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Saturday, November 2, 2019

Twitter’s political ads ban is a distraction from the real problem with platforms

Sometimes it feels as if Internet platforms are turning everything upside down, from politics to publishing, culture to commerce, and of course swapping truth for lies.

This week’s bizarro reversal was the vista of Twitter CEO Jack Dorsey, a tech CEO famed for being entirely behind the moral curve of understanding what his product is platforming (i.e. nazis), providing an impromptu ‘tweet storm’ in political speech ethics.

Actually he was schooling Facebook’s Mark Zuckerberg — another techbro renowned for his special disconnect with the real world, despite running a massive free propaganda empire with vast power to influence other people’s lives — in taking a stand for the good of democracy and society.

So not exactly a full reverse then.

In short, Twitter has said it will no longer accept political ads, period.

Whereas Facebook recently announced it will no longer fact-check political ads. Aka: Lies are fine, so long as you’re paying Facebook to spread them.

You could argue there’s a certain surface clarity to Facebook’s position — i.e. it sums to ‘when it comes to politics we just won’t have any ethics’. Presumably with the hoped for sequitur being ‘so you can’t accuse us of bias’.

Though that’s actually a non sequitur; by not applying any ethical standards around political campaigns Facebook is providing succour to those with the least ethics and the basest standards. So its position does actually favor the ‘truth-lite’, to put it politely. (You can decide which political side that might advantage.)

Twitter’s position also has surface clarity: A total ban! Political and issue ads both into the delete bin. But as my colleague Devin Coldewey quickly pointed out it’s likely to get rather more fuzzy around the edges as the company comes to defining exactly what is (and isn’t) a ‘political ad’ — and what its few “exceptions” might be.

Indeed, Twitter’s definitions are already raising eyebrows. For example it has apparently decided climate change is a ‘political issue’ — and will therefore be banning ads about science. While, presumably, remaining open to taking money from big oil to promote their climate-polluting brands… So yeah, messy.

There will clearly be attempts to stress test and circumvent the lines Twitter is setting. The policy may sound simple but it involves all sorts of judgements that expose the company’s political calculations and leave it open to charges of bias and/or moral failure.

Still, setting rules is — or should be — the easy and adult thing to do when it comes to content standards; enforcement is the real sweating toil for these platforms.

Which is also, presumably, why Facebook has decided to experiment with not having any rules around political ads — in the (forlorn) hope of avoiding being forced into the role of political speech policeman.

If that’s the strategy it’s already looking spectacularly dumb and self-defeating. The company has just set itself up for an ongoing PR nightmare where it is indeed forced to police intentionally policy-provoking ads from its own back-foot — having put itself in the position of ‘wilfully corrupt cop’. Slow hand claps all round.

Albeit, it can at least console itself it’s monetizing its own ethics bypass.

Twitter’s opposing policy on political ads also isn’t immune from criticism, as we’ve noted.

Indeed, it’s already facing accusations that a total ban is biased against new candidates who start with a lower public profile. Even if the energy of that argument would be better spent advocating for wide-ranging reform of campaign financing, including hard limits on election spending. If you really want to reboot politics by levelling the playing field between candidates that’s how to do it.

Also essential: Regulations capable of enforcing controls on dark money to protect democracies from being bought and cooked from the inside via the invisible seeding of propaganda that misappropriates the reach and data of Internet platforms to pass off lies as populist truth, cloaking them in the shape-shifting blur of microtargeted hyperconnectivity.

Sketchy interests buying cheap influence from data-rich billionaires, free from accountability or democratic scrutiny, is our new warped ‘normal’. But it shouldn’t be.

There’s another issue being papered over here, too. Twitter banning political ads is really a distracting detail when you consider that it’s not a major platform for running political ads anyway.

During the 2018 US midterms the category generated less than $3M for the company.

And, secondly, anything posted organically as a tweet to Twitter can act as a political call to arms.

It’s these outrageous ‘organic’ tweets where the real political action is on Twitter’s platform. (Hi Trump.)

Including inauthentically ‘organic’ tweets which aren’t a person’s genuinely held opinion but a planted (and often paid for) fake. Call it ‘going native’ advertising; faux tweets intended to pass off lies as truth, inflated and amplified by bot armies (fake accounts) operating in plain sight (often gaming Twitter’s trending topics) as a parallel ‘unofficial’ advertising infrastructure whose mission is to generate attention-grabbing pantomimes of public opinion to try and sway the real thing.

In short: Propaganda.

Who needs to pay to run a political ad on Twitter when you can get a bot network to do the boosterism for you?

Let’s not forget Dorsey is also the tech CEO famed for not applying his platform’s rules of conduct to the tweets of certain high profile politicians. (Er, Trump again, basically.)

So by saying Twitter is banning political ads yet continuing to apply a double standard to world leaders’ tweets — most obviously by allowing the US president to bully, abuse and threaten at will in order to further his populist rightwing political agenda — the company is trying to have its cake and eat it.

More recently Twitter has evolved its policy slightly, saying it will apply some limits on the reach of rule-breaking world leader tweets. But it continues to run two sets of rules.

To Dorsey’s credit he does foreground this tension in his tweet storm — where he writes [emphasis ours]:

Internet political ads present entirely new challenges to civic discourse: machine learning-based optimization of messaging and micro-targeting, unchecked misleading information, and deep fakes. All at increasing velocity, sophistication, and overwhelming scale.

These challenges will affect ALL internet communication, not just political ads. Best to focus our efforts on the root problems, without the additional burden and complexity taking money brings. Trying to fix both means fixing neither well, and harms our credibility.

This is good stuff from Dorsey. Surprisingly good, given his and Twitter’s long years of free speech fundamentalism — when the company gained a reputation for being wilfully blind and deaf to the fact that for free expression to flourish online it needs a protective shield of civic limits. Otherwise ‘freedom to amplify any awful thing’ becomes a speech chiller that disproportionately harms minorities.

Aka freedom of speech is not the same as freedom of reach, as Dorsey now notes.

Even with Twitter making some disappointing choices in how it defines political issues, for the purposes of this ad ban, the contrast with Facebook and Zuckerberg — still twisting and spinning in the same hot air; trying to justify incoherent platform policies that sell out democracy for a binary ideology which his own company can’t even stick to — looks stark.

The timing of Dorsey’s tweet-storm, during Facebook’s earnings call, was clearly intended to make that point.

“Zuckerberg wants us to believe that one must be for or against free speech with no nuance, complexity or cultural specificity, despite running a company that’s drowning in complexity,” writes cultural historian, Siva Vaidhyanathan, confronting Facebook’s moral vacuousness in a recent Guardian article responding to another Zuckerberg ‘manifesto’ on free speech. “He wants our discussions to be as abstract and idealistic as possible. He wants us not to look too closely at Facebook itself.”

Facebook’s position on speech does only stand up in the abstract. Just as its ad-targeting business can only run free of moral outrage in unregulated obscurity, where the baked in biases — algorithmic and user generated — are safely hidden from view so people can’t joins the dots on how they’re being damaged.

We shouldn’t be surprised at how quickly the scandal-prone company is now being called on its ideological BS. We have a savvier political class as a result of the platform-scale disinformation and global data scandals of the past few years. People who have have seen and experienced what Facebook’s policies translate to in real world practice. Like compromised elections and community violence.

