nielsen has the ability to help us understand what these audiences are doing outside of those platforms as well— how and what they are watching on other on-demand and linear services,” he continued.

“We are also able to understand the impact of traditional linear advertising driving viewers to these SVOD programs so what Nielsen is providing is extraordinarily compelling,” said Petretti.

To kick off its news of new capabilities, Nielsen also offered a few examples of what sort of data its Prime Video measurements can deliver.

The company says the Amazon Prime Video show “The Boys” averaged 4.1 million viewers per episode, with its premier averaging a little over 6 million. The largest share (39%) of viewers aged 35 to 49, it also said. And within the first 10 days, the show had reached nearly 8 million viewers across its 8-episode season.

“This is a significant milestone for Nielsen, especially considering the upcoming high-profile streaming service launches,” said  Brian Fuhrer, SVP Product Leadership, Nielsen, in a statement. “We think the addition of Amazon Prime Video will allow rights owners an added ability to understand both the size, as well as the composition, of their streaming audiences relative to other platforms or programs. Beyond that, making this enhancement re-affirms our commitment to continuous improvement and to being the one media truth of an increasingly-fragmented video landscape,” he added.

We’ve reached out to Amazon for comment and will update if one is provided.

 

 


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Digital ad spend reached $57.9B in the first half of 2019, but growth has slowed (IAB report)

18:09 | 21 October

During the first six months of 2019, advertisers spent $57.9 billion on U.S. digital advertising, according to the latest report prepared by PwC for the Interactive Advertising Bureau (an online advertising trade group).

That’s a 17% increase compared to the same period in 2018, and the most spending IAB has ever seen in the first half of the year.

However, PwC’s David Silverman noted that it’s actually “a touch lower” compared to the second six months of last year, marking the first time we haven’t seen continual growth since 2009.

Silverman suggested that one factor contributing to this is slowing growth in mobile and social advertising. To be clear, both sectors are up year-over-year: Mobile ads grew 29% to $30.9 billion, while social media spending increased 26% to $16.5 billion.

But he said, “Those sectors of the industry are likely maturing” — so we’re not seeing the growth levels that we have in recent years.

IAB report

Meanwhile, the IAB’s senior vice president of research and analytics Sue Hogan noted that the dropoff between the end of 2018 and beginning of 2019 amounts to “a rounding error” (in fact, the report puts spending during both periods at $57.9 billion).

Overall, she argued that every category remains “healthy,” and that the big story is the growth in video advertising, which was up 36% to $9.5 billion.

The report also includes numbers around revenue concentration, specifically the amount of ad spend going to the top 10 digital ad companies. It doesn’t name specific companies (Google and Facebook are widely seen as the two giants dominating this space), but it says that revenue concentration in the top 10 has fluctuated between 69% and 77% over the past decade.

During the second quarter of 2019, revenue concentration remained at the top end of that range, specifically 76%. Meanwhile, companies 11 through 25 only accounted for 7%.

 


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Netflix to raise $2 billion in debt to fund more content spending

17:34 | 21 October

For the second time this year, Netflix is offering $2 billion in debt to fund its investment in content, including original programming, content acquisitions, investments, and more. The news was announced on Monday morning, and was followed by a slight dip in Netflix’s stock price.

The decision to increase its investment in content production follows Netflix’s well-received earnings beat last week, when it reported revenues of $5.24 billion versus the $5.25 billion expected, and EPS of $1.47 versus the $1.07 expected. Despite missing on subscriber numbers in Q3, Netflix’s stock quickly surged on the news.

However, the streaming service is not out of the woods just yet. It will soon face significant competition — especially among families with children — when Disney+ launches next month. Apple is also poised to launch Apple TV+, NBCU is bringing us Peacock, AT&T’s TimeWarner is debuting HBO Max, and Jeffrey Katzenberg is launching a mobile-only service called Quibi with big-name talent attached.

On their own, each of the new services wouldn’t be likely to unseat Netflix as a top streamer. But combined, they can chip away at Netflix’s user base if consumers decide to ditch and switch, instead of adding on yet another subscription.

On Netflix’s Q3 earnings call, Netflix CEO Reed Hastings even admitted that Disney is going to be “a great competitor.” However, he pointed out that all of the services — including Hulu, YouTube and Amazon Prime –have been competing more with linear TV than with each other.

That said, Netflix still needs to up its content game to keep customers subscribed. And that can be expensive.

“We don’t shy away from taking bold swings if we think the business impact will also be amazing. We don’t close every deal we chase and we don’t chase every deal on the table,” said Hastings, in Netflix’s Q3 letter to shareholders. He added that while not all Netflix’s projects work out, the large and growing subscriber base lets its experiment. And the size of its content budget — $10 billion on P&L spend and $15 billion in cash content spend — helps Netflix from getting too dependent on any single hit show.

The company also said its growing revenue base and expanding margins would allow it to fund more content spending internally, with cash flow freeing up further in 2020 and beyond.

In the meantime, however, Netflix is taking on debt.

In today’s announcement, Netflix says it intends to use the net proceeds from this offering “for general corporate purposes, which may include content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.”

 


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Veteran enterprise exec Bob Stutz is heading back to SAP

17:07 | 21 October

Bob Stutz has had a storied career with enterprise software companies including stints at Siebel Systems, SAP, Microsoft and Salesforce. He announced on Facebook last week that he’s leaving his job as head of the Salesforce Marketing Cloud and heading back to SAP as president of customer experience.

Bob Stutz Facebook announcement

Bob Stutz Facebook announcement

Constellation Research founder and principal analyst Ray Wang says that Stutz has a reputation for taking companies to the next level. He helped put Microsoft CRM on the map (although it still had just 2.7% marketshare in 2018, according to Gartner) and he helped move the needle at Salesforce Marketing Cloud.

Bob Stutz

Bob Stutz, SAP’s new president of customer experience. Photo: Salesforce

“Stutz was the reason Salesforce could grow in the Marketing Cloud and analytics areas. He fixed a lot of the fundamental architectural and development issues at Salesforce, and he did most of the big work in the first 12 months. He got the acquisitions going, as well,” Wang told TechCrunch. He added, “SAP has a big portfolio from CallidusCloud to Hybris to Qualtrics to put together. Bob is the guy you bring in to take a team to the next level.”

Brent Leary, who is a long-time CRM industry watcher, says the move makes a lot of sense for SAP. “Having Bob return to head up their Customer Experience business is a huge win for SAP. He’s been everywhere, and everywhere he’s been was better for it. And going back to SAP at this particular time may be his biggest challenge, but he’s the right person for this particular challenge,” Leary said.

Screenshot 2019 10 21 09.15.45

The move comes against the backdrop of lots of changes going on at the German software giant. Just last week, long-time CEO Bill McDermott announced he was stepping down, and that Jennifer Morgan and Christian Klein would be replacing him as co-CEOs. Earlier this year, the company saw a line of other long-time executives and board members head out the door including including SAP SuccessFactors COO Brigette McInnis-Day, Robert Enslin, president of its cloud business and a board member, CTO Björn Goerke and Bernd Leukert, a member of the executive board.

Having Stutz on board could help stabilize the situation somewhat, as he brings more than 25 years of solid software company experience to bear on the company.

 


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