With lawmakers like these turning their attention on platform giants there is a genuine possibility of meaningful regulation coming down the pipe for the antisocial media business.

Not least because Facebook’s self regulation has always been another piece of crisis PR, designed to preempt and steer off the real thing. It’s a cynical attempt to maintain its profitable grip on our attention. The company has never been committed to making the kind of systemic change necessary to fix its toxic speech issues.

The problem is, ultimately, toxicity and division drives engagement, captures attention and makes Facebook a lot of money.

Twitter can claim a little distance from that business model not only because it’s considerably less successful than Facebook at generating money by monopolizing attention, but also because it provides greater leeway for its users to build and follow their own interest networks, free from algorithmic interference (though it does do algorithms too).

It has also been on a self-proclaimed reform path for some time. Most recently saying it wants to be responsible for promoting “conversational health on its platform. No one would say it’s there yet but perhaps we’re finally getting to see some action. Even if banning political ads is mostly a quick PR win for Twitter.

The really hard work continues, though. Namely rooting out bot armies before their malicious propaganda can pollute the public sphere. Twitter hasn’t said it’s close to being able to fix that.

Facebook is also still failing to stem the tide of ‘organic’ politicized fake content on its platform. Fakes that profit at our democratic expense by spreading hate and lies.

For this type of content Facebook offers no searchable archive (as it now does for paid ads which it defines as political) — thereby providing ongoing cover for dark money to do its manipulative hack-job on democracy by free-posting via groups and pages.

Plus, even where Facebook claims to be transparently raising the curtain on paid political influence it’s abjectly failing to do so. Its political ads API is still being blasted by research academics as not fit for purpose. Even as the company policy cranks up pressure on external fact-checkers by giving politicians the green light to run ads that lie.

It has also been accused of applying a biased standard when it comes to weeding out “coordinated inauthentic behavior”, as Facebook euphemistically calls the networks of fake accounts set up to amplify and juice reach — when the propaganda in question is coming from within the US and leans toward the political right.

 

Facebook denies this, claiming for example that a network of pages on its platform reported to be exclusively boosting content from US conservative news site, The Daily Wire, are real pages run by real people in the U.S., and they don’t violate our policies. (It didn’t offer us any detail on how it reached that conclusion.) 

A company spokesperson also said: “We’re working on more transparency so that in the future people have more information about Pages like these on Facebook.”

So it’s still promising ‘more transparency’ — rather than actually being transparent. And it remains the sole judge interpreting and applying policies that aren’t at all legally binding; so sham regulation then. 

Moreover, while Facebook has at times issued bans on toxic content from certain domestic hate speech preachers’, such as banning some of InfoWars’ Alex Jones’ pages, it’s failed to stop the self-same hate respawning via new pages. Or indeed the same hateful individuals maintaining other accounts on different Facebook-owned social properties. Inconsistency of policy enforcement is Facebook’s DNA.

Set against all that Dorsey’s decision to take a stance against political ads looks positively statesmanlike.

It is also, at a fundamental level, obviously just the right thing to do. Buying a greater share of attention than you’ve earned politically is regressive because it favors those with the deepest pockets. Though of course Twitter’s stance won’t fix the rest of a broken system where money continues to pour in and pollute politics.

We also don’t know the fine-grained detail of how Twitter’s algorithms amplify political speech when it’s packaged in organic tweet form. So whether its algorithmic levers are more likely to be triggered into boosting political tweets that inflame and incite, or those that inform and seek to unite.

As I say, the whole of Twitter’s platform can sum to political advertising. And the company does apply algorithms to surface or suppress tweets based on its proprietary (and commercial) determination of ‘engagement quality’. So its entire business is involved in shaping how visible (or otherwise) tweeted speech is.

That very obviously includes plenty of political speech. Not for nothing is Twitter Trump’s platform of choice.

Nothing about its ban on political ads changes all that. So, as ever, where social media self-regulation is concerned, what we are being given is — at best — just fiddling around the edges.

A cynical eye might say Twitter’s ban is intended to distract attention from more structural problems baked into these attention-harvesting Internet platforms.

The toxic political discourse problem that democracies and societies around the world are being forced to grapple with is as a consequence of how Internet platforms distribute content and shape public discussion. So what’s really key is how these companies use our information to program what we each get to see.

The fact that we’re talking about Twitter’s political ad ban risks distracting from the “root problems” Dorsey referenced in passing. (Though he would probably offer a different definition of their cause. In the tweet storm he just talks about “working hard to stop people from gaming our systems to spread misleading info”.)

Facebook’s public diagnosis of the same problem is always extremely basic and blame-shifting. It just says some humans are bad, ergo some bad stuff will be platformed by Facebook — reflecting the issue back at humanity.

Here’s an alternative take: The core issue underpinning all these problems around how Internet platforms spread toxic propaganda is the underlying fact of taking people’s data in order to manipulate our attention.

This business of microtargeting — or behavioral advertising, as it’s also called — turns everyone into a target for some piece of propaganda or other.

It’s a practice that sucks regardless of whether it’s being done to you by Donald Trump or by Disney. Because it’s asymmetrical. It’s disproportionate. It’s exploitative. And it’s inherently anti-democratic.

It also incentivizes a pervasive, industrial-scale stockpiling of personal data that’s naturally hostile to privacy, terrible for security and gobbles huge amounts of energy and computing resource. So it sucks from an environmental perspective too.

And it does it all for the very basest of purposes. This is platforms selling you out so others can sell you stuff. Be it soap or political opinions.

Zuckerberg’s label of choice for this process — “relevant ads” — is just the slick lie told by a billionaire to grease the pipes that suck out the data required to sell our attention down the river.

Microtargeting is both awful for the individual (meaning creepy ads; loss of privacy; risk of bias and data misuse) and terrible for society for all the same reasons — as well as grave, society-level risks, such as election interference and the undermining of hard-won democratic institutions by hostile forces.

Individual privacy is a common good, akin to public health. Inoculation — against disease or indeed disinformation — helps protect the whole of us from damaging contagion.

To be clear, microtargeting is also not only something that happens when platforms are paid money to target ads. Platforms are doing this all the time; applying a weaponizing layer to customize everything they handle.

It’s how they distribute and program the masses of information users freely upload, creating maximally engaging order out of the daily human chaos they’ve tasked themselves with turning into a compelling and personalized narrative — without paying a massive army of human editors to do the job.

Facebook’s News Feed relies on the same data-driven principles as behavioral ads do to grab and hold attention. As does Twitter’s ‘Top Tweets’ algorithmically ranked view.

This is programmed attention-manipulation at vast scale, repackaged as a ‘social’ service. One which uses what the platforms learn by spying on Internet users as divisive glue to bind our individual attention, even if it means setting some of us against each another.

That’s why you can publish a Facebook post that mentions a particular political issue and — literally within seconds — attract a violently expressed opposing view from a Facebook ‘friend’ you haven’t spoken to in years. The platform can deliver that content ‘gut punch’ because it has a god-like view of everyone via the prism of their data. Data that powers its algorithms to plug content into “relevant” eyeballs, ranked by highest potential for engagement sparks to fly.

It goes without saying that if a real friendship group contained such a game-playing stalker — who had bugged everyone’s phones to snoop and keep tabs on them, and used what they learnt to play friends off against each other — no one would imagine it bringing the group closer together. Yet that’s how Facebook treats its captive eyeballs.

That awkward silence you could hear as certain hard-hitting questions struck Zuckerberg during his most recent turn in the House might just be the penny dropping.

It finally feels as if lawmakers are getting close to an understanding of the real “root problem” embedded in these content-for-data sociotechnical platforms.

Platforms that invite us to gaze into them in order that they can get intimate with us forever — using what they learn from spying to pry further and exploit faster.

So while banning political ads sounds nice it’s just a distraction. What we really need to shatter the black mirror platforms are holding against society, in which they get to view us from all angles while preventing us from seeing what they’re doing, is to bring down a comprehensive privacy screen. No targeting against personal data.

Let them show us content and ads, sure. They can target this stuff contextually based on a few generic pieces of information. They can even ask us to specify if we’d like to see ads about housing today or consumer packaged goods? We can negotiate the rules. Everything else — what we do on or off the platform, who we talk to, what we look at, where we go, what we say — must remain strictly off limits.



from Social – TechCrunch https://ift.tt/2K1P568 Twitter’s political ads ban is a distraction from the real problem with platforms Natasha Lomas https://ift.tt/33aywgy
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Startups Weekly: Understanding Uber’s latest fintech play

Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy startups and venture capital news. Before I jump into today’s topic, let’s catch up a bit. Last week, I wrote about how SoftBank is screwing up. Before that, I noted All Raise’s expansion, Uber the TV show and the unicorn from down under.

Remember, you can send me tips, suggestions and feedback to kate.clark@techcrunch.com or on Twitter @KateClarkTweets. If you don’t subscribe to Startups Weekly yet, you can do that here.


Uber Head of Payments Peter Hazlehurst addresses the audience during an Uber products launch event in San Francisco, California, on September 26, 2019. (Photo by Philip Pacheco / AFP) (Photo credit should read PHILIP PACHECO/AFP/Getty Images)

The sheer number of startup players moving into banking services is staggering,” writes my Crunchbase News friends in a piece titled “Why Is Every Startup A Bank These Days.”

I’ve been asking myself the same question this year, as financial services business like Brex, Chime, Robinhood, Wealthfront, Betterment and more raise big rounds to build upstart digital banks. North of $13 billion venture capital dollars have been invested in U.S. fintech companies so far in 2019, up from $12 billion invested in 2018.

This week, one of the largest companies to ever emerge from the Silicon Valley tech ecosystem, Uber, introduced its team focused on developing new financial products and technologies. In a vacuum, a multibillion-dollar public company with more than 22,000 employees launching one new team is not big news. Considering investment and innovation in fintech this year, Uber’s now well-documented struggles to reach profitability and the company’s hiring efforts in New York, a hotbed for financial aficionados, the “Uber Money” team could indicate much larger fintech ambitions for the ride-hailing giant.

As it stands, the Uber Money team will be focused on developing real-time earnings for drivers accessed through the Uber debit account and debit card, which will itself see new features, like 3% or more cash back on gas. Uber Wallet, a digital wallet where drivers can more easily track their earnings, will launch in the coming weeks too, writes Peter Hazlehurst, the head of Uber Money.

This is hardly Uber’s first major foray into financial services. The company’s greatest feature has always been its frictionless payments capabilities that encourage riders and eaters to make purchases without thinking. Uber’s even launched its own consumer credit card to get riders cash back on rides. It’s no secret the company has larger goals in the fintech sphere, and with 100 million “monthly active platform consumers” via Uber, Uber Eats and more, a dedicated path toward new and better financial products may not only lead to happier, more loyal drivers but a company that’s actually, one day, able to post a profit.


VC deals


Meet me in Berlin

The TechCrunch team is heading to Berlin again this year for our annual event, TechCrunch Disrupt Berlin, which brings together entrepreneurs and investors from across the globe. We announced the agenda this week, with leading founders including Away’s Jen Rubio and UiPath’s Daniel Dines. Take a look at the full agenda.

I will be there to interview a bunch of venture capitalists, who will give tips on how to raise your first euros. Buy tickets to the event here.


Listen to Equity

This week on Equity, I was in studio while Alex was remote. We talked about a number of companies and deals, including a new startup taking on Slack, Wag’s woes and a small upstart disrupting the $8 billion nail services industry. Listen to the episode here.

Equity drops every Friday at 6:00 am PT, so subscribe to us on iTunesOvercast and all the casts.



https://ift.tt/2oDOjW3 Startups Weekly: Understanding Uber’s latest fintech play https://ift.tt/2JJB7X5

Friday, November 1, 2019

Los Angeles-based BuildOps, subcontracting software for real estate, raises $5.8 million

Software development companies tackling services for niche industries, like commercial real estate subcontracting, continue to find Los Angeles to be fertile ground for development.

The latest company to raise funding from a clutch of investors is BuildOps, which raised $5.8 million in seed financing from some big names in the Los Angeles tech ecosystem.

Led by Fika Ventures, with additional investments from MetaProp VC, Global Founders Capital, CrossCut Ventures, TenOneTen, IGSB, 1984 Ventures, L2 Ventures, GroundUp, NBA all-star Metta World Peace, Oberndorf Enterprises, Wolfson Group and scouts from Sequoia Capital, the new financing will be used to support the company’s continued growth.

BuildOps sells software that integrates scheduling, dispatching, inventory management, contracts, workflow and accounting into a single software package for commercial real estate contractors with staff ranging from a few dozen to several hundred employees.

Software for the service industry is nothing new for Los Angeles entrepreneurs. The unicorn ServiceTitan hails from the greater Los Angeles area and a number of other software as a service businesses are calling the greater Los Angeles area home.

It’s hard to argue with the size of the commercial construction market. Over the past three years, commercial construction spending grew from $626 billion to $807 billion, according to data provided by the company. And while most large vendors — architects, general contractors and property management companies — have some project management software, the fragmented group of subcontractors that provide services to those customers has remained resistant to adopting new technologies, the company said.

The firm was co-founded by former ServiceTitan developer Neeraj Mittal; Microsoft, Nextag, Swurv and Fundly former executive Steve Chew; and Alok Chanani, who previously founded a commercial real estate company and was a former commander of a transportation unit of the Army in Iraq.

“At BuildOps, we are on a mission to bring a true all-in-one solution on the latest technology to the people who keep America’s hospitals, power plants and commercial real estate running. We are privileged to be working closely with some of the country’s top commercial contractors,” said Chanani.

That sentiment is echoed by Liquid 2 Ventures managing partner and former National Football League superstar, Joe Montana.

“Liquid 2 Ventures has an investment thesis in supporting America’s working class and I just love the idea of making their lives far easier and better. You have one solution that does it all and talks seamlessly to every single part of their business from parts to ordering to inventory and more,” said Montana in a statement. “There are very few world-class technology solutions for commercial subcontractors like this and we believe in the founders.”



https://ift.tt/eA8V8J Los Angeles-based BuildOps, subcontracting software for real estate, raises $5.8 million https://ift.tt/2JHXP1F

This startup is making customized sexual harassment training that it says employees won’t hate (or forget)

If you work for someone else, you likely know the drill: in comes that annual email reminding you that it’s time for unconscious bias or sexual harassment training, and if you could please finish up this mandatory module by this date, that would be terrific.

The email — not to mention the programming itself — is straight out of “Office Space.” Little surprise that when Anne Solmssen, a Harvard-trained computer scientist, happened to call a friend recently who was clicking through his own company-sponsored training program, his answer to how it was going was, “It’s more interesting when I have baseball on.”

Solmssen has some other ideas about how to make sexual harassment training far more interesting and less “cringe-worthy.” Indeed, she recently joined forces with Roxanne Petraeus, another Harvard grad, to create Ethena, a software-as-a-service startup that’s promising customizable training delivered in bite-size segments that caters to individuals based on how much they already know about sexual harassment in the workplace. The software will also be sector specific when it’s released more widely in the first quarter of next year.

The company first came together this past summer led by Petraeus, who joined the U.S. Reserve Officers’ Training Corps to help defray the cost of her Ivy league education and wound up spending seven years in the U.S. Army, including as a civil affairs officer, before cofounding an online meals marketplace, then spending a year with McKinsey & Co. to get a better handle on how businesses are run.

Petraeus says that across her experience, and particularly in the Army, she had “great leaders who were super thoughtful” about sexual harassment training, “who cared about their [reports’] development goals and what was happening in their personal lives, and brought out the best in their people, rather than making them feel less than or marginalized.”

Still, she was aware that from an institutional standpoint, most harassment training is not thoughtful, that it’s a matter of checking boxes on an annual basis to ensure compliance with different state laws, depending on where an organization is headquartered. She marveled that so much of the content employees are being forced to consume seems “designed for a 1980s law firm.”

Solmssen was meanwhile working for a venture-backed public safety software company, Mark43. She was getting along just fine, too, but when a friend put the two in touch on the hunch that their engineering talent and vision could amount to something, that instinct proved right.

“I’d been working for Mark43 for four years, and I wasn’t particularly interested in starting a business,” Solmssen says. “But I fell in love with Roxanne and this idea, and I came to this thinking that someone needs to make [this training process] better. We’re still using the tools and technologies that we’ve had since 1997.”

So how is what they’re building different than what’s currently available? In lots of ways, seemingly. For starters, Ethena doesn’t want to employees to “knock it out all at once” in an hour or two of training at the end of each year. Instead, it’s creating what it calls monthly “nudges” that deliver relevant studies and questions on a monthly basis — information that can then be used in an all-hands meeting, for example, helping to reinforce its goals.

It’s also focused on sending content and questions to people that’s iterative and that evolves based on how an individual responds. A new hire might answer very differently than a sponsor of other women within an organization, for example. It’s a stark contrast to to the black-and-white scenarios that every employee is typically presented. (Think: “Judy and Brian go to a bar after work.”)

These subtleties are a significant development, argues Petraeus, because “traditional training implicitly tells employees that going to spending time together outside of work is bad for mentorship. It’s why you hear things like, ‘I just hired my first female analyst; can I get into an Uber with her when we’re traveling?'” Turning every mixed-gender occasion into a potential minefield is “not the message we should be conveying.”

Yet it’s a message that’s being absorbed.  According to a survey conducted earlier this year by LeanIn.Org and SurveyMonkey, 60% of managers who are men are now uncomfortable participating in a common work activity with a woman, such as mentoring, working alone, or socializing together. That’s a 32% jump from a year ago.  According to that same survey, senior-level men are now 12 times more hesitant to have one-on-one meetings with junior women, 9 times more hesitant to travel together and 6 times more hesitant to have work dinners together.

Even the U.S. Equal Employment Opportunity Commission thinks sexual harassment training has gone wrong somewhere, noting that it hasn’t worked as a prevention tool in part because it’s been too focused on simply avoiding legal liability. Indeed, a few years ago, a task force studying harassment in the workplace on behalf of the EEOC concluded that “effective training cannot occur in a vacuum – it must be part of a holistic culture of non-harassment that starts at the top.” Similarly, it added, “one size does not fit all: training is most effective when tailored to the specific workforce and workplace and different cohorts of employees.”

Toward that end, and with compliance in mind, Ethena is also modernizing the content it delivers, including as it pertains to dating at work, which definitely happens; and inclusivity around pregnant colleagues, who are often subtly marginalized; and transgender colleagues, who can also find themselves feeling either misunderstood or overlooked by current sexual harassment training materials.

There’s also a heavy focus on analytics. If 60 percent of employees don’t know about a company’s policies around office dating, for example, or employees in an outfit’s marketing department appear to know less about an organization’s values than other departments, it will flag these things so managers can take preventative action. (“Say there’s a new manager in the L.A. office where employees seem to be answering less consistently,” suggests Solmssen. “We can provide additional training to get that person up to speed.”)

For Petraeus — who is the daughter-in-law of retired general and former CIA director David Petraeus — the overarching goal is to kill off mandatory yearly training where the takeaway for many employees, the fundamental standard, is, “Can I go to jail for this comment?”

It’s too soon to say if Ethena will be successful. It’s only halfway through a pilot training program at the moment. But Solmssen and Petraeus are strong pitchmen, and they say their software will be available beginning in the first quarter of next year for $4 per employee per month, which is on a par with other e-learning programs.

The startup has also won the support of early backers who’ve already given the months-old outfit $850,000 to start hiring. Among those investors: Neo, a venture fund started last year by serial entrepreneur Ali Partovi; Village Global; and Jane VC, which is a fund focused on women-led startups.

Numerous angel investors have also written Ethena a check, including Reshma Saujani, who is the founder of the organization Girls Who Code, and a handful of military veterans.

As for the last, “they’re not a group that’s typically represented in startup ventures,” observes Petraeus, “but in terms of leadership and thinking about how to get a diverse team oriented around the same goal,” they’re hard to match, she adds.



https://ift.tt/eA8V8J This startup is making customized sexual harassment training that it says employees won’t hate (or forget) https://ift.tt/33ilopT

After signing a big food additive deal, cell-based protein company Geltor is looking for at least $50M

After inking what sources said was a nine-figure deal with the world’s leading supplier of collagen proteins, Gelita, the cell-based collagen maker Geltor is in the market for at least $50 million in new funding, TechCrunch has learned.

According to people with knowledge of the company’s plans, the new funding could range from $50 million to as much as $100 million.

The money would be used to scale up the company’s collagen manufacturing capacity as it preps for the long-term Gelita contract.

Geltor is one of a slew of companies developing technologies to culture proteins at scale as a way to supplement and ultimately replace animal-based proteins in manufacturing.

While other companies pursue meat replacements using cultured products, Geltor is focused on another aspect of the supply chain: the collagen and gelatin additives that are typically made from the waste materials left over from the meat industry.

Traditionally, gelatin is made by boiling skin, cartilage and bones from animals. The material finds its way into any number of cosmetics and foodstuffs thanks to its ability to act as a thickening agent.

The markets for collagen and gelatin are worth a combined $9 billion dollars, which is a pretty sizable market for Geltor to tackle.

Just as importantly, should the meat replacement industry take off, then replacements will need to be found for the secondary markets that had been supplied by the waste streams for traditional meat processing.

Geltor already sells an animal-free collagen under the “Collume” brand as a marine collagen, and “HumaColl21,” which is a human collagen. Both products are used in the skincare market.

The agreement with Gelita marks the company’s first move into food and beverage additives.

“Gelita’s decision to invest in biodesign technologies is a prime example of our commitment to innovation and satisfying market needs,” said Hans-Ulrich Frech, Gelita’s global vice president of Business Unit Collagen Peptides in a statement last month. “This addition to GELITA’s collagen portfolio will complement the already robust portfolio of scientifically substantiated Bioactive Collagen Peptides®, which are key ingredients in foods and nutritional supplements for their protein content and physiological benefits.”

Meanwhile, for Geltor, the deal further proves out the company’s thesis that protein manufacturing can be a big business outside of the meat market that attracted players like Memphis Meats, Future Meat Technologies and other companies developing cell culture replacements for traditional animal husbandry.

“This pact further solidifies our view that we have entered a new era in how proteins are being utilized to improve products that consumers around the world use every day,” said Alexander Lorestani, the chief executive of Geltor in a statement. “Today, the market is ready and eager for premium offerings of protein ingredients, and this is the need that Geltor is serving.”



https://ift.tt/eA8V8J After signing a big food additive deal, cell-based protein company Geltor is looking for at least $50M https://ift.tt/34l8pDD

Backed by Will Smith and FabFitFun, OurPlace brings cookware and dinnerware direct to consumers

The husband and wife co-founders behind the direct-to-consumer cookware and dinnerware startup retailer OurPlace are big believers in the notion that the doorway to inclusive communities opens through the kitchen. 

Amir Tehrani, the company’s co-founder and chief executive spent, his life in the cookware and kitchen business, while his wife, Shiza Tehrani, is the co-founder of the Malala Fund, supporting educational initiatives for young women around the world, and Now Ventures, an impact seed investment fund based in Los Angeles.

The Los Angeles-based company is taking Shiza’s belief in social missions and the power of entrepreneurialism to transform communities, and Amir’s knowledge of the multibillion-dollar cookware and dinnerware business, to create a consumer-focused business that celebrates the culture surrounding cooking and uses it as a way to educate and inform — all while selling high-end pots, pans, plates and glasses to an audience of socially conscious consumers.

The project has received its initial capital from some pretty high-end backers. So far, the company has raised $2.35 million in financing from investors, including the venture arm of Los Angeles’ startup retail giant, FabFitFun and Will Smith’s Dreamers VC.

Two of the new products available from startup direct to consumer cookware and dinnerware brand OurPlace

The company’s initial line of dinnerware and cookware is manufactured in China and its glassware is manufactured in Thailand.

But the two executives have plans to source its future collections from artisans living in emerging markets around the world. “Our next collection is sourced from Oaxaca,” says Tehrani. “The Oaxaca line… it’s artisans making things out of their home. They’re making everything by hand and there’s no sophisticated machinery to speak of.”

The challenge, says Amir Tehrani, is to help these artisans begin producing products at scale, while staying true to the artisanal nature of the products.

Ultimately, the idea is to educate and inform consumers about the cultural context behind the products they buy, according to the company’s two founders.

There’s also a financial incentive to launch a direct-to-consumer brand, the founders say. It’s an industry that has yet to be disrupted by the technological innovations that have reshaped so many other retail markets, they say… and one that’s equally as large as the mattress industry.

By 2021, the cookware and dinnerware market is projected to be $12.7 billion, according to a study by Freedonia Focus Reports. By comparison, mattresses are about a $14 billion market in the U.S.

And it’s a market that Amir Tehrani knows well. His grandfather founded TableTops Unlimited, one of the largest white-label suppliers of kitchenware, cookware and dinnerware in the U.S. That experience is what brought investors like FabFitFun to the table.

“They understand our capabilities around the family business and they want to help bring it to their community as well,” says Amir Tehrani. “Aside from what they were already doing around fashion and cosmetics the largest opportunity they weren’t already doing was around cookware.”



https://ift.tt/36ryFhN Backed by Will Smith and FabFitFun, OurPlace brings cookware and dinnerware direct to consumers https://ift.tt/36k7aGR

Mario Kart Tour will test real-time multiplayer in December

{rss:content:encoded} Mario Kart Tour will test real-time multiplayer in December https://ift.tt/337yrKF https://ift.tt/32622Tn November 01, 2019 at 08:55PM

The mobile version of Nintendo’s iconic racing franchise, Mario Kart Tour, will soon support multiplayer races, bringing the game closer to its competitive roots. A limited multiplayer beta test is planned for December, just in time for holiday laziness, but only for paying subscribers — the rest of us will have to wait.

Mario Kart has had a focus on multiplayer since its first (and best, in my opinion) appearance on the SNES, with multiple modes available pitting players together in real time. So despite Mario Kart Tour’s general excellence as far as gameplay and variety, players have been disappointed by the lack of that core aspect of the game.

Sure, you can post high scores and best times, but that’s nothing compared with the feeling of coming from behind in a hard-fought race and beating out half a dozen tough competitors.

mario kart tour ios

Well, players will soon have that opportunity — if they happen to be Gold Pass subscribers. That’s the subscription tier that gives access to extra content in the “free to start” game, and will be a requirement to join the beta

Naturally this will provoke ire among players who feel they are owed not just a free game, but a free game that gives them everything they want for free. And in fact they may eventually get that, but it’s probably smart for Nintendo to limit this experience at first to paying customers so they can stress-test, balance gameplay, and so on. A subpar multiplayer experience is a good way to turn off otherwise interested players.

Still, this feeds into a larger dissatisfaction among gamers with Nintendo’s online and multiplayer strategy. The subscription service required for many popular games on the Switch comes with a selection of Nintendo and Super Nintendo Games, but beyond that the benefits are minimal and features standard on other platforms for years — voice chat, for instance — are absent or long in coming.

At only $20 a year it’s hardly a big investment, but subscription fatigue is growing among tech-savvy consumers and they are cutting things out where they can. Hopefully Nintendo’s offering will solidify and survive.

Cervest raises £3.7M for Earth Science AI platform to predict climate effects

Climate risk, including extreme events and the related pressures our environment, are fundamentally affecting the way businesses and governments operate — both tactically and strategically. Increasing climate volatility is causing food supply disruptions and increasing pressure on Enterprises (including financial institutions, insurers and producers) to disclose what’s going on.

The trouble is, while there is a lot of data about all this, its complexity, incompleteness and sheer volume is too vast for humans to process with the tools available today. So just as the climate changes, we are faced with “data chaos.” Equally, other parts of the world suffer from data scarcity, making it much harder to provide useful and timely analysis.

So the challenge is to address these issues simultaneously. So a new startup, Cervest, has created an AI-driven platform designed to inform the decision-making capabilities of businesses, governments and growers in the face of increasing climate volatility.

Cervest, has now closed a £3.7 million investment round to fund the launch of its real-time, climate forecasting platform.

The round was led by deep-tech investor Future Positive Capital, with co-investor Astanor Ventures. The seed-stage funding round brings the company’s total funding to more than £4.5 million.

Built on three years of research and development by a team of scientists, mathematicians, developers and engineers, Cervest says its Earth Science AI platform can analyze billions of data points to forecast how changes in the climate will impact the future of entire countries right down to individual landscapes.

It does this by combining research and modeling techniques taken from proven Earth sciences – including atmospheric science, meteorology, hydrology and agronomy – with artificial intelligence, imaging, machine learning and Bayesian statistics.

Using large collections of satellite imagery and probability theory, the platform can identify signals, or early-warning signs, of extreme events such as floods, fires, and strong winds. It can also spot changes in soil health, and identify water risk.

Cervest says the platform could do such things as reveal to a multinational the optimum location to build a new factory; warn a wheat grower that their crop yield isn’t expected to meet its targets; or used by insurers to help them set premiums for the next 12 months.

The team comes from a network of more than 30 universities, including Imperial College, The Alan Turing Institute, Cambridge, UCL, Harvard and Oxford, and has published more than 60 peer-reviewed scientific papers.

A beta version of the platform is due to launch in Q1 2020.

Iggy Bassi, founder & CEO, Cervest said: “Our goal is to empower everyone to make informed decisions that improve the long-term resilience of our planet. Today decision-makers are struggling with climate uncertainty and extreme events and how they are affecting their business operations, assets, investments, or policy choices.”

Sofia Hmich, founder, Future Positive Capital said: “With reports suggesting we have fewer than 60 years of farming left unless drastic action is taken, the need for science-backed decisions could not be greater. Businesses and policymakers hold the key to change and with access to Cervest’s proprietary AI technology they can start to make that change a reality at low cost – before it’s too late.”

Bassi previously ran the impact-led agribusiness, GADCO, which was supported by Acumen Fund, Soros, Gates Foundation, World Bank, and Syngenta. Its impact featured in UNDP, World Economic Forum, FT, Guardian and Huff Post. He previously built a software company focused on data analytics.

Cervest was inspired by Bassi’s experience building a farm-to-market agribusiness whilst confronting first-hand the impacts of climate and natural resource volatilities.

The Cervest team includes 8 scientists and 4 PhDs. Between them, they have published more than 60 peer-reviewed scientific papers with more than 3000 citations in high-profile titles including Nature, Proceedings of the National Academy of Sciences and The Royal Statistical Society.



https://ift.tt/eA8V8J Cervest raises £3.7M for Earth Science AI platform to predict climate effects https://ift.tt/328rRSA

Google Maps Incognito mode starts rolling out for Android users

{rss:content:encoded} Google Maps Incognito mode starts rolling out for Android users https://ift.tt/2qg6Zvm https://ift.tt/2JFupkY November 01, 2019 at 05:00PM

We’ve known for a while now that Google was bringing the “Incognito mode” concept to Maps, allowing you to run searches and find routes without them automatically being tied to your account history.

If you’ve been digging around trying to find the option without any luck, you weren’t just missing it. Though first mentioned back in May at Google I/O, the company says the rollout is just now officially underway.

Word of the rollout comes via a Google Maps support page, as first spotted by AndroidPolice.

It’s a staged rollout, so don’t be surprised if you don’t see the new feature immediately, even if you’re on the latest version of maps. It’s rolling out in batches, beginning with Android users. Google says it should be available to all Android users in “the next few days.”

Once it’s enabled on your account, you can toggle incognito mode on/off by tapping your profile picture, then flipping the switch. Here’s what that looks like:

So why incognito mode? As we wrote back in May: Whether it’s the holiday season and you’re trying to keep your gift-hunting locations under wraps, or you’re visiting a doctor and would just prefer it not pop up the next time a friend grabs your phone for some quick directions, there are all sorts of reasons you might want to leave fewer breadcrumbs. Remember, though, that while it’s less visibly tied to you, it’s still all stored in ways behind the scenes on Google’s end; the company told Wired earlier this month that while Incognito sessions aren’t tied to an account, they are logged with a unique session identifier that gets reset between sessions.

Accusonus raises $3.3M to use AI to help content creators repair the audio in their videos

Accusonus, the Greece and U.S.-based AI company helping content creators improve the audio in their videos, has raised $3.3 million in Series A funding.

The round is led by Athens-based Venture Friends, with participation from Big Pi, IQBility and PJ Tech, along with a syndicate of U.S.-based investors led by Michael Tzannes, who is actually the co-founder of Accusonus (and the former CEO of Aware Inc.).

Launched in 2014, Accusonus has been using AI for various audio and music applications longer than most. The company’s first product was Drumatom, which allows recording engineers to control microphone leakage (also known as bleed or spill) in drum recordings. In 2017, Accusonus followed up with the release of Regroover, an AI software instrument that un-mixes audio loops into stems so that new beat making workflows are possible.

Its products are said to have been used by engineers working with musicians such as Bob Dylan, Lou Reed, Goo Goo Dolls, Super Furry Animals, Wilco, Jennifer Lopez and many others.

However, more recently the company has developed a suite of simple-to-use tools aimed at video content and podcast producers that need to repair or “clean up” audio in their creations. With the amount of content being created growing exponentially — often recorded on smartphones and other consumer equipment or turned around quicker than ever — the market beyond music production is huge.

The company’s thinking, explained co-founder and CEO Alex Tsilfidis, is that Accusonus wants to democratise access to high-quality audio via AI-driven tools that remove the learning curve required by traditional audio software.

He says that inventing new algorithms and “painstakingly” fine-tuning the UX of Accusonus’ products has enabled it to offer audio tools that provide ease-of-use to entry-level users while simultaneously speeding up the workflows of audio and video professionals.

Specifically, the Accusonus Enhancement and Repair of Audio (ERA) tools are able to clean up audio recordings via turning a single “virtual” knob within the software. The ERA tools work as plugins and are compatible with major video and audio platforms. These include entry-level editors, such as Audacity and Garageband, and more high-end offerings, such as Adobe Premiere Pro, Apple Final Cut, Avid Pro Tools, Apple Logic Pro and Da Vinci Resolve.

Meanwhile, Tsilfidis says there is some advantage to serving both customer groups, too. The company’s professional users often provide feedback that then helps improve its non-professional targeted products (even if there is likely some overlap between the two groups).



https://ift.tt/eA8V8J Accusonus raises $3.3M to use AI to help content creators repair the audio in their videos https://ift.tt/2Pxw5ke

Sam Altman’s bet against Slack

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week Kate and Alex broke the discussion into two main themes. The first dealt with early-stage companies, and the second, as you can imagine, later-stage affairs. Don’t worry, we don’t get to SoftBank for quite some time.

Up top, we dug into Kate’s story about Quill, a formerly stealthy company that could be taking on Slack. That or something similar to Slack. Next, we turned to ManiMe, a startup in the beauty space that raised a smaller $2.6 million to take on a market that is valued in the billions.

After that it was time to leave the auspices of the early-stage market and move to, of all things, a public company. GrubHub reported earnings this week. It went poorly. Alex wanted to riff over the company’s earnings report and what it could mean for startups that are competing with GrubHub, a leader in the food delivery space that DoorDash and Postmates would prefer to lead themselves.

What impact GrubHub may have on the highly-valued on-demand companies isn’t clear yet, but will be pretty damn interesting to see when it does land.

Sticking to the later-stage markets, Alex dug into the problems at Wag which is struggling and looking for a sale despite raising a castle of cash from the Vision Fund. Kate followed that up with notes on problems at Katerra. The Information is reporting this week that the business is going through a number of layoffs and we’re wondering if it will suffer the same fate of some of SoftBank’s other investments.

And, finally, the changing face of things at SoftBank itself. The great money spigot is slowly cutting flow. How many unicorns that will strand isn’t yet clear. But surely it can’t be zero.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts.



https://ift.tt/eA8V8J Sam Altman’s bet against Slack https://ift.tt/336Qm43

EHang, maker of autonomous flying shuttles, files for $100 million IPO

Chinese autonomous air mobility company EHang has filed with the SEC the paperwork required to go public in the U.S. on the NASDAQ exchange, with a $100 million initial public offering. The company, which has been flying demonstration flights with passengers on board for a while now, is gearing up to launch its first commercial service in Guangzhou after getting approval from local and national regulators to deploy its drones in the area.

At launch, EHang will be using its two-seater vertical take-off and landing craft (VTOL), which has room for two passengers on board. EHang doesn’t just build the aircraft, though – its goal is to build full, multi-aircraft (as many as ‘thousands,’ according to Forbes) autonomous transportation networks that it hopes will serve to alleviate and avoid congested ground traffic. Guangzhou, with an estimated population of over 13 million, suffers from considerable traffic.

EHang is also building out logistics and cargo transportation capabilities as well as passenger services. The company believes it can offers short designate cross-city transportation that can cut down on time by as much as 40 to 60 percent, and once it achieves scale, it also says that costs have the potential to be reduced by as much as 50 percent.

Founded in 2014, EHang last announced funding in 2015, when It raised $42 million in a Series B round led by GP Capital, with GGV Capital, ZhenFund, Lebox Capital, OFC and PreAngel also participating.



https://ift.tt/eA8V8J EHang, maker of autonomous flying shuttles, files for $100 million IPO https://ift.tt/36kLHNP

Get student, nonprofit & govt discounts to Disrupt Berlin 2019

Calling all tech-minded students, nonprofit and government employees — this is your moment. Come and join us at Disrupt Berlin 2019 on 11-12 December at a price you can afford — because great ideas and innovation come from every sector.

Apply for our discounted Innovator passes for students and nonprofit or government employees and enjoy all the early-stage startup goodness of Disrupt Berlin.

Here’s what comes with your Innovator pass: access to the full conference agenda and all stages — including the Startup Battlefield competition. Interactive workshops, more than 400 startups and sponsors in Startup Alley, networking events, access to the full attendee list (via TechCrunch Events Mobile App) and CrunchMatch, the attendee networking platform. You’ll also have access to exclusive video content after the conference ends.

Here’s how the discounts work and what you need to know to qualify.

Discounts for students: You must be enrolled in a grade school, high school, college or university program or have graduated within the last six months. Coding schools don’t qualify for a discount, sorry.

Bring a valid student ID, proof of current enrollment or transcripts at registration, otherwise you’ll pay the full on-site price. Note: if you’re less than 21 years old, you may not have access to some venues. Your reduced Innovator pass costs €135 plus VAT. Tickets are non-refundable.

Discounts for nonprofit and government employees: You must be full-time employees of nonprofit organizations, federal, state or local government agencies, international government agencies or active military employees.

Nonprofit employees — you must provide your email address from your organization during the online registration process. Government and military employees — you must provide your valid .gov email address during the registration process.

At the Disrupt Berlin on-site registration check-in, you must show proof of current employment at your nonprofit (copy of 501c3 documentation) or government organization. Government contractors, including contractors working on government “Cost Reimbursable Contracts,” are not eligible for the government discount.

We accept the following forms of valid government ID:

  • Government-issued Visa, Mastercard or American Express
  • Government picture ID
  • Military picture ID
  • Federally Funded Research Development Corp (FFRDC) ID

If you don’t present valid nonprofit documentation or government ID at registration, you’ll have to pay the full on-site price. The discounted Innovator pass costs €295 + VAT, and tickets are non-refundable.

Students, nonprofits and government employees — Disrupt Berlin 2019 takes place on 11-12 December. Take advantage of these deep discounts and join us to learn, share and experience early-stage startup culture at its best. Apply for a discounted Innovator pass today.

Is your company interested in sponsoring or exhibiting at Disrupt Berlin 2019? Contact our sponsorship sales team by filling out this form.



https://ift.tt/eA8V8J Get student, nonprofit & govt discounts to Disrupt Berlin 2019 https://ift.tt/33g01pb

Forecast raises $5.5M for its ‘AI-powered’ project management software

Forecast, a Denmark-based startup that has developed “AI-powered” project management software, has raised $5.5 million in new funding.

The round is led by Crane Venture Partners, with participation from existing backers SEED Capital and Heartcore. Forecast has raised $10 million in total funding to date.

Founded in late 2016, Forecast describes itself as an AI-powered project management solution that automates manual project management tasks, and brings extra visibility and predictive capabilities to to project management. The idea is to help increase collaboration across teams with a better workflow and to improve planning.

Forecast claims that by using its project management software, customers reduce their administrative tasks by 20-40% and gain much better insights into “project risk, resource management and more”.

“Work is going more project-based… leading to an increased need for project management skills and expertise,” Forecast co-founder and CEO Dennis Kayser tells TechCrunch. “Plus, projects are getting more complex. Project management depends on many manual, ongoing updates to stay on time, on budget and on track. That’s why 66% of all projects fail due to human error”.

In addition, as projects become more complex and the data associated with a project increases exponentially, Kayser says the problem is getting worse, which, of course, is where machine intelligence can help. “We don’t learn from our mistakes because no one can keep track of every influencing factor to make crucial adjustments,” he adds.

To tackle this, Forecast uses AI to help keep projects on track and make project management more efficient. The software integrates with existing tools — such as Trello, Slack, Gdrive, Githum and Salesforce — and uses these various external data-points as key indicators for how well a project is running.

“[It pulls in] data from disparate systems and synthesizes it into something human-readable with powerful AI,” explains Kayser. “Everyone on your team can continue to use the tool they prefer without sacrificing dead-simple scheduling, reporting and collaboration for project managers and senior executives. With better insights and tools, project managers can be more efficient and gain insights from increasingly complex projects”.

The use of AI is proactive, too. This includes matching the best person and role to the task, automation of time registration, forecasting the size and duration of tasks, and being alerted before a project is in trouble.

With regards to target customer, Kayser says that Forecast is focused on helping IT & services, marketing, and computer software development companies that “rely on capacity being predictable and project delivery being successful”.

Forecast currently has “hundreds of customers” in over 40 countries. The software has helped customers manage more than 40,000 projects with more than 1,000,000 tasks created.



https://ift.tt/eA8V8J Forecast raises $5.5M for its ‘AI-powered’ project management software https://ift.tt/2Nt3biE

Thursday, October 31, 2019

Japanese instant-credit provider Paidy raises $143 million from investors including PayPal Ventures

Paidy, a Japanese financial tech startup that provides instant credit to consumers in Japan, announced today that it has raised a total of $143 million in new financing. This includes a $83 million Series C extension from investors including PayPal Ventures and debt financing of $60 million. The funding will be used to advance Paidy’s goals of signing large-scale merchants, offering new financial services and growing its user base to 11 million accounts by the end of 2020.

In addition to PayPal Ventures, investors in the Series C extension also include Soros Capital Management, JS Capital Management and Tybourne Capital Management, along with another undisclosed investor. The debt financing is from Goldman Sachs Japan, Mizuho Bank, Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Trust Bank. Earlier this month, Paidy and Goldman Sachs Japan established a warehouse facility valued at $52 million. Paidy also established credit facility worth $8 million with the three banks.

This is the largest investment to date in the Japanese financial tech industry, according to data cited by Paidy and brings the total investment the company has raised so far to $163 million. A representative for the startup says it decided to extend its Series C instead of moving onto a D round to preserve the equity ratio for existing investors and issue the same preferred shares as its previous funding rounds.

Launched in 2014, Paidy was created because many Japanese consumers don’t use credit cards for e-commerce purchases, even though the credit card penetration rate there is relatively high. Instead, many prefer to pay cash on delivery or at convenience stores and other pickup locations. While this makes online shopping easier for consumers, it presents several challenges for sellers, because they need to cover the cost of merchandise that hasn’t been paid for yet or deal with uncompleted deliveries.

Paidy’s solution is to make it possible for people to pay for merchandise online without needing to create an account first or use their credit cards. If a seller offers Paidy as a payment method, customers can check out by entering their mobile phone numbers and email addresses, which are then authenticated with code sent through SMS or voice. Paidy covers the cost of the items and bills customers monthly. Paidy uses proprietary machine learning models to score the creditworthiness of users, and says its service can help reduce incomplete transactions (or items that buyers ultimately don’t pick up and pay for), increase conversion rates, average order values and repeat purchases.



https://ift.tt/eA8V8J Japanese instant-credit provider Paidy raises $143 million from investors including PayPal Ventures https://ift.tt/36kediG

8th Wall’s new Cloud Editor helps customers quickly build mobile AR experiences

{rss:content:encoded} 8th Wall’s new Cloud Editor helps customers quickly build mobile AR experiences https://ift.tt/2BWT0gK https://ift.tt/36mP2w4 October 31, 2019 at 10:46PM

The world of phone-based AR has involved a lot of promises, but the future that’s developed has so far been more iterative and less platform shift-y. For startups exclusively focused on mobile AR, there’s been some soul-searching to find ways to bring more lightweight experiences to life that don’t require as much friction or commitment from users.

8th Wall is a team focused on building developer tools for mobile AR experiences. The startup has raised more than $10 million to usher developers into the augmented world.

The company announced this week that they’ve built a one-stop shop authoring platform that will help its customers create and ship AR experiences that will be hosted by 8th Wall. It’s a step forward in what they’ve been trying to build and a further sign that marketing activations are probably the most buoyant money-makers in the rather flat phone-based AR space at the moment.

The editor supports popular immersive web frameworks like A-Frame, three.js and Babylon.js. It’s a development platform, but while game engine tools like Unity have features focused on heavy rendering, 8th Wall is more interested in “very fast, lightweight projects that can be built up to any scale,” the startup’s CEO Erik Murphy tells TechCrunch.

8th Wall’s initial sell was an augmented reality platform akin to ARKit and ARCore that allowed developers to build content that supported a wider breadth of smartphones. Today, 8th Wall’s team of 14 is focused on a technology called WebAR that allows mobile phones to call up web experiences inside the browser.

The main sell of WebAR is the same appeal of web apps; users don’t need to download anything and they can access the experience with just a link. This is great for branded marketing interactions, where expecting users to download an app is pretty laughable; moving this process to the web with a link or a QR code makes life much easier.

The startup’s cloud-based authoring and hosting platform is available now for its agency and
business users.

Small satellite startup Kepler opens sign-ups for its IoT developer kits

Kepler Communications, the Toronto-based startup that’s focused on developing and deploying shoebox-sized satellites to provide telecommunications services, is opening up registration for those interested in getting their first developer kits. These developer kits, designed to help potential commercial customers take advantage of its Internet of Things (IoT) narrowband connectivity deploying next year, will then be made available to purchase for elect partners next year.

This kind of early access is designed to give companies interested in using the kind of connectivity Kepler intends on providing a head start on testing and integration. Kepler‘s service is designed to provide global coverage using a single network for IoT operators, at low costs relative to the market, for applications including tracking shipping containers, railway networks, livestock and crops and much more. Kepler says that its IoT network, which will be made up of nanosatellites designed specifically for this purpose it plans to launch throughout next year and beyond, is aimed at industries where you don’t need high-bandwidth, as you would for say HD consumer video streaming, but where coverage across large, often remote areas on a consistent basis is key.

IoT connectivity provided by constellations of orbital satellites is an increasing are of focus and investment, as large industries look to modernize their monitoring and tracking operations. Startup Swarm got permission from the FCC to launch its 150-small satellite constellation earlierr this month, for instance, to establish a service to address similar needs.

Kepler, founded in 2015, has raised over $20 million in funding so far, and has launched two small satellites thus far, including one in January and one in November of 2018. The company announced a contract with ISK and GK Launch Services to deploy two more sometime in the middle of next year aboard a Soyuz rocket.



https://ift.tt/eA8V8J Small satellite startup Kepler opens sign-ups for its IoT developer kits https://ift.tt/2q8HUCR

Facebook sues OnlineNIC for domain name fraud associated with malicious activity

Facebook today announced it has filed suit in California against a domain registrar OnlineNIC and its proxy service ID Shield for registering domain names that pretend to be associated with Facebook, like www-facebook-login.com or facebook-mails.com, for example. Facebook says these domains are intentionally designed to mislead and confuse end users, who believe they’re interacting with Facebook.

These fake domains are also often associated with malicious activity, like phishing.

While some who register such domains hope to eventually sell them back to Facebook at a marked up price, earning a profit, others have worse intentions. And with the launch of Facebook’s own cryptocurrency, Libra, a number of new domain cybersquatters have emerged. Facebook was recently able to take down some of these, like facebooktoken.org and ico-facebook.org, one of which had already started collecting personal information from visitors by falsely touting a Facebook ICO.

Facebooks’ new lawsuit, however, focuses specifically on OnlineNIC, which Facebook says has a history of allowing cybersquatters to register domains with its privacy/proxy service, ID Shield. The suit alleges that the registered domains, like hackingfacebook.net, are being used for malicious activity, including “phishing and hosting websites that purported to sell hacking tools.”

The suit also references some 20 other domain names that are confusingly similar to Facebook and Instagram trademarks, it says.

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OnlineNIC has been sued before for allowing this sort of activity, including by Verizon, Yahoo, Microsoft, and others. In the case of Verizon (disclosure: TechCrunch parent), OnlineNIC was found liable for registering over 600 domain names similar to Verizon’s trademark, and the courts awarded $33.15 million in damages as a result, Facebook’s filing states.

Facebook is asking for a permanent injunction against OnlineNIC’s activity as well as damages.

The company says it took this issue to the courts because OnlineNIC has not been responsive to its concerns. Facebook today proactively reports instances of abuse with domain name registrars and their privacy/proxy services, and often works with them to take down malicious domains. But the issue is widespread — there are tens of millions of domain names registered through these services today. Some of these businesses are not reputable, however. Some, like OnlineNIC, will not investigate or even respond to Facebook’s abuse reports.

The news of the lawsuit was previously reported by Cnet and other domain name news sources, based on courthouse filings.

Attorney David J. Steele, who previously won the $33 million judgement for Verizon, is representing Facebook in the case.

“By mentioning our apps and services in the domain names, OnlineNIC and ID Shield intended to make them appear legitimate and confuse people. This activity is known as cybersquatting and OnlineNIC has a history of this behavior,” writes Facebook, in an announcement. “This lawsuit is one more step in our ongoing efforts to protect people’s safety and privacy,” it says.

OnlineNIC has been asked for comment and we’ll update if it responds.



